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Housing PANICHousing PANICWorldwide leading housing bubble and crash blog Articles
It's just too many PANICS (thank you Alan Greenspan). So what did I miss?
2008-06-07 23:13:00 HousingPANICRicePANICFoodPANICOilPANICIra nPANICWaterPANICRepublicanPANICArtPANICDo llarPANICGoldPANICBernankePANICRealtorPAN ICRamenPANICHummerPANICDeficitPANICBoomer PANIC More About: Miss , Alan Greenspan , Greenspan , Alan
What's scarier right now?
2008-06-06 23:00:00 A: The Great Housing CrashB: The Great Oil Speculative Madness
HousingPANIC Stupid Question of the Day
2008-06-06 20:45:00 Have you found yourself spending and shopping less since the credit crunch, housing crash and great inflation hit?If so, what are you cutting back on the most? More About: Question , Stupid
It really is amazing how many Americans live beyond their means, don't save
2008-06-06 20:24:00 As Buffett says, you can see who's swimming naked when the tide goes out... More About: Live , Amazing , Americans , Save
HousingPANIC Stupid Question of the Day
2008-06-05 10:03:00 What advice would you give REALTORS today? More About: Question , Stupid
Cleaning up the mess they created: Here's what the 6%'ers are left to do no
2008-06-05 09:32:00 Here's a video thanks to Calculated Risk that helps answer our often-repeated question - 'what will they do with all these damn homes'The answer looks to be "nothing". They just sit out in the sun, rotting away, with no buyers in sight. Empty destroyed unwanted foreclosed homes all over America. With realtors buzzing around like flies on the carcasses, and the homeless taking shelter in the shadows of fractured dreams.It didn't have to be this way. But it is. Welcome to the post-housing-crash America. More About: Cleaning , Left , Mess
HousingPANIC Quote of the Day (By a Would-Be Socialist)
2008-06-05 07:23:00 "We believe Congress should jump-start demand for new homes with an initiative that will bring buyers off the sidelines and into the market, and thereby stop the downward spiral of home prices"- Desperate homebuilder and would-be-socialist Bob Toll, June 2008 More About: Quote Of The Day , Quote
Gonna be traveling again...
2008-06-05 02:48:00 Catching the boat to England today, and yes, HP will be based there again, reporting from the new epicenter of the global housing crash. Might be a bit spotty on posts and comments for a bit until I get settled in, so be patient.Do me a favor and post interesting stuff here and in BubbleTalk for the next few days. There's been a few things in the news lately deserving of their own posts but are being covered nicely in the comments, like Ed McMahon owing Countrywide Toxic Mortgage over $500,000 and losing his home (how the hell does Ed McMahon go Casey Serin on us?). And the NAR losing their monopoly on the MLS. Nice to see the HP community picking up the slack... More About: Traveling , Gonna
Doesn't BofA's Ken Lewis moving forward with Countrywide Toxic Mortgage see
2008-06-05 02:34:00 Rule #1: When you find yourself in a hole, quit diggingRule #2: See rule #1Bush blew hundreds of billions of taxpayer dollars and tens of thousands of lives even after it was clear he screwed the pooch in Iraq. And he just kept digging, and digging, and digging, refusing to admit his mistake. In the same vein, Ken Lewis at BofA knows that he'll be seen as a fool if he abandons Countrywide now, after pumping in a few billion earlier, but of course he's an even greater fool if he actually closes on this cancer, instead of cutting his losses and walking away.Either way, assuming this disaster goes through, Ken Lewis will be fired from BofA, and BofA shareholders will get slaughtered, and it'll be because of Angelo Mozilo and his corrupt gang at Countrywide. The lawsuits, the jail sentences and the billions and billions in losses will keep coming. And coming. And coming. And Ken Lewis of course will say "we never saw it coming".Well, we did. And Mr. Lewis, take our advice, if you kno... More About: Moving , Mortgage , Toxic
HousingPANIC Quote of the Day
2008-06-04 10:18:00 "A lot of stuff out there isn't going to sell"- George Cardieri, agent with Tierra Antigua Realty, June 2008 More About: Quote Of The Day , Quote
HousingPANIC Stupid Question of the Day
2008-06-04 09:50:00 Isn't it funny, and yet kinda sad, when idiot realtors-on-commission try to call "bottom" on the US housing market by pointing at TRANSACTIONS, versus PRICES?Bottom line: REALTORS don't care about you. REALTORS don't care about real people suffering real financial pain due in part to the horrific advice offered by REALTORS. All they care about is their f*cking commission check.Shameful.And never to be trusted again. More About: Question , Stupid
Back in 2006 the desperate builders were giving away FREE PIZZA with a home
2008-06-04 08:28:00 Here's a classic HP post from November 2006 (thanks paul e.) many of you may remember, where the f'd builder was offering FREE PIZZA if you made the biggest financial mistake of your life.Compare that to the post yesterday offering the "BUY ONE HOUSE GET ONE FREE" deal.Man, think of the sucker who bought a home because of a free pizza party... Think of the suckers who bought with ANY of the incentives these past few years. Hope they enjoyed the "FREE" granite countertops, or the "FREE" Hawaii vacation. And what do you want to bet they've now found out that nothing in life is free... More About: Pizza , Home , Free , Builders , Back
Today, after watching these two performances, I actually feel sorry for Joh
