OMG how entertaining is this? I wish they'd do this around here! Can you imagine getting a busload of some of the posters from here together? Better entertainment couldn't be had!
Oh, and as a sign of the times I noticed that the Boston Globe's former "Real Estate" section is now called simply "Homes". So now the section is a marketing instrument lol
I don't get the motive behind joining a tour to scout for this type of crap? Why would you join forces with the competition and place yourself in this situation? Even at an auction, the arms length stuff is a stretch, but to go on a tour with fellow retards? Do they pay money for this.....why?
["What smart stores are doing is creating a new store experience -- both online and off -- so you are not just a merchandise retailer but an experience retailer," said Craig R. Johnson, president of consultancy Customer Growth Partners]
Those high priced consultants must moonlight as comedians. Really funny stuff!
Just watched the video. Judging by the prospective clients, it sounded like they were showing properties in Manila. I was expecting them to feature the show storage in the closets
Ok, I can go you one better (and given time, I see hijack problems, i.e, instead of car-jackings we will see foreclosure bus-jackings ... you heard it here first)!
Welcome to the Foreclosure Bus Tour, a six-hour expedition to show Orlando-area homes and educate potential buyers on the vagaries of snatching foreclosures in a state where the housing market has struggled over the past two years. Real estate agents have also organized tours in California, where the idea seems to have originated, and cities such as Phoenix, Detroit, Kansas City and Jacksonville.
Oh come on, you know damn well this is a NAR-sponsored activity and that this is an opportunity to consolidate retarded lemmings into tours and then make this a more efficient way to market this and expand the auction market, i.e, make it mobile and take the lazy idiots all at the same time, like a casino junket -- which is what this, a casino game, not unlike a floating casino
Re: Foreclosure Bus Tour in Florida Seen as Part of a Growing Trend
Foreclosure bus tours are springing up all overfrom Boston to Chicago to Los Angeles, and they are drawing considerable business. It just goes to show how foreclosures really are becoming an industry, and that they are attracting more interest in many areas than homes on the open market.
A riverboat casino is a type of casino found in several areas of the United States which use a riverboat as a casino. Several states authorized this type of casino to limit the areas where casinos could be constructed.
Meruelo Maddux Tumble Puts Los Angeles on Sale at 65% Discount
By Peter J. Brennan
May 11 (Bloomberg) -- A package of Los Angeles real estate on sale for 35 cents on the dollar is attracting investors to the depressed shares of Meruelo Maddux Properties Inc., the biggest private landowner in the city's four-square-mile downtown.
The stock has plummeted 85 percent since an initial public offering 15 months ago as the global credit crisis threatens to disrupt refinancing of $200 million in mortgage debt coming due in the next 12 months, as well as completion of the city's tallest downtown residential tower.
Meruelo Maddux owns or controls 80 acres including the Little Tokyo Shopping Center, home of the country's largest Japanese supermarket, as well as warehouses and buildings used in Tom Cruise's action film ``Mission Impossible III.''
"I knew I was sitting on time bombs," Forgaard said. "I knew the market was going to go soft and I knew that property values would decline. But I figured that I had enough equity to survive the storm and sell or take the loss and refinance.
"I didn't anticipate a downturn of epic proportions such that home values are 40 percent less than they were," he said"
Damn it, some one wake Tanta (the F--K up) and get her off her Mother Day Thing!
This goes back to the urban myth buullshit from yesterday with faux stories of people walking away and a tsunami of jingle mail...this all hype to excite people and to ramp up a foreclosre bubble atmosphere, and I want Tanta to slam her fist down on the keyboard and take these mothers to task for this absurd mechanism that has been engineered to create an illusion of opportunity!
Furthermore, I stand by what I said yesterday, which is the fact that these type of realtor scumbags are the people that drive people to these illusions and then expand upon false and misleading stories and sell snake oil to retards -- and using a bus and doing this industrial-style is like a CDO-squared!
In closing, I'd like to say that it's ok if I don;t drive the bus, but I would like to design the brochures, or collect tickets.
Oh I'd like that (but I do have a heavy foot, so you'd need to be strapped in firmly)! I could do the commentary:
Over here on the right we have a lovely little fixer-upper only 1.4M reduced from 2.3M! (bus gasps). It was only lived in for 3 months before the family "disappeared"....
In my opinion "walkaways" are exaggerated because the lender wants enforcement against these borrowers. Mortgage holders desire to play the victim card and want to blame certain "cheaters" for the whole mess.
Re: "First the Realtor says no homes on this tour under 500k then goes on to gloat how well homes under 300k are selling."
