Bits Bucket for April 6, 2012
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The Housing Bubble
Examining the home price boom and its effect on owners, lenders, regulators, realtors and the economy as a whole.
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My neighbor (the speedo/penny-loafer guy) let me in on a secret yesterday.
My friend, house pricing is es going up. You buy now you wanna house for you kids.
BTW, he’s awesome now. It’s takes a special kind of patience to develop trust and friendship with the extra-special neighbors.
… Stay off his lawn, don’t park near his house, don’t bother him at all, don’t complain when his errant sprinkler head sprays reclaimed water all over everything, and all is well.
About 1/2 my block hates the guy, but I love him.
Unrelated to my neighbor, but related to crazy neighborhood guy stuff, I was too busy to comment on all the Trayvon postings here — I just wanted to share that, in my estimation but about 1 out of every 3 adult males in Florida behave like Zimmerman.
I’d say about 2x/yr. I vacate any given area to avoid conflict with someone I’ve sized up as likely to shoot me over a parking space.
And I don’t mean the parking space, I mean, like, go home, and go to the store later.
WRT Trayvon, esteemed journalist Matt Drudge has a link to a story: City of Sanford prepares for response to George Zimmerman decision
“Sanford Mayor Jeff Triplett said on Thursday that the city’s emergency management team has met regularly with the U.S. Department of justice to construct a plan. Officials said extra police officers and fire department officials are on standby. Neighboring agencies have also been asked to assist, if needed.”
The long hot summer is already here, and it’s only April
City of Sanford prepares for response to George Zimmerman decision
I guess we know how the Justice Department is going to rule… you don’t start making emergency management plans and coordinated efforts with “neighboring agencies” unless you expect some serious backlash (read riots)…
And people wonder why gun sales are through the roof. Not that I’m expecting riots up here in Mass, but yesterday I picked up another 420 rounds of 5.56mm… you know, for the zombies.
^^^ +1. The squad picks up its new S&W Model 60 today
That’s some old-school gum-shoe cop stuff right there.
I’ve got the M&P40 with an Apex RAM and DCAEK to “fix” the MA-compliant trigger and Trijicon night sights. Just added a Viridian laser as well. Going to Duracoat it in Flat Dark Earth… the choice of discerning shooters from the US to Afghanistan
Just picked up a PWS FCS556 for my AR. Same muzzle break as on the FN SCAR… have to shoot it to appreciate it: no muzzle climb and less recoil.
……crazy neighborhood guy stuff, I was too busy to comment on all the Trayvon postings here —
Unlike you, Muggy, I didn’t comment because I knew one thing for sure. The PRESS is biased and LIES. The reports of racial slurs, no injuries to Zimmerman, doctored photos and showing pictures of a 13 year old black kid in a football uniform were ALL intentional deceptions. I just let the rest of the bigots portray their vision of what happened and who was to blame and why Al Sharpton and Jesse Jackson should be here in Florida to instigate riots.
So, now in retrospect, let’s look at the facts. What we know to be true:
Zimmerman followed a hoodied (gansta style) punk through his neighborhood because he hadn’t seen him before and figured he was up to no good. He called the cops to let him know what he was doing. He gets out of his truck when the suspicious looking guy gets into an area he can’t follow in the truck (against the advice of the 911 operator).
He follows the suspicious looking character until he decides he can’t and heads back to his truck.
He gets hit in the head from behind and is attacked (Zimmerman’s story). The cops at the station are seen examining the back of his head. Obviously, he had some injury.
The press presents an edited tape of the 911 call that says Zimmerman described the suspect as a “black guy”. He did not.
He responded to the QUESTION of the operator who specifically asked. The QUESTION was edited out to give the appearance of racism.
There were allegations of racial slurs. The tapes prove otherwise.
Zimmerman referred to the suspicious looking (think Homeland Security: if they look suspicious report them) as an effin’ Punk. (no race).
The press referred to Zimmerman as a White Hispanic (to show racial intent). The definition of “hispanic” is a NON-white spanish-speaking person. That is where this stupid term for “race” came from.
The press went on-and-on about Florida’s “stand your ground” law.
If your are attacked, then Stand your ground doesn’t even apply.
You are allowed to defend yourself.
The CORONER says that Trayvon had no injuries, other than the bullet wound. To the bigots that say Trayvon was hunted down and shot without provocation, this proves their case, so they think.
To me, it supports Zimmerman’s story that he was attacked from behind. I would believe that Trayvon picked up a stick or rock or something and struck Zimmerman in the head. Then pounced on him when he went down. There were reports of a struggle, but Trayvon didn’t have any injuries or “wounds”, therefore, he was the one doing the injuries. At least based on the Coroner’s statements.
There are all kinds of police reports and Medical reports that document the injuries to Zimmerman. We haven’t seen them.
WE have seen “DOCTORED” photos of Zimmerman, and photos of Zimmerman in an orange jail suit from a prior arrest. Zimmerman has not, to this day, been arrested for committing a crime. Obviously, the Police think he has a VERY GOOD CASE of “self-defense”.
The ENTIRE coverage by the press has been to portray Zimmerman as a biased kook with a bent on killing black people. TRayvon has been portrayed as a harmless school-boy with a hoodie.
The TRUTH is far from the portrayals of the PRESS.
Throw your newpapers in the trash. It’s where they belong.
One final note. I was stopped by the Police in Canton, Mississippi for walking through a neighborhood where someone called, because I was a suspicious looking character that no one had seen before. I was about 19 years old at the time. I am a WHITE Guy.
The cops picked me up, questioned me, and dropped me off at my Grandmother’s house, who they knew.
It’s not always RACISM that causes people to be alarmed at Strangers.
You make some valid points, and it’s possible that you are 100% right, but IMO you are making assumptions that are not yet justified. You may be wrong.
It’s just nice to see people getting worked up about this, will make the long hot summer even hotter. BURN BABY BURN
Do you even live on this planet?
