patrick.net

-Greenspan will rot in hell for this.
+Greedspan SHOULD rot in hell for this.

Robert Kiyosaki on RE, again.
http://finance.yahoo.com/columnist/article/richricher/5766

He claims he had foreseen this. I claim hindsight is 20/20.

kiyosaki knows everything about property. after all, he's the self-proclaimed 'property guy'. the property guy. he once bought something in phoenix, which is now tanking...

is guy kawosaki the anti-kiyosaki?

john t. reed, a california native (yay), has a page on tom vu, and another page on kiyosaki... www.johntreed.com/Reedgururating.html

"Eat your...house!"

--Surfer-X

"Eat your...realtor!"

--Michael Holliday

"Eat your...Kiyosaki!"

--Anony-mouse :o~~

VA Beyatch,
At least people can actually still buy in VA. here in Cali, there isn't enough money in the avg citizen's pocket to buy what you in VA would call a "small house".

I only offer the "yurt" as a temporary structure and felt they should have a broader appeal b/c every fire season we have to hear about about someone that built exactly where they were told they shouldn't build! If "they" don't get here soon and protect our 4,800 sq. ft. home (that we live in 3 weeks out of the year) we'll lose EVERYTHING!

A temp. structure could be disassembled, hauled off and set back up later. If you look at the way so many of the "Brit's" vacation it just makes so much more sense. I saw a special on their beach huts in Brighton (or some where) and they are like 12 X 20 sheds on the beach that they own/rent or borrow to spend a week at the beach. When it's time to head back to town they swing the barn doors closed and slap a pad lock on it. Thefts are rare b/c there is usually only a tea kettle some deck chairs and a dinghy w/ oars in it. This is a "proper" vacation.

SFWoman,

I'll have to admit to being stumped on Kirsten Dunst's appeal as well. And it's not just her looks. It's the total and complete lack of anything resembling....... uh, talent? Robin Williams (during an interview) seemed to be at a loss for words as to how a 19 year old was "directing" movies after only having been in a few herself? The rise in popularity of talent "reality shows" has forced Hollywood to embrace them quickly b/c the traditional channels for "discovering talent" (having Hollywood parents) simply was not working.

We have plaster walls in the city, and one of the rooms seems to be some sort of fortress against WiFi. Is it something in the plaster?

lead paint?

A buddy of mine does this hilarious schtick about:

Who-lee-uh Row-bertz (Julia Roberts)

Cam-eroon Dee-ahs (Cameron Diaz)

My favorite is his impersonation of that gal "Lizzie" is it on Long Island that ran over all of those people at a night club? Lizzie Grubman? Now there's a "catch"!

SFwoman,
Plaster is actually a somewhat decent semi-conductor of electricity. It also can cause interference. In the old days, electricians would actually run wires inside the plaster- which was bad because the plaster is caustic and will eat right through the insulation, eventually causing a fire hazard.

SFWoman,

To my knowledge they didn't even mention having a bathroom in those "chalets" so I can't imagine that they are that comfortable to begin with! I'm also not so sure how much running around in swim trunks I would be doing in 59 degrees either. But it does appear care free and maint. free so in my mind that cuts to the core of what a vacation is supposed to be about. If the cafeteria has reasonably cold Guiness so much the better. I've heard a lot of my retired clients say that after a few years of travel all "resorts" start to look the same. On the dole or not, I hope the holiday camp continues.

I guess what I mean to say is what fun would travel be if everyone in Rio decided that they could stay home and watch the "festival" on TV?

I confess that I do find Kirsten Dunst attractive, or I would find her attractive if I were not married to the most beautiful woman in the world.

The key to her appeal is that she is a slightly promiscuous version of the girl next door. Accessible. Approcahable. When you watch one of her movies, you can sort of mentally substitue that girl in your Geometry class for Kirsten Dunst. She is also somewhat charismatic. To get her appeal, think of yourself as a sex-starved young guy. In the back of your mind, you know that you're not likely to encounter Jenna Jameson. You never even see women like that in real life. And even if you should happen to run into one, what are the odds that you can talk her into sleeping with you? If she moved in next door maybe you could do it, but if you encounter her while standing in line at Baja Fresh? Not going to happen.

But Kirsten Dunst -- there are women like that in real life. The odds of sleeping with her seem much better. She's sort of like that girl in your Geometry class that you're always thinking about. Now, you've never actually mustered up the courage to ask her on a date, but if you do, the odds that you'll no longer be a virgin seem pretty good as far as you are concerend.

