Directory —
Real Estate —
Blog Details for "Housing PANIC"
Housing PANICHousing PANICWorldwide leading housing bubble and crash blog Articles
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)
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
HP is in Vienna this week. Anyone got any good tips?
2008-05-28 14:53:00 Haven't been here before amazingly, so any tips appreciated. Making my way back to overpriced London... And my tip of the week is get to Bulgaria before the rest of the yanks figure it out More About: Tips , Week , Vienna , Good
So the NAR is saying in public that all is fine, and prices have bottomed.
2008-05-28 04:51:00 Saw this from a post over at the always-entertaining Active Rain blog:From REALTOR Magazine. In the June 2008 issue, on page 42, there is the following statement.Tip 3: Build in a preset price reduction. While all our practitioners agreed that arriving at the right price the first time is the goal, sometimes you have to be a little more flexible, especially if you are in a marketwhere prices are in decline.So.. nice to see the NAR FINALLY adopting the correct strategy, at least internally. It's the price stupid. It'll always be the price stupid. The 6%'ers aren't eating anymore because the NAR chose to lie and spin and deceive, when they should have been shouting at the top of their lungs this message:"Home prices got wildly inflated in the US in a wave of massive speculation and fraud. If you're a seller, cut your price, cut it dramatically, and get out now. If you're a buyer, 50% off peak prices in most markets should be your target, at the highest, and a P/E ratio that make... More About: Public , Fine , Prices
HousingPANIC Stupid Question of the Day
2008-05-27 10:29:00 So, with the election looming, should we count on gas prices plummeting and a couple terror alert warnings again?(Add those two to the $600 checks from Big Daddy Government and stupid-low interest rates, and those crafty little incumbents might be able to live another day after all...) More About: Question , Stupid
So have you figured out yet that you're getting destroyed by inflation, and
2008-05-27 09:55:00 Ben Bernanke hates you.I mean he really, really hates you.And to make matters worse, your incompetent, ignorant and corrupt political leaders are failing you.You're on your own. More About: Inflation
Peter Schiff mocks the idiots on Kudlow & Co.
2008-05-27 09:12:00 Schiff was right on housing. He was right on gold. He was right on foreign stocks. And now he's right on the run-away inflation that's taking over the world. More About: Idiots , Peter
HP'ers who are retired or over the age of 65 - what advice can you offer yo
2008-05-26 10:26:00 What did you really do right in your life?What could you have done better?Were you prepared for retirement?What was your biggest mistake?What worries you the most?What gives you the most hope?I think about 2% of HP'ers are retired or over 65, but I'd like to hear from them. Feel free to chime in on these even if you aren't 65/retired. More About: Advice , Offer
And then the realtors, after two years of not eating, finally turned on the
2008-05-26 07:06:00 The hungry army of 1.2 million ramen eating realtors should march on the NAR offices in Chicago and demand an end to Lawrence Yun's happy talk and spin, the NAR's non-stop "we've hit bottom" and "prices aren't falling" spew of lies and deception.Why?Because this line of BS is actually hurting the 6%'ers, a HELL OF A LOT more than helping. Besides destroying their dwindling base of dues-payers' credibility (what very little of that there's left), the monkeys at the NAR are also confusing would-be sellers into not pricing their debt-traps at saleable prices, and transactions (that aren't REO's) dry up.No transactions = no commissions = no NAR dues = more ramenAs we've said for years, the NAR should be out there saying "prices are plummeting and will fall even more. If you're a seller, lower your price, lower it big-time, and get out. If you're a buyer, get even more aggressive with your low-ball offers"Instead, the NAR happy-talk is just freezing the market, as sellers po... More About: Realtors , Finally , Years , Eating
Here's the new "catch a falling knife" spin from one realtor in California:
2008-05-26 05:10:00 Now we have "WEEKEND BLOW OUT SALE!!" on houses.On houses.What next, houses down at the dollar store? Houses at the flea market? Houses from a shady-looking guy out of the trunk of his car?An HP'er reported on these fire-sale Ruxton Pacific Townhomes in Redondo Beach in the local conditions thread, but they and their new realtor huxter deserve their own posting I'd say.Here's some of the great copy from this failed development's new pimp, Ed Kaminsky. Sounds like someone selling used cars to me..BUILDER BLOW OUT SALE THIS MEMORIAL DAY WEEKEND! SECURE YOURS TODAY OR KICK YOURSELF TOMORROW!Congratulations--you timed the market! This is what you waited for! Memorial Day BLOW OUT SALE going on now through Sunday. WAS $849,000 now starting at JUST $599,000!!! . . . . . . The builder says:"Sell them ALL this weekend!". . . . Secure yours today or kick yourself tomorrow! Doors open at 11:00 a.m., Thurs., Fri. Sat. & Sun.! . . . . . . . More About: California , Realtor , Spin , Knife , Catch
So how bad is the Housing Panic in your town today?
2008-05-25 04:29:00 Just checking in - where do you live and what's it like on the ground there today?Denial? Desperation? Panic ? A sea of for-sale signs?Empty Home Depot parking lots?Unemployed realtors and mortgage brokers out looking for their next get-rich-quick scheme?Moth-balled condo project eyesores?Fire away... More About: Today , Housing , Town
So the "Mortgage Research Center" aka the "FHA Loan Center" is having a lit
More articles from this author:2008-05-25 03:55:00 Vote for this siteReal Estate Blog Contestpresented by the FHA Loan Center I assume that eventually they'll pull HousingPANIC and any other bubble blog from this awards "contest", the likes used by traffic-deprived blogs like Swann's ("he who shall remain unlinked") to dupe the unsuspecting into visiting their sites.But since HP'ers have absolutely ZERO reason to visit the "FHA Mortgage Center", a site set up by the "Mortgage Research Center", who being 'masters of the internets' also have niche sites here and here, is just another one of many for-profit lenders posing as if they are unbiased, patriotic, caring and pro-consumer, I thought it would be a terrible hoot to win their little "contest", while giving them the traffic the so crave.Until they get wise and pull us of course..So do your thing HP'ers - just click on their nifty banner, then click "vote" - should take about 2 seconds, no registration needed. You can vote once a day, and let us know when they finally get aro... 1, 2, 3, 4, 5, 6, 7 |