Google the transcripts of the 911 tapes (and NOT NBC) He clearly uses the word “coon” and says the “n” word under his breath, but not so softly that only a deaf person could not clearly understand.
Zimmerman was indeed arrested. 3 times. Google it as well. Pick any result at random. Preferably more than one.
Each time was for OVERLY AGGRESSIVE behavior.
But more than anything, the 911 tape clearly shows he was stalking Trayvon. Private citizens DO NOT have the right to follow anyone if that person does not wished to be followed.
And watch patrol does not carry guns. That is vigilantism as defined by law many, many times.
Zimmerman is your average pseudo-victim, gun toting Pussy Posse adherent. These cowards are everywhere.
I’m sure the “googled” ‘transcripts’ are just the genuine thing.
I get all my facts on google.
Past behavior is usually INADMISSIBLE and considered inflammatory. Naturally, you can conclude whatever you want.
You are not living on this planet. There were NO injuries to TRavon according to the coroner, as I pointed out. So, forget the imaginary story that Zimmeran attacked travon.
Private citizens DO NOT have the right to follow anyone if that person does not wished to be followed.????
Really? If I see someone walking through my neigborhood and he goes behind my neighbors house, I can’t follow him to see what he’s up to? Where did you get this legal concept?
Neighborhood patrols follow people all the time.
Oh, I see, you think ONLY the Cops have the right to stop a criminal. Is that it? Citizens arrest? Not possible. It’s not legal. YOU are on a different planet indeed.
As for “STALKING”. That’s a stupid use of the word. Stalking is when you follow people repeatedly, to different places, on different days, at different times. Not, keeping an eye on someone that looks like they don’t belong there. Go ask Janet Napolitano what you think you should be able to do when SPYING on your neighbors.
And lastly, the PRIVATE CITIZEN was not sporting a weapon. He had a VALID Concealed Weapon permit. I have one, too.
I can legally carry a weapon to defend myself. I do not have to put it back into my house because I am traveling around the neighborhood looking for “suspicious characters”. That would defeat the entire purpose of having a Weapon Permit.
You are simply siding with the “black guy” and finding ways to support your case.
The prior arrests are clearly a sign of bias. I am sure you wouldn’t allow all the problems that Travon had as also “evidence” of HIS guilt. And, he was just recently SUSPENDED from school. That is why he was in Sanford, instead of South Florida. Do you know why?? Would it matter?
This evidence is really quite damning. If I were black I would probably go on a looting rampage.
WRT looting rampages, last August in London was a nice preview. The squad correctly predicts that “social justice” will be sought by looting Foot Locker
Liz a looting rampage?? How about a speaking ENGLISH rampage?
Make black people man up and stop speaking Ebonics wouldn’t that be a better choice for their race?
“If I were black I would probably go on a looting rampage.”
So stealing/destroying someone else’s property who was totally uninvolved is an acceptable response? Would you go on a looting rampage if you knew the property owner was armed and willing to protect their property?
Dj, your statements are starting to spin out a bit the last couple days. We can tell you are angry. It’s ok buddy. Things are going to be all right. Take some breaths and do a reset. I really hope you believe we are your friends. Your friends are telling you, just avoid the topics of race for a bit. If you find yourself stewing on what terrible people blacks are, just refocus and think of something else for a while.
We know you are having a hard time finding DJ and/or other gigs. We get it. It’s tough. If you need a hand figuring out some ways to make money, just let me know. I’m sure some of the other posters here are willing to talk to you also. It seems like the stress is starting to get to you and your friends are here to help, just ask.
The prior arrests are clearly a sign of psychosis and he should have NEVER been allowed free after the 3rd one.
Where I live, you would be lucky to get out of the FIRST assault charge, but no way in hell are you not getting convicted the second time.
3rd time? You’re doing time.
As for following, no, not really. Common law is easily accessible on the Internet as well.
http://en.wikipedia.org/wiki/Reasonable_person
Make black people man up and stop speaking Ebonics wouldn’t that be a better choice for their race?
Deejay, such comments do not live up to the high standards that have been set for discourse on this blog. You know and I know that there are plenty of black people who speak standard English. So, stop it with the race-baiting, okay?
The racist comments are as tiresome as the professional race hustlers profiting from this situation. The squad just wants chaos, anarchy, looting cuz it makes good TeeVee
“Liz a looting rampage?? How about a speaking ENGLISH rampage?
Make black people man up and stop speaking Ebonics wouldn’t that be a better choice for their race?”
Thank goodness this is limited to the blacks. I mean around here the white trash and meth heads speak perfect English and you can understand every word especially when they are having high tea or engaging in public service to improve the neighborhood.
That there’s a dang o lie SD RE Bear, I tell yew wut! Only sissy boys drink tea and do public service stuff!
And hey, I got my dang ol truck out the driveway, so I did my part and improved the neighborhood like dey asked me.
Dio:
You FORGOT the biggest point….he was suspended from school for being a bad boy…thats why he was in that gated community on a school night when he should have been home in Miami….
These idiots keep this up Zimmerman walks…a jury of his peers …???? they are just as scared to death of the hoodie crowd
http://www.cfnews13.com/content/news/cfnews13/news/article.html/content/news/articles/cfn/2012/4/4/sanford_triple_shoot/
I actually did touch on this issue in my last post. I didn’t want to make “inflammatory” comments about the “kid of person” that Travon might actually be. The press portrays him as an innocent schoolboy. I even remember commentary about how a 16 or 17 year old “boy” could possibly get the best of an older, heavier man, so obviously Zimmerman is lying.
Well, in fact, if someone hits you in the head from behind, then it would be very easy to get the best of the “bigger” guy.
I first heard this story on St. Patty’s Day when I was in Orlando and a “multi-racial couple” sitting with a group of people near me went on a rant about the injustice.
My only comment was that is sounded really bad, but if the whole police dept. of Sanford was racist and corrupt, then the Dept. of Justice, or the Florida Dept. of Law Enforcement or some other agency would investigate to see if the “non-arrest” was justified.
