[Rt.66]

Here’s the deal with the mountain of wanna-be specuvestors who bid up housing in the bubble as viewed from a casino floor roulet wheel:

The bubble-nuts placed bets by bidding up houses. When houses kept going up they doubled down and bid them ever higher. Over and over they let it ride……a $130k house became a $240k house, which then was bid up to $350k (Weeee, waiter another mojito please, pit boss add it to my marker) and then the more fearless gambler, bubble-nut bet it up to $500k!

When the roulet wheel stopped spinning and they came up lossers they simply said sorry, I did not understand the game and I’m not paying. They walked away from their marker at the casino and left everyone else wondering what to do with super-inflated bets when no one wants to play or pay anymore.

So now we tax payers are stuck with their marker, we get to pay for there drunken casino orgy. We responsible people who could clearly see this was reckless gambling get the entire bill for their steely nerve at the roulet wheel.

Wall Street was different. They lead everyone to believe their 401k was actually in a legitimate casino and that we had a chance of winning. However, the thieving Wall Street insiders do not leave things to chance so they grabbed all the money off the table while the wheel was still spinning and ran! Wash and repeat every 15-20 years.

[Rt.66]

Here’s the deal with the mountain of wanna-be specuvestors who bid up housing in the bubble as viewed from a casino floor roulet wheel:

The bubble-nuts placed bets by bidding up houses. When houses kept going up they doubled down and bid them ever higher. Over and over they let it ride……a $130k house became a $240k house, which then was bid up to $350k (Weeee, waiter another mojito please, pit boss add it to my marker) and then the more fearless gambler, bubble-nut bet it up to $500k!

When the roulet wheel stopped spinning and they came up lossers they simply said sorry, I did not understand the game and I’m not paying. They walked away from their marker at the casino and left everyone else wondering what to do with super-inflated bets when no one wants to play or pay anymore.

So now we tax payers are stuck with their marker, we get to pay for there drunken casino orgy. We responsible people who could clearly see this was reckless gambling get the entire bill for their steely nerve at the roulet wheel.

Wall Street was different. They lead everyone to believe their 401k was actually in a legitimate casino and that we had a chance of winning. However, the thieving Wall Street insiders do not leave things to chance so they grabbed all the money off the table while the wheel was still spinning and ran! Wash and repeat every 15-20 years.

[Rt.66]

Here’s the deal with the mountain of wanna-be specuvestors who bid up housing in the bubble as viewed from a casino floor roulet wheel:

The bubble-nuts placed bets by bidding up houses. When houses kept going up they doubled down and bid them ever higher. Over and over they let it ride……a $130k house became a $240k house, which then was bid up to $350k (Weeee, waiter another mojito please, pit boss add it to my marker) and then the more fearless gambler, bubble-nut bet it up to $500k!

When the roulet wheel stopped spinning and they came up lossers they simply said sorry, I did not understand the game and I’m not paying. They walked away from their marker at the casino and left everyone else wondering what to do with super-inflated bets when no one wants to play or pay anymore.

So now we tax payers are stuck with their marker, we get to pay for there drunken casino orgy. We responsible people who could clearly see this was reckless gambling get the entire bill for their steely nerve at the roulet wheel.

Wall Street was different. They lead everyone to believe their 401k was actually in a legitimate casino and that we had a chance of winning. However, the thieving Wall Street insiders do not leave things to chance so they grabbed all the money off the table while the wheel was still spinning and ran! Wash and repeat every 15-20 years.

[Rt.66]

Here’s the deal with the mountain of wanna-be specuvestors who bid up housing in the bubble as viewed from a casino floor roulet wheel:

The bubble-nuts placed bets by bidding up houses. When houses kept going up they doubled down and bid them ever higher. Over and over they let it ride……a $130k house became a $240k house, which then was bid up to $350k (Weeee, waiter another mojito please, pit boss add it to my marker) and then the more fearless gambler, bubble-nut bet it up to $500k!

When the roulet wheel stopped spinning and they came up lossers they simply said sorry, I did not understand the game and I’m not paying. They walked away from their marker at the casino and left everyone else wondering what to do with super-inflated bets when no one wants to play or pay anymore.

So now we tax payers are stuck with their marker, we get to pay for there drunken casino orgy. We responsible people who could clearly see this was reckless gambling get the entire bill for their steely nerve at the roulet wheel.

