Meredith Whitney Sees More Trouble for Housing

[temeculaguy]

I like Meredith, she’s made some good calls, she’s easy on the eyes, but she’s not at oracle status just yet. Her big pick the cnbc video praised her for was goldman sachs, up what 10%, c’mon, I can do that, show me something I don’t know, if she had picked citibank at theat time it would impress me as it has more than doubled, but then again she made her name by blowing the whistle on citi. She also married a professional wrester, recently. C- for judgment.

Meredith aside, ENRON is right, there is more in the headline of this thread about r/e than in all the linked info. I just watched a lengthy video and read a long article and the wki bio and 95% of it was not about R/E, when it was, there were lots of qualifiers and partial statements. I read her bio, she’s never really spent time analyzing r/e, she kinda punked case-shiller in the interview, those boys are our rock stars, ease off or bring it with some supporting data. I just don’t like it when someone dismisses a chart or indicator without explaining it in detail and without any number or percentages. She said something to the effect of: case shiller is up because of the loan mods, so ignore it cause they may not work. This would be a great time for a couple of supporting facts.

Maybe she will read this, this is the huge tip of the day. If you use a chart that goes in the direction you said it would or say it will, you don’t need to back that up so much, the chart will suffice (ie, she says goldman will go up, the chart backs her up, she says it will still go up, since the direction is up, no argument from me).

But when you say that something will go down yet the chart shows it going up, you need to bring in twice the supportive info because you are asking me to not believe my lying eyes, it’s posible to get me to believe something (I bought the shamwow, I swear I was drunk), but you need to talk me into it, facts work best.

[paramount]

This is what I’m trying to understand, sorry if it is a little OT (and honestly, I really am confused):

At my work mass layoff’s continue, unemployment up across the country (12+% in California – I think the highest since it’s been recorded) – it’s considered a good month when only 210,000 people lose their jobs.

Consumers overall are tapped out, foreclosures still quite high, etc…I know there are other facets to the economy but still things aren’t all that great as far as I can tell.

And yet…

Stock market up up up up up
Auto prices sticky
Gas Prices fairly high and rising
Even discretionary items like boats and RV’s are priced high and never adjusted to the recession
Food prices generally high
Bidding wars on houses

I priced out a boat this summer and I got sticker shock. This and supposedly credit is still tight. And yet inventory still seems to be moving – they were not desperate to make a sale in any way shape or form (the boat dealer in SD).

It’s like I live in another world – maybe I do…

Standard Pacific is selling homes at bubble level prices in Wolf Creek – from some of them you could throw a rock and hit the casino.

[paramount]

This is what I’m trying to understand, sorry if it is a little OT (and honestly, I really am confused):

At my work mass layoff’s continue, unemployment up across the country (12+% in California – I think the highest since it’s been recorded) – it’s considered a good month when only 210,000 people lose their jobs.

Consumers overall are tapped out, foreclosures still quite high, etc…I know there are other facets to the economy but still things aren’t all that great as far as I can tell.

And yet…

Stock market up up up up up
Auto prices sticky
Gas Prices fairly high and rising
Even discretionary items like boats and RV’s are priced high and never adjusted to the recession
Food prices generally high
Bidding wars on houses

I priced out a boat this summer and I got sticker shock. This and supposedly credit is still tight. And yet inventory still seems to be moving – they were not desperate to make a sale in any way shape or form (the boat dealer in SD).

It’s like I live in another world – maybe I do…

Standard Pacific is selling homes at bubble level prices in Wolf Creek – from some of them you could throw a rock and hit the casino.

[paramount]

This is what I’m trying to understand, sorry if it is a little OT (and honestly, I really am confused):

At my work mass layoff’s continue, unemployment up across the country (12+% in California – I think the highest since it’s been recorded) – it’s considered a good month when only 210,000 people lose their jobs.

Consumers overall are tapped out, foreclosures still quite high, etc…I know there are other facets to the economy but still things aren’t all that great as far as I can tell.

