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.
Tuesday, April 15, 2008
Shower Where He Showered
Alas the Bakersfield Californian reports it has already sold. To a flipper no doubt. Almost a million dollar loss club member.
"In our time, Internet commenting has become its own special form of social idiocy."
My comment: ouch. But he hit it right on the head.
"The best demonstration of this is a series of brilliant skits by College Humor that imagine what real-life situations would be like if people spoke as Internet commenters. (In 'Internet Commenter Business Meeting,' for example, a guy yells 'First!' every time a new graphic is shown.) YouTube comments are harsher than those on message boards—something about watching a video inspires noxious responses—and also more random. It's as if there were unwritten commandments: No woman's boobs shall go unjudged; no man shall not be called gay; no popular video shall not be spammed with 'KKK FOR LIFE!!!'"
"In our time, Internet commenting has become its own special form of social idiocy."
Malkin made a video illustrating this a year or so ago, reading the verbatim comments from Daily Kos in a dramatic fashion, emphasizing the UPPER CASE when appropriate. It was quite funny. Yes, I know this would work on both sides. Pick a screed from a right-wing site and if you actually read the comments aloud they'd sound equally absurd.
More predictions: Nevada 1:8. Or worse. If California allows generalized gambling Las Vegas could die. Really, I'm not exagerating. California 1:12. A whole lot of what would normally be repos in California will sell for a price that covers debt.
Even if Nevada's foreclosure rate is 1 in 8, big deal... the historical foreclosure rate on properties purchased by anyone with last name "Serin" is roughly 75% ... !!
That being said, I'm currently in the market for... I dunno, let's say, 4 or 5 more houses. Who wants to loan me the cash?? :-)
BTW, Robbo™ ... do a blog post where everyone can vent about how much of their gross income went to the feds/state earlier in the week.
Me? Well, I juiced the numbers on my 1040's and will be expecting a pretty sweet refund check for $93,000 from the fed, and $27,000 from the state. Not bad for a professional napper!!
However, some see hope ahead for the dollar. For one, it has rebounded a bit against the yen after hitting a 12-year low against Japan's currency in March. And after hitting a record low against the euro yesterday, the dollar bounced back a bit against the euro Friday. Market experts say this could be a sign that investors sense the U.S. economy may in fact pick up in the second half of this year. As such, it's hard to imagine the dollar falling much further.
After I go to the bathroom I weigh half a pound less then before....maybe that is a sign I am going to loose a lot of weight in the future?
Any other predictions you can pull out of your rears based on Mr. La Monica's strong analysis skills?
This may not be a popular opinion.. but we have hit bottom.. as in now.. every piece of data I have is suggesting something different than conventional wisdom.
In 2006, we made the call for specific markets dropping 20%.. we hit them dead on...
Bottom is where it hurts worst, and we are there..
Now, in NO WAY am i suggesting we are in for an upturn.. just stabilization as it relates to housing prices...
Also, our data takes 6 months to feed into everyones systems.. so the NAR, housing economists.. etc.. will start to report on upside trends by Q4 of this year.
Hi akubi! I hesitated posting that because it has been so widely distributed. I did anyway because it was in Dawg's back yard. I haven't been reading CR religiously lately.
Mmmm..
ReplyDeleteMy kind of girls. Hot and imaginary.
NR
PS First in line to join them in the shower.
This is for Ogg the caveman. Nobody else.
ReplyDeleteWhat, no algae in the pool?
ReplyDeleteNext time, how about some guys in the shower? Jeez... start catering to "both teams", for crying out loud. ;-)
ReplyDeletelong time no see guys. here's another opulent joint you can have for just a few greenbacks. hope all is well with everyone here. Even You Casey!
ReplyDeletehttp://www.lasvegassun.com/news/2008/apr/16/foreclosure-hits-big-guys-too/
Off-topic, but must-read material for this crowd (I'd cross-post at other sites like the HBB, but I suspect it would fall on deaf ears):
ReplyDeleteLaughing Baby vs. the YouTube Commenters
"In our time, Internet commenting has become its own special form of social idiocy."
My comment: ouch. But he hit it right on the head.
"The best demonstration of this is a series of brilliant skits by College Humor that imagine what real-life situations would be like if people spoke as Internet commenters. (In 'Internet Commenter Business Meeting,' for example, a guy yells 'First!' every time a new graphic is shown.) YouTube comments are harsher than those on message boards—something about watching a video inspires noxious responses—and also more random. It's as if there were unwritten commandments: No woman's boobs shall go unjudged; no man shall not be called gay; no popular video shall not be spammed with 'KKK FOR LIFE!!!'"
