Monday Open Thread (2011-01-31)

Here is your open thread for Monday January 31st, 2011. 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.

Be sure to also check out the forums, and get your word in the user-driven discussions there!

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About The Tim

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. Tim also hosts the weekly improv comedy sci-fi podcast Dispatches from the Multiverse.

23 comments:

  1. 1
    WestSideBilly says:

    I’m not sure which is worse here, the builder’s actions or the realtor’s description:

    “This distinctive green built residence combines contemporary architectural design and impeccable quality in a peaceful setting with sweeping Sound & Mountain views from every level.”

    http://www.redfin.com/WA/Seattle/10460-47th-Ave-SW-98146/home/18662510
    http://www.redfin.com/WA/Seattle/10454-47th-Ave-SW-98146/home/18662382

    Two basically identical million dollar houses right next door to each other… no surprise they’ve both been sitting there for 18 months.

  2. 2
    Scotsman says:

    RE: WestSideBilly @ 1

    Maybe it’s just that I’m already tired from a long day at work, but coming home to either of those and seeing the climb to my bathroom after getting out of the car would make we want to just sleep in the garage.

  3. 3
    Drshort says:

    Am i looking at the data right? If so the median is in for a huge hit in January…

  4. 4
    Scotsman says:

    Well, this is cheery:
    Housing Armageddon: 12 Facts Which Show That We Are In The Midst Of The Worst Housing Collapse In U.S. History

    “#8 It is estimated that there are about 5 million homeowners in the United States that are at least two months behind on their mortgages, and it is being projected that over a million American families will be booted out of their homes this year alone.

    #9 Deutsche Bank is projecting that 48 percent of all U.S. mortgages could have negative equity by the end of 2011.

    http://theeconomiccollapseblog.com/archives/housing-armageddon-12-facts-which-show-that-we-are-in-the-midst-of-the-worst-housing-collapse-in-u-s-history

  5. 5
  6. 6
    WestSideBilly says:

    RE: Scotsman @ 2 – I’m not a huge fan of sleeping in my car, but I hear what you’re saying… although I think that both houses are basically just 2 story homes stack on the garage, so you’d be climbing two flights of stairs. No worse than many apartments.

  7. 7

    By Scotsman @ 2:

    RE: WestSideBilly @ 1

    Maybe it’s just that I’m already tired from a long day at work, but coming home to either of those and seeing the climb to my bathroom after getting out of the car would make we want to just sleep in the garage.

    You must have owned a house I saw in Edmonds a few years ago. There was a storage area off the garage and they added in just a toilet to that room. I assumed it was for when they got home and really had to “go.”

  8. 8

    RE: Scotsman @ 4 – I’m not sure that is a new Deutchebank study or the one from about a year ago, but any study that attempts to even determine current houses underwater is BS. Also, any study by Deutchebank on anything involving the future is BS. I wouldn’t trust that bank to tell me by bank balance.

  9. 9
    Dirty Renter says:

    RE: WestSideBilly @ 1

    …and bank owned.

  10. 10
    Scotsman says:

    RE: Kary L. Krismer @ 8

    Deutchebank has the note on my soon to be foreclosed home, assuming they can find the paperwork. From the little I’ve been involved (remember, I rent) the seem pretty clueless. Maybe thet’re just really busy- I know they have more than their fair share of homes “coming back” as Ray says.

  11. 11

    RE: Scotsman @ 10 – I’ve also seen their name on a lot of really crappy homes. I’m not sure if they were the entity that originally made the loan, but I’m talking homes that are not even livable, and seemingly were just marginally livable for years.

  12. 12
    softwarengineer says:

    RE: WestSideBilly @ 1

    The 20.3% Spain Unemployment Joke By Bloggers Lately

    Is, when they mention green jobs, it means no jobs, or in this case no home sale. LOL

  13. 13
    softwarengineer says:

    RE: Scotsman @ 2

    Imagine the Chronic Vacuuming and Dusting Conundrum Alone Too

  14. 14
    softwarengineer says:

    RE: Scotsman @ 4

    Don’t Worry Scotsman

    We’ll create a bunch of Green Jobs in America [that all end up in China] to fix the mess.

  15. 15
    softwarengineer says:

    RE: Kary L. Krismer @ 8

    Ditto Me on That Opinion Too

    Only, I’d add in all the world’s banks too. There may be a handful of ma and pa banks in America that actually use risk to assign loans to….if they haven’t all gone out of business because of the mega loose banks absorbing our tax base deficit stimuluses.

  16. 16
    Blurtman says:

    Finally, the kingpins of securities fraud are starting to fall. What a banana republic!

    CHiPs Star Larry Wilcox Sentenced After FBI Sting

    Not even Ponch could get his buddy out of this one.

    Larry Wilcox, 63, once played golden-gloved motorcycle patrol officer Jon Baker alongside Erik Estrada on the hit ’70s series ‘CHiPs.’

    But now, the former actor is in serious trouble with the law, according to NBC News.

    On Friday in Fort Lauderdale, Fla., with his wife reportedly weeping in the courtroom, Wilcox was sentenced to three years’ probabtion — plus 500 hours of community service and a $100 fine — for conspiring to commit securities fraud.

    http://www.popeater.com/2011/01/29/chips-star-larry-wilcox-sentenced/?ncid=txtlnkusnews00000005

  17. 17
    Cheap South says:

    RE: Blurtman @ 16

    Erik Estrada was selling land in North Carolina on infomercials all across the South (2004-2005).

  18. 18
    Ross says:

    Some interesting stats, including the headline that approx 11% of US Houses are empty:
    http://www.cnbc.com/id/41355854

    I suppose that enough for up to 40 million people to live in (though not accounting for homes that need to be torn down due to major damage).

  19. 19
    pfft says:

    By softwarengineer @ 14:

    RE: Scotsman @ 4

    Don’t Worry Scotsman

    We’ll create a bunch of Green Jobs in America [that all end up in China] to fix the mess.

    we are creating a lot of green jobs there is not doubt about it. you may not like it but that’s the truth.

  20. 20
    Lurker says:

    RE: Blurtman @ 16

    Three years probation, 500 hours, and a 100 dollar fine – what a joke.

  21. 21
    Dirty Renter says:

    RE: Blurtman @ 16

    Maybe she was crying cause he didn’t get any hard time.

  22. 22
    Blurtman says:

    RE: Dirty Renter @ 21 – I believe WIlcox was the mastermind behind the Goldman Sachs fraud crime syndicate. He and Jimmie J.J. “Dy-No-Mite” Walker. Blankfein is merely a clueless front man. Jeepers, the FBI is tenacious!

  23. 23
    Pierce Anon says:

    RE: Cheap South @ 17

    According to Wikipedia, Estrada was a spokesman for National Recreational Properties who was selling property in many places across the US, including our very own Ocean Shores, Washington.

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