Bubble Sitters, Bitter Renters and HP'ers, do you feel like you've been a part of (or a leader in) a growing resistance movement these past few years?

April 28, 2008

Bubble Sitters, Bitter Renters and HP'ers, do you feel like you've been a part of (or a leader in) a growing resistance movement these past few years?

69 comments:

Anonymous said...: Hell, yeah! It's called common sense. More people are getting turned on to it, but probably not enough to stop the bailout nonsense...; April 28, 2008 4:57 AM
Anonymous said...: vive le resistance!!; April 28, 2008 5:15 AM
Anonymous said...: Yes, and I'm violently pissed that the government is even considering handing me the bill to pay off these idiot's mistakes.; April 28, 2008 5:35 AM
Akubi said...: Neil Diamond for President!; April 28, 2008 6:06 AM
Anonymous said...: Absolutely. The natives are restless. I can feel it. It's coming.

Arms - check
Ammo - check
foodstock - check
debt free - check
popcorn - check

Looks like I am good to go.; April 28, 2008 6:15 AM
Anonymous said...: it's weird to be involved in a "resistence" movement when all i want is a low price on a home. f'ing bizarro world. geesh.; April 28, 2008 6:56 AM
Anonymous said...: I don't think so because alot of these dummies still think because houses rose to such a height in price the drop now means that they are a good price deal. You try to tell them to be patient and pretty soon you may get two houses for the price of one (condo's in Florida anyway). They think the prices will start shooting back up and they won't get the house they are looking at now. They don't read the papers, think the government is going to clean this mess up with a stimulus check and that the federal reserve has our back and Hillary Clinton will come in to save the day. Plus they only believe a few snipets on the local news, worse yet they say the news is all bad news so they don't watch it. I began to know I was wasting my breath when people started to get that far away look in their eyes when I would tell them to save money, food, pay off their bills. So I decided to sit back watch the show and listen to them start complaining. Some of them still don't have a clue they are getting screwed every way from Friday. I can't help them so I am just helping myself. You can only tell people to save water so many times before you sound like a lunatic. I got my garden going and I have stocked up on everything spend less because I have it all in the house and don't have to go shopping so I don't buy alot of nick nacks. Sorry WalMart.; April 28, 2008 8:01 AM
Anonymous said...: Oh wow some resistance kidz. Home values are still 100%+ higher than ten years ago. Government spending shows no signs of slowing, quite the opposite. A bailout for home owners is a done deal. Oh and the stock market is on a tear with indexes above levels of April 2007.

Gee you sure are winning this giant battles of yours.; April 28, 2008 12:09 PM
Anonymous said...: Let me tell you how bad the economy is out there. On Saturday I was at a Lexus dealership. It was so busy that I was told by the receptionist would I mind waiting 10 or 15 minutes for someone to help me. The place was a zoo. I go in to various dealerships to test drive new cars when something interesting catches my eye. I have never experienced that. Usually as soon as you park in the lot there is a salesman ready for you.

I know what you're all thinking. Doesn't mean anything. Even in a bad economy people buy cars. People bought cars in the 1930s. All true. Except luxury car dealerships are not overflowing with people buying new cars when the economy is in a recession/depression the way it is made to be on HP.

For over a year I have been a regular reader here. And for over a year I have read how the end is coming. And for over a year I've seen nothing but packed dealerships, malls, restaurants, bars, etc.

I guess John Edwards is right after all. There are two Americas. There is reality America where I live. And then there is make-believe America where HP and John live.; April 28, 2008 12:29 PM
blogger said...: Last Anon

Instead of "there was a 10 minute line" waste of time argument, you might want to look at some data. I know, I know, that'd be too much trouble. But trust us, ignorance is not bliss

http://online.wsj.com/mdc/public/page/2_3022-autosales.html#autosalesD

Toyota sales were down 10% last month, total US vehicle sales were down 12%. GM was down 19%. YTD total American sales were down 8%.

And yes, we're just getting started.

Oh, I hear iPods are selling too, so the housing crash is over.; April 28, 2008 12:37 PM
Anonymous said...: HP does not qualify as a movement. But there is something terribly wrong, and I'm not certain there's anything we can do about it.