Jennifer Aniston is sort of an adult version of Kirsten Dunst. You're in your early to mid 20's now, you'd be a pervet if you were still fantasizing about sixteen year old cheerleaders, but Jennifer Aniston is like that girl behind the counter at Starbuck's who smiles at you ever morning and occqasionaly gives you an extra shot of espresso. The truth is that she smiles at everyone and has a steady boyfriend, but you don't know that becuase you've never actually tried to chat her up, though you did make a remark about the weather the other day, and she grinned and agreed with your observation! Can yourself living with her, just like those guys who live with Jennifer Aniston? Yes. Yes, you can!

Hanging out with unemployed people can be a problem. A real problem! They (unlike you) have no where to go in the morning! They can stay for last call and then "move the party to the parking lot" when you SHOULD be sleeping it off! Is Brighton high on my list of "must see" places? No, not really but just knowing it's there seems to help. I had heard though that the old pier was taken down for safety reasons.

I would however place a high priority on seeing the upper reaches of the Amazon River and had planned on visiting the "outback" again but not after renting Wolf Creek. Egad!

Joe Schmoe,

"slightly promiscuous"

Uh, how does one become "slightly promiscuous"? Sounds to me like being "a little bit pregnant" no? Just kidding. My big question with her (and many others) is how did she have such a meteoric rise in wealth and fame with such mediocre talents? To answer my own question I believe much of Hollywood "wealth" is nothing more than total fabrication. Hard ball industry execs that have survived a string of bombs seem unlikely to me to part with hard earned money to give it to a 19 year old but that's just me. H'wood had been in a terrible slump until March of the Penguins came along to bail it out. There are so many instances where some of H'wood's most enduring series' "stars" are selling tee shirts out of the back of a van 6 months after their show gets cancelled! So and so just put their 9.4 mil Bel Air estate on the market! "Their" estate? Really?

SFWoman,

Well exactly. My wife and daughters are always on me about this starlet and that and which one do I find the most attractive! It's maddening really (like I would ever answer honestly anyway). My standard response is that she's no prettier than the other 10 girls waiting in the bus line! I mean it! When I hear that she (or he) is being paid X millions of dollars per picture it just makes me want to laugh! H'Wood makes real sure we all read about how much their "stable of talent" is getting paid but when they wind up in re-hab or divirce court we find that the numbers are vastly different than just a few years prior. Where did all the money go we're left to wonder? Well Malibu "digs" and limos run into money so we get this quick and dirty accounting of why so and so had their home broken into and their "home video" stolen! Stolen?

SFWoman said:

> Would someone explain the ‘beautiful Kirsten
> Dunst’ to me?

She is popular since she reminds people of the hottest girl in the trailer park (aka the hot white trash look)...

DinOR,

That is a very interesting observation.

An exception to that rule of thumb is the the rappers. Those guys really are 100% self-made. We represent several of them. I always used to think that they would be even more unbalanced versions of rockers or professional athletes, always drunk or high, etc. Not true.

All of the rappers I have met have been shared the same trait: they are very smart. Those guys may act like crude thugs in videos, but they are all extremely intelligent. With them, it is all business, all the time. They are constantly marketing themselves and looking to build their careers. I have never dealth with a rapper's agent or manager; they might attend a meeting, but the star is there too and personally makes all the decisions. And a rapper's agent or manager generally has good advice and functions in a support role; he doesn't run the show.

I think it is becuase almost all rappers are self-made. They start out as poor teenaged boys living in the ghetto. They don't know anyone at Warner Brothers, industry, and they don't have an uncle who is going to give them a record deal, put them on TV, and send them on tour. The rappers have to build their careers from the ground up. They have to record their own mix tapes and fill the clubs themselves. Only then will they get a record deal with one of the major labels. It is very rare for a rapper to be packaged and marketed, they generally achieve success on their own.

About half of your country acts come up this way too. That is why they can endure for 20 years or more, becuase they have a real fan base with real fans. The other half are the product of marketing.

Different Sean Says:

> Kiyosaki knows everything about property.
> after all, he’s the self-proclaimed ‘property guy’.
> the property guy. he once bought something in
> Phoenix, which is now tanking…

As much as it’s fun to rip on Kiyosaki most of what he says is right on target just a little basic and written in fifth grade English down for a mass market.

