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APOCALYPSEFUCK is Comptroller says

I just know Jesus would have taken a shit on Warren's face.

Gives a whole new meaning to "turn the other cheek".

Hello Everyone!

I've been a super long time reader coming here sometimes daily or at least weekly for years. I had my profile set-up but then lost/forgot my password and was too lazy to reset it.

I guess the reason I'm telling you this is because I really have learned so much from all of you, even when you rant and rave. Thank you all. I read Patrick and DrHousingBubble as well as IrvineRenter's blogs (ochousingnews).

I have been sitting on the fence since 2007 renting. I have been a little scared to buy and am now seriously considering buying as an investor but I do believe housing will be cheaper in the fall/winter. Truth, I am happy renting, but I feel I have outgrown my living situation and need more space, so my next move should be a larger house, possibly even a purchase. I'm just toooo risk adverse, that I still haven't been able to figure out if now is the right time.

Anyways, I'm not asking for advice, I know most of the more frequent users opinions. I just might decide to become more engaged in your conversations while I try to come to terms with my decision. Just wanted to introduce myself and say thanks for being highly opinionated and in many cases super knowledgeable.

One more thing, I'm a lazy typer since I do that all day, so when I'm away from work, that is the last thing I want to do.

Apocalypse, you crack me up with your cannibal anarchy mentality... keep it up!

And how did the median price in the US say around 2010 and adjusted for inflation compare to previous years? How many previous bubbles had 4 year bull traps AFTER prices had basically returned to historical norms?

Bigsby says

AFTER prices had basically returned to historical norms?

look at this asshole

he can't help himself. historical norms. what a dishonest liar.

Iwag says

Bigsby says

AFTER prices had basically returned to historical norms?

look at this asshole

he can't help himself. historical norms. what a dishonest liar.

Says the 'man' who claimed to live in Phoenix, but now supposedly bought a Victorian in SF when he was 21 whilst simultaneously saying that the government is paying for his medical care, housing and food... etc. etc.

Now back to housing - were prices in 2010/2011 in a bubble in the US or were they back on or near their general historical price trend? It's a simple question even for you.

Ceffer says

APOCALYPSEFUCK is Comptroller says

I just know Jesus would have taken a shit on Warren's face.

Gives a whole new meaning to "turn the other cheek".

And holy shit.

This post says a lot more about you than it does about Rick Warren. And what it says is so awful that I decline to even debate the point with the likes of you. Seriously, I feel like I need to go wash my hands after reading this filth.

The article clearly sais "as buyers rushed to lock in interest rates before they rise further". So, this rise in sales is not sustainable, because:

#1 Current increase in sales took sales away from the future.
#2 At some point, as rates rise further, the effect of locking in interest rates wears down.

Iwag - you are out of you friggin' mind dude

It's sad that you obviously must have gotten burned in real estate but seriously...IWAG??? you are going to take on somebody else's name and troll??

You need help. Nobody will listen to you.

Bigsby says

Says the 'man' who claimed to live in Phoenix,

another lie! you will never find a place where i claimed to live in phoenix. i have sensitive skin and would never live in a fiery shit hole like that. you are just proving what a dishonest person you are when you lie like that

SubOink says

It's sad that you obviously must have gotten burned in real estate

look at this asshole, he thinks that everyone is like him

sorry asshole, the last time i got burned investing in anything was when i bought shares of yahoo back in 2008. in real estate, my investments are flawless. like i said to roberto, i challenge anyone on this site who bought in 2009, 2010, 2011, or 2012 to compare gains.

you're just a sorry asshole liar making claims about someone you dont know

Quigley says

This post says a lot more about you than it does about Rick Warren.

Rick Warren is just another Televangelist / Mega-Church personality selling God to the gullible. And he's fabulously wealthy as a result. Why does an all-powerful God need your money?

and the Home Ownership rate continues to decline:

http://research.stlouisfed.org/fred2/series/USHOWN

I think this is the set of charts you like, let me know before we begin if this is data you would challenge.

This is from an article today:

Poverty is on the rise in single-mother families. More people are falling into the lowest-income group. And after earlier signs of increased mobility, fewer people are moving as homeownership declined for a fifth straight year.

"We're in a selective recovery," said William H. Frey, a Brookings Institution demographer who analyzed the numbers.

