Housing Bubble, credit bubble, public planning, land use, zoning and transportation in the exurban environment. Specific criticism of smart growth, neotradtional, forms based, new urbanism and other top down planner schemes to increase urban extent and density. Ventura County, California specific examples.
Saturday, September 01, 2007
September Rockblogging
September already. Gauranteed to blow your mind apart. So come inside, come inside.
About the California Jam. One of Usenet's most infamous kooks developed an online persona based on nothing more than the fact that when he was a teenager he recorded the concert... and he still has the tapes. Wow!
To qualify for the new program, being called FHA Secure, a borrower will have to prove the original loan was being repaid until it reset to a higher rate and they must have 3 percent equity in the home. The FHA does not supply the mortgage loan but it guarantees loans extended by banks and other lenders.
Well, that's not so bad, no money down speculators, disqualified, interest only payers or neg am's with no equity, disqaulified, people who just walked away and stopped paying (Casey), disqaulified.
All they have to do now is disqualify people with more than one house (speculators realtors and brokers) and it wouild be perfect. For those with a vacation home..suck it up man and sell it...sheesh
Legion, I agree that the plan doesn't sound as horrible as I was imagining. Especially if it will allow Owner Occupied homes, which I believe it will since my understanding of the FHA is that they do not assist with financing investors. (Though in California, there are very few FHA loans due to pricing)
Akubi, interesting article. Not as interesting as porn, but interesting :)
I wonder if part of the solution to the current problem is to make sure that everyone has some skin in the game. Buyers, lenders, and loan brokers. Perhaps even RE agents. Eliminate 100% financing, make buyers put at least 5% down. Make mortgage brokers keep a reserve against bad loans they might have to buy back. Require lenders to mark to market their loan portfolio. Keep some of the RE agents commission in escrow for a year or so.
"When a McMansion is deserted, the manner of its decline varies. The first, the US being a capitalistic society, are what some wag called the new "equity strippers". Rather than take over a company and strip it of its worth and send the jobs OS, this is a house-by-house operation. But a good team of modern-day "equity strippers" can take $20,000 from a McMansion in one night. Not everybody is making money on copper futures. These guys are into copper present — or presents, but they can turn a penny on the fantastically ugly fittings, wooden stairwells and other appointments."
Cold and misty morning, I heard a warning borne in the air About an age of HELOCs where no one had a reason to care, Where late the loans have withered, bankrupt owners shivered, in the cold Now their faces captured in the lenses of the jackals for gold. I'll be there I'll be there I will be there.
Suffering in silence, they've all been waylaid. They tempt them and they cheat them, in a salesmanlike way, Praying for survival at the end of the day. There is no compassion for those who strayed. I'll be there I'll be there I will be there.
There must be someone who can set them free: To help them borrow from a mortgagee To help the feckless and the poor FB To ask what's left of humanity. Can't you see Can't you see Can't you see.
I'll be there I'll be there I will be there; To help them borrow To make then borrow Blight tommorow!
Step inside! Hello! We've the most amazing show You'll enjoy it all we know Step inside! Step Inside!
We've got thrills and shocks, supersonic falling stocks. Leave your Hummers at the box Come Inside! Come Inside! Roll up! Roll up! Roll up! See the show!
Left behind the bars, rows of Brokers heads in jars and a mortgage on a car Spectacular! Spectacular!
If you follow me there's a speciality some tears for you to see Misery, misery, Roll up! Roll up! Roll up! See the show!
Next upon the bill is our House upon the Hill We've a spokesman who's a shill What a thrill! What a thrill! And not content with that, with our hands behind our backs, We pull Greenspan from a hat, Get into that! Get into that! Roll up! Roll up! Roll up! See the show!
Welcome back my friends to the show that never ends We're so glad you could attend Come inside! Come inside! There behind the glass is a record unsurpassed Be careful as you pass. It won't last! Move along!
Come inside, the show's about to start Guaranteed to blow your bank apart Rest assured you'll get your money's worth The greatest show in Heaven, Hell or Earth. You've got to see the show, it's about to blow You've got to see the show, it's rock and roll...
Soon the Realtor Queen with the Subprime Loan Machine Will perform on guillotine What a scene! What a scene! Next up on broadband will you please extend a hand to Ben Jonses' Ragtag Band Sell some land, take a stand. Roll up! Roll up! Roll up! See the show!
Performing on a stool we've a sight to make you drool Handcuffed brokers and a mule Keep it cool. Keep it cool. We would like it to be known the exhibits that were shown were exclusively our own, All our own. All our own. Come and see the show! Come and see the show! Come and see the show! See the show!
17 comments:
first babeeee..was there ever any doubt?
A bit before my time. Thankfully, the "art rock" scene died before I started buying music. Didn't these guys go on to become Asia?
I like some Yes though.
About the California Jam. One of Usenet's most infamous kooks developed an online persona based on nothing more than the fact that when he was a teenager he recorded the concert... and he still has the tapes. Wow!
http://www.californiajam.com/
Rob, I was just watching this very video of Karn Evil 9 on youtube a couple of weeks ago...
Great minds think alike... eeek!
