Fannie Mae Says Housing Could Stabilize By Year's EndDavid Berson, chief economist at Fannie Mae, talks with Bloomberg's Kathleen Hays about the outlook for the housing industry...audio with partial transcript at Bloomberg. Hat tip to Bloomberg who really seems to be picking up the big story lately.
47 comments:
Hurst
Thurst!
FIRST MURST FOIST MOIST HOIST LIVERWURST
Casey you are in my backyard now trying to run your scams.
I would WARN YOU TO EXERCISE EXTREME CAUTION in your dealings here.
See unlike marty, I am plugged into the local real estate scene here and I have a HUUUUGE ROLODEX of Real Estate Professionals.
And I will NOT hesitate to turn your ass into the Real Estate Commision here, unlike your lame ass Home state Real Estate Commision in California who sit on their thumbs all day, the OREC moves quickly and decisively.
And if your dealings are ever found out, I can guarantee I will assist in any way possible to dig up more dirt on whomever decides to to business with you than has ever been dug up before.
See Casey, I got nothing but time the next month or so and even after that I still got nothing but time from my looser w-2 job. I will be able to go and comb public records, interview work associates, neighbors, and anything else to dig up dirt on who you work with.
SO ANYONE THAT WANTS TO DO BUSINESS WITH CASEY IN PORTLAND..I WOULD ADVISE NOT TOO, BECAUSE I WILL MAKE YOU MY NUMBER 1 GOAL TO BE FRIENDS WITH.
Well, sure they could stabilize... Casey could become rich...
The foreclosure wave has just started... and when I see them come back on the market, they are totally undercutting the FB's wishing prices by about 25% or more..with many months of resets about to happen, how are things going to stabilize that quickly?
pfft.
I'm in Seattle as well. I get one wiff of where he's at, I have plenty of LEO friends who are looking to move up in the world.
Stake out the Jamba Juices and the Real Estate Scaminars.
You'll find him lurking about there.
I swear...that boy's got more complicated troubles than a constipated Bolivian homosexual with the hemmorhoids.
Happy 4th everyone,(you Limeys too!...we created a tax haven for y'all...THAT'S "failing forward!")
I remember Casey vigorously surfing the internet trying to cling on to any bit of 'good news' he could find like this.
I kept telling him that he overleveraged himself, but he would hear none of it.
They're talking up the market (or at least trying to) because they're f*ckin' afraid of losing their shirts.
Everyone who got priced out during the 2002-2006 boom in housing prices wait 18 months and then have your pick during the inevitable firesale.
FROM THE PREVIOUS THREAD
Alcohol Swabbie @ 9:40 AM:
”So Lost Mittens filed his complaint? Did he (i) actually pay the $300 filing fee (buying GSPG stock would likely have been a better investment), or (ii) submit paperwork requesting a waiver of the filing fee because he was too indigent to afford it? What a Looser.”
I find your comment not only disparaging, but framed in a false light context; expressly for no other reason than to diminish my good name. Moreover you’ve been warn about this conduct before, albeit perhaps erroneously believe that because no contact info for you is readily obtainable; you are shielded from redress. I beg to differ.
Therefore, unless a PUBLIC apology is issued forthwith (immediately for them lacking remedial skills) I shall consider you a coconspirator, agent, cooperative and employee of named defendants. Your choice, act accordingly!
No I am not joking, being satirical, or... Bluffing!
~Mark
Casey is in Portland to purchase Antelope, OR and rename it Casenishpurnam
@the dude
god save us!
Does this mean we'll have a commune of unshowered individuals sitting on blue balls waiving at their leader as he drives by in his sweet rims v-dubs?
Will these Caseyfollowers wear murses filled with sweet cash back?
Will they all be early risers with a 4% success rate?
Will they all be attempting to achieve passive income while accomplishing nothing.
And
Will it all come to an end when their leader announces "Free Shots" of wheat grass juice?
I was running some numbers last night on median household income versus median home price for a number of zip codes in the Sacramento area. In line with other estimates, the Sacramento market is overpriced by 35-55%.
From a previous study, I used rental prices to estimate that the average home in Sacramento should sell for about $125/sqft in an average area ($100 in a bad area, $150 in a good area). So a 1750sqft home in a better neighborhood of Elk Grove would be fairly priced at about $262.5k. Based on listings, most wishing prices are still around $350k, with some penetration toward $325k. At its peak, such homes in this area were selling for >$400k.
In other words, the market has already corrected by about 15%, but the prices need to come down an additional 30% from their peaks in order to restore normal ratios to household income and rental rates.
