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Why do people deny the existence of housing bubbles?


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2005 Jul 16, 10:29am   12,187 views  83 comments

by Peter P   ➕follow (2)   💰tip   ignore  

Some people deny that housing bubbles exist. Some even suggest that the recent appreciation is sustainable.

Are the consequences too scary to fathom? Are they just blinded by greed and fear? Do they even have the right information?

#housing

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33   SQT15   2005 Jul 16, 12:34pm  

(Would you like to be called “Ms. SAUCE”, Astrid? Hmmmmmmmmm?)

Now Jack. That's just uncalled for.

34   SQT15   2005 Jul 16, 12:42pm  

I think we've all run into Marinara type people in our personal lives, and it's hard not to wish people like that get burned when there is a reckoning. But, by and large, the people out there buying homes these last couple of years are just being taken advantage of by unscrupulous lenders pushing NAAVLP's, and no one wishes them HARM. I am very uncomfortable with the idea of a massive crash that could really hurt the economy. If I could wish for anything it would be a correction that forces lenders to tighten their standards so that people who don't know what they are doing don't get in over their heads anymore.

35   Peter P   2005 Jul 16, 12:43pm  

Ahh, life as a homeowner with 300K in liquid assets, and a nice SFH in The Marina is so wonderful.

You are not going get us jealous. You may try but you will fail.

I admire Soros/Buffett and am perheps jealous of someone who owns a Gulfstream G550. From your comments, I guess that you still fly commercial. Work at it. :)

36   SQT15   2005 Jul 16, 12:44pm  

Rented Lol.

37   Peter P   2005 Jul 16, 12:45pm  

You were not directing the language worries at me were you?

Not at all. Language is actually a non-issue. We do need some f???-words flying around occasionally or this will be too PG-13, right?

38   SQT15   2005 Jul 16, 12:45pm  

Jack
It's nice to know you're not a fixer-upper.

39   Peter P   2005 Jul 16, 12:49pm  

Actually though Peter, I NEVER stop being amazed at your INCREDIBLY unshakable patience. Are you that way all the time? or is it something you developed professionally, and you are just faking it!

What do you expect me to do? I lose patience only when I am waiting for food.

40   SQT15   2005 Jul 16, 12:52pm  

Peter P Says:

What do you expect me to do? I lose patience only when I am waiting for food.

You sound just like my 19 month old son. Come to think of it, so does Marinara, but my son is more articulate.

41   SQT15   2005 Jul 16, 12:53pm  

Not more articulate than you Peter. ;)

42   SQT15   2005 Jul 16, 1:16pm  

Never, Never feed the trolls. Baiting ok.

43   SQT15   2005 Jul 16, 1:17pm  

If you feed them, they keep coming back.

44   SQT15   2005 Jul 16, 1:20pm  

Blah Blah Blah, Yadda Yadda Yadda. Nothing new to say...
Uh Oh. I'm giving negative attention. Bad QT. I'm feeding the beast.

45   SQT15   2005 Jul 16, 1:21pm  

Jack

In some way's I'm always on your side. I certainly respect you.

46   SQT15   2005 Jul 16, 1:40pm  

I didn't know it was going to be fairy tale night on the blog. I wish I had known, I could've asked HARM for pointers and everything. Damn.

47   SQT15   2005 Jul 16, 1:46pm  

I NEVER NEVER believe braggarts. If Marinara is God's gift at 28, why's he here with all us "losers" on a Saturday night. Where are all the women panting to get their hands on his "prime real estate?"

48   SQT15   2005 Jul 16, 1:49pm  

And no, no matter what answer Marinara gives to that question, I won't buy it either. No credibility.

49   SQT15   2005 Jul 16, 1:57pm  

I guess he'll have to rent a good night's sleep.

50   SQT15   2005 Jul 16, 2:08pm  

Night Astrid

Fun having you along tonight.

51   SQT15   2005 Jul 16, 2:09pm  

I thought ALWAYS ON TRANSMIT was TWIT.

52   SQT15   2005 Jul 16, 2:11pm  

Jack
Only one beer. You're probably a couple of six packs behind Marinara. Have I been feeding the Trolls? All that negative attention, I know. I should know better.

