patrick.net

Realtors Are Clowns says

Bigsby says

Same old, same old. Apparently anyone who disagrees with you is a liar and yet it's you who never offers any evidence and keeps changing the name they post under. You are a WUM. Nothing more.

Same old, same old. Apparently anyone who calls you out on your lies is a WUM. Nothing more.

Prices are falling.

I rest my case.

Realtors Are Clowns says

Bigsby says

I misrepresent the truth about housing to the public

We know.

So you write other people's posts for them know, do you? That's very sad, but oh-so predictable for you.

Where's all this data coming from? 50,000,000 homes sold in 2009? Mostly bought by investors?

I feel like I'm taking crazy pills.

Realtors Are Clowns says

Bigsby says

Realtors Are Clowns says

Bigsby says

I misrepresent the truth about housing to the public

We know.

So you write other people's posts for them know, do you? That's very sad, but oh-so predictable for you.

So you misrepresent the truth about housing, do you? That's very typical and predictable for used house pimps.

You know if you want people to take anything you say seriously (which I presume you don't), then an original thought would help rather than parroting responses. As you're no doubt in your parents' basement right now, just shout up the stairs to them for some help.

Daaaaaa Bullsss.

Daaaaaa Bearsss.

The prices in Los Angeles and Orange counties can still be summed up in one word - RIDICULOUS!

I have seen homes in VERY middle class neighborhoods, we're talking about Downey and Cerritos here, not exactly upscale or ritzy, just plain and average - asking prices for SFRs are half a million or more for a 40-50 yr old home less than 2000sqft, sheer INSANITY!

Realtors Are Clowns says

Bigsby says

You know, if you want people to take anything you say seriously (which I presume you don't), then an original thought would help rather than parroting responses. As you're no doubt in your parent's basement right now, just shout up the stairs to them for some help.

You know, if you realtards want people to take anything you say seriously, stop lying to the public about housing.

I do believe we've already had this discussion before. Obviously you are incapable of retaining information.

Realtors Are Clowns says

I do believe we already had this discussion before. Obviously you reat-liars are incapable of being truthful with the public.

Why is that?

What's a reat-liar?

Where are you getting 5,000,000?

According to the NAR, one of your own sources, there were 2,000,000 new homes sold from the beginning of the credit to the end of September.

Did 3,000,000 new homes get sold after September until December?

http://articles.businessinsider.com/2009-09-23/wall_street/30061415_1_credit-for-first-time-tax-credit-homebuyers

The $8,000 tax credit for first time homebuyers, enacted this year when Congress passed the $800 billion stimulus program, was meant to spur higher prices and new buying. But according to an estimate by the National Association of Realtors, of the 2 million new homebuyers since the credit was instituted, just 350,000 say they would not have bought a house without the tax break.

Read more: http://articles.businessinsider.com/2009-09-23/wall_street/30061415_1_credit-for-first-time-tax-credit-homebuyers#ixzz1urul8wF8

toothfairy says

all the remaining bears seem to have been herded into this forum if we can now just lock the gate and send them floating off to sea.

remaining? Seems to be more and more of us each year. I love that there are still bulls because that means more and more people buying today to be part of the underwater group tomorrow. In the end it will just mean a deeper and more intense overshoot of the mean housing price. I wouldn't want to lock up the bulls, keep them coming. Fly them in from foreign lands, give them more leverage, bring back the no payment liar loans, lets get prices rising again with whatever means is possible. Cash is king baby, and the longer this game of bluffing goes on the better my full house looks. Oh yah! Down we go, if not today then tomorrow. ;)

RentingForHalfTheCost says

I love that there are still bulls because that means more and more people buying today to be part of the underwater group tomorrow. In the end it will just mean a deeper and more intense overshoot of the mean housing price.

My thoughts, exactly. Remember, the objective of the bubble is to suck in as many suckers as possible. Also, bubble bottoms don't look at all like what we have today, with multiple offers competing for stinking sh*t hole shacks, investors drooling all over themselves at the court-house steps, and calls for a bottom all over the media. Bottoms are very quiet events, with almost everyone convinced that prices will keep falling, and hardly any buyers. The fools who bought in 2009, 2010, 2011 & 2012 will all be foreclosing by then, and real estate will be a dirty word, once again. Does this look like a bottom to you today, where I hear new people are getting their real-estate licenses, and people talking about real-estate at dinner parties, as if the last 5 years of a crash was just one of those mere "corrections". No, not enough people have been burned enough by this crash, and the folklore of "easy money" made in RE, is still fresh on people's minds.

