Shopping at Amazon?
Wait! If you click on the Amazon banner link at the top of the page first, HCN will get a percentage of anything you purchase for 24 hours!
Open predictions
Our local book authors
User login
Who's online
There are currently 32 members and 189 guests online.
Currently online
- nova
- JP
- black dog
- Lobbyist Ben Dover
- Rickkk
- Eric
- ResistanceIsFeudal
- 12th Percentile
- gruntled
- RockyR
- Outsider
- burnside
- bearly
- Bruce in Tennessee
- shill
- Cat Daddy
- Nanoo-Nanoo
- gabyjan
- Black Star Ranch
- sscripko
- Mike in Long Island
- Windward.Broach
- traderwalt
- Comrade Kristina
- dr munch
- Mert717
- Cobradriver
- Lurking Lawyer
- RayOnTheFarm
- pavel.chichikov
- Tom Stone
- Tom in AZ
Clearly we have hit bottom. Buy!
Is this thing on?
recovery 'a coming........
Ciao
MS
First?
President Barack Obama believes Timothy Geithner is uniquely qualified to lead the U.S. Treasury Department and has made amends for his tax mistakes by paying what he owes with interest.
Geithner has made amends for tax errors - W.House
| Reuters
Uniquely qualified must mean incompetent or corrupt.
foist
I thought "corrupt" was a job qualification - or at least "corruptible".
So when will Boulder, CO tank? The "values" are insane. I can afford to rent, but the rent/own is just nuts.
I see the bottom. It's way over there @ 430 SPX.
Armstrong and Getty, very good morning radio guys in the Sacramento area, recently discovered that the entire crew of their show is 100k+ underwater in their respective homes. They are contemplating walking away, despite having no problem making payments, and do an entire hour where they take calls from underwater people who walked away.
Sorry for the monster link
http://a1135.g.akamai.net/f/1135/18227/1h/cchannel.download.akamai.com/18227
/podcast/SANFRANCISCO-CA/KNEW-AM/Armstrong%20and%20Getty%2001-26-09%20H4.mp3
?CPROG=PCAST&MARKET=SANFRANCISCO-CA&NG_FORMAT=businessnews&SITE_ID=664&STATI
ON_ID=KNEW-AM&PCAST_AUTHOR=910_KNEW&PCAST_CAT=News_%26_Politics&PCAST_TITLE=
Armstrong_and_Getty_-_910_KNEW
If the link doesn't work, Google "Armstrong and getty podcast" and click on hour four of today's program.
Maybe this way will work
I hear that RE in Galt is a screaming deal nowadays.....
Ciao
MS
El Cliffo - Thanks for the Citi's new jet story.
maybe all that negative equity could be securitized somehow and palmed off on a greater fool? Wanna but a NELOC anyone?
And finally - and probably a very important point - homeowners with negative equity, who manage to avoid foreclosure, will be stuck in their homes for years. - CR
"Stuck Borrowers." That's so much more PG-13 than the usual operative phrase.
Hoops,
Try tinyurl.com next time. Works like a charm.
Craigslist DC is still offering "Investment properties" to a select few. They also have someone who is trading pizza for massages.
mp from last thread.
yep, folks are stocking up.
And I've got to get out there and get some mo' rice and beans, canned goods and pez.
gotta have pez.
obody will be stuck in their homes once all the debts are cancelled.
When that happens, the housing market will party like it's 2005. the only people stuck in their homes will be lenders whose wealth will have evaporated with the government's debt-absolution edict.
Do they take day old slices?
elmer fudd | 01.26.09 - 3:53 pm
The answer is just an email away
do an entire hour where they take calls from underwater people who walked away
They should do a show where they all send jingle mail together, then track the progress of each - read the threatening letters, etc. Call it: Fun with Foreclosure!
CR - I cant think of of an economist-speak term for those stuck in their homes. Surely it is a neg. for labor mobility. Maybe "inelastic debtor"?
there is no move-up buyer - no chain reaction
Definitely not "the real estate ladder" - what is this, a step stool?
"They also have someone who is trading pizza for massages."
Where's that sharp-wit Elvis?
