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The NY Times last Sunday reported that subprime lenders were more active in black and Hispanic areas. For example, in Dallas the top five lenders to blacks were all subprime mortgage companies, whereas for whites they were banks. One reason given for this is that there aren’t so many banks is black neighborhoods. Another reason is that brokers actively sought out borrowers in those areas to refinance in order to release equity to pay other debts.

Irony, satire, or parody are all hallmarks of British humor, and is sometimes difficult for others to understand. The clip is typical of this brand of humor in that it juxstaposes harsh reality with understatement or seeming frivolity. Although many may see this as sneering, it is more to do with political or social comment. Perhaps humor makes it more palatable, or draws the attention of otherwise disinterested parties.

Incidentally, the UK housing market is starting to downturn and I wouldn’t be surprised if “dodgy” loans aren’t part of the undoing there.

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The NY Times last Sunday reported that subprime lenders were more active in black and Hispanic areas. For example, in Dallas the top five lenders to blacks were all subprime mortgage companies, whereas for whites they were banks. One reason given for this is that there aren’t so many banks is black neighborhoods. Another reason is that brokers actively sought out borrowers in those areas to refinance in order to release equity to pay other debts.

Irony, satire, or parody are all hallmarks of British humor, and is sometimes difficult for others to understand. The clip is typical of this brand of humor in that it juxstaposes harsh reality with understatement or seeming frivolity. Although many may see this as sneering, it is more to do with political or social comment. Perhaps humor makes it more palatable, or draws the attention of otherwise disinterested parties.

Incidentally, the UK housing market is starting to downturn and I wouldn’t be surprised if “dodgy” loans aren’t part of the undoing there.

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By which time the fire hazard zones will have been updated and we (hopefully) will be able to see whether these expensive coastal homes are worth the risk anyway.

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By which time the fire hazard zones will have been updated and we (hopefully) will be able to see whether these expensive coastal homes are worth the risk anyway.

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By which time the fire hazard zones will have been updated and we (hopefully) will be able to see whether these expensive coastal homes are worth the risk anyway.

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I think what Alex_angel might have meant was that, people suffering from the trauma of losing their home may feel it’s a little soon to be the target of campaigns. I can empathize with people who may feel opportunists are a little insensitive in trying to cash in on their misfortunes so soon after the event. However, I agree a more charitable angle would take the edge off it.

I was amazed that there were prime time ads appearing on TV, saying ‘now is a great time to buy a house,’ right in the middle of a natural disaster, where hundreds of homes were being burnt to the ground, moreover, when there is also clearly a downturn in the market. That is plain stupidity.

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I think what Alex_angel might have meant was that, people suffering from the trauma of losing their home may feel it’s a little soon to be the target of campaigns. I can empathize with people who may feel opportunists are a little insensitive in trying to cash in on their misfortunes so soon after the event. However, I agree a more charitable angle would take the edge off it.

I was amazed that there were prime time ads appearing on TV, saying ‘now is a great time to buy a house,’ right in the middle of a natural disaster, where hundreds of homes were being burnt to the ground, moreover, when there is also clearly a downturn in the market. That is plain stupidity.

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I think what Alex_angel might have meant was that, people suffering from the trauma of losing their home may feel it’s a little soon to be the target of campaigns. I can empathize with people who may feel opportunists are a little insensitive in trying to cash in on their misfortunes so soon after the event. However, I agree a more charitable angle would take the edge off it.

I was amazed that there were prime time ads appearing on TV, saying ‘now is a great time to buy a house,’ right in the middle of a natural disaster, where hundreds of homes were being burnt to the ground, moreover, when there is also clearly a downturn in the market. That is plain stupidity.

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I don’t see how anyone can predict with any real certainty exactly what effect the fire will have on the local economy and home prices. Only time will tell. That building will take place is a no brainer, but in what volumes is less certain. Presumably insurance claims need to be processed, and that’s assuming that either insurance or Federal aid is in place for everyone. However, my overall take (and this is a personal opinion) is that San Diego is not a particularly attractive place to live at the moment (think New Orleans), and that is almost sure to suppress prices.

As to whether prices have been declining at a slower rate than expected, what was the expected rate (%) of decline, and how much has this differed from reality? One is reminded of a Youtube post on the subject of housing bubbles that compares them to the slow release of air from a tightly pinched balloon. As they say, never expected the expected … but the odds seem heavily in favor of a continued correction. Even the industry heavy weights who have devoted considerable efforts to propping up prices (see the “Schiff-Crash Proof” post), are now conceding the inevitable.

