Comments on Doctor Housing Bubble Blog: Real Buyers of Genius: Another $20,000 a year per...

To Jessica:The median prices are going up in your ...

2007-07-02T20:02:00.000-07:00

To Jessica:

The median prices are going up in your area because lower-end buyers have been blown out of the market, and only high-income buyers remain.

Here in Chicago, moderate-priced condos and houses are languishing on the market for 180 days to 600 days, but downtown condos in the $2MM and above range are selling quickly. Those are the people who can always buy no matter what.

Fewer lower-income buyers vs high-income buyers means higher median prices.

After tiring myself out trying to figure out what ...

2007-05-21T08:13:00.000-07:00

After tiring myself out trying to figure out what the heck this dude Casey Serin is actually up to, I finally found a place that catalogs his activities, history, associations, and purpose.

The site bills itself as "the leading semi-satirical wiki about foreclosure blogs", and I'd say that's accurate, given the predictably rather vertical market for "semi-satirical wikis on the topic of foreclosure blogs." Still, it's a good read.

Address:
www.caseypedia.com/

Hotlink:
Casey Serin

This as "straw-buyer" written all over it.

2007-05-18T09:47:00.000-07:00

This as "straw-buyer" written all over it.

Only three of the presidential candidates have the...

2007-05-12T23:31:00.000-07:00

Only three of the presidential candidates have the balls to free us from our wage and debt enslavement under the Bilderberg plantation lords.

For the Democrats -- Mike Gravel and Dennis Kucinich are the only good choices.

But since Republican Libertarian Ron Paul would immediately abolish the Federal Reserve Act -- he'll get my vote. I can think of only one area of disagreement with Dr Paul:

Backing our monetary system with gold is probably not the wisest move. I'm sure most of you have read about the gold confiscation during the Fed-engineered Great Depression... David "Welfare Queen" Rockefeller and friends would do it to us all over again, just like his criminal father did.

No more federal income tax and no f***ing more inflation tax -- I'm tired of supporting David Rockefeller's lazy, useless ass.

Dr. Ron Paul for U.S. President in '08.

markus arelius,Again a symptom of not teaching bas...

2007-05-10T11:46:00.000-07:00

markus arelius,

Again a symptom of not teaching basic financial education in high school. Most folks get their financial 101 via Visa and MasterCard. Yet we are reaching a critical tipping point where people realize this has to end and no nation can survive on continually running deficits. Many say "who cares, we've been doing it for years" but this short-term mentality is naive and absolutely irresponsible. A mentality that is reflected with the current administration.

anons,

We love America and it pains us so to see such idiots running horrible financial policies. The Republican party used to stand for fiscal conservatism but the way they are running the country we have never spent so much with such little productivity. Again I think the inflation tax is a subliminal way to tax the masses without an uprising. Ask 10 people to explain inflation to you and you'll get 1 person who understands it. The rest will think inflation means getting a boob job with an air pump.

socalwatcher,

You're right about that. In a democracy we have the right to vote and do retarded things. We'll be facing the consequences of this financial orgy for years to come. There is no way outside of hyper-inflation or deflation to come out of this. The Fed is like a deer in head lights not changing their policy. They need to protect the dollar but they careless and feel that after 5 years inflation will eat away at this crap. Stagflation is their mantra.

Carlivar and Make Mine a Bubble,

Ron Paul rocks. He makes sense. He is fiscally responsible. Hell, he said he would abolish the IRS if he were elected! Those are some balls. He is a true libertarian. Even voted against the massively expensive war which of course has been unbelievably successful.

He has no chance because again the masses are dumbed down to the point of Zombies. We understand him because we come from the same school of thought. Fiscal responsiblity and understand some rudimentary items regarding economics. But can you imagine him educating the public about inflation? Unless he ties in Paris Hilton or American Idol most folks will not understand him and see him as extreme (which the party will paint him as such and character assassinate him).

But the good news is that he did amazing on the debate. While everyone was sucking at the teet of Reagan, Ron Paul was preaching the Gosple of Truth and educating many in the public of issues they never thought about. His ratings went through the roof. Hands down he won the debate and even the online MSNBC poll has him as the highest rated candidate on the debate in terms of folks having a positive view on him

2008 will be a critical year because the bubble will be bursting, the war is dragging out, and the bill is coming to the American tax payer. One thing the masses do understand is higher bills. Time to get educated and lead this country to a better place.

Anonymous, "median" is a very poor statistical ind...

2007-05-09T10:09:00.000-07:00

Anonymous, "median" is a very poor statistical indicator. That's the point at which half the homes are higher and half the homes are less. It just means more higher-priced homes have been selling. These are the last to head down since the "first house" people are the ones going under right now... but don't worry... it will get to the high-priced stuff. Just wait. Inventory and number of sales are the main indicators right now (the tip of the iceberg).

Same shit happened in the 80's and early 90's but ...