They were already worked up by the media coverage and were ready to march down Church St. singing a chorus of “We shall overcome”.
I guess since Sharpton (the Tawana Brawley liar) is now down here, they can all mark arm-in-arm and claim that there is no justice. Maybe Jesse Jackson can shake down the City of Sanford for some “justice money”.
Fortunately I live on a remote cul-de-sac bordered by swamplands. I’ll watch the rampage on the TV and pray for peace.
30 bullets in a car in Sanford……Plus Sharpton, notice he always defends the guilty party?
“The PRESS is biased and LIES.”
i wrote off the press and the MSM back when (i think it was) NBC put the explosive on the gass tank of the SUV to demonstrate how dangerous SUVs were.
it may have been a pickup truck now that i think about it.
i think all they did was apologize.
the MSM is a mockery of the First Amendment.
Diogenes:
You have simply taken the extreme position on the other side of the argument with an absolute conviction of what happened. And you sound just as zealous as Jackson or Sharpton.
The fact is we don’t know what happened yet and evidence is still being sorted. The tape of the 911 call will be analyzed to determine who is screaming - Zimmerman claims he is, unhired “experts” claim the voice is of a much younger man. Witnesses for both stories have come forth - none have been sworn in and cross-examined yet. There’s a lot to be sorted through and that’s going to take time.
We all have opinions on this case - most formed by our biases and experiences. I have problems with someone who makes 50 911 calls in a few months and views himself as the self-appointed savior of the community. I think he was just itching to start something and be able to use his gun. That doesn’t mean the conflict wasn’t accelerated on both sides - I just don’t know. And it certainly doesn’t mean he wouldn’t do things a lot differently this time around if he could. Zimmerman’s got a tough road no matter that the legal system decides.
On a personal note, I do know however that if a guy starts following me when I’m walking home from the 7-11 I’m going to be in “fight or flight” mode very quickly, mostly likely fight since most guys can outrun me. Life is too short to be a victim.
Let’s all calm down and see what happens.
The definition of “hispanic” is a NON-white spanish-speaking person
The Census Bureau’s definition of Hispanic does not require a person to be non-white to be classified as Hispanic. A Hispanic person can be white Hispanic, black Hispanic or just Hispanic. In fact, I heard that in the most recent census around 40% of Hispanic identify as white, so nearly half of all Hispanics are white Hispanics. Your senator, Marco Rubio, is an example.
When I lived in Pittsburgh, one of my roommates was a brother of Pirates star Rennie Stennett. The Stennett brothers were of African descent and came to this country from Panama. Their first language was Spanish.
FWIW, exactly two weeks ago, an 18 year old black male threatened to “beat my ass” and actually charged me. I had to back pedal like my old football days, and I damn near fell over trying to do so.
I was observant enough to give an excellent description to police — the guy was later arrested and was identified by several other victims, who he had attacked and robbed in the area I was in.
Now, I don’t carry, but this all could have easily gone wrong very quickly. I simply stepped aside and gave this guy an out, which he took. My sense is that Trayvon felt cornered (either implicitly or explicitly) — it doesn’t matter.
This is why we have police. I don’t care if Trayvon reacted or not - Zimmerman clearly forced this situation. How can you harass and corner a guy and then shoot him?
And let’s say Trayvon WAS breaking into cars. Observe enough to give a description and call the police. End of story!! Neighborhood Watch is very different than what Zimmerman was doing.
Stand your ground does not mean “harass someone until they get mad enough that you can shoot them.”
pointless anecdote:
“all state” wrestling buddy of mine had an expensive camera stolen off his shoulder in new york city in his early college years.
a little while later his hotel would not let him inside because they were suspicious of the blood on his clothes.
he chased the thief down and beat the crap out of him.
Muggy, if you don’t want to carry but you’re still uneasy, carry pepper spray. I think of it as a good happy medium. I got some at the army-navy surplus for $15.
“if you don’t want to carry but you’re still uneasy”
I’m not uneasy. I have a Remington 16-gauge semi-auto that I keep unloaded (with slugs and buck shot close by) at home just in case.
I debated a CWP + handgun, but my wife said no way. It wouldn’t make sense anyway — I am all over the place at schools, so I could never really leave my house with it anyway.
I may buy a taser to deal with stray dogs and wildlife, but I’m pretty confident with my people de-escalation skills (in the real world, not here :grin:) to not need a weapon.
The only scenario that I occasionally worry about is getting car-jacked with my kids in the back. At that point, I would have to fight.
“This is why we have police.”
What, you have a cop by your side 24/7?
I’ve had a permit in Arizona for 15 years, I carry on road trips and when I go places that I feel require and extra measure of security. When you carry a loaded concealed handgun, the last thing you should ever ever ever do is intentionally bring yourself closer to danger. That weapon is a last line of defense and should remain in its holster unless you have to defend life in a dynamic critical incident that could not be avoided.
There are always grey areas, but you should always be thinking in the back of you mind about how you will appear if something goes down. Were you the aggressive driver cutting everyone off and giving the finger before you shot the guy coming at your car with a tire iron? I hope not…
For some this is unlearn-able, they should carry some less than lethal product like pepper spray or a stun gun…or better yet, get some counseling and quit giving gun owners a bad name! Please carry responsibly
Still very interested to hear the complete details of the Zimmerman incident.
Would also like to add in one of my favorite self defense sayings.
“When seconds count, the cops are just minutes away”
Muggy,
This year I turn 60 and am already retired. Wife and I were planning on a senior community in two years. She’ll retire in two.
I am conflicted. Is it worth enduring Nazi Neighborhood Commanders and CC&Rs requiring everything beige to be a secure senior (with no Goddamn pension!)?
Why am I suddenly afraid of my previously-welcomed future?
Creating a false sense of urgency is the oldest sales technique ever.
In my life, I’ve maybe come across two occasions where there was an urgency to “buy”. However, these were real because nobody was pressuring me to buy.
