Patrick.net

Housing Inventory Ghost Town

By tannenbaum   Follow   Tue, 27 Nov 2012, 11:01pm   8,083 views   196 comments
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http://loganmohtashami.com/2012/06/11/orange-county-ca-housing-inventory-ghost-town/

This post, somewhat ironically coming from a loan officer in Orange County, CA, is several months old, but remains equally relevant today and succinctly explains the completely dysfunctional real estate market of 2012.

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1. yup1 Follow Befriend 10 threads 379 comments

   77   12:09pm Sat 1 Dec 2012   Share   Quote   Permalink   Like   Dislike   I am betting you would change your toon if you got deleted. Funny a liberal fighting for censorship.

2. iwog Follow Befriend (48) 274 threads 12,559 comments 47 male Lafayette, CA Premium

   78   12:11pm Sat 1 Dec 2012   Share   Quote   Permalink   Like   Dislike   Protected   yup1 says I am betting you would change your toon if you got deleted. Funny a liberal fighting for censorship. I'm not going to get deleted because I'm not a forum destroying prick. I'll defend free speech and the constitution to the death if necessary however your understanding of what constitutes free speech is bullcrap.

3. yup1 Follow Befriend 10 threads 379 comments

   79   12:12pm Sat 1 Dec 2012   Share   Quote   Permalink   Like   Dislike   iwog says yup1 says You are the one responding and saying censorship is ok with you. Absolutely correct. Sorry I just noticed you are a premium member. Now I understand your point of view. Pathetic.

4. iwog Follow Befriend (48) 274 threads 12,559 comments 47 male Lafayette, CA Premium

   80   12:13pm Sat 1 Dec 2012   Share   Quote   Permalink   Like   Dislike   Protected   yup1 says Sorry I just noticed you are a premium member. Now I understand your point of view. Pathetic. I'm glad I could help with your understanding and your therapy.

5. yup1 Follow Befriend 10 threads 379 comments

   81   12:17pm Sat 1 Dec 2012   Share   Quote   Permalink   Like (1)   Dislike (2)   iwog says I'm not going to get deleted because I'm not a forum destroying prick. I'll defend free speech and the constitution to the death if necessary however your understanding of what constitutes free speech is bullcrap. Many would argue that you are a forum destroying prick. You wont get deleted because you pay, let's be real. I understand free speech just fine and I understand why a paying member here would want to limit mine. I also understand that this forum is technically private, but on a very public internet. The spirit of free speech should be practiced on this forum. Why allow any user to supress the speech of another, when they have the ability to block communications with any user that they want to block.

6. yup1 Follow Befriend 10 threads 379 comments

   82   12:28pm Sat 1 Dec 2012   Share   Quote   Permalink   Like   Dislike   Free Speech 1 Duckface 0

7. iwog Follow Befriend (48) 274 threads 12,559 comments 47 male Lafayette, CA Premium

   83   12:28pm Sat 1 Dec 2012   Share   Quote   Permalink   Like (3)   Dislike   Protected   yup1 says Many would argue that you are a forum destroying prick. You wont get deleted because you pay Right........it has nothing to do with the fact that 51 other forum members have befriended me or that I try to include content with nearly everything I post here or that I don't spam. It's because I donate money to keep the site running right? By the way Patrick is providing a service and since you want to use that service, I suggest that you should also help out and send him a small donation. Unlimited free speech should not be practiced on this forum because some people are too stupid, too arrogant, or too full of hate to be trusted with it. It's really too bad but it happens to be the truth.

8. yup1 Follow Befriend 10 threads 379 comments

   84   12:41pm Sat 1 Dec 2012   Share   Quote   Permalink   Like   Dislike (1)   iwog says Right........it has nothing to do with the fact that 51 other forum members have befriended me or that I try to include content with nearly everything I post here or that I don't spam. Do you have a lot of facebook friend too? iwog says It's because I donate money to keep the site running right? By the way Patrick is providing a service and since you want to use that service, I suggest that you should also help out and send him a small donation. It shouldn't limit my speech. iwog says Unlimited free speech should not be practiced on this forum because some people are too stupid, too arrogant, or too full of hate to be trusted with it. It's really too bad but it happens to be the truth. If that is the additude this forum will be shutting down in the not to distant future because it will have no value. A bunch of like minded individuals will be hanging out given eachother high fives after each new member with a different point of view is banned. Sounds a little like church.