IMHO, there is zero chance that prices stabilize by the end of 2007. Longshot chance by end of 2008. But most likely, ARM resets and concomitant foreclosures force declines well into 2010.
That's code for 12 months.
"Year end" is a slow season, so when things are still slow in Jan 2008, we will be told they are picking up "real soon". Just like this year.
About Casey: I don't have inside info, but I really doubt he is doing any deals (except panhandling for bus fare home). He is just trolling.
You know what would really be the "troll of trolls". If Casey went to the local FBI office, and took pictures of himself standing in front of the building. Oh, you could maybe get an agent to slap cuffs on you for the photo op.
Anyone think that fliptard might have violated paypal rules?
http://www.paypal.com/cgi-bin/webscr?cmd=p/gen/ua/use/index_frame-outside&ed=illegal
Doesn't his site constitute funding illegal activity on his part? Last I remember paypal had a tendency to freeze first and ask questions later.
I'm surprised nobody has gone after his paypal account. That would KILL him.
@ King
What would be funnier is if Feds “trolled” for the pose, than said ‘Opps, not joking’ after the cuffs were on! ;)
~Mark
@ Rob Dawg or anyone,
Speaking of new players. Who is this guy from the last thread?
Just curious and what is Dijo?
Also, just want to say thanks to EN as is raining on my party all day today.
(((((((((((((((()))))))))))))))))
Anonymous said...
OWNED, BONED & DETHRONED
Rob, LossMit, Duane - you put your money where your mouth is.
Count me in as an ex-ex-ex-hater.
James_Marks.
++++++++++++++++++++++
At 9:51 AM, FlyingMonkeyWarrior said...
Is this a pic of you James M. from Australia?
http://tinyurl.com/3cqxcl
Why are you now a supporterz (tm)?
Good grief, I wish the sun would come out and the rain would stop so I could go play at the pool.
Nothin personal Rob.
(:
++++++++++++++++
At 9:53 AM, Anonymous said...
"FlyingMonkeyWarrior dijo...
Is this a pic of you James M. from Australia?"
Imaginary characters from FFC don't really have pics... James Marks is but a figment of my imagination. He doesn't really exist. ;)
At 10:03 AM, FlyingMonkeyWarrior said...
http://tinyurl.com/29r5gf
I just googled James_Mark and he is all over the Internet.
I made a tiny url so you could see for your self.
Duh and you are welcome.
What is the beef?
that 10:01 lossmit posting is not the real lossmit.
it is that super elite hackers skills again that they use to past fake threads.
@CHJTS
LOL, play nice! :)
~Mark
Dear Mark,
We are sorry you may be indigent.
If I gave you cryptic answers regarding Casey, it's only because I do not want to in any shape or form want him to know who I am (at least until July 13).
I can't tell you how I got this, but I have Casey's number in Seattle:
206-339-4969
@ Anon @ 10:38 AM
LOL, now see... THAT”S funny! ;)
~Mark
Casey Insider @ 10:38 AM:
”...I do not want to in any shape or form want him to know who I am (at least until July 13).”
Well, NOT calling you a liar, but… What you THINK may happen on 13 July probably won’t. Lot of stuff in the works (some) I’ll expose shortly, but suffice for now that tactics and DISINFORMATION cut both ways. ;)
~Mark
Hey, can we see a copy of the filing posted up here?
I think a lot of us would love to see what this poor judge is going to have to deal with.
I'll be impressed if this case makes it all the way through without sanctions being issued or getting dismissed.
walt256,
Excellent analysis. I would only add that prices probably cannot hold with rents. At the bottom only people like me will be buying houses and we will be renting them for a premium. I won't have to worry about renters turning inrto buyers diminishing my client base and competing for the best deals. THey won't qualify anymore. That's the real interesting bit. The rent/buy breakeven point is based upon an assumption of current easy lending continuing.
Hey, can we see a copy of the filing posted up here?
No, when the case number goes up on the court docket everyone can see for themselves. Until then the extent of the news is that it is filed.
I think a lot of us would love to see what this poor judge is going to have to deal with.
We pay our judges well and they see scum day in day out. Casey will be a refreshing change in some ways.
I'll be impressed if this case makes it all the way through without sanctions being issued or getting dismissed.
Again, the suit is not the point. Getting certian facts entered and getting some peoples' attention is what is important.
Ho Ho Ho - It's Santa Flipper Clause
OK - Santa's registered.
What should I get Casey, besides coal, for Christmas?
Santa F. Clause
Santa Flipper Clause:
Soap on a Rope?
For prison?
SFC:
A colostomy bag that would match his murse?
