patrick.net

Once again, Simcha - you're wrong. Incorrect. Not right. Rayray referred to our "little messiah." I do believe that he was talking about Homer Simpson.

RayAmerica says

Just keep on drinking your Kool-Aid and everything will work out for you.

I'm proud to say that I drink koolaid:

Frog In A Blender
Drink Type: Cocktail - F
Ingredients
3 oz. Orange Drink - (more Orange Drink drinks)
2 oz. Kool-Aid Berry Blue - (more Kool-Aid drinks)
1 1/2 oz. Spiced Rum - (more Spiced Rum drinks)

Instructions
Stir and serve in a highball glass over ice. Decorate with a slice of orange.

In fact, there are 54 bar drinks that contain koolaid. I shall start to do my research tonight, care to join me?

http://www.barnonedrinks.com/drinks/by_ingredient/k/kool-aid-603.html

elliemae says

I’m proud to say that I drink koolaid:

Frog In A Blender
Drink Type: Cocktail - F

Ellie May, I pictured you as a little older. Are you a college student, in a sorority ? Or maybe a "little sister" to some frat boys ? (btw, I was never in a frat, but visited enough to know a lot about them).

I recentlly celebrated the 28th anniversary of my 21st birthday... I just figured that, since I've been accused of drinking the obama koolaid, I might as well try it. I haven't had any in the house since the kids were little.

elliemae says

I recentlly celebrated the 28th anniversary of my 21st birthday… I just figured that, since I’ve been accused of drinking the obama koolaid, I might as well try it. I haven’t had any in the house since the kids were little.

Dang, you're older than me. Who knew?
elliemae says

In fact, there are 54 bar drinks that contain koolaid. I shall start to do my research tonight, care to join me?

Well, if I've gotta drink Kool-Aid, I definitely want it with alcohol in it. So, sure, I'll join ya. Maybe we could find the Obama Kool-Aid cocktail that Rayray is talking about. It might be tasty.

simchaland says

Dang, you’re older than me. Who knew?

There's dirt in my yard that's younger than I am, but I'm cool with that.

.simchaland says

Maybe we could find the Obama Kool-Aid cocktail that Rayray is talking about. It might be tasty.

Someone needs to invent Obama koolaid, I'll bet it tastes great for 8 years, but that rayray would find it hard to swallow.

I stumbled across this rather old, but somewhat, brilliant (I’m forced to admit it) post regarding Obama’s broken promises. It seems rather apropos to post it again.

RayAmerica says:

NAFTA has been a disastrous trade agreement that has decimated the American worker. Barak Obama the Candidate promised to make “renegotiating NAFTA as a top priority.” Obama the President stated within the first several months that he had no intention of reworking NAFTA. Obama the Candidate promised to “never sign any bill that contained earmarks.” This promise has been broken as well. Obama the Candidate promised to “balance the budget in my first term.” He is on pace to outspend all other presidents combined. This is looking more and more like business as usual from just another politician. So much for hope & change.

RayAmerica says

NAFTA has been a disastrous trade agreement that has decimated the American worker. Barak Obama the Candidate promised to make “renegotiating NAFTA as a top priority.” Obama the President stated within the first several months that he had no intention of reworking NAFTA. Obama the Candidate promised to “never sign any bill that contained earmarks.” This promise has been broken as well. Obama the Candidate promised to “balance the budget in my first term.” He is on pace to outspend all other presidents combined. This is looking more and more like business as usual from just another politician. So much for hope & change.

Brilliant! Thanks for posting it.

did you forget to change your identity before patting yourself on the back?

tatupu70 says

did you forget to change your identity before patting yourself on the back?

I'm willing to bet he has many identities. One of them may even be human, but he hasn't shown that one yet.

a spear to the heart, with a bow on the staff, does not make it a present.

tatupu70 says

did you forget to change your identity before patting yourself on the back?

Nope. He think the post made by him is so great, and he thought it's even better after drinking the koolaid cocktail presented by ellie. :)

elliemae says

I’m willing to bet he has many identities. One of them may even be human, but he hasn’t shown that one yet.

And one of them might be, let me guess, Brad Pitt? :)

Obama Koolaid would be sweet then it will change and get sour.
Hope this helps.

Bush flavored Koolaid would be pop rocks and soda.
Hope that clears things up.

