Wednesday, July 30, 2008

Stickiness

The best part of this disagreement is that within a year or 6 quarters at longest we'll see without question whether this time will be sticky like every time before or whether this time is different in this one respect.
- Rob Dawg | Sunday, August 27, 2006 at 20:03

For the record the “Silent Spring” is Q2 ‘06 so technically includes June but as I’ve been predicting this is not a symetrical retracement. The subheads read “falling off a cliff” and ballooning inventories and such. Every time I read another “I had no idea it would unravel so quickly” comment I feel vindicated. Next symptom; “FSBO, priced for quick sale.” I called the top of the market Oct 6th, 2005 shortly after breakfast but never said why. That’s when my $9/hr housekeeper from Nicaragua (8hrs every other week, green card) told me about her new house in Oxnard.
- Rob Dawg | January 24th, 2006 at 9:33 am

Here is the Los Angeles Case-Shiller for June (credit Westside Bubble):


Stickiness was all the last times. this time is different. Time has vindicated my position.

8 comments:

Akubi said...

Murst to leverage and bird dog!

Akubi said...

Hey guyz (like anyone f-ing cares),
I think you are all groovy and the charts are scary.
Nietzsche 08!

Akubi said...

I want a fucking pool for my dogs!

Casey Serin said...

That’s when my $9/hr housekeeper from Nicaragua (8hrs every other week, green card)

Are you looking for another housekeeper, Robbo? I'm looking for work and might be interested -- my salary requirements would be $100/hr, with mandatory 55-minute breaks every hour, on the hour.

I'd even dress up as a classic French maid, if you'd like... ;-)

You know my e-mail address, get back to me. Kthxbye.

w said...

Stickiness irritates me. The house we really want just sold after being on the market for ever and dropping the wishing price about 25%.

http://www.redfin.com/CA/Santa-Rosa-Valley/2193-Holiday-Pines-Ln-93012/home/4572210

A large but dated home in Santa Rosa Valley. Money has no value any more. Do these buyers actually work for their money? This purchase price represents 30 years of income in the top 2% of wage earners.

Ogg the Caveman said...

@ W:

Do these buyers actually work for their money?

It depends on the buyer, of course.

In all seriousness, I know what you mean. Somebody making decent money ought to be able to afford a house on a conventional loan. But few can. I know I can't.

Akubi said...

As far as I'm concerned all of them can shove their stickies and such up their assholes and let Cthulthu clean up the remainders.
Good night and good luck.
Signed.
One Angry Taxpayer.

chickenlittle said...

So where does reversion to say a 20-year mean put prices? come on, make me sweat!