San Diego Housing Market News and Analysis

7.10% please ben save us
http://finance.yahoo.com/intlindices?e=asia

Brutal. I'm also watching the international markets on Bloomberg and CNBC business channels.

Shanghai at about 2100 now. When I see 1500, I'm going to get a taste for Chinese!

f+++ this house

7.32%

Like i said. It's a race to the bottom....globally....

Hong Kong just followed suit and cut interest rates by a full 1%, after Australia.

And there seems to be a coordinated interest rate cut in the brew right now.

This is gonna be interesting to watch....

As usual, Ben's goonna do something, although these days he's taking a really long time to do it, rendering things useless.

You think we'll see 0.5% rates soon? At this point, I wouldn't rule it out completely....

IN GOD WE TRUST

not that fag ben. or paulson

stockstrader, I normally don't extend this advice to you. BUT, I remember reading you said your wife bought property in china. If it's a vacation home, that's one thing. If you actually sunk money in a big way there...for the last time, I'll telling you , consider getting out now....The level of complexity and red tape in RE there is worlds disorderly compared to what you see here. If you're gonna lose money in real estate, you might as well lose it in a place where you can mostly live in most of the time.. Seriously.

Interestingly, taiwan has banned all short selling....

http://www.reuters.com/article/marketsNe...

flu not kissing ur ass but u are the new powayseller of the site at least u have the know how and the brain power, some on this this site have not.

thanks keith

I don't know sort of what you mean by this...But....

Um, actually, I haven't faintest idea what exactly one should do for clear certainty. I'm an amateur running for cover and taking speculative positions at the same time (perhaps foolishly right now anyway). I don't recommend people following me, because I'm about 50% wrong most of the time :)

powayseller posted news events all the time or data.you have posted funny,informative news,polls, down news,relistic ideas. you are the one dude

i beeen here for 2 years 32 weeks thats a long time to be looking at this this housing mess.from a outside view. u keep this site alive.
there is no more housing bubble just a crash of unkown proportions
f--- maron

drank a little too much dude
7.06 f me

Down 8%...

yeah, i can tell :) I hope you're not depressed. Seriously, dude it's not the end of the world. Go find yourself a nice lady or something. The good news in an economic depression, most women can choose between someone that is broke or someone in debt :)

thanks

Nikkei -6.28%, see, it's going back up...Whohoo.

..continuing what I was said...When everyone's broke, then you can quickly weed out the golddiggers from the keepers. Again, back to my original theme...Across all aspects of life, it's a flight "back to quality" :)

dont worrie flu

Rant is on

8.98%

stockstrader, I normally don't extend this advice to you. BUT, I remember reading you said your wife bought property in china.

I told her a year and a half ago we gotta sell the damn thing. It is in her name (because that's the only way I could get the 20% down mortgage from the Bank of China.)

No question the China real estate market decline is now going countrywide and just getting started. This is troubling me every day.

The ONLY thing in favor of keeping that China home is the coming dollar collapse working with the 5:1 leverage of the loan.

In other words, at the same time the value of my China house is falling in nominal RMB, the dollar will probably start collapsing against the RMB. (The dollar has already fallen 17% against the RMB since we bought that home.)

That home is now worth in USD about $350K, where over half is equity. We bought it for $120K, using only $40K of our money (portion of which was used for remodeling) It is a big home: 212 sq m^2

So that house is a nice way to leverage up my dollars (in RMB) to take advantage of accelerating decline in dollar relative to the RMB.

HOPEFULLY, that will hedge against the same time decline in real value of the home measured in RMB, as the Chinese real estate market falls.

It also keeps our marriage strong! Better treat my wife right, or else house and wife go bye bye!

I'll tell you, at least things were in your wife's name. We were doing things in relative's name. I didn't like it, because if you ever get into a legal mess, yeah what legal system? Sue? Anyway, like I said, things are gonna get harry there. Most of the RE we picked up weren't open to the public. Relative of a relative of a relative was a bank exec responsible for financing real estate developers in Shanghai and the outside provinces. And of course real estate developers always extended pre-market homes to the lenders. A lot of shady sh!t frankly regarding "for sure returns".

There's another thing you'll need to consider. Ask your wife about the rules of converting RMB back to any other currencies. My understanding is that while generally there isn't problems converting USD to RMB isn't as easy (government imposed limits to control the currency, on individuals). Businesses are usually excluded from certain rules, so you can read between the lines. Rules might have changed though.

spoke too soon -9.28%...

Looks like Korea is having massive problems too.

http://biz.yahoo.com/rb/081008/business_...

Does anyone really think that our fearless leaders (US & Japan)will allow the carry trade to unwind much more? We know they had plans on the table last spring to intervene, it's only a matter of a few phone calls before they execute the plan and the yen magically climbs back to 105+.

Bring the pain.

Gold hitting 890.

will we crack dow 9000 tommorrow?

S&P500 and NASDAQ Futures trading down 2% at this after-market trading hour.

What the hell?

Earlier today markets sliced through 1,000 on the S&P500 like warm knife through butter...and now markets want to trade LOWER tomorrow??

Yikes. Spooky.

Bring the pain.

This is an excellent mantra, for the times. I like it. However, I think you need to add an exclamation point, as in:

Bring the pain!

There. Better.

peterb, I think you just coined THE classic catch phrase for our dire straits. And it does express a feeling of healthy stoicism.

Depends if helicopter ben picked up that 747 and is ready to fly it tomorrow. If so, I hope he remembered to put gas in the tank. It would also help if he knows how to fly it generally in the right direction.

Then again, it would be interesting to see if he sits on his ass and does nothing till next week, at which point it won't matter if it's a 50pts cut or 75%. He might as well go all in add give us the full 2% cut.

I like the phrase

Got Job?

Coming soon to a theater near you.

I hope the specific application area that I'm in is as recession proof as the analysts are saying it is.

Take a look at gold in 24 hour trading.

ABOVE $900, and heading straight UP like it got a rocket under its ass.

Bring the pain!

I just placed an order for one hundred grand more of GLD to execute at open.

I'm getting a good feeling about gold. The common sheep seem to be getting the gold bug disease, running to safety. That's what I like: lots of damn dumb sheep all deciding to go the same way I'm already going.

I wonder if GOLD breaks through $1,000 tomorrow?

"Got Job?"

I got a comfy six-figure job....but I'm working for a major CM (Contract Manufacturer).

So I'm pretty much f____d. CM's are extremely recession-sensitive. We get paid to take on risk, to lay off employees so our customers don't have to.

Actually, you're not. Consider consulting in china. Seriously. Not as a worker bee if possible.

And UK has partially nationalized it's major banks. Holy moly... Wow, things are coming unglued pretty fast.

http://biz.yahoo.com/ap/081008/eu_britai...

You know, one has to wonder if Paulson originally took that 700billion and bailouted Lehman, would things have gotten this bad this quickly?

I mean, it's sort of like trying to revive a dead patient at this point. Or maybe it was intentional to fvck up the rest of the world. Nah, that would have required too much thought on his part :)