Read Jared Diamond's "Collapse" and Alan Weisman's "The World Without Us" and you will be forced to consider that civilization is self-limiting. That humans have acted just like any other species - take over every niche possible, use everything up, and go extinct. The Big Problem is that we always let things reach a crisis point, and frequently by then it is too late. The housing Ponzi scheme is a case in point.
The resistance is going to be the Green Revolution. With luck, it won't mean any true austerity (but may seem like it to our absurdly wasteful and affluent society).; April 28, 2008 1:04 PM
Anonymous said...: Keith,

Did I say anything about housing? I said in my experiences over the past year I have not seen this economic doom that you and your followers seem to see at every turn. When a Lexus dealer is literally overflowing with customers, the idea of a recession is laughable.

As far as housing goes...I have owned my home for 12 years, it is almost paid off, another 2-3 years to go. Not exactly my #1 concern if the median price is up or down 5% since I don't plan on selling for years. In my neighborhood there are rarely any homes for sale and as soon as one does go up for sale, it's gone fast. I live intown in a 90 year old home and my home is one of the newest homes. People don't buy these houses to flip or rent. They buy to live in them. Some of these homes have been in the same family for multiple generations.

There are homes for sale in great abundance in new cookie cutter suburban subdivisions complete with a 2 hour commute into the city each way. And prices there are tanking. They could give those things away for free and I wouldn't be interested.

So is the housing crash over? In my neck of the woods it never started.; April 28, 2008 1:13 PM
Anonymous said...: "Let me tell you how bad the economy is out there. On Saturday I was at a Lexus dealership. It was so busy that I was told by the receptionist would I mind waiting 10 or 15 minutes for someone to help me...There is reality America where I live. And then there is make-believe America where HP and John live."

Your reality seems to be supported by anecdote, not by data. From Lexus' own web page you will see that the their sales are down some 8% this year.

http://tinyurl.com/3sadwq; April 28, 2008 1:19 PM
Anonymous said...: Keefer,

Don't waste your time on the anon car troll. I recently went into a VW/Subaru dealer to purchase a down on their luck relative a new Subaru. Place was EMPTY. There was ONE other customer in the whole dealership at 530 PM in the DC burbs. Had the whole freaking staff all over us, from the manager on down. Including all the rebates and mark-downs got the car for 20% off. Paid cash. BITTER RENTER CASH!

BAWAHAHAHA; April 28, 2008 1:37 PM
Anonymous said...: No, not at all.; April 28, 2008 1:39 PM
Anonymous said...: As we ride through the streets yelling "The redcoats are coming" people keep yelling shut up and close their windows. That's been my experience. Like Anon 8:01, I've seen the same far-off look in their eyes. My sister-in-law never heard of Ron Paul, My sister's still buying investment property, my friend just bought a $500K house, etc, etc. So, I'll just do what I can to be financially safe and put my 2 cents back in my pocket.
PS: My husband goes into car dealerships quite regularly to service their candy machines (not his real job). As soon as he gets out of the car, he's practically mauled by the salesmen, until they see he's just a vendor and then they disperse rather quickly. If car dealers are another canary in the coal mine, I'd say that bird's looking rather sick.; April 28, 2008 1:49 PM
Anonymous said...: To Anon: "Let me tell you how bad the economy is out there."

Nice try. Keep saying things are okay and everyone will believe you. The local paper here in Lansing, MI did a story a few weeks about how some people couldn't believe how packed local restaurants were, even though the economy here is supposed to be so bad. So the reporter called a few popular places and got the same story: they are packed, but only at certain times of the day and certain days of the week. The rest of the time: dead. Because of that, some may have to cut back staff or hours or both. Even the local restaurant association had to admit that overall revenues were down and they did not see a turn around coming any time soon. Many here expect to see some chains folding soon.
So, keep telling yourself and all your pals it's just some nuts on the Interwebs making all this bad news up.; April 28, 2008 1:53 PM
GT said...: dopes!
grand theft auto is all the rage and coming to a city near you!
oh and the video game is also coming soon and going to sell millions of copies! it's a $60 game and every other house will have a copy tomorrow to play on their heloc'd console(s).

