jon
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Plenty of small banks function excellently, and the service provided is practically a commodity. The nationalization of housing finance will lead to large banks, because that's the way the government works. For example, the defense industry c…
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The bank mergers are combining regional banks into a few national banks. There isn't a monopoly yet, so there isn't any application yet for anti-trust. There does need to be more enforcement and investigations of fraudulent lending, not to mention f…
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If the map is accurate, then even the scant information provided constitutes "creative advertising": that is not a corner lot. If you switch to road view, what is apparently the driveway is actual road. Corner lot sounds better than "house si…
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That graph looks like about $220B of mortgages. If they are $200K on average, that is about 1 million houses. At the current rate of 4.5 million sales per year, it is about 3 months of inventory spread out over 30 months. By comparison, there were 1…
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Also, hasn't wage growth in general has been stagnant during the Bush years? Some Americans are much better off since 2004, but it's difficult to believe that group forms a majority. According to http://www.census.gov/prod/2008pubs/acs-09.pdf…
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Going from $405K to $1M over 15 years is a little over 6% per year. That seems very doable, especially if he is putting work into it. Only problem is that in 15 years $1M won't be what it used to be.
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What is the bump in payment that the alt-As will be facing? With 5 years of salary growth since they got the mortgage it seems like they should be able to handle a switch from IO to amortized. Although they will be underwater, I would expect many in…
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http://www.page2live.com/2008/12/16/mad ... #more-2687 While Realtors are lining up to grab the expected sales of mansions whose owners lost the millions they invested with the disgraced Wall Street big, one scene at Mar-a-Lago Saturday night il…
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Feds Charge: The $50 BILLION Scam http://abcnews.go.com/Blotter/story?id=6444781&page=1 Wow. just wow.
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The builder is asking $560,000 for it, despite the fact that the all-but-identical house they built immediately next door just sold in October for $530,000. The other house has .25 acre where the unsold one has .35 acre. More importantly it l…
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"loan has been modified & for the remainder of the loan your payments will reflect the current value of your home, not the original amount we loaned you." They will do that soon. But the complacent media will call it "eliminating the unfa…
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Seattle now lacks a big financial presence, and banking is immensely profitable. This is probably worst than the dotcom bust (which wasn't too bad). If WaMu was immensely profitable, then JPM wouldn't have been able to buy a whole bunch of va…
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Your fruitcake neighbor has been living there so long without paying rent that she is now claiming that she owns her apartment by adverse possession. Stay as far away from her as you can. Since she is threatening you with some penalty, you need t…
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If you keep clicking through parcel viewer, some trust bought the property because of a default on the mortgage. I googled the grantee "mortgage loan asset backed certificates" and found this interesting class action lawsuit on a similar entity h…
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Some speculation here what a depression would look like: http://www.boston.com/bostonglobe/ideas ... ?page=full Thankfully the price of oil has dropped and so we aren't sending quite so much money to countries fomenting violence. The economic …
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1) Only the cheaper (or shoddier) houses are selling. Some (many) sellers are delusional, they put their house on the market for too much $$$ which raises the list average but not the sales average since these overpriced houses are simply not sellin…
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Been to the huge Boeing facility in Renton at the south end of Lake Washington lately? Most of it is now shopping centers and apartments. The rest will be soon enough. They say the Renton facility is going to keep running as is at least throu…
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CalculatedRisk has an interesting chart http://calculatedrisk.blogspot.com/2008 ... wners.html 48% of Nevada mortgages are underwater.
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I think we are talking about different time periods of the graph. What really caught my eye was that $/sqft sold switched to being higher than asking in all three cities starting in July 07. I don't think that was a case of people offering more …
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The fact that $/sqft spiked up last summer suggests it was a shift to smaller houses when jumbo loans froze up. Sellers in Bellevue and Kirkland are probably waiting for all those new office buildings to open up. I'm not sure what the effect w…
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I clicked on one of those links and saw the property description Parcel Legal Description SEC 31 TWP 27 RNG 4 QTR SW - HANBURYS SOUND VIEW TRS BLK 020 D-00 - TH PTN OF LOTS 4 & 5 BLK 20 EXC N 166.50FT AS MEAS ALG E LN OF W 190.92FT A…
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With that guy's attitude towards his neighbors, I hope he loses his shirt. I feel sorry for his kids. Living with a guy like that can't be fun either. There a several houses like that going up now along West Mercer Way that I see on my bike ride.…
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Geothermal, wind, solar, tidal, coal carbon recapture, more drilling and new forms of ethanol. Just one way won't do it. Exactly why "drill, baby, drill" is so idiotic. Not sure if you are aware of this, but "drill, baby, drill" doesn't mean …
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Solar power is viable today. It has been viable for decades, but just too expensive. While we could switch to solar by fiat, if the US becomes economically uncompetitive because of the higher costs then it just won't work. Furthermore, if sol…
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Anyone ever read much on Brazil and how they became energy independent? Not much, but a quick google shows that US per capita energy consumption is about 10 times what it is in Brazil. Brazil has large amounts of hydroelectric power, and has …
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the kind that comes largely from the sun or the atom and not the kind where Alaskan oil covers 1% of our demand True, and it looks like solar is getting close to viable. In the meantime, every billion dollars worth of oil we get from Alaska i…
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They still have no idea what they are doing http://biz.yahoo.com/ap/081025/meltdown ... ilout.html They are doing such a great job with this, we should let them take over health care too.
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Have the banks started doing HOPE loan modifications? If so, your friend probably didn't understand that she is giving up 50% of the future appreciation on the house. It's probably still a good deal, but it is something to be aware of.
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I know meds are one of the biggest reasons why medical costs are constantly rising at 3-4 times faster than inflation. Medical costs have been increasing in the 9-12% range recently. Our life expectancy has been increasing at a pretty amaz…
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What is your source for that 1/3 of budget on marketing? From what I can see, the total US sales is $289B (2006) while marketing is $12B (1998). Of that $12B, half is for free samples of their product (http://med.stanford.edu/news_releases/2003/may/…