patrick.net

Hmmm...lending business going down? I guess rich are getting better off than banks that they don't need banks to loan em the money.

LOL

I ain't buying a house until they are giving them away for free when I sign up for a checking account.

Yeah, let's screw the banks. Stop borrowing. Let em come begging to you to take their money. :)

This means rate is gonna drop soon on top of dropping sales and prices. Drops, drops, drops everywhere.

youre wrong because you claimed prices would skyrocket in 2014, that hasn't happened idiot

concord has been on a decline since september and inventory never bottomed like you claimed during the winter

when are you going to stop being wrong asshole?

Is true that price began to stabilize since Sep last year. Is still unclear whether what will happen in 2014 since activity normally picks up in late Spring. Is still early to tell the direction.

Iwag says

youre wrong because you claimed prices would skyrocket in 2014, that hasn't happened idiot

Wow, is it the 31st of December already? Time flies.

bgamall4 says

I can't see them wanting the total destruction of main street.

I think you are missing prospective.

They are blind to the damage they are causing simply because of greed.

Giant scam, that's what I see it as. Someone is selling virtual currency, and it's legal.... obviously our government isn't that clueless, so I think they are complicit in this somehow.

Why else let some scam like that operate?

Call it Crazy says

Bigsby says

what changed your mind from your claimed neutral position in 2009 to extremely negative at the beginning of 2012?

Call it Crazy says

Markets and situations

So you keep saying. Unfortunately that is not an explanation. What changed about the markets and situations between 2009 and the beginning of 2012 to move you from your claimed neutral stance to your current persona of rabid perma-bear? Or would you just like to admit that wasn't actually your view back in 2009?

Call it Crazy says

House prices slowing down: Case-Shiller

Shiller must be wrong. Anyone who is against home price increase should be wrong!

jojo says

Capitalism requires continuous growth everywhere and in all directions without limit. This is in direct conflict with our own limits as a society and civilization. For example, capitalism requires an ever growing population. This conflicts with population growth in many western economies ; population growth is slowing in the US, and has reversed in Japan). This is a fatal flaw of the system. One of many.

What brand of "capitalism" is this you speak of?

Creative destruction, and bankruptcy/failure would allow capitalism to function into perpetuity, wouldn't it? Without perpetual growth, in population, or otherwise

bubblesitter says

Mortgages should be eliminated.

You should be eliminated.

As was predicted by many on Patnet

What kind of mother would entrust her children to a death cult that claims to worship a dead guy, complete with sculptures of the tortured corpse all over the place? She's lucky the kids survived at all.

She must have been putting her sons in open ass chaps whenever they went to visit.

Clearly, the mother should be burned at the stake and her money and property donated to the Church she defiled.

When you belong to a church, you need to play by the rules. 1. Church: always right, give all your worldly possessions so you can live in glorious spirituality without distractions 2. You: always wrong, revel in the guilt and masochism.

curious2 says

complete with sculptures of the tortured corpse

It gets better. In fact - and here I wonder why ApocalypseFuck isn't Catholic - each week you get to eat pieces of the dead guy, and God fucked the dead guy's mother.

But don't worry: the dead guy is coming back any day now, even though he's been coming back for almost 2000 years, any day now.

I so enjoyed watching Catholics laugh at Heaven's Gate, for claiming there's a spaceship behind a comet. They just couldn't get over how silly it would be to believe such a thing. That Sunday, they went to church to eat more of the dead guy whose mother God fucked - but she's still a virgin.

Ceffer says

Clearly, the mother should be burned at the stake and her money and property donated to the Church she defiled.

Yes. Women are always defiling the sacred church in this way. That's why they can't be priests. Everyone knows that.

In reference to the top redfin graph above from doctorhousingbubble.com

"Last year, six weeks into the year something like 51 percent of Redfin customers were signing offers. For 2014, it is down to 8 percent. Since California is heavily represented in the 19 areas covered, you can easily see that something is turning in the market. It definitely isn’t the weather since fall and winter felt more like a massive spring. Unfortunately sun doesn’t pay the bills otherwise Arizona and Nevada would be the wealthy states in the nation."

http://www.doctorhousingbubble.com/polar-vortex-real-estate-california-2014-sales-and-prices/

So for year over year comparisons it sure doesn't look good for the housing bulls.

evilmonkeyboy says

Last year, six weeks into the year something like 51 percent of Redfin customers were signing offers. For 2014, it is down to 8 percent.

This is incorrect. The Redfin graph is showing YoY growth. 8% growth is still growth over last year, which was a crazy up year. The graph is showing that 2014 is off to a faster start than 2013.

That being said, Redfin needs to account for inventory levels. Sales numbers in isolation don't tell the full story. Redfin alludes to this with the following quote: "In February and March, we expect low inventory will keep sales volume suppressed to about 10 percent below 2013 levels. "

The Fed's probably created Bitcoin. It's the same game, just another name. Hang on to your physical gold.

Call it Crazy says

Nope, you're reading it wrong... It DIDN'T say YoY growth.

Look at the chart. Now look at the Y-axis. It states "YoY Growth".

lOAPOCALYPSEFUCKisShostikovitch says

El HydroCabron says

I wonder why ApocalypseFuck isn't Catholic - each week you get to eat pieces of the dead guy, and God fucked the dead guy's mother.

A deity worthy of the name would have *skull-fucked* the dead guy's mother.

He did, as foreplay.

So who's more of a sick fuck? These Pedophiles or a Satanic Finance Mobster like me?

