"If people [homebuilders] stop cutting prices, that's actually good," said David Goldberg, an analyst with UBS Investment Bank. "If everybody does it, it works. If one builder does it, it doesn't."This gem from a St. Petersburg Times article that goes on to say highly questionable things like: The reductions, builders complain, have sliced into already thin margins. "Thin margins" my Aunt Millie. Here's a free clue for all those professional analysts. People stopped buying houses at these prices. People will start buying these houses at lower prices.
73 comments:
Ho Ho Ho - It's Santa Flipper Clause
Has any builder ever heard of supply and demand?
Murst?
Santa F. Clause
First! you have to teach them about the locality of the real estate markets. Just because your local market in Florida sucks doesn't mean you can't go somewhere where it's booming to sell at high prices......like CA, NV, AZ.
First all the builders need to get together and decide on the price level they won't go below. Price fixing anyone?
Well since I didn't get First.
Second step is for the builders to start buying. Yes buying! All they need to do is buy up all the surplus houses on the market.
With all these screaming buys I don't understand why realtors and home builders aren't stocking up. Or is that doubling down?
Heh;
Leave it to builders to insist that they can build their way out of this burst.
What they COULD do is take the excess inventory off the market.
By buying distressed properties in shitty neighborhoods and tearing them down...and then sitting on the land as a long-term investment.
It's something I've always wondered about.
People will pay like sin for a "horizontal apartment",(townhouse) in South Riding, Virginia, and spend an hour and a half each way commuting to downtown DC.
What would that same townhouse be worth if it was on New York Avenue...minus the "Northeast DC cultural vibe" that that entails?
OT, but it seems kc's last blog has really shut down. Only 2756 to go.
Why does Casey keep bailing on his blogging? To get his wife back? Should he be looking for a regular job instead? Can't take the heat from the relentless haterz? Or just more sponteneous combunstion from the world's most hated flopped flipper? Tune in again next week.
Why? Why? Look, it's time everybody got this all straight. He is a broken child. There is no hold on him. Add to that it should finally dawn on even the most generous that he really is as stupid as his stupidest acts.
I see. His businees plan was to follow a late night informercial, and things went downhill after that. I have no sympathy left for the guy. But who scraped up the Porche?
But who scraped up the Porche?
Casey did... and Rob Dawg's comment applies here too... Add to that it should finally dawn on even the most generous that he really is as stupid as his stupidest acts.
Driving a Porsche at speed is not the same as driving a beat up VeeDub on the street, even if it is on 'hot rims' and has a 'hot stereo' in it.. hot satire intended
Recall also that wonderturd got a ticket in the v-dubs. Prima facie evidence that he wasn't qualified to get behind the wheel of a real automobile.
I have no evidence but you just have to know that when they went a drivin' in the track they paid with credit cards or left checks as deposits and even if there was coverage offered they declined. Yet again someone trusted him and got screwed royally.
Rob:
" Yet again someone trusted him and got screwed royally."
Yeah, he's a human "creosote bush"...toxic person.
Sucks 2B Him.
So...
Builders' assholes suckin' buttermilk. I've got two neighbors who are bulders, and their bonusues ain't a happenin'.
(And both of 'em have nifty speedboats in the 19' range...one's a Wellcraft, and the other guy has a new baby...I'm thinkin' on making some offers.
Maybe in February.)
The Casey pattern is: suck people in, and then withold supply. How many times has he done this? I can't read his new blog. Perhaps it is easy for the naturally beady-eyed, but I have to squint to read that type. The format is too laid back for me. I fall off of my chair.
This is priceless. From his 11/11 post, "Rules of blogging":
Rule #1: Blog Every Day! Not when you feel like it. Every day! Well maybe take Sunday off. A day of rest, you know. Nothing to say? Just start writing and something will come! Believe me, it really works like that. Some of my best posts came on those “blank” days. Take the first step and the creativity will take over.
Why every day? Because it’s a great natural rhythm. That’s what people expect. Maybe it’s a subconscious thing or whatever. Also, you want to give your people who are working W2 jobs something to do during their scheduled lunch break. Everybody needs an escape, you know. (Plus, the search engines like fresh content too!)
Also be consistent. That should be common sense. You don’t want to drop out for more than a day or two. After you develop an eager audience, they will actually email you complaining about the lack of updates. Trust me. (Or they may start wondering if you’re in jail. But that’s a different story.)
