Dontbuyahome.com

[john67elco]

I’m dead serious in creating a website to start making people aware of the current trends and cost effectiveness of renting vs. buying… If my wife does get the teaching job in Temecula I will start my pyromania down there. I am going to start the website but better yet, I’m going to pay one of the KB guys to flip my bright pink and white sign pointing them to the website. Sounds silly and crazy but I was talking to my brother about it and if all it did was cost $500.00 and all I got was a ton of laughs it will be very worth it. What you all think?

[Bugs]

What’s the point of getting down and rolling around in the mud with the permabulls? Much better for everyone if we just keep plugging away with the data and let the facts speak for themselves. Don’t forget; the housing bears have taken a beating for the last few years because it is just about impossible to argue with someone who’s making money.

It’s a catch-22. It’s pointless to argue with someone who thinks they’re up and it’s not cool to kick someone when they realize they’re down.

[Anonymous]

Surely you have somthing better to do….

[RightSide]

What permabulls?

Is there a single person here who thinks housing prices are going to go up in the next 12 to 24 months?

I certainly don’t, niether does SDRealtor…mostly what I think this forum consists of people who are hoping prices go down so they can buy cheaper.

I wish there weren’t so many fricking housing bubble blogs out there and so many people posting about it…

PLEASE IF YOU THINK SD HOUSING PRICES ARE GOING TO BE HIGHER THEN THEY ARE NOW IN 18 MONTHS, LET US KNOW THERE IS AT LEAST ONE OF YOU OUT THERE!!!

[lostkitty]

I think it is funny and right to the point. Just go for it. Never know where those wild ideas can lead you in life if you dont follow them.

I would visit your site!

[powayseller]

I’ll donate $250 to your signs.

The realtors will be terrified of you. The buyers will check out the website.

I bet that 95% of people in San Diego don’t know about piggington or the data we have. They only know the headlines in the paper. They have no conviction of where things will go.

Education is critical. If you can stop even 1 person from buying a house, do it!

[lendingbubblecontinues]

“Sophisticated investor” alert! (NOT me…those who know who I am speaking of hopefully get a chuckle)

I’d worry for the safety of the sign-spinner. There is a LOT of hidden concern among wage-earning homeowners, desperate realtors, starving mortgage brokers, etc. Who knows what they will spend their last FEW dollars on? Maybe a gun to mow down a guy doing something more worthwhile than they ever dreamed of doing themeselves?

[PD]

I would say that the number of people in SD who aware of sites like this are probably less than 1%. I’ve been a housing bear for nearly a year and half but only discovered Pigginton’s a few months ago.
I’ve been warning my mother for some time that her house in Phx could go down quite a bit. She keeps telling me that I don’t know what I’m talking about. She reads the paper, she tells me, and knows all about RE. I pointed out that homebuilders and realtors pay a lot of money every month to advertise in the paper.

[john67elco]

Ya lendingbubble I agree. I’m worried about safety of the flipper but the guy I’m planning on using is like the guy from Green Mile. They will need a gun. Plus myself and few others will be off set corner to shoo away any hooligans. I got the foundation of the site made but it’s at its earliest stages. I need a ton of more work on it and need to change domain. The start of it is Here
Like I said I just made it and needs tons of work

“You say housing market will keep rising? Then your stupid for not buying as many homes as you can right now!!!!!!!!!”

[powayseller]

John, the attention getter is great.

PD, your mom sounds like my real smart attorney friend from Phoenix, who was heavily into tech stocks in 1999. By the way, her husband is a very successful RE attorney, representing one of the largest builders in Phoenix. They just built a $2 million home, have kids in private school, travel, lots of cars, etc. They’re a great family. She’s a stay-at-home mom, with lots of hired help. Money is no object, and I hope he will continue finding work as builders cut back on building.

Anyway, I asked my friend in 1999 why she was buying stocks with such high PEs, and no earnings.

She said, “I don’t want to miss the party”.

I responded, “How will you know when the party is over? Can you get out without losing your money?”

“Yes”, she assured me.

In early 2000, as Lucent went from the $70s to the $90s, she bought more Lucent, and told me what a great buy it was. She knew all about their new products, the potential.

In 2002, she admitted she lost a ton of money. She didn’t get out in time. The market moved too fast.

Many smart people lost lots of money. That’s why I was warning the person on the other thread about buying any stock with a PE of 35.

Your mother is like my attorney friend. It’s already crumbling, and she cannot see it.

Doesn’t she read the papers? Phoenix is falling apart, and this is only the beginning. DENIAL. Your mom is in Denial, because she doesn’t want her house to lose value.

[PD]

Powayseller, I agree completely. A few days ago I told her that I would advise her to sell her house if thought she would actually do it. She got angry and demanded to know what they would do then. I suggested renting one of the houses for rent on her street. She didn’t like that idea much. It is very frustrating because almost every penny of their retirement is the shrinking equity in their house. The builder has not dropped the base price yet but is offering huge freebies.

[Anonymous]

Chris Johnston

Absolutely hysterical! I like the beginning of that site. Ironically, I still believe most people think housing will not decline. We in here are in the minority. I can count the number of people on one hand that I have talked to, outside of this blog, that agree with me that a decline will occur.

I would not be too worried about too many blogs getting the word out. Very few overall believe, what we in here know to be true.

Seek out Robert Campbell if you want a bear to consult with. He lives in San Diego, and is very bearish on housing going forward.

[Author]

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