And yet…

Stock market up up up up up
Auto prices sticky
Gas Prices fairly high and rising
Even discretionary items like boats and RV’s are priced high and never adjusted to the recession
Food prices generally high
Bidding wars on houses

I priced out a boat this summer and I got sticker shock. This and supposedly credit is still tight. And yet inventory still seems to be moving – they were not desperate to make a sale in any way shape or form (the boat dealer in SD).

It’s like I live in another world – maybe I do…

Standard Pacific is selling homes at bubble level prices in Wolf Creek – from some of them you could throw a rock and hit the casino.

[paramount]

This is what I’m trying to understand, sorry if it is a little OT (and honestly, I really am confused):

At my work mass layoff’s continue, unemployment up across the country (12+% in California – I think the highest since it’s been recorded) – it’s considered a good month when only 210,000 people lose their jobs.

Consumers overall are tapped out, foreclosures still quite high, etc…I know there are other facets to the economy but still things aren’t all that great as far as I can tell.

And yet…

Stock market up up up up up
Auto prices sticky
Gas Prices fairly high and rising
Even discretionary items like boats and RV’s are priced high and never adjusted to the recession
Food prices generally high
Bidding wars on houses

I priced out a boat this summer and I got sticker shock. This and supposedly credit is still tight. And yet inventory still seems to be moving – they were not desperate to make a sale in any way shape or form (the boat dealer in SD).

It’s like I live in another world – maybe I do…

Standard Pacific is selling homes at bubble level prices in Wolf Creek – from some of them you could throw a rock and hit the casino.

[paramount]

This is what I’m trying to understand, sorry if it is a little OT (and honestly, I really am confused):

At my work mass layoff’s continue, unemployment up across the country (12+% in California – I think the highest since it’s been recorded) – it’s considered a good month when only 210,000 people lose their jobs.

Consumers overall are tapped out, foreclosures still quite high, etc…I know there are other facets to the economy but still things aren’t all that great as far as I can tell.

And yet…

Stock market up up up up up
Auto prices sticky
Gas Prices fairly high and rising
Even discretionary items like boats and RV’s are priced high and never adjusted to the recession
Food prices generally high
Bidding wars on houses

I priced out a boat this summer and I got sticker shock. This and supposedly credit is still tight. And yet inventory still seems to be moving – they were not desperate to make a sale in any way shape or form (the boat dealer in SD).

It’s like I live in another world – maybe I do…

Standard Pacific is selling homes at bubble level prices in Wolf Creek – from some of them you could throw a rock and hit the casino.

[temeculaguy]

Price out boats and r/v’s in winter, but for the rest of it, I think it may be just how you are looking at it. One of the oldest paintings(tapestry) is applicable, it’s called “the vinegar tasters”, buddha, confucious and lao tzu all tasting vinegar from the same pot yet all three have a different expression on their face. They were tasting the same vinegar, but they had a different attitude as they tasted it so they seemingling had different interpretations.

Some of your observations are correct, but most have an explanation, maybe not a justification but an explanation.

However, lots of things cost less and I believe food costs less. My experience seems to be completely different. Just last night I picked up some take out from pick up stix, they had a buy one get one free entree coupon in the mail, 25 cent wontons and dollar soup without the coupon, my tab for three people was under $20, it’s usually over $40 for about the same stuff. Super walmart just opened by us, the food prices are fairly cheap and the other grocery stores keep lowering theirs, my tab has been going down. Flat screen t.v’s and computers are way cheaper, labor, home improvement stuff, flooring, I’ve been pricing out some projects, all are less than they were five years ago. Two years ago, I would budget $10 a day for lunch, I can get by for $5 a lot of the time now.

-Houses are selling because they are cheaper
-Auto prices might be temporary as they are low on inventory from cash for clunkers, i think they got their future sales early and prices will fall, but then again they hadn’t sold much for a while
-Boats and RV’s always sell well in summer, but there is no excuse for them not to go down from here on out
-Stock market up from march but down from 14000, so it’s up from it’s lows and down from it’s highs, it’s medium.
-I’ll give you gas, I thought we stole iraq’s oil, when do we get that stuff?