Or does he not do pepperoni jokes?
folks are stocking up
I wish chocolate stored as well as scotch.
Speed - You can always coco futures.
Sorry for the monster link
Hoopajoops, LTD | Homepage | 01.26.09 - 3:49 pm | #
Hoop: tinyurl
there is no move-up buyer - no chain reaction
A lawyer friend of mine started a firm doing 1031 exchanges. For a couple of years great business.
Now, he's toast. There won't be moving-up for decades. Anyone lucky enough to sell will squirrel it away on something up, definitely not real estate.
CR - I cant think of of an economist-speak term for those stuck in their homes. Surely it is a neg. for labor mobility. Maybe "inelastic debtor"?
Barley | 01.26.09 - 3:54 pm | #
Back in 2005 we called it "under house arrest."
Ok, hows this work:
http://tinyurl.com/d6lk9j
I'm halfway through this program. They're getting callers who are neighbors, each defaulted on their home loans at the same time, bought each other's houses in foreclosure, then each leased his respective neighbor's house back to him for the rental price of the monthly payment -- nobody had to move.
Sorry for the monster link
Hoopajoops, LTD | Homepage | 01.26.09 - 3:49 pm | #
Tiny URL is your friend!
Mike2 writes:
there is no move-up buyer - no chain reaction
Definitely not "the real estate ladder" - what is this, a step stool?
Mike2
I had heard some stuff on the real estate blogs about foreigners buying distressed American homes for cash. Maybe they fear civil unrest in their home countries? Anyway, that will probably dry up too.
Back in 2005 we called it "under house arrest
the Madoff moment?
So when will Boulder, CO tank? The "values" are insane. I can afford to rent, but the rent/own is just nuts.
hs | 01.26.09 - 3:47 pm | #
When will they solve the Ramsey murder? Solid work by the detectives and force out there.
...nobody had to move.
Hoopajoops, LTD
WOW - such imagination.
Back in 2005 we called it "under house arrest
the Madoff moment?
elmer fudd | 01.26.09 - 3:58 pm | #
Snigger. Unfortunately in his case the punishment does not fit the crime. By 2006 we were calling them the "immobility class."
"folks are stocking up"
A brand new stock market is bor
Ok Ok ok, third time's the charm - I tested this one and confirmed that it works
http://tinyurl.com/ccg9rc
One experience I related on Jim the Realtor's blog was a friend of mine who bought a Mercedes and had to sell it just over a year later. He also sold tons of his belongings on Craigslist. The fact is, he makes about median wage in SD and bought because he wanted, rather than because he could afford. Needless to say, he also bought a condo in recent years.
I don't blame him because he's young like me and entitled to learn these hard lessons. That's what the real world does - it teaches people to be better by punishing bad decisions. What do you suppose the government is teaching people to be?
Thain Mania commences in one minute...
I don't even have to read yahoo to know the heading "Stocks off the lows for the day"
Company Description: Caterpillar Inc. operates in three principal lines of business: Machinery, Engines and Financial Products.
I lol'd
We're one of those "one and done" buyers (knife catcher on purpose: see my blog of why) in Dec'08.
Our home was listed on MLS as regular sale but the previous owners inherited the property (but took care of estate issues beforehand), so our sellers will not move to buy another home (unless they used the proceeds to become RE speculator -- I doubt it since our offer was 13% less than the second offer but their agent convinced them that our standard mortgage was quicker and assured closing over the other which was FHA).
Bulldozers and hoopajoops! Definitely TARPworthy.
Existing homes sales are notoriously misleading. I don't put an ounce of confidence in housing based on this report.
THE PRAGMATIC CAPITALIST » » POOPING ON THE HOME SALES PARADE
And people are seriously talking about this months data being "the bottom". Are you serious?
CR, did you notice the article on cnn's money that described how RealityTrac has far more foreclosed properties in its database than the MLS maintained by real estate agents?
I'm not shocked, I just look forward to your numbers and graphs on the subject.
Bennet Sedacca calls a Depression(lots of chart porn):
says the "D" word:
Welcome to the Depression-Minyanville
Hmmm we have AXP after the close, wonder how those delinquency rates are going to look...