DOPES!; April 28, 2008 1:59 PM
Anonymous said...: There's at least one housing bubble blogger out there who has reluctantly made the connection to world economies collapsing, food shortages and riots, etc., with prophecies in the bible about the "Last Days".

Guess what, THEY ARE HERE!

Unless you're a student of bible prophecy and understand it, most of the parables and symbolism in it won't make sense to you, but the bible says there will be signs in the heavens regarding the second coming of Christ.

Right now there is a huge buzz on the internet (within the bible prophecy community) about a new video at ProphecyintheNews.com that appears to be a discovery of enormous revelation (no pun intended) in bible prophecy. It's a MUST SEE video and is only 30 minutes long.

It's about the Jewish feasts and solar/lunar eclipses. You'll be amazed when you hear what a Pastor specializing in the study of the Jewish customs and traditions that are related to Christianity has discovered when he matched lunar/solar eclipses and blood red moons with the Jewish calendar. Here's a teaser. It looks like something significantly prophetic and biblically supported, might just happen this summer.

Here's the video...
http://66.155.114.80/video/Dsl/5904-D.wmv

If bible prophecy, parables and symbolism sounds like jibberish to you, consider what Jesus said when the disciples asked him why he spoke in parables, etc. To paraphrase Jesus, his answer was essentially "SO THE DAMNED WON'T GET IT"

Then contemplate why none of this resonates with you. Your time is short and your eternal salvation is at stake. Don't be so close-minded to the only one thing that matters, while being so open-minded to everything that doesn't. If you're concerned about being embarrassed, consider how embarrassed you'll be spending eternity in Hell because of your cocky and conceited self that wouldn't allow you to seriously investigate what billions have known for thousands of years.

God Bless; April 28, 2008 2:03 PM
GT said...: as for the lexus anecdote...i do feel for the poor HPer we may have lost. as i too am shocked when i go to casual dining establishments and, gasp, have to wait for a table (though ihop was pretty empty the other night).

i mean, hello! how are people able to afford an uno pizza? their menus appeared brand new, which i guess they have to do to keep up with prices. but maybe people are dining out as their higher prices lag the prices at the supermarket along with gas for heating stoves, it's almost cheaper to dine out??

maybe the lexus dealer had fewer salesmen as they all gave up or the dealer didnt deem a bunch of them sitting around needlessly? or maybe people are feeling down and need a good pick-me-up so they test drive nice cars with no anticipation of buying? but more likely, it is lexus and the upper middle class is doing ok...; April 28, 2008 2:06 PM
Anonymous said...: Keith, Agreed. That anon has his or her head up their "4th point of contact" as we say in the airborne.

Did that pinhead ever think that maybe the dealership is backlogged because they've cut staff? I have several friends in the auto sales arena and they are all suffering big time. Being a "Zoo" in terms of number of people in the showroom is not a conclusive indicator of anything. Its the number of sales that counts. Financing is tight, alot of deals are not going through. Many people are leasing to give the appearance of prosperity. Plus they are not saving a nickel.

The two America's Mr. Edwards was referring to was the America that is soo wealthy that a recession does not affect them (e.g. Mr. Edwards w/ his 100 million in wealth) and then the majority of America that is under educated, under employed and living on vapor. The demand they generate is much greater than the super-wealthy and when that wal-mart/Mickey-Dee's demand slips then the handful of luxury units sold is meaningless in regards to the overall health of the economy.; April 28, 2008 2:23 PM
Anonymous said...: YES-I've had to resist the temptation of myself of jumping into housing, listening to people who a year ago said I should not hold off buying. My counterpoints were ignored/rebuffed with "fluff" & REIC speak.

Now they say gee you can get a place for song and you are the "perfect buyer". No unsalable housing holding me back, money in the bank for a 20% down payment and a FICO that exceeds even the restored prime lending standards, which where lost during the bubble. But while the compliment me, they still have the compliment couched in terms of REIC "Perfect buyer". I retort the math still does not make sense and I'm waiting at least another 1-2 years to boost my savings, get a few more pay raises under my belt, and build another 15% in equity in terms of housing's continued predicted slide. They all say I am running the risk of rates going up and being priced out. I just change the subject to how they are making ends meet, the light bulb goes on in their head and they stop bothering me.; April 28, 2008 2:29 PM
Anonymous said...: Viva le evolucion'

Bubbles the Chimp; April 28, 2008 2:35 PM
Anonymous said...: It takes several years for financial improprieties to play out in the real world.