[temeculaguy]

Price out boats and r/v’s in winter, but for the rest of it, I think it may be just how you are looking at it. One of the oldest paintings(tapestry) is applicable, it’s called “the vinegar tasters”, buddha, confucious and lao tzu all tasting vinegar from the same pot yet all three have a different expression on their face. They were tasting the same vinegar, but they had a different attitude as they tasted it so they seemingling had different interpretations.

Some of your observations are correct, but most have an explanation, maybe not a justification but an explanation.

However, lots of things cost less and I believe food costs less. My experience seems to be completely different. Just last night I picked up some take out from pick up stix, they had a buy one get one free entree coupon in the mail, 25 cent wontons and dollar soup without the coupon, my tab for three people was under $20, it’s usually over $40 for about the same stuff. Super walmart just opened by us, the food prices are fairly cheap and the other grocery stores keep lowering theirs, my tab has been going down. Flat screen t.v’s and computers are way cheaper, labor, home improvement stuff, flooring, I’ve been pricing out some projects, all are less than they were five years ago. Two years ago, I would budget $10 a day for lunch, I can get by for $5 a lot of the time now.

-Houses are selling because they are cheaper
-Auto prices might be temporary as they are low on inventory from cash for clunkers, i think they got their future sales early and prices will fall, but then again they hadn’t sold much for a while
-Boats and RV’s always sell well in summer, but there is no excuse for them not to go down from here on out
-Stock market up from march but down from 14000, so it’s up from it’s lows and down from it’s highs, it’s medium.
-I’ll give you gas, I thought we stole iraq’s oil, when do we get that stuff?

[temeculaguy]

Price out boats and r/v’s in winter, but for the rest of it, I think it may be just how you are looking at it. One of the oldest paintings(tapestry) is applicable, it’s called “the vinegar tasters”, buddha, confucious and lao tzu all tasting vinegar from the same pot yet all three have a different expression on their face. They were tasting the same vinegar, but they had a different attitude as they tasted it so they seemingling had different interpretations.

Some of your observations are correct, but most have an explanation, maybe not a justification but an explanation.

However, lots of things cost less and I believe food costs less. My experience seems to be completely different. Just last night I picked up some take out from pick up stix, they had a buy one get one free entree coupon in the mail, 25 cent wontons and dollar soup without the coupon, my tab for three people was under $20, it’s usually over $40 for about the same stuff. Super walmart just opened by us, the food prices are fairly cheap and the other grocery stores keep lowering theirs, my tab has been going down. Flat screen t.v’s and computers are way cheaper, labor, home improvement stuff, flooring, I’ve been pricing out some projects, all are less than they were five years ago. Two years ago, I would budget $10 a day for lunch, I can get by for $5 a lot of the time now.

-Houses are selling because they are cheaper
-Auto prices might be temporary as they are low on inventory from cash for clunkers, i think they got their future sales early and prices will fall, but then again they hadn’t sold much for a while
-Boats and RV’s always sell well in summer, but there is no excuse for them not to go down from here on out
-Stock market up from march but down from 14000, so it’s up from it’s lows and down from it’s highs, it’s medium.
-I’ll give you gas, I thought we stole iraq’s oil, when do we get that stuff?

[temeculaguy]

Price out boats and r/v’s in winter, but for the rest of it, I think it may be just how you are looking at it. One of the oldest paintings(tapestry) is applicable, it’s called “the vinegar tasters”, buddha, confucious and lao tzu all tasting vinegar from the same pot yet all three have a different expression on their face. They were tasting the same vinegar, but they had a different attitude as they tasted it so they seemingling had different interpretations.

Some of your observations are correct, but most have an explanation, maybe not a justification but an explanation.