> John T. Reed, a California native (yay), has a page on Tom Vu,
> and another page on Kiyosaki…
> www.johntreed.com/Reedgururating.html

John Reed is a super smart guy (I have every one of his self published books) and most of the pot shots he takes at Kiyosaki are about his financial history and military service not what he actually says.

I’ve often thought about writing a book called “Rich Dad, Richer Dad”. I’ve learned a lot from my Dad and John Reed who are both very rich, but I’ve learned even more from a good friend’s Dad (a HBS guy) who is even richer…

She is popular since she reminds people of the hottest girl in the trailer park (aka the hot white trash look)…

So we are now talking about dream human architecture? :)

OT, but I am rarely on topic anyways.

For RE market in BA, May might have turned out to be slightly better than April, at least for the areas I track. If this is a general trend, I expect CAR to tout these MOM gains. YOY picture is still clearly on the downtrend.

Nothing surprising here. The downward path is rarely a straight line.

Joe Schmoe,

"have a real fan base with real fans"

Brilliant! What a concept! True, I don't care for rap music but if these guys are self made hey, whatever right! So much of the "talent" we see in videos, movies etc. are strictly the product of marketing. I'm sure I'm not the only guy that got tired of hearing the recording/movie industry whine for years about how illegal downloading killing their bottom line! Try putting out something actually worth paying for! Which should give all of us cause to question how industries with declining sales, declining revenues and declining stock prices can continue to dole out free money to "manufactured" stars with no real fan base and no real fans!

For RE market in BA, May might have turned out to be slightly better than April, at least for the areas I track.

Which areas?

Those I track range from tepid (e.g. North San Jose) to red hot (e.g. Mountain View).

George,

I just couldn't read all of it. Sorry. Truly a dark day for Harvard.

Re: Harvard's "The State of the Nation's Housing" report...

(*Ahem*) Let's have a look at who's on Harvard's Joint Center for Housing Studies Policy Advisory Board (their list of financial backers/sponsors):

http://www.jchs.harvard.edu/people/pabmemberlist.html
"Members of the Policy Advisory Board are valued not only for their financial support, but also for their leadership and commitment to strengthening future housing research and for their participation in guiding and providing feedback on the Center's ongoing research.

Policy Advisory Board- Member Companies
--------------------------------------------------
Andersen Windows
Armstrong Holdings, Inc.
Beazer Homes USA
Black & Decker
Boral Industries
The Bozzuto Group
Bradco Supply Corporation
Builders FirstSource
Building Materials Holding Corporation
Canfor Corporation
Cendant Corporation
Centex Corporation
CertainTeed Corporation
Champion Enterprises
Countrywide Financial Corporation
Crosswinds Communities
Fannie Mae
Fannie Mae Foundation
Federal Home Loan Bank of Boston
Fortune Brands - Home and Hardware
Freddie Mac
GAF Materials Corporation
Georgia-Pacific Corporation
Hanley Wood, LLC
Hearthstone
Home Depot
HomeStore, Inc
Hovnanian Enterprises
Huttig Building Products
James Hardie Industries NV
Jeld-Wen
Johns Manville Corporation
KB Home
Kimball Hill Homes
Kohler Company
Lafarge North America
Lanoga Corporation
Lennar Corporation
Louisiana-Pacific Corporation
Marvin Windows and Doors
Masco Corporation
Masonite International Corporation
McGraw-Hill Construction
MI Windows and Doors, Inc.
National Gypsum Company
Oldcastle Building Products, Inc.
Owens Corning
Pacific Coast Building Products
Pella Corporation
Pulte Homes
Reed Business Information
Rinker Materials
The Ryland Group
S&B Industrial Materials S.A.
The Sherwin-Williams Company
Stock Building Supply
The Strober Organization
Temple-Inland
UBS Investment Bank
Weyerhaeuser
Whirlpool Corporation

"No conflict of interest to see here, people. Move along now..."

As Deepthroat said, "follow the money."

Truly a dark day for Harvard.

The darkest day for Harvard was the day Bill Gates left.

HARM,

That is truly pathetic. A veritable who's who in building/real estate. Just as with the "down payment assistance program" these guys have figured out a way to have their cake and eat too! I'm sure if you checked their books these contributors have listed their "donations" as tax deductible as well. Great........

George Says:

“Nothing like being bought and paid for!”

All the big schools are letting people spoon feed them information and publish studies with their names if they get paid enough. Cal recently put out a joke study that was bought and paid for by the big unions...

