Nigel has post ad nauseum on why he thinks it's different this time.
Some sources argue there are very specific reasons home ownership in the United States has increased over the years. Some cite interest rates, while others cite lending standards. After looking over the ownership percentages from 1965 to the present, I don’t know if there is a singular answer.
That's because you aren't looking at the data against trend.
In 1962, 62.9% of Americans were homeowners. Today, that percentage is 68.5%. But since our population is constantly growing, those raw numbers represent more than a 5.6% change, they represent a 68.14% increase.
No, they represent a 5.6% change. The reason for using percentages is a math thing. Using percentages allows you to discover changes in trend. The 68% increase is one of those second derivative mathy thingies that tells you something is terribly wrong not getting better.
...
Consider the time period from 1978 to 1983 when the 30 year average rate skyrocketed.
Year 1978 1979 1980 1981 1982 1983
Ownership % 64.8 64.8 65.5 65.6 64.8 64.7
Interest Rate 9.64 11.2 13.74 16.63 16.04 13.24
While interest rates increased, the percentage of homeowners remained flat or increased.
Hey dummy, 1978 with 64.8% ownership versus 1983 and 64.7% is a freakin' decline! It also was during a period of unusually high numbers entering homeownership age. What happened to your raw numbers this time? Huh? More people without homes and increasing.
...
In the next section of this series, I’ll discuss how the Internet age has contributed to creating a completely unique economic landscape.
You do that Nigel. Perhaps you can add a sidebar about this post violating your copyrights. Snigger.
19 comments:
Nigel"
In the next section of this series, I’ll discuss how the Internet age has contributed to creating a completely unique economic landscape."
Goddamn I hate this guy. So now he is using the old "It's a new economy" from way back in the dot con days. What a jerk. Yeah Nigel, because of the internet, when real estate goes down, everybody in the US and World hears about it much much faster. Guess what that means? Less greater fools to continue to buy overpriced properties. Sides Casey and company of course.
I got one question for the little weasel..how many investment properties do you currently own or are looking to purchase within the next 6 months?
Prick. I swear how anyone can take him and his POS blog seriously is beyond me. Good thing is we will have his blog archived when he tries to change it to make it look like he knew it was gonna tank.
Has he cleared the photos on his blog? Just wonderin'.
Rob Dawg,
The Interwebs make a great place to voice criticism. But blog etiquette says if you do gratuitously quote from someone else's source material, you link back. You do remember this from writing term papers don't you? It's the same concept.
We'll help you out here. Original source. Do be careful, next time we'll have to issue a ticket.
What makes a "looser" like Nigel (and his ilk) so insufferable is not that they misrepresent/misinterpret data, but rather that they aren't the least bit creative with the formation of their arguments. Say what you will about the integrity of David Lereah (chief economist of the US National Association of Realtors), at least the guy makes some halfway intelligent presentation of the various data to support his disingenuous claims. For the past two years, most of the time the guy's make specious claims, but at least his methodology is sound (usually he just tends to focus on less important data that happens to superficially support his prognostications).
Nigel, on the other hands, is not only full of shit, but he doesn't even know how to cherry pick the data to support his preconceived views, let alone attempt to digest them in a scientifically sound manner. Lereah's a very smart guy without much integrity; Nigel so plainly has neither.
Dolph,
I thought Caseyland USA was quite entertaining. Will you be bringing it back online? Perhaps I’m accustomed to enraged, dysfunctional alcoholics, but I think we’re making too much out of Tim's ranting and it isn’t worth taking very seriously.
Blog Etiquette Police said...
The Interwebs make a great place to voice criticism. But blog etiquette says if you do gratuitously quote from someone else's source material, you link back.
Well, yes, usually but Nigel is a special case. Remember he's posted here in the past with misleading links. Links that went to his blog but looked like media publications. I made it clear that the italics were Nigel's and here that's enough to establish origin. I'd certainly be more careful with a more respectable source but remember part of this is to establish that Nigel is neither source nor respectable.
Remember he's posted here in the past with misleading links. Links that went to his blog but looked like media publications.
Where did he do this?
Oh gawd, I'm a library now am I?
Well Rob,
If you're going to accuse people of things, it would be nice if you actually provided evidence. Otherwise it's just a false accusation. (Whisper::It makes you look bad.)
@Blog Ettiquite Police = the Real NIGEL
You did it here on this blog when you unsuccessfully argued that Casey had
no obligation to inform the lender that he had sold their collateral.
I may be smarmy but you SUCK.
Nigel - I will repeat my previous comments. In your attempts to appear clever and informed ... you fail miserably. If you have any self-respect, you might want to lurk here but continue trolling elsewhere.
Gee, I don't think Nigel likes me, I don't think Nigel likes you either Rob Dawg.
However, Nigel never responds to me, why is that?
Rob et al,
I never figured out who was technically right in your spat with Nigel regarding the informing the buyer issue. What was the net of it.
On a side note how was the 68% derived? that confuses me. Did he take the increase in population mulitipy it by the increase in ownership and divide it by the old population? 68% is a big number to get...
the blog etiquette police sounds just like Nigel would, condescending and irritating at the same time.
Like Rob said, what, he has to prove it to you now? You the po po, find it yourself you lazy bastage.
@michaelcampion
I'll tell you how he came up with those figures; pretty much the same way he comes up with his site visit numbers and ("the thousands of visitors to his blog" ha ha ha ha ha), add a little optimism here, multiply by 'wish'for good measure, then pull it out of his ass.
Why engage the looser? Let's focus on wasteful expenditures instead.
Akubi:
I may restart it. It won't be the same site as I'd most likely do what IANFF does with text and some pictures (ones contributed by users from the public domain such as Casey in prison).
My problem is and remains time. I love coming here and hanging with you guys. When not doing that I am submerged in work and other endeavors.
I have a friend who is researching some stuff for a documentary he has started work on. I have given him bullet points of stuff to pursue. He said he would.
I will say Casey was #1 on that list.
That picture makes me say "arrr may-tee". Isn't National Talk Like a Pirate Day in February?
Of course, you know what language pirate's speak?
Greek.
Well, at least the type of pirates one meets in prison!
I just finished HELOCing the castle so I can make a bid on Casey's house in New Mexico.
Ancient Greece would be a much more manageable and preferable situation.
how about a scathing expose on chris record & novoriche 'edu'
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