Matthew
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Another thing I have noticed is that the quality of house in Houston is not even comparable to Seattle. In Houston, I lived in a custom built two story brick house with 30 ft ceilings that we sold for 210k. It was literally one of a kind and you w…
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Rmiller, I spent 3 years in Houston as a kid, it was way too hot and flat for me as well, Seattle is very very different. I was raised in very sunny areas (LA, Houston, and eastern Washington) and moving to Seattle has been very difficult for me…
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Can't see any more potential risk???? Can you say "BANK RUN"? Look what happened to BSC today. That could happen to anyone. There is absolutely 0 transparency in the financial markets right now. We are MAYBE, MAYBE, at half of the writedowns w…
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BTW, I still see the CFC BofA deal falling through and CFC becoming a zero.
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David, The main difference I see between the CFC + BofA transaction is that BofA wants CFC's mortgage servicing arm. They already invested a couple of billion into CFC (when the stock was around 18 bucks) so they were somewhat already "pot commi…
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Bili, They are a conduit for BSC to access the discount window today (they can't access the discount window because they are not a bank but a broker, same reason CFC was unable to access the discount window). However, the current rumor is that J…
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My question is, why the hell would JP Morgan want a piece of BSC right now? They are totally illiquid and really offer very little to JPM that they don't already have. BSC is going under, the only question is what will they look like come Monday…
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Faster, Your sig:
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This is my favorite topic, ARM resets. Here are a few of my favorite charts: http://www.financialsense.com/fsu/edito ... 703.h2.jpg http://www.generationaldynamics.com/ww2 ... gchart.gif http://msnbcmedia.msn.com/i/msnbc/Compo ... Chart3…
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laxto, No, my terminology is correct. Lets look at how wikipedia defines deflation: "Therefore, under the usual contemporary definition of inflation, 'deflation' means a decrease in the general price level over a period of time (Barro and G…
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We should first define the terms we are using: Inflation (classical definition): increase in money supply Deflation : decrease in money supply First of all, I would argue that the classical definitions of these terms is far more useful than…
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Ardell, I just assumed that you would be buying in Redmond, probably 2 miles from the MS campus. I think that all real estate professionals will withdraw to the safe confines of the Walls of Microsoft, to make one final stand against the evil fo…
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Currently renting a 350,000 dollar condo in Belltown for 1,200 a month (includes garage parking). Wow renting is so dumb!
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Do you have the address or MLS #?
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Something tells me that she is selling because her Subprime/Alt-A/Option ARM is about to reset. She is trying to sell it for 999,950. "Selling for over a million would take a lot more work".
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Did you read the entire article? Jubak does a good job of explaining why cutting rates is going to hurt. Instead of writing down all of their losses in a quarter or two, banks are going to hope that the Fed keeps cutting rates more and more, in th…
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Sniglet, Why does dropping the rate help the economy? This isn't your traditional economic slowdown. The problem is not that the economy needs more cash, the problem is that there are a bunch of toxic loans clogging the system up. The Fed need…
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The building looks nice. Its close to my work which is nice. The only problem is that its so close to Pioneer square but yet doesn't really have that many restaurants/stores within stumbling distance. I would consider it but not at the current pr…
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I have a boss that lives there, definitely not sold out. He has moved in, said that there are still a lot of expensive units still for sale. Last I heard it was something near 75-80 percent sold. Not sure how many that have sold now, but I beli…
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That post pretty much sums up why I very rarely go on that blog anymore. Still to this day people are in denial. I think even when faced with 10% yoy corrections and major bank insolvency they would be finding reasons why it is a "good time to buy…
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I have wondered about this myself... When the bubble in Seattle pops, will there be no more need for SeattleBubble?
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CFC = Enron
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P/E looks decent from a historically perspective because of the flow of easy money in the system. Bye Bye E. Bye bye market gains.
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I see BROKE people!!!!!
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We fight long and expensive wars and engage in senseless nation building?
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All the market bulls still believe that we are in a thriving "global economy" and that despite some subprime hassle, the market is still strong. What they don't realize, is that we are probably in a recession right now, but that the indicators are …
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I wonder why Jim Cramer wasn't in a picture taking mood... Could it be because of the world wide credit crunch that is taking place and the fact that the "four horsemen" are about to be dismounted??? BOO-YAH! I agree with Rose-colored... Seatt…
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Redmonjp, But Ben Bernanke says that mortgage equity withdraw (MEW) is not as big of a factor in our economy as is home prices!! Don't you believe Big Ben?!
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E- was that the conversation that got you banned from RCG? Rereading some of my comments in that thread I'm surprised that I didn't get a talking to as well. Dustin, aka Captain Censorship deleted about half of my comments in that thread. I ca…
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18. Eleua - February 27, 2007 Ardell, Banks that lend to the Great Unwashed so they can buy the homes you are selling are a subject you need to give a lot more attention to than just a RA. If a bank books 2/3 of it's profits on money it has n…