Yes, YES, Yes! Exactly!!! This is like a sales tactic to bait and switch, to show you a few caddies on the lot that are over-priced and then just happen to stumble upon another deal behind another door that is really a good deal.... and since your here, maybe we should talk about ways to get FHA loans, where you can get in this today, if you sign up before that retard over there talking to his wife, and OH MY GOD, is she motivated...here, I have a pen, just sign where the red arrows are....your making a good choice bub and ahhh,if yah could write me a check, we can get yahs in this today..hows about dat?
Jack Staub read that article too about the guy with 9 homes who foreclosed on all of them. 9 must be a new record. No longer a three of a kind or a full house but a Royal Flush.
CR, in the video, one of the agents makes a claim (towards the end of the video) that inventory of houses below $300k has dropped from 12+ months to under 6 months of inventory. Is such inventory tracked ? Is his claim close to accurate ?
Lets see, if the Gilligan's Island folks were on a three hour tour out of OC when they went missing, they could never have been farther away from home than an hour and a half, right? Wouldn't this have limited the 'desert' islands they could have landed on to Catalina?
...So uh...when is the Spring season officially a bust ? Can we declare the 2009 Spring a bust yet? The fact that so many bottom-callers can't identify a tsunami of deflationary housing forces just makes me more bearish.
Oh, and why would potential coastal property buyers be riding a bus ? Stretch limos on reserve for the RNC/DNC already?
"Lets see, if the Gilligan's Island folks were on a three hour tour out of OC" But the weather started getting rough and the tiny ship was tossed, if not for the courage of the fearless crew the minnow would be lost.
Ok, someone from Vancouver has been here for half and hour, what's the deal?
Considering what the real estate crack-up is doing to the US Dollar, maybe they just want to know how long their Loonies are going to be a Powerhouse Currency.
I'm one of those 'civilians' who just wanted more detail about how, exactly, banks are causing the U.S. economy to circle the drain.
Meruelo Maddux Tumble Puts Los Angeles on Sale at 65% Discount
Whoa. That's a huge project already underway. It's massive. If it goes belly up, that'll make 4 significant projects in downtown LA that have lost their funding in the last 6 months.
I'm sure there's more to come. The developers just refused to build anything that wasn't luxury (read: sans granite counters)
[So uh...when is the Spring season officially a bust ? Can we declare the 2009 Spring a bust yet?]
The problem is, there are enough shimmering bailout schemes on the horizon that we may have a housing recession for another 10 years, and in the end, it'll be much worse than if the bullshit plans never got hatched in the first place. The despair will set in slowly and the recovery will be even slower at this rate, such as to feel like a continuation of the slump.
Look at BlackRock's MLEC, for an example. Gonna be a long grind.
"Tim writes: Jack Staub read that article too about the guy with 9 homes who foreclosed on all of them. 9 must be a new record."
Yea, I read that too. Unfortunately, I don't think his record will last long. There are a lot of other "investors" who are just now beginning to run up against the same problem.
These investors are underwater. In the past, many refied to lock in a teaser rate and pull out cash to cover mortgage payments (and buy a new Ferrari or two!). Now they're stuck, they can no longer service their debt, and they can't restructure it.
What I find telling is how casually they handle their situation. They basically are saying they learned a good lesson but life goes on. "Investors" -- yikes.
A realwhore (um, I mean realtor) will do and say anything for money. I find it hard to beleive that inventory went from 12 to 18 months at the beginning of the year to 6 months supply 5 months later.
What's the over/under on the CPI print this week? Let me guess: 0.1 core & headline 0.2 headline!
And it comes in exactly to nail the numbers! Never mind prices are spiraling out of control almost as insanely as joe6pack's expectations. Hoarding, if the masses can scape together enough dollahs, might be a good hedge.
That "3 million dollar view" house with the sloping floor (only $200K for repairs!) was the funniest thing about the video.
Watching this is like watching Jurassic Park. Dinosaurs come to life. Big n stoooopid n doomed. Between this and reading about underwater SUV's I think I'm going to choke to death on all the popcorn I'm making.
Harsh Reality: I don't know what's more pathetic about that CNN vid- the foreclosures, or the woman walking around obsessively spraying every weed that dares poke its head up.
Wow, talk about grim denial.
Did people actually live in these hideous places? I mean, really. Do people actually think that is the good life? F---ing ugly gigantic houses that all look alike in the dried up desert? Jesus.
