Friday, August 27, 2010

CNBC housing market discussion

9 comments:

  1. Wow! Pick up the Washington Post today. It's a Friday edition but you would swear it was Sunday because the paper is so thick! Why you may ask? Because there are 44 pages of foreclosed properties available through trustee's sales. Looks like the dumping has begun in full force!

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  2. Wow! Pick up the Washington Post today. It's a Friday edition but you would swear it was Sunday because the paper is so thick! Why you may ask? Because there are 44 pages of foreclosed properties available through trustee's sales. Looks like the dumping has begun in full force!

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  3. Its about time if they do. They have squeezed off inventory so tight, why not put some homes out there and see what happens? If they sell, and prices maintain, great! If they dont sell and prices start to swoon, go underground again, just like they did in 2009.

    Either way, lets get this thing going!

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  4. Heh.. i just bought popcorn.

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  5. I can't even listen to this Ken guy - what a joke. Looser credit is the problem? Without people in stable jobs in a growing economy, none of the rest of this sleight of hand will work. Not even in the short run.

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  6. THAT CHICK IS HOT!

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  7. The most ABSURD real estate bubbles have been going on in India and China for the past 20-30 years, where homes have appreciated about a THOUSAND times. A one thousand US dollar investment in India's metro real estate in the 1970s is now worth more than a million US dollars. Home owners in India and China are unbelievably rich and are far more wealthy than their Western counterparts. Despite the ABSURD appreciation in the past 30 years, the mentality in India and China is that real estate is the easiest and best form of investment, with values doubling every 2-3 years. Note that these so called homes in India and China are small, with little features, very low quality, have no good infrastructure and so filthy that no sensible person would spend even a 100 bucks on, yet are being sold and bought for millions of dollars each in the greatest PONZI game ever played. Note also that the median income in these places is still just a few thousand dollars per year, yet the median home prices are about a million dollars. This PONZI game has created inflation, which then fuels the PONZI game even more and you get the idea. Compare all of this to the United States. Homes have hardly even tripled in value in the last 30 years, and yet, we are quick to point this out as a bubble. We are playing the reverse PONZI here, where we want to destroy absolutely fabulous homes to complete worthlessness. A regular 2000 sqft 4-BR American home would cost several million dollars everywhere in the world except in the USA, where it costs a measly USD 200000. Yep, Americans want everything for free. If it is not free, it has to be a bubble.

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  8. Rob you are an IDIOT! Who is paying a million dollars for a filthy, very low quality home in India? Do you even know anyone in India?

    Bill

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  9. Bill, I do not want to stoop down to your level with the name calling. I have travelled to India several times and was there just a few weeks ago. Who is buying? Speculators, politicians, and their ilk...remember that I said that it is the greatest PONZI scheme ever devised or run? The price today does not matter, as it will be jacked up a lot to sell to the next sucker in the scheme.

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