Iwag says

SubOink says

It's sad that you obviously must have gotten burned in real estate

look at this asshole, he thinks that everyone is like him

sorry asshole, the last time i got burned investing in anything was when i bought shares of yahoo back in 2008. in real estate, my investments are flawless. like i said to roberto, i challenge anyone on this site who bought in 2009, 2010, 2011, or 2012 to compare gains.

you're just a sorry asshole liar making claims about someone you dont know

LOL. Did I strike a nerve there?

Quigley,
How do you know filth,unless you've been reading filth?
Why are you reading filth?

Iwag says

Bigsby says

Says the 'man' who claimed to live in Phoenix,

another lie! you will never find a place where i claimed to live in phoenix. i have sensitive skin and would never live in a fiery shit hole like that. you are just proving what a dishonest person you are when you lie like that

DarrellInPhoenix

David Losh says

If the consumer is denied the one thing that they can control to create wealth, which is the family home, then they have no wealth effect that Bernanke is desperately trying to foster.

Houses *do not* create wealth. Factories create wealth.

David Losh says

The trickle down dream of giving the wealthy more money never worked for Reagan, and it's not working now.

True. But Reaganomics is a religion. To question it is heresy.

David Losh says

If you take away all the consumer's money, if you destroy the middle class, then you lose your feudal system.

What? I don't understand.

Everybody knows that prosperity comes from Jesus, not from understanding science and economics.

If you're not rich, it's only because you're not praying hard enough.

APOCALYPSEFUCK is Comptroller says

Simply satanic.

He's doing God's work.

APOCALYPSEFUCK is Comptroller says

Right, you get to Jesus by wrapping your lips around Warren's dick and handing him a bag of money. Galloshians 10:10.

Rick Warren gets your money. Ted Haggard gets your lips...

Tim Aurora says

I thought you said that housing was not an investment

Paying twice the price for a housing unit through interest payments, isn't an investment, it is a forced savings plan with the idea that you are some how saving rental payments?

I don't really get it in todays economic climate, but the idea, in the past, was that you paid off your mortgage to have some equity.

Today it seems like appreciation in asset prices is supposed to make it appear as an investment, and the hedge against inflation.

The Professor says

ChapulinColorado says

you crack me up with your cannibal anarchy mentality

Cannibal anarchy (CA) is not funny and is something to be avoided.

CA will happen when entitlement spending supports more than half of the population and the government can no longer afford to pay.

At that point the hungry people will look around and see the working class people as rich. In their entitled mentality they will see it as not fair that somebody has something and they have nothing.

That's when the anarchy starts. Cannibalism is not far behind.

That's when the gatling guns and fences come in handy. Oh, and the yam stockpiles.

ja says

.. how do you know the current prices don't already reflect that expectation?

That's just it. Efficient market theory says that all of the relevant information is already "priced in."

Now with instant information and online trading, markets are probably more efficient than ever before.

Who is looking out for Middle class. Need a new party.

Dems get votes by creating more freeloaders. There will be shock when most people would prefer to free load then to work.

Republican have lost power, mostly by claiming them as rich or racist. (if 1% is rich then atleast another 44 % of republican must be middle class or poor.)

Patrick, can we create a new party?

Ducky said:
I do but there's no address in that article.
It's called legwork (and much easier for you as I have to triangulate from free realtytrac and zillow data)... At any rate they updated the story: The incident began shortly before 2 p.m. at 3497 Ashbourne Circle in the Norris Canyon Estates development west of San Ramon, authorities said. Zillow shows is was sold in 2004 for $1.365 million and, get this, foreclosed in 2010 for $1.28 million. Wow, was the former owner squatting the whole time?! Looks like there was a Wachovia refi in 2007...

Why do you keep referring to apofuck, as a he?

You're going to go and piss her off

errc says

You're going to go and piss her off

Hmmmm...he does look like Sarah Palin...