2008-06-04 08:27:00 What. A. Disaster.Poor guy.I think McCain's campaign must be run by monkeys."OK, John, we're gonna send you out on the same night Obama clinches in front of thousands and thousands of ecstatic supporters, and we're gonna give you one of the worst, most boring and most backward-looking speeches we can find, because we think if you're gonna go down, go down HISTORICALLY. Let's lose all 50 states!" Congrats again to Obama. The general election campaign is gonna be fun. Anyone think some in the GOP might be thinking of ways to replace McCain with a viable candidate right about now? More About: Today , Performances , Watching , Feel
Remember when people said I was nuts for saying Obama would take the nomina
2008-06-03 16:29:00 Congrats to Barack Hussein Obama on taking the Democratic nomination. The best person won. And the image of America around the world has just soared.I'd say I agree with 60% of what Obama supports, vs. about 30% for McCain, and 90% for Ron Paul.Should be a fun and interesting general election. And even if you don't support Obama, I think you can be proud of America today.The long Bush winter is almost over... More About: People , Nuts
I'm going out to get drunk. You all take over today...
2008-06-03 15:42:00 Spent the last 16 hours on the train from Vienna to Amsterdam, heading out to enjoy the beautiful albeit a bit overcast day in Amsterdam. Travel tip for ya - I took the CityNightLine hotel train, where you get a room kinda like a cruise ship, with your own shower and dining area too. Trains folks are the way to go... One day America will wake up to that reality, maybe at $10 a gallon. How those airfares doing these days btw? Post some interesting housing stuff here (use tinyurl, keep it short), and I'll see what I missed and get back to it tomorrow. Any Amsterdam tips appreciated (keep it clean!) More About: Today , Drunk
BUBBLETALK - new thread to talk about the housing collapse
2008-06-03 14:27:00 Post interesting articles (use tinyurl), give us your random thoughts, and keep it clean More About: Collapse , Talk , Housing , Bubble , Thread
HousingPANIC Quote of the Day
2008-06-02 17:06:00 "Today, the time for the fall of the satanic power of the United States has come and the countdown to the annihilation of the emperor of power and wealth has started... With the appearance of the promised saviour... and his companions such as Jesus Christ, tyranny will be soon be eradicated in the world." - Iranian President Mahmoud Ahmadinejad, spooky-crazy and just itching to get it on, June 2, 2008 More About: Quote Of The Day , Quote
So what's it cost to fill up your tank today?
2008-06-02 07:34:00 You know, it's kinda funny, when you don't drive, you completely lose track of gas prices. But I hear it's gettin' kinda silly now, huh?Off to go catch a train... Heading to Amsterdam for a few days on the way back to England...(and remember folks, you don't have an oil problem - you've got a Bernanke problem) More About: Today , Cost , Tank , Fill
Funny REALTOR comment of the day
2008-05-31 22:15:00 WHY DO realtors ALWAYS SHOUT WHEN THEY SPELL OUT THE WORD realtor?A bit paranoid maybe? Or is it because REALTOR isnīt a real profession?Enjoy... And no, you donīt have to be nice...Yeah right ... blame it on the REALTOR's for bring the house prices down ... Blame the economy on the REALTOR's too for that matter. You have to be a real IDIOT to think and say such a statment ... blaming it on REALTORs ... give me a break.If your going to say such stupid comments first educate yourself on the topics first.We REALTORs do a service like in any other profession. Whether you want to use our service is up to you ... just like in any other service.Example .. how hard is it to do paint a house, change a pipe in the kitchen, change the oil in your car, add numbers and subtract managing a store ... it's the same. It's a service that you pay for because YOUR lazy ass does not want to get off the couch and do it yourself. If you do get up and do it yourself ... than great.To generalize ... i... More About: Funny , Realtor , Comment
HousingPANIC Stupid Question of the Day
2008-05-31 09:51:00 If you could live anywhere in the world and money or work were not an issue, where would that be? More About: Question , Stupid
HousingPANIC Quote of the Day
2008-05-31 07:41:00 "For speculative capital, nimbleness is the essential attribute. Rushing in when it sees an opportunity and heading for the exit at the first sign of trouble, speculative capital has too often turned upswings into bubbles and downward cycles into crises"- Henry Kissinger, May 2008 More About: Quote Of The Day , Quote
It was all fun and games when the unregulated hot money hedge fund speculat
2008-05-31 06:55:00 When you step back and take a look, all these bubbles were really just low-interest-rate-enabled hot-money speculative hedge-fund driven attacks.First they went after the dot-com stocks. That was pretty fun.Then they moved on to real estate and houses. You know how that turned out.Then they moved onto gold, silver and the metals, and artwork and Euros too. And oh, that was quite the party.After that, it was food - corn, wheat, soybeans, rice, etc. Which of course is leading to starvation and death and soaring food prices.And then finally, they went after the oil. Black gold. Which of course is disrupting commerce worldwide and putting an "oil tax" on billions around the globe.So what's next? Is there ANYTHING that hasn't been attacked yet by these locusts? Is there ANYTHING still in their way?Maybe baseball cards? Cocoa Puffs? Zebras? Electricity? More About: Games , Money , Fun and Games , Fund , Hedge
Just wondering... Did any of you burn down 50 Centīs house?