TRIVIA NOTE: The "tropic port" from which the S.S. Minnow "set sail" was actually the port of the Waikiki Yacht Club located at 1599 Ala Moana Boulevard in Honolulu, Hawaii. The boat used for the series was a thirty-five foot cabin cruiser found in a Honolulu boat yard. To create its shipwrecked appearance the bow and stern of the boat were marked with chalk circles and a man with a sledgehammer slammed holes into the boat. A crane then lifted up the boat and put it on a barge which was towed to Moloa'a Bay for filming. The Minnow is now resting somewhere in a boat yard in Long Beach, California. The S.S. Minnow was actually named after Newton N. Minnow, the former chairman of the Federal Communications Commission who delivered his now famous speech at a broadcaster's convention in 1961 that denounced television as being "America's vast wasteland." Producer Sherwood Schwartz, insisted Mr. Minnow had "ruined television." Schwartz, of course, was the creator of GILLIGAN'S ISLAND and THE BRADY BUNCH.
In closing, I'd like to say that it's ok if I don;t drive the bus, but I would like to design the brochures, or collect tickets.
Blitzer
Blitzer, everything you write, every last thing, I can hear (and sometimes even see) Colbert delivering in my head, down to the last syllable.
But, what was the topic? Oh, yeah, these aren't subprime, but if you look at the way brokers got around the computer limits, the jumbo loans often had LESS documentation requirement, frighteningly enough. Guess they didn't want to risk inconveniencing the very wealthy. And never imagined the brokers to be such utter short-sighted morons.
I'm trying to imagine this woman (let's call her Weed Woman) and what she's going to be acting like in six months. She'll be running down the streets shooting her Roundup gun at the tumbleweeds.
Personally I think it's astonishing that anything green could even grow in that environment and that it's obscene that she's spraying it with poison.
"barely writes:
What's the over/under on the CPI print this week? Let me guess: 0.1 core & headline 0.2 headline!
And it comes in exactly to nail the numbers! Never mind prices are spiraling out of control almost as insanely as joe6pack's expectations."
Don't have the expectations handy, but they're above the 0.1 - 0.2 levels stated above.
The fact that the CPI hits expectations isn't that big a mystery. It's not very hard to "forecast" gasoline prices from the previous month, after all. Gasoline prices generate most of the monthly volatility in the headline CPI.
The Owner's Equivalent Rent (30% of the index or something like that) is a number that is smoothed out by the BLS's methodology, and the component size insures that inflation rates are smoothed out month-to-month.
Other items like restaurant meals are pretty stable or have seasonal patterns that are well understood.
If inflation actually became more widespread in consumer items (and not wholesale prices), then yeah, there will be more volatility in the numbers. However, given the likelihood of being in a recession, volatility in inflation could turn into a two-way bet.
Plot is based on leaving from Honolulu. Typical for Hollywood, the filming could be anywhere. Newport would have been much more convenient than Honolulu.
OC has certainly changed dramatacally since the show first aired.
You haven't been paying attention. They have them in Stockton. They have them in Vegas, LawyerLiz says they have them in Florida. Hell, they have one in my county.
I got an ad for something like this in the mail 2 weeks ago (Ventura County, CA). It was something like 9 houses in 3 hours... sounded more like a caravan rather than a bus tour. They mentioned that you'd be able to spend 10 minutes in each home (as if that was enough to make an informed choice) and seemed aimed at first time home buyers (I suppose everyone else is locked in).
Also, no kids, since "the kids wouldn't enjoy it". My 2-year old son loves running and climbing around different homes... we took him when we were looking at different developments a year ago. I think there was some 30 minute presentation on buying a REO property... so that's probably where the no kids thing works.
Incredibly sad -- the object of my teenage fantasies reduced to this: Dawn Wells, above, who played the wholesome Mary Ann on Gilligans Island, is serving six months of unsupervised probation after a sheriffs deputy in Idaho arrested her as she was driving home from a surprise birthday party in October, The Associated Press reported. The arresting officer, who described her driving as erratic, said he found half-smoked marijuana joints and two small cases for holding marijuana in the car. Ms. Wells, 69, said she had just given a ride to three hitchhikers and dropped them off when they began smoking. On Feb. 29 she was sentenced to five days in jail, fined $410.50 and placed on probation after pleading guilty to one count of reckless driving. Three misdemeanor counts, including possession of a controlled substance, were dropped. ARTS, BRIEFLY; Footnotes - NY Times
True fact. I can see 'Giligan's Island' from my house; it's Moku O Lo‘e, or 'Coconut Island,' now the home of a marine research center for the Univeristy of Hawaii, that is seen here
The pilot was filmed on location in Hawaii, the series in Hollywood.