Bigsby says

Bulls? Who are these supposed bulls?

All the bulls don't know about patrick.net yet? They are on the streets and at dinner parties. When we see a true housing bottom, patrick will be on CNN & Fox News, and dunnross will be a household word!

dunnross says

All the bulls don't know about patrick.net yet? They are on the streets and at dinner parties. When we see a true housing bottom, patrick will be on CNN & Fox News, and dunnross will be a household word!

He's talking about on here.

dunnross says

Also, bubble bottoms don't look at all like what we have today, with multiple offers competing for stinking sh*t hole shacks, investors drooling all over themselves at the court-house steps, and calls for a bottom all over the media. Bottoms are very quiet events, with almost everyone convinced that prices will keep falling, and hardly any buyers. The fools who bought in 2009, 2010, 2011 & 2012 will all be foreclosing by then, and real estate will be a dirty word, once again. Does this look like a bottom to you today, where I hear new people are getting their real-estate licenses, and people talking about real-estate at dinner parties, as if the last 5 years of a crash was just one of those mere "corrections". No, not enough people have been burned enough by this crash, and the folklore of "easy money" made in RE, is still fresh on people's minds.

I totally agree. How can it be anything other than this? More pain needs to come.

Realtors Are Clowns says

Bigsby says

Realtors Are Clowns says

I do believe we already had this discussion before. Obviously you reat-liars are incapable of being truthful with the public.

Why is that?

What's a reat-liar?

YOu're a realt-liar? We already know that.

Is that the royal we? As you know so much about me, where do I live and work?

Bigsby says

dunnross says

All the bulls don't know about patrick.net yet? They are on the streets and at dinner parties. When we see a true housing bottom, patrick will be on CNN & Fox News, and dunnross will be a household word!

He's talking about on here.

There are a few on here, but I meant more in general. Like dunross said, all the fools rushing into the housing today thinking the storm is over. All I see on Patrick is Bears and Pigs. We all know what happens to Pigs. ;)

Show me all the $210,000 SFH in any of the following areas: Pleasant Hill, Walnut Creek, Danville, San Ramon, Dublin, all of the South Bay from Fremont to Campbell to Mountain View, or the Peninsula.

RentingForHalfTheCost says

There are a few on here, but I meant more in general. Like dunross said, all the fools rushing into the housing today thinking the storm is over. All I see on Patrick is Bears and Pigs. We all know what happens to Pigs. ;)

Are you referring to certain areas in CA or the US in general because there is very little foolishness involved in buying homes in very many areas of the US right now. And quite frankly, there's not much indication prices are going to drop substantially from here even in the BA. If you intend to live in your home long-term, then this looks like an OK time to buy. Nobody has a crystal ball, but if you like the house, can afford the monthly nut, and aren't planning to move in the foreseeable, then I don't see the problem. The perma-bears on here will of course disagree.

If Patrick is considering a REIT, I think the bottom is in. At least for some neighborhoods.

Even if the size of the shadow inventory in this article were correct, you have no idea what the result will be.

-banks could sell the homes in bulk to investors to rent out
-banks could sell the homes to investors to spiffy up and sell
-banks could continue to hold back the inventory
-banks unload all of the homes in a flood and collapse themselves and the entire economy likely causing most of us to lose our jobs

I'm sure there are other options out there, but I think these are the most likely. None are all that helpful to bears.

This shadow inventory talk reminds me of the Option ARM stuff people kept saying about 1-2 years ago as the main reason why the BA was in trouble. I guess when that argument was gone, someone had to come up with a new reason for a collapse.

We'll see. Maybe the shadow inventory will cause big price drops. I don't see it happening in desirable areas.

wthrfrk80 says

If Patrick is considering a REIT, I think the bottom is in. At least for some neighborhoods.

We keep forgetting about the 4 levels for parking. Still more to fall nationally I fear. This fake bottom is just a place for more people to jump on the elevator down. It is not about affordability to previous years. It is about who the hell can buy. Prices are emotional up and also emotional down. I'll wait until I see people crying in their yards to put my cash into the game.

tiny tina says

-banks could sell the homes to investors to spiffy up and sell
-banks could continue to hold back the inventory
-banks unload all of the homes in a flood and collapse themselves and the entire economy likely causing most of us to lose our jobs

You just described my investing strategy. Long Lowes and Home Depot, short banks. :)

Yeah Lowes closed 20 stores last year, and laid off about 2,000 workers.