2008-05-31 05:12:00 Probably just another over-leveraged homedebtor looking to get out from under an unsaleable debt-trap... The timing is kinda odd though, eh, even if itīs not the Cribs crib...50 CENT'S LONG ISLAND HOME BURNS DOWN More About: House , Cent , 50 Cent , Burn
HousingPANIC Stupid Question of the Day
2008-05-30 09:38:00 Will $10-a-gallon gas be a good or bad thing for America and the world?Bonus: What will the impact be on urban planning, transport and housing? More About: Question , Stupid
And then the Brits woke up to realize that they had the most obvious and la
2008-05-30 09:04:00 My only question is - what took so long?Gordon Brown, get ready to be blamed for the biggest housing crash in UK history. Even though in the end the Housing-Ponzi-Scheme-obsessed Brits only have themselves to blame.Anyone in the US want to give our friends in the UK any advice when it comes to housing crashes? Here's mine, it's pretty simple: Last one out's a rotten egg...Any suggestion that Britain's overblown, over-hyped and over-valued property market is due for a soft landing after the excesses of recent years has just been exploded. We've had the boom: welcome to the bust.House prices have fallen for seven successive months. Over the past six months, prices have dropped at an annual rate of 11.4% and over the past three months at a 16.1% annualised rate.The International Monetary Fund has said that 30% of the rise in house prices in the UK cannot be explained by economic fundamentals: a fall in prices of that magnitude is now on the cards. A crash was inevitable. More About: Obvious
And now we have RepublicanPANIC
2008-05-30 04:52:00 The good news? The GOP brand is mortally wounded thanks to the incompetence and arrogance of Bush and Cheney. "Republican" may be even lower than "realtor" in the American lexicon today. The voters are rightly pissed, and they're going to take it out on the party of Bush something fierce in November.The bad news? That leaves the incompetent, big-government, high-tax Democratic party.God help us all.So, what to do in November? Vote against EVERY incumbent except Ron Paul. Start over. Send a message to our elected officials that the voters are awake again, and that they answer to us. Or not and just continue on into the abyss...Wall Street Journal: The Republican PanicIf there is such a thing as a useful election defeat, then Tuesday's Republican loss in a special House election in Mississippi would qualify. Maybe this thumping in a heretofore safe GOP seat will finally scare the Members straight, or at least less crooked.Democrats won with 54% of the vote in a district that a Repub...
HousingPANIC Stupid Question of the Day
2008-05-29 09:41:00 So do you think society in general now understands that the speculative, out-of-control, runaway increase in house prices, which of course was unsustainable and not supported by any fundamentals, was not a good thing afterall?(btw, record fall in prices reported today in the UK - and away they go...) More About: Question , Stupid
Here's some of the home price drops by city. Can we all agree now that REA
2008-05-29 07:32:00 Chicago -10.0%Detroit -17.9%Larry Murphy's Las Vegas -25.9%Connie De Groot's LA -21.7%Miami -24.6%Minneapolis -14.1%Greg Swann's Phoenix -23.0%Leslie Appleton Young's San Diego -20.5%San Fran -20.2%Kendra Todd's Tampa -19.6%Lawrence Yun's Wash DC -14.7% More About: Home , City , Price
HousingPANIC Quote of the Day (propaganda version)
More articles from this author:2008-05-28 21:13:00 ?I still like and admire President Bush. But he and his advisers confused the propaganda campaign with the high level of candor and honesty so fundamentally needed to build and then sustain public support during a time of war"-Former White House Press Secretary Scott McClellan, May 2008 More About: Quote Of The Day , Propaganda , Version , Quote 1, 2, 3, 4, 5, 6, 7 |
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