And people are seriously talking about this months data being "the bottom".TPC
It is, until next month
"Unsympathetic writes:
CR, did you notice the article on cnn's money that described how RealityTrac has far more foreclosed properties in its database than the MLS maintained by real estate agents?"
If it's not listed by realtors, then maybe it doesn't exist? Maybe it's not part of the "real" market? Sound like a realtor comment to you?
Realtytrac shows the house across the street in Pre-foreclosure. It was but it also sold 6 months ago to the guy in it now and he isn't having any issues making his payments. So not so sure how accurate RealytTrac is.
Bennet Sedacca calls a Depression(lots of chart porn):
He's really negative. I bet he has a secret forum also.
Tiny URL is your friend!
Especially if you want somebody to see something they really don't want to see.
When they come to take away our dried food we are going to wish we had organized.
at least canned food can be used as a weapo
these numbers are mostly cooked, AFAICT. Too many peeps hocking, nobody ponying up for these dregs. Just aint much buying/selling at all, at least anecdotally.
Math porn:
1970-75 home sales/population: 0.01
2000-05 home sales/population: 0.02
I like like numbers like I like my women. Very rough, very round, direct and elegant.
at least canned food can be used as a weapon
elmer fudd
.
And a guillotine makes a dandy can opener.
Orrin Hatch says Geitner's mistakes make him MORE qualified for the job.
CR, did you notice the article on cnn's money that described how RealityTrac has far more foreclosed properties in its database than the MLS maintained by real estate agents?"
Just based on watching Jim the REaltor's amusing videos (your 5 minutes of housing zen--now with snark) It seems like the bank has to assign the reo to a realtor, at which point it will be listed. That gap between realitytrac and the mls is the banks being slow or holding back on getting the realtor officially on contract for those houses.
at least canned food can be used as a weapon
If it comes to that. They will have to pry my canned diced tomatos from my cold dead hand.
CR - I cant think of of an economist-speak term for those stuck in their homes. Surely it is a neg. for labor mobility. Maybe "inelastic debtor"?
Barley | 01.26.09 - 3:54 pm
Imagine what communities like Wilmington, OH will be like when the only big employer in town packs up. I see a lot of FOR SALE signs in the yards and hear a lot of crickets this summer. Maybe they could convert the town into a retirement community?
Imagine what communities like Wilmington, OH will be like when the only big employer in town packs up. I see a lot of FOR SALE signs in the yards and hear a lot of crickets this summer. Maybe they could convert the town into a retirement community?
\t
Doc at the Radar Station | 01.26.09 - 4:22 pm | #
Uhhh, if they closed [DHL] wouldn't that alone turn the town into a retirement community?
eventually they become ghost towns. old american traditio
Especially if you want somebody to see something they really don't want to see.
ac | 01.26.09 - 4:15 pm | #
Well, we do rely on honesty and integrity.
Oh, never mind....
How much are non-existing homes?
Uhhh, if they closed [DHL] wouldn't that alone turn the town into a retirement community?
Rob Dawg
On second thought, they might do fine as an exurb. They are only 30 miles from Dayton or Cincinnati.
Wilmington, OH - Google Maps
If there are any jobs in Dayton or Cincinnati that is. Perhaps they could get jobs working on a light rail line to those cities to keep them busy?
Timmay has a 'wonderful giggle'. Bet you didn't know that.
Susan Blader, Dartmouth professor of Asian and Middle Eastern languages and literature who instructed Geithner in Chinese during his first year at the College, said he was a “natural language learner.”
“Tim was international, he was lively and he had this wonderful giggle,” Blader said. “Everyone loved him.”
TheDartmouth.com | Family describes Geithner ‘83’s youth
Susan Blader,
She wanted him. It screams at you from between the lines.
Does Thain actually blink?
On second thought, they might do fine as an exurb. They are only 30 miles from Dayton or Cincinnati.
If there are any jobs in Dayton or Cincinnati that is. Perhaps they could get jobs working on a light rail line to those cities to keep them busy?