But hey, housing is doing great.

So you're saying you couldn't find one?

I think the point has been proven.

There are retarded threads on Patrick.net, but this one is legendary.

Realtors are clowns debate style:

"Prices are falling!"

Goran_K says

Your logic only really applies to fringe cities where most people don't want to live because of commute times, low school scores, high crime, or a little of all of the above.

How do you know your shadow inventory isn't located in those same areas and not in good parts of the Bay Area?

Goran_K says

Your logic only really applies to fringe cities where most people don't want to live because of commute times, low school scores, high crime, or a little of all of the above.

check out recent sales in Piedmont. Most homes going quickly over asking.

http://www.sawbuck.com/sold/Bay_Area/94611/Piedmont/1728#zl_15/c_37.822645,-122.22975000000001

How do you know your shadow inventory isn't located in those same areas and not in good parts of the Bay Area?

Umm because there are websites that actually track the shadow inventory (quite accurately I might add), and they are not only located in Modesto or Stockton.

I'm not trying to obfuscate anything, but fine, let's continue down this road. Show me the cash flow positive SFHs in Danville.

So the only thing you have for me is a dinky condo in Walnut Creek?

What if I'm not in college, and want a yard? Find me something in all the cities I listed.

Call it Crazy says

shadow inventory is causing the "nice" houses to be bid up. The shadow houses have their mold problems, walls and doors kicked in by former owners or have been stripped of their internals

Yes. And then enough of these neglected "shadow" houses get run down enough to start making the entire neighborhood look like Sunday morning's walk of shame. Then the "nice" houses lose property value.

Goran_K says

Umm because there are websites that actually track the shadow inventory (quite accurately I might add), and they are not only located in Modesto or Stockton.

So, how do you know if they are tracking it accurately?? What is your basis for that statement?

Because all estimates for shadow inventory include some huge number to account for all the underwater homeowners. I think that's a pretty big stetch.

Philistine says

Yes. And then enough of these neglected "shadow" houses get run down enough to start making the entire neighborhood look like Sunday morning's walk of shame. Then the "nice" houses lose property value.

There are three in my neighborhood with the "Chase owns this property" tag on the garage doors.

Of course, none of them show up on the MLS.

Realtors Are Clowns says

Poor lying realtor. Still misrepresenting the truth about housing to the public. You unskilled creeps haven't learned a thing.

I'm looking forward to evicting you!

Realtors Are Clowns says

rowemoore says

Realtors Are Clowns says

Poor lying realtor. Still misrepresenting the truth about housing to the public. You unskilled creeps haven't learned a thing.

I'm looking forward to evicting you!

This isn't about me my lying realtor... it's all about you and your misrepresentations about housing.

Nice try though.

I'm not a realtor - sorry for the link showing that home sales are robust in Piedmont, CA. Not a lie. Perhaps people are stupid to buy right now, perhaps not. No one knows for sure.

One thing is certain -- you are a bitter person whom I'm assuming got royally screwed during the bubble. Me, I'm the prudent one who didn't buy the lies back then.

Or maybe you're just a clown pushing a giant R.

Realtors Are Clowns says

The truth is;

-Housing Demand is at 15 year lows and falling

-Housing Prices are Falling

Why are you liars telling the public to buy housing when prices are falling?

And this isn't about me you liar so don't make it about me.

If it is not about you, then why the fuck do you care? What, you think the 12 or so people that will read this will be enlightened by your wisdom?

Of course this is about you. You are a bitter clown.

Realtors Are Clowns says

WRONG again Realt-Liar.

Your lies are evident to everyone and we're going to keep exposing them.

Ok, PROVE you are not a bitter clown. And don't dodge the question. Prove it, or go away.

StopLyingRealtor

Realtors Are Clowns says

rowemoore says

Realtors Are Clowns says

WRONG again Realt-Liar.

Your lies are evident to everyone and we're going to keep exposing them.

Ok, PROVE you are not a bitter clown. And don't dodge the question. Prove it, or go away.

Ok, you've already proven you're a lying realtor. You don't have to answer the question. We've already proven it, now quit lying.

StopLyingRealtor says

StopLyingRealtor

Man, Patrick needs to employ a 1-user name-per-IP address limit!

Seriously, as an admitted housing bear, I think that the various folks that register on here under "Realtors are Liars" type names are pretty ridiculous. I assume that it is just one unemployed, bitter individual that likes coming in here to "spice things up" with silliness. It really does detract from the discussions.