Friday, November 07, 2008

Ventura County CA $598,000

OFHEO has the new conforming mortgage rates for November. $598,000 is 80% of $747,500. The home price slinky is about to snap back with a vengeance. Jumbo mortgages are too expensive so unless you are putting a lot down $598,000 won't buy most of the houses here.

Enjoy the slinky outfit as you toast Franklin Bank of Houston and Security Pacific (Los Angeles) on this BFF (Bank Failure Friday).


Sweet Cashback said...

Now that's a presidential FIRST lady dress !

Rob Dawg said...

She does look like Cindy McCain doesn't she? BTW did you see that dress on Michelle Obama?


Lost Cause said...

Did her boob pop out or something?

Black power, right on. About time, too.

w said...

All the usual doomers (who have been pretty correct for several years) are starting to whisper that the US will default, perhaps next year. Does anyone have an argument that they are wrong?

w said...

By the way. Michelle Obama is a fashionista compared to Hillary.

Rob Dawg said...

What would the US default "on" and what would the reparations be paid "in?"

I can foresee a massive write down. I also think people have irrational expectations about BHO. I said a few things on calculatedrisk and the long knives that came out were incredible. What I've seen so far doesn't look like a break from existing policy.

Son of Brock Landers said...

Dawg - Obama will listen to Gen Petraeus' recommendation on Iraq, not change Bush's tax cuts in the middle of a recession, call a nuclear Iran unacceptable, and push the fight in Afganistan. Plus his chief of staff is an i-banking son of Israel. Where's the change?

w said...

Default would be on national debt.

Marc Faber did an interview a few days ago talking about this and the US going bankrupt. Then there are guys like GEAB:!-Global-systemic-crisis-Alert-Summer-2009-The-US-government-defaults-on-its-debt_a2250.html

I think GEAB is a little off the mark when they start talking about strength of the Euro. Don't they see their banks in perhaps deeper problems than US banks?

I do not know enough to refute this and I have not seen any responses to this line of thinking. These guys have been right about a lot of things in recent years.

BHO is already starting to let slip a little bit of his free thoughts. He looks like he is going to be entertaining.

Rob Dawg said...

Brock you got it. BHO will be controlled by events not the other way round like the fans expect.

He's already installed the Chicago hardball liberals on his staff and even the moderate Dems are going to be alienated. You gotta remember this guy was the most junior of back bench first termers. There's gonna be some big egos to massage and no sugar in the pot to do it with.

Zintradi said...

"Brock you got it. BHO will be controlled by events not the other way round like the fans expect."

WHAT!? no hopey-changey? no rainbow-powered love machines, unicorn factories or strawberry scented welfare checks?

ok, we maybe the welfare checks...

I think we will get the change without the hope...

Son of Brock Landers said...

Get ready for Jamie Gorelick for Attorney General. This is the woman responsible for the wall betweent he CIA and FBI pre-9/11 and a former executive at Fannie Mae.

Better get ready for Deval Patrick on the off chance someone points out Ms. Gorelick's earlier f-ck ups. Wait, no one did when they had her on the 9/11 commission.

Property Flopper said...

"She does look like Cindy McCain doesn't she?"

Rob - what have you been smoking (and can I have some)?

She looks like Cindy McCain if you subtract about three decades and a dozen or so surgeries from Mrs. McCain. And that's just the face - Cindy NEVER had that figure.

BTW: Cindy could never wear that low of a plunging neckline. She's one face lift short of having a goatee, so certain parts need to be kept covered.

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