Doc at the Radar Station | 01.26.09 - 4:31 pm | #
My sister is in Dayton. Married to a full bird. They fully expect to see Wright-Patterson gutted by the new administration.
Thain - if you don't pay your best people, you destroy your franchise.
Mmmmkay. It's a good thing they paid tens of billions in bonus money.
Otherwise they would have, you know, destroyed their franchise.
And that would have been sad.
karelian writes:
Thain - if you don't pay your best people, you destroy your franchise.
LOL!!!
Wall Street has been exposed...overpayed over and overhyped!
Poor little Kenny. He got taken to the bank by two born and bred NY salesman...Mozilo and Thain....
He does not blink - his eyes are pools of ancient darkness, rich with corruption and iniquity. Doll's eyes, bird's eyes.... eyes of some pitiless creature poised to sink his venom into the veins of a babe at arms.
Thain interview: it wasn't his fault, problems predated him. Maria: so, was the financial situation made clear to BOA last August? Thain (evades direct question) "obviously, we only report quarterly. We lost money in November and December." Maria: was BOA made aware of the financial situation as negotiations were going on?" Thain: "Well, let me answer it this way ... BOA's financial officer was involved." Thain "I thought things were going well. I was there to help." Maria: "What about losing 15 billion dollars?" Thain: "Hoocoodenodeit?" Maria: "About your bonus...." Thain: "Ken Lewis's was higher!" Thain "The best people will go elsewhere if they don't get bonuses - they can get jobs."
"If only Lehman had been saved, none of this would have happened."
GM just closed in Dayton, so no jobs there.
Did he say if we dont pay them, they will leave?
LOL!! Another classic line...
Thain - Wall Street salaries are relatively low...
Somebody get a rope.
Thain "The best people will go elsewhere if they don't get bonuses - they can get jobs."
Where are they going to go? Let them go destroy another company then! This time one that is not too big to fail, so my tax money does not have to pay some wall street scumbags!
Thain: "it needed to be renovated no matter what".
This puppy is good for many a giggle.
My sister is in Dayton. Married to a full bird. They fully expect to see Wright-Patterson gutted by the new administration.
Rob Dawg
I doubt it. There's a museum there!
National Museum of the United States Air Force - Wikipedia, the free encyclopedia
this is deflationary, right? wet sidewalks cause rain, and weimar can't happen here, and we'll pave our streets in gold it'll be so cheap, the gazillions don't matter because it's not moving, we can trust our bankers and politicians, kumbaya my lord kumbaya...
Joseph Stiglitz has a clear explanation of the bailout mess. It is common sense stuff that everybody on this board likely knows. Only the convoluted mind of Bernanke struggles with these simple things and the evil mind of Paulson ignores it.
Commentary: How to rescue the bank bailout - CNN.com .
Thain: "these office renovations would be used by me for many years into the future".
Wow he is a weirdo. What a defense for the $88'000 carpet.
Rob Dawg writes:
Thain - Wall Street salaries are relatively low...
Compared to dictators of third world countries...then Yes!
More Armstrong & Getty 'stay-in', 'walkaway' radio available here
Thain, "About my office, times have changed." Maria: "What was wrong with Stan O'Neill's office?" Thain: "it would have been difficult for me to use. It was different from O'Neill's office?" Maria: "When did you decide to reimburse?" Thain: "We were doing other things to bring down costs." "I've decided now to reimburse."
We are bottoming! It's the bottoming process!
BOA statement : "It's not our fault."
Bottom line: Thain is off to a happy, fat existence. 15 minutes of pain, followed by a life of luxury and ease, for him and all his descendants.
They fully expect to see Wright-Patterson gutted by the new administration.
Rob Dawg | Homepage | 01.26.09 - 4:33 pm | #
Ohio went the correct way this time. Sheppard, Lackland and whatever is in Del Rio need to worry.
"this is deflationary, right? wet sidewalks cause rain, and weimar can't happen here, and we'll pave our streets in gold it'll be so cheap, the gazillions don't matter because it's not moving, we can trust our bankers and politicians, kumbaya my lord kumbaya..."
Ask Schiff's investors how they are doing. Not too well from what I hear. Being right on a thesis and wrong on the timing makes you just as dead as being wrong on the thesis.
