Patrick.net

Wells Fargo CEO Bullish on Housing

By Mark D   Follow   Mon, 26 Nov 2012, 2:18pm   408 views   5 comments
Watch (1)   Share   Quote   Permalink   Like   Dislike  

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/

Viewing Comments 1-5 of 5     Last »     See most liked comments

1. bmwman91 Follow Befriend (8) 38 threads 1,606 comments Mountain View, CA bmwman91's website Premium

   1   2:30pm Mon 26 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   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!

2. RentingForHalfTheCost Follow Befriend (8) 40 threads 2,062 comments Pleasanton, CA Premium

   2   3:31pm Mon 26 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   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!

3. Robber Baron Elite Scum Follow Befriend (3) 55 threads 521 comments Roslyn, NY

   3   3:38pm Mon 26 Nov 2012   Share   Quote   Permalink   Like (2)   Dislike   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.

4. rooemoore Follow Befriend 41 threads 917 comments Larkspur, CA

   4   4:26pm Mon 26 Nov 2012   Share   Quote   Permalink   Like   Dislike   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.

5. Mark D Follow Befriend 66 threads 538 comments Simi Valley, CA

   5   6:48pm Mon 26 Nov 2012   Share   Quote   Permalink   Like   Dislike   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 :)