Did you meet my wife yesterday?

[sdcellar]

Sorry, I couldn’t figure out what else to call the topic…

Anyhoo, my wife went and looked at a home for lease in Carmel Valley yesterday and the kind gentleman that showed her the place turned out to be the owner.

They spent time dicussing our situation and the real estate market and from what it sounded like to me, I wouldn’t be surprised at all if he were a member of this very Piggingtonian society. He even had an answer to the recent poll question regarding the year of the trough (2010-2011).

Are you indeed here? I want to be careful about the amount of detail I provide, but I can tell you that she had our toddler in tow.

[lindismith]

Obviously it wasn’t me, but I did want to say, I find a lot of people who, when talking about the state of the RE market, almost say verbatim what’s written on this board. I can’t tell if they’re reading it, or journalists that are writing about the situation are reading it, and thus just transferring what we say. Make sense?

I’ve found friends saying things like, “catch a falling knife,” and I’d never even heard that expression until I started reading these boards!

[Chrispy]

Here’s the acronyms I recently memorized that those “in the know” say:

FB (effed buyer)
GF (greater fool)
POS (piece of you-know-what)

“pull the trigger” means buying a house
getting a haircut… so-and-so blinked in XYZ community… it’s a whole ‘nother language!

[JES]

I think what we have now are a group of people in the industry who lurk on this site to get the word on the street. Most probably don’t even post.

The insight and paradigm shift that I have gotten from this site is interesting. At least twice a week I find myself engaged in a housing conversation with very intelligent people. Last week, one suggested that banks will forgive buyers who cannot make payments due to resetting ARMS. Another repeated the oft heard argument that San Diego is a nice place to live, and that the local economy and wage gains justify higher prices. Another said that now is the best time to buy a house, and another went so far as to say that he thinks the key is to be contrarian. In his mind, being contrarian means buying now!

[michael]

The falling knife expression has been around for a long time. It is commonly used to refer to a falling stock price. As helpful as this website is I’d be careful to assume that anyone that uses a particular phrase learned it here.

[(former)FormerSanDiegan]

“pull the trigger” and “getting a haircut” have also long been used in discussion stock market trading and stocks taking a price hit. Greater Fool has been around a long time as well.

Now, FB and MEW are fairly unique to the housing bubble.

[Nancy_s soothsayer]

I think FB means F@ck@d Borrower and this originated from one of the earliest blogsites I chanced upon around the beginning of 2005 when I was starting to feel very scared that my POS in San Diego was going to decline in value soon. The blogsite bore the same name (e.g., “Another F@ck@d Borrower” or something like that.) Later on in 2005 or in 2006, the host or blog-owner either suffered incredible boredom (ennui?)or some other personal distraction that took him away from daily postings about his encounters with FB’s. He was (or still is) in the lending business. I miss him (colorful character and passion in print)and his blogs. Because of his blog and of others’, I put my house for sale in mid-2005 and sold.

The blogs similar to this one are truly incredible in giving validation to intuitions or hunches that might give one better odds in the astute mastery of probabilities. After I realized this, I ended my subscriptions to business magazines and journals like Businessweek, Forbes, SD Union-Tribune, and WSJournal. Waste of money for those mainstream media if you can find very informative blogs like this which are honestly way ahead of the curve. To me, the MSM are so behind the curve after reading blogs. Of course, there is the matter of blog selection to cater to one’s tastes. I love blogs now. The best part – they’re FREE!!

Thank you to all the great minds out there who are so generous in posting what data they have plus their great comments and conclusions. Added bonuses are their strong opinions and prognostications. Life is never boring with their predictions too. I don’t mind if predictions are sometimes way-over-there, I just take those that I like and ignore those that I don’t. Simple as that.

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