patrick.net

Blurtman says

Banks shouldn't lend to a public that cannot pay back the loans.

the buyer were the ones who overbid and wanted to overpay...

they are the party who overpriced homes... why would they

wrongly believe a typical 200K home was actually worth paying

500-600K...

wave9x says

On The SF Peninsula, add in record low inventories. It is absolutely insane to see a city of 100k (San Mateo) with only 15 SFHs for sale. Low supply = higher prices. Not to mention rents are insanely high (again, in desirable areas) so the rent vs buy ratios are still good for buying.

pocket listing are now 25% of inventory sold.. so there is 33% additional unlisted inventory (MLSlisting) available in No Calif. Clearly this is having a problem ! Who know how deep the problem may go in places like San Mateo... could be half are unlisted...

California Association Warns About 'Pocket Listings' | Realtor ...
realtormag.realtor.org › News & Commentary › Daily News‎
Jun 27, 2013 - About 1-in-4 home sales are reportedly pocket listings in some Northern California markets, and the California Association of REALTORS

Pocket Listings webinar recording and slides - California ...
www.car.org › Newsstand > › News >‎
Pocket Listings webinar recording and slides ... In case you missed it, C.A.R. recently hosted its first Hot Topics webinar, “The Pressing Issue of Pocket Listings. ... gain a clear understanding of how pocket listings are affecting REALTORS

wave9x says

Also, the GDP is on fire right now (over 4% growth). If that holds, the economy continues to improve, and unemployment continues to drop, that will also drive house prices (and inflation in general) higher.

we are nowhere near 4% or even 3%....at best only half of that at 2%....

Fed officials do see economic growth and the labor market gathering more strength next year, though the forecast is little changed from September. U.S. gross domestic product is expected to advance between 2.8% to 3.2% in 2014, versus September’s projection of 2.9% to 3.1% growth. The unemployment rate is now expected to average between 6.3% and 6.6% during the fourth quarter of the year, compared with an earlier range of 6.4% and 6.8%.

The policymakers say the economy will grow between 2.2% and 2.3% for all of 2013. Through the first three quarters of 2013, the economy has grown at a 2.4% annual rate. Private forecasting firm Macroeconomic Advisers said the economy should nearly maintain that pace in the fourth quarter

http://blogs.wsj.com/economics/2013/12/18/fed-projections-see-no-rate-increase-until-2015/

bgamall4 says

I believe this article is accurate.

This is the first sentence of a blog post that bgamall calls an "article."

It is time to call out the scumbags who historically have been mostly responsible for promoting gun control legislation in what have been obvious attempts to destroy the Second Amendment.

I mean honestly, wtf ?

We knew how stupid you are. And we knew that the emotional /pschological problems run strong with you. But Jesus !

Is it going to keep getting worse until the holidays are over ?

Do you ever have a redeeming moment when you say,..."wow, I really am fucked in the head." Ever ??

Once the ACA finishes kicking in, will you please consider looking in to medication ?

bgamall4 says

HydroCabron says

Gun control advocates are a truly rare occurrence!

Gun control advocates that are Zionists are very prevalent. http://ronabbass.wordpress.com/2013/05/13/its-mainly-zionist-jews-pushing-for-gun-control-in-the-usa/

I believe this article is accurate. And I believe that it is as the Jewish hero Shahak has said, once the Zionists subdue the middle east they will be coming after America.

I was blind, but now I see.

I had thought that these people were trying to minimize the incidence of people putting holes in other people in schools, movie theaters, offices, and homes.

Turns out the whole thing is on behalf of the State of Israel.

Bellingham Bill says

NOT with adequate maintenance, especially in California's mild climate.

(Tokyo and Houston are different stories)

by they go out of style, and newer homes are better.

Nope! Location, Location, Location still rules. All the best locations were platted before I was born.