Both were tickets to shows. One for an opera, and one for a play. And yes! There were sold out afterwards.
Everything else? It can wait a month. I’ve never seen a store run out of sofa’s. Houses too.
Best purchase technique to thwart the “sense of urgency” sales technique: Come to the sales room armed with material evidence that you have a better offer in hand, and convince the sales person that you will walk at the drop of a hat to take it.
Doesn’t work very well when you’re buying String Quartet tickets.
And doing research for what will be a snow job is, like, sooooooooooooo much work, man!
Best to just learn how to say NO all the time.
No, I’m not interested. No, that is not a very good offer. Yes, that dress totally makes you look fat. No, it’s not a very good color.
You kinda need to get good at this game. It’s quite straightforward even for entirely talentless people like me.
“Best to just learn how to say NO all the time.”
Saying NO is just another way of indicating you have a better alternative to a negotiated agreement.
Fine. I’ll state it more precisely.
You need to learn how to violate implicit social constructs.
It’s not enough to say NO to the guy who wants to sell you shoes. You say that they are the worst dogsh1t (and yes! that word is important) and that there’s no way you’re paying him commission on that one.
(You’ve just violated two social contracts there. Homework: Figure out where there are two.)
It even works at the opera. It’s not enough to say “Please be quiet”. You need to say, “Shut your pie-hole, you aged little c**t-piece because I’m here to listen to the composer and not you!”
Well-traversed, empirically-verified territory, my friend!
Works for houses, shoes, classical-music concerts and everything in between.
“Figure out where there are two.”
1. They suck.
2. I’m not buying.
[1] is correct.
2. I know you are paid to sell.
[2] hurts a lot more. People are not supposed to comment about that aspect in public since it is considered “rude”.
Do it on the Upper East Side and gasps go out. (Not that I do it very often but I must say I enjoy the entertainment aspect of it every once in a while.)
“rude”
My wife says I am rude. I try not to bring her along when I talk to sales people.
Your wife is Mormon. Enough said.
SCORE. Rim shot!
People jabber at the opera?! Where are you sitting, puss?
“Where are you sitting, puss?”
New York City manners, ya know…
This is about jobs and family stability now, not about prices.
I took a quick look at Zillow, and found dozens of 3/1.5 in Pinellas Park in the $70-80K range, many of them 50% haircuts from peak. Sample:
http://www.zillow.com/homedetails/9801-54th-St-N-Pinellas-Park-FL-33782/47139237_zpid/
Yesterday, mikeinbend (Oregon?) revealed that his household salary is $25K as a professional substitute teacher plus $10K as a part-time lucky ducky. Florida’s salaries should be comparable. You can call me Darth Vader or a lying Realtor, but numbers do not lie. $80K/$35K = 2.3x income, well within the income range. Yes, these are modest houses, but — hate to sound rude — substitute teaching and cafeteria worker are modest careers. If that particular neighborhood is bad, the northern part of PP seems a little better where modest houses are in the $100K range. Even then, that’s 2.8x income, still within range. A full-time teacher could easily support this housing on one income. This does not sound so different from family finances from the 1970’s.
My point is that high prices are no longer the problem. The problem here is 1970’s income ratios with 2012-income security.
It seems the other problem is deciding if you want to live in the ghetto.
And yes, I know what a ghetto is. Lived in some myself. Even “free” isn’t a deal in those places.
I heard on DC News radio this morning that several counties (Montgomery, Alexandria, Fairfax) in DC Metro were at 100% or 90-some% of their 2005 prices. However, Prince Georges county (which borders DC to the east) was at 48% of peak and dropping.
I don’t know where the fellow got his figures from, but IF TRUE, it’s intriguing.
Did you even bother to check zillow yourself? The house I bought was 40% haircut from peak.
PG county is experiencing Vegas-style drops because it has a Vegas-style job base.
Oh yeah! 40%.
That must be the ticket.
Meanwhile, everybody here is creaming themselves congratulating you!
YAY.
Let’s just reconvene here in a year’s time and see how that purchase is working out, sweetheart, OK?
Okay?!?
Let’s just reconvene here in a year’s time and see how that purchase is working out, sweetheart, OK?
If she bought a property at a price that would cash flow on a rental basis in an area with a stable job base and good schools then she’ll do just fine, your sarcasm notwithstanding…
Why only one year, FPSS? Housing is long term.
To be honest northeastener, on a rental basis I think it would break even.
You bought a house?
Why only one year, FPSS? Housing is long term.
The three stages of an “investment”.
[1] “It’s a great investment.”
[2] “I’m in it for the long-term.”
[3] “Somebody, anybody, please give me a bid.”
Sounds like you’re at stage 2 already!
“Did you even bother to check zillow yourself? The house I bought was 40% haircut from peak.”
Sorry about the above question Oxide. I haven’t been on much lately (for some reason a full time job, part-time (tax) business and graduate classes are keep me busy!) and I haven’t been keeping up.
Congrats on finding a house and I hope you are enjoying. And don’t worry about FPSS claw’s - you know enough to make a sensible decision and understand the possible long-term ramifications. I’m house hunting too and I KNOW prices will go down in my small town, but another 2 years of renting a slime pit (it’s bad) is not a possibility.
And no disrespect meant to you FPSS. Still think you’re brilliant. You said in early 2009 “this rally has legs” and I didn’t listen. That won’t happen again.
(But not all of us are going to be able to wait until rock bottom prices. 
)
Sadly, this rally still has legs.
Attn: PCLN shorting-types!
Sounds like you’re at stage 2 already!
Give it 7-10 years and it will all be good.
If you want an immediate return, lever up in the stock market, or go to Vegas… they give about the same odds. On second thought, you get drinks comped in Vegas, so that might be the better option.
FPSS, you don’t understand the D.C. market. While the rest of the country has hemorrhaged jobs since 2006 there have been few if any cutbacks among Federal workers and all the others who suck at the Federal teat. And the coming “cuts” in the Federal budget, if they even materialize, will simply be reductions in the increases that had been originally planned.
