[The-Shoveler]

Nor_LA-Temcu-SD-Guy

It was not Trump doing the presentation, Trump just gives his name to these scam-athons where there will be several scam artist pitching different scam ie.. EBay, Tax liens ETC…

The only Trump that was there was his son doing a motovational speaking part (not scaming anyone but the scam artists).

I will not say what he said, Just would not try it myself.

That being said The Ebay, and Tax liens presentations actually sounded plausible.

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

Went to that Trump Real estate and wealth Seminar Last weekend in O.C. (hey they gave you a free lunch and a Trump book).

Anyway when the guy who was doing the latest real estate get rich scam was done and now was taking questions up front. He was surrounded by people who all seem to be saying the same thing, ie…

I got one of those interest only mortgages and now I can’t make the payments anymore !!! — What Do I do !!!!

Anyway I thought it was interesting

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

On a related subject,

Driving in this morning I heard a radio commercial for a law firm, Basically it was if you got one of these option arm loans, don’t go down in flames, Sue the guy who signed you up for the loan.

Should be an interesting year, courts will be busy !!

[The-Shoveler]

2007 Lets see, If we get the recession NR is talking about, I think we could see a significant decline, Say around 10-15% off the Median in So-Cal in general.

If no recession then maybe another 4-6% (slow death by tooth pick).

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

One would think this would be a cause to a call for tighter Credit , But I think somehow the economy is being viewed as part of the war on Terror so is being viewed as cannot go into recession at all costs (just my opinion).

We will see I guess.

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

Another Christmas story,

GOOD DAY FOR: Renting, as about one in five homeowners — 1.1 million people — who took out subprime mortgages in the last two years will end up in foreclosure and lose their houses, according to the Center for Responsible Lending. (The New York Times, free registration required)

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

Yea I to have come to the conclusion that the Government just see housing as being too big to fail, so no matter what happens there will be some form of rescue by the fed, Can you say hyperinflation anyone !!

Don’t know really , We will see I guess.

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

While your at it, Have the White house explain how I am going to afford an 800K house on my salary ( and the wife, kids, and still save for retirement etc…), no maybe don’t do that , they will try to sign me up for one of those interest only loans or worse.

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

We (the wife and I ) just bought some Agricultural land at about 50% of what the area was going for a year ago, Was not our whole wad (the rest in FDIC CD for the moment).

Thought it was a good hedge against falling dollar PLus it has some great views so who knows maybe we will start a small ranch there someday.

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

Not really sure but I think your number are old or not quite correct for the San Diego area.

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

Did you guy’s see that Falling Down post, OH Man that really brought back memories.

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

Was at the Mall in Escondido Yesterday, Seemed more full of lookieloo’s than anything else. Did not see a lot of people carrying bags of stuff, or many people actually at sales counters. But I did spend $75 on a three day time share Vacation.

Just saw this thought I would add.

Sales of existing homes fell in 38 states during the summer, led by steep declines in Arizona, Florida and California, as the once-booming housing market showed further signs of a steep slowdown.
The declines were the largest in once-booming areas of the country. Sales fell by 36 percent in Arizona; 34.2 percent in Florida and 28.6 percent in California.

In all, nine states had sales declines in the summer of 20 percent or more compared to the third quarter of 2005.

The weakness in sales also affected prices with 45 metropolitan areas experiencing price declines, according to a separate survey the Realtors did of 148 metropolitan areas.

The price survey showed that the median — or mid-point — price for an existing home sold in the third quarter dipped to $224,900, down 1.2 percent from a year earlier.

Hmmmm !!

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

What I don’t get is all these Realtors and housing market guru’s keep saying , Buyers are waiting of the side lines,

There’s no one waiting on the Side line guy’s . There at the bottom of the price wall looking up wondering how the hell they could really afford these thing’s.

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

If the above is True, make you wonder who’s been buying them.

Someone seems to be buying them ???

Any Idea’s ???

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

Sure seems like a short squeeze, Did not see anything that said to me, Hey the economy is going up (GDP) 5 to 10 % next year get on board NOW !!!, Just my thoughts but the guy’s in NY hate to lose any money, If you make a buck on WallStreet, It’s a Buck that leaves NY and they hate any bucks leaving NY, Just wait until the boomers decide to cash-in. There will be a lot of K-Marts in the Stock Market on that day in my opinion.

Don’t let them put SS into the Stock market, These guy’s would have a field day !!

[Author]

Posts