(The prison issue ones won't)
A pre-paid set of false teeth?
A gift certificate for a session with Dr. Kevorkian?
(Use it in good health!)
And always the stand-by classic for people in the Hobbit's situation...a carton of Newports
Someone may have told us this already (it's hard to keep up with EN these days), but does anyone know WTF snowflake is doing in Seattle?
At 10:56 AM, Rob Dawg said...
Rob, I think your scenario only applies if we have a multi year decline in nominal prices. But once we have the shift from 'prices only go up' to 'prices don't go up' mentality then I agree.
ha38349. Yes, that is part of the model I am seeing play out. Given my analysis of the surplus housing that overhangs this market I don't see how it could not be a multiyear nominal decline. THe 80/20 piggybacks are the key here. When the 20 gets wiped out there's no incentive to REO past the book clearing 80 pricing. It won't be long before apraisals have no choice but to use REOs as comps for resales.
Anon @ 10:55 AM:
”I'll be impressed if this case makes it all the way through without sanctions being issued or getting dismissed.”
Not meaning to come of snarky, but... My action isn’t submitted to impress you or anyone else. And not to be disagreeable I have real, honest to goodness, grievances with the parties. Nothing is made up, fabricated or based on things I can’t support.
Moreover, the pleadings are well within Prima Facie requirements (in my opinion and based on legal treatises), meaning it will withstand Demurrer without leave to amend (which is what you’re suggesting by an immediate dismissal).
Lastly SANCTIONS aren’t likely, in the far far extreme.
~Mark
IMHO Wishing physical harm is F-ed up, please stop it.
lostitpro ( mark(
STFU already. I really don't think anybody here thinks you are 1/10th as tough as you believe you are.
Big deal, you filed a suit against one of the biggest morons on the face of the earth.
I have laughed at your antics since day one. I recall when you threatened to sue all of the haterz if they got in your way, and your continued threats are still as laughable.
By all means please add me to one of your stupid lawsuits. Subpoena all of my information so you can identify and serve me.
You were willing to HELP Casey knowing full well that he had lied mulitple times on 8 loans across 4 states. You knew that he had received illegal cash back on multiple loans and you were also aware of the complete scam of a letter that was made available from Ramit where he was seeking investors at 24% return using homes he knew were in the process of being foreclosed as collateral. Yet YOU went out of your way to contact and HELP this criminal.
Casey leaving Galina and running off to Australia were not criminal acts, they were acts of a asshole. Were you not offended or concerned about his criminal actions. I doubt it since you went out of your way to contact Casey and then tried to help this criminal negotiate his consequences and accountability.
Screw you Mark Villasenor. Are you feeling bad because at one point you wanted to not only help this criminal, but help this criminal pay less on the money he had stolen.
Please sue me Mark. I would be more than happy to answer your suit and ask the question as to why would a LEGITIMATE company seek out an individual who has admitted to mortgage fraud and try to settle fraudulently acquired debts. What kind of respectable company seeks out admitted con men and tries to either bring them on board or help them.
How funny is it that the people who make so much noise about stopping Casey now, are the people that actually went out of their way to HELP Casey. What they leave out is how much money they envisioned everybody involved making in the process. Why would you go out of your way to help a known criminal? It doesn't make sense unless you use the old Casey standby of really wanting to help people.
fly in the ointment @ 11:48 AM:
” Please sue me Mark.”
AGAIN??? (too much.) LOL!
From the department of redundancy, department department...
Who said anything about adding anybody to the present action? I certainly didn’t (you’re clearly reading too much, projecting yourself I suppose). And I don’t need to name other at this time, besides that would serve very little purpose in you case. Tell ya what..?
Check to see if your post is still here in a week or so. If it’s gone, I’ll have proven my point, if it isn’t so be it. But if it’s gone, that won’t be because I complained to Rob to have it removed.
Hope you’re enjoying the 4th! ;)
~Mark
fly in the oint:
"I have laughed at your antics since day one. I recall when you threatened to sue all of the haterz if they got in your way, and your continued threats are still as laughable."
What does it matter what your opinion of LMP is?
He's apparently "pushed the button" on Fliptard, just as he said he would.
Y'know...nothing cuts through the bullshit like pulling out and aiming a loaded attorney.
When the ref blows the whistle, all the junior varsity gets off the field and rides the pine.
At 11:34 AM, Rob Dawg said...