To qualify for the new program, being called FHA Secure, a borrower will have to prove the original loan was being repaid until it reset to a higher rate and they must have 3 percent equity in the home. The FHA does not supply the mortgage loan but it guarantees loans extended by banks and other lenders.
Well, that's not so bad, no money down speculators, disqualified, interest only payers or neg am's with no equity, disqaulified, people who just walked away and stopped paying (Casey), disqaulified.
All they have to do now is disqualify people with more than one house (speculators realtors and brokers) and it wouild be perfect. For those with a vacation home..suck it up man and sell it...sheesh
Legion, I agree that the plan doesn't sound as horrible as I was imagining. Especially if it will allow Owner Occupied homes, which I believe it will since my understanding of the FHA is that they do not assist with financing investors. (Though in California, there are very few FHA loans due to pricing)
California is not a competetive State in the 2008 elections. The Ds and Rs think of us as a piggy bank, nothing more.
...At the very least, there should be a clear line between a mortgage company and a casino...
Akubi, interesting article. Not as interesting as porn, but interesting :)
I wonder if part of the solution to the current problem is to make sure that everyone has some skin in the game. Buyers, lenders, and loan brokers. Perhaps even RE agents.
Eliminate 100% financing, make buyers put at least 5% down. Make mortgage brokers keep a reserve against bad loans they might have to buy back. Require lenders to mark to market their loan portfolio. Keep some of the RE agents commission in escrow for a year or so.
"When a McMansion is deserted, the manner of its decline varies. The first, the US being a capitalistic society, are what some wag called the new "equity strippers". Rather than take over a company and strip it of its worth and send the jobs OS, this is a house-by-house operation. But a good team of modern-day "equity strippers" can take $20,000 from a McMansion in one night. Not everybody is making money on copper futures. These guys are into copper present — or presents, but they can turn a penny on the fantastically ugly fittings, wooden stairwells and other appointments."
http://www.theage.com.au/news/busine...067276893.html
Could we go back and talk about real music?! Britney Spears? Backstreet boys?
Oh and btw, MURST you LOOOOOSERZ !
Hey guys, for those of you who want a 3d cube (4 different desktops) that you can rotate like linux's beryl, here's the link, and it's free.
I use it to keep watch here, prosper.com, and watch a movie.:-)
http://www.softpedia.com/get/System/OS-Enhancements/Yod-m-3D.shtml
@Pleather Murse
Your reference didn't work very well... here is a better link.
The second page is the one being referred to by PM.
Thanx. Damn ellipses.
Con Evil 9 - First Impression
Cold and misty morning, I heard a warning borne in the air
About an age of HELOCs where no one had a reason to care,
Where late the loans have withered, bankrupt owners shivered, in the cold
Now their faces captured in the lenses of the jackals for gold.
I'll be there
I'll be there
I will be there.
Suffering in silence, they've all been waylaid.
They tempt them and they cheat them, in a salesmanlike way,
Praying for survival at the end of the day.
There is no compassion for those who strayed.
I'll be there
I'll be there
I will be there.
There must be someone who can set them free:
To help them borrow from a mortgagee
To help the feckless and the poor FB
To ask what's left of humanity.
Can't you see
Can't you see
Can't you see.
I'll be there
I'll be there
I will be there;
To help them borrow
To make then borrow
Blight tommorow!
Step inside! Hello! We've the most amazing show
You'll enjoy it all we know
Step inside! Step Inside!
We've got thrills and shocks, supersonic falling stocks.
Leave your Hummers at the box
Come Inside! Come Inside!
Roll up! Roll up! Roll up!
See the show!
Left behind the bars, rows of Brokers heads in jars
and a mortgage on a car
Spectacular! Spectacular!
If you follow me there's a speciality
some tears for you to see
Misery, misery,
Roll up! Roll up! Roll up!
See the show!
Next upon the bill is our House upon the Hill
We've a spokesman who's a shill
What a thrill! What a thrill!
And not content with that, with our hands behind our backs,
We pull Greenspan from a hat,
Get into that! Get into that!
Roll up! Roll up! Roll up!
See the show!
Welcome back my friends to the show that never ends
We're so glad you could attend
Come inside! Come inside!
There behind the glass is a record unsurpassed
Be careful as you pass.
It won't last! Move along!
Come inside, the show's about to start
Guaranteed to blow your bank apart
Rest assured you'll get your money's worth
The greatest show in Heaven, Hell or Earth.
You've got to see the show, it's about to blow
You've got to see the show, it's rock and roll...
Soon the Realtor Queen with the Subprime Loan Machine
Will perform on guillotine
What a scene! What a scene!
Next up on broadband will you please extend a hand
to Ben Jonses' Ragtag Band
Sell some land, take a stand.
Roll up! Roll up! Roll up!
See the show!
Performing on a stool we've a sight to make you drool
Handcuffed brokers and a mule
Keep it cool. Keep it cool.
We would like it to be known the exhibits that were shown
were exclusively our own,
All our own. All our own.
Come and see the show! Come and see the show! Come and see the show!
See the show!
@sm_landlord
For some odd reason, I think Emerson, Lake and Palmer are going through my head...
Nice video, I always like to see the "wall of keyboards" in action . . . much better than modern techno bands with their laptops, ugh.
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