9. yup1 Follow Befriend 10 threads 379 comments

   85   12:42pm Sat 1 Dec 2012   Share   Quote   Permalink   Like   Dislike   yup1 says Sounds a little like church. Or the tea party

10. robertoaribas Follow Befriend (23) 55 threads 3,802 comments Scottsdale, AZ robertoaribas's website

    86   2:00pm Sat 1 Dec 2012   Share   Quote   Permalink   Like (1)   Dislike   iwog says Patrick allows people to mark a post as spam if it's: 1. Spam (stunningly difficult to comprehend I know) 2. Pointless childish personal attacks with no relevance to the conversation or the forum Patrick does not allow you to mark things as spam if you simply disagree with what is being posted. That will get you banned immediately and if that was your crime, you deserved to be removed. I will mark spam when someone reposts the same thing as well. For example, someone posts a graph. I or someone else points information counter to that example, and the poster reposts the same info. that is needless, it doesn't become more true by posting it more often. Both are already up, and that is abusive behavior for the forum. I do not mark insulting names or words at me as spam, because i don't care about insults. I do mark calling me a liar as spam, because unless someone cares to back it up with facts, in any other non anonymous forum that would be considered libel, and thus I don't think it should be tolerated here. Anyways, I think Patrick does a fine job of sorting them out, and I try to not unduly send spam markings to @patrick

11. yup1 Follow Befriend 10 threads 379 comments

    87   2:19pm Sat 1 Dec 2012   Share   Quote   Permalink   Like   Dislike   robertoaribas says I do not mark insulting names or words at me as spam, because i don't care about insults. I do mark calling me a liar as spam, because unless someone cares to back it up with facts, in any other non anonymous forum that would be considered libel, and thus I don't think it should be tolerated here. If you don't consider your linked blog having posts by you saying Evidence piling up that the Phoenix Arizona Housing Market is in big trouble. Posted on September 16, 2010 Why am I still bearish, when there has been good news on some housing fronts? Posted on October 16, 2010 by robertoaribas and here is you Oct 31 2012 post You gave Phoenix as an example. I have 3 condos under contract today, that are selling at 80%+ off of peak prices. They are not even in the worst areas, though certainly not luxury. 30K for a 3/2 2 car garage 1450 square feet, near metro rail and freeways... rents for $800. This isn't 2000 pricing, this isn't 1990 pricing, this is NEVER pricing, they sold new for 60's in 1982. Told your blog followers you are a bear on Oct 16, 2010. Told this forum you are in contract to buy Oct 31, 2010. Maybe it isn't a lie, it is pretty damn close.

12. iwog Follow Befriend (48) 274 threads 12,559 comments 47 male Lafayette, CA Premium

    88   2:23pm Sat 1 Dec 2012   Share   Quote   Permalink   Like   Dislike   Protected   yup1 says If that is the additude this forum will be shutting down in the not to distant future because it will have no value. A bunch of like minded individuals will be hanging out given eachother high fives after each new member with a different point of view is banned. Sounds a little like church. I'm a perfect example of how pathetically wrong you are on this point. Patrick and myself are STRONG opposites when it comes to the housing market. I started posting in 2008 that I thought real estate was a good investment, even before we hit the 2009 bottom. I've been a very vocal real estate bull since then and I've never once been limited in my participation.

13. yup1 Follow Befriend 10 threads 379 comments

    89   2:25pm Sat 1 Dec 2012   Share   Quote   Permalink   Like   Dislike   So you are basically saying that from Oct 16, 2010 to Oct 31, 2010 you went from being a "bear" to being in contract to buy. Holy F*** that is one massive change of heart, mind, and soul. I noticed you did not tell your blog of your actions until Aug 17, 2012. Of course you even told half truths at that time "Full disclosure, I began buying properties 18 months ago" That is a half truth because you actually started on Oct 31, 2010 not in March 2011 like you claim. Now you come on hear and toot your own horn on a hourly basis.

