Weekend Topic Suggestions!
Due to server downtime last weekend, this thread has been forwarded so it can be used this weekend.
And send your housing bubble pics to:
hbbphotos@gmail.com
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Original Source: thehousingbubbleblog.com
America Tonight Radio in Taos
Many thanks to Peter St. Cyr at Griffin and Associates for getting these audio broadcasts ready for us to listen online. These audio files contain great information about Taos business and tourism. Only the 1st segment of the 1st hour is on the phone. The rest are set up in studio with great sound quality. Learn about getting the key to Taos in Segment Four.
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Original Source: galleryrealtyoftaos.com
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…Illin’
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One of the unique phenomenons of the Great Housing Bubble was the intense speculative activity, particularly the purchase of multiple properties. When speculators who purchased multiple properties implode financially, they allow multiple properties to fall into foreclosure. One of the reason we have had such a dramatic spike in foreclosures even before the bulk of the adjustable rate mortgages begin to reset is because of the collapse of speculators.
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Original Source: feeds.feedburner.com/IrvineHousingBlog
How to find a contractor you’ll love
One upside to the popped real estate bubble is that hiring contractors has suddenly become a lot easier. A couple of years ago, it seemed like you had to be an A-list celebrity or a hedge fund tycoon to get one to so much as call you back. But with homeowners increasingly hesitant to plow big bucks into home improvement, even the best contractors might pick up your call before the second ring.
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Original Source: money.cnn.com
Bits Bucket And Craigslist Finds For March 28, 2008
Please post off-topic ideas, links and Craigslist finds here.
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Original Source: thehousingbubbleblog.com
Aim low, sell fast
From the Star Ledger:
Bid for reality
Lenny Klein thinks home sellers could learn a thing or two from eBay.
Nothing draws bidders quicker to an auction than a low opening bid, the real estate agent said. Setting a list price slightly below market value builds excitement and is more likely to create a bidding frenzy — which can ultimately drive up the final price in the end.
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Original Source: njrereport.com
Abandoned homes, abandoned pets
From MarketWatch:
Foreclosing on Fido
Call it reckless abandonment. Shelters and animal rescue organizations across the country are packed cage-to-cage with dogs and cats, even birds and reptiles, that have been ditched or dropped off as scores of foreclosed-upon homeowners relocate. It is a disturbing trend and a sign of the tough economic times that has prompted a number of organizations to form hotlines for pet foster homes and to implore pet owners — or what the industry calls “pet parents” — to seek help for their animals before they head off.
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Original Source: njrereport.com
Been awhile. Let’s do it. Where are we now?
Work with me people, work with me…And remember, this crash doesn’t end until the majority of Americans find their way to “Despondency”. In other words, thanks to cheerleaders at the NAR, the ramen eaters and rolodex-of-reators Catherine Reagor, we’ve still got a long, long, long, …
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HousingPANIC calls for Lawrence Yun to resign from the NAR and become an HP’er
I feel sorry for any fool who takes the “NAR Chief Economist” job. It’s pretty obvious that “sell your soul”, “permanently destroy your future job prospects” and “lie, deceive and distort” are at the top of the job description.Here’s Yun saying that home prices are NOT GOING TO DROP in 2008. He also has a message for Bernanke - stop cutting rates. Why? Because inflation is going to roar, long term bond rates will soar, and a 30 year mortgage will be at a double-digit rate soon enough. And on that, I think we can agree with Yun….
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FLASH: We have our first major mortgage fraud smoking gun: " Zippy Cheats & Tricks"
Hopefully the Oregonian did their homework and verified this document isn’t a fake, but assuming it’s real, it’s the first of many smoking guns to be found - once the FBI and SEC do their jobs and start raiding REIC offices nationwide. And Angelo Mozilo’s home of course……
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The way-back machine has already taken us to 2003-2005 on home prices. So where does it stop? 1999? 1992?
You’ll want to check this article by Jim WillieHere’s a snippet….
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Op-Ed Friday: Will the job market come to this?
It’s Friday, and with all the talk of recession, we have to ask ourselves if the job market will come to this: [Thanks L!]
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Original Source: housingdoom.com
How much is your agent being paid to sell you a house?
The following ad was in M’s junk mail yesterday:
Note this is a "Realtor communication" - not intended for general consumption. Coincidentally once more ARMLS reiterated their policy on listings yesterday- no talking about bonuses:
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Original Source: housingdoom.com
Mishkin: Can Inflation Be Too Low?
Federal Reserve Governor Frederic S. Mishkin spoke tonight: Comfort Zones, Shmumfort Zones. Mishkin tries to answer the question of why 1% to 2% inflation it better than zero inflation: Can Inflation Be Too Low?While the benefits of low inflation are now widely recognized, somewhat less attention has been given to the pitfalls of maintaining inflation rates very close to zero, so I will now discuss this issue in somewhat greater detail. Specifically, if the average inflation rate is too low, then the economy faces a greater risk that a given adverse shock could distort labor markets, induce debt deflation, or cause monetary policy to become constrained by the zero lower bound on nominal interest rates. These risks imply that undershooting a zero inflation objective is potentially more costly than overshooting that objective by the same amount, and that setting the inflation objective at a rate a bit above zero provides some insurance against these risks. …
Original Source: feeds.feedburner.com/CalculatedRisk
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