I want to buy and pay for Kiyosaki to lecture on something dumb, like
collecting Beanie Babies...Just to see him whoring himself out for a buck.

Yeah, that's it. Instead of a Pampered Chef party, you could film a Chef's in Pampers party starring Kiyosaki as the late-night info-mercial con man pimping the flavor of the week, be it housing, Beanie Babies, or...god forbid, Chefs in Pampers parties...Yikes!

FAB,

All I can say is, Wow! It also skirts a lot of disclosure issues as George pointed out a little earlier.

I noticed over on C/L for Las Vegas that REMAX is offering "No Payments for a Year" along with a 50" Sony TV AND $3,500 gift card to the store of your choosing! Need help w/those closing costs? No problem! The ads are just blaring out BUY ME to the point that as a......... potential buyer (someday) it's just confusing.

I don't believe for a minute that anyone here (and few elsewhere) are going to be swayed into a lifetime of indentured servitude by a 50" TV. This may actually even queer with Joe Howmuchamonth.

Had I wanted I could have discreetly written all of this down and taken over his identity.

Why would you want to take over the identity of a McDebtor?

CNN's top Business section article:
http://money.cnn.com/2006/06/13/real_estate/Harvard_study_housing_slow_growth/index.htm?cnn=yes

My comments to some of their nonsense follows:

"Graying boomers. As boomers have aged and prospered, they have begun to buy vacation or second homes in increasing numbers. This trend will widen as they near retirement."

I thought boomers were totally ill-prepared for retirement ... now they're buying more homes? So which is it?

"Fewer adult children live with their parents; they establish their own homes."

Absolutely, categorically false.

"Minority gains. Ownership among formerly under-represented minorities has increased. Black and Latin home ownership has always trailed that of whites but the past 10 years has seen minorities making great progress."

Harvard always has to do a little race-baiting, further reducing their credibility. Furthermore, luring minorities into death-or-glory loans at the height of a housing bubble isn't what I'd call "progress".

"The Harvard researchers downplay the risk in mortgages with adjustable rates and easy downpayment requirements."

To that I ask: Who funded this study?

"As Lawrence Yun, managing director of quantitative research for the National Association of Realtors, points out, in general, places with expensive housing are often the hardest places to build."

And no study would be complete without quoting an "expert" who works for the NAR.

Red Whine,

Uh the reason boomers are "ill prepared" for retirement is b/c they ran out and bought so many damn houses!

If people generally take the path of least resistance in life, it goes double for their finances! (Typically). Why would boomer invest more into the stock market (where he just took a sound ass whoopin') when he can buy second homes that only ever go up in value?

Besides, the points that you highlight sound to me more like reasons as to how we wound up in a bubble to begin with (not salvation from it's demise).

Peter P,

Why would you want to take over the identity of a McDebtor?

Normally, taking someone's ID and buying a hummer might raise a few red flags. But with a McDebtor, it's almost expected.

Jon Says:

> My main gripe is his posturing. He (Kiyosaki) has this attitude of
> “Your problem is you just don’t think like a rich guy”.

Most people on this list probably don’t talk to poor people about money issues on a regular basis. I’ve been doing it for over 30 years when people don’t pay their rent on time. I can say that the number one problem in America is that people are stupid and don’t think like rich guys or real rich guys…

We can all beat up on Kiyosaki since his advice is not perfect, but it will help to move people in the right direction.

My Grandfather (a poor guy) told my Dad to graduate from High School and get a good safe stable Union job.

My Dad (a rich guy) told me to graduate from college and buy apartments and manage them myself.

My good friends Dad (a real rich guy) told me to go to a top school and get a bachelors degree and then explained that if I was going to go to grad school I should bust my ass and score high on the GMATs to get in to a top 5 school. He then told me that I need to decide if I am better at either managing people or deploying capital and to focus on one area (very few people are good at/or have the time to do both)…

The bottom line thing I was left with after reading Kiyosaki’s first book was that you need to save some of your income so you can buy income producing assets (cash in the bank is a good start at building a portfolio of income producing assets) that will give you more income. If we could get poor people to understand this simple fact we would have a lot less poor people…

How does one guarantee a house for 1 year after the sale? Can the buyer give the house back and walk away?

I do not trust any personal guarantee.

The warranty works on older or newer homes. and probably, they will not warranty a home for things that are problems disclosed or revealed in the home inspection.

And there is no house price warranty. If the bubble does not work anymore you are on your own.