Wall Street was different. They lead everyone to believe their 401k was actually in a legitimate casino and that we had a chance of winning. However, the thieving Wall Street insiders do not leave things to chance so they grabbed all the money off the table while the wheel was still spinning and ran! Wash and repeat every 15-20 years.

[Rt.66]

Here’s the deal with the mountain of wanna-be specuvestors who bid up housing in the bubble as viewed from a casino floor roulet wheel:

The bubble-nuts placed bets by bidding up houses. When houses kept going up they doubled down and bid them ever higher. Over and over they let it ride……a $130k house became a $240k house, which then was bid up to $350k (Weeee, waiter another mojito please, pit boss add it to my marker) and then the more fearless gambler, bubble-nut bet it up to $500k!

When the roulet wheel stopped spinning and they came up lossers they simply said sorry, I did not understand the game and I’m not paying. They walked away from their marker at the casino and left everyone else wondering what to do with super-inflated bets when no one wants to play or pay anymore.

So now we tax payers are stuck with their marker, we get to pay for there drunken casino orgy. We responsible people who could clearly see this was reckless gambling get the entire bill for their steely nerve at the roulet wheel.

Wall Street was different. They lead everyone to believe their 401k was actually in a legitimate casino and that we had a chance of winning. However, the thieving Wall Street insiders do not leave things to chance so they grabbed all the money off the table while the wheel was still spinning and ran! Wash and repeat every 15-20 years.

[Rt.66]

I’m seeing people buying REOs for 50% off peak, planning to be flippers in 2-5 years. Its hard to flip now because values are falling so fast. So, people are buying and renting. Problem is they are planning their investment strategy on today’s rents.

When I look at an REO I ask myself if I could cash flow if I needed to undercut the cheapest rental in the hood in order to attract a renter in a a down market. Even at today’s REO prices the numbers going forward don’t work.

In the IE they are still building new homes (lots, oddly) and there is a huge shadow inventory of empty homes that do not show up in the MLS. Rents are going to fall a lot. There are too many houses now, they are still building more and people are leaving CA in droves. Landlord is not a growth industry.

Wait until the coming tax increases take effect and start to hit home.

[Rt.66]

I’m seeing people buying REOs for 50% off peak, planning to be flippers in 2-5 years. Its hard to flip now because values are falling so fast. So, people are buying and renting. Problem is they are planning their investment strategy on today’s rents.

When I look at an REO I ask myself if I could cash flow if I needed to undercut the cheapest rental in the hood in order to attract a renter in a a down market. Even at today’s REO prices the numbers going forward don’t work.

In the IE they are still building new homes (lots, oddly) and there is a huge shadow inventory of empty homes that do not show up in the MLS. Rents are going to fall a lot. There are too many houses now, they are still building more and people are leaving CA in droves. Landlord is not a growth industry.

Wait until the coming tax increases take effect and start to hit home.

[Rt.66]

I’m seeing people buying REOs for 50% off peak, planning to be flippers in 2-5 years. Its hard to flip now because values are falling so fast. So, people are buying and renting. Problem is they are planning their investment strategy on today’s rents.

When I look at an REO I ask myself if I could cash flow if I needed to undercut the cheapest rental in the hood in order to attract a renter in a a down market. Even at today’s REO prices the numbers going forward don’t work.

In the IE they are still building new homes (lots, oddly) and there is a huge shadow inventory of empty homes that do not show up in the MLS. Rents are going to fall a lot. There are too many houses now, they are still building more and people are leaving CA in droves. Landlord is not a growth industry.

Wait until the coming tax increases take effect and start to hit home.

[Rt.66]

I’m seeing people buying REOs for 50% off peak, planning to be flippers in 2-5 years. Its hard to flip now because values are falling so fast. So, people are buying and renting. Problem is they are planning their investment strategy on today’s rents.

When I look at an REO I ask myself if I could cash flow if I needed to undercut the cheapest rental in the hood in order to attract a renter in a a down market. Even at today’s REO prices the numbers going forward don’t work.

In the IE they are still building new homes (lots, oddly) and there is a huge shadow inventory of empty homes that do not show up in the MLS. Rents are going to fall a lot. There are too many houses now, they are still building more and people are leaving CA in droves. Landlord is not a growth industry.