Of course he deleted the blog.
Google "escapemyhouse.com" and be sure to click on the "cached" option to read it.
Looking back on it now (with the hindsight provided by 2 minutes) it seems like he's successfully created a non-blog about non-blogging. Sweet! The virtual cash will just start rolling in to his nonexistent account.
If a blogger posts and nobody reads it, does the blogger really matter?
It looks like big spender Aaron Krowne may have broken out the "legal stick" to compel Gaysey to shut down the blog. [Scroll to bottom of link]
I think he's bluffing.
The ONLY reason Casey even blogs anymore or even goes on the Koicast is to try to show Galina that he has changed and that she should take him back. For true love? Not by a long shot..
By divorcing him Galina pretty much opted out of the law which states that a spouse cannot testify against her spouse. By being divorced, she is free to nail the little shit to the wall.
All these crocodile tears about how he didn't realize what he had, how she was the best thing that ever happened to him...booo hooo ya loser. You couldn't stay off the internet, you couldn't hold your bullshit w-2 job with damion shitpile, and you can't even stop going on the koicast and repeating her name over and over. What happened to her privacy?
In other good news..CFC at an all time low for the year:-) Guess who made money on them recently?
Yep, while Casey is gonna be eating humble pie at home for the hoildays, I've got another christmas ski vacation set up at big mountain...3 nights at the penthouse suite:-)
Doesn't the law actually say that a spouse cannot be compelled to testify? That does not mean that s/he cannot choose to do so. Just that the law cannot force him or her to do it.
Off Topic Dawg, but irresistible.
Why we were kicked off of CH.c we are creepy according to Tracy.
I have never used a forum, and did not post because my IT skills are non-existent and that is why I was a lurker. Just trying to get the 'lay of the land' and figure out the ins and outs of the Dude's Forum.
Anyway, I followed Casey's blog link here this morning to Nigel's blog which had a link to CH.c and here is what the pubic is allowed to see. (it's closed to new members)
+++++++++++++++++++++++++++++++
And remember, lurkers are annoying. And creepy. So please participate.
Ok, perhaps I didn't make myself clear. Participate or we really don't need your lurking ass here.
I'm gonna give it a few days and then delete anyone who's just lurking. It gives me the willies.
Posted by Tracy
CASEY rhymes with LORD TRACY
Remember kids, don't talk to lurkers. They're creepy.
Or rather, do talk to them... or encourage them to talk... so they're not so creepy, or something.
I give up.
Tracy is a hypocrite, the dude is a lying scuzball.
Lurkers Rock.
What would happen to the written word without someone to read it?
BALT supports lurkers.
Bloggers
Against
Lord
Tracy
he he
A tribute to Lord Tracy.
How can a lurker be annoying? Isn't Tracy a chick?
LOL @ Edgar.
Are those Capitan Obvious Dolls dancing in that video?
tee hee
@lost cause,
Yep, I hear she is a fat chick, but that is un substantiated EN Gossip, where as her willies for lurkers (her words) is now a fact.
The Haterz now have haterz that are not supporterz....
tee hee
FMW,
Well, well, well... quite the drama llama, aren't you? Is there a specific reason you're acting like a middle school student or are you simply butthurt because your account got deleted?
What are you? 12?
Not only are you a petty bitch, but you're misinformed. CH.C has been accepting new members for quite some time now.
You're welcome to come on over and register and say anything you need to say to my face.
Somehow, I don't think you will. Your type never does.
Gee, now why was it again that I never participated in CH.c? Gosh, and all the traffic I "lost" because there were better ways to follow the Casey saga. Sniff.
T, you really are pitiful. You can dish it out, but you can't take it. The only reason youi want to lure her over there is so you can feel like you are in control. Go crawl back under your rancid little rock of a forum and tiny little world of 24/7 hating on a "looser".
Don't cry, Rob. There's plenty of room for a walrus over there. All you needed to do was register. But I think you like the drama, too, don'tcha, big guy?
Edgar,
You're not welcome. Now how 'bout you blow me? Ktnx.
HAHAHHAHAHAHAHAHHAHAHAH,
Now, who has been lurking at EN and for how long without EVER posting????
hahahhahahahah
Who? Would that be Tracy?
OMG, go away.
Your bitterness has been duly noted over @ CH.C
I, unlike you, decided to come over here and address it directly.
