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Global warming and the housing bubble


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2006 Jun 30, 4:02am   17,505 views  167 comments

by Peter P   ➕follow (2)   💰tip   ignore  

The inconvenient truth about human greed, its consequences, and possible remedies.

Is Global Warming real?
Does the Housing Bubble exist?
Is there a Santa Claus?

The truth will set you free (or not).

#housing

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146   Randy H   2006 Jul 3, 1:15am  

Dissenter: One with a viewpoint, perspective, opinion or theory which is either opposed to or incompatible with those of the majority.

Troll: An anarchist who seeks to light flame wars for merely for the pleasure of watching them burn.

When someone enters a blog on pet kittens and argues that declawing is indeed a good and justifiable thing to do, they are a dissenter.

When someone enters a blog on pet kittens and proposes that only losers have kittens and winners have puppies, they are a Troll.

147   HARM   2006 Jul 3, 1:38am  

@don’t i have to download STUFF and install it for thread management. then think of something to post, hmm…

DS,

You're only half right --no downloads. Wordpress is 100% web-managed, no downloads or installs required. Once you're registerd & ready, let myself, Randy H, SQT or Peter P know and any of us can promote you to author.

148   Different Sean   2006 Jul 3, 1:39am  

this was a conference held last year on affordable housing:

http://www.housing.nsw.gov.au/nahc/Program/index.htm

One guest speaker was:

Carol Galante
CEO, Bridge Housing Corporation, California
Lessons from the USA for Australia.

Bridge Housing's experience as a not for profit developer and manager of affordable housing – what it takes and what we've learnt.

149   Different Sean   2006 Jul 3, 1:44am  

here's a link to one of Carol Galante's presentations (Powerpoint presentation, 6 Mb unfortunately):

http://www.housing.nsw.gov.au/nahc/presentations/Carol%20Galante%201.pps

can anyone confirm if the structures used in her presentation are actual affordable housing developments in CA? they look pretty swanky and posh, more like upmarket developments...

150   Red Whine   2006 Jul 3, 1:49am  

Randy-

Those definitions look great on paper, but it seems like ANY housing bull that posts here or on Ben's board gets ends up wearing the "troll" hat.

151   Red Whine   2006 Jul 3, 1:54am  

In fact, I even like the ones that post tiresome posts like "all of you JBRs are just afraid to jump in -- you just have to buy what you can afford and never look back" -- I think these types of posters allow us to keep our fingers on the pulse of the masses.

I see properties still selling and I'm so puzzled as to who could POSSIBLY be buying at the tail end of the mother of all RE bull runs/speculative manias, and I love to hear from these people.

Sure, X scares them off pretty quickly, but's nice hearing from them.

152   HARM   2006 Jul 3, 2:09am  

I see properties still selling and I’m so puzzled as to who could POSSIBLY be buying at the tail end of the mother of all RE bull runs/speculative manias

Mostly clueless bag-holders: http://post.polls.yahoo.com/quiz/financeresults.php?qm=1&poll_id=5486&user_choice=4&Submit=Submit

153   Different Sean   2006 Jul 3, 2:13am  

Once you’re registered & ready, let myself, Randy H, SQT or Peter P know and any of us can promote you to author.

oops, I thought I'd registered aeons ago. hoo hoo, those screens don't look familiar, better late than never...

done.

could've changed my nick, it's only to differentiate from another earlier sean who hasn't appeared for a while...

what now?

154   Different Sean   2006 Jul 3, 2:21am  

different... but sexy as hell because of it...

155   Different Sean   2006 Jul 3, 2:40am  

yeah, it's a bit dicey... [sigh] some of us have greatness thrust upon us...

shouldn't i swear some pledge to uphold the honour of the court of sir patrick and go forth and vanquish evil in the form of trolls, realtors, hook-nosed witches (sorry, i already said realtors), etc

not saying i'm actually gonna post anything, mind...

156   Red Whine   2006 Jul 3, 2:42am  

HARM:

77%. Yikes. Watching public sentiment on housing turn is like watching an ocean liner doing a u-turn. People are getting antsy and nasty. Here we are with stalled sales and rising inventories and the MSM news sites have only shifted their focus from "Real Estate - The New Gospel" to "Where to Invest in Real Estate in a Slowing Market". The only sources saying "Run for the Exits" are the same ones that have been shouting this for four years now. At some point, the MSM will stop referring specuvestores to Boise and Dallas, and start hinting at the fact that other asset classes still exist.

157   Different Sean   2006 Jul 3, 2:45am  

i won't faff it up, i promise... hmm, what's that button do???

