Eleua
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- Eleua
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What if 5.25% is too low? The US Peso has been tanking for some time. 5.25% IS too low. Currency stability is essential for sustained, healthy economic growth. If they cut to keep us out of a recession, we face currency devaluation along with …
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Sid, What, EXACTLY, do you think will happen if the FED cuts rates? That telegraphs two things: 1. We are in deep doo-doo 2. The FED is not in front of the situation. 1+2=massive panic. The FED cutting rates caused this mess. Go…
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I would say that the strong speculation in RE was caused by a peculiar lack of strong paychecks at the daily grind. Speculation is the symptom.
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CrashCon 3 was set on February 23 CrashCon 2 was set on July 17 http://clearcutbainbridge.blogspot.com
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Hey, if "Val" wants to come over here and chuck knuckles, let me know and I'll join the Donnybrook. You see...some of us can't go over to RCG and challenge them, because we get banned. If we are Rush Limbaugh, who are they? Air America? Q:…
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Perfectfire, You are onto something. Watch the monthly payment and the monthly rent. I was in the Navy, so I have rented from sea to shining sea over a long period of time. My experience showed me that in a bubbly market (California), rents we…
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If you go over to the current thread on RCG, you can see that Ardell is still in denial about what a banking crisis means. She is going off her historical perspective, which is not long enough to encompass a banking crisis of the magnitude we are…
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Everyone can determine what is important to their outlook. The reason the BSC funds are important to me are: End of mark to model. High profile CDO implosion. Gets attention of other CDO bagholders. Feds perk up. It starts to constip…
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BTW, This week long summer storm SMACK-DAB IN THE MIDDLE OF PRIMO REAL ESTATE SELLING SEASON has to suck for RE agents and sellers. At least it will give them some cover when their sales numbers line up for Hep-A shots because they are in the …
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That conversation didn't get me on Dustin's Christmas card list. No, I got nuked over an offhanded statement about immigration patterns in the Western world. I probably should have eased up on the accelerator and kept banging away on interest …
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Wreckingbull, Your memory is steel-trap, my friend. Yes, Ardell did say that she didn't give an RA about credit and interest rates. RE agents are getting a lesson in math and economics. The vortex is tightening, and the turd is about to …
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This is HUGE! We have destroyed many peoples' ability to buy a house while at the same time put many people in a situation where they are forced to sell under extreme circumstances. These sellers will not become buyers. A simultaneous increas…
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You gotta love how Ardell masks her fear with BS optimism. Property prices dropping by 16%, as a result of a stroke of the pen, is not a good thing as far as RE agents go. Wait until the lenders require a no kidding 20% hard cash down payment …
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Matthew wrote: Inventory is already sky high. Squeeze out an additional 20-40 percent of potential buyers, that will be catastrophic. Hmmm...where have I heard this before?
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I think we can be reasonably sure Alt-A is going to follow suit shortly. That means 20-40% of available lending vehicles are out of the market. That's definitely going to have an impact on prices. That is an understatement. Look at all the…
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Perhaps that will happen. What is different is the death of mark-to-model. That is huge. Very huge. Unfathomably huge. As the financial toxic waste gets marked to its correct value (zero), that will start to cause cascading markdowns and …
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When I lived in the Dallas area, I would go for a run around the city where I lived. There was an model house that was open from '00 to '04. No kidding. They always had new RE agents, so I always stopped in for a little air conditioning and free …
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I don't know if I am more giddy with anticipation of this madness being over (and my shorts coming in BIG TIME), or scared of the financial carnage that will befall most of my fellow Americans. Anticipation and fear are very closely related. C…
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It depends on how much leverage the fund had. If they were levered up 13X, the numbers would make sense. There is more to this story to come. Once the BSC hedge funds mark to market, all the other funds out there in CDO land will have to do t…
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This is a perfect time to panic.
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The Institute for Economic Reality has set CRASH-CON 2. BSC is NOT the only grenade rolling around on the floor. Run and hide.
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The close of trading on Friday, and the end of options expiry maybe? Exactly. They will be able to bury the July put holders.
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If you play it right, you can do the 'open house buffet' and go from house to house and eat all the free goodies. The kiddies love it. They get cookies, ice cream bars, juice. I get bottled water, deli plates. I'm waiting for the smoked salmon…
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How bad does this have to be? You would think that if they had it contained, or it wasn't a big deal, they would have released the numbers by now. WTF? My bet is 1301 PDT on July 20.
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Foreclosures of any flavor are indicators of a RE market that is becoming terribly illiquid.
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Gee, all this time I thought we had massive price appreciation because we had a fantastic job market, restricted land use, a massively overeducated population, and geographical diversity. It turns out that we are experiencing a spike in Californi…
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Once someone is upside-down on the house (all their equity is gone), every dollar that comes off the price is eaten by the bank. Yes, the bank can short-sale it and have the IRS stick them with the difference, but you can't get blood from a rock. …
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perplexd wrote: I expect this will be no stickier than what the priced-out-and-buying-more-than-you-can-afford crowd has done. Ultimately, these are exactly the same people who will be having forced sales in a couple years, so there is no reason t…
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I'm with Perplexed on this. Many of us on SB are defacto "sticky buyers." Back to my two factors for a seller: 1) Will the market improve for me? 2) Can I carry the costs until that happens? Let's apply those to the buyer: 1) Will…
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Again, my main prediction is that the interest rate spread between ultra-prime, regular prime, and sub-prime will become huge. Agreed. I am of the belief that it has nothing to do with the borrower, but the underlying collateral that will …