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lniles
ParticipantWow. Nice table. And those are just the “on the record” contributions (yes, I’m a conspiracy theorist but can’t help it since I live in SD).
ParticipantYes I agree, but my view of the impact on wall street is considerably more pessimistic than that of Mr. Cramer. IMHO consumer confidence will take a big hit when housing falls and it will trickle over to wall street for sure.
Participant[img_assist|nid=3328|title=Whoa.|desc=Whoa. Looks like she remembered to take her medication today and deleted the “why I left piggington” rant. I still love her website though, those crayon drawing overlays on the charts really crack me up.|link=node|align=left|width=466|height=285]
ParticipantIs there a fund that focuses on viagra, depends under garments, mortuaries, health care, crematoriums, and retirement corporations? I’d like to invest in that.
ParticipantComparing low-ballers to bottom-feeders in one line is kind of shady when he doesn't define low-ballers. Is a low-baller someone who offers a fair price on an overpriced home? Do low-ball offers really drag down the price of real estate? So a year from now if housing has declined further is he going to say it was because of all the low-ballers? From the article:
Kent thinks it could take up to four months to sell the foreclosed properties in his listing book, particularly those that appeal to "low-ballers" and "bottom-feeders" willing to wait in order to pressure lenders into taking just 50 cents to 75 cents on the dollar for the homes.
For those homeowners fearing that the "low-ballers" and banks trying to unload foreclosed homes will sap the value of their own properties, Kent suggested that residents could band together to watch out for a property.
May 3, 2007 at 10:41 AM in reply to: Do you think the Major Builders like Pulte are biased against minorities? #51712ParticipantSorry to digress. Thanks for the clarification on whitebread. I like "whitebread" but the ol' standard "cracker" seems to be making a comeback too.
May 3, 2007 at 8:13 AM in reply to: “Those who say the prices are going to go down 50 percent are just yahoos who are not looking at the whole picture,” #51687ParticipantMy neighborhood, recent sales:
28% decline
11595 Caminito La Bar 11, San Diego, CA 92126
03/23/2007: $260,000
07/10/2006: $358,99015% decline
11565 Caminito La Bar 33, San Diego, CA 92126
02/27/2007: $307,000
12/28/2004: $360,00013% decline
11525 Caminito La Bar 54, San Diego, CA 92126
3/12/2007: $354,057
07/15/2005: $409,00011515 Caminito La Bar 84, San Diego, CA 92126
This one is Zestimated at
Value Range: $340,646 – $437,973
Recently sold for $251,000Draw your own conclusions!
May 3, 2007 at 7:37 AM in reply to: Do you think the Major Builders like Pulte are biased against minorities? #51681ParticipantW Word? What’s that? Wh*br*d isn’t something I’ve heard or would be offended by if you spelled it out so please do. Is it wheat bread? Or white/inbred or something?
Anyway, I am white and went to an open house which was selling for a price well under what I can afford. I do go around in shorts/t-shirt and the REA looked me up and down and said “you kids go ahead and play around”. I was shocked because A) I’m 36, B) A REA had the gall to greet someone rudely in this market C) Anyone with any brains in today’s world knows not to judge anything or any one by appearance.
That was a house in NW Mira Mesa for $600k-something. The REA looked Filipina. The next day after playing at the beach all morning I went- covered in sand and with my dog- to an open house in La Jolla for $1M and the white agent there was super-nice and served us cookies.
May 2, 2007 at 5:30 PM in reply to: Foreigner’s credit history checked for visa renewal or green card #51651ParticipantThis website handles visas and has the seal of the state department (I linked to it from the DHS website):
http://www.unitedstatesvisas.gov
I couldn’t find any info on the state dept. website re. credit history checks but I found a law-FAQ for foreigners and someone asked that question. The immigration lawyer’s response was that the only time this would come into play is when the creditor files a legal action against the borrower which may eventually turn into a criminal history.
May 2, 2007 at 4:08 PM in reply to: Foreigner’s credit history checked for visa renewal or green card #51646ParticipantStartingout,
Are you a U.S. citizen?
How long has your husband been here?
How long has he had his green card?I found this out from a foreign friend who had this happen. The also checked her and her husband’s driving records, interestingly.
ParticipantIMHO the stock market, like housing, is not priced by value but rather by emotion and speculation. As only 1 in 7 Americans believe the housing market will go down, they are also extremely optimistic about stocks which keeps them buying which keeps the price up. Especially now, with the prevalence of internet trading, any one can buy and sell with a mouse click, and most people are truly uninformed about stock fundamentals. When I visit a stock broker or financial investor who talks to me about fundamentals, I feel like he’s been in the dark for some time. Warren Buffet strategies don’t work in a world of Homer Simpson traders. It is clear from the last sell-off which was sparked by a little government intervention in China. You are right to be bearish, I’ve moved 80% of my investments into CDs and the remaining 20% I have in foreign stocks with few ties to the American market.
ParticipantI just saw that article and came here to post but you beat me to it! I love the front-page link title: “Housing prices start rebound”. Then you read the first line and see them throwing themselves easy back-outs from this statement: “The worst MAY be over” … “But that’s not to say that home prices are going to immediately start going back up” … “there’s a major wild card: the question of whether a wave of foreclosures might drag down local home prices and exacerbate the current economic slowdown.”
This is a for-real, coffee-out-the-nose LOL. Gotta give ’em credit for this though:
“The hiring pace has slowed considerably”
“Making matters worse, 40 percent of the jobs created during the past year have been in leisure and hospitality, the lowest-paying job category in San Diego, paying an average of $376 per week – less than half the average construction salary of $862.”
I can’t see how they can put this job slowdown in the same article as a hypothesized housing rebound. And $376 per week? That’s less than $20k per year assuming they work every week! Where will those people live?
ParticipantIt is in many ways like 1929, but you can say that about pretty much any historical period.
Here’s a great read on the great depression. You can pick out many similarities to today’s economy. I like the parts about “malfeasance of bankers” and “incompetence of government officials”.
http://en.wikipedia.org/wiki/Great_depression
Interestingly, even in hindsight the cause of the depression is still debated.
Here’s a scary book called “The Second Great Depression: Starting 2007 Ending 2020” :
ParticipantHere ya go. House on a lake with 4 acres for under $200k in the Catskills (upstate NY).
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