San Diego Housing Bubble News and Analysis

hahaha... Time to go buy a multiple million dollar home and go unemployed.

My thoughts exactly!

The funny thing is all those folks that were cheering for "taxing the rich"...You folks aren't laughing anymore are you???Because everyone that has been financially responsible and/or has money is going to be paying for this.... heh heh....

flu, you took the words right out of my mouth. Breezie, where are you?

Watching Fast Money today. The traders weren't convinced this will do much, especially in bubble areas. It's only $50 bill. and there are many places of the country that are in much worse shape than So. Cal.

Additionally, they said, "the devil is in the details", until they see the specifics of the program, specifically the eligibility criteria, their not buying into it yet...

another example of where they will have a limited amount of money, do you help 500 households in detroit or other hard hit areas on the rust belt that maybe be behind but not by much.. or do you help out 50 households in CA?

Dont worry, if it is actually true, when released it will be revieled to be a totally abstract and very unpopular plan, something akin to all the other bailout plans that have initally seemed so promising only to be discovered to be a fraud or just unworkable.
There will be income requirments, interest rate requirments, payback requirments, and funding limits that will make this more government pork that does little else than stink up the place.

I keep wondering when/if the powers that be will realize that this is just as harmful as helpful.

Your missing a zero. More like 5000 houses in the Detroit vs. 50 houses in coastal CA. Lots of $10,000 houses in the Motor City.

LMAO! You faux fiscal conservatives are at it again. You jump all over a relatively measly $50 billion to the common man while totally ignoring the trillions in bailout money going to the super-rich banker class--can't let the super-rich fall behind on their Maserati payments. Heaven forbid!

Let a hard-working common man who helped build this country get a half-a-food-stamp from the gubmint in order that he might not starve and you guys scream bloody murder. Meanwhile, the same rich a-holes who looted from all of us use the trillions in taxpayer bailout money to pay themselves hundreds of billions in bonuses and you guys look the other way. Pathetic.

I do have to say thought that I'm disappointed that Obama is not raising taxes on the super-rich. He's looking more and more like a member of the good ol' boys' club all the time. It's time for a change. Ralph Nader in '12! If not Nader, we need an honest-to-goodness Marxist in charge. It's better than this fascist, socialist BS we got going on now.

I am concerned that Nader may be too old to run in 2012.

Whaaaa! Whaaa! It's not fair! Why does Johnny get his allowance? He didn't even finish is chores!

Broken record here. I have said it before and will say it again...

If you think this is the last of the shenanigans the administration will pull out of thier hats with regards to housing then you are wrong.. dead wrong... DISCLAIMER... I don't doubt for a second that McCain wouldn't have done something just as lame.

Now as for this admin...

I am very impressed with the current "simulus package" with gems like

- a few hundred million for STD prevention.
- a polar bear exhibit.
- a national health care database.

AWESOME! Forget building up infrastructure like advancing telecom, biotech, soft technology and bolstering private technology driven jobs. We NEED new SOD and we damn well better invest in STD prevention and now.

Remember the math guys... 300k per job created is the current estimate and these are very important jobs right? Lots of high tech skills needed. That will definitely create an intelligent work force.

Hmmmm if it takes 300k to create a single job then me thinks we are in big trouble. Hopefully my kids and grandkids will be living in another country rather then paying the interest off on this.

My last thoughts, anyone notice the how sharp these people at the town hall meetings are that are asking those piercing questions? All I can say is strap in.

Breezie: Did I hear you say you're disappointed in Obama? Noooo! Perish the thought! And, you're opining that we need "an honest-to-goodness Marxist in charge"? Why is that, exactly?

Oh, by the way: Fascists and socialists quite often are the same thing.

I know you probably didn't learn the various political systems in your PoliSci101 class (too busy watching Michael Moore films, were you?), but there you have it.

Your guy, Obama, he ain't any different than the rest of these clowns. I said it before and I'll say it again: Meet the new boss, same as the old boss.

Same old antics with the PPT doing the late buy program in the futures today in the last 50 minutes to stop the meltdown that we were on the verge of. He was critical of Bush yet his PPT is doing exactly what every PPT has done for awhile now, and his treasury sec is worse than Paulson. I put a 5 min chart in my blog of this late day move by the PPT for viewing pleasure, it is a classic PPT move.

I thought he pledged change? Alot of us knew this would happen, I sure wish I had been wrong and hoped I was. He is a disaster when we could least afford it. When the Breeze type people leave his side he truly will be standing alone. Amazing it took such a short time for him to be exposed. You heard him though, we just had an election and I won so get out of my sandbox and go home so I can play!

Hard to leave SDR most other places are in worse shape.

ummm. you people are all a little hihg strung. this is not real money. you think it's coming out of your pocket? no. we're just borrowing it. we're never gonna pay this crap back. why not just borrow 100 trillion? print em up and sell em, or just spread em around. nothing matters anymore...

What's with the outrage over STD prevention? Are you social conservatives afraid that if STDs are cured that people will just go nuts having sex everywhere? Are you aware that AIDs and other STDs can be transmitted at birth?

I think STD prevention is a very good thing. It's much more cost-effective than STD treatment (50 cents for a condom v. a costly trip to the doc).

I feel like this is one of those issues that Republicans use to get religious nutjobs up in arms. Just the mere mention of family planning, STD prevention, or anything other than missionary sex with your wife-who-was-your-first with the lights out and religious nutjobs go all batty.

Use your head: a few hundred million for STD prevention isn't going to break us and may actually end up saving money in the long run. Compare that to the trillions in bank bailouts where the banks just keep going back and back to the trough with hundreds of billions of taxpayer bailout money evaporating on a regular basis.