The high gas and food prices we are experiencing now are a result of mistakes made a long time ago.

The pain from the credit orgy and the government's ridiculous deficit spending of the past 10 years hasn't even begun.

People have their head in the sand.

It is probably easier to get out of bed in the morning living in a state of denial. I'd rather try to figure out the truth and find the strength to get out of bed anyway...; April 28, 2008 3:34 PM
Anonymous said...: I feel like this is just a continuation of the fight against the creeps who hijacked this country forty years ago.

It's just that now we're so badly beaten that they don't even pretend to hide it. The MSM koolaid is served up ice cold every morning. It's an "ownership society" alright: we're the society, they do the owning.; April 28, 2008 3:53 PM
Anonymous said...: The line of resistance forms behind me for all the recent arrivals. Welcome to the party pal.; April 28, 2008 3:57 PM
Anonymous said...: Here's something interesting from NYT Business Section today:

"Dealers see SUV glut as drivers trade in gas guzzlers:
David Tivadar has spent three months trying to get fair trade-in value for his 2005 Lexus SUV, which gets about 17 miles per gallon. He would like to trade it in for a minivan that gets better mileage and can accommodate his baby daughter.

He bought the Lexus new for about $33,000, and said the monthly payments of $465 ''would be more manageable if gas prices weren't so high."
So, the Lexus dealer is busy with trade-ins. Makes sense.; April 28, 2008 4:19 PM
Anonymous said...: I go in to various dealerships to test drive new cars when something interesting catches my eye.

***

one of those walmart window shoppers BWA HA HA HA.... ahhhh; April 28, 2008 4:25 PM
Anonymous said...: "Anonymous said...
Let me tell you how bad the economy is out there. On Saturday I was at a Lexus dealership........"
===========================
Some truth to that, Keith. A couple weekends ago I tagged along with my neighbor and his wife while they were going down to the BMW dealership to shop for a new status symbol. It was a nice day, and the place was nuts. Same scenario an anon's, NO ONE to wait on them, they cruised the lot, talked to other waiting customers, had some free coffee, finally left deciding to come back another day.

BUT, we then went down to the local mall a mile down the road..... a tomb, and this on a Saturday! We had dinner in a restaurant that two years ago usually would have had a waiting line out the door and down the sidewalk, now half empty, we were seated immediately.

My wife works a second job at a higher end retail establishment serving usually upper middle class and up clientele. Her business has never been better. Her company is actually begging her to go full time, but since her regular job is with the government, well..... she’s no fool!

Speaking of cars, I spent a couple days this week up in Carlisle Pa at the gigantic auto show and swap meet held every spring. Unbelievable crowd, and this in the middle of the week (only a die-hard nut goes on Fri-Sat.) Cars on the lot I was parked in had plates from all up and down the east coast, from Connecticut to N. Carolina, and this with $3.75/gal gas.

What I'm getting at with all this is that just as real estate is all local and location, economic retail slowdown is the same way. It depends on WHO is buying what, WHAT they want to buy, and HOW MUCH they can afford, and how BADLY they want it.

Do I think that BMW sales and my wife’s retail customers will sustain the economy, of course not! But the natural STICKY-NESS of a housing melt down, coupled with the government’s bail-out attempts, is going to drag this out damn near forever! So I can see where anon sees great business at car dealerships, malls and restaurants, WHERE HE LIVES. I see some of that where I live, but I’m not for one minute thinking that it represents everywhere! The handwriting’s on the wall.; April 28, 2008 4:42 PM
Anonymous said...: "David Tivadar has spent three months trying to get fair trade-in value for his 2005 Lexus SUV"

Life is not fair. The value of gas guzzling vehicles has fallen.

