Comments on: Crazy RealtorSpeak of the Day http://www.socalbubble.com/2007/02/crazy-realtorspeak-of-the-day.html Southern California is Experiencing a Real Estate Bubble like never before Fri, 04 Feb 2011 01:16:46 -0700 hourly 1 http://wordpress.org/?v=3.1 By: LAEF2 http://www.socalbubble.com/2007/02/crazy-realtorspeak-of-the-day.html/comment-page-1#comment-1320 LAEF2 Thu, 22 Feb 2007 18:56:08 +0000 http://www.socalbubble.com/2007/02/crazy-realtorspeak-of-the-day.html#comment-1320 Cortez, We are not really sure about the timing or depth of the crash . Generally these things start on the fringes and the market eats away from the bottom. We are looking at it and saying the fundamentals of the housing market are unsound. When we talked about the fundamentals of internet companies or telecom companies being unsound it came across as being a bunch of losers who didn't buy in to the tech market. That was until it became unhinged and crashed in 2000-01. Then people suddenly understood the PE of 1000 meant there would NEVER be a decent ROI and it was a pyrmid scheme. Poof, people watched a lot of wealth disolve. We will see the same constriction in housing but the time it takes will be longer. The feedback mechanisms to the general economy are already in place. It just will keep hitting us wave after wave for years. Your going to see zero appreciation and lower and lower sales. Then more forclosures... less consumer spending as mortgage equity slows... Cortez,

We are not really sure about the timing or depth of the crash .

Generally these things start on the fringes and the market eats away from the bottom.

We are looking at it and saying the fundamentals of the housing market are unsound.

When we talked about the fundamentals of internet companies or telecom companies being unsound it came across as being a bunch of losers who didn’t buy in to the tech market. That was until it became unhinged and crashed in 2000-01. Then people suddenly understood the PE of 1000 meant there would NEVER be a decent ROI and it was a pyrmid scheme. Poof, people watched a lot of wealth disolve.

We will see the same constriction in housing but the time it takes will be longer. The feedback mechanisms to the general economy are already in place. It just will keep hitting us wave after wave for years.

Your going to see zero appreciation and lower and lower sales. Then more forclosures… less consumer spending as mortgage equity slows…

]]> By: Chuck Ponzi http://www.socalbubble.com/2007/02/crazy-realtorspeak-of-the-day.html/comment-page-1#comment-1319 Chuck Ponzi Thu, 22 Feb 2007 18:46:25 +0000 http://www.socalbubble.com/2007/02/crazy-realtorspeak-of-the-day.html#comment-1319 As my dad used to say: <i> Paper will stand still for anything. </i> Even idiots get published... how do you think I got this blog? Chuck As my dad used to say:

Paper will stand still for anything.

Even idiots get published… how do you think I got this blog?

Chuck

]]> By: Dr. Housing Bubble http://www.socalbubble.com/2007/02/crazy-realtorspeak-of-the-day.html/comment-page-1#comment-1316 Dr. Housing Bubble Thu, 22 Feb 2007 17:52:48 +0000 http://www.socalbubble.com/2007/02/crazy-realtorspeak-of-the-day.html#comment-1316 Yup, the “not gonna happen here cuz we different” crowd. Tokyo once believed this too, heck the city itself was once worth the entire state of California. Maybe Newport will be the beacon of hope in this bursting bubble; the walls will crumble elsewhere but not in the OC. How fitting that the show is ending this week as well. Yup, the “not gonna happen here cuz we different” crowd. Tokyo once believed this too, heck the city itself was once worth the entire state of California. Maybe Newport will be the beacon of hope in this bursting bubble; the walls will crumble elsewhere but not in the OC. How fitting that the show is ending this week as well.

]]> By: oscar cortez http://www.socalbubble.com/2007/02/crazy-realtorspeak-of-the-day.html/comment-page-1#comment-1315 oscar cortez Thu, 22 Feb 2007 17:50:06 +0000 http://www.socalbubble.com/2007/02/crazy-realtorspeak-of-the-day.html#comment-1315 how come prices are still going up on the westside of los angeles with multiple offers? i don't understand -- it is illogical. how come prices are still going up on the westside of los angeles with multiple offers? i don’t understand — it is illogical.

]]> By: Bubble Sitter http://www.socalbubble.com/2007/02/crazy-realtorspeak-of-the-day.html/comment-page-1#comment-1306 Bubble Sitter Thu, 22 Feb 2007 05:05:54 +0000 http://www.socalbubble.com/2007/02/crazy-realtorspeak-of-the-day.html#comment-1306 That is nothing. Check out what we came across in the San Diego newspaper North County Times: http://www.nctimes.com/articles/2005/12/11/business/chamberlin/19_31_2212_10_05.txt Here are some of his pearls of wisdom: "Foreclosures are lower today than they were a year ago. Only 1.94 percent of personal loans are delinquent. And only 0.43 percent of home equity lines of credit are past due, meaning that 99.57 percent are paying the loans on time." "I'm tired of people trying to compare real estate today to the tech stock debacle of 2000. Bubbles occur when there is a mania. Investors back then were clamoring to buy any tech stocks at any price." "'m not trying to be a cheerleader for real estate. If you think prices are going to tumble, by all means, get out. Go rent, do whatever you want. But all I ask is that people who attack prosperity ---- mostly Wall Streeters who want you to take the money from your house and buy stocks" That is nothing. Check out what we came across in the San Diego newspaper North County Times:

http://www.nctimes.com/article....._10_05.txt

Here are some of his pearls of wisdom:
“Foreclosures are lower today than they were a year ago. Only 1.94 percent of personal loans are delinquent. And only 0.43 percent of home equity lines of credit are past due, meaning that 99.57 percent are paying the loans on time.”

“I’m tired of people trying to compare real estate today to the tech stock debacle of 2000. Bubbles occur when there is a mania. Investors back then were clamoring to buy any tech stocks at any price.”

“‘m not trying to be a cheerleader for real estate. If you think prices are going to tumble, by all means, get out. Go rent, do whatever you want. But all I ask is that people who attack prosperity —- mostly Wall Streeters who want you to take the money from your house and buy stocks”

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