The new in-fill homes in Sunnyvale are total crap compared to the older stock that's as old as me. A house is largely concrete, sticks and bricks, the insides can be updated for pennies a month, more or less.

Here's a house built in 1950 totally refurbd:

http://www.redfin.com/CA/Salinas/229-San-Miguel-Ave-93901/home/14955872

And there are some cars still around from the 1950's as well, that have been refurbished and are running like new. So would you advocate that we all invest in a parking lot full of cars?

thomaswong.1986 says

we are nowhere near 4% or even 3%....at best only half of that at 2%....

Incorrect. That last report I saw showed GDP for the latest quarter being revised upward to 4.1%. Interest rates are headed higher.

bullshitmagnet says

Incorrect. That last report I saw showed GDP for the latest quarter being revised upward to 4.1%. Interest rates are headed higher.

That's 4.1 annualized. That means the economy grew 1.025% for that quarter. It does not mean that it grew at that rate Q1, Q2, or will in Q4.

One of the reasons why higher interest rates may not be making as much impact in coastal California is that many qualified buyers are switching to 5 year arms. The rates on those are practically the same as 30 year fixed mortgages were at the lowest.

I think this is a point that SFAce was arguing quite a bit and he is probably right on this.

On the other hand, places like Vegas and Phoenix are impacted more as there are more institutional investors for whom the rates make a much bigger difference.

bgamall4 says

So, above, we have a website link, and a video saying that you must hyperventilate like Robbie Parker did to fake a cry. The middle video says don't force crying or you will be shown to be a fake!

How much more proof does anyone need that Robbie Parker was a phony and Sandy Hook was a hoax?

Okay, on to ignore with you, you fucking pathetic little turd.

So you just find out the guys last name and now you know that he is a Zionist worm, working with dark forces, every thought is malevolent, he cares not for this world. Worse still, he's gay.

Call it Crazy says

Hmmmm, I guess that blows the "rates don't matter" argument.... There's a one
point spread between the 30 year and 5/1 ARM...

They can't afford the current house prices or payments with a standard, 30
year loan, so they are moving to more "creative" ways to purchase...

What's next, the return of sub-prime or NINJA???

Wasn't that one of the main problems that contributed to the previous bubble.............incomes could not afford 30 year loans so other creative loans were originated to fool the eye.

Why don't we have 1 year ARM loans starting at 1%, then the payments are really affordable.

Yinon zionism or YINgYang ?

Analyzer says

Wasn't that one of the main problems that contributed to the previous bubble.............incomes could not afford 30 year loans so other creative loans were originated to fool the eye.

No payment till next year would be creative as well, but we all have seen these loans
for many applicance and furniture stores in the prior decade. No one was fooled by it.. it was obvious.

Call it Crazy says

They can't afford the current house prices or payments with a standard, 30 year loan, so they are moving to more "creative" ways to purchase...

What's next, the return of sub-prime or NINJA???

seems that way again.. but of course restamped and reapproved by Govt.. since now the govt controls 90% of the market.

Call it Crazy says

tr6 says

One of the reasons why higher interest rates may not be making as much impact in coastal California is that many qualified buyers are switching to 5 year arms. The rates on those are practically the same as 30 year fixed mortgages were at the lowest.

Hmmmm, I guess that blows the "rates don't matter" argument.... There's a one point spread between the 30 year and 5/1 ARM...

They can't afford the current house prices or payments with a standard, 30 year loan, so they are moving to more "creative" ways to purchase...

What's next, the return of sub-prime or NINJA???

Seems crazy, but the buyers here are vastly more qualified nowadays, no gardeners and housekeepers buying $600,000 3/2 SFRs. Lots of money down and intent to take advantage of short term interest rates as a strategy for managing investment rather than losers trying to buy what they will never be able to actually afford. Lemme tell ya, the losers aren't even getting past the bid process here. Strongest offer of the strongest buyers go into escrow.

thomaswong.1986 says

Call it Crazy says

They can't afford the current house prices or payments with a standard, 30 year loan, so they are moving to more "creative" ways to purchase...