However, lots of things cost less and I believe food costs less. My experience seems to be completely different. Just last night I picked up some take out from pick up stix, they had a buy one get one free entree coupon in the mail, 25 cent wontons and dollar soup without the coupon, my tab for three people was under $20, it’s usually over $40 for about the same stuff. Super walmart just opened by us, the food prices are fairly cheap and the other grocery stores keep lowering theirs, my tab has been going down. Flat screen t.v’s and computers are way cheaper, labor, home improvement stuff, flooring, I’ve been pricing out some projects, all are less than they were five years ago. Two years ago, I would budget $10 a day for lunch, I can get by for $5 a lot of the time now.

-Houses are selling because they are cheaper
-Auto prices might be temporary as they are low on inventory from cash for clunkers, i think they got their future sales early and prices will fall, but then again they hadn’t sold much for a while
-Boats and RV’s always sell well in summer, but there is no excuse for them not to go down from here on out
-Stock market up from march but down from 14000, so it’s up from it’s lows and down from it’s highs, it’s medium.
-I’ll give you gas, I thought we stole iraq’s oil, when do we get that stuff?

[temeculaguy]

Price out boats and r/v’s in winter, but for the rest of it, I think it may be just how you are looking at it. One of the oldest paintings(tapestry) is applicable, it’s called “the vinegar tasters”, buddha, confucious and lao tzu all tasting vinegar from the same pot yet all three have a different expression on their face. They were tasting the same vinegar, but they had a different attitude as they tasted it so they seemingling had different interpretations.

Some of your observations are correct, but most have an explanation, maybe not a justification but an explanation.

However, lots of things cost less and I believe food costs less. My experience seems to be completely different. Just last night I picked up some take out from pick up stix, they had a buy one get one free entree coupon in the mail, 25 cent wontons and dollar soup without the coupon, my tab for three people was under $20, it’s usually over $40 for about the same stuff. Super walmart just opened by us, the food prices are fairly cheap and the other grocery stores keep lowering theirs, my tab has been going down. Flat screen t.v’s and computers are way cheaper, labor, home improvement stuff, flooring, I’ve been pricing out some projects, all are less than they were five years ago. Two years ago, I would budget $10 a day for lunch, I can get by for $5 a lot of the time now.

-Houses are selling because they are cheaper
-Auto prices might be temporary as they are low on inventory from cash for clunkers, i think they got their future sales early and prices will fall, but then again they hadn’t sold much for a while
-Boats and RV’s always sell well in summer, but there is no excuse for them not to go down from here on out
-Stock market up from march but down from 14000, so it’s up from it’s lows and down from it’s highs, it’s medium.
-I’ll give you gas, I thought we stole iraq’s oil, when do we get that stuff?

[patientrenter]

[quote=paramount]…I really am confused…

Stock market up up up up up….
Even discretionary items like boats and RV’s are priced high and never adjusted to the recession
….
Bidding wars on houses[/quote]

How did this happen? Cheap and easy govt money, pumped out in the form of FHA loans, bank loans supported by FDIC guarantees, PPIP subsidies etc…..

[patientrenter]

[quote=paramount]…I really am confused…

Stock market up up up up up….
Even discretionary items like boats and RV’s are priced high and never adjusted to the recession
….
Bidding wars on houses[/quote]

How did this happen? Cheap and easy govt money, pumped out in the form of FHA loans, bank loans supported by FDIC guarantees, PPIP subsidies etc…..

[patientrenter]

[quote=paramount]…I really am confused…

Stock market up up up up up….
Even discretionary items like boats and RV’s are priced high and never adjusted to the recession
….
Bidding wars on houses[/quote]

How did this happen? Cheap and easy govt money, pumped out in the form of FHA loans, bank loans supported by FDIC guarantees, PPIP subsidies etc…..

[patientrenter]

[quote=paramount]…I really am confused…

Stock market up up up up up….
Even discretionary items like boats and RV’s are priced high and never adjusted to the recession
….
Bidding wars on houses[/quote]

How did this happen? Cheap and easy govt money, pumped out in the form of FHA loans, bank loans supported by FDIC guarantees, PPIP subsidies etc…..

[Author]

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