patrick.net

Call it Crazy says

If delinquencies reach an uncomfortable level, we may see lenders pull back again.

Why one has to worry about lender pullback when plenty of cash money is in play? If delinquency rises, those troubled mortgages will simply be gobbled up by "all cash" investors. I have been following this blog for years and simply underestimated power of cash rich investors.

bubblesitter says

This time it will tech bust in SV. SFBA will be the epicenter of next collapse.

What makes you think this? All market and sales projections I see are looking like a good year for tech (smart phones, tablets, and a new growing online advertising industry).

Rew says

What makes you think this? All market and sales projections I see are looking like a good year for tech (smart phones, tablets, and a new growing online advertising industry).

Well, no one was expecting the dotcom burst.

NewRenter said: A reset would DROP the payments for anyone who hasn't refi'd since then.
I don't disagree; this has actually been a nice "silent stimulus" for a lot of folks. Extend and pretend for some. But let's not forget this piece of wisdom from Tanta via CR: Some have a 10-year IO period, meaning they reset annually between years 5-10 but do not recast until year 10. If the rate resets to a higher rate in that period, the required IO payment increases, but not as much as it will when the recast hits and principal must also be repaid on a 20-year schedule.

FWIW I read mild recession 2nd half of this year.

bubblesitter says

Well, no one was expecting the dotcom burst.

Except for people who asked about profits...

WOW! The UNtrustworthy are certainly in control of what information is apparent to the people!

Say hey! This was in the Wall Street Journal on March 30, 1999. Note "... how much it will buy."

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 Friday, April 11, 2014 __ Level is 102.0

WOW! It is hideous that this is hidden! Is there any such "Homes, Inflation Adjusted"? Yes! This was in the New York Times on August 27, 2006:

And up to date (by me) is here:
http://patrick.net/?p=1219038&c=999083#comment-999083

WOW! The UNtrustworthy are certainly in control of what information is apparent to the people!

And "ThePublic Be Suckered"
http://patrick.net/?p=1230886

indigenous said: FWIW I read mild recession 2nd half of this year.
Why? Are the Repulicans going to go through with another one of their hostage taking exercises this fall? Nothing like a GOP induced mini-recession.
But seriously -- stimulus hangover? Is that where you're coming from?

bgamall4 says

They were pets of Wall Street. Don't you think the Street was in on it?

Only if that's where the printing press was.

As far as being in on "IT", hey it's Wall Street, that's what they do, is sell companies value in the form of an advertorial image, if they can make money of something, they'll call it the best performing stocks of all time.

EBGuy says

Why?

These guys are looking at the rate of change of yoy and 1/4 yoy. They also look at bond rates, the business cycle, and demographics .

http://itreconomics.com/blog/closer-look-at-job-numbers

the bulls from a few years ago? they are probably too busy swimming in their money.

She was sacrificed now so as to lessen the damage in November.

We're saying the same thing I think.
Basically this administration has pockets deep enough to make dog stocks smoke.

EBGuy says

Off topic.....
Does EB stand for early bronco?
Just curious.

Seems like the genesis a flowchart!

I thought the new business model for realtors was to use models to keep the client's dick doing all the thinking and thus get him to buy overcrap stuff.

http://www.youtube.com/embed/Uhe5yj2oF-E

Writhing, gushing lesbian couples are so exploited. Shouldn't they unionize and get a share of the commission?

Can you dip the cookies in their tumescent parts?

APOCALYPSEFUCKisShostikovitch says

preferably featuring hot lesbians couples writhing on the living floor while the sellers give out fresh cookies.

Are there any real life hot lesbian couples? Most look like this.

President: The Joker
http://www.youtube.com/embed/MDrTuDrPABk

Vice President: Commander Shepard
http://www.youtube.com/embed/sy-eRfupYbA

Secretary of the Treasury Department: Scrooge McDuck
http://www.youtube.com/embed/NBRrCY5uhWY

Secretary of Justice Department: The Punisher
http://www.youtube.com/embed/lDRqYidDLFw

Chairman of the Comptroller of the Currency:
This old-timey gold panning guy.

Chairman of the SEC: Bane
http://www.youtube.com/embed/dSvUyXrInRc

Fed Reserve Chair:
Midas, you know the king who turned everything he touched into gold. He'll be less inflationary than Greenspan or Bernanke.

APOCALYPSEFUCKisShostikovitch says

Chairman of the Comptroller of the Currency: ApocalyseFuck

Why not APOCALYPSEFUCKisShostikovitch as dictator?

What about the Chair of the State Board of Equalization?

And who will head up efforts to suppress individual responsibility and self-reliance?

Iosef V HydroCabron says

What about the Chair of the State Board of Equalization?

And who will head up efforts to suppress individual responsibility and self-reliance?

Probably gonna be some millenial who mastered the art of individuality by using groupthink of social media apps...

They may be in the business of buying homes themselves. Who knows?