In the D.C. area (except P.G. County), buy now or be priced out forever.
I will grant you the validity of your point.
I get to DC often (was there three weeks ago, will be there again next weekend) and I have plenty of friends there.
I was openly shocked that DC has not taken the kinda shellacking that even NYC has taken. The money is definitely flowing fast and furious in a way that is alien to the rest of the country.
However, the fundamentals are still awful so I stand by the gist of my statement. The tone is probably a tad hyperbolic.
And incidentally, I’m not someone who doesn’t get the need for tomato plants and fig trees. What I question is the amount one is willing to overspend for that, and I suppose that is personal. It’s also very hard for a very hard-edged numbers guy like me to appreciate so I guess we can leave it at that.
“And incidentally, I’m not someone who doesn’t get the need for tomato plants and fig trees.”
What about the need for Las Vegas parties? Do you get that?
Politics
April 06, 2012
VIDEOS: GSA’s $820,000 Vegas Conference Caught On Tape
…
Oxy, congrats on your house! I know from your comments that you were truly fed up with renting.
And it’s not even in Oil City!
Best, best wishes to you, and I mean that sincerely. There’s a LOT to be said for having your own place, and never again having to face that exhorbitant lease renewal rates. I can think of a lot of places I’d rather sink my dough than into moving expenses every year, lol!
Again, best wishes to you.
Janie!
Update please? Must be getting near grad time, no?
Ahansen, thanks for asking, it is gracious of you. Regrettably, I do not finish the #+!! degree until May 2014, assuming: it doesn’t fry my circuits first, I pass the courses, some poor unwitting soul will underwrite my capstone project, that I don’t get canned before I finish, etc. etc. etc. In short, lotsa “ifs”, and you know what they say about people who count on “ifs”.
My hat is off to the engineers who post here regularly. I have profound respect for what they pulled off. They did this, like, more than one course at a time.
‘Bout them house prices. The talk of sequestration is bubbling through casual conversations here in Northern Virginia. A couple of the CMMI-5 firms bit the bullet and let people go in numbers that hit the Examiner. My firm has gone to all out war on overhead, and I see more than the usual number of folks retiring. Most are able to calculate the ROI of a paying job in a ZIRP economy. It’s not like they get a defined benefit plan.
Is this circumstance being reflected in wishing prices in NOVA? No. NOVA saw the correction in the winter of ‘09.
I missed the boat. Oh well. Not the best time to be spending more on debt than rent anyhow.
From yesterday:
Pbear said: “Oxide, you aren’t a Realtor®, are you? Because your posts lately have read like things a Realtor® would write. Just sayin’…”
You’re just sayin’ sort of correctly. No, I’m not a Realtor, but I closed three weeks ago.
Good for you Oxy. Tell us more if you can.
3/2 on 0.2 of an acre. In the past I used to say I wanted a half-acre. On this property, most of the land is the back yard. 0.2 acre is PLENTY of land for all the apple trees and blueberry bushes I can handle. I just have to *gasp* give up a lot of lawn. (I’m crying over this here, really.)
Bought for about 40% off peak, not a short sale. PITI will be $500 LESS than my rent, but most of that will go into the house.
10-15 minute drive from work. Cold-war era style with original oak flooring. Some rather interesting elements that I can take advantage of. Solid, not trashed. But it needs massive updating.
Yay, oxide! And we’re here to offer shoulders to cry on as you go about the massive updating process ;-).
Guess I should have read further before asking the above question.
Congratulations!!! It sounds perfect for you. Massive updating, as I can attest, can be kinda fun to do. In stages, of course. Just don’t decide to replace every window and do all the wood staining & sealing yourself. That way lies madness…
Also, if the floors need refinishing, do it before you move in.
The seller already had refinished the floors. They are gorgeous. The kitchen, on the other hand…
The kitchen, on the other hand…
Take your time. Matter of fact, REALLY take your time.
Omedetou Gozaimashita!
Bought for about 40% off peak, not a short sale. PITI will be $500 LESS than my rent, but most of that will go into the house.
Congratulations, oxide!
FWIW, I really dislike payment obligations since I’ve never really enjoyed job stability. First thing I did for peace of mind was pay six months in advance, and then stay in that position. When my other bills were paid in full I started making additional principal payments too. Ordinarily mortgage payments wouldn’t gnaw at me, but these are not good times, and real economic pain is passed downhill to working peeps like me; hear my words…I’ve got the 70’s tee shirt.
I hope you share your mortgage/home ownership feelings with us down the road a bit. Good luck and enjoy!
Hey oxy! Good on ya. Many happy memories therein.
oxide
I’m jazzed for you. Congratulations!
Got it — you have gone over to the dark side. Condolences.
Well oxy….. it’s not just me anymore.
We have been near capitulation many times. Your opinion, Professor, that buying now is a mistake is most likely valid, but everyone here will live w/the choices they make. She wants to take the risk of possibly being underwater in the future. It’s her call to make.
I’m still waiting, thinking, in our area, the time is not right, but our government and TPTB are getting more and more backed into a corner. Who knows what they’ll do to move the brass ring of reality further from our grasp as they attempt to save themselves. We’ve spent over $60k in rent to wait this thing out. There is no dip 2006 vs 2012 in my price niche, and at the deepest when people were scared, I probably could have saved $25k tops. That was 3 years ago. Prices are moving back to $125/sq foot. It’s occurred to us we should have bought during the first scare when we were sometimes looking at $87/sq foot.
I still marvel that 6 years ago we were close to pay off on our home and now I’m in a more expensive locale paying out $16k a year in rent, watching asking prices go up and having to endure my so called buyers’ agent realtor doing a happy dance not even bothering to acknowledge this is not good news for us. From your perspective in CA you need to wait. But for some of the rest of us, we need to make our own decisions.
Oxy, I hope even though you’ve decided to become a buyer that you’ll still grace us w/your insights and knowledge.
