[PerryChase]

Unlike the Japanese, Americans don’t associate much shame with failure. Americans will walk away from their houses when they’re under water. I know that I would.

It’s no longer the local banker that’s holding mortgages. The public is not going to have much sympathy for the giant faceless financial institutions.

[PerryChase]

I would say let them make their own mistakes. Wish them good luck and be there to listen when it crashes.

I have a friend in this situation. I just smile and tell them how great their house is.

Providing real estate advice (or financial advice in general) is like providing relationship advice. It’s a no win proposition. They hate you if you’re right and they hate you if you’re wrong.

[PerryChase]

How can you not know Alan Gin and David Lereah? They are all over the news on real estate. Lereah is the Bush of the Real Estate industry. Gin is his surrogate in San Diego.

We are beating up on them because we’re sick of the spin. We, Piggingtons, know when we’re being lied to; but think of all the recent buyers who will soon be loosing their shirts in real estate. Many of those buyers bought because they had confidence in the “experts.”

[PerryChase]

If you’ve talking about deflection from the real issue and obfuscation, I think the master of spin in Karl Rove. Talk about a “temporary dip and then back in the positive.” Lereah just had to watch TV everyday to learn the tricks of the trade.

[PerryChase]

Looks like because i don’t have cable, i’m missing some interesting programs on TV.

[PerryChase]

Such long commutes are insane. People live in big ugly suburban characterless houses. For what? I’d rather live close to the city in a small but high quality house.

A friend of mine is a pilot. He lives in Chicago but commutes to NYC. At least he gets to fly for free.

Regarding the Affluenza article, I feel that hiring people to do chores is more of a status thing than a necessity. From the cars people drive to the clothes they wear it seems to me like everyone is trying to imitate Hollywood. I can’t wait for the economic downturn that’ll bring everyone back down to reality.

[PerryChase]

jp, you need to create a .jpg file out of graph. Do alt-PrtScn then paste onto an image application, save the file at .jpg then upload.

[PerryChase]

I live in one of those cookie cutter house east of I5 in North County. I don’t hate it per se; but I hate it compared to the alternative of living in a central location such as Bay Park. Living close to the city is so much more enjoyable — the people are more interesting and there’s much more to do.

[PerryChase]

I find it amazing how certain Americans go to Mexico to “enjoy” themselves yet despise the country and the people. Those same Americans would probably not like it if foreigners came to America and criticized us.

I’ve been to Mexico and I find the people to be very kind and helpful. The country is poor and poverty sometimes leads to desperation. There’s a lot of beauty and culture in Mexico.

[PerryChase]

SD Realtor, do you have a map of the new trolley line? I searched online but could not find it. Thanks.

[PerryChase]

Too bad i don’t have cable. I don’t think this shack will sell for even $265k.

[PerryChase]

How do you know that you have termites?

[PerryChase]

New York Times

 

article on 6% and discount brokers.

I might give zip realty a try whem I’m ready to buy.

[PerryChase]

SEPTEMBER 11, 2006
BUSINESS WEEK
BUSINESS OUTLOOK

Housing: The Slump Begins To Hit Payrolls

The housing market’s decline is moving on to the next stage. As home sales and construction activity deteriorate at a faster pace, job growth in areas linked to residential real estate is starting to ebb and even decline outright in some parts of the country where the housing boom has been the strongest.

State employment data show that construction payrolls in California have fallen by more than 11,000 workers during the six months through July. The number of construction workers in Massachusetts, Connecticut, and New Jersey has also fallen over the same period. Meanwhile, hiring in other housing hot spots, such as Maryland, Oregon, and Virginia, is beginning to slow.

When it comes to work in other fields related to real estate, state data are more limited, but they do show some areas where growth is flagging. Among real estate agents and brokers in California, hiring in July cooled to a 4.8% gain from a year ago. That rise is below the 7.8% national pace as of July and is the smallest gain in the state since August, 2002. Hiring in Oregon for real estate-related financial activities increased 1.5% from a year ago in July, a significant slowdown from last July’s 9.5% pace.

The state data are in line with recent trends in the national job figures. According to investment bank UBS (UBS ), residential housing payrolls, which includes construction, financial, retail, and professional services positions, declined by a total of 15,000 jobs in June and July.

The job market for residential construction could turn south more quickly now. July new home sales and housing starts posted the sharpest yearly drops since the mid-1990s, with big declines coming in the once red-hot West and Northeast. Other jobs linked to housing will also decline. The Federal Reserve’s July survey of banks showed the largest share of lenders reporting a drop in mortgage demand since early 2000.

For states such as California, Maryland, and Virginia that experienced the hottest housing markets, the bust may be doubly painful since construction jobs also accounted for a disproportionate part of total job growth during the boom.

By James Mehring in New York

[PerryChase]

http://www.businessweek.com/magazine/toc/06_37/B4000magazine.htm

 

[img_assist|nid=1443|title=Business Week Cover|desc=|link=node|align=left|width=300|height=400]

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