2007-05-09T08:58:00.000-07:00

Same shit happened in the 80's and early 90's but it wasn't this bad. All I kept hearing during the boom was "it's different this time".

NEWSFLASH: It is never different this time. It's just another generation of morons.

http://denverrealestatebubble.blogspot.com/checkou...

2007-05-09T04:35:00.000-07:00

http://denverrealestatebubble.blogspot.com/
checkout my blog...keep up the good work!

Jessica - I'm seeing LA median down 6% from last y...

2007-05-08T22:35:00.000-07:00

Jessica - I'm seeing LA median down 6% from last year (www.housingtracker.net). Where did you get your numbers?

Oh man, I am SO WITH YOU Dr. HoBub! I feel not one...

2007-05-08T19:27:00.000-07:00

Oh man, I am SO WITH YOU Dr. HoBub!

I feel not one single twinge of pity for Little Miss(informed) Grad Student.

To your point: I couldn't believe this article in the LA Times today (okay, I COULD believe it...but still!) It said that non-mortgage consumer debt went up 6.7% in the last year! The idiot MSM attributed it to the low unemployment rate in the country.

Um, hello? I attribute it to putting groceries and the car payment and doctor's visits and gas on good ol' Mastercard because you're so SCREWED by your suicide mortgage you can't come up with the cash for essentials!

That...or you're so up a creek you just go on a mad shopping spree you can't afford to immerse yourself more deeply in D-E-N-I-A-L. I'm sure the bling takes the edge off the creditor calls.

Carlivar...I am so with you. I just went to the Ron Paul website and donated $$$ to his campaign. (See, when you rent in today's day and age, you actually have money in savings to do such things).

:-)

I have LOVE Ron Paul since his Libertarian Party days and will totally vote for him, if given the chance! Rock on!

MMAB

PS: People...register with an actual NAME so we can address one another. All the ANONS are getting confusing, up in this site. Thanks!

Quick question for you experts out there...If the ...

2007-05-08T18:56:00.000-07:00

Quick question for you experts out there...

If the realestate bubble is getting ready to bust in a big way, why do most of these figures continue to go up?

Updated 4-12-2007
March 2007; Data Median; YoY
Los Angeles; $540,000; 6.3%
Orange County; $629,000; 0.6%
Southern Cal total; $505,000; 4.6%

Thanks guys,
Jessica

I've been watching this bubble for the last 8 year...

2007-05-08T14:44:00.000-07:00

I've been watching this bubble for the last 8 years. I've got friends who bought the "if you don't buy now" blather from the Reamtors. I watched others pull money from accounts to buy multiple investment properties. I warned them all. Everyone thought some sort of financial paradym change was happening. Interest only loans with no money down will become the norm...etc. Where has sanity gone? I think this place is one of the few where sanity reins. Thanks for providing some shelter during the storm.

Did you know that everything you said is what Ron ...

2007-05-08T13:24:00.000-07:00

Did you know that everything you said is what Ron Paul thinks too? He's the only politician raising alarms about inflation (and fiat money in general).

www.ronpaul2008.com

Check him out in the debate:
http://www.youtube.com/watch?v=peBGJwE9NXo

He's the only one that mentioned inflation.

He wants to get out of Iraq, adapt a non-intervention foreign policy. He also voted against the Patriot Act and refunds the unused portion of his congressional office budget every year.

Hey, it costs alot for us to be free. Stupidity is...

2007-05-08T13:16:00.000-07:00

Hey, it costs alot for us to be free. Stupidity is an unfortunate by product of democracy and capitalism.

Great insight, Dr. HB!! Keep that keyboard going buddy!

I love America, the constitution, the bill of righ...

2007-05-08T12:06:00.000-07:00

I love America, the constitution, the bill of rights and individual freedom, even the freedom to be stupid. Let the people who made the loans lose money as they deserve to. I've been a real estate investor for 30 years, guess what, back then you needed 20% down, 25-35% down if it was an investment.
"If you've got nothing, you've got nothing to lose." These buyers were gambling, and they did not use their own money.

When things get back to normal in 5-10 years, you will need 20% down and prices, or the value of the dollar, will be much , much lower. My quess would be 10 to 50% of current "value".

Why do you hate America?Seriously, Dr. HousingBubb...

2007-05-08T11:37:00.000-07:00

Why do you hate America?

Seriously, Dr. HousingBubble, you have my vote.

Great post! And very true. Most homes where I liv...

2007-05-08T11:36:00.000-07:00

Great post! And very true. Most homes where I live are around that price range,$600k to $750K. We are talking 3 to 4 bedroom single family cement shitboxes too.
I never understood how anyone making $55K or even $100K can afford a $600K home, and stay afloat month to month financially.
The borrowers should wear a scarlet letter for years due to their arrogance and stupidity. The lenders should indeed pay the difference for their negligence of proven and sound business practices. At some point people are going to ask the question: "God, what happened to us?". Greed and financial retardation is destroying the American nation.