It should be “local” as expected.
I can’t comment about the rest of the country but I can safely say this about NYC.
250,000 got fired last year on Wall St. and those jobs are never ever coming back.
Anyone that thinks that that’s not going to imprint major damage on the Tri-State area is well a complete and utter …!
You know what the FPSS would fill in there so there you go.
Carrie,
Keep in mind the recent massive property tax increases in NYS haven’t migrated through the empty skulls and hit the checking account of NY home-debtors. I don’t know how it is out your way but VT border counties raised taxes 25% in a single year. Secondly, as you know, NY has the longest delays associated with foreclosure. And finally, there may be pockets of economic activity here and there, it cannot overcome the post-industrial economic malaise that is evident to anyone who drives through any town or village in upstate.
Also, I see some of the new inventory coming on line priced higher than peak prices. I interpret this as a last desperate attempt for debtors to salvage any hope of escaping what is obvious to everyone.Last weekend Mrs. RAL paid a visit to my family and our friends we left behind. As typical, they cling to some lofty vision in the future that doesn’t exist while economic conditions continue to deteriorate. She heard multiple stories of people wanting to “go to FL”.
How fast does the county/state “foreclose” if property taxes are not paid? I will put a case a beer it is alot shorter than the 3 years the banks take in NYS.
I don’t know how it is out your way but VT border counties raised taxes 25% in a single year. Secondly, as you know, NY has the longest delays associated with foreclosure.
Banana, I don’t recall. I do remember the raft of farms going up for tax auction in the 70’s and early 80’s.
“Your opinion, Professor, that buying now is a mistake is most likely valid,…”
That’s not my opinion now, nor has it ever been my opinion.
Here is my opinion:
The best way out of a mania is for individual households to make informed, independent, rational personal financial decisions that fit their circumstances. If the oxide household managed to find a home that meets their long-term housing needs at a price they can afford, and they are willing and able to shoulder the costs of ownership, including the risk of further housing price declines, as part of the package, then I say ‘Congratulations.’
the question…if it drops another 50% does oxy walk?
“the question…if it drops another 50% does oxy walk?”
I promise in advance not to say ‘I told you so’ if that happens.
I promise the exact opposite.
Schadenfreude is one of the great joys of life. It makes life worth living and I, for one, and certainly not going to miss out on that!
Michael, the LAND is worth more than a 50% drop. And what if the price does drop again. What am I going to do? Walk from the house move into a rental which costs even more than the house did?
Maryland is a full recourse state. No walking, at least not unless you are broke.
I haven’t actually run the numbers as to whether I could buy a condo similar to my apartment (and within a few blocks) for less than I am paying in rent now (taking all other costs into account including any tax issues). At this point, I don’t care. I don’t want to buy what I am now renting, and I havn’t figured out what I would be willing to buy. Don’t know if I would want to keep this location. Don’t know if I am willing to do a condo at all. Don’t know a lot of things. I know that this particular apartment fits my needs for now and that I can live here and save an entire “extra” rent payment each month. For now, that is enough.
By the way, oxide, congratulations. I know you are dealing with a much different situation and have run all the numbers. I’m glad you finally found the right place.
People, our two situations reflect a big issue in the DC (and NYC area). Where do you have to be 5 times a week and what is your communte tollerance? I have to be in the city 5 times a week (sometimes less, but often 5) and public transporation works very well for my commute. Also, I don’t like driving very much, especially in traffic. Oxide seems to work outside DC itself, and if I am remembering right, public transportation is a poor option if it is available at all. It makes all the difference in the world in high density areas filled with horrible drivers.
Thank you Polly. And yes folks, polly and I may live within 7-8 miles of each other, but we have VERY different situations.
If you’re saving by renting, then go for it. For me, renting was becoming untenable, for mental as well as financial reasons.
Let me spcify that the entire extra rent payment is on top of maxing out the 401(k) and Roth.
7 or 8 miles is a huge distance in this area. When I was moving to this place, it was 8 miles straight down a major road (so an easier 8 miles than between oxide and me) and even at midnight, it took 20 minutes to drive. More like 40 minutes in weekend afternoon traffic and more than that in rush hour. It is one of the reasons why I understand why the local county officials keep pushing (and providing incentives for) high density housing near existing Metro stops. If the people don’t go there and mostly use public transportation then the roads will become impossible. Really impossible.
so the value is in the land?
hmmm…where have i heard that one before.
i bet RAL knows.
seriously though oxide…if it’s the right decsion for you then it’s the right decision for you…congrats.
Sorry, michael, I should have clarified. The value is in a piece of land which is situated very close to a STABLE CAREER JOB.
We’re not talking acreage for corn ethanol.
Veering off topic from absolute house prices to the circumstances that shape us -
I went through an unanticipated period of unemployment back up in CT before the crash. It shocked me that with my pedigree, I was unable to come up with anything interesting to do, at a livable salary. (I had already done the ‘entrepreneur’ thing for years, made out well, and wanted to get the h*ll out of that grind. At the end, although I was earning dough, I was working 100 hrs a week and at the mercy of opera star employees. Got the T-shirt. Nothing to prove. Time to get out).
It is AMAZING how UE shapes our perceptions of life. I am now Where the Jobz Are, got a decent one walking in cold. What UE taught me: I am never, ever again willing to be subject to constraint by a pile of sticks. A crapshack. Having my schedule hostage to the “appointments” of a real-t-whore. I was in that gulag for an entire year longer than I wanted to be, tied down with a ball and chain, and I had done nothing wrong.
My personal takeaway? NEVER be tied down again. Till the metaphorical trek to Oil City, of course.
Wonder if I’d be quite so emphatic about it if I had been stuck in a place for which I had at least marginal affection, like here. Mebbe not.
I am not willing to find out the hard way. So, it’s like the Prof sez. As long as we’ve got critical thinking skillz, The Answer will be different for each of us.