14. yup1 Follow Befriend 10 threads 379 comments

    90   2:30pm Sat 1 Dec 2012   Share   Quote   Permalink   Like   Dislike   And now robertoaribas will promptly meltdown, start calling me names, and cry to Patrick to have me banned. Even though I have not called him a liar, and have backed up his statements with his own statements. How did you put it robertoaribas says because unless someone cares to back it up with facts Backed it up with facts! In fact in your own words.......

15. iwog Follow Befriend (48) 274 threads 12,559 comments 47 male Lafayette, CA Premium

    91   2:40pm Sat 1 Dec 2012   Share   Quote   Permalink   Like   Dislike   Protected   I'd rather see a flame war and watch people call each other names than read all this whining.

16. yup1 Follow Befriend 10 threads 379 comments

    92   2:43pm Sat 1 Dec 2012   Share   Quote   Permalink   Like   Dislike   iwog says I'd rather see a flame war and watch people call each other names than read all this whining. I know reading is actually a little hard for you DuckFace!

17. iwog Follow Befriend (48) 274 threads 12,559 comments 47 male Lafayette, CA Premium

    93   3:06pm Sat 1 Dec 2012   Share   Quote   Permalink   Like (2)   Dislike   Protected   yup1 says iwog says I'd rather see a flame war and watch people call each other names than read all this whining. I know reading is actually a little hard for you DuckFace! Much better.

18. yup1 Follow Befriend 10 threads 379 comments

    94   4:41pm Sat 1 Dec 2012   Share   Quote   Permalink   Like   Dislike   yup1 says So you are basically saying that from Oct 16, 2010 to Oct 31, 2010 you went from being a "bear" to being in contract to buy. Holy F*** that is one massive change of heart, mind, and soul. I noticed you did not tell your blog of your actions until Aug 17, 2012. Of course you even told half truths at that time "Full disclosure, I began buying properties 18 months ago" That is a half truth because you actually started on Oct 31, 2010 not in March 2011 like you claim. Now you come on hear and toot your own horn on a hourly basis. And there you have it no response from robertoaribas!

19. robertoaribas Follow Befriend (23) 55 threads 3,802 comments Scottsdale, AZ robertoaribas's website

    95   5:19pm Sat 1 Dec 2012   Share   Quote   Permalink   Like   Dislike   yup1 says If you don't consider your linked blog having posts by you saying Evidence piling up that the Phoenix Arizona Housing Market is in big trouble. Posted on September 16, 2010 Why am I still bearish, when there has been good news on some housing fronts? Posted on October 16, 2010 by robertoaribas and here is you Oct 31 2012 post You gave Phoenix as an example. I have 3 condos under contract today, that are selling at 80%+ off of peak prices. They are not even in the worst areas, though certainly not luxury. 30K for a 3/2 2 car garage 1450 square feet, near metro rail and freeways... rents for $800. This isn't 2000 pricing, this isn't 1990 pricing, this is NEVER pricing, they sold new for 60's in 1982. Told your blog followers you are a bear on Oct 16, 2010. Told this forum you are in contract to buy Oct 31, 2010. Maybe it isn't a lie, it is pretty damn close. I had quit writing on my blog(s) altogether. I only restarted when several different people wrote me emails asking me to. the last time you were on here, and your obsessive little bitch ass was following me around, you claimed that I had "started buying homes while telling everyone else not to, hence making me a liar..." Since I pointed you to the post proving that wasn't true, you'll now reverse course and take a different track... Ok fine... here is the link for any other curious readers: http://patrick.net/forum/?p=579064 Notice my quote at the end, "I only feel it is fair to disclose what I am actually buying, since I write my fairly negative view of most real estate markets on here with frequency and gusto." I notice you didn't mention that? A smarter person than you would conclude that, though generally bearish on the market, the three deals I had under contract where so cheap as to compel me to buy, DESPITE general reservations about the market. Now, I know your blind rage at me, or perhaps your general nature precludes much in the way of thinking. Do you think it is possible for someone generally negative about the future of stocks, to yet think that some stocks are good deals, and thus buy them? or is that beyond you? Now, I know since you have your proctology headlite on, and are attempting to look straight up my rectum, you saw the 4th post on that very thread: "I make tons and tons of lowball offers on short sales... It is a time consuming process. I also want to stress, that I still have some fears: 1. I miss pick, and an HOA goes default in one of my condos, or goes up dramtically. 2. rents fall further, making these much less attractive. 3. punitive government taxes get enacted against landlords later on to save state/city/county budgets... so, I am still buying them, but have my worries too." Does that sound like a raging housing bull to you? hmmm.... Or someone taking a gamble in a market they still were worried about? And, as one last fact, I waited yet another entire year to buy my own home... My own home cost 2.5 times all three of those investments together, and clearly it was much more important for me to feel sure the market bottom was in, before investing that much money into a single house... I get it yup1. you don't like me. You are extremely jealous of me, and will go to obsessive lengths to take me on, on here. You need help, does your uber important job to society come with in house counseling? you should really avail yourself of such services if available.

