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Evil Buyers Display Extreme Cruelty to Distressed Sellers
invite response
2007 Apr 17, 5:43am 34,406 views 547 comments
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Anyone watching Asian markets ?
http://finance.yahoo.com/intlindices?e=asia
These things turn on a dime. One day up to sky, another day a sea of red. Fun stuff.
http://finance.yahoo.com/q/bc?s=%5EHSI&t=2y
never underestimate the next guy...
Space Ace,
VCs don't spur the next innovation, people do. I happen to know one of the "next guy", China, inside out. I was an expat there and have lots of connections in China. Most of the highly connected insiders vote by feet by acquiring American passports for the entire family, or sending their kids overseas, and make sure they don't return until they become foreign citizens.
When the worldwide recession hits, a lot of the glamor of these developing countries will just fade away. In the last one and half century, only ONE country in the world made it from the developing camp to the developed camp, Japan. There is a reason why many developing countries remained developing for the last one and half century, and likely will remain so for the next one and half century.
US is not perfect, it is just closer to being perfect than a lot of other countries on earth. For every single criticism you come up about the US, I can cite the same and much more for Japan, China, Australia, etc., places that I know about, but I am just too lazy to elaborate.
Space Ace,
I feel that you should take a job in one of the "next guys" and try it out for yourself before extolling them to the sky. They are not what they seem.
“next guysâ€
Since 1991 I been in startups.. 2 IPOs 1 in registration and moving on to my 4th I hope next month.
:)
Here is something to ponder on...Goodnite...
Silicon Valley leaders to lobby lawmakers
Survey says housing prices, red tape threaten economy
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2005/04/22/BUG41CCUCL1.DTL
The Silicon Valley Leadership Group will warn legislators that high home prices and government red tape top the list of threats to the region's high- tech economy. Members of the organization, formerly called the Silicon Valley Manufacturers Group, include 190 firms that collectively employ 250,000 people in the region.
A recent survey of its members ranked the top five business challenges facing Silicon Valley firms as home prices, business regulations, workers' compensation costs, health care expenses and the cost of worker retention. The results will be discussed at a summit Monday at Adobe Systems in San Jose.
At a time when the high cost of housing, labor and just about everything else are being blamed for driving jobs out of Silicon Valley, the survey said one-third of the companies in the sample exported local jobs in 2004. No figures were put on the losses, nor did the survey specify where those jobs went.
Based on anecdotal reports from members, however, Leadership Group President Carl Guardino said most of them were lost to other states, not other nations. "That means we can compete for them if we make the right public policy choices,'' he said.
Peter P
2007 Apr 18, 3:21pm
The Silicon Valley Leadership Group will warn legislators that high home prices and government red tape top the list of threats to the region’s high- tech economy.
That is obvious.
sfbubblebuyer
2007 Apr 18, 4:43pm
SP,
That is a 'teaser site' to a discount brokerage. The thought is that if you list on MLS for free through them, they can upsell you to use their selling tools and their buyer's agents. (A lot of sellers are also buyers is their thinking.)
So... you list through them, and hopefully use some of their non-free tools, and then when you go to buy you remember what a good deal they were, and use their discount agents.
Loss Leader in online mortgaging? Who'd a thunk?
"Business leaders complain about government regulation and the high cost of labor."
Isn't that a headline from the 1920's? Or just about any other decade? Give me a break.
OO said:
In the last one and half century, only ONE country in the world made it from the developing camp to the developed camp, Japan.
I think Spain counts and Italy too, if you are being honest. There is one thing these three countries have in common: none of them have been colonies, at least not in a very long time. There is something about being subject to the colonial whims of another country that sets a nation back economically.
This is part of the reason I am so optimistic about China: the Chinese are optimistic about China.
Jimbo,
The Chinese are more optimistic out of ignorance than enthusiasm. I'm not optimistic about the people there. People there don't have much work ethic or public spiritedness. For most, it's about the jackpot or the silver bullet that's going to make them rich.
"Isn’t that a headline from the 1920’s? "
What can I say, either you get it or you dont.
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Sadistic, Greedy Buyers Toying with Sellers Like Cats with Prey*
Copyright © 2007 UnReality Times®. All Rights Reserved.
by David Lereah, Leslie Appleton-Young and John Karevoll
As the alleged real estate bear market enters its second year of hitting bottom, some buyers out there are clearly enjoying this one-time market aberration --perhaps a little too much. Is deriving sadistic glee from other peoples' suffering a nice thing to do? The Germans have a word for this: schadenfreude (and we all know what cruelty the Germans are capable of!).
According to Donald Parisi, president of the Realtor Association of the Fox Valley (IL), buyer cruelty is reaching grotesque proportions:
This view is further clarified by Jim Fox, manager of Realty One in Canton, Ohio:
Even more to the point than Mr. Parisi, Florida Realtorâ„¢ Becky Troutt gets right to the heart of the matter:
Now, that's telling 'em like it is, Becky!
While the unbridled greed and glee exhibited by these sadistic buyers (and the American Dreamâ„¢-hating press) are stomach-turning awful, they are not the primary causes of this upside-down market. The real culprit for this most unnatural and unhealthy market condition, is well understood in the industry:
Clearly what's needed here is massive government intervention to protect homeowners and rekindle the normal 20%/year appreciation. This might take the form of a distressed homeowner mortgage buy-down, or federal underwriting for all the kindhearted subprime lenders who generously enabled low-income Americans participate in the American Dreamâ„¢ (often mischaracterized by Gloom'n'Doomers as a "bailout").
To proactively tackle this looming crisis, the NAR and CAR have teamed up with the MBAA (Mortgage Bankers Association of America) to sponsor the Save the American Dreamâ„¢ Act of 2007. Says NAR Chief Economist, David Lereah, "We are urging people to sign our online petition, and write, call, email and beg their Senators and Congresspersons to support this badly needed piece of mercy legislation. Home ownership is as American as apple pie --only you (and Uncle Sam) have the power to save it! Please do your patriotic duty and support the SADA. God bless."
[*Note: while the offset quotes and links are real, this 'article' is a parody]
#housing