I thought they took all the title sequence shots for the series from the pilot - and the harbor they're sailing out of is either Ala Wai in Waikiki or Kakaako/Kewalo in downtown honolulu. But I could be wrong
Thanks for the link to the original opening sequence and theme song, CR - that was cool.
As I recall when that story about Maryanne came out a few weeks ago there was some kind of mug shot released with it and she looked pretty damn good for her age - I'll still take her over Ginger.
Construction on the Medallion, a $125 million mixed-use project on a key plot near the Historic Core, the Toy District and the Civic Center, has been halted. Developer Saeed Farkhondehpour last week said he has stopped work for at least a year because of the sagging economy and rising costs. [...]
Farkhondehpour said he may not be the only developer in a tough spot.
"I know a lot of the developers and property owners Downtown and maybe not too many of them are too frank and open about what's happening. It's bad, things are bad," he said. "Most people like to make a rosy picture."
Oh, and as a sign of the times I noticed that the Boston Globe's former "Real Estate" section is now called simply "Homes". So now the section is a marketing instrument lol Well the RE section alway WAS a marketing instrument. The change represents the fact that "Real Estate," has become the sort of language that one can't use in a family newspaper.
Blitzer- unfortunately these people want a little more than thruppance and sixpence.
In our real estate section, there was a realtor written quasi hopeful article (Brevard). Then in the business section, there were 3 quite negative articles. I guess the realtors are too dumb to read the business section, or the business editors have managed not to be shills.
RE: MaryAnna (get it, marijuana, mary jane, mary anne, mary anna)
Not only does she still look good for 69, but she's also obviously still cool as hell, either for picking up hitchhikers (if the weed wasn't hers), or still smoking a joint with friends on her birthday.
4shzl, by sad I hope you're talking about the arrest. Those cops should be ashamed of themselves.
A three ho-ur tour...
A three ho-ur tour...
(sorry...)
OMG how entertaining is this? I wish they'd do this around here! Can you imagine getting a busload of some of the posters from here together? Better entertainment couldn't be had!
Oh, and as a sign of the times I noticed that the Boston Globe's former "Real Estate" section is now called simply "Homes". So now the section is a marketing instrument lol
Here's a good walk away story (Dude is foreclosing on 9 houses)
Yahoo! 404 - Page Not Found
Should this guy be bailed out? Ya. Thought so.
Fourth!
I don't get the motive behind joining a tour to scout for this type of crap? Why would you join forces with the competition and place yourself in this situation? Even at an auction, the arms length stuff is a stretch, but to go on a tour with fellow retards? Do they pay money for this.....why?
["What smart stores are doing is creating a new store experience -- both online and off -- so you are not just a merchandise retailer but an experience retailer," said Craig R. Johnson, president of consultancy Customer Growth Partners]
Those high priced consultants must moonlight as comedians. Really funny stuff!
ooo the new format, very nice!
So if I had the bus tour, I'd like be saying:
Tanta, I'm not gonna tell yahs again, sit down, and shut your yap!
CR, you stay out of it too, we are not pulling over for lunch, so both of you shut up! We'll be there soon!
Are we there yet? Are we there yet?
Just watched the video. Judging by the prospective clients, it sounded like they were showing properties in Manila. I was expecting them to feature the show storage in the closets
There's still a steep drop ahead in OC.
Ok, I can go you one better (and given time, I see hijack problems, i.e, instead of car-jackings we will see foreclosure bus-jackings ... you heard it here first)!
A SIX HOUR TOUR, yah baby!
Bus Tours Show Properties in Foreclosure
Bus Tours Show Properties in Foreclosure
Welcome to the Foreclosure Bus Tour, a six-hour expedition to show Orlando-area homes and educate potential buyers on the vagaries of snatching foreclosures in a state where the housing market has struggled over the past two years. Real estate agents have also organized tours in California, where the idea seems to have originated, and cities such as Phoenix, Detroit, Kansas City and Jacksonville.
Yep, they're having them in Brevard
county too.
No charge, but you have to qualify to
have a mtg. We can do that.
Actually, I was tempted to go, for the amusement value.
Trouble is, the hub can't ride on a bus for more than a few minutes--gets nauseated.
Maybe my son and I will go, some time when the hub is doing his ham radio thing.
It's stupid, but I just like looking at houses. Fun to dis the ugly colors and decorating.
You can drive the bus, ipodius.