Nomo, I want to invest in Abengoa, S.A., a technology company.

I want to do so in a medium-safe manner. Not full gamble, but not full safe either. Just medium.

Would you (or some other savy poster) mind tossing out some input, please?

Nomograph says

Stoned and stupid is no way to go through life, son.

But I'll bet it's loads of fun.

Bap33 says

a spear to the heart, with a bow on the staff, does not make it a present.

Sure it does. Perhaps not a present that the average person would want, but rayray is well below average.

I should have used "gift" instead? Anyways, you know what I was trying to say. lol

Yea, it works both ways. :)

There is something going on behind the scenes no doubt to benefit the banks. This is not the free market at work.

>>The number of new homes on the market dropped 1.4 percent to 210,000 units, the lowest level since September 1968.

This is a very misleading number. What is the number of UNSOLD new houses, as opposed to "on-the-market" new houses?
Shadow inventory, as Nomo said.

>>Last month’s surge in sales saw the supply of new homes available for sale dropping to 7.6 months’ worth from 9.6 months worth in May.

Apparently, 7.6 months of unsold inventory is NOT a 42-year low. Well, imagine that. Someone in the press is highlighting the sensational statistic but not the other one.

justme says

You can count on the Mish blog to have a good analysis of new data, and here it is:

If by good, you actually mean extremely biased--then I'll agree with you.

tatupu70 says

justme says

You can count on the Mish blog to have a good analysis of new data, and here it is:

If by good, you actually mean extremely biased–then I’ll agree with you.

Correction, the article was from Calculated Risk, not Mish blog. Mish can be biased, especially against public unions, which seem to bug him severely. CR is very analytic and data-driven and calls the shots well, in my opinion.

Keep watching and thinking and talking about housing it's called fighting the last war... Move on ..

tatupu70 says

You guys crack me up. If anyone has the unmitigated gall to think that housing may be finished correcting, you accuse him of being: realtor, troll, Lawrence Yun, etc.

That's because the freefall in prices stopped right when the tax credit was activated. Either you can see the correlation and determine that it's too early to say the market bottomed or you're a realtard.

tatupu70 says

It’s OK to poke holes in his logic, but in my experience, people who are unwilling to listen to opposing viewpoints are usually incorrect….

I listen to his viewpoints, and notice that he does his best to not acknowledge those of others'.

His point about the inventory would have merit in a universe where things such as the tax credit, shadow inventory, and record-low interest rates didn't exist.

"You guys crack me up. If anyone has the unmitigated gall to think that housing may be finished correcting, you accuse him of being: realtor, troll, Lawrence Yun, etc. "

+1

klarek says

That’s because the freefall in prices stopped right when the tax credit was activated. Either you can see the correlation and determine that it’s too early to say the market bottomed or you’re a realtard.

Of course. That was the point of the credit. How does that mean that prices will fall from here out though?

klarek says

His point about the inventory would have merit in a universe where things such as the tax credit, shadow inventory, and record-low interest rates didn’t exist.

The credit is over. I've been hearing about shadow inventory for 2 years now. It's like the boogeyman that housing bears keep hidden in their closet. Why wouldn't banks have put this shadow inventory on the market over the last year while the credit was out there and prices were rising? And how do low interest rates factor in the equation at all?? Low inventory doesn't mean prices may rise in the future because rates are low?? Huh?

joshuatrio says

Get over it. You’re on a housing crash board.

So, that means I must think that housing will decline forever then? At some point the crash will end and prices will appreciate again. You realize that, right?

This is a crash board?? I thought it was... I never have bought and I never will buy a house forum :)

Ptipking222 says

On the Internet, it’s everyone’s God given right to make snarky, anonymous comments and accuse others of being Lawrence Yun.

Good point. I do enjoy snarky. Just make sure you bring the funny too at least.

I think the predictions of a housing shortage could come true. Everyone including the building industry was bracing for a great depression that didn't happen.

Inventory at all time lows just means now is a terrible time to buy! It's like going to a department store after a seasonal sale and picking from scraps. The trick is knowing that another seasonal sale is going to come along soon enough.. maybe a year from now and you'll have a much wider selection at better prices.

