patrick.net

Justme--

OK--those are some serious accusations there. I challenge you to find ANY posts from me that could be construed as hype or where I've ever even said that housing is going to rise or that now is the time to buy. Usually I just post links to AP articles with the latest economic statistics showing that the permabears are wrong.

What I HAVE done is tried to balance out the extreme negative bias of most posters on here with a dose of reality.

I, too, think the bubble should have been avoided and don't want to see another one forming. Although with much tighter lending standards, I think it would be much, much harder for a bubble to inflate nowadays.

Be careful attributing motivation to other people--that's where most conspiracy theorists go off the deep end.

ChrisLosAngeles says

I do know how it works. Banks just like any other business will not pay more than they have to.

Exactly right--it's just supply and demand. If no one gives them money, then they'll raise the savings rates.

Why is it that when someone posts a positive comment about housing, they are doing it with the malicious goal of encouraging people to buy to prop up housing prices, but when people post something about declining prices, they are doing it with pure, good intentions? Couldn't the same thing be said for people who have negative views, that they do it with the motivation to discourage people from buying houses with the hopes that this will cause prices to drop? People who haven't purchased yet have just as much motivation, if not more, to see housing prices move the way they want, as people who have purchased. If prices drop from here, as long as nothing catastrophic happens, I should still be able to pay my mortgage. If prices go up from here, people who couldn't afford or didn't want to pay, still won't be able to afford/pay.

Ah, Captain Fantastic. Nice to see you chime in again with absolutely no clue.

If I'm remembering correctly, the article I posted a link to (not cited) was from Yahoo and just reported on the # of signed contracts. Not median housing prices. I can see how you might get confused because you tend to overlook small details like that.... And Yen wasn't mentioned in my post, nor in the article itself, so not sure where you came up with that one....

Mr.Fantastic says

I kid you not, Tatupu once cited an article quoting Lawrence Yun for why median housing prices were going up. You can’t make this stuff up.

Actually you did...

Mr.Fantastic says

You want to stop playing this game now?

Yes. You're always wrong and it's so easy to show it, it's not even any fun.

Mr.Fantastic says

you used that as justification for why prices would be going up.

No I didn't. I don't recall ever saying prices were going up.

Mr.Fantastic says

The article you cited used direct quotes from Walter Molony who is a spokesperson for NAR’s chief fairy tale teller, Lawrence Yun.

Oh, so now it's Walter Molony? Not Yun? And like I already said in the original thread (I notice you didn't copy this)--I only care about the statistic. I can draw my own conclusions. What Roubini or Molony or Schiff thinks doesn't mean a whole lot to me.

Please stop posting nonsense. Like I said, nobody wants to read it. It adds nothing to the discussion here, but I feel compelled to answer it...

Mr.Fantastic says

Walter Molony is a spokesperson for Lawrence Yun! You used that article as the crux of your argument for why home prices were going to go up.

Like I said--please find ANY post where I've EVER said prices were going up. It should be easy, right?

So, you couldn't find any posts where I said housing was going to go up then?

Seriously--please give it up. Now you're cutting and pasting small fragments of posts to distort their meaning. My lord. This is getting ridiculous.

Listen--you're obviously trolling here. I don't even know what you are trying to say anymore. How about you just give it up?

Mr.Fantastic says

Begging for mercy. I never thought I’d see the day.
Okay, how about this, if the Case Shiller reports a gain for home prices from January 2011 to June 2011, I’ll stop exposing you as the fraud you truly are.

I was just trying to get you to retain whatever dignity you have left. If you want to waste your time posting lies here, be my guest.

btw--I'm still waiting for you to show when i've ever said home price are going to rise. Just one of your many lies...