“Who knows what they’ll do to move the brass ring of reality further from our grasp as they attempt to save themselves.”
That comment perfectly captures what I mean by thinking rationally.
“We’ve spent over $60k in rent to wait this thing out.”
By contrast, this statement is not rational.
A rational perspective would be, ‘What did we pay in rent compared to the amount of money we would have lost by owning a home over the same period.’
Case in point:
Our landlords bought the home we live in for $160,000 above the price for which comps are currently selling. This is the amount of money we could have lost by purchasing a home like the one in which we live, before even considering closing costs, mortgage payments, interest, taxes, insurance, HOA, Mello-Roos, rec club membership, yard care, maintenance and upkeep, and myriad other costs of ownership which don’t come to mind. We have paid roughly $200,000 in rent over the period we have lived here.
The upshot: Unless the cost of closing, mortgage payments, interest, taxes, insurance, HOA, Mello-Roos, rec club membership, yard care, maintenance and upkeep, and myriad other home ownership expenses over the past seven years would have been less than $40,000 ($200,000 - $160,000), it was less costly for us to rent than it would have been to own.
I disagree even further.
Opportunity cost.
Rent should be compared to ITIM (interest, taxes, insurance, maintenance) on a bond where you put 0% down.
That’s the rational “throwaway” in both cases.
Investing in principal is the same as savings. And savings has upside which investing in principal does not (inflation included), and that’s called opportunity cost.
I thought you knew accounting, PB. Isn’t this like 101?
“I thought you knew accounting, PB.”
No. I’m much too lazy to be an accountant.
P.S. My example is so extreme that it would be a waste of effort to use a very sharp pencil to make the case. There is no possible way that the opportunity cost of ownership would have been less than our rent over the past half decade; a halfway-bright grade school arithmetic student could see it without even putting pencil to paper.
On the two coasts, if you can’t do this calculation in your head drunk Nick-and-Nora style means you don’t know how to multiply by 10.
“over the past seven years would have been less than $40,000 ($200,000 - $160,000), ”
P-bear, you’re leaving out that fact that your LL stupidly bought AT PEAK. Well, we all knew it was a mistake to buy at peak; that’s why we’re here. The question is, is it a mistake to buy NOW?
Since I bought in March, let’s start the clock in March. Let’s say your LL bought your house NOW, for $160K less than they did in 2005, and they rented to you for market rate. So now, pay a new 7 years of rent, only please factor in a 8% increase per year. What would that cost differential be seven years from now? More than $40K?
In 2005 the realtors were saying that prices will grow all the way to the sky, like trees. On the other side, will housing fall all the way to the ground?
“On the other side, will housing fall all the way to the ground?”
Maybe. A quarter of a century after their bubble collapsed, condo prices are still falling, and detached house prices are barely crawling.
Jan 25, 2012
Quake-traumatized Japanese shun condos
The Tohoku Earthquake of March 2011 had a not entirely surprising effect – the Japanese are now more nervous of condos, and their prices have fallen sharply.
* The average price of new Tokyo condominiums fell 7.2% during the year to November 2011, to JPY 45.19 million (US$ 587,570), according to the Land Institute of Japan (LIJ). Existing condo prices were also down 7.2% to JPY 24.70 million (US$ 321,155).
* Detached house average prices, on the other hand, rose by 2.4% during the year to November 2011, to JPY 12.65 million (US$ 164,478).
In addition, demand has shifted from waterfront locations to inland areas.
…
There is more to the above story about Japanese real estate prices. As of 2011, price declines were still routine, more than two decades after their property bubble collapsed.
Now consider the effect of extend-and-pretend policies, which artificially prop up U.S. housing prices above fundamentals during a period of steadily-eroding demand, due to a tsunami wave of soon-to-retire baby boomers. This is going to end worse-than-expected, and the end game will play out long after the architects of extend-and-pretend policy have moved on to greener pastures.
Notice how the snippet posted below undercuts Oxy’s optimistic view of the future outlook for land prices.
Yet although the quake caused 1,000+ dead and property damage worth ¥25 trillion (US$300 billion), it isn’t Japan’s only problem. The economy contracted by 0.4% during 2011, hampered by the yen’s dramatic appreciation, Europe’s deepening crisis, and the fact that amazingly, Japan now has a large trade deficit – which is likely to grow. All this impacted prices:
…
There was a 0.65% drop in prices in the six major cities (Tokyo, Yokohama, Nagoya, Kyoto, Osaka and Kobe) during the year to H2 2011 (-1.13% in real terms), according to the Japan Real Estate Institute (JREI).
National land prices land prices dropped 3.17% during the year to H2 2011 (-3.63% in real terms). National land prices have been falling continuously since H2 1991.
…
Carrie, your area is full of high taxes, and lousy jobs, and wishing prices. My area is full of medium taxes, good jobs, and 2003-prices which were being snapped up. Not even comparable.
Oxy I think your assessment of these two geographies is quite accurate. I wish you well with your decision by the way. Time will tell if it is a sound one and I will reserve my opinion regardless.
For some of you that read my posts, you may recall that I bought a house back in November, after having one purchase “cancelled” by Freddie Mac, due to pending lawsuit claims of false foreclosure.
The “cancelled” sale was from the Prior October.
I am as big a housing bear as anyone. I did not BUY into the mania beginning in 2002, although I wanted a new place.
But not ALL is Bad in the housing market. There are some good deals on foreclosures and some good deals on short sales.
It is foolish to be a Bear in a market like this.
Yes, it is possible that prices will continue to decline another year or 2, and may not re-gain “appreciation” for several years, but everyone needs a place to live, and with YOUR house, you can do what you want with it (subject to the fascists at the local building dept.).
There are some advantages to “ownership” and I don’t think the prices in some places are out of line with what is reasonable.
I am still looking for ANOTHER house as an investment. I have past on several. It takes a LOT of looking to find good deals, but there are some out there.
If someone here found a good deal on a place they like, I say, CONGRATULATIONS. I hope you enjoy the place and custom fit it to your personal tastes and desires.