I'll be happy to switch over to investing for an inflationary environment as soon as we reach one. Until then I'm happy in cash, treasuries and a bit of short trades.
I wonder what Stan O'Neill's office looked like.. A dark torture chamber with blackened out windows where infants were brought for the ritual sacrifices to the MBS gods? If that is the case, then maybe spending 1.2M to remodel isn't such a bad idea.
I have never wished a case of metastacizing testicular cancer on anyone... jesus give me strength... I am so close to making an exception.
Question is does he pay for the overpriced crap and leave it at Merril for a tax write off?
Tech Tip:
Long, messy URLs got you down? You can use tinyurl, or the inline form.
< a HREF="your_URL"> your highlighted text < /a >
Remove the space before/after the pointy brackets, and use the double quotes around the link to be safe. You can play with funny characters, too, by putting an & in front of (no space) the entry "Name" in this table. Post Like a Pro&trade!
Talk about delusional sellers! This one, in my former Los Gatos (Silicon Valley) neighborhood, at least has a sense of humor:
ZipRealty, Inc. - Sign In
This same house was listed a week ago for $1.2M, but I guess they wanted to get folks attention with a price INCREASE, to $78M. That's right, this house can be yours for an estimated monthly payment of $354K.
Note the funny comment in the listing: "Best property in los gatos above $70 million..", which indicates the price was not a typo.
I blame software for this problem. Seems like so many things in life you can just reboot or press "play again" of you have problems.
The real world is so... messy, and like, you know, there are long term consequences, and everything.
/snark off /valley girl diction off
So when will Boulder, CO tank? The "values" are insane. I can afford to rent, but the rent/own is just nuts.
hs | 01.26.09 - 3:47 pm | #
That is what Longmont is for.
He does not blink - his eyes are pools of ancient darkness, rich with corruption and iniquity. Doll's eyes, bird's eyes.... eyes of some pitiless creature poised to sink his venom into the veins of a babe at arms.
karelian | 01.26.09 - 4:37 pm | #
Very good!
Imagine what communities like Wilmington, OH will be like when the only big employer in town packs up. I see a lot of FOR SALE signs in the yards and hear a lot of crickets this summer. Maybe they could convert the town into a retirement community?
Doc at the Radar Station | 01.26.09 - 4:22 pm | #
Offer all the better class of Iraqi immigrants living in exile in Jordan and Syria a green card if they live and buy in Wilmington. Sure there'll be no jobs; but if they've managed to live through all that, they're sharp enough to come up with something.
I mean, what good's an empire if you can't move people where they're needed?
It means that the chain is broken by there being mostly only one "person" involved in these transactions. The seller is 40% of the time a Bank. Usually , the buyer is also selling a home and that would double the NAR's total volume numbers. The kicker is that there will be even more REO's coming on the market in 2009 and there will be more one sided trades for the foreseeable future. One sided trades do not allow for appreciation or gains.
"They fully expect to see Wright-Patterson gutted by the new administration. "
What will they do with the aliens in formaldehyde?
Why exactly did Thain bother to do this interview? Dick Fuld must be loving this, and, in fairness, Thain really does seem worse, not that the bar was set particularly high.
US commercial property sales to fall more..
U.S. commercial property sales to fall more, report finds
| Reuters
From the same article:
*CMBS issuance plummeted 95 percent in 2008 to $12.1 billion. There has been no CMBS issuance since June.
*Over the past few months, the commercial real estate industry has seen a standoff between would-be sellers who refuse to capitulate to values that are about 30 percent or more lower than they were from their highs in early 2007 and prospective buyers who will not pay prices they believe are too high, the report said.
I'm just wondering. Are the 70 thousand job layoffs today inflationary or deflationary? I'm a bit confused.
"Wow he is a weirdo. What a defense for the $88'000 carpet."
Yes, but can your carpet fly!
"They fully expect to see Wright-Patterson gutted by the new administration. "
What will they do with the aliens in formaldehyde?
Pavel Chichikov | 01.26.09 - 4:52 pm | #
Tequila, Pavel. Tequila.