If nothing else, think of TG who's constantly at risk from potentially unclean strange.

Don't forget the billions that will be spent on the 2010 census, just make sure there is enough minority support for the Democraps.

Wow, I'm pretty surprised. Seems like a lot more people are pissed about Obamawakanobe these days than pre election euphoria.

I guess all o them are some old same old....

So I have a question for some of you folks who entertain anarchy in the future. The way I look at it, the reason why a mass of people haven't quite yet rioted and taken to the street so to speak is because it seems like everyone bought into Obama/Democrat's promise of "change". I just wonder what happens a few months/years later, when we pretty much know it will be same old same old, and padding for special interest, and that in reality this administration is not really that much better than the previous one....What happens when people seeing both Rep and Democrats are both crooks, and lose faith in both parties...Just wondering if hell will break loose then...

I'm quite enjoying the antics. Because frankly, I thought we'd have to wait 4 years before Obama/Democrats drive thie country into bankruptcy and people are disappointed by this party. The way things are going, I give about 1 year befofe people abandon hope of this administration, and plenty of time before the congressional elections, which hopefully people will vote to kick out a bunch of Democrats from office, and restore at least one side of Congress back to Republican control so no more crazy bills get passed.

Just remember, the best government a government incompetent of making decisions (except the really important ones).

Breeze you should be one to talk. If i recall on a previous thread, you were the one suggested people that were poor or with a disease should be neutered

But don't worry Breeze, I hear Nadya Suleman is taking donations and/or your charitable tax dollars.

http://www.thenadyasulemanfamily.com/

You can avoid it by marrying her, though. Come on, take one for the Californian Taxpayers. You don't want to give your money to those 30 year old wall street punks driving Masarattis. And she's obviously in much more need. Let's see some of your wealth re-distribution in action. Spread the wealth man...15 folks are eagerly awaiting.

She might even name one after you. MiniBreezey...

Anyone else noticing the funny google ads on this page...Especially the ones that say

" New Obama Stimulus Checks
I got a new stimulus grant I never need to repay to start a business
www.stimuluscheckgrants.com "

I don't know why everybody is so up in arms about the measly 800 billion. That is only 8% of what the taxpayer is on the hook for. What are we getting for the 9 trillion cash for trash program? At least we get something for the stimulus.

I do not think the problem is so much spend money on STD prevention as what the hell is it doing in a stimulis bill?

Chris: If you want to open some eyes on this board, you should explain the purpose and function of the Plunge Protection Team (PPT).

I'm sure that most Pigg readers would find it very interesting and I'm equally sure that many of them have never heard of the PPT before.

"explain the purpose and function of the Plunge Protection Team (PPT)"

I tried the education approach on this board - after being called 'doom and gloomer', 'conspiracy theorist', being told that I don't know what I'm talking about, etc for 18 months or so I switched modes

now I take one of two approaches

1. slap them upside the head in the hopes they will wake up and smell the coffee

2. throw the truth at them while laughing at the knowledge that they won't believe the truth much less act on it

I had no clue what PPT was so I looked it up on wiki:

http://en.wikipedia.org/wiki/Working_Gro...

Interesting stuff. Doesn't seem like a stretch by any means. If the government is going to throw tons of money at these financial institutions, why not manipulate the market a little bit to prevent things from melting down?

Much like the crotchety old man who "hates" kids and tells them to get off his lawn, you guys need Breeze around here. What would you do if school was not in session?

That being said, STDs? While having sex with Tommy Lee may be stimulating, it has no place on this bill. Maybe they should throw it in the healthcare bill that Pelosi wants to put together in the next year or two.

You know, STD cases on the rise and a friend of mine who works for STDslove.com told me that the new subscribers have increased 30% over 2007. Rising STD rate sparks online dating sites.
It time to take some measures to decrease STD rate!

Well I guess if it takes 350 million to "educate" people about stds than we are screwed. Let me ask every single person who ever reads this.

Did you have to go to see some "counselor" to learn about stds?

Did you have to go to a federally funded class to learn about stds?

Some here think we're borrowing the Trillion or so that the stimulus bill mandates. Wrong. China is already balking at funding us for this. What to do now? Why, we'll just print the dollars for ourselves. This, of course will bring economic disaster to our future. Remember Argentina? In the 1930's Argentina was the 5th wealthiest nation in the world. Then came Juan Peron, the charismatic politician who sought a "Third Way" between capitalism and socialism and who promised "social justice" and "social aid." He fulfilled those promises in spades. In doing so, indebted his country by gigantically increasing the money debt for his socialist projects. The echoes of that debt and reckless spending led to economic crisis 40 years later. Now, instead of being one of the most prosperous countries in the world, today 1 in 5 Argentinians live in dire poverty. And the import of this is that, by printing money to fund the new administration's wasteful programs, Argentina foreshadows what's in store for our future. Don't cry for our children, America.

Maybe the PPT was out buying houses to stabilize that market and the magnitude of it distracted them and lead to the fall of the stock market, which recaptured their attention and lead to the various bailouts, and a resumed plummetting of housing...

*edit*

Just found this from Mish on the PPT:
PPT Conspiracy Theory

So which is it? To believe the former you have to believe that this administration and/or this Fed can routinely carry out such a plan to perfection for 6 years running with no one willing to expose it. Making the problem even more difficult is the fact that most CTs think this administration and this Fed are both completely incompetent. It's time to face the facts. The PPT is simply not operating on a day to day or even a routine basis. In fact it's entirely possible, perhaps even likely, that it has never acted ever.