Here in the West RV's have almost disappeared from the roads. I'll bet a fellow could pick one up cheap these days.; April 28, 2008 4:45 PM
Anonymous said...: anon said - So is the housing crash over?

and then anon said

There are homes for sale in great abundance in new cookie cutter suburban subdivisions complete with a 2 hour commute into the city each way. And prices there are tanking.

i guess he cant make up his mind about it HP RULES; April 28, 2008 4:47 PM
Anonymous said...: More like being the only non-smoker...; April 28, 2008 4:48 PM
Peahippo said...: Leader? Are you fucking KIDDING me? No way. We're like the Kuwaiti resistance movement when Iraq invaded in 1991. The resistance was not only fought by the Iraqis, then when the Kuwaiti royals came back from their cowardly exile, they brushed the resisters aside like flies. The resisters did the right thing, but they were never rewarded for it.

The point is, the message of HP is never in vogue. We're not wanted since we're "anti-wealth". We don't want wealth built through scams and esoteric financing. We want wealth built the old fashioned way, but our society summarily rejects those ways now. The old ways of prosperity are outmoded and relate to having a middle class. We may as well be Communists.

But the damnedest thing about it is that no matter how the middle class shrinks, the remaining poor, working poor and real middle class will STILL demonize everything we say. We're not gamblers. We don't follow the modern ways of fraud and more esoteric forms of deceit (like starting a company and fooling people into buying our stock).

WE WILL NEVER BE ACCEPTED. We believe in saving money, but according to the popular culture, money is only for spending and gambling, for immediate enjoyment and for trying to multiply it by a large factor. We believe in buying an asset for usage, but according to the popular culture, assets are only for buying for speculative purposes, so they can be sold later for a fat profit. We believe in working for a fair wage, but according to the popular culture, that's just for suckers or "loosers" (a la Casey Serin) and one should spend their time being an "independent contractor" and just issue padded invoices to corporations.

The working class hates itself. Consequently, it hates us. The middle class hates being middle class, and wants to be rich. Consequently again, it hates us. We cannot lead. So we laugh. We laugh at the fools trying to get rich and 99% failing to do so, and save our money when the fools bid up the prices of necessities beyond rational means.

The denial and insanity that drives all of popular culture is putting us squarely into the Great Depression II. We'll have to endure at least 5 years of such a Depression until people stop acting financially insane for a short while in order to pull us out of it ... but, just so that they can go back to being Donald Trumps and create the next financial collapse.; April 28, 2008 4:56 PM
Anonymous said...: anon said So is the housing crash over?

http://www.bloomberg.com/apps/news?pid=20601103&sid=aeDxfeD1PLV0&refer=news

Rising foreclosures are also lifting stress levels. Foreclosure filings jumped 57 percent and bank repossessions more than doubled in March from a year earlier as rates on adjustable mortgages increased, Irvine, California-based RealtyTrac Inc., a seller of default data, said last week.; April 28, 2008 5:17 PM
Anonymous said...: "a Lexus dealer"="reality"

{priceless}; April 28, 2008 5:18 PM
Anonymous said...: April 25 (Bloomberg) -- U.S. consumer confidence fell more than forecast in April to a 26-year low as record fuel prices and rising unemployment threatened to reduce spending.; April 28, 2008 5:19 PM
Anonymous said...: More like being the only non-smoker...
***

while hes trying to control his liquor intake
BWA HA HA HA.... ahhh; April 28, 2008 5:24 PM
Telemill said...: I so agree with a previous commenter, for YEARS I have been at a wild party where everyone has taken a "hit" from a fat blunt . . . and I'm the only one who hasn't -- and everyone at the party knows that I'm the only one that hasn't.

In situations like that, they just stare at you like you are a two-head, albino tiger at the zoo. Fascinated but don't want to get near you.; April 28, 2008 5:42 PM
Anonymous said...: Keith:

You and HPers are the best; kept me from buying a home a few years ago when I started reading this blog. Prices in Washington, DC are ridiculous...Now, I have a downpayment and just waiting another year or two to see what may happen! It's looking better everyday!

http://s.wsj.net/public/resources/documents/retro-HAGERTY.html; April 28, 2008 5:46 PM
Anonymous said...: RE: Lexus comment

People might be trying to trade in those SUVs; good luck because many dealers don't want them!!!; April 28, 2008 5:48 PM
Anonymous said...: Restaurants are definitely feeling the crunch! Six months ago I signed up via email with 20 local restaurants in Bethesda, Rockville, Gaithersburg, MD to get their specials. They are making real affordable to eat out these days...,,Bennigans offers me every week the same lunch deal for $4.99 (includes a choice of 15 entrees & a drink). Not a bad deal! Cheaper than McDonalds; April 28, 2008 5:55 PM
Anonymous said...: Vacant homes for sale hit a record high

Government report says 2.9% of U.S. homes up for sale were vacant in the first quarter.