Here is the link to the latest version of "Earnings Trends" next issue should be up on Thursday.
Financials' Losses Grow Seven Fold
"...the commercial real estate industry has seen a standoff between would-be sellers who refuse to capitulate to values that are about 30 percent or more lower than they were from their highs in early 2007 and prospective buyers who will not pay prices they believe are too high, the report said."
OK, let's see how long the sellers can hold out. Prospective buyers have all the time in the world.
Seller capitulation is inevitable. The only question is: will there be any interested buyers left when the sellers get around to facing the furnace?
"Tequila, Pavel. Tequila. "
Oh, the worms in the bottle.
I thought Joseph Stiglitz' commentary for CNN was clear and sensible.
"NAR" will revise away the so called "sales" increase next month. It is a done deal and classic manipulation.
The only reason they put out what they did was to increase the eschrow accounts in Foreclosures that got slowed due to the Holidays.
If I remember correctly, Wilmington was very pretty and not too large, at a crossroads with a little college. Folks in town will do as well as all the other county seat towns in Ohio.
Folks with Nascar-themed McMansions on one acre lots out in the township may have reason to be concerned, though, if they are not prepared to live off the land.
"Wow he is a weirdo. What a defense for the $88'000 carpet."
I didn't hear it. Was it something like: "It was the best weave and material to hold piles of cash and negotiable monetary instruments for me to roll around naked on"?
Cuz that reasoning I'd believe.
From a relitter's email:
Advice #5
Upsizing: If you sell your smaller property ($300k) and lose 10% ($30k) and buy your next home for $400k (10%=$40k), you stand to be in a better financial position.
Uhhh, if they closed [DHL] wouldn't that alone turn the town into a retirement community?
Rob Dawg | Homepage | 01.26.09 - 4:25 pm | #
They did, and Wilmington is not too far from Dayton, where the local GM plant (actually Moranie, a close in burb) is shutting down, and along with it lots of supplier business. Dayton is absolutely devistated, only thing left in the area is the Air Force and NCR. Somehow with all the banker troubles, NCR's ATM business does not look like a growth engine.
IT, please tell us you are making that up.
Interesting Times writes:
"From a relitter's email:
Advice #5
Upsizing:..."
Translation: Keep digging, you chump. I need to make the payments on my properties.
New Thread: Amex: "Harshest operating environment in decades" ( 0 comments ...You could be FIRST! )
I also post comments to an irc channel as they appear on haloscan. Click for a web irc interface: Mibbit IRC client widget (Or join the irc server directly: irc.realize.org:9996 #calculatedrisk)
What others have said about CRBot:
Gary writes: This CRbot is pretty nifty.
EvilHenryPaulson writes: CRBot is great on mobiles
Loudocracy writes:
Thank god CRbot spared me from that dead thread.
Hoopajoops writes: Posting a test message from the IRC Channel... THIS THING ROCKS
CRBot: Killing dead threads deader since last week.
If that is the case, then maybe spending 1.2M to remodel isn't such a bad idea.
Ponyless in NJ | 01.26.09 - 4:44 pm | #
Even so, Sauder makes some very nice RTA office furniture, and I'm sure there is an Ikea somewhere withing driving distance. $3000 should more than do the trick.
When can all of the people in the rest of the country rip off the USA like the people in CA?
Geeze, talk about not seeing the forest for the trees.
People wouldn't be stuck in their houses if lenders didn't focus on the loan-to-value ratio but looked at the loan-to-income ratio instead.
Suppose a homeowner has a $400,000 mortgage on a $300,000 house and decides to sell and move to a $200,000 house. After this transaction (ignoring sales commission) the homeowner will still be $100,000 underwater, but they'll have a $300,000 mortgage rather than a $400,000 mortgage, which seems better to me.
It is a mistake to focus on the loan-to-value ratio. The $400,000 mortgage has a lower loan-to-value ratio, but the $300,000 mortgage is much more affordable. There should be a government program to fix the non-recourse issue which causes lenders to worry about house prices. If mortgage holders didn't have to worry about walk-aways, they could allow people to move to more-affordable houses while they are underwater.
