Friday Open Thread
This is your open thread for today. Please post random links and off-topic discussions here.
Off-topic comment? Interesting link?
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6 comments:
How long will housing slump last?
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.
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.
Cashtration (n.): The act of buying a house, which renders a person financially impotent for an indefinite period of time.
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]
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