sniglet
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Charles Dean wrote: If you really like the place and don't see yourself moving for at least 5 years, I'd say go for it as long as it's a reasonable price. The way the current market is, I always suggest that people not buy unless they plan on liv…
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WestSideBilly wrote: I'm quite certain the millions of people employed by NRA, WPA, TVA, etc who were able to eat and have a roof over their head were MUCH better off for the New Deal. Maybe if the government hadn't siphoned money out of th…
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If you really like the place, and you feel there is a purchase price that would fit very comfortably into your budget, then by all means go ahead and negotiate a short-sale with the bank. However, make ABSOLUTELY sure that a 50% decline in value fro…
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It's amazing that oil prices keep falling even as traders are siphoning off some 70 million barrels into storage, hoping for future gains. This is extremely bearish. Not only does this indicate that demand destruction must simply be enormous (so muc…
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FreedomLover wrote: Bottom line is that Wall Street funny money era is dead. Barack Obama is going to regulate the hell out of those greedy bastards once and for all. In fact the best thing we could do is shut it down and turn the NYSE building in…
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TJ_98370 wrote: what singlet and mukoh are suggesting implies rampant corruption IMO. I can't speak for Mukoh, but I am not really suggesting "corruption" at all. I am simply saying that after the good times have gone on for long enough soc…
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plymster wrote: In my opinion, the complete breakdown of our law enforcement system is the most impactful difference between now and the Great Depression. It is the ultimate cause of our economic downfall, and until it is solved, the US will neve…
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rose-colored-coolaid wrote: I think a good rule of thumb is that in any domain where a common resource is being exploited, government intervention is not necessarily a bad thing. Actually, there is a considerable amount of disagreement as w…
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TJ_98370 wrote: aren't regulators supposed to be immune to the influences that affect bank CEO's, investors, etc? This is the theory, but the reality is that the regulators are simply a product of the society they live in. Given enough year…
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TJ_98370 wrote: Investment bankers got into trouble because they relied too heavily on their proprietary models without sticking their heads outside the window occasionally to see which way the wind was really blowing. While this may well b…
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buyStocks wrote: there is actually a way to avoid these economic disasters; immortality. Hmmm... That would help, but not solve the problem entirely. I think the issue is that you need a certain percentage of the population that has PERSONA…
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ira s wrote: Is it even possible to "fire" an agent? Absolutely. Clients fire agents, and agents fire clients.... If, however, the original agent is the "procuring cause" for the client finding the property, he/she may legally be entitled to…
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explorer wrote: ...and when mortgages fall to close to the CURRENT rents (which will fall from the CURRENT rates), THEN, with CURRENT income, people will buy. Huh? People will always compare the cost of buying a home to the rents on offer a…
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Both rates and rents will fall!
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Is it even possible to "fire" an agent? Isn't there some code of conduct that prohibits other agents from working with a property and customer that another one has already been working on? If Hector went to a different agent, asking them to make …
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rose-colored-coolaid wrote: I think what's happening is closer to seller's remorse (before the actual sale). I Want $500K, finally my agent convinces me we might sell at $470K, but a day after lowering the price it's driving me crazy and I demand…
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rose-colored-coolaid wrote: Here we are 75+ years later and nobody is really certain how much good or bad it did. It's possible that 75 years from now history will be split on whether the banking bailouts saved the world's economy or were a stupi…
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acordeon wrote: Do you really think it's so unlikely that rates could stay flat or even fall? Yes, I believe rents will fall substantially over the next 4 years. As the economy worsens more people start doubling up, living with relatives, e…
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Yes, the VaR (value at risk) models used by Wall Street were flawed, but that misses the bigger point. The generally bullish societal attitudes that had been building for 50+ years were only looking for excuses to justify excessive risk-taking. The …
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It is pretty much impossible to prove whether the New Deal prolonged the depression. On the other hand, I think it is hard to show that it shortened it either. The fact that FDR, and the New Deal itself, were popular doesn't mean anything. It is …
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I agree that "Wall Street" engages in a lot of sleezy behaviour, and often acts more like a con-artist than a sound money making institution. That said, I am reticent to put too much blame for the depression on banks, brokers, and investment bank…
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What the ultimate form of banking will be when we emerge from the depression is difficult to foresee. However, the general course of the downturn is eaiser to predict. Don't forget that the ULTIMATE end-game is to see the savings rate rise substa…
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Charles Dean wrote: If I remember right, all banks in Canada are nationalized. Not true. While it's true that Canada's banking system is far more centralized than the US (i.e. with just 3 big banks covering 80% of the market), the governmen…
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The number of listings in 98008 took a dive in the new year. We are sitting at 128 listings for 98008 as of January 5th. Through the end of December we were in the 140 to 150 range, but a number of listings must have expired right at the end of the …
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Don't pay much attention to Black Friday sales statistics. There is a LONG history of bullish Black Friday results but over-all dismall holiday spending. I've read articles explaining how the Black Friday statistics methodology are spurious at best,…
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jon wrote: some trust bought the property because of a default on the mortgage Is this some kind of invesment group that is trying to bottom feed, buying foreclosed homes? Or is this some kind of paper shuffling game to allow the bank to av…
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Actually, Peter Schiff has been spectacularly wrong! He has been proclaiming the end fo the US dollar and assets for ages, extolling the virtues of Asian stocks and precious metals. Instead, what we are seeing is that ALL the world's economies ar…
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deejayoh wrote: So if last year's inventory was a record, how much higher do you realistically expect it can or will go? I agree that there is likely some sort of limit as to how much the inventory will grow, even if the market continues to…
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FreedomLover wrote: 153 is a lot. Buyer's market. We are only some 30 listings or so more than where we were in mid-November last year (look at the earlier posts in this thread). Sure, it's higher than normal but not hugely greater than las…
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We are at 153 listings on ZipRealty for 98008 today. Inventory is definitely declining for the winter.