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Wells Fargo CEO Bullish on Housing


By Mark D   Follow   Mon, 26 Nov 2012, 6:18am PST   538 views   5 comments
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Wells Fargo CEO John Stumpf says he believes that while the housing market is bouncing back, there are policies that can ensure recovery.

http://money.cnn.com/video/magazines/fortune/2012/11/26/ldrshp-wells-fargo-1.fortune/

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bmwman91   Mon, 26 Nov 2012, 6:30am PST   Share   Quote   Permalink   Like   Dislike     Comment 1

Considering that WF and the rest of the finance industry have the government's balls in their possession, I'd be bullish too. There are no practical obstacles to the next asset bubble cycle, and this one will be deliberately manufactured via policy decisions, whereas the last one was made by the banking industry and the government was just too incompetent to do anything about it. I think that Mr. Stumpf is just saying this to twist the knife that has been stuck in the market bulls' sides.

Some RE analyst was quoted as saying that we are entering what will be the biggest RE boom ever seen. I think that they were probably right. This one will be deliberately created by government policy with the goal of blowing a massive bubble. The fallout will also be unprecedented, but that is probably a decade out. Our government always wins gold at the Olympic Can Kicking events!

RentingForHalfTheCost   Mon, 26 Nov 2012, 7:31am PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 2

Housing is on fire. Multiple bids! Sale prices way higher than asking! Buy now. Don't wait, or you will be sorry...

You don't believe me, just check out these listings.

DOM: 98, priced just reduced by 30K
http://www.redfin.com/CA/Pleasanton/500-Pine-Hill-Ln-94566/home/870366

DOM: 54, priced just reduced by 21K
http://www.redfin.com/CA/Pleasanton/3834-Orion-Ct-94566/home/1185620

DOM: 60, priced just reduced by 20K
http://www.redfin.com/CA/Pleasanton/419-Mavis-Dr-94566/home/1396130

See, if you bought these houses already, you would be so much better off than now! What are you waiting for? Jump sucker, jump!

Robber Baron Elite Scum   Mon, 26 Nov 2012, 7:38am PST   Share   Quote   Permalink   Like (2)   Dislike     Comment 3

Good for that chump.

I'm bullish on cannibal anarchy and financial ass-rape of America.

I can't wait for Chase Manhattan Bank (which I used to be a Former Chairman & CEO of) to buy off Wells Fargo.

Chase Manhattan Bank & J.P. Morgan is mainly owned by us Rockefellers.

rooemoore   Mon, 26 Nov 2012, 8:26am PST   Share   Quote   Permalink   Like   Dislike     Comment 4

RentingForHalfTheCost says

See, if you bought these houses already, you would be so much better off than now! What are you waiting for? Jump sucker, jump!

The overpriced turkeys wont even move on Thanksgiving. I did a quick look and saw that there have been a lot of recent sales in Pleasanton.

http://www.redfin.com/CA/Pleasanton/2308-Via-Espada-94566/home/1198727

http://www.redfin.com/CA/Pleasanton/5680-Stonecliff-Vista-Ln-94566/home/1739977

http://www.redfin.com/CA/Pleasanton/4240-Garibaldi-Pl-94566/home/1490314

Over a hundred and fifty sales in Pleasanton in the past 90 days. But yeah, crappy, over-priced joints like the ones you posted wont move anytime soon.

Mark D   Mon, 26 Nov 2012, 10:48am PST   Share   Quote   Permalink   Like   Dislike     Comment 5

RentingForHalfTheCost says

You don't believe me, just check out these listings.

Pleasanton Home Prices and Home Values

Zillow Home Value Index

$ 693,000
+10.3 %Y-o-Y

http://www.zillow.com/local-info/CA-Pleasanton-home-value/r_47164/

looks like you missed the boat :)

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