Wait until the coming tax increases take effect and start to hit home.

[Rt.66]

I’m seeing people buying REOs for 50% off peak, planning to be flippers in 2-5 years. Its hard to flip now because values are falling so fast. So, people are buying and renting. Problem is they are planning their investment strategy on today’s rents.

When I look at an REO I ask myself if I could cash flow if I needed to undercut the cheapest rental in the hood in order to attract a renter in a a down market. Even at today’s REO prices the numbers going forward don’t work.

In the IE they are still building new homes (lots, oddly) and there is a huge shadow inventory of empty homes that do not show up in the MLS. Rents are going to fall a lot. There are too many houses now, they are still building more and people are leaving CA in droves. Landlord is not a growth industry.

Wait until the coming tax increases take effect and start to hit home.

[Rt.66]

Before it’s all over, I
Submitted by paramount on February 14, 2009 – 12:27am.
Before it’s all over, I believe my house will drop to about 120k.”

Why do you pick that number? If your house is large (2500 sq’ and up) and in the best areas of Trafficula, then maybe.

The Inland Empire has like the third worst unemployment in the country, bad traffic, bad weather and ugly surroundings. What makes it different than Az communities that are far flung from the job centers? AZ has good weather, lower taxes, less regulation, cheaper cost of living, tons more open space for recreation and the AZ desert is beautiful.

Az towns like Maricopa outside Phoenix and Casa Grande outside Tucson are awesome new master planned communities where you can buy a 2 year old REO for $50k.

Jobs will be the determining factor going forward for your Temecula value. Since CA is not business friendly, tax heavy and expensive, the FIRE economy that fueled the senseless run-up in fantasy prices will not come back. There is simply no industry to replace the phony FIRE jobs Temecula and IE were built on.

People who bought from 2000 in the bubble areas ALL chatted about the appreciation they would enjoy in coming years. Now they ALL chat about how its everyone elses fault that their gamble went bad. Look to Japan for an answer on your mortgage and house value. The Gov. will do what they can to hide reality and you will see your house fall in value for 15 years.

Japan is the succesful model for dealing with the kind of speculator fueled madness this country has seen. Our Gov. is taking the exact same steps as Japan to deal with this mess. It will just take a while for everyone in the bubble states to come to grips with the reality that houses are just another depreciating asset, in a sane world.

[Rt.66]

Before it’s all over, I
Submitted by paramount on February 14, 2009 – 12:27am.
Before it’s all over, I believe my house will drop to about 120k.”

Why do you pick that number? If your house is large (2500 sq’ and up) and in the best areas of Trafficula, then maybe.

The Inland Empire has like the third worst unemployment in the country, bad traffic, bad weather and ugly surroundings. What makes it different than Az communities that are far flung from the job centers? AZ has good weather, lower taxes, less regulation, cheaper cost of living, tons more open space for recreation and the AZ desert is beautiful.

Az towns like Maricopa outside Phoenix and Casa Grande outside Tucson are awesome new master planned communities where you can buy a 2 year old REO for $50k.

Jobs will be the determining factor going forward for your Temecula value. Since CA is not business friendly, tax heavy and expensive, the FIRE economy that fueled the senseless run-up in fantasy prices will not come back. There is simply no industry to replace the phony FIRE jobs Temecula and IE were built on.

People who bought from 2000 in the bubble areas ALL chatted about the appreciation they would enjoy in coming years. Now they ALL chat about how its everyone elses fault that their gamble went bad. Look to Japan for an answer on your mortgage and house value. The Gov. will do what they can to hide reality and you will see your house fall in value for 15 years.

Japan is the succesful model for dealing with the kind of speculator fueled madness this country has seen. Our Gov. is taking the exact same steps as Japan to deal with this mess. It will just take a while for everyone in the bubble states to come to grips with the reality that houses are just another depreciating asset, in a sane world.

[Rt.66]

Before it’s all over, I
Submitted by paramount on February 14, 2009 – 12:27am.
Before it’s all over, I believe my house will drop to about 120k.”

Why do you pick that number? If your house is large (2500 sq’ and up) and in the best areas of Trafficula, then maybe.