Oh come on, you know damn well this is a NAR-sponsored activity and that this is an opportunity to consolidate retarded lemmings into tours and then make this a more efficient way to market this and expand the auction market, i.e, make it mobile and take the lazy idiots all at the same time, like a casino junket -- which is what this, a casino game, not unlike a floating casino
Re: Foreclosure Bus Tour in Florida Seen as Part of a Growing Trend
By Jason Callen | May 1, 2008
Foreclosure Bus Tour in Florida Seen as Part of a Growing Trend | Foreclosure News
Foreclosure bus tours are springing up all overfrom Boston to Chicago to Los Angeles, and they are drawing considerable business. It just goes to show how foreclosures really are becoming an industry, and that they are attracting more interest in many areas than homes on the open market.
** Seee Also: Riverboat casino - Wikipedia, the free encyclopedia
A riverboat casino is a type of casino found in several areas of the United States which use a riverboat as a casino. Several states authorized this type of casino to limit the areas where casinos could be constructed.
Do you get a bus with a jacuzzi for these kind of properties?
Meruelo Maddux Tumble Puts Los Angeles on Sale at 65% Discount - Bloomberg.com
Meruelo Maddux Tumble Puts Los Angeles on Sale at 65% Discount
By Peter J. Brennan
May 11 (Bloomberg) -- A package of Los Angeles real estate on sale for 35 cents on the dollar is attracting investors to the depressed shares of Meruelo Maddux Properties Inc., the biggest private landowner in the city's four-square-mile downtown.
The stock has plummeted 85 percent since an initial public offering 15 months ago as the global credit crisis threatens to disrupt refinancing of $200 million in mortgage debt coming due in the next 12 months, as well as completion of the city's tallest downtown residential tower.
Meruelo Maddux owns or controls 80 acres including the Little Tokyo Shopping Center, home of the country's largest Japanese supermarket, as well as warehouses and buildings used in Tom Cruise's action film ``Mission Impossible III.''
rest snipped
Blitzer writes:
Fourth!
I don't get the motive behind joining a tour to scout for this type of crap.
sorry couldn't resist...
YouTube -
Highlights
First the Realtor says no homes on this tour under 500k then goes on to gloat how well homes under 300k are selling.
The Realtor says you can get these homes for "little or no money down" thanks to the FHA. Thanks taxpayer!
Why don't they bother picking up the newspapers from the front of the house. Effort America, effort.
This has a long way to go.
How long until we here this from the lenders?:
"I knew I was sitting on time bombs," Forgaard said. "I knew the market was going to go soft and I knew that property values would decline. But I figured that I had enough equity to survive the storm and sell or take the loss and refinance.
"I didn't anticipate a downturn of epic proportions such that home values are 40 percent less than they were," he said"
Damn it, some one wake Tanta (the F--K up) and get her off her Mother Day Thing!
This goes back to the urban myth buullshit from yesterday with faux stories of people walking away and a tsunami of jingle mail...this all hype to excite people and to ramp up a foreclosre bubble atmosphere, and I want Tanta to slam her fist down on the keyboard and take these mothers to task for this absurd mechanism that has been engineered to create an illusion of opportunity!
Furthermore, I stand by what I said yesterday, which is the fact that these type of realtor scumbags are the people that drive people to these illusions and then expand upon false and misleading stories and sell snake oil to retards -- and using a bus and doing this industrial-style is like a CDO-squared!
In closing, I'd like to say that it's ok if I don;t drive the bus, but I would like to design the brochures, or collect tickets.
Hey, I like looking at houses. When
there were open houses within walking distance of my house we walked to them.
If you don't like looking at houses it's ok with me.
And it uses up someone else's gas.
I have not the slightest intention of buying one. Well, ok, if someone were selling a fabulous house for hardly any money, I could be tempted.
But by hardly any money I really mean hardly any and it ain't gonna happen.
In my eyes, Orange County will always be the champ of this bubble.
You can drive the bus, ipodius.
Oh I'd like that (but I do have a heavy foot, so you'd need to be strapped in firmly)! I could do the commentary:
Over here on the right we have a lovely little fixer-upper only 1.4M reduced from 2.3M! (bus gasps). It was only lived in for 3 months before the family "disappeared"....
In my opinion "walkaways" are exaggerated because the lender wants enforcement against these borrowers. Mortgage holders desire to play the victim card and want to blame certain "cheaters" for the whole mess.
Now I'm getting pissed!
Re: "First the Realtor says no homes on this tour under 500k then goes on to gloat how well homes under 300k are selling."