And the invitation is sincere. So the ball is in your court.
T, honestly you are probably the biggest drama-queen in this whole story. You also seem a bit paranoid and "stressed".
And what good does it do to register at the site when you hardly approve anyone?
"HAHAHHAHAHAHAHAHHAHAHAH,
Now, who has been lurking at EN and for how long without EVER posting????
hahahhahahahah
Who? Would that be Tracy?"
BINGO! We have a winner...
So what's the latest on Casey? Does anyone really know why he took his site down so suddenly?
Your bitterness has been duly noted over @ CH.C
******************************
Tracy takes a bow as she exits stage left.....Polite Golf course clapping.
HAHAHAHAHHAHAHAHAHAHAHAHAHAHAHAH
What the drama's producer did not tell Tracy, (out of sympathy, bc even as a drama queen, T can be a little slow) was that she flubbed her line "Your bitterness has been duly noted over @ CH.C".
It should have been "Your Forum Noob in-efficiency has been duly noted over @ CH.C"
Peace Out
FMW
Definition of Noob:
http://www.urbandictionary.com/define.
php?term=Noob
Sorry bout the post Dawg.
I did not know some people were so angry.
Also, I did not know the CH.c police still were lurking here at EN.
tee hee
GTG to Publix
Reminds me of a scene out of The Wizard of Oz. The only line missing is "and your little dog, too."
fmw sed:
"HAHAHHAHAHAHAHAHHAHAHAH,
Now, who has been lurking at EN and for how long without EVER posting????
hahahhahahahah
Who? Would that be Tracy?"
Exactamundo!
T sed:
Edgar,
You're not welcome. Now how 'bout you blow me? Ktnx.
Ouchie wawa! That's a good one! You hurt my feelers, T. Shniff!
Can't we all just get along and hate on something we can agree upon like Casey and Cheney?
akubi:
"Can't we all just get along and hate on something we can agree upon like Casey and Cheney?"
I likw Cheney, Lebanese daughter n'all.
Guys had more heart attacks than rides on a subway, but he doesn;t duck the stress.
All Jerry Ford ever did as VP was fall down, and he spent 30 years riding around in golf carts and taking it easy.
Besides, when you shoot someone in the face, and THEY apologize for getting in the way of your shot, you KNOW you're Fuckin' Cool.
Leave Dick outta our sordid little CaseyHate.
Orlando-area housing slump hurts other businesses.
Tourist attractions, retailers, restaurants, others see fallout
Mark McHugh, Gatorland president, hangs with a few of his star attractions. He said 2007 business has been slow.
housing bust gator victims pic
snip:
The continuing slowdown in home sales is rippling throughout the region's economy, reaching beyond builders and Realtors to affect businesses often far removed from the world of real estate.
Just ask Gatorland's Mark McHugh, who blames the housing slump for a drop in attendance at his Orlando tourist attraction.
"Our local visitation is way down," said McHugh, the park's president. Unlike the area's giant theme parks, Gatorland relies heavily on visits from locals and in-state travelers, he said, and "when you start seeing the possibility of a decline in the economy, people pull back on their discretionary spending."
The chairman of the Federal Reserve, Ben Bernanke, told Congress recently that he expects the U.S. economy to slow "noticeably" through the end of this year and into next as the housing slump and related turmoil in the mortgage business both intensify. Bernanke said he doesn't expect the nation's economy to strengthen until sometime later in 2008.
I always thought that FMW had good stuff to say, and I don't think she is creepy in the least. As for CHC...well, let's just say I never registered there, nor do I plan to. Just the fact that they are deleting accounts or kicking people out, some of whom I respect...I mean..what is this high school and trying to be in the right clik?
Nuff said.
I did not understand what exactly made the site so bad according to them, but I think these guys shut it down:
http://www.netauthority.org/offenders/5647.shtml
@Bilgeman,
Lebanese daughter? I thought it was one of those Shining twins with Luba things rather than Lebanese. BTW that link is NSFW.
@Legion,
I agree that "FMW has good stuff to say." Plus she won the 6 Degrees of Casey Serin to Dick Cheney game and at least one other as well - can't find it on Caseypedia though.
@Monica,
WTF? I don't get it either.
@Monica,
I hope it doesn't have anything to do with my comment with a link to my SFW blog. It appears that Baabaabaab is the Google's #3 search result for "smellmeand.com". Sweet!
