Haterz™ win - Snowflake throws in the murse
2007 May 31, 4:11am 23,671 views 118 comments
by HARM follow (0)
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The OFHEO released its House Price Index(HPI) for Q1 2007 this morning.
Here are some Bay Area lowlights for those of you who don't want to sift through the report.
Quarterly appreciation for Metropolitan Statistical Areas and Divisions:
San Francisco-San Mateo-Redwood City, CA (MSAD) 0.35
San Jose-Sunnyvale-Santa Clara, CA -0.77
Oakland-Fremont-Hayward, CA (MSAD) -1.08
And some other lowlights:
Sacramento-Arden-Arcade-Roseville, CA -1.99
Modesto, CA -3.37
Merced, CA -2.91
Stockton, CA -2.62
Santa Cruz-Watsonville, CA -0.88
San Diego-Carlsbad-San Marcos, CA -1.12
15. How does the HPI differ from the S&P/Case-Shiller® Home Price indexes?
Although both indexes employ the same fundamental repeat-valuations approach, there are a number of data and methodology differences. Among the dissimilarities:
a. The S&P/Case-Shiller indexes only use purchase prices in index calibration, while the all-transactions HPI also includes refinance appraisals. OFHEO’s purchaseonly series is restricted to purchase prices, as are the S&P/Case-Shiller indexes.
b. OFHEO’s valuation data are derived from conforming, conventional mortgages provided by Fannie Mae and Freddie Mac My comment: conforming loans limited to $417,000. The S&P/Case-Shiller indexes use information obtained from county assessor and recorder offices.
c. The S&P/Case-Shiller indexes are value-weighted, meaning that price trends for more expensive homes have greater influence on estimated price changes than other homes. OFHEO’s index weights price trends equally for all properties.
d. The geographic coverage of the indexes differs. The S&P/Case-Shiller National Home Price Index, for example, does not have valuation data from 13 states. OFHEO’s U.S. Index is calculated using data from all states.
For a moment there, I thought Casey was handling fire arms.
Good riddance. If he took the "haterz" advice and quite in the first few weeks of the blog, he could have saved his reputation, probably go into bankruptcy and emerge with a relatively clean slate.
Nigel Swaby just posted about IAFF's shutdown at his DHC site. Claims Casey sent him an email explaining it was due to him violating the "contract" with wifey:
"(kind of like the local furniture store that's perpetually 'going out of business')" LOL!
That pretty much sums up the whole downside of the bubble to date!
That's it! The FINAL Weekend of D.R Horton's 100K Off Promotion!
(Yeah, until next weekend!)
Right along with "calling bottoms" in consecutive months, quarters .... I remember the other @ssclowns but who was the "cupcake lady"?
Yeah and the Woodhulls. They're a couple of horses asses too aren't they? 9 re-fi's in 9 years. Not a record, but very respectable.
So they bought their place in DC for $254,000 in 1998 (but they think it's worth SIX TIMES that now?) Rally? So over 1.5 mil. If they owe 1/2 that I guess they're feeling pretty smug. They were able to deplete over $500,000 in tax free money to buy even MORE investment properties! Now they owe THREE times what they originally paid not to mention the other properties they're racking up bills on! Nothing like being your own GF now is there?
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*(Update - 06/12/2007): On June 6th, Snowflake brought the blog back (surprise, surprise!), with a vague and unspecified claim of having been "forced" to bring it back. A couple of days later Casey explained it was due to him violating his (very real and legal) contracts with his publisher and/or advertisers by shutting the site down. And just recently he has apparently fled the country to mooch off some fans in Australia. Oops, sorry, he's not "mooching", he's trying to "focus on getting the foreclosure book done and get a lot of other stuff done in a distraction-free environment" --all at OTHER PEOPLE'S EXPENSE and without his wife's approval, of course. I guess I'm one of those "Idiot Haterz" that keep misrepresentin' the facts about the Murseman.
As of this morning, IamFacingForeclosure.com has ceased operation*.
Galina finally had enough? The Feds or local D.A. (finally) caught up to him? Another cheap publicity stunt to attract a few more clicks (kind of like the local furniture store that's perpetually 'going out of business')? Who knows, but for now it seems to be 'lights out' for Mr. Manbag.
So now that everyone's favorite media whore and Flipper Nation poster boy has gone and pulled the plug, who will fill his shoes and sit proudly astride the blue ball of passive debt accumulation? Who will compete for the attention of Exurbannation readers? Some possible contenders:
1. SDCIA Jeff
2. Cindy Schwanke ("cupcake lady")
3. The Woodhulls
4. Dead FL homeless "flipper"
Discuss, enjoy...
HARM
#housing