patrick.net

Call it Crazy says

I did recently buy but I didn't fuck up because I went into eyes wide open.... I don't regret it for a second, and I have no delusions that my "investment" will increase in value 10% a year. I actually expect house prices to fall here (based on the article above) and best case scenario, stay even....

I agree--I would never expect prices rise 10%/year. Who the heck expects that??

I bought because it was dramatically cheaper than renting in the area I wanted to be. LIke 30% cheaper.

Call it Crazy says

Didn't we touch on inventory already!!!

Just don't look to close at the pretty Blue houses on this map of your area.... (you know, the non-existent "shadow" inventory)...

We did. And as I told you then--Zillow is a horrible source for inventory numbers. But, as usual, you continue to post BS..

Call it Crazy says

No, I also pointed out inventory numbers in your county from NJAR... Are they BS too??

Nope. But I already pointed out the NJAR numbers from my city. Why do I care about the numbers in other cities in my county?

bgmal you are the best cure for insomnia I've ever found.

Call it Crazy says

tatupu70 says

Call it Crazy says

No, I also pointed out inventory numbers in your county from NJAR... Are they BS too??

Nope. But I already pointed out the NJAR numbers from my city. Why do I care about the numbers in other cities in my county?

So, you feel the real estate conditions in Mountainside, Fanwood, Cranford and Scotch Plains have no effect on Westfield???

Those do, and that's why they were included in the link I provided which showed low and shrinking inventory. Real estate in Elizabeth, Rahway, Linden, Plainfield, and to a lesser extent, roselle park, union, etc., don't.

The main problem is Elizabeth (maybe Rahway too)--that pulls in a lot of inventory that is not in competition.

It's all Obama's fault!!!

Already emailed my ex-coworkers at Wells Fargo to see if any of them just got the ax.

Those wealthy Chinese will drive the US banks out of business!

It's all Obama's fault!!!

Obama wants to kill off another 500,000 - 1,000,000 jobs with a minimum wage hike, yet for some reason you want to blame Republicans???

bgamall4 says

Our minimum wage is one of the lowest in the developed world

Our competition is Mexico, China, India, etc. If we insist of free trade with countries like those (and I am not in favor for free trade with anyone except Canada) then we need to lower or eliminate the minimum wage to match places like Mexico:

http://en.wikipedia.org/wiki/List_of_minimum_wages_by_country
Mexico shows a minimum wage of .61 per hour
India .28 per hour
China 1.19 per hour.
South Korea 4.63 per hour
Hong Kong 3.87 per hour
Spain 5.57 per hour
Greece 5.06 per hour
Russia 1.04 per hour
Poland 2.97 per hour
Portugal 4.19 per hour
Israel 5.99 per hour
Iceland has no minimum wage
Italy has no minimum wage

Seems like really very few countries have a higher minimum wage than the US. Check the facts. Classic case of pricing yourself out of the market, since most of the places with high minimum wages, like France, also have very high unemployment. But then again that's what Obama wants.

RentingForHalfTheCost says

Trashing me because I don't have to get up before the sun?

You have to get up pretty early for school as I recall.

Lesstgage

Robber Baron Elite Scum says

Many rich people wake up even earlier. That's why they are rich. And that's why you are on a online forum for the past 5 years making up bullshit.

Is 7AM considered early?

But,but, this won't prevent Chinese money from helping us stop the decline...

Waiting for the next comment. "The zerohedge guy is an idiot"

Bubbles always burst. This description of bubbles explains a lot about what is going on in all kinds of markets including housing.

http://www.globaldeflationnews.com/anatomy-of-a-bubble-how-the-federal-reserve-and-the-u-s-congress-have-created-a-debt-crisis-of-historic-proportion/

I have no idea how the writer of this article decided the last paragraph connects with the ones preceding.

jojo says

I'm not sure what you mean. The people who would drive the housing market (first time buyers) don't have enough savings, income or credit to even qualify for a house if they wanted one.

Doesn't matter if loan qualification requirements are relaxed enough. You know, until someone making 15K per year picking lettuce can buy a 500K home in CA.

Yeah-- a big disconnect twixt the main text of the article and the "buy now or be forever priced out" hoo hah of the last paragraph. Maybe an imp from the NAR hacked it...

bgamall4 says

Janet Yellen says the Fed can't regulate it, but wants congress to regulate it, and then the Fed will tell congress how to do that. I am telling you, they want a NWO worldwide currency!!