Banks don't have enough capital to buy a bunch of houses. They even lack the capital to hang onto the mortgages, they sell them to become MBS.

Never under estimate the power of commission sales.

There is no reason prices should correlate to demand and ability to pay - that's just a big lie foisted on us by SSRI-addled economists in thrall to Big Pharma and BenghaziCare.

Lower mortgage originations is just a sign that FUCKING LOSERS are now, thankfully, gone from the market, leaving it to higher-class buyers who better appreciate Travertine, designer entertaining spaces, and executive homes.

Anyone needing a mortgage should have been ground up for fertilizer long ago.

Iosef V HydroCabron says

There is no reason prices should correlate to demand and ability to pay - that's just a big lie foisted on us by SSRI-addled economists in thrall to Big Pharma and BenghaziCare.

Lower mortgage originations is just a sign that FUCKING LOSERS are now, thankfully, gone from the market, leaving it to higher-class buyers who better appreciate Travertine, designer entertaining spaces, and executive homes.

Anyone needing a mortgage should have been ground up for fertilizer long ago.

Hell yea sister, preach it.

Republicans are like, so totally stupid too! Its all their fault.

HI FIVE

Awe the Liberals who swear they hate guns, but eventually any band or group who resist Liberal policies are met with a goon squad with enough fire power to put down a country.

I mean you can't have Holders goons mowing down a line of Peach caners and quilt makers, while his Idiot boss, fans the flames about the GOP's war on Women now can we?

Given the body fat level of the average gun nut, I hope those wives and daughters have been pounding the mash potatoes, Cheetos, and bacon, because that's a big target to cover.

This shit happens every year. I pay through the nose in taxes, and they make billions and pay a lot less as share of their income. Some even get refunds for not paying.

Fricken moochers, I guess it's good to be rich. Rich get to write their own laws, the rest of us just get to follow them.

The plan had been to use the COWS as shields. The other protesters heard that and thought that meant the women.

Honest mistake.

Aw, something near & dear to me. You see, I know the Bundys. That's a huge family in my neck of the woods.

Mr Bundy's "supporters" showed up with guns, ready to shoot. They're continuing to provide "security" for the Bundys, even though the govt has no snipers in the hills. But hey, if it keeps them in the news, so be it. They've bought into the drama, but they also got the BLM to release Mr. Bundy's cattle.

The BLM has been telling Mr. Bundy to remove his cattle from the range for 20 years in order to preserve the hallowed hunting grounds of the desert tortoise.

Mr. Bundy hasn't paid his grazing fees for 20 years, so says the BLM. However, the BLM probably isn't willing to accept the payments if he had attempted to make them. The BLM is also attempting to cut the grazing rights of many ranchers in the west:

http://www.thespectrum.com/article/20140414/NEWS01/304140032/Ranchers-loss-cattle-would-hit-county

It's not all cut & dried out here on the range, where there are few structures and ranchers have grazed their cattle for over 100 years.

An example of the definition of "few structures:" A few years ago, it seemed like the whole state of Utah was on fire. The fire blazed through 363,052 acres and burned two structures. Yep - two.

My point is that this seems like such a simple issue for both sides - but the truth is different. The west is being declared off limits by the federal government (they say because of the drought) in an attempt to "manage" the range. The small cattlemen, none of whom are wealthy, are being pushed out of an area that is so rugged there are no homes for miles in any direction. Ranchers help the wildlife - they provide watering stations for their cattle that are also used by local wildlife.

Please remember that the herd of which we are speaking is spread over many miles, so much so that the BLM hired helicopters & planes to help round up the animals.

By the way, Cap'n. You love to claim that libs hate guns. I've made no secret that I'm "liberal," but I also own 3 guns and intend to buy more. I like to go shooting, am pretty good at it. Come over to my house unannounced in the middle of the night and see how my aim is. :)

Mitt Romney didn't win so this is how YOUR BOY, is fucking you over just like you said Mittens would. Obama has you face down in the pillow with your face planted in the playmorman spread of Mitt Romney in his cheese cloth underwear.

You don't know if Obama is cumming or going.

It's the fault of the roman dogs and their lackeys from the biblical times. They set a precedent for this!

True moochers are 18% - http://usatoday30.usatoday.com/news/politics/story/2012/09/18/who-are-the-47/57802074/1

think it has anything to do with not selling many homes?

elliemae says

Come over to my house unannounced in the middle of the night and see how my aim is. :)

Sounds like a certain Craigslist ad.

Call it Crazy says

smaulgld says

think it has anything to do with not selling many homes?

Ya think??

Hello...... You can't sell if you don't build.
It's a horrible situation, with Buyers who lose bidding wars resorting to felonies.

Funny how the article says confidence in the west is down while all I see around here is people paying crazy amounts of money for dilapidated hovels good for nothing more than a date with a torch.

Strategist says

climbed to 47

Yippie! It climbed and the recovery is full force. Ever think of why they always go back and revise the previous month lower. Maybe, just maybe so they can claim it "Climbed". Idiots.