Nigel is at it again. He is trying to backpedal on his incredibly stupid comments about populationand housing demand. I left a comment that was polite and topical. Thus there is little doubt it will be censored. If it is censored Nigel will have used up any good will he may have had. Nigel is a frequent visitor to our Exurban Nation. Surely he understands that his opinions are subject to scrutiny.
Friday, February 23, 2007
Brace, brace, brace
Nigel is at it again. He is trying to backpedal on his incredibly stupid comments about populationand housing demand. I left a comment that was polite and topical. Thus there is little doubt it will be censored. If it is censored Nigel will have used up any good will he may have had. Nigel is a frequent visitor to our Exurban Nation. Surely he understands that his opinions are subject to scrutiny.
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21 comments:
Nigel is a skeevy cocktart.
And FIRST, motherfuckers!!
T, you're saucy tonight! ;)
I don't know what it is exactly, but I find Nigel the most intriguing personality in the Casey saga. He's like the guy that put up the blog defending Novastar mortgage. BTW, those Novastar clowns look to have taken the Enron blueprint and run with it. I wonder if they might be this bubble's Enron. Fear not, those who have their money on CFC and WaMu, there's probably a Worldcom in this bubble, too.
Anyway, about Nigel, I am constantly amazed by his stamina to leave no shot unanswered, even if the answer is obfuscated by selective reading of the offending remark. What's his motivation? The firm belief that the only bad press is no press? Some MLM model that I am unfamiliar with? Maybe it's just Kaczinski-like determination to mold the world to his beliefs. Anyway, he's my favorite character in this mess. The only ones even close in my book are those Arizona ballbreaker chicks, but they seem to have rolled over pretty easy.
Nigel Sucks.
I think Nigel's Dreaaaamy.
Nigel is only interesting in that although plenty of people have attempted to align their business interests with the Casey saga, most quickly realize that Looser Boy is not a rising star, but rather something radioactive undergoing rapid decay. But in Nigel's world, there's only the shiny object whose he wants to bask in, obvious to any obvious toxicity.
The only thing remarkable about Nigel is that he might possibly be a more useless tool than Casey.
-walt526
Nigel is drinking the same reality altering Kool-Aid that Casey is chugging. They see what they want to see. SerCasey quote:
"I failed, so what? It’s not really a failure if I choose to not look at it that way. Its really an opportunity to learn. Controlling what I believe is a very important process of becoming successful."
It might as well be Nigel saying the same thing when he says his charts and spreadsheets show population growth and housing costs "mirroring" each other. He is insane. His own spreadsheet shows this:
1996
Median Price $108,798
US Population 262 million
2006
Median Price $215,343
US Population 300 Million
Rounding the numbers for expediency, that is a 14.5% increase in population and a 99% increase in the median cost of housing.
I pointed that out in an earlier thread here and he still continues to insist they mirror each other. What kind of whackjob do you have to be to say that 14.5% rise is the same as a 99% rise? This doesn't even take into account the real frothy bubble markets of AZ, FL & CA. If you focused exclusively on them it would be astronomical differences. Population is a driver, sure, but not the main factor.
Oh, and I saw that the California Department of Technology Services was snooping around IAFF today. Hopefully giving a little logistical support to some state Law Enforcement agency.
It's late in the 3rd quarter of Casey's blitzkrieg borrowing bonanza game and he's got 2 foreclosures coming monday. This promises, at the end of it all, to be a drubbing of epic proportions!
That Second Great Depression article (link via previous EN post) and comments added to my general sense that things are really out of order around here and it makes it difficult to enjoy Friday night.
If the supposed U.S. leadership creates yet another war in Iran, I'm definitely moving to Ireland.
I am so f-ing angry about the destruction of this country and I can't f-ing figure out why others aren't as mad.
Watchin' somethin on television I gather…Whatever the case might be, things are reelz fucked up and I think it might be time to wake up and smell the sheet.
