Housing PANIC

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A HousingPANIC message to Barney Frank, Chris Dodd, Hillary Clinton and any
2008-05-12 11:55:00
Barney, Chris , Hillary and Friends,If you spend one penny of direct taxpayer money, or expose the American taxpayer to any more risk than we already have (Fannie, Freddie, FHLB, FHA, etc) THEN WE WILL HOUND YOU, WE WILL TAKE OVER YOUR OFFICES, WE AND WE WILL VOTE YOU OUT THE NEXT CHANCE WE GET.WE ARE THE MAJORITY. The vast majority of Americans who rent, who OWN, and who didn't treat homes as lottery tickets these past few years. WE ARE THE HONEST ONES, THE RATIONAL ONES, THE SANE ONES. And we not allow you to bail out fools, flippers and fraudsters with our money. Period.It was rampant fraud and wild speculation you corrupt monkeys. And we're pretty sure you know that. So why the rush to bail out Housing Gamblers? Is it your REIC masters, calling the shots? Is it because you "own" homes yourselves, and don't want their values to go down further? Is it because you feel propping up artificially high housing prices is good for America, or for future generations? Or is it ...
More About: Hillary Clinton , Message , Clinton , Dodd

Flood the White House folks. The only thing that can stop a massive taxpay
2008-05-12 11:13:00
Oh dear god. George W. Bush holds the fate of the nation in his hands.The White House 1600 Pennsylvania Avenue NWWashington, DC 20500Phone Numbers202-456-1111202-456-1414FAX: 202-456-2461E-Mail comments@whitehouse.gov or vice_president@whitehouse.govAlso make sure you sign the No Housing Gambler Bailout petition over at www.angryrenter.com, check out http://www.nobailout.org/ and also http://www.nationalbubble.com/stopthebail out/
More About: White House , Stop , Thing

Another new HousingPANIC Hero - Representative Tom Feeney from Florida, ris
2008-05-12 06:24:00
Here's Representative Feeney IN A GREAT GREAT SPEECH railing against using taxpayer money to bail out speculators and mortgage fraudsters, who took out "options" to buy a home (i.e. put no money down) and lost. The Democrats have a real loser on their hands with these Housing Gambler Bailout plans. The GOP should take this issue and run with it. Too bad their new standard-bearer, Flip Flop McCain, didn't stick to his guns.The Housing Gambler Bailout is the new Terri Schiavo. Politicians who want to win in November need to get on board against this stinker.
More About: Florida , Hero

Here's CNBC video of Barney Frank trying to explain away his Housing Gamble
2008-05-12 06:16:00
We're run by monkeys folks. Monkeys I tell ya. Fat, corrupt, brain-dead monkeys, all too willing to spend taxpayer money to bail out failed housing gamblers and mortgage fraudsters.Thank god the Bestest Smartest President in the History of the United States, the honorable George W. Bush, is in the oval office today, ready to veto this turd.Here's the video. Don't throw things at the screen.
More About: Video , Housing , Gamble , Frank , Barney

Glen Beck gives angryrenter.com some plug - and shows OUTRAGE against Berna
2008-05-12 06:15:00
Renters, home OWNERS and people who didn't gamble on housing are getting heard now. And yes, we're the VAST, VAST majority of voters in America.Here comes the OUTRAGE against what Bush, Paulson, Bernanke, Dodd, Clinton, Frank and the other monkeys in DC are doing.WE'RE THE MAJORITY, WE'RE F*CKING ANGRY, AND WE'RE NOT GOING TO TAKE IT. GOT IT BARNEY FRANK? GOT IT CHRIS DODD? GOT IT BEN BERNANKE?
More About: Beck , Plug , Glen

BUBBLETALK
2008-05-12 00:19:00
BUBBLETALK - New thread to talk about the epic historic housing crash firmly underway. And anything else on your mind...Keep it clean, use tinyurl, don't post full articles, and let me know what I missed. Oh, man, is this getting ugly now...
More About: Bubble

HousingPANIC Stupid Question of the Day
2008-05-11 21:40:00
Would you be more tempted to buy a home that was marketed as "Half Off!!!" simply because it was a steal versus what some fool, victim or fraudster paid before you (regardless of the fundamentals or whether the home was still overpriced)?
More About: Question , Stupid

Full interviews with Obama and McCain for your enjoyment
2008-05-11 14:23:00
Here's 35 minutes of good uncensored interviews with both candidates. I've got a feeling we're going to see a decent, thoughtful and respectful race this fall between these two (now that the cynical power-hungry nut Hillary is gone).McCain will end up losing with honor. And I think that's OK with him - I don't think at his age that he has the fire in the belly to be president. This run is about his "legacy", not about winning. And why does he seem like he's on the verge of snapping every interview I see?Check out the links I have under "Politics" on the right and let me know any other good ones I should add. And enjoy the interviews. This campaign between Obama and McCain is gonna be a good one.
More About: Interviews , Full , Enjoyment

