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Saturday, September 12, 1981

Tuesday Open Thread

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

9 comments:

Anonymous said...

On NPR this morning: http://www.npr.org/templates/story/story.php?storyId=6059920

Anonymous said...

Must be getting busy in the forclosure industry...
http://seattle.craigslist.org/see/bus/206233916.html

synthetik said...

Any comments about this? It's a hedge fund betting on a more serious collapse of the housing/credit bubble.

http://tinyurl.com/g8bco

"September 12, 2006 -- A New York hedge fund is betting big time what apartment-obsessed New Yorkers have been whispering about for months: that the real estate boom is over.
In July, Paulson Credit Opportunities Funds raised $147 million in equity and promptly put it to work on a leveraged $1.8 billion bet that home owners are going to have a very difficult time paying their mortgages.

The bet is concentrated on the lower end of the credit world, reckoning that the housing bubble will crack first among borrowers with the worst credit."

redmondjp said...

Check out these excellent song lyrics to "The Upside-Down Blues" that somebody posted here (scroll down to the third comment).

ROFL!

Anonymous said...

Can anyone recommend an honest reasltor in Spokane? I know I should wait 6 months or so to buy but I am tired of my rental. So far the realtors I have met(The big names in town) are in denial

synthetik said...

an honest realtor would tell you to wait at least a year.

good luck finding one.

synthetik said...

I realize realtors need to make $$$ and for the good ones they'll be plenty to be had initially.

The MSM and NAR are now doing a good job at letting sheeple know the state of the market. A good realtor would try to convince the seller to put their homes on the market at dramatically lower prices than they're currently "zillowing" for.

The market here in Seattle has already tipped, so if the listing isn't aggressive they'll run the risk of price reductions as well as 60, 90, 300+ days on the market.

Anonymous said...

Re. those hedge fund guys:

I'm not sure if this was one of the hedge fund operators but he was some bigwig being interviewed on CNBC today and he had something to do with RE related stocks (not homebuilders).

He is banking on a 50% drop in home prices on the coasts. Fifty percent!

But I'm thinking, Seattle is not technically on the coast, we're on the Sound, so maybe our homes will just stay flat here while every other coastal place in the US drops 50%, even though we've got more toxic loans than most other places. heh..heh...

seattle price drop said...

Ken Heebner, the REIT fund manager was the one who said he expected prices to drop 50% on the coasts on CNBC today.

And yeah, I think he considers Seattle to be "on the coast".