Forum Replies Created
-
AuthorPosts
-
JWM in SD
ParticipantWOW, I remember seeing that place get built back in 05 when the wife and I were hanging out in LaJolla every weekend. I remember wondering who was building that place.
Have to admit, that is one nice place…damn.
ParticipantThis subject has already been covered here months ago. The problem is that they are already overbuilt based on speculation driven by loose credit which is now tightening. It’s too late.
ParticipantSorry, but I don’t understand how anything you’ve just said is going to prevent housing prices from declining. Does any other poster understand what this guy is saying? You seem to be using the arguments for a housing decline as agruments against it. Bizarro world, I swear.
Like I said, I’m done responding to you anymore, you just don’t want to get it.
May 13, 2007 at 3:11 PM in reply to: “…The forecast was so shocking that I hesitated to print it.” #52710ParticipantBuyout won’t happen for CFC, it would destroy their business model because that would cut them off from their wholesale lender supply. I don’t have any puts in CFC yet. I’m waiting for more definitive Alt A events to occur first.
May 13, 2007 at 2:09 PM in reply to: “…The forecast was so shocking that I hesitated to print it.” #52704Participanthey LS08, my in-laws live in the No. Hollywood and Sherman Oaks areas. What news do you have about those locales?
May 13, 2007 at 1:40 PM in reply to: “…The forecast was so shocking that I hesitated to print it.” #52702Participantyeah, how about that CFC huh? Just keeps defying gravity while angelo continues his “planned sales” of shares. How about that eh?
Just remember folks, everything is great until it isn’t. Examples:
Recent comments by our buddy David Lereah upon exiting from the NAR. Gee, we were going into an upturn and the subprime debacle happened. Everything was great until then.
Or how about the fact that NEW was rated as a strong buy less than a week before it cratered. How about that. Interesting how works isn’t it?
May 13, 2007 at 1:25 PM in reply to: “…The forecast was so shocking that I hesitated to print it.” #52700ParticipantHey Alex, this one is for you buddy 😉
Participant“Additonally the majority of the problemed loans are still coming back to job losses divorce etc. It has not been resets that are creating the majority NOD’s.”
Yes, it is due to EPDs or early payement defaults which is even more concerning when you think about it. The resets are on their way though. Look at the reset graphs that were posted here. The first big wave hits in later 2007.
“Additionlly % rates have remained low. Unemployment data is low. These are driving factors. They are not signaling a turn for the worst.”
Historically low, but higher than during the crazy period between 02 and 06. Once again, we have lots of NODs when rates are low. What does that tell you?? Jobs were lost but replaced with low paying service jobs. Rich stated this explicitly in the recent KPBS interview. The Fed has warned more than once on raising rates to stave off inflation. Don’t think they wont’ raise them.
“Builders and developers used option when they were buying land. They ahve walked away form many of their deals. Supply side economics suggests that they can prop up prices by reducing inventories. This is what they are doing. This type of fuding arragement was not around during the last downturn.”
Builders build. That is what they do. Supply side economics?? Don’t make me laugh, seriously. I gues they will hold onto that inventory at inflated prices while they burn cash building and have to pay their people?? You are talking to someone with years of experience in manufacturing. Holding inventory is bad. Trust me on that one. The builders are undercutting flippers and offering incentives to get their homes to sell. Have not seen the articles about builders getting sued by recent customers because they lowered the prices?? I believe it was lennar.
You need to do better than Raybyrnes. Once again, in flames.
I’m done, I have other things to do than to respond to your ill-informed posts.
ParticipantOnce again, you are ignoring the exogenous factors involved in this past cycle: EXCESS LIQUIDITY!!
That was not present during the last run up and bust in the early nineties. It really is different this time. Toscano addressed this very factor in the KPBS interview that is linked here. Go Watch It.
Participant“Most of the accountants that I know are not typically following their wiives around. I guess they are better at it than you.”
You can never resist the urge to get personal can you? My wife is an active duty member of the Navy because they paid for her pharmacy education which was quite expensive. She had no choice in where she was stationed. So are you suggesting that I should have divorced her so as not to have to leave Chicago. You know what Screw You Raybyrnes.
Second, I don’t have to be involved in the real estate industry to understand what’s going on. That didn’t stop Rich Toscano from starting this blog now did it?
In flames, everytime you freaking moron.
ParticipantAdditionally, that hypothetical neighbor you speak of, well if really did just pull the trigger, then he’s already lost money in this market. If he were to turn around and immediately put that property back on the market, he would lose money on the fees to do so not to mention the declining values and I won’t even get into inflation.
Second, net worth is defined as Assets MINUS LIABILITIES. You see, I was trained in accounting..I know those kinds of things. My net worth is largely liquid..not tied up in depreciating asset and we have 0 debt. Yes, not even student loans.
Once again Raybyrnes, you are not prepared.
Keep posting there Raybyrnes, it’s fun to watch you get shot down in flames everytime. It is truly entertaining.
ParticipantRaybyrnes,
I did buy six years ago, in Chicago. I also sold and made nice chunk of money in 2004 before I moved to San Diego in September of 2004 because my wife is a naval pharmacist and was assigned here. So I guess that makes me a hack. Whatever. You can’t handle it when your arguments are shot down flames by multiple posters. Get lost.
ParticipantWhere is the example??? How about the near vertical rate of growth in foreclosures? You’ve completely ignored what Bugs told you.
You need to get your head of the sand or you are disingenous in your arguments because there is so much evidence to the contrary. Why are you even posting here if this is the best that you can do?
ParticipantYou obviously don’t understand what’s really going on do you?
Some suggested reading for you my ignorant friend:
Calculated Risk
Mish ShedlockI’ve said it numerous times already, this is not a local phenomenon.
-
AuthorPosts