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Raincity has blocked ALL discussion of interest rates

snigletsniglet
edited June 2007 in Seattle Real Estate
I noticed that Raincity has disabled all comments for Rhonda's regular interest rate postings. They aren't just cherry picking particular comments for deletion anymore.

Unfortunately, the discussions around Rhonda's interest rate postings were the only ones that interested me on the site. All the missives about neighbourhoods, living in Seattle, and ethics, don't interest me all that much.

Comments

  • twistjustytwistjusty
    Why not go to Rhonda's own site and participate in the interest rate topic chatter there?
  • synthetiksynthetik
    Ardull tried to say that comments should be turned off because Rhonda would have a hard time keeping up with them... when Rhonda herself said "oh, it's no problem"

    Obviously the real reason is censorship.
  • kpomkpom
    Yeah - well people in the real estate biz who bought really big houses at the top of the market may be starting to feel like an Enron employee who suddenly notices that not only is their job likely to tank, but all of their net worth is in Enron stock...

    No wonder they don't want to see any real discussion of what rising interest rates are going to do to the RE market.

    It will be funny if the "grad student from Chicago who can still buy a Seattle condo with no money down" on RCG turns out to be a fictional character.
  • AlanAlan
    Grad students in Texas earned a stipend of around $1400/month in Texas (after taxes -- also included health insurance). Her PITI should probably max around $600. Say that condo fees and insurance eat $200 (which is being generous). With $400 she could finance a little under $70k (and that isn't taking into account taxes).

    Say that she has a $50k down payment (which is being generous but not uncommon) and she could buy a $120k condo.

    Redfin shows three units in Seattle proper for under $150k (I believe she has indicated she wants to live in Seattle). Both are under 400 square feet. You can live pretty simply as a graduate student.

    But say she was willing to get a roommate. Average $300/month for rent (because they may move out over the summer or they might be flakey). That increases the amount she can finance to $120k (but makes her dependent on having a roommate). That increases the inventory to nine.

    But maybe she has a line on a fantasticly paying job that will also allow her to attend graduate school.

    It should be interesting to see how she does.
  • synthetiksynthetik
    Say that she has a $50k down payment (which is being generous but not uncommon)

    Not uncommon if you are a completely made up person. Otherwise, 50K downpayment these days is probably nearly unheard of for a first time homedebtor. If she had 50K, she would have already bought a home and been well on her way to FB-dom.

    I doubt she's real but I could be wrong.

    BTW, it looks like they deleted 40-60+ comments from the Rhondas post over at RCG.
    34. Michael Shedlock - June 23, 2007
    Ardell,

    I agree. there are way too many comments on here and maybe they should be turned off.

    I guess they've never heard of "mish" michael Shedlock. heh.
  • EconEEconE
    Maybe she has a sugardaddy!
  • deejayohdeejayoh
    well, at least she took the picture of the girl on the amusement ride off of the post. She used it on the day the story broke about the girl losing her legs at six flags. I'm sure it was an unfortunate coincidence.
  • deejayohdeejayoh
    Oh, and by the way, I posted using the name "Bob Loblaw" and neither Ardell or Rhonda got it.

    They both said "Thanks Bob", instead of "thanks blablalba"

    I wasn't trying to yank their chain, but :lol: :lol: :lol:
  • AlanAlan
    Next time tell them about your law blog.
  • The_TimThe_Tim
    *sigh*

    I miss Arrested Development.

    Curse you, Fox. Curse you.
  • deejayohdeejayoh
    http://www.youtube.com/watch?v=66mu3lwqtbI

    At least I wasn't lobbing a law bomb
  • EleuaEleua
    If interest rates were not a problem, they would welcome comments. SInce they have turned them off, you know they are worried.

    :twisted: :twisted: :twisted: :twisted: :twisted:

    Lovin it!

    Now, if we could get people to go over to

    http://soundbiteblog.com and shake that cage...
  • EleuaEleua
    BTW, Soundbiteblog's latest post seems to be an indirect swipe at the Bubbleheads.

    Just for your information...

    Here is what I posted.
    How much expertise do you have in an economic downturn that is greater than the '81-2 recession?

    What is the history of real estate during periods of severe economic dislocations?

    What was the last period in US history that had: negative national savings rate, negative national home price appreciation, and an unprecedented leveraged stock market?

    Hint: FDR was early in his presidency.

    How much did trendy real estate lose in that decade? Hint: 90%+/-
  • The_TimThe_Tim
    Yup, it's official. No more uncomfortable discussion about rates at RCG:
    Rhonda Porter wrote:
    Note: Ardell suggested that we close comments on Friday's Rates...and so I am giving it a whirl. The rates are being posted in order to provide information and to give you an idea of the direction mortgage interest rates are going. By closing the comments, the rates are effectively becoming a memo or "rate sheet". So if you do have a comment for me regarding rates or mortgage questions simply contact me by visiting another one of my post or send me an email.
  • synthetiksynthetik
    thats-all-folks.jpg

    what a maroon....
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