I feel sorry for people who have invested hope in home equity as a means to a more secure retirement, but real sustainable wealth needs to be created out of something concrete (excuse the pun), and not air which is the main component of bubbles. So nothing has been lost, because there were no real gains in the first place (unless you sold at the peak and moved to Belize).

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I don’t see how anyone can predict with any real certainty exactly what effect the fire will have on the local economy and home prices. Only time will tell. That building will take place is a no brainer, but in what volumes is less certain. Presumably insurance claims need to be processed, and that’s assuming that either insurance or Federal aid is in place for everyone. However, my overall take (and this is a personal opinion) is that San Diego is not a particularly attractive place to live at the moment (think New Orleans), and that is almost sure to suppress prices.

As to whether prices have been declining at a slower rate than expected, what was the expected rate (%) of decline, and how much has this differed from reality? One is reminded of a Youtube post on the subject of housing bubbles that compares them to the slow release of air from a tightly pinched balloon. As they say, never expected the expected … but the odds seem heavily in favor of a continued correction. Even the industry heavy weights who have devoted considerable efforts to propping up prices (see the “Schiff-Crash Proof” post), are now conceding the inevitable.

I feel sorry for people who have invested hope in home equity as a means to a more secure retirement, but real sustainable wealth needs to be created out of something concrete (excuse the pun), and not air which is the main component of bubbles. So nothing has been lost, because there were no real gains in the first place (unless you sold at the peak and moved to Belize).

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I don’t see how anyone can predict with any real certainty exactly what effect the fire will have on the local economy and home prices. Only time will tell. That building will take place is a no brainer, but in what volumes is less certain. Presumably insurance claims need to be processed, and that’s assuming that either insurance or Federal aid is in place for everyone. However, my overall take (and this is a personal opinion) is that San Diego is not a particularly attractive place to live at the moment (think New Orleans), and that is almost sure to suppress prices.

As to whether prices have been declining at a slower rate than expected, what was the expected rate (%) of decline, and how much has this differed from reality? One is reminded of a Youtube post on the subject of housing bubbles that compares them to the slow release of air from a tightly pinched balloon. As they say, never expected the expected … but the odds seem heavily in favor of a continued correction. Even the industry heavy weights who have devoted considerable efforts to propping up prices (see the “Schiff-Crash Proof” post), are now conceding the inevitable.

I feel sorry for people who have invested hope in home equity as a means to a more secure retirement, but real sustainable wealth needs to be created out of something concrete (excuse the pun), and not air which is the main component of bubbles. So nothing has been lost, because there were no real gains in the first place (unless you sold at the peak and moved to Belize).

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Basically, we would have to live like Europeans (expecting my door to get kicked down and black-bagged any second now). Well, some think that may not be a bad thing. It’s just a shift of emphasis, nothing to get too troubled about 🙂

Jeremy Rifkin makes some interesting observations below:

http://www.commondreams.org/views04/0817-08.htm

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Basically, we would have to live like Europeans (expecting my door to get kicked down and black-bagged any second now). Well, some think that may not be a bad thing. It’s just a shift of emphasis, nothing to get too troubled about 🙂

Jeremy Rifkin makes some interesting observations below:

http://www.commondreams.org/views04/0817-08.htm

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Basically, we would have to live like Europeans (expecting my door to get kicked down and black-bagged any second now). Well, some think that may not be a bad thing. It’s just a shift of emphasis, nothing to get too troubled about 🙂

Jeremy Rifkin makes some interesting observations below:

http://www.commondreams.org/views04/0817-08.htm

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It never ceases to amaze me, the differing emotive language used to describe the current housing market. “The hardest hit housing market …consolation …brakes on the housing crash.” Shouldn’t this read “housing market that is at last correcting itself …the unfortunate or misguided …may slow the imminent correction.”

My understanding is that we were (are) in a bubble, and that somewhere inside the definition is the term hyper-inflated, in other words over-valued. Please forgive my ignorance, but isn’t that generally a bad thing, viz; it has an eventual negative impact on things. So tell me then, why do so many articles seem to use a language emotionally charged with terms that seem in denial.

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