HousingPANIC Quote of the Day
2008-05-11 07:17:00
?Clearly, many people who were betting on rising home prices were hurt when the housing bubble burst, but we can not force taxpayers to insulate everyone from the costs of those bad decisions. If we use tax dollars to bail out everyone who makes a bad decision, we are setting ourselves up for an even larger housing crisis in the future?- New HP Hero Grant Bosse, Republican running for Congress in New Hampshire, May 2008(send a few bucks to Grant Bosse here)
More About: Quote Of The Day , Quote

Too bad Schoolhouse Rock never did one on mortgaes, refi's, HELOC's, negati
2008-05-11 06:58:00
Ignorance of basic personal finance issues in America was a leading contributor to the housing crash and mortgage mess.If I had a dime for every time I read "we didn't know what we were signing" or stories about people who trusted a realtor, or didn't know they had an exploding ARM, or who never took the P/E of housing into consideration, I'd be rich.What complicated this ignorance is the army of commission-hungry conmen (aka 'real estate professionals' and 'mortgage brokers') all to eager to screw the clueless for their commissions. "Just sign here - real estate is ALWAYS your best investment! Home prices NEVER go down!". You know the drill. So, a serious proposal HP'ers for you to do your thing. Let's see if we can get ABC to bring back Schoolhouse Rock to do a special "housing crash" edition. You can email them here. And here's your copy/paste if you're lazy:Dear ABCWe would like you to bring back Schoolhouse Rock for a special edition on mortgages and homebuying...

The Late Great Housing Bubble - just one big orgy of mortgage fraud, and a
2008-05-10 23:32:00
Silly Americans - you thought those skyrocketing housing prices were because "they're not making any more land", or because of "year-round-golf and pro athletes".Nope. It was just one big orgy of fraud. And you fell for it.Silly Americans.Here's just a sampling of headlines today over at the mortage fraud blog. Just a sampling.Florida woman sentenced in fraud schemeFlorida mortgage fraud laws passedValley (CA) man indicted in HELOC fraud allegationConcord (CA) lender indictedTampa man provided false employment referencesCalifornia man given 16 months in deed fraudThree Ohio men indicted in Kentucky fraud caseMan indicted in Ohio apartment fraud chargesTwo plead guilty in Pittsburg area mortgage fraudTexas realtor sentenced to 18 months New Jersey man pleads guilty to mortgage fraud 5 sentenced in Georgia mortgage fraud schemeTwo plead guilty in $35 million fraud in Minnesota
More About: Fraud , Mortgage Fraud , Housing Bubble , Great , Mortgage

BUBBLETALK - Open thread to talk about the housing crash, mortgage meltdown
2008-05-10 10:24:00
Have at it..
More About: Open , Mortgage , Talk , Housing , Crash

HousingPANIC Quote of the Day
2008-05-10 09:28:00
"If you can find another illustration of a company whose stock that's gone down by 95% in one year and is still rated triple-A, I have yet to see it"- Warren Buffet, speaking of about bond insurers Ambac and MBIA laughably retaining their AAA ratings by the corrupt and incompetent ratings agencies likely because of pressure by Hank Paulson and Ben Bernanke in order to prevent a financial collapse, May 2008
More About: Quote Of The Day , Quote

Coming Soon: "It's Morning in America Again"
2008-05-10 09:02:00
Indeed, America is still that "shining city on a hill", a nation like no other, a nation that people around the world still admire, even though they loathe its leadership.George Bush, Dick Cheney and the corrupted clowns on Capitol Hill have taken the US down a path that repulses the vast majority of Americans. A nation which launches unprovoked wars, which tortures people, which consumes and pollutes like no other, which favors its rich at the expense of its poor, which ignores its own Constitution, and which lied, cheated and stole during the greatest robbery of all time - the Late Great Housing Bubble.This election in November will be telling. I believe the American people have had enough. I think the majority no longer believes the lies. I believe America is a nation that sees itself on the wrong path, and seeks dramatic change.I recommend voting every single incumbent out of office, except Ron Paul. Every single corrupted incumbent. The American people need to send Congr...
More About: Morning

HousingPANIC Stupid Question of the Day
2008-05-10 08:33:00
Is our work here:* Nearly done?* Half-way through?* Still just getting started?
More About: Question , Stupid