53   SQT15   2005 Jul 16, 2:15pm  

Jack
I hear ya. Fog obscures everything. Even one's thinking apparently.

54   SQT15   2005 Jul 16, 2:23pm  

AC on all day. Still hotter than hades.

You know, I never thought I'd say this. But I'm really looking forward to Surfer-X's response to tonights blog. It should be really interesting.

55   SQT15   2005 Jul 16, 2:24pm  

Astrid was right, things have slowed down a bit. Did TWIT check out too?

56   praetorian   2005 Jul 16, 2:25pm  

Just an observation: the notion that someone who writes at the level that MP does can own a home at 28 without massive parental (and possibly governmental) intervention is, like, preposterous or something.

And I say this as a 28 year old. Seriously.

Like, Oh My Gah, Cheers,
prat

57   SQT15   2005 Jul 16, 2:28pm  

Prat
I've been saying all night that mummy and daddy must be involved. So far no rebuttals to that effect. But would anyone believe Marinara anyway?

58   SQT15   2005 Jul 16, 2:29pm  

That is, if one believes there is an iota of truth in Marinara's ravings, the only explaination is mummy and daddy.

59   SQT15   2005 Jul 16, 2:30pm  

I LOVE Surfer-X’s posts!

I'm learning to appreciate the finer points of Surfer-X's rants.

60   SQT15   2005 Jul 16, 2:33pm  

I am sitting here, hoping that HARM is working on a new fable to include the dearly deluded Marinara. If not, I'll have to brush off my story telling technique, but I think I could do it as well. I mean, what do I cast him as? Pinocchio?

61   SQT15   2005 Jul 16, 2:35pm  

I remember a really terriffic reply you had to one of Surfer-X's rants that went a tad too far. I really thought you had a good grasp of how to speak his *language*. ;)

62   SQT15   2005 Jul 16, 2:36pm  

Oops. I meant to say I DON"T think I could do the story as well as HARM.

63   SQT15   2005 Jul 16, 2:37pm  

Not sure at all. But the ego seems to be male. I mean women definately don't have the need to compensate that men sometimes do. And boy, is this guy (I thinkk) compensating for something.

64   SQT15   2005 Jul 16, 2:42pm  

Outside of school, I’m a totally unhealthy recluse!

I'm so surprised. (really) You seem like a people person to me.

65   SQT15   2005 Jul 16, 2:44pm  

Jack
Do you think we should hang it up for the night. We seem to be way off topic and I'm not sure anyone else is around. It's fun talking to you, but this is a slow way to do it.

66   praetorian   2005 Jul 16, 2:44pm  

"But would anyone believe Marinara anyway?"

Yeah. Particularly in this thread, the writing has become so absurdly poor that it simply becomes implausible.

In any event, g'night. Golf tomorrow.

_mr burns voice_: excellent

Cheers,
prat

67   SQT15   2005 Jul 16, 2:47pm  

As surfer-X would say. Bazzzactly.

68   SQT15   2005 Jul 16, 2:50pm  

Night Jack.

69   Peter P   2005 Jul 16, 4:40pm  

I don't know. Marinara has quite a bit of free time for an investment banker... oh well. Need another thread again.

70   Peter P   2005 Jul 16, 4:45pm  

You can disagree with me all you want. You can’t be all bad if you actually LIKE exposed concrete, metal and glass!

My wife wants a normal house though. We may need to do half and half. :)

Imagine a house that looks like a craftman from the northern elevation and a post-modern blob of concrete and steel from the southern elevation... interesting, no?

71   SQT15   2005 Jul 16, 4:52pm  

I just cruised craigslist, I like to look and see what the rental market is doing. It seems like there are a lot of condo's appearing for rent these days. Naturally the rents being asked for are rather high, as the speculator/owners have obviously paid too much. I wonder how long they'll be able to hold out before they have to start dropping rents.

72   Peter P   2005 Jul 16, 5:09pm  

I wonder how long they’ll be able to hold out before they have to start dropping rents.

Not very long. A few months at most. :)

It is a weird market because the fundamental demand of housing (as consumption) is not very strong.

SactoQt, have you tried housingmaps.com?

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