20. yup1 Follow Befriend 10 threads 379 comments

    96   6:10pm Sat 1 Dec 2012   Share   Quote   Permalink   Like   Dislike   yup1 says And now robertoaribas will promptly meltdown, start calling me names, and cry to Patrick to have me banned. Looks like you did as predicted, again..... robertoaribas says obsessive little bitch ass robertoaribas says A smarter person than you robertoaribas says Now, I know your blind rage at me, or perhaps your general nature precludes much in the way of thinking. robertoaribas says Now, I know since you have your proctology headlite on, and are attempting to look straight up my rectum robertoaribas says You are extremely jealous of me, and will go to obsessive lengths to take me on, on here. You attempt to weasel out with "I quit my blog" LOL I wonder home many properties you had when you started posting again on Aug 17, 2012? I am gonna guess you had already purchased ALL of the properties you bought. You are the equivalent of a wall street slimeball telling his clients to buy the same crap he is selling, and to sell the same crap he is buying. I mean you are selling yourself on your website as a professional. "Roberto Ribas Realtor and Mathematics Professor. I’ve been investing and working in real estate for over a decade. My background in mathematics enabled me to see the bubble coming. I have been researching housing bubbles and markets for many years now." "Phoenix Finance and Home Buying Economics" Nice advice you gave your readers on your website. You are Realtard Scum!

21. ELC Follow Befriend (3) 3 threads 657 comments Fort Lauderdale, FL

    97   6:36pm Sat 1 Dec 2012   Share   Quote   Permalink   Like   Dislike   yup1 says My background in mathematics enabled me to see the bubble coming. I have been researching housing bubbles and markets for many years now." I bet it had nothing to do with math. He was probably reading Dr. Housing Bubble's blog. That blog laid it out very concisely.

22. Bigsby Follow Befriend 2,826 comments Monterey, CA

    98   6:43pm Sat 1 Dec 2012   Share   Quote   Permalink   Like (1)   Dislike   yup1 says You attempt to weasel out with "I quit my blog" LOL I wonder home many properties you had when you started posting again on Aug 17, 2012? I am gonna guess you had already purchased ALL of the properties you bought. You are the equivalent of a wall street slimeball telling his clients to buy the same crap he is selling, and to sell the same crap he is buying. I mean you are selling yourself on your website as a professional. "Roberto Ribas Realtor and Mathematics Professor. I’ve been investing and working in real estate for over a decade. My background in mathematics enabled me to see the bubble coming. I have been researching housing bubbles and markets for many years now." "Phoenix Finance and Home Buying Economics" Nice advice you gave your readers on your website. You are Realtard Scum! You are complaining about his insults, and yet, you are also insulting him. He's given you a perfectly cogent explanation of what he did, including a relevant link, so why are you continuing with this?