I just don't see how a worldwide currency will work. It doesn't even work in EU, much less the world would be chaos.

But the prices in 2014 will shoot through the roof!

Call it Crazy says

Roberto isn't here anymore....

But, his henchmen are still around!

bgamall4 says

It may not be bitcoin, but it is a digital currency of some sort. Or it could be bit coin. Point is, they want to take money from your deposits, and digital currency can only be spent or left in the bank, the cashless society.

Do you want to decorate your house with your cash? What's the problem with a cashless society out of interest? It's fast becoming one without a single currency. It's convenient, is it not?

bgamall4 says

Or Bigsby, are you too stupid to understand the concept of negative interest rates?

And what has that got to do with a cashless society?

bgamall4 says

It is convenient for the banksters to take your money since you can't get it out of the bank. Your position proves you are a paid Zionist.

If there's a run on the bank, you probably can't get it out anyway, but yeah, you have a point. Still, most money is basically digital anyway.

It's actually funny that you see a stampede for a 'one world currency' everywhere you look while the world is clearly moving away from that. Out of interest, are you not perplexed by the fact your self-proclaimed HOME OF ZIONISM decided not to adopt the euro?

bgamall4 says

Ah, but if the Euro was a digital currency, the UK may change its tune.

Do you actually know why the UK didn't join the euro?

bgamall4 says

Bigsby says

If there's a run on the bank, you probably can't get it out anyway, but yeah, you have a point.

You can't have a run on the bank because there is no cash.

People can and do have multiple bank accounts. And if all the people of one bank seek to transfer all their money to an alternative bank that would constitute a run on the bank, would it not?

bgamall4 says

Everything. If you can't get your cash out, they can collect the interest. If you had the choice of taking your cash out you would not pay a damn bank to keep your cash. You would buy a safe!

People have the choice of taking out their money now and in the US they pay the bank to handle their current accounts, don't they? And without interest on those accounts.

I can't tell which comments are sarcastic and which are real. Maybe in addition to "Like" and "Dislike" flags we need "Sarcastic" and "Genuine".

bgamall4 says

Janet Yellen says the Fed can't regulate it, but wants congress to regulate it, and then the Fed will tell congress how to do that. I am telling you, they want a NWO worldwide currency!!

Think so too, it's not that they can't, it's that they don't want to.

Hey bgamall got you a little rhyme, since it's Dr. Seuss birthday based on Fox in Sox.

Here is a new trick Mr. Gox.
Bits to dolts and bits for bucks.

Call it Crazy says

How about these states???

Is Rockford a state? When did that happen?

bgamall4 says

But if both banks had negative interest rates it wouldn't matter much. You still pay the banking system for the privilege to leave your money with them. So the other bank needs a bailout, so what? Usually a big run on banks is because the entire banking system is in jeopardy because of failure of interbank lending.

That's a completely different issue. If you leave your money in the bank (as people do whilst getting charged for current accounts), then that is your choice. If you don't like it, put your money to use elsewhere.

The news today is reporting that Mt. Gox has "lost" bitcoins numbering six figures, belonging to both them and their clients.

How do bitcoins get "lost?" What does this do to the advancement of virtual currencies in general?

It would help if you copied the title of the chart so we know what we're looking at. Is it median price, zillow home value, etc?

bgamall4 says

Ah, so you have to take on risk and put it to use. Sorry, they can crash those markets too, Bigsby. Now I think you are a Zionist again. Only banksters think like that.

You're a conspiracy nut. I'd have thought you'd love to put it into gold bars and stuff them under your mattress. And what do you think people have been doing with their savings since interest rates went into freefall? What do you imagine they'd do if those rates went negative?

bubblesitter says

This year is starting out exactly like last year. When are you and your buddy going to get tired of being wrong?

Keep your band wagon moving, with all your graphs. Reality on the ground is different cuz I see em in the redfin listings in my area, and in the open houses, offers are drying up, listings are repeatedly coming back on market after going into pending.....can't hide the truth behind your graphs...go check it out yourself....outside of Concord.

Call it Crazy says

Sorry dude, but you're wrong again. The chart was sales, not estimates. Plus, it's their one year chart, I didn't cut anything off.. Run their one year sales not estimate chart and prove me wrong.

You cut off the title of the graph, dude.