Tuesday, November 20, 2007

Lereah's Book in 2005


  1. That poor family is priced out forever...

    "A class of perpetual renters will have been created where its members can never work their way out of their condition." Lance June 23 2006

  2. Ha ha, anyone remember the spoof that someone did on that book cover? It showed a house in collapse with a little girl running screaming. The title said something like "Why the housing market has collapsed and how I became an asshole". Ha ha. If anyone still has that please post.

  3. RE: Lereah's book


  4. Looks like, if that house falls right, it'll crush that family. (depending which way it falls.)

  5. Yes, I'm missing the RE boom, it's been MIA for over 2 years now. Back then, none of this declining values stuff, and stocks were nothing but up.

    Ah, how I miss it...

  6. anon 2:32 PM:

    You rock, that quote is priceless. If we were to make a chronoligical list of lance quotes it mike make for a good comedy sketch.

    Seriously, he has made some outlandish claims..

    Bidding wars were going to return in may.

    Bubbleheads caused the bubble to deflate, of course now he claims there never was a bubble even though everyone on on the planet agrees there was a bubble... Delusional.


  7. IN 1929, days after the stockmarket crash, the Harvard Economic Society reassured its subscribers: “A severe depression is outside the range of probability”. (From the economist article provided by James.)

    Whew, glad to hear their predictions on recessions are so good too. ;)

    The oil price has risen mainly because of strong demand in emerging economies, which have accounted for as much as four-fifths of the total increase in oil consumption in the past five years. In past American recessions the oil price usually fell. This time it is likely to hold up.
    Now this is the killer. I predict $120/bbl by next summer. :(

    But hey, buy now or be priced out forever! ;) Or... wait until 2010 and buy a home and a vacation condo for less than either sell for today. :)

    Got popcorn?

  8. The Wall Street Journal
    November 20, 2007, C1

    If Home History Repeats Itself, Then Look Out

    "Today an unprecedented number of homes don't have anyone living in them. According to the Census Bureau, 2.7% of U.S. homeowner inventory (which excludes rentals, vacation homes and homes that are sold and awaiting occupancy) is vacant and for sale. Before last year, that figure had never been higher than 1.9%. Just to get the vacancy level back to that point, the market needs to absorb more than 500,000 empty homes."

    Chew on that.

  9. I want to wish everyone a happy Thanksgiving. May you and yours be safe through the holidays.


  10. "wannabuy said...
    I want to wish everyone a happy Thanksgiving. May you and yours be safe through the holidays.


    Same wishes to you and yours Neil.