23. robertoaribas Follow Befriend (23) 55 threads 3,802 comments Scottsdale, AZ robertoaribas's website

    99   7:22pm Sat 1 Dec 2012   Share   Quote   Permalink   Like   Dislike   yup1 says You are the equivalent of a wall street slimeball telling his clients to buy the same crap he is selling, and to sell the same crap he is buying. I mean you are selling yourself on your website as a professional. yup1 says You are Realtard Scum! Much as I'd love to continue our scintillating conversation, I'm going out tonight. yup1, here is a link to get you started to dealing with your envy in a more healthy manner. Best of luck to you! http://www.emotionalcompetency.com/envy.htm

24. yup1 Follow Befriend 10 threads 379 comments

    100   6:43am Sun 2 Dec 2012   Share   Quote   Permalink   Like   Dislike   Bigsby says You are complaining about his insults, and yet, you are also insulting him. I called him Realtard Scum and you consider that an insult? He is a realtard which by definition means he is scum.

25. yup1 Follow Befriend 10 threads 379 comments

    101   6:48am Sun 2 Dec 2012   Share   Quote   Permalink   Like   Dislike   robertoaribas says yup1, here is a link to get you started to dealing with your envy in a more healthy manner. Why is it you think anyone would be envious of you? I have no desire to be a slumlord. I have no desire to collect rents from the less fortunate. I have no desire to be a realtard and lead people to the path of debt slavery. I have no desire to be a junior college teacher leading those young minds to a life of debt slavery. You obviously think very highly of yourself. Maybe you should reconsider.

26. Bigsby Follow Befriend 2,826 comments Monterey, CA

    102   6:55am Sun 2 Dec 2012   Share   Quote   Permalink   Like   Dislike   yup1 says Bigsby says You are complaining about his insults, and yet, you are also insulting him. I called him Realtard Scum and you consider that an insult? He is a realtard which by definition means he is scum. It's an insult, so quit complaining about being insulted. If you want to dish it out...

27. Bigsby Follow Befriend 2,826 comments Monterey, CA

    103   6:57am Sun 2 Dec 2012   Share   Quote   Permalink   Like   Dislike   yup1 says I have no desire to be a slumlord. I have no desire to collect rents from the less fortunate. I have no desire to be a realtard and lead people to the path of debt slavery. I have no desire to be a junior college teacher leading those young minds to a life of debt slavery. Damn, that's a lot of crap in one paragraph. And how does it make you feel belittling someone for being a teacher?

28. robertoaribas Follow Befriend (23) 55 threads 3,802 comments Scottsdale, AZ robertoaribas's website

    104   7:14am Sun 2 Dec 2012   Share   Quote   Permalink   Like   Dislike   yup1 says I have no desire to collect rents from the less fortunate. The college students and young professionals who rent my places would have a serious issue with your characterizations... until they realize it is just haphazard insults from somebody terribly bitter with envy!

29. yup1 Follow Befriend 10 threads 379 comments

    105   7:16am Sun 2 Dec 2012   Share   Quote   Permalink   Like   Dislike   Bigsby says It's an insult, so quit complaining about being insulted. If you want to dish it out... Are you his little bitch? Bigsby says And how does it make you feel belittling someone for being a teacher? Makes me feel just fine. Unlike you media programmed fucktards I do not believe that every teacher comes directly from heaven. In fact this little scunbag realtard and jc teacher says he left ASU to become a jc teacher for more pay, ROFL.

30. yup1 Follow Befriend 10 threads 379 comments

    106   7:28am Sun 2 Dec 2012   Share   Quote   Permalink   Like   Dislike   robertoaribas says yup1 says I have no desire to collect rents from the less fortunate. The college students and young professionals who rent my places would have a serious issue with your characterizations... until they realize it is just haphazard insults from somebody terribly bitter with envy! Oh you actually think you are providing a valuable service. Collecting rents from others is a valuable service for you, not for them.

31. robertoaribas Follow Befriend (23) 55 threads 3,802 comments Scottsdale, AZ robertoaribas's website

    107   7:30am Sun 2 Dec 2012   Share   Quote   Permalink   Like   Dislike   yup1 says In fact this little scunbag realtard and jc teacher says he left ASU to become a jc teacher for more pay, ROFL. it was 17 years ago, my salary at ASU was 32K for a nine month contract... I made 45K my first year at the community college... this year with research grants and extra contracts it is around 100K. I can tell you are very happy with yourself and your life, since all you can do is come on here and attack me!!!!