WASHINGTON (AP) -- The percentage of vacant homes for sale in the United States set a new record high in the first quarter of this year, the government said Monday.

The Census Bureau report shows that shows that 2.9% of U.S. homes -- excluding rental properties -- were vacant and up for sale, compared with 2.8% in the fourth quarter of 2007. It was the highest quarterly number in records going back to 1956.

That works out to 2.28 million properties, up from 2.18 million in the same quarter last year, according to the report.

The West had the biggest gain in vacancy rates among homeowners, rising to 7% in the January-March period from 6.5% in the fourth quarter of 2007.

http://tinyurl.com/4pz4ef; April 28, 2008 6:11 PM
Anonymous said...: Went to Costco over the weekend to stock up on food + supplies for the next 12 weeks.

This summer will be very interesting.; April 28, 2008 6:19 PM
Anonymous said...: I guess John Edwards is right after all. There are two Americas. There is reality America where I live. And then there is make-believe America where HP and John live.

April 28, 2008 12:29 PM

Wow, you realators/mortgage people have to be getting desparate to throw down this trash. Do what any honest analist might do, digest the data or stats. The four horsemen are coming and judging by what you have said they ran over your head on the way in.

Signed: Realist; April 28, 2008 6:35 PM
Anonymous said...: Then contemplate why none of this resonates with you. Your time is short and your eternal salvation is at stake. Don't be so close-minded to the only one thing that matters, while being so open-minded to everything that doesn't. If you're concerned about being embarrassed, consider how embarrassed you'll be spending eternity in Hell because of your cocky and conceited self that wouldn't allow you to seriously investigate what billions have known for thousands of years.

I had a crisis in faith, these events taking place have allowed me to see what lies ahead. No more crisis in faith. Evil here and abroad grows in power. I was born a free Chistain, I will die a free Christain. To those who believe they can change that, BRING IT!!!!!

PS I hope it warms up soon.; April 28, 2008 6:54 PM
Out at the peak said...: When I sold my house (at the peak), people at work thought I was dumb for throwing away such a "good investment." Now that hindsight has struck, they count me as a good source of information.

Now with CA prices 30% off, a few of them are tempted with biting. I repeat that it is still not the time to buy. 2012 is still my best guess, but we will see how the Alt-A/Option ARM crisis pans out. Half of the people who listen have agreed to follow me until cycle completion.; April 28, 2008 6:56 PM
Anonymous said...: Hey Keith!!

You should post this very important article from Mike Whitney:

Global Famine? Blame the Fed

People need to realise that food riots have nothing to do with a limited food supplys it has everything to do with price inflation thanks to the Fed and other central banks of the world. The poor starve while the fat cat bankers scramble to save their own billion dollar hedge funds. All due to manipulated fiat currencies.; April 28, 2008 7:41 PM
Anonymous said...: i was to understand there'd be punch & pie - ?; April 28, 2008 7:56 PM
Devestment said...: it feels good to hear you told me so.; April 28, 2008 8:10 PM
Anonymous said...: No, I am just middle class and want a house to start my family in just like my parents did. I dont want to be a gazillionaire, I just want a nice safe place to raise my children in where I wont get shot up. I just want to live and not be bothered.

I hate to see my gov wasting all this money but my vote didnt count. John Banana McCain or Obama will be president and nothing will change. I will pay my taxes for fear of jail while they ship my job off to china or india. I really do hate curry.

I am I part of a resistance, NO. I am just an American who wants America back.; April 28, 2008 9:37 PM
Anonymous said...: You know I never did, but lately when I see the bailouts on Wall Street and the latest commentaries from the Phoenix Realtor Circle Jerk Blog, I realize that this is indeed a war.

There were people who saw this coming from even farther than we did and unfortunately, they have the real power here.