158   skibum   2006 Jul 3, 3:01am  

LILLL Says:

July 3rd, 2006 at 9:41 am
Good link….
http://www.dailynews.com/business/ci_4002928

Interesting link - the lagging indicator that is the MSM are starting to change their tune, for sure.

OT, but I have one major complaint about on line news articles. Why do they always write in one-sentence paragraphs? Isn't that bad grammar? Do these "journalists" all learn from the same "internet journalism 101" textbook?

159   Different Sean   2006 Jul 3, 3:07am  

hey, economists predicted 9 of the last 3 recessions! that's not a bad strike rate...

on the creation of jobs question, etc, how about this? (i always felt the Treasurer was gloating about 'soaring economic growth' based solely on the aggregated GDP which was really due to empty internal housing inflation in the economy -- when the boom turned, the GDP figures nosedived, so he had nothing more to brag about and went a bit quiet. altho he knew all along what was causing it, just pretended it meant productivity increases or something for the gullible press)

After the House Price Boom: Is this the end of the Australian dream?

The house price bubble has finally burst. Average house prices more than doubled between 1996 and 2004, but according to one source, Sydney prices fell back by 15% during 2004, with Melbourne 11% down.[2]

While it lasted, the boom added substantially to the wealth of existing home owners, but it has made home ownership more expensive for aspiring new buyers. In its aftermath, three questions arise. First, who financed the capital gains that home owners have enjoyed? Second, has home ownership become unaffordable for the younger generation? And third, what, if anything, should the government be doing to help young families get onto the home ownership ladder?

[...]

160   Different Sean   2006 Jul 3, 3:20am  

SQT, one other trick for embedding URLs are the
a href = "URL address" text /a
tags, where you can substitute the original title of the story, and/or source name, or some abbreviation of it, in normal English, and embed the URL between the double quotes. I've left out the > Housing Market Slides on Coast - and Greater Bay Area - The Half Moon Bay Review

hope that worked...

161   Different Sean   2006 Jul 3, 3:25am  

try again... told you those marks wreak havoc...

Housing Market Slides on Coast - and Greater Bay Area - The Half Moon Bay Review

you need to reference the full HTML syntax, i cheat sometimes by pressing the blogger button on a page and copying the result. the last post got mangled because i used the greater than and less than signs a bit earlier for pedagogical reasons, which interacts with other embedded HTML :(

162   HARM   2006 Jul 3, 3:35am  

@Different Sean,

Welcome to the blog-authoring world! I look forward to seeing some really creative inflammatory anti-American rhetoric from you in the near future! :-)

Btw, thanks to you I've learned a new term: spruiker. In American that's "con man, swindler, hustler, scammer, shyster, sharpie", etc.

163   Different Sean   2006 Jul 3, 3:50am  

Btw, thanks to you I’ve learned a new term: spruiker. In American that’s “con man, swindler, hustler, scammer, shyster, sharpie”, etc.

c'mon, they're gurus

I look forward to seeing some really creative inflammatory anti-American rhetoric from you in the near future!

hmm, i might touch lightly on one or two relatively minor things in passing...

164   Different Sean   2006 Jul 3, 4:05am  

speaking of spruikers:

"AMERICAN SPRUIKER IN AUSTRALIA"

"ROBERT G ALLEN - A LI/\R AND A TH|EF"

'nother trans-pacific connection... albeit a hustler... i'm scared to quote jenman's title allegations except in Leet...

165   Red Whine   2006 Jul 3, 5:57am  

ahhh peter,
The "party of tolerance" speaks.

166   HARM   2006 Jul 3, 7:32am  

@tannenbaum,

Good points on CA net outmigration vs. housing supply. Another thing to consider is how much of the state's 300,000 net annual population growth (almost entirely due immigrantion, mostly illegal, as well as children born to immigrants) is really "in the market" for housing in the conventional sense. Despite the fact that many of the banks are now pitching NAAVLPs to illegals, it's not as if a high % of these people are lining up to buy right now. A big problem in lot of marginal neighborhoods right now is overcrowding, where you have 5-10 people per bedroom. This is how your typical day laborer "affords" a house or rental unit in SoCal --I see this all the time, first-hand.

167   HARM   2006 Jul 3, 8:18am  

But that’s SoCal. I’m not convince that SF Bay Area has the same illegal/undocumented problem that SoCal does - or at least to the same scope.

In prime areas in & around the Peninsula, perhaps not. Though, I bet there's plenty of this going on in the outer burbs/East Bay --and especially in the Central Valley.

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