Pent up demand

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  • Just Another Credit Crunch?
    One has to love the newspeak: "central banks have injected billions"; in the old days we would say that they're running the printing presses full bore. Oh, right, the bankers have to present "collateral" for these injections. But we've redefined collateral to mean anything up to and including shiny rocks found on a recent trip to the shore.
    Feb 27 09:59 am |Rating: 0 0 |Link to Comment |View article
  • Latest Case-Schiller Report Shows the Sky is Falling
    Schiller is the only one to properly account for sales mix. The numbers that the realtors like to kick around are no better than noise because they reflect the median of an ever-changing basket. The "don't worry be happy" bulls also like to play stupid games with month over month numbers in a cyclical business. Look at the year-over-year numbers. It's not a pretty picture. We're going to see former realtors selling apples in the street if this keeps up.
    Feb 26 15:01 pm |Rating: 0 0 |Link to Comment |View article
  • Injecting Accountability into the Credit Crisis
    "Nationwide moratorium on spec homes"? Shall we address you as Der Fuhrer as well? More liberal fascism. Golly Mister, I'm filled with patriotic ardor for the chance to sacrifice my financial future to preserve the value of your home. I'll remember that we're all in this together when I'm still stuck living in a rental 10 years from now. So a 40-50 year loan at 9% will make a home affordable for me? No thanks. Isn't that better known as "indentured servitude"?

    This article is full of yet more bandaids. You want a solution? Mark it to market. That is the cure for what ails the financial system. There are going to be failures a-plenty, but no sane investor is going to risk his capital with a bank until we've excavated the banker's backyards to find out where all the bodies are buried.

    If you are an owner in a formerly hot market, much of your home's value is completely imaginary. Yes, it makes you sad. But that is reality. Get over it.
    Feb 25 13:03 pm |Rating: 0 0 |Link to Comment |View article
  • Housing Bailout: Crony Capitalism Comes to America?
    Still waiting for a liberal economist to explain to me how a federal bailout to prop up the cost of housing is good for the working class. And waiting...
    Feb 25 10:07 am |Rating: 0 0 |Link to Comment |View article
  • Proposals for a Depreciating Housing Environment
    Banks are not foreclosing on people who make the payments. If the value of the collateral deteriorates that is just part of the risk of being a banker. And Mike B., holders of mortgages are not happy if the nominal value of the asset goes up through (unanticipated) inflation. They want a real yield on their investment. Federal Reserve funny money is not a real yield.

    Hell, brokerbila, I like your plan. But why not cut out the middlemen? Just have the Feds buy up all the troubled properties, and then they can allow citizens to live in them rent free. We all pay taxes, right? I'm sure we can figure out an equitable way to assign party members, I mean citizens, to housing units.
    Feb 25 08:58 am |Rating: 0 0 |Link to Comment |View article
  • Another Discouraging Inflation Report
    "Inflation is always and everywhere a monetary phenomenon." Who said that again?

    I just hope they put Greenspan's face on the hundred when they issue the "strong" US dollar at 1,000:1 for today's greenbacks.
    Feb 20 15:55 pm |Rating: 0 0 |Link to Comment |View article
  • A Housing Bubble Within a Bubble
    Disclaimer: I am a family man (previous owner) who is renting right now.

    I am sick-to-death of the hearing the "losing equity" argument. I rent a large apartment for $2600/mo in a place where the carry on a similar size single family would be $4000/mo plus. Oh yeah, prices are falling. What the heck am I missing out on by renting? Let's see, $1400/mo in carrying cost and a nice chunk of negative appreciation.

    My landlord is practically begging me to buy the 3-family house I rent in. "Great income" he says. Aw, thanks, but the reality is he's a smart money guy who missed the top and is smart enough to know that you don't get wealthy by holding assets that decline in value.

    I agree 1000% with the admonition against distant suburbs. Expensive gas is going to kill those places.

    Housing is not "cheap" in the heartland. It just stayed more sane than the coasts. I live on the east coast but grew up out there. When I go back to visit, I see lots and lots and lots of "dream homes" built by boomers. I hope the quality wasn't too bad; I look forward to retiring to one of those babies at a nice discount to what Mr. and Mrs. Boomer paid to build it.
    Feb 14 08:39 am |Rating: 0 0 |Link to Comment |View article
  • Are Consumers Finished... This Time?
    Unsustainable trends will not be sustained...

    So there have been numerous calls that were too early. So what. What "innovations"... have happened to sustain this trend since the 80's? Let's see: Put Mom to work. Check. Massive deficit spending by the Fed. gov't. Check. Easy credit, gaming of the inflation/money supply statistics. Check and double-check.

    Heck, goober. I'm running out of ideas. BB and the plutocrats have one too many plates spinning this time. And there's no curtain to bring down so that we can't see them all wobbling and falling.
    Dec 12 13:19 pm |Rating: 0 0 |Link to Comment |View article

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