What's next, the return of sub-prime or NINJA???

seems that way again.. but of course restamped and reapproved by Govt.. since now the govt controls 90% of the market.

Lenders have to turn loans to make money, they will find a way.

All religions teach that they are entitled to dominate the world. Mormons say that they will enter caves in the Rockies while God reigns down fiery destruction on the unbelievers, they will emerge to own everything.

Kill, belittle, marginalize or enslave the non-believer, let the unspotted holy own and rule, that's the knee jerk screed of any self respecting religion.

what if there were paranoid delusional rantings and no one bothered to listen.

dtbristol says

Worse still, he's gay.

Worse than that, a gay alien.

Here's how I describe it.

You're sitting on a powder keg in the hold of your ship, and Bugs Bunny just thew a match down there.

One mans plan for world domination? You aren't serious are you? It sounds like something out of a badly written fiction novel.

bgamall4 says

Do you doubt a Holocaust survivor, Einstein?

Is there a particular reason we shouldn't?

bgamall4 says

bob2356 says

Sandy Hook has a population less then 2000 people. How "many" people could have possibly moved there from NYC? Did you want to order a hat?

YOu have to watch the video. The locals were aware of many new people. You wouldn't notice that in a big city but you would notice it in a small town. Bingo, frog brain.

Did I miss it or is there a number in here? Hint "many" isn't a number.

bgamall4 says

Israel Shahak, a Jewish hero from the Holocaust, translated the militant Yinon Zionist plan into English. The plan desires regime change and dominance in the middle east, and Shahak said that these militant Zionist would want to weaken the USA as well. I believe that is being done financially, through liar loans and the crash and by gun control as pro Zionists have been in the gun control format.

Any website that supports this view of the Hoax, but then does not let you post your views about regime change and 9/11, etc, and about the Zionist/Neocon connection, is Republican sponsored and has one agenda, an even faster spread of Zionist power in the world.

I'm curious. Have you actually read the PAPER written by Oded Yinon for that obscure journal because the way you keep talking about it leaves me with the distinct impression that you haven't. It's nothing more than an outdated (pre the break up of the USSR for crying out loud) take on an utterly typical analysis of the various muslim countries and the potential for break-up into their various sectarian parts, something which, amazingly enough, he believed would be beneficial to Israel's security.

How exactly that has morphed into what your mind takes it as is probably grounds for a paper in itself. To be published in the Journal of Clinical Psychiatry no doubt.

And if you don't believe this guy, then you're just a "twit" and an "assclown", as he describes it.

marco says

And if you don't believe this guy, then you're just a "twit" and an "assclown", as he describes it.

He may be and say a lot of things, but he's also made far better calls than most on here. I'd certainly take his advice over Mr. 9/11controlleddemolition/SandyHookhoax any day of the week.

Has he deleted this exchange from the original thread?

bgamall4 says

Thanks for advertizing my other positions. I see that you saw where I started a new thread that hyperventilation is an acting method to fake a cry without getting bogged down in feelings of past hurt. Turns out that method was used by Robbie Parket and that chick who claims to have lost an older sister.

I hope the people who take your financial advice take note of the sort of 'logic' you use when discussing your conspiracy theories.

Ceffer says

Kill, belittle, marginalize or enslave the non-believer, let the unspotted
holy own and rule, that's the knee jerk screed of any self respecting
religion.

But with the total number of religions world-wide, everybody is a non-believer/atheist to somebody else.

It's the my religion is right and your's isn't conundrum.

bgamall4 says

Of course I read it. I also read Israel Shahak's comments and other writings that show that he viewed the Yinon Plan as dangerous to the Jewish people. Shahak also believed that the cabal would come after the USA as well.

