By The Tim on November 3, 2010
Here is your open thread for the mid-week on November 3rd, 2010. You may post random links and off-topic discussions here. Also, if you have an idea or a topic you’d like to see covered in an article, please make it known.
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Posted in Open Thread | Tagged open_thread
Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market.
Here’s a nice paper. It’s entitled, “Housing in the New Millenium: A Home without Equity is Just a Rental with Debt”
Written in 2001, it talks about the factors that would eventually inflate the RE bubble and destroy the world.
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1162456
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It’s a call option that is badly out of the money.
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The elections last night made me realize that we’re now over two years into a really crappy real estate market. Time flies when you’re having fun!
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RE: Kary L. Krismer @ 3 – It would be crappy regardless of elections outcome :)
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RE: Yerbolat @ 4 –
I Agree
IMO, it all went hay-wire when they laxed up on loan qualifications in the late 90s. Believe me, I blame Bush for a lot of outsourcing and overpopulation problems we have today too…but it was both parties fault IMO.
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RE: Yerbolat @ 4 – I wasn’t trying to imply anything other than the passage of time. It doesn’t seem like the most recent financial crisis started over two years ago.
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RE: Kary L. Krismer @ 3 – This market has been such a blast. Funny how a most of the profits that were made by masses at 5-10% a clip are now done by a few groups who were quick on the trigger and are making 30-40%.
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Really depressing when even the foreclosed homes that banks are listing at 2003 prices seem way too high.
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RE: Herman @ 1 –
He was on CNBC yesterday…a really smart guy.
He was bearish on RE prices.
Has Fraudclosuregate had it’s 15 minutes?
http://www.reuters.com/article/idCNN035768020101103?rpc=44
Probably.
Dirty Clown Renter
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RE: mukoh @ 7 –
OK, you were right, I was wrong.
Getting my license back this week.
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RE: mukoh @ 7 –
If You’re Talking the Stimulus II Stock Market
I agree, but if Stimulus I is in indicator of Stimulus II:
The real estate market will flounder and unemployment will just keep getting worse anyway….albeit the banksters will see profits, until the $600B Stimulus II hay pile is burned up.
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RE: softwarengineer @ 11 –
“unemployment will just keep getting worse anyway”
Pfft may have his faults, but he’s been right about one thing for months now, private sector unemployment has been improving for almost a year, not getting worse. And private sector employment growth is the only one that should matter if one is in favor of smaller government like the new house majority.
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Where’s Pegasus?
I just read Bill Black’s scathing column to send BOA into receivership.
http://www.huffingtonpost.com/william-k-black/foreclose-on-the-foreclos_b_772434.html
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