It just depends on if you believe the economy in CA is going to improve soon.. If you do.. then maybe housing isn't a bad investment. I fall in the category of someone that doesn't see improvement in the CA economy.. outside say the film and tech industries... Jobs are scarce.

I have first hand knowledge that an attorney in Pasadena got 200+ applications for a $14 an hour paralegal job.. He had attorneys and ivy league grads applying... people willingly to commute from Orange County. For a crappy no-benefit, no advancement paralegal job.... theres INTENSE competition.

How many well paid paralegals do you think bought over-priced homes in CA during the housing boom that artificially raised prices... Those 75K a year middle class CA jobs aren't coming back anytime soon....

That's what propped up housing... if you had two middle class workers makeing $75k then could stretch and afford a $500K home... Those jobs at those pay rates are all dried up.

Someone do a search for me and prove me wrong...

I doubt we'll see early 2009 prices again. I was shopping back then nobody and would touch housing. That was the time to buy.
Now it's different. Everyone on the sidelines just waiting to pounce.

tatupu70 says

OK–fair enough. I don’t think I’ll cheer anytime soon, but I will continue to point out when you’re wrong…

Whatever gets you off.

Numbers Numbers Numbers,
There's a new number for a new data point every day, sometimes on the hour.

Home Sales are UP = Absolutely true, the number of homes sold are up, Yes.
Average Listing price = down YOY and WOW
Average sales price =Down YOY and WOW
Average price persqft = Down YOY and WOW

Look at what is moving, and for how much, and not only that but how.
Cash only deals for those privileged enough to be aware that said property was even for sale, available or on the market otherwise.
The stock is being pillaged and plundered so successfully, even the house Dems want to kill Fanny and Fred.

Welcome to the Land baron age.

toothfairy says

I doubt we’ll see early 2009 prices again.

I doubt it as well; Prices won't go that high again for many, many years.

Next leg down coming to a Bay Area near you.

Housing is going down. Nobody's got any jobs. I'll refinance again when we get 1.9%.

E-man says

toothfairy says

I doubt we’ll see early 2009 prices again. I was shopping back then nobody and would touch housing. That was the time to buy.

Now it’s different. Everyone on the sidelines just waiting to pounce.

Well, better be safe than sorry. I’m getting a little defensive and preparing for the worse. So I say, bring it on.

What's in store that would turn the market for the worse? Looks like things are mostly getting better from where I sit.

pkowen I know what you're saying. Remember when realtors said "buy now or be priced out forever"?

Maybe there was some truth to that. Only "now" was more like 1995.

toothfairy says

pkowen I know what you’re saying. Remember when realtors said “buy now or be priced out forever”?
Maybe there was some truth to that. Only “now” was more like 1995.

Do you really believe the rubbish you type? Bottom in 2009? Really? I really can't see how anyone could honestly believe that.

I own outright and I very much expect the "value" to go down quite a bit more. I'm perfectly fine with that, I guess I'm just not your typical greedy BA homeowner.

CrazyMan says

toothfairy says

pkowen I know what you’re saying. Remember when realtors said “buy now or be priced out forever”?
Maybe there was some truth to that. Only “now” was more like 1995.

Do you really believe the rubbish you type? Bottom in 2009? Really? I really can’t see how anyone could honestly believe that.
I own outright and I very much expect the “value” to go down quite a bit more. I’m perfectly fine with that, I guess I’m just not your typical greedy BA homeowner.

What's your logic of holding if you are confident that it is going to go down quite a bit more? Personal attachment?

pkowen;

I completely agree with you. I live in the Peninsula too and have been looking at houses for the last year; just studying the market on the Peninsula.

500k will get you a termite infested property that needs about 50k in repairs or a house on the East side of El Camino.

I just cannot fathom how these houses cost 720k still for a decent place.

Even if the Peninsula has "hit the bottom" I don't believe these houses have the value they are selling for right now. If the market goes up on the Peninsula so be it; I don't think its worth 3/4 of a million dollars for a house here.

mthom says

What’s your logic of holding if you are confident that it is going to go down quite a bit more? Personal attachment?

It's long paid off and my property tax is pocket change (it was purchased by my dad in the early 60's).

The idea is that anyone in my family will always have a home available to them. My sister currently lives there, she just pays the tax and insurance, as her and I have very different financial situations.

My family is just more important to me than a little bit of money.