Why give Nigel hits? That's exactly what he wants. He's an a-hole who should be ignored. Like the news - let's just go ahead and ignore the situation in Iran, Iraq, Israel and focus on the dead body of some stupid bitch no one seems to remember until she's dead and her stinky corpse is causing a problem. Sure, let's continue to focus on BS like that while Rome burns. Fantastic. Great job. This fuckin sucks existing on this f-ed up planet.
On Monday it appears foreclosure auction bidding will open at $216,000 for the Larchmont property.
Muncy has no opening bid, so maybe it will go, or maybe not.
Not counting fees/penalties, the 1st mortgage for Larchmont is $264K per Casey. At $219K, the 1st (Countrywide) is getting a $45K haircut for this loan. Don't forget the $66K 2nd mortgage.
Once this foreclosure auction goes through the lenders finally have a tangible loss to go after Casey for.
This should get interesting starting Monday.
@ Akubi - I agree 100% on every point you've made. Nigel is an a-hole. We all know he trolls here and posts all the anonymous harassment of certain posters here and Rob. His blog stinks and he is also a hypocrite.
Well to be fair 007, price is decided at the margin or some such. A 10% spike in the demand for oil produces far more than a 10% spike in the price. So it's not inconceivable that a 14% increase in demand could produce a 99% increase in price.
That said, it would depend on the supply of houses having remained the same. And the US has pretty much done nothing but build new housing stock for the past five years (well it's also held literally millions of those insipid media events which is about the only thing that corporate America can do with any aplomb these days, but I digress) so Nige's idea that it makes sense, pretty much makes no sense.
All time high vacancy rates or something.
Has nobody noticed that Casey was bragging about his moderation help not three days ago?? Looks like he did something to ruin that as well. "My moderation guy is busy."
Just like your realtors. They're all busy too. And anyone who you ever thought you could make sweet deals with. Seems they're busy also. Do you find that Galina is busy when you want to have sex with her also?
Are you getting the picture?
You're poison Casey.
Hey at least the banks aren't too busy to auction off your properties. And you better believe their lawyers won't be too busy to run you through the mill.
@Anon
You said:
"Well to be fair 007, price is decided at the margin or some such. A 10% spike in the demand for oil produces far more than a 10% spike in the price. So it's not inconceivable that a 14% increase in demand could produce a 99% increase in price."
Which is sort of my point, that housing is seen as a commodity (like oil) more than it ever has been before in the US. It's being driven by speculation through historically low interest rates, sub prime loans and the ability to repackage the debt and sell it overseas. The first shoe has fallen and sub primes are now blowing apart. No way this bubble even gets close to happening if interest rates remained above 5% and liar loans with nothing down weren't in play. It was completely manufactured the Fed, Bankers, Mortgage Industry and Wall Street.
I do agree that pricing spikes can be attributed "at the margin" as you put it. All it takes is for something to be perceived as scarce for it to be driven up in price. The perception change for this bubble was wholely artificial. Why else would there be such a surplus of inventory? And that inventory is about to get a lot bigger, when all the foreclosures hit, and the wave of people that held off selling in the latter part of '06 bring their houses on the market in the spring of '07.
@ T (#1 comment)
ROFLMAO!
@Akubi
It's like that annoying little bumper sticker "If you're not angry, you're not paying attention."
Stephanie,
Yes, even annoying bumper stickers can have some kernel of truth.
I've noticed this odd Serinesque phenomenon that seems to occur when one is regularly bombarded by bad news. Like Casey’s boundless optimism in the face of financial disaster and potential prison time, there is a tendency in the American public to simply ignore or become desensitized to unpleasant news and instead focus on some inane pastime and/or go shopping. Not that there is anything wrong with an inane pastime (in fact, in moderation it can be quite healthy), but when it becomes one’s entire life like our li’l anti-hero, I find it disturbing.
Nigel is the World's Worst Troll,
Thanks for agreeing with me 100%. That rarely happens;).
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