"In our time, Internet commenting has become its own special form of social idiocy."
ReplyDeleteMalkin made a video illustrating this a year or so ago, reading the verbatim comments from Daily Kos in a dramatic fashion, emphasizing the UPPER CASE when appropriate. It was quite funny. Yes, I know this would work on both sides. Pick a screed from a right-wing site and if you actually read the comments aloud they'd sound equally absurd.
George Stephanopoulos is an A-hole and Hillary is an evil bot from hell.
ReplyDeleteThis comment has been removed by the author.
ReplyDeletewas the house still in one piece or did the plumbing get ripped out prior to foreclosure?
ReplyDeleteany word if homeless dude was housesquatting?
My goodness, why do these newspaper people miss half the story?
Word on tv news says boston can expect 1 in 48 houses to be foreclosed on before this is all over. So we are not at the bottom folks.
h.
Boston 1 in 48? No way. 1 in 20 at the very least. Big price gains, energy intensive and services oriented economy with a demographic handicap.
ReplyDeleteJob cuts haven't got rolling yet.
ReplyDeleteBet Beantown has thousands of financial jobs that simply won't exist this time next year.
Pew Report says that one out of 11 homes in Nevada are expected to be foreclosed upon. One out of 20 in California.
ReplyDeleteRather OT but worth reading: A Drought in Australia, a Global Shortage of Rice
ReplyDeleteMore predictions:
ReplyDeleteNevada 1:8. Or worse. If California allows generalized gambling Las Vegas could die. Really, I'm not exagerating.
California 1:12. A whole lot of what would normally be repos in California will sell for a price that covers debt.
Even if Nevada's foreclosure rate is 1 in 8, big deal... the historical foreclosure rate on properties purchased by anyone with last name "Serin" is roughly 75% ... !!
ReplyDeleteThat being said, I'm currently in the market for... I dunno, let's say, 4 or 5 more houses. Who wants to loan me the cash?? :-)
BTW, Robbo™ ... do a blog post where everyone can vent about how much of their gross income went to the feds/state earlier in the week.
ReplyDeleteMe? Well, I juiced the numbers on my 1040's and will be expecting a pretty sweet refund check for $93,000 from the fed, and $27,000 from the state. Not bad for a professional napper!!
Rob,
ReplyDeleteWhat about a new thread on http://www.bloomberg.com/apps/news?pid=20601087&sid=a8ULA6kmvOAA&refer=home
California is to mortgage lending what Chicago is to pork bellies. For years, that meant it was a place with soaring house values; today, the foreclosure rate across the state is twice the national average and going up fast. Riverside County, outside Los Angeles, may be the foreclosure capital of the country, with a rate close to six times the national average. And housing prices are in freefall...
ReplyDelete@Buzz Saw,
ReplyDeleteDid you read Tanta's response to that one?
Rob,
ReplyDelete1:12? That would make life suck.
Another knife catcher! That house is still way overpriced.
ReplyDeleteArticle
ReplyDeleteHeadline: Get ready for a dollar rebound
However, some see hope ahead for the dollar. For one, it has rebounded a bit against the yen after hitting a 12-year low against Japan's currency in March. And after hitting a record low against the euro yesterday, the dollar bounced back a bit against the euro Friday.
Market experts say this could be a sign that investors sense the U.S. economy may in fact pick up in the second half of this year. As such, it's hard to imagine the dollar falling much further.
After I go to the bathroom I weigh half a pound less then before....maybe that is a sign I am going to loose a lot of weight in the future?
Any other predictions you can pull out of your rears based on Mr. La Monica's strong analysis skills?
Good Day all,
ReplyDeleteBeen awhile since I have been here..
This may not be a popular opinion.. but we have hit bottom.. as in now.. every piece of data I have is suggesting something different than conventional wisdom.
In 2006, we made the call for specific markets dropping 20%.. we hit them dead on...
Bottom is where it hurts worst, and we are there..
Now, in NO WAY am i suggesting we are in for an upturn.. just stabilization as it relates to housing prices...
Also, our data takes 6 months to feed into everyones systems.. so the NAR, housing economists.. etc.. will start to report on upside trends by Q4 of this year.
I hope all is well!
Good to see ya, Duane !!!
ReplyDeleteHi akubi! I hesitated posting that because it has been so widely distributed. I did anyway because it was in Dawg's back yard. I haven't been reading CR religiously lately.
ReplyDelete