Call it Crazy says

The first bar is the comparison of the start of 2013 to the start of 2012... (First 6 weeks) Then, the second bar is the comparison of the start of 2014 compared to the start of 2013. (First 6 weeks)

Yes, that is what you call YoY growth. 2014 had 8% more people making offers in the first 6 weeks than in 2013.

Call it Crazy says

Where did the 51% number come from? It had to be a comparison against something...

You already answered that question yourself - 2012.

Thanks RBES for adding some perspective, the thread was in danger of becoming too narrow.

El HydroCabron says

I wonder why ApocalypseFuck isn't Catholic - each week you get to eat pieces of the dead guy, and God fucked the dead guy's mother.

The issue is where to get fresh corpses now that the Inquisition is no longer allowed to kill people. That's why Cardinal Nazinger reached out to Muslims - those people are always killing each other. When Nazinger pointed out that Islam is inherently violent, Muslims took offense (as they always do), but he meant it as praise. He was trying to combine the inherent, lethal violence of Islam with the cannibalism he'd grown up with. Why settle for vegetarian substitutes if you can consume actual flesh and blood? Whether the Shia kill the Sunnis, or the Sunnis kill the Shia, there's no reason to let all those corpses go to waste when they can feed a billion Christians every Sunday. That would be a religion AF could bite into and swallow.

Robber Baron Elite Scum says

So who's more of a sick fuck? These Pedophiles or a Satanic Finance Mobster like me?

The people who work at Goldman Sachs have you both beat.

turtledove says

All I know is we've been looking to buy in south orange county for several months, now. Month after month, we see the same homes. Not a lot of movement. A few new ones get added here and there.... some disappear from the listings only to return to the MLS a week or two later. If people are buying/listing in south county, I see no evidence of it in the 4br, 3000+ category. That's okay. I'm a fairly patient person.

I'm seeing a similar trend in the Bay Area. Same houses on the market for months, and then showing up weeks later as a brand new listing, sometimes with a new cover photo. Every real estate agent I know loves to sing the ballad of, "Six Chinese Buyers All Cash" but all l see is overpriced junk staying on the market forever and then disappearing only to come back as a new listing. I've also seen things go for way under asking. Bid wars? Hot market? That's what Redfin, Zillow and the people invested in real estate say, so it must be true.

turtledove says

I'm seeing a similar trend in the Bay Area. Same houses on the market for months, and then showing up weeks later as a brand new listing, sometimes with a new cover photo. Every real estate agent I know loves to sing the ballad of, "Six Chinese Buyers All Cash" but all l see is overpriced junk staying on the market forever and then disappearing only to come back as a new listing. I've also seen things go for way under asking. Bid wars? Hot market? That's what Redfin, Zillow and the people invested in real estate say, so it must be true.

If that is true then inventory must be increasing. Is it?

Where's Alex Jones on this? I'm pretty certain there are conspiracy onion layers to be peeled on this one.

bgamall4 says

It is Zionism, plain and simple. They want to, as Will Rogers once said of the banking cabal, Wall Street just lets you suffer. What happens is that the international bankster cabal wants very, very slow growth. They can't afford interest rates to go up anymore, because there are mega trillions of dollars the banks have bet on interest rates staying low. They will all go bust if those rates go up too much.

You should be eliminated too. You are a threat to my NWO organization.

This reeks of zionist plot

curious2 says

He was trying to combine the inherent, lethal violence of Islam with the cannibalism he'd grown up with. Why settle for vegetarian substitutes if you can consume actual flesh and blood?

When the Catholic Church starts serving up FACE, I'll be impressed.

The 30 year mortgage rate has gone up to close to 4.5% and consider that it was down to around 3% about a year ago. A lot of the distressed properties were bought up by investors, so inventory is smaller for those potential buyers that are looking for starter homes. Hence, look at the drop in mortgage applications to understand why perhaps banking is seeing less business, and are consequently laying off people:

http://nationalmortgageprofessional.com/news47077/Mortgage-Apps-Dip-4.1-Percent-Over-Last-Week

I glad everything is 100% secure on them there interwebs.

A few cleaned up but more suckers had their clock cleaned?

tatupu70 says

komputodo says

really? that's how your mind works?

Yep--because it's a dumb statement to begin with, worthy of a pithy response.

Typical diversion techniques. Great arguing with a person with this ability because nothing ever gets resolved.

Bigsby says

Even? It's about 3-400 higher than when you made your fanciful claims.

You mean 300-400 out of 16,000? Wow!

Care to run the numbers on Uranium and Gold since that time? I dare yah. Uranium has been up strong (5% or more) each of the last 3 days. Again, you fail to use math properly. Good luck to you.

Graph says it all. Little action on the Dow but huge upside swings on Gold and Uranium

Bigsby has trouble understanding - here is help

http://patrick.net/?p=1223775&c=1052340#comment-1052340

RentingForHalfTheCost says

Bigsby says

Even? It's about 3-400 higher than when you made your fanciful claims.

You mean 300-400 out of 16,000? Wow!

Care to run the numbers on Uranium and Gold since that time? I dare yah. Uranium has been up strong (5% or more) each of the last 3 days. Again, you fail to use math properly. Good luck to you.

Graph says it all. Little action on the Dow but huge upside swings on Gold and Uranium

Bigsby has trouble understanding - here is help

That's not even, is it? And what does it matter what gold and uranium did? We all know you are just lying about what you are doing in the first place and/or changing stuff after the fact.