Wells Fargo CEO Bullish on Housing


By Mark D   Follow   Mon, 26 Nov 2012, 2:18pm   439 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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  1. bmwman91


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

    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


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

    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


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    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


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    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


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    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 :)

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