Then why do you make so many outlandish claims for what it 'plans' when it does no such thing?

bgamall4 says

Keep in mind, Bigsby, that the Yinon Plan advocated the attempts are regime change that succeeded or failed in Iraq, Egypt, Syria, Libya, etc. The neocons implemented the plan starting in 2001 when they came to power through Cheney. These neocons wanted a new Pearl Harbor in order to speed entrance into the middle east wars. So, while the Democrats facilitate some Zionist goals, the Republicans implemented the most odious of Zionist goals, Yinon Zionism.

Really? I read it. It merely predicted the likely break up of countries that were/are obviously severely fragmented on sectarian grounds. You conspiracists have simply stretched that basic idea so far that it appears you've completely forgotten what was originally written and created a whole different grand conspiracy involving world domination and (according to you) the hoaxing of the mass murder of children at an elementary school amongst all the rest of the paranoid drivel you post.

thomaswong.1986 says

Ok ... Daffy Duck.. it can, it cant and vice versa !

Funny to watch all the R.E. Shills show up for damage control ....there's a phrase for it coined "Muddy up the waters"

bgamall4 says

I am not giving financial advice. How can you know what the cabal wants to do. If people don't buy, and don't rent, then it can always offer easy money. The cabal is evil and we are screwed no matter what.

Ah, so you are merely a self-proclaimed 'financial expert.' And apparently, a paranoid conspiracist.

All you would have to do if you wanted to change the gun laws would be to "donate" to public officials large sums of cash. That's how politics works. It's how things get done. It's what corporations do when they want laws changed to benefit them. The idea that Sandy Hook was perpetrated to change the gun laws is a bit obscene.

dtbristol says

All you would have to do if you wanted to change the gun laws would be to
"donate" to public officials large sums of cash. That's how politics works.

That's the hilarious part that bgamall won't admit, is that the zionist/Israel-only lobby is very effective without having to resort to inefficient and insane actions to fulfill their agendas.

Want proof, look at all the money(cash), military weapons and equipment, and 'loans'( that all mostly forgiven) that the USA gives to Israel by our politicians.

Why resort to such insane and scripted BS like bg's Sandy Hook scenario when they don't have to? Well, except to get people to involuntarily defend the actions of certain people that they weren't before.

Does anyone seriously believe that the Isrealis wouldn't have just shot the little kids if they really did Sandy Hook?

Option 1: Hire/coerce hundreds of people, all of whom must keep their mouths shut? Risk tremendous public outrage if a small number of them squeal, probably equal in ferocity to the outrage which would descend if you killed the kids.

Option 2: Shoot the kids, then plant Lanza's body. At most 10 people know, with as few as 2-3 operatives on the ground.

Hmm. Which of these makes more sense?

Reality says

Do you think any bum should be able to homestead on your lawn? or the patch of woods giving you privacy from your neighbor?

Simply limit people to 5 properties per household, of any kind, anywhere. Corporations may only own property they use, or better yet, can only lease. Corporations cannot be formed to hold or rent real estate; LLPs are okay but the limits apply to each and every member (ie Joe and Jack buy an office building, it counts as 1 property for both individuals).

Problem solved.

"Help, my freedom is being infringed. I only have one primary residence, a summer home, a beach house, and two rental condos! Yet, I also want to buy 100 acres of pine forest in Oregon and a shopping plaza but can't because I reached my limit. This is SOCIALISM!!!!"

Analyzer says

Why don't we have 1 year ARM loans starting at 1%, then the payments are really affordable.

This is exactly the trap Denmark has fallen into.

"The mortgage industry says it’s proving difficult to shift borrowers back into longer-term loans, even though households can now fix into rates as low as 3 percent over 30 years. Rates on one-year bonds are well below 1 percent."

http://www.bloomberg.com/news/2013-12-15/mortgage-banks-in-denmark-told-to-review-risk-as-new-law-debated.html

"In brief: household debt in Denmark is at 310% of GDP, a world record"

:facepalm: