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Tuesday, September 29, 1981

Friday Open Thread

This is your open thread for today. Please post random links and off-topic discussions here.

6 comments:

Christina said...

How long will housing slump last?

plymster said...

Nice post S Crow. National builders are hemorrhaging money elsewhere, so they need capital NOW. As a result, they'll lower prices in Seattle to get it. This will result in downward pressure on homes/condos in the area, killing the specuvestors, and driving the market down even further.

Denial and stubbornness will keep the Seattle down RE market "sticky", but as the housing-led recession hits, those $200K households will vanish, leaving no one left to buy the inflated homes.

The dominos are falling.

Matthew said...

http://www.clubvibes.com/forum/topic.asp?topic_id=425277&whichpage=1

a little debate I'm getting into right now with a half rate fly by night 25 year old college drop out mortgage broker.

Good for a laugh.

Nolaguy said...

Cashtration (n.): The act of buying a house, which renders a person financially impotent for an indefinite period of time.

Christina said...
This comment has been removed by a blog administrator.
plymster said...

For the record, I can stand the occasional spelling error. For example, I have a problem remembering how to spell "occasional" (but that's what www.dictionary.com is for). But matthew's little friend, "KenDoll911" who claims to be a mortgage broker, really needs to learn to spell "amertized" and "princepal" correctly.

[rant]
These are the sorts of douchebags that deserve all they'll get in the coming red crush. These are the free-wheeling, risk-taking, H2 driving c***suckers that are begging for a major reaming. At least during the tech boom, it was mostly college grads with some technical training that were cashing in. In this nutty RE "boom", any walking weiner with a Carlton Sheets guide or a copy "Rich Dad, Poor Dad" and no docs (for his no doc loans) could start screwing the economy up.

Justice awaits.
[/rant]