I don't think you all understand how bad this is gonna get. Got train? Go
2008-05-09 20:54:00
And god forbid you got Maricopa Arizona, Naperville Illinois or any far-flung exurb.Thank you Ben Bernanke. In order to bail out your banker buddies, you've f*cked America.
More About: Train , Understand , Gonna

Anti-Housing-Gambler-Bailout Quote of the Day
2008-05-09 14:20:00
"The American people don't want to make their neighbor's payment when they're having trouble making their own"- Rep. Randy Neugebauer, R-Texas, May 2008
More About: Quote Of The Day , Housing , Anti , Quote , Bailout

Got Inflation?
2008-05-09 14:18:00
If REAL inflation is running at 7% to 11%, doesn't that mean that the US economy growing at only 0.6% really signals a pretty massive recession? And that "flat" US average incomes are actually plummeting? And doesn't that mean that the 12.7% reported fall in home prices is more like 20%?One more time - if you believe the government's inflation number, you are a fool. But it's really not a question of whether you believe it or not, just go to the grocery store and gas station. The real inflation report can be found there.
More About: Inflation

And then, right on schedule, rents started plummeting
2008-05-09 09:56:00
Forget living like Jack Tripper or George Jefferson bitter renters. Now's the time to live like Donald Trump, but for pennies on the dollar, in a nice new house or condo - not an apartment complex.America has millions of vacant homes, millions of failed flippers and desperate accidental landlords, millions of foreclosures and bank owned properties, and millions of reasons why rents will be low and going lower for years to come. And don't be fooled by the government inflation numbers, which will be surpressed by falling rents for years to come.Enjoy bubble sitters. Enjoy bitter renters. You're sitting pretty now.Rental Rates Begin To Drop With Home Prices - Rent Concessions Can Include Up To Three Months Of Free RentIf one were to describe house prices to falling rocks, then, it would be safe to say that rents in South Florida are dropping like boulders."We're just trying to stay competitive," said Frank Leonor of Design Place to CBS4 David Sutta.After years of price increases, p...
More About: Schedule

Burma
2008-05-09 05:24:00
I'd ask you to contribute to the relief cause for Burma (and yes, it's Burma, not Myanmar), but as long as their evil dictator and his henchmen remain in power, the relief likely won't get to the starving and desperate survivors. I'm not sure what to do myself...Once again, it's the failings and complicity of the evil communist rulers in neighboring China that is the root cause of the fresh atrocities in Burma. Inaction and immoral complicity on China's part will now lead to the deaths of tens of thousands of innocents in neighboring Burma.So, what can you do?1) Boycott China and Chinese goods, and know that when you buy Chinese you support evil2) Donate to the Burma relief agencies, in the hopes that one day relief may be allowed into Burma3) Hope for the violent overthrow of the corrupt Burmese government by their starving and desperate people, or even their own soldiers. Desperate times call for desperate measures and I hope to see General Than Shwe and his thugs swinging f...

Will Bernanke and Paulson let Countrywide Toxic Mortage fail (after BofA pu
2008-05-08 22:38:00
It's coming.You can just feel it.Countrywide is about to go belly up, Angelo Mozilo is about to be indicted, and BofA is about to make a run for it.No way this deal goes through as announced. No way. So the question is - is Countrywide "too big to fail"?I don't think so. We're not talking trillions in counter-party risk like Bear Stearns. And we're talking about a company that everyone pretty much knows is going belly up anyway.If you have ANY money in Countrywide, GET IT OUT AND GET IT OUT NOW. Stick a fork in it. This orange pig is toast.Beware Collapse of Bank of America-Countywide Deal
More About: Bernanke , Toxic

HousingPANIC Quote of the Day
2008-05-08 22:21:00
?They really weren?t building homes, they were building mortgages that they could put in to their investors or lenders to put into mortgage-backed securities and in turn sell them to investors in China, France, other parts of this country"- Jay Butler, professor of real estate at party school Arizona State, pulling his head out of his ass long enough to finally realize that an epic, historic and corrupt housing Ponzi Scheme took place under his nose, May 2008
More About: Quote Of The Day , Quote

HousingPANIC Stupid Question of the Day
2008-05-08 15:28:00
Ever make the mistake of thinking someone with a big house, nice cars, expensive clothes and a lavish lifestyle was rich (when indeed they were simply jacked up to their eyeballs in debt)?
More About: Question , Stupid