32. robertoaribas Follow Befriend (23) 55 threads 3,802 comments Scottsdale, AZ robertoaribas's website

    108   7:33am Sun 2 Dec 2012   Share   Quote   Permalink   Like   Dislike   I take yoga at a hot yoga studio... You should try yoga, the meditative aspects might help you with your obvious envy and hatred.

33. yup1 Follow Befriend 10 threads 379 comments

    109   7:35am Sun 2 Dec 2012   Share   Quote   Permalink   Like   Dislike   robertoaribas says all you can do is come on here and attack me!!!! Attack, if you call pointing out what you have posted on here and your blog attacking you. I pointed out your deception on your blog. I pointed out your bragging about yoga classes. The truth hurts.

34. Bigsby Follow Befriend 2,826 comments Monterey, CA

    110   7:36am Sun 2 Dec 2012   Share   Quote   Permalink   Like   Dislike   yup1 says Bigsby says It's an insult, so quit complaining about being insulted. If you want to dish it out... Are you his little bitch? Why are you spending your time pissing and moaning about being insulted whilst simultaneously insulting others? You come across as a complete dick. yup1 says Makes me feel just fine. Unlike you media programmed fucktards I do not believe that every teacher comes directly from heaven. In fact this little scunbag realtard and jc teacher says he left ASU to become a jc teacher for more pay, ROFL. Who said every teacher came directly from heaven? But you decided to disparage a profession rather than directly address the person. I guess you are just a very important person with a very important job rather than the douche bag you come across as.

35. yup1 Follow Befriend 10 threads 379 comments

    111   7:37am Sun 2 Dec 2012   Share   Quote   Permalink   Like   Dislike   robertoaribas says I take yoga at a hot yoga studio... You should try yoga, the meditative aspects might help you with your obvious envy and hatred. The only envy here is your envy for more of you. Why don't you log into Bigsby now and use him to defend you, again.

36. yup1 Follow Befriend 10 threads 379 comments

    112   7:38am Sun 2 Dec 2012   Share   Quote   Permalink   Like   Dislike   Sorry a little late on that one. HERE COMES BIGSBY/ROBERTO

37. Bigsby Follow Befriend 2,826 comments Monterey, CA

    113   7:39am Sun 2 Dec 2012   Share   Quote   Permalink   Like   Dislike   yup1 says robertoaribas says I take yoga at a hot yoga studio... You should try yoga, the meditative aspects might help you with your obvious envy and hatred. The only envy here is your envy for more of you. Why don't you log into Bigsby now and use him to defend you, again. Perhaps because we are two different posters.

38. robertoaribas Follow Befriend (23) 55 threads 3,802 comments Scottsdale, AZ robertoaribas's website

    114   7:39am Sun 2 Dec 2012   Share   Quote   Permalink   Like   Dislike   yup1 says The truth hurts. it hurts you, that much is clear for everyone to see. You must not have any life at all, to spend so much time following me around here! Are you in love with me? face it, you have a homosexual crush on me, that is why you spend your days researching me! Notice I know nothing, and care nothing for you! Now, go get yourself some help!

39. yup1 Follow Befriend 10 threads 379 comments

    115   7:41am Sun 2 Dec 2012   Share   Quote   Permalink   Like   Dislike   robertoaribas says yup1 says The truth hurts. it hurts you, that much is clear for everyone to see. You must not have any life at all, to spend so much time following me around here! Are you in love with me? face it, you have a homosexual crush on me, that is why you spend your days researching me! Notice I know nothing, and care nothing for you! Now, go get yourself some help! Again you think way too much of yourself. Kind of creepy dude. Are you going to all male yoga classes?

40. Bigsby Follow Befriend 2,826 comments Monterey, CA

    116   7:43am Sun 2 Dec 2012   Share   Quote   Permalink   Like   Dislike   yup1 says Again you think way too much of yourself. Kind of creepy dude. Are you going to all male yoga classes? Nice. Adding a bit of homophobia to the mix. Classy stuff.

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