Lets agree to not make this easy on them.; April 28, 2008 10:51 PM
Anonymous said...: The 'Lexus dealer sales' post by the annonymous guy should be a prime indication that we are still no where near the bottom of this bubble. As it is readily apparant that many sheeple are still clearly in a state of denial.

I mean honestly, that is your frame of reference?? Some Lexus dealer having perceived good sales? That is how you qualify your position?

Perhaps we need a new "lexus dealership indicator" that Bernanke can use to leverage the actions of the Fed. So when everyone is screaming for him to lower interest rates due to collapsing housing, credit crunches and near or realized insolvency by large banks, he can simply retort by stating with confidence:

"But the Lexus dealership indicator says everything is fine..."

Works for me. Likely more effective than the CPI anyway.; April 28, 2008 11:14 PM
blogger said...: "i was to understand there'd be punch & pie - ?"

- that one wins, post of the month. totally cracked me up

meanwhile, not a bad idea. if the anti-iraq protests or the anti-housing-gambler protests had tossed in some punch & pie, we'd have gotten somewhere.

Gotta have punch & pie.; April 29, 2008 12:26 AM
Anonymous said...: http://www.sec.gov/Archives/edgar/data/16732/000089322008001235/w56572e8vk.htm

Looks like the realtors cant even eat ramen noodles.

They are closing the Canadian factory

this is truly a watershed day; April 29, 2008 12:39 AM
Anonymous said...: http://profile.myspace.com/index.cfm?fuseaction=user.viewprofile&friendid=12497887; April 29, 2008 12:42 AM
Anonymous said...: If anybody is considering trying to catch a falling knife at an "auction" in the near future. You MUST read this post over at patrick.net

http://patrick.net/wp/?p=601

Don't participate in REDC Auctions, you'll be sorry.

Keith you should bump this up to a post on HP.

Cheers; April 29, 2008 1:50 AM
Anonymous said...: Husband works for Honda...sales are way down way down compared to this time last year.; April 29, 2008 2:21 AM
Anonymous said...: Not so much a resistance movement as a place to go and get a little reinforcement that I am not the insane one. What is it about the debt junkies that gives them such arrogance? Do they really believe their own crap or is it because deep down inside they know they have sold themselves and their kids to the devil? I like to think it is the latter because I can't believe that this country has become so totally stupid.; April 29, 2008 3:04 AM
Anonymous said...: It seems that Glenn Beck saw this coming before anyone (at least for the last few months anyways).

And he's not shy to let everyone know how smart he is in his own mind.

Forkin media whore!; April 29, 2008 5:30 AM
Anonymous said...: I like how all you sycophants personally attack someone with vitriol for their simple honest observation.

Gotta stand up for anon 12:29...

I just got back from Vegas and you could have fooled me the economy was in trouble. Thousands upon thousands of people gambling, buying crap from the M&M store, and eating at fancy restaurants.

Went to two shows, $100 for cheap seats and PACKED to the gills, 7 days a week.

Went on a bus tour, no empty seats....

OK I'm ready, let's hear from you geniuses, bring on the name calling.....

Attack the person who opposes your beliefs not the message....clearly the sign of the enlightened few of you.

Hmmmmm reminds me of Mao and Che again, damn why do I keep seeing consistency there????; April 29, 2008 7:51 AM
Anonymous said...: Tons of people in Vegas all gambling away, doing bus tours and blowing $100 on show tickets after stuffing themselves full at the feeding trough buffets hardly describes the economic situation of the USA.

Las Vegas is like a glittery asshole. Doesn't matter how healthy the rest of the body is. It could be on its deathbed but there will still be poop coming out of the asshole until the very...last...gasp.; April 29, 2008 4:12 PM
Anonymous said...: "Tons of people in Vegas all gambling away, doing bus tours and blowing $100 on show tickets after stuffing themselves full at the feeding trough buffets hardly describes the economic situation of the USA."

Acutally it describes the US economy perfectly!

And your *glittery asshole* comment does too!

Viva Las Vegas!; April 29, 2008 4:41 PM
Anonymous said...: I'm with anon 7:51 on this one.

I keep reading the economy is in the crapper. I keep reading we're losing jobs.