You can leave comments there (at the link). There is an email address, too, info@netauthority.org, but the organization self-righteously declares on their site: "We do not make mistakes".
You can leave comments there. There is also an email address, info@netauthority.org, although the organization specifically states on their site: "We do not make mistakes".
The netauthority site is a parody, presumably of conservative religious-based censorware companies. It's been kicked around the internets quite a bit, and a surprising number of people fall for it. They have no authority whatsoever.
I wrote a comment there, and also reported to them as hateful and containing "materials of an offensive political nature" (the wording is theirs).... their own site.
Akubi:
" BTW that link is NSFW."
Depends on your work.
Thx for the warning anyway.
And tell the girl in the first two shots that she needs to eat something more than Evian and a Virginia Slim.
She's looking a mite anorexic.
Wow. Big trouble for Pacific Wealth.
http://www.pe.com/reports/2007/wealth/
Oh thank God there's a bit of anti CHC Mod sentiment here... IMHO the Casey story has morphed into trolls trolling trolls who troll back. It seems that the CHC mods have missed that point along with their mislaid sense of humour.
Butthurt? Nah.... not one bit.
anyone still short CFC? going down fast today
Legion,
Were you ballsy enough to hang in there on CFC for today's reverse rally?
Speaking of getting trolled, Monica you got played bigtime.
So who in the extended Cheney family plays the role of the "Little Dutch Boy"?
Wagga -
Cheney's daughter Mary. She is quite outspoken about it. He has been very supportive of her (one of the very few things about him I like). This has caused a few "issues" when gay rights comes up in the Bush White House.
I don't understand what you mean by "got played". Nobody trolled me (where?), nor am I trolling myself. Casey's site really is listed on the Net Authority site, which is not something serious, but then, since it was listed around the time when Casey's site disappeared, it just makes sense that Casey could have taken them too seriously. This is not necessarily the case, but Casey is known for making rash decisions and believing things that are not necessarily true.
Dow trying to regain 13,000, but I'm not sure it will be able to do it. There may be some heavy selling later in the session if it doesn't. Next support is at Dow 12,850. Below that is Correction territory, and a lot of the market signals turn to Sell; or in other words, below 12,850 it's a bottomless pit, so if nothing else the markets will try to hold there. Should be interesting.
Monica, I think the general idea is that NetAuthority is, itself, a troll site, or at least is being used for that purpose. I would ignore it.
"Getting trolled on the internet" is right next to "other internet personalities' opinion of my internet personality" on the List of Things I Don't Care About (and you can throw CH.c--and anything Casey-related, for that matter--on the same list.)
@TK
Unfortunately no..even I didn't think they could go down THAT low.
for shits and giggles I went long at 10.80 though for like 500 shares:-) Maybe I'll be able to buy some mickey d's with the profits from that one:-)
At this point I have made enough on CFC for the year, so why blow it all like a typical gambler would when I can just relax and enjoy the dough while playing with a few bucks. Kind of like a gambler at the 500 dollar min table who makes 40 grand then moves to the 5 dollar table to relax:-)
There's the relief 13,000 we were both expecting. I hate when what I expect looks too much like chartist or other "math" theories but this looks like Elliot Wave stuff with a bit of moving average and support thingies. 12,600... 10,800.... 9800(?).
I've said before the market isn't rational and is gamed for certain behaviors. The financials and homebuilders should be straight lines declining with the usual technical bumps for short coverage/squeezes but this is different and wrong. The bulls and the bears seem to be cooperating to trample the ants.
I'm glad I'm not the only one that has had issues with CHC. I tried registering, then had my account deleted when they updated their contact list or something, and then couldn't re-register. Too difficult.
I like being a lurker most of the time. I'm glad that every reader doesn't post -- some people just make better readers than writers.
Rob, the regular folks don't trade in the markets day-to-day, and certainly not hour-to-hour, so short-term moves are a game played between the trading desks at the investment banks and the day traders. Between the two, I've got a pretty good idea of who is in the stronger position and who is in the weaker position.
http://www.pe.com/reports/2007/wealth/
This Pacific Wealth thing is hilarious. They've got this whole drawn-out explanation with steps and graphics detailing the how these people were "fooled"...BWHahaha
Yes, thank you for rehashing the oldest scam in the book.
@Old,
Are you there? My Happyfuntime password stopped working.
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