Jack Staub read that article too about the guy with 9 homes who foreclosed on all of them. 9 must be a new record. No longer a three of a kind or a full house but a Royal Flush.
CR, in the video, one of the agents makes a claim (towards the end of the video) that inventory of houses below $300k has dropped from 12+ months to under 6 months of inventory. Is such inventory tracked ? Is his claim close to accurate ?
Regards.
Emergency Video:
The Who - Magic Bus (1972)
YouTube -
Lets see, if the Gilligan's Island folks were on a three hour tour out of OC when they went missing, they could never have been farther away from home than an hour and a half, right? Wouldn't this have limited the 'desert' islands they could have landed on to Catalina?
I know, I know, I'm overthinking this...
...So uh...when is the Spring season officially a bust ? Can we declare the 2009 Spring a bust yet? The fact that so many bottom-callers can't identify a tsunami of deflationary housing forces just makes me more bearish.
Oh, and why would potential coastal property buyers be riding a bus ? Stretch limos on reserve for the RNC/DNC already?
Ok, someone from Vancouver has been here for half and hour, what's the deal?
"Lets see, if the Gilligan's Island folks were on a three hour tour out of OC" But the weather started getting rough and the tiny ship was tossed, if not for the courage of the fearless crew the minnow would be lost.
Well-
They left from a tropic port aboard this tiny ship,...
Did you ever think it might be a ploy by the motorcoach business to boost sales of buses?
Ok, someone from Vancouver has been here for half and hour, what's the deal?
Considering what the real estate crack-up is doing to the US Dollar, maybe they just want to know how long their Loonies are going to be a Powerhouse Currency.
I'm one of those 'civilians' who just wanted more detail about how, exactly, banks are causing the U.S. economy to circle the drain.
Didn't Gilligan die a few years ago?
Meruelo Maddux Tumble Puts Los Angeles on Sale at 65% Discount
Whoa. That's a huge project already underway. It's massive. If it goes belly up, that'll make 4 significant projects in downtown LA that have lost their funding in the last 6 months.
I'm sure there's more to come. The developers just refused to build anything that wasn't luxury (read: sans granite counters)
[So uh...when is the Spring season officially a bust ? Can we declare the 2009 Spring a bust yet?]
The problem is, there are enough shimmering bailout schemes on the horizon that we may have a housing recession for another 10 years, and in the end, it'll be much worse than if the bullshit plans never got hatched in the first place. The despair will set in slowly and the recovery will be even slower at this rate, such as to feel like a continuation of the slump.
Look at BlackRock's MLEC, for an example. Gonna be a long grind.
Grim.
"First the Realtor says no homes on this tour under 500k then goes on to gloat how well homes under 300k are selling."
Anyone riding a bus anywhere should not be looking at half-mil homes, period.
I'm thinking this must be the mortgage short bus.
Passengers in the rear wearing helmets, licking the glass.
I'm thinking a Self Storage Bus Tour!
YouTube -
Who's Magic Bus is good, but I think another good candidate is Weird Al Yankovic,...another one rides the bus
"Tim writes: Jack Staub read that article too about the guy with 9 homes who foreclosed on all of them. 9 must be a new record."
Yea, I read that too. Unfortunately, I don't think his record will last long. There are a lot of other "investors" who are just now beginning to run up against the same problem.
These investors are underwater. In the past, many refied to lock in a teaser rate and pull out cash to cover mortgage payments (and buy a new Ferrari or two!). Now they're stuck, they can no longer service their debt, and they can't restructure it.
What I find telling is how casually they handle their situation. They basically are saying they learned a good lesson but life goes on. "Investors" -- yikes.
A realwhore (um, I mean realtor) will do and say anything for money. I find it hard to beleive that inventory went from 12 to 18 months at the beginning of the year to 6 months supply 5 months later.
I doubt I am the only one skeptical?
What's the over/under on the CPI print this week? Let me guess: 0.1 core & headline 0.2 headline!
And it comes in exactly to nail the numbers! Never mind prices are spiraling out of control almost as insanely as joe6pack's expectations. Hoarding, if the masses can scape together enough dollahs, might be a good hedge.
Chinese Manufacturers Shun Low-Wage Inland for Vietnam, India.
Chinese Manufacturers Shun Low-Wage Inland for Vietnam, India - Bloomberg.com
Funny stuff. However, the Minnow left on its famous three hour tour from Honolulu - not OC.
Although, I believe some of the beach location filming was done on a beach on Catalina Island.
I just checked Google. They looked Catalina and used several locations including Zuma beach (Malibu area), but filmed mostly on Kauai.
No chance from OC. Had to be Hawaii.
