patrick.net

I still think we’ll see the biggest decline in the RE market when the IO and ARM loans start adjusting en masse

Yes.... Dean Baker described this as a ticking time bomb......tick....tick....tick. :)

That $459K condo that is out on the market will be worth $1 mil in 5 years. Mark my words!

Good luck, man. More power to you.
Just imagine a future where dynamic people like you have all become powerful real estate tycoons and everyone else just works to increase the tycoons' wealth. It sounds like heaven.

And since you opened my eyes about the simplicity of it all - either make big bucks, refinance or walk away - I must now go and contact my dead real estate agent.

The fact of the matter is that there is always a buyer in California. Simple supply and demand.

Not bitter, lobsters are really great with watercress and white truffle oil. But mayo is not bad either. I do not know why people keep insisting on dawn butter, which ruins the texture of lobster meat IMO.

Not bitter, I see that you are in San Jose State Univ. If you did not have dinner yet, you should consider going to The Grill in Fairmont. They have a really nice Lobster Martini. Ignore the caviar on top though.

I’ve also noticed a trend among troll like posters to use a sort of revolving IP address, I assume so that the posts cannot be blocked. If you keep posting it would be interesting to see what your IP address looks like, it would be confirmation of troll status if it keeps changing. We’ll see.

Troll meat is best with extra virgin olive oil. Eat with white Japanese onion and raw garlic.

What goes into a Lobster Martini?

Celery root. Lobster meat. Mayo. Lime juice. Yum!

I was depressed yesterday but the Lobster Martini turned me around.

That $459K condo that is out on the market will be worth $1 mil in 5 years. Mark my words!

The $10-a-pound lobster will be $1000 a pound in 5 years. Mark my words.

OMG! We better stockpile lobsters and put them in our bathtubs!

I’d keep the caviar though, might be tasty with troll meat.

Troll meat is too gamey for me. I rather eat vegetarians. :)

I don’t know, vegetarians tend to taste like soy…….

Vegans taste like soy. Vegetarians taste like... I forgot.

That $459K condo that is out on the market will be worth $1 mil in 5 years. Mark my words!

I do hope that the condo is only an investment. Who wants to walk near a $459K condo in San Jose?

I know I know. Soy tastes like whatever you add to it. But it’s so much work.

Soy is very close to meat in terms of the protein composition.

I once asked a vegetarian whether he would eat cultivated meat, if there is such a think. He gave me a very long hesitation...

I guess it depends on the exact definition of “cultivated meat.” I ate a lot of soy when I was in Japan, but I can’t say I came to love it. I’d rather eat sushi.

Where in Japan did you go to school? I forgot. Was it the Tokyo region or the Osaka region?

I am going to Osaka later this month. I can almost smell the seafood now...

I guess it depends on the exact definition of “cultivated meat.” I ate a lot of soy when I was in Japan, but I can’t say I came to love it. I’d rather eat sushi.

I am imagine that cells can be taken from Prime(tm) cattles and cultivated into meat tissues in labs. This way, we can guarantee the quality of the meat and no slaughtering will be needed.

With this techniques, we can solve world hunger... perhaps.

...although the elimination of world hunger will create other problems...

Have you been before? I always liked the street vendors, very interesting and generally good food.

I was there about 20 years ago.

BTW, how are you feeling?

I am about 90% healed but am still coughing day and night.

New thread: Trolls

It’s the cough that’s the worst isn’t it? I’m feeling a bit better. Still stuffy, sniffly and coughing…but at least I’m better than I was few days ago.

Perhaps troll meat has medicinal value?

Ha Ha Ha Ha Ha ……..

Ho Ho Ho Ho Ho.....

The market is crashing, HALLELUJAH.

Thanks a lot Michael! :)

You have confirmed my "fear".

I hope that the admin here has provisions for making sure that these blog comments will remain here and be searchable for years to come!

We sure will. :)

not bitter says, "If you can’t afford to buy a house, simply state that you are incapable of buying a house"

First, the *only* reason your house appreciated is because our fed made certain that the next buyer, followed by the next, followed by the next *could* afford to buy it. Therefore, if it should ever happen that one day we really can not afford to buy your shit box that will be the day you can kiss your paper profit goodbye.

Second, what you fail to understand is that the more liquidity the fed pumps into the market so your house can continue to appreciate, the less your house will be worth in real terms in the long run. If you were smart, you’d sell your investment real estate, and put the profit in some inflation protected investment.

"...there is always a buyer in California"

No, only up to a price. And unless interest rates reverse or everyone gets a salary raise, we may be at or near that price limit.

"That $459K condo that is out on the market will be worth $1 mil in 5 years. Mark my words!"

Just wishful thinking on your part. I'm sure that you are not even convinced of that; otherwise you wouldn't be a reader of this blog "for years".

Just check out Michael's comment... the credit spigot is being turned off slowly.

Reflexivity. Boom and bust. We will see soon enough.

Opinions please. Sell now at a sell fast price. Or wait til spring, to see if the market is going to pick up a tad.

We cannot give investment advice... but if the market does not pick up significantly, market participants will see that as a major confirmation of bubble bust. There will be a lot of desperate sellers.

It is up to you whether you want to take the chance.