But, I don't know anyone who isn't working. I go out and the restaurants, Best Buy, Target, etc. are packed.

It may be the last of the credit pig pushing through the snake, but that doesn't concern me. If I lived with worry I would die with worry. In the end it doesn't matter.

People may want to tell me I'm living an insular life. They may say I am disconnected. I wonder, why do they know so many people who aren't working? Why do they know people who just graduated college but can't find a job? Could it be that birds of a feather flock together? I saw my fair share of losers in my 20s, people who didn't work and lived at home, bitching that they had worked at Home Depot for a month and weren't going to wait forever to get that promotion to manager. Interesting that they all bitched that there were no jobs, that all the good jobs were being offshored, etc. etc....20 years ago! Every so often I get word on one of these losers since I blew them all off years ago. Most still live at home, most still don't work.

Remember, the source of all your frustrations and problems....might be you!; April 29, 2008 5:41 PM
Anonymous said...: In reply to:

"Bubble Sitters, Bitter Renters and HP'ers, do you feel like you've been a part of (or a leader in) a growing resistance movement these past few years?"

I am a leader.

People of Foreclosureville hear me!

Bring me your virgin daughters, 50 bushels of spring wheat, and a six-pack of Barq's root beer and I'll make all your housing troubles disappear.; April 29, 2008 11:48 PM
Anonymous said...: If bible prophecy, parables and symbolism sounds like jibberish to you, consider what Jesus said when the disciples asked him why he spoke in parables, etc. To paraphrase Jesus, his answer was essentially "SO THE DAMNED WON'T GET IT"

Sorry Jesus Freak, but there are many people here with working brains who don't accept the ridiculous idea of talking snakes, Jonah living inside a whale, and Adam & Eve living among dinosaurs or during the ice age. Go read a science book to stop believing in insane fairy-tales.; April 30, 2008 2:35 AM
Anonymous said...: 'buying crap from the M&M store,'
*******

mommy mommy mommy! people are buying more crap at the m&ms store. that means the housing crash is over
oh mommy i am so glad our country was saved by a m&m store; April 30, 2008 3:37 AM
Anonymous said...: To "Lexus" comment -- it's a luxury brand, it's not as affected by drop in demand as more "staple" brands, hence not really an indicator (econ 101, duh...).
Have you thought that people are "buying" a new Lexus to hedge against a price increase in the future due to a drop in dollar value?
Have you thought that full show room is not really an indicator of the number of sales? Maybe these people are just "shopping around", just like you, but are not buying.
Cheese Cake Factory uses the same technique of "would you mind waiting for 10 minutes" to create an image that they are IT. And sheeple wait, while there are empty tables available.

A week ago I took my car to Honda dealership for service, the showroom was EMPTY on a Saturday morning. So there, by my anecdotal evidence the sales are down.; April 30, 2008 8:13 PM
Anonymous said...: Don't buy something unless you need it (or really really want it) AND can afford it (AND as in a logical operator, not negotiable).; May 01, 2008 5:53 AM
Anonymous said...: Re "Jesus Freak" showing up on this thread with his End Time Prophecy...

I expected this sooner or later. The housing blogs have been sounding Apocalyptic for the past couple years; it was only a matter of time before somebody went Literally Apocalyptic and threw in the Gospel According to Hal Lindsay.

At least Jesus Freak was blatant about it; none of the usual Christianese code words like "Coming One World Currency/Government/Economic System" I've been seeing on other blogs. (The "Coming One World fill-in-the-blank" is only one step from the full-honk "SIX SIXTY SIX! DON'T TAKE THE MARK!!!!!"

There's a general End of the World Zeitgeist going around; why does it surprise anyone that those who have been practicing for The End all their Christian lives start coming out of the woodwork? When your financial planner starts telling you about End Time Prophecy, things have gotten officially weird.

And for Mister "The Economy is Booming; my Lexus dealer is overbooked", I leave you with this (from memory) direct quote from Revelation:

"One quart of wheat for a denarius (i.e. not enough to live on for a days pay), one quart of barley for a denarius (i.e. even less to live on), but don't touch the olive oil and the wine! (i.e. luxury goods)"; May 01, 2008 10:11 PM