The Inland Empire has like the third worst unemployment in the country, bad traffic, bad weather and ugly surroundings. What makes it different than Az communities that are far flung from the job centers? AZ has good weather, lower taxes, less regulation, cheaper cost of living, tons more open space for recreation and the AZ desert is beautiful.

Az towns like Maricopa outside Phoenix and Casa Grande outside Tucson are awesome new master planned communities where you can buy a 2 year old REO for $50k.

Jobs will be the determining factor going forward for your Temecula value. Since CA is not business friendly, tax heavy and expensive, the FIRE economy that fueled the senseless run-up in fantasy prices will not come back. There is simply no industry to replace the phony FIRE jobs Temecula and IE were built on.

People who bought from 2000 in the bubble areas ALL chatted about the appreciation they would enjoy in coming years. Now they ALL chat about how its everyone elses fault that their gamble went bad. Look to Japan for an answer on your mortgage and house value. The Gov. will do what they can to hide reality and you will see your house fall in value for 15 years.

Japan is the succesful model for dealing with the kind of speculator fueled madness this country has seen. Our Gov. is taking the exact same steps as Japan to deal with this mess. It will just take a while for everyone in the bubble states to come to grips with the reality that houses are just another depreciating asset, in a sane world.

[Rt.66]

Before it’s all over, I
Submitted by paramount on February 14, 2009 – 12:27am.
Before it’s all over, I believe my house will drop to about 120k.”

Why do you pick that number? If your house is large (2500 sq’ and up) and in the best areas of Trafficula, then maybe.

The Inland Empire has like the third worst unemployment in the country, bad traffic, bad weather and ugly surroundings. What makes it different than Az communities that are far flung from the job centers? AZ has good weather, lower taxes, less regulation, cheaper cost of living, tons more open space for recreation and the AZ desert is beautiful.

Az towns like Maricopa outside Phoenix and Casa Grande outside Tucson are awesome new master planned communities where you can buy a 2 year old REO for $50k.

Jobs will be the determining factor going forward for your Temecula value. Since CA is not business friendly, tax heavy and expensive, the FIRE economy that fueled the senseless run-up in fantasy prices will not come back. There is simply no industry to replace the phony FIRE jobs Temecula and IE were built on.

People who bought from 2000 in the bubble areas ALL chatted about the appreciation they would enjoy in coming years. Now they ALL chat about how its everyone elses fault that their gamble went bad. Look to Japan for an answer on your mortgage and house value. The Gov. will do what they can to hide reality and you will see your house fall in value for 15 years.

Japan is the succesful model for dealing with the kind of speculator fueled madness this country has seen. Our Gov. is taking the exact same steps as Japan to deal with this mess. It will just take a while for everyone in the bubble states to come to grips with the reality that houses are just another depreciating asset, in a sane world.

[Rt.66]

Before it’s all over, I
Submitted by paramount on February 14, 2009 – 12:27am.
Before it’s all over, I believe my house will drop to about 120k.”

Why do you pick that number? If your house is large (2500 sq’ and up) and in the best areas of Trafficula, then maybe.

The Inland Empire has like the third worst unemployment in the country, bad traffic, bad weather and ugly surroundings. What makes it different than Az communities that are far flung from the job centers? AZ has good weather, lower taxes, less regulation, cheaper cost of living, tons more open space for recreation and the AZ desert is beautiful.

Az towns like Maricopa outside Phoenix and Casa Grande outside Tucson are awesome new master planned communities where you can buy a 2 year old REO for $50k.

Jobs will be the determining factor going forward for your Temecula value. Since CA is not business friendly, tax heavy and expensive, the FIRE economy that fueled the senseless run-up in fantasy prices will not come back. There is simply no industry to replace the phony FIRE jobs Temecula and IE were built on.

People who bought from 2000 in the bubble areas ALL chatted about the appreciation they would enjoy in coming years. Now they ALL chat about how its everyone elses fault that their gamble went bad. Look to Japan for an answer on your mortgage and house value. The Gov. will do what they can to hide reality and you will see your house fall in value for 15 years.

Japan is the succesful model for dealing with the kind of speculator fueled madness this country has seen. Our Gov. is taking the exact same steps as Japan to deal with this mess. It will just take a while for everyone in the bubble states to come to grips with the reality that houses are just another depreciating asset, in a sane world.

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