When can all of the people in the rest of the country rip off the USA like the people in CA?
Anonymous | 01.26.09 - 5:15 pm | #
22 of the last 23 years California sent more to the other 49 than they got. Is it any surprise that running a deficit for a generation becomes a problem? Tell ya what. Zero out the accumulated funding imbalance, call it even and let us go our own way. What? The other 49 cannot afford to write a check that large? Fine, then we ar all in this together. Sit down, shut up, hang on and get ready to write a check.
Rob Dawg: Link?
OT- Any sign of Jas since the mention in the New Yorker last week?
Definitely not "the real estate ladder" - what is this, a step stool?
Sunken living room?
In all seriousness be careful out there. My house was robbed this weekend. Luckily we were not home and our dog is fine. I am also grateful I have not been keeping physical bullion at home.
Thief took all the jewelry and any cash they could find. The house looked like a spy movie where the bad guys threw everything on the ground looking into every cabinet and tossing stuff out of drawers to find what they wanted.
Here is what I learned from the experience:
I'd type out where I now think the best places to hide things are, but of course, every burglar is different. Also, maybe they read this blog! HAHA!
Up until now the bad economy had only affected my mind. This is a reminder that things are indeed as bad out there as the graphs make them out to be. I look around here in SoCal at the people shopping, dining out, and driving their fancy cars and wonder which of them had to resort to stealing from me to sustain their lifestyle.
I admit that it is easy to look around here and believe the veneer of prosperity I see around me is real. Recent events suggest otherwise...
"My house was robbed this weekend"
Do you have an alarm system?
Our alarm went off once when we were not home, because we had left a door loosely secured and a draft blew it open. The DC police, so we heard, were there pretty damn quickly.
Back in 2005 we called it "under house arrest."
Rob Dawg | Homepage | 01.26.09 - 3:57 pm | #
In the early '90s, it was called NEBBies, or Negative Equity Baby Boomers.
It is a rental house without an alarm. Although we do have a 50lb black dog who apparently will befriend everyone she meets...HAHA!
Especially if you want somebody to see something they really don't want to see.
ac | 01.26.09 - 4:15 pm | #
Have you been misunderdirected to the goatse site?
"Although we do have a 50lb black dog who apparently will befriend everyone she meets.."
It's true of most dogs, even breeds reputed to be aggressive.
Stretch
Sorry to hear about being robbed.
Not to make light of what happened but the only thing I found humerous was the feed the dogs part.
I am a country boy and they can't bring enough food to feed all my mutts.
I thought I would have a gun, of course if they are in my house they now have a lot more guns than I have.
Don't spend much time in urban areas, but I was at the Fort Worth Stock Show this week. You could not tell the economy has slowed at all from the activity around there.
Stayed with a college buddy that is a muckidy muck with Merle, or was. He got a big bonus before his department was dissolved. He had no idea why he got it. Go figger.
a job qualification - or at least "corruptible".
Speed | 01.26.09 - 3:47 pm | #
It's called OJT, not that I think he wil need it.
LawyerLiz,
The FDIC has insured trusts within standard limits (was 100k, now 250K) as long as I can remember. Are you saying that the coverage has changed?
Stretch002,
thanks for the headsup...glad you and your dog are ok.
I like your comment CR. I think it is right on here. I come to your site because you have those charts which dispel the NAR propaganda about how low home sales are because they use bubble records and don't go back before about 1999. Looking at the charts, anyone can see that the record prior to the bubble was 4 million units and the low was 2 million units. I believe anything over 4 million is a bubble level and we haven't left bubblesville yet. There is extreme speculation going on here in the DFW area and I have recently looked at the Shiller indexes. DFW is 118 basis 100 for 2000. This area was in a massive income boom that closely rivaled Silicon Valley and the bubble burst here in 2000. We are going below the 2000 prices I believe. The next bust is going to be the speculators that stepped in to catch the falling knives in various areas. I called to check the rental history of a prospect today and talked to a guy that is running a nationwide outfit that has bought hundreds of homes in Florida and Las Vegas. I was here for the 1980's meltdown and contrary to popular belief, this thing hasn't even gotten ugly yet.