Where do you get the Minnow from OC?
CNN video: Gated community ghost town
Video - Breaking News Videos from CNN.com
That "3 million dollar view" house with the sloping floor (only $200K for repairs!) was the funniest thing about the video.
Watching this is like watching Jurassic Park. Dinosaurs come to life. Big n stoooopid n doomed. Between this and reading about underwater SUV's I think I'm going to choke to death on all the popcorn I'm making.
All, here is the intro to Gilligan's island. From 16 second to 22 seconds is Newport Harbor in Orange County.
Best to all.
Harsh Reality: I don't know what's more pathetic about that CNN vid- the foreclosures, or the woman walking around obsessively spraying every weed that dares poke its head up.
Wow, talk about grim denial.
Did people actually live in these hideous places? I mean, really. Do people actually think that is the good life? F---ing ugly gigantic houses that all look alike in the dried up desert? Jesus.
mal, I had a similar reaction. $800K for that house? What?
Best Wishes.
Looks like we have a bit of a "row" brewing over this...
TV ACRES: Cabin Cruisers, Charter and Fishing Boats > SS Minnow (Gilligan's Island)
TRIVIA NOTE: The "tropic port" from which the S.S. Minnow "set sail" was actually the port of the Waikiki Yacht Club located at 1599 Ala Moana Boulevard in Honolulu, Hawaii. The boat used for the series was a thirty-five foot cabin cruiser found in a Honolulu boat yard. To create its shipwrecked appearance the bow and stern of the boat were marked with chalk circles and a man with a sledgehammer slammed holes into the boat. A crane then lifted up the boat and put it on a barge which was towed to Moloa'a Bay for filming. The Minnow is now resting somewhere in a boat yard in Long Beach, California. The S.S. Minnow was actually named after Newton N. Minnow, the former chairman of the Federal Communications Commission who delivered his now famous speech at a broadcaster's convention in 1961 that denounced television as being "America's vast wasteland." Producer Sherwood Schwartz, insisted Mr. Minnow had "ruined television." Schwartz, of course, was the creator of GILLIGAN'S ISLAND and THE BRADY BUNCH.
In closing, I'd like to say that it's ok if I don;t drive the bus, but I would like to design the brochures, or collect tickets.
Blitzer
Blitzer, everything you write, every last thing, I can hear (and sometimes even see) Colbert delivering in my head, down to the last syllable.
But, what was the topic? Oh, yeah, these aren't subprime, but if you look at the way brokers got around the computer limits, the jumbo loans often had LESS documentation requirement, frighteningly enough. Guess they didn't want to risk inconveniencing the very wealthy. And never imagined the brokers to be such utter short-sighted morons.
I'm trying to imagine this woman (let's call her Weed Woman) and what she's going to be acting like in six months. She'll be running down the streets shooting her Roundup gun at the tumbleweeds.
Personally I think it's astonishing that anything green could even grow in that environment and that it's obscene that she's spraying it with poison.
tj & the bear, there are actually two opening sequences for the show - the first was in black & white, the 2nd in color.
In the second opening, it appears two different harbors are used, but the Minnow exits from Newport Harbor in Orange County!
I suppose several places can claim to the port of original of the "three hour tour", and one of those is Orange County.
Best Wishes.
"barely writes:
What's the over/under on the CPI print this week? Let me guess: 0.1 core & headline 0.2 headline!
And it comes in exactly to nail the numbers! Never mind prices are spiraling out of control almost as insanely as joe6pack's expectations."
Don't have the expectations handy, but they're above the 0.1 - 0.2 levels stated above.
The fact that the CPI hits expectations isn't that big a mystery. It's not very hard to "forecast" gasoline prices from the previous month, after all. Gasoline prices generate most of the monthly volatility in the headline CPI.
The Owner's Equivalent Rent (30% of the index or something like that) is a number that is smoothed out by the BLS's methodology, and the component size insures that inflation rates are smoothed out month-to-month.
Other items like restaurant meals are pretty stable or have seasonal patterns that are well understood.
If inflation actually became more widespread in consumer items (and not wholesale prices), then yeah, there will be more volatility in the numbers. However, given the likelihood of being in a recession, volatility in inflation could turn into a two-way bet.
"No chance from OC. Had to be Hawaii."
Plot location and film location are rarely the same. I live and Newport and CR's intro is, without a doubt, Newport Harbor.
Plot is based on leaving from Honolulu. Typical for Hollywood, the filming could be anywhere. Newport would have been much more convenient than Honolulu.