Good point on the 80/20 loans when the house goes REO. Inventory level is also a key to prices, at the rate houses are selling today we have nearly a 9 month supply. Also interesting is that if we use best sales rate of the last several years of 7.35 mil units in June of '05 and the current inventory number of 4.43 mil units we would still take over 7 months to clear the inventory. Inventory is just piling up now and soon the prices have got to go down.
Mark-
Like your legal briefs, your posts make no sense either.
Why didn't your turn Casey in when you found out he had lied on all those loan applications. Aren't you a friend of the court?
I guess you only act on crimes when the other behavior offends you, until then you are willing to help the criminal out.
Check to see if your post is still here in a week or so. If it’s gone, I’ll have proven my point, if it isn’t so be it. But if it’s gone, that won’t be because I complained to Rob to have it removed.
I will also be waiting on pins and needles for the announcement from the new Casey insider on July 13th.
I wish whoever it was that disparaged, and framed in a false light context; expressly for no other reason than to diminish the good name of Lost Mittens would forthwith and remedially apologize for said liable.
fly in the ointment @ 11:59 AM:
”Why didn't your turn Casey in when you found out he had lied on all those loan applications. Aren't you a friend of the court? ... I guess you only act on crimes when the other behavior offends you, until then you are willing to help the criminal out.”
Why yes, I do consider myself a friend of the court as a matter of fact. But that doesn’t address your concern, so (just to show I hold no grudges) I’ll explain. But please promise to MOVE YOUR LIPS WHEN READING WHAT FOLLOWS?
It is my JOB to assist those with mortgage issues; I do this for a living. At the time Casey represented to me he wanted to repay each subject lender in full, and THAT was my aim and function (have you ever seen anything I’ve written or heard anything I’ve said that contradicts that line?). After it became abundantly clear (based on factors I’ll not discuss now) Serin had no such intentions of “paying back every dirty penny,” I ceased working with him.
Aside from all that HUMAN BEINGS are concerned here, real people; not Internet aficionados on what is and is not applicable under law. And the former is why I continue to give the parties room to consider their actions from here out.
Even stark criminals deserve fair treatment. THAT’S one thing that makes America great! Doesn’t always workout that way, but good folk can try toward such lofty ends without sinking into debase and folly.
Try it sometime?
@ Anon @ 12:02 PM
LOL! ;)
~Mark
Mark,
Why are you now using Casey logic?
Multiple crimes had been committed and Casey had shown ( with the letter to Ramit) that he really had no intention of stopping.
AS many have told Casey, it is irrelevant that you want to pay back every penny, you still committed a crime. Paying back every penny does not change that.
The court system doesn't drop charges if you say you will pay back the bank you robbed.
Are you trying to say that if I have knowledge of a crime and the criminal expresses to me repentance and a desire to make his victims whole, I have no obligation to turn that person over to the justice system?
Mark, you move your lips now.
A crime was committed. It doesn't matter if Casey was going to pay back the money, he is still a criminal.
Look on Caseypedia Mark and read the comments about you and from you concerning guiding Casey through negotiations. Its pretty obvious you were steering him away from matters that would bring up his fraud in choosing who to negotiate with, and more importantly, who not to try an negotiate with.
Mark you are a conman like Casey and you were very willing to help a known criminal. I don't buy your bullcrap Mark. Anybody with ANY sense has known for a long time that Casey CANNOT repay every penny, it is impossible.
If you actually believed that he could based on his behavior over the previous months and his inability to get a job that would help pay back money, then you are as stupid and deluded as Casey is. WE both know that you wanted something else out of this relationship and you were willing to partner with a criminal to achieve that.
Mark,
Let me put this in a way you can understand. Starting on February 7th, 2007 I began sending emails to Ms Scully at the Sacrament District Attornys office. I then sent emails to the FBI and emails to file complaints with the Attorney Generals Office in Utah, Texas and California. I have a copy of each of these emails in my "sent" folder and let those that I addressed know that I was saving a copy of my complaint to each of them.
I saw Casey was a criminal and I reported him to the appropriate offices and took some measure to make those I was filing a complaint with accountable in the future.
On the other hand Mark, you saw Casey as a business opportunity and rather than report him to the appropriate agencies you decided to HELP him and enable him and thereby keep him going in his criminal pursuits.
I reported the criminal and you tried to help the criminal negotiate his debts and take away the natural consequences of his actions. Good for you Mark, good on you.
Nanny_nanny_boo_boo @ 12:32 PM:
”Anybody with ANY sense has known for a long time that Casey CANNOT repay every penny, it is impossible.”
Wasn’t about what made “sense” but fair and just treatment, clearly things with which you’ve no idea how to contend.
~Mark
PS - Continue ranting. ;)
test
Post a Comment