George W. Bush is the greatest president in the history of the United State
2008-05-08 06:26:00
I've changed my mind.All this time, I thought W. was an incompetent boob.But today - brilliance. Rock-solid genius.George W . Bush - you are my hero. OK, just on this one thing....Bush says he will veto housing-relief billAs the House prepared to vote on a housing-relief bill offered by Democratic leaders, President George W. Bush on Wednesday told the lawmakers, in effect, not to bother."I will veto the bill that's moving through the House today if it makes it to my desk," the president said at the White House, after meeting with Republican House leaders. "I urge members on both sides of the aisle to focus on a good piece of legislation that is being sponsored by Republican members."The president's remarks were not surprising, given that the administration issued a statement on Tuesday evening declaring its opposition and saying that White House advisers would urge the president to veto it.But Bush's personal pledge to veto the measure championed by Representative Barney Frank,...
More About: History , George W Bush

Here's the slide from David Lereah's October 2005 NAR presentation, mocking
2008-05-08 05:39:00
I wish David Lereah could be jailed.I wish David Lereah could be sued.I wish he could be taken out back and tarred and feathered.But alas, he can't. He, the NAR and the 1.2 million realtors lied, America got screwed, commissions got pocketed, and they all get off scott free. David Lereah, Lawrence Yun, Nicholas Retsinas, Kendra Todd, Mike Norman, Greg Swann, Blanche Evans, the list goes on and on...Sure, they'll have to live the rest of their lives knowing they screwed their fellow man for a commission. Sure, Lereah and Yun are unhireable as forecasters or economists, and sure, realtors will NEVER be trusted again. But there's still something missing - some punishment, some retribution, some penalty.I guess we'll just have to go with the public flogging by blog, and be done with it.
More About: Slide , Presentation , October

Blanche Evans, Senior Editor at the laughable and discredited Realty Times,
2008-05-07 17:56:00
Here's Blanche, poor, poor Blanche, finding herself in a massive gaping historic obvious hole, and digging like a crazed fox.Come on Blanche, "blame the media" or "pretend there is no housing crash" is sooooooooo 2007. Ya gotta come up with a new schtick babe. You're embarrassing yourself. Maybe do a Lereah, and come clean. More lies won't make the bad truth go away hon.Her great advice HP'ers? (after being so so so so wrong these past couple of years) "Stop listening to the media. Go buy a home." To which HP says "Never trust Blanche Evans , Realty Times or any realtor on commission ever again."Why Buy Now? Media Is Wrong About Housing SlumpWhy buy a house now? You've been getting bad information. Here's why.The financial press is worried that they might have gone too far -- paralyzing the nation into recession by piling on housing. So they're finally beginning to question the indexes where they get their data, and whether the news is really as bad as it seems. Slowly but s...
More About: Senior , Editor

David Lereah, the most discredited economist in world history, finally admi
2008-05-07 05:35:00
No, this is not a joke. David Lereah, the thoroughly discredited former Chief Cheerleader for the evil National Association of realtors, publisher of the hilarious comedy "Why the Real Estate Boom Will Not Bust", and pinata for this blog among others, has come out of his self-imposed hole.Hey, a guy has to make a living somehow, right?So Lereah has these gems in Newsweek - and no, THIS IS NOT A JOKE."We're not at the bottom," he says. "[People] want it to be near the bottom, but we're not there yet. The leading indicators are still very bad. Pending home sales are still in bad shape. Mortgage applications are low ? There's still supply out there in abundance ? This thing is going to get worse before it gets better.""We're probably going to end up with a 20 percent [decline], but if I'm wrong it will be even more than that" "I didn't think this would turn into an all-out bursting of a balloon for the whole nation""That (lending) got so out of hand, and none of us realized the m...
More About: Economist , History , World , Finally

Ding dong the witch is dead. Now on to the general election of McCain vers
2008-05-07 05:19:00
Thanks for playing Hillary, you power-mad psycho.Now go away.And in the future America, no more sons of presidents and wives of presidents, OK?Now on to the general election - McCain versus Obama. And Americans stuck with two corrupt and incompetent political parties unwilling to address the serious issues that face America, leading the country to ruin.McCain versus Obama - who gets your vote and why?
More About: General , Election , General Election , Dead , Dong

HousingPANIC Quote of the Day
2008-05-07 05:18:00
"Fannie Mae has gone from bad to worse to below rock bottom, and the mortgage company expects losses to be in the depths of fiery hell by next year"- Maurna Desmond, Forbes, May 2008
More About: Quote Of The Day , Quote

HousingPANIC Make You Puke Quote of the Day
2008-05-06 11:38:00
"And when the history is written, it'll be said that we lived in a safer country, and a more hopeful world, because George Bush was President of these United States."- Dick, and I mean Dick, Cheney, May 2008(Bonus questions - will Cheney or Bush be indicted for war crimes by an international tribunal in the future? Will Bush pardon Cheney before leaving office? Will Obama pardon Bush or Cheney? And can Bush hit single digits before January?)
More About: Quote Of The Day , Make , Quote