OC has certainly changed dramatacally since the show first aired.
tj&da b
anyone who's ever sailed out of the ala wai boat harbor or surfed magic island knows can verify this to be true.
My Jewish heritage and perverse humor force me to say this:
Make sure you see the exhaust coming out of the bus before you get in the bus.
Although if anybody on the bus actually buys property in CA now, they might end up wishing they were gassed.
A foreclosure bus. Unbelieveable.
Only in LaLa Land.
SoCal is going to get killed once the ALT A's kick in starting 2009-2011. Actually, it is already getting killed.
This sh_t hasn't even started yet.
"A foreclosure bus. Unbelieveable.
Only in LaLa Land."
You haven't been paying attention. They have them in Stockton. They have them in Vegas, LawyerLiz says they have them in Florida. Hell, they have one in my county.
I got an ad for something like this in the mail 2 weeks ago (Ventura County, CA). It was something like 9 houses in 3 hours... sounded more like a caravan rather than a bus tour. They mentioned that you'd be able to spend 10 minutes in each home (as if that was enough to make an informed choice) and seemed aimed at first time home buyers (I suppose everyone else is locked in).
Also, no kids, since "the kids wouldn't enjoy it". My 2-year old son loves running and climbing around different homes... we took him when we were looking at different developments a year ago. I think there was some 30 minute presentation on buying a REO property... so that's probably where the no kids thing works.
Incredibly sad -- the object of my teenage fantasies reduced to this:
Dawn Wells, above, who played the wholesome Mary Ann on Gilligans Island, is serving six months of unsupervised probation after a sheriffs deputy in Idaho arrested her as she was driving home from a surprise birthday party in October, The Associated Press reported. The arresting officer, who described her driving as erratic, said he found half-smoked marijuana joints and two small cases for holding marijuana in the car. Ms. Wells, 69, said she had just given a ride to three hitchhikers and dropped them off when they began smoking. On Feb. 29 she was sentenced to five days in jail, fined $410.50 and placed on probation after pleading guilty to one count of reckless driving. Three misdemeanor counts, including possession of a controlled substance, were dropped.
ARTS, BRIEFLY; Footnotes - NY Times
True fact. I can see 'Giligan's Island' from my house; it's Moku O Lo‘e, or 'Coconut Island,' now the home of a marine research center for the Univeristy of Hawaii, that is seen here
The pilot was filmed on location in Hawaii, the series in Hollywood.
I thought they took all the title sequence shots for the series from the pilot - and the harbor they're sailing out of is either Ala Wai in Waikiki or Kakaako/Kewalo in downtown honolulu. But I could be wrong
Thanks for the link to the original opening sequence and theme song, CR - that was cool.
As I recall when that story about Maryanne came out a few weeks ago there was some kind of mug shot released with it and she looked pretty damn good for her age - I'll still take her over Ginger.
Los Angeles: Medallion Project Abruptly Halted
Construction on the Medallion, a $125 million mixed-use project on a key plot near the Historic Core, the Toy District and the Civic Center, has been halted. Developer Saeed Farkhondehpour last week said he has stopped work for at least a year because of the sagging economy and rising costs. [...]
Farkhondehpour said he may not be the only developer in a tough spot.
"I know a lot of the developers and property owners Downtown and maybe not too many of them are too frank and open about what's happening. It's bad, things are bad," he said. "Most people like to make a rosy picture."
Oh, and as a sign of the times I noticed that the Boston Globe's former "Real Estate" section is now called simply "Homes". So now the section is a marketing instrument lol Well the RE section alway WAS a marketing instrument. The change represents the fact that "Real Estate," has become the sort of language that one can't use in a family newspaper.
Blitzer- unfortunately these people want a little more than thruppance and sixpence.
Of course soon people will be living in the bus.
YouTube -
In our real estate section, there was a realtor written quasi hopeful article (Brevard). Then in the business section, there were 3 quite negative articles. I guess the realtors are too dumb to read the business section, or the business editors have managed not to be shills.
Not that this is a good paper. It isn't.
RE: MaryAnna (get it, marijuana, mary jane, mary anne, mary anna)
Not only does she still look good for 69, but she's also obviously still cool as hell, either for picking up hitchhikers (if the weed wasn't hers), or still smoking a joint with friends on her birthday.
4shzl, by sad I hope you're talking about the arrest. Those cops should be ashamed of themselves.
re: "Here's a good walk away story (Dude is foreclosing on 9 houses)"
Maybe that poor guy can move in with Barney Frank for a few months until things pick up again.
He should sleep on his back though.