Well, this may be the case in some areas but I can tell you that home sales are not here in the central valley especially in my county have complete come to a screeching halt in August. Sales are down 50%. I have been receiving MLS listings and I can you that inventory is rising, homes are sitting and there has been multiple pricing reductions..........I'm not saying we are in a bubble, not saying we are in for a crash etc.. just sharing data and what I'm seeing. We have had a lot of investor activity out here until recently so it will be interesting to see if prices hold which in my humble opinion think they will not. I find it humorous that people think rates don't matter. Maybe they don't when peeps are buying cash, but I can assure you, being a prospective home buyer that they in fact do matter regardless of what data you show me. I 30% rise y-o-y in home prices on top of an additional 1.5% rate increase crushes a lot of purchasing power and at the end of the day, whenever that is LOL, "real" buyers have to be able to qualify and I can tell you out here that the price of an average stucco tract shit box is well above what a lot of people out here can afford due to recent events............again I'm not saying we are in for a crash or whatever but it feels a lot like 2006 out here. Time will tell : )

I'm sorry ducky, so you honestly think you didn't benefit from the Feds effort to inject liquidity into the market? You are "good" Casey Serin. A rational actor doing his part to help speed up price discovery and provide a floor on prices, aided by the Feds low rates (and, not by coincidence, helping to save the banks). And somewhere around homes 8,9, and 10 you helped turbo charge the market to where the prices now sit - elbowing out the cash from hedge funds or someone who simply wanted a place to live. You are that "marginal buyer" (just like Casey in the last round). Don't bet me wrong, the economy was "stimulated" by your refies. Let's just hope Ben can taper in our lifetimes...

Say hey! This was in the Wall Street Journal on March 30, 1999:

Holy cow/interesting/compelling ...!

And where is it up to date??? Right here ... see the first chart shown in this thread.
Recent Dow day is Thursday, September 19, 2013 __ Level is 99.9

WOW! It is hideous that this is hidden! Is there any such "Homes, Inflation Adjusted"? Yes indeed, go here:
http://patrick.net/?p=1219038&c=999083#comment-999083

They left out one detail.....how will prices stay the same or go up a little, if no one is buying. Some folks will "have to sell" so they will need to drop the price is there are no more buyers; the Investors with cash are gone; they have stopped. They even say that in the article that there is no more buyers....so how do you sell your house if you do not have a buyer???

It is liking asking the fox how the hen house is doing under his watch....

ducky said: This is the 1920s. Recovery and boom times on the coasts and depression in the heartland.
I've been wanting to start a Meredith Whitney thread. So you disagree with the thesis of her new book: “Forget everything you think you know about the direction of the American economy, about our grow­ing need for foreign oil, about the rise of the service economy and the decline of American manufacturing. The story of the next thirty years will not be a repeat of the last thirty.”

Remember before Ebay? You could have a garage sale, and if nobody in your immediate community came by, the item didn't sell.

But then Ebay came around, and suddenly the whole world could pick over your wares. Even the tackiest, overpriced trinket can get interest. It only takes one out of the four billion people on the planet.

Gone are the days when a house was only marketed to the immediate vicinity. Now everybody on the world can bid on it... all four billion.

It took fifteen years, but the housing market has now caught up to the garage sale market.

It's not a different world, just smaller.

That is not what they said:

"We are getting early signals from lock boxes that show a significant change in direction in August," said Lawrence Yun, chief economist for the National Association of Realtors, referring to the small key boxes that hang on the doors of for-sale homes. The number of times they were opened in August dropped dramatically, signaling a big drop in potential buyer traffic."

So again, if there are no buyers; how do prices stay high or go up???

I am planning to buy as I too think this is a good time for our retirement home purchase, but we are not 'rushing' in either....it will be interesting to watch, that is for sure.

Is the duckmobile (your truck) any different from what you drove five years ago?

And where we are looking there have been a lot of price reductions and homes staying on the market at least 60 days or more and selling less than asking. So we are working with our realtor to find the right home for the right price. A few months ago, we would barely look at a listing and it was sold....so something is going on.

Well, we shall see....I hope we find something soon!

Some more news on the former owners of the home on Ashbourne Circle in San Ramon:
Court documents show Ghoneim and his wife, Naoko Chiba, were entangled in the financial mess well before authorities arrived at their doorstep Wednesday afternoon. The two defaulted on a home loan and were currently fighting a bank over whether it had the right to evict them, and Chiba was also sued for being behind on rent for her Danville stationery and gift store, Pleasant Thoughts, court records show.

i don't know anyone who lives in phoenix asshole

the only people who live there are meth addicts and guys like roberto who rent to them