I mean, put the arboretum in your living room. Put a shower on the porch. Put a hot-tub in the bedroom. Go crazy.
Paint your floors to match the ceiling. Put a kitchen in the den. A barbecue pit in the garage. It’s your damn house. Do what you want. Just be careful when mixing the electric with the plumbing.
Thank you, diogenes.
Yep, lots of renovations to be had.
Rich, Jo, Kevin. PB we’re being left behind!!!!
(Oh and I’m house shopping pretty heavily, but it’s easier when your budget is $100k or less instead of $350k or less. 
)
I’m in my 12th year of a crappy rental. 12 years of no guest room, no dinner parties, no real storage, no good fencing for the pups (ok, that’s only been problematic the last year, but when you’re dogs get arrested it’s not a good or cheap thing!) So yes, I will be going over to the dark side soon even though I think prices will fall 20% the next 5 years. Am already seeing in fact which is good, this town is ridiculous. But am shopping carefully and will be saving up for the (possible) loss.
On a happier note I’ll be back in June and I think we’ll be partying at Jo’s new digs! Hope to see ya (and the rest of the gang - more soon via e-mail) there.
“On a happier note I’ll be back in June and I think we’ll be partying at Jo’s new digs! Hope to see ya (and the rest of the gang - more soon via e-mail) there.”
Sounds good. See ya then (if I am available)…
I thought you sounded like a girl who’d made up her mind. Good luck and enjoy your new home.
Do girls make up their minds differently than boys do?
At the risk of seeming sexist, the insinuation seems to be that girls are less rational — i.e. they will commit to paying hundreds of thousands of dollars on a whim.
It seems most this way when Suzanne researches the subject.
I must say that Suzanne was a genius.
Whether she was conceived as a marketing tool by a guy or a chick remains unknown but it was marketing genius.
A few years ago, my sister and I had some really good drunken times over talking over what Suzanne should really do.
I think my sister’s husband was mostly mystified as to how two people could laugh so hard and dissolve into giggles all evening but you know, you take your giggles where you can get them.
I miss Suzanne.
“I miss Suzanne.”
I try my best to regularly post links to her commercials on YouTube for sentimental types like yourself.
It’s not the same. It can NEVER be the same.
The fun times are gone for ever and ever.
I don’t know about other girls, but I’m pretty sure this wasn’t a whim. Not after 6-7 years on HBB. In fact, I’ve been asking questions for over a year now. For example, this question: why should I pay $75K in rent to wait for house prices to drop $75K, especially if the housing stock just becomes more and more trashed and/or picked over as time goes on?
The non-girls on HBB have given me some less-than-rational answers, for example “you must be a lying realtor.”
Sorry…it goes without saying that MEN ARE EVIL.
“For example, this question: why should I pay $75K in rent to wait for house prices to drop $75K”
The offer I made in 2010 (that went sideways) was made with this in mind.
But the answer is simple: in five years, you be paying X, and your new 2017 neighbors will be paying X-Y and you’ll be pissed, then, that you’re throwing away $400/mo. on “owning.” Your argument does not work when house prices are deflating.
This is why I tell no one in my ‘hood what my rent is ($1,100). Many of them bought in the $275-$400k range.
“But the answer is simple:”
Spot on. Eventually the myriad investors in rental properties who bought after 40% off-peak price declines will offer to rent properties for less than landlords who bought at the peak. Landlords who bought at the peak will either have to reduce their rents to match them, or enjoy the pleasure of paying the costs of a vacant rental unit.
There has never been a better time to rent!
“There has never been a better time to rent!”
I agree, but the trick is finding a good one and keeping it. That is not easy.
“That is not easy.”
I think we may have lucked out on that end, as our landlord appears to be financially stable, yet is far too underwater to be anywhere close to selling.
“There has never been a better time to rent!”
I disagree. There are so many factors at play here, I don’t understand why folks are giving oxide such a hard time. If she’s happy, be happy for her.
I’m renting. I have no interest in shouldering the risk of loss of value, nor the upkeep or transaction costs. But renting is costing me a premium. I had to move because my last LL wanted to move back into his house. I struggled to find a suitable new rental. My new place is further from work. Moving cost me in excess of $1k, not counting the value of my time.
Would I rather own? No. But I certainly wouldn’t argue it’s a good time to be a renter, either.
Oxy- For your information, the correct term for what you did is “snapped-up”, not “closed”.
The frugal ones (like most of us) with any sense at all are the last ones who are buying “bargain” houses. After we are all used up, the prices will be free to free-fall again. Look out below.
well, about those ‘free-falling’ prices.. may happen or may not happen. Take two locations, lets say Detroit, and DC inside the beltway. One has a floor by virtue of everything around that location, the other has a giant vacuum sucking the population out of it.. guess which will rebound and which will be a desolate wasteland.
No one knows what will happen tomorrow but we can make an ‘educated’ and ‘logical’ guess from what we have learned or know about a particular location as to its future trajectory.
For the DC area, you have investors moving in who will rehab the place and make it marketable, there is still lots of cash sitting on the side line. For Detroit, why isn’t it a natural preserve yet?
Well, congratulations Oxide, and may you build many happy memories at the new digs.
For Detroit, why isn’t it a natural preserve yet?
Within the city limits of Detroit is some of the best grouse hunting in the United States.
Sears to License Names of Kenmore, Craftsman Brands
http://online.wsj.com/article/SB10001424052702303299604577325643404448050.html
“Sears wants the Kenmore, Craftsman and DieHard names to appear on merchandise related to the products and sell them both nationally and internationally. The Kenmore name, for instance, might be used on kitchenwear. Craftsman may be turned into a line of durable apparel. The lines could be sold in Sears or externally.
Sears Chairman Edward Lampert and Chief Executive Lou D’Ambrosio have spoken about their desire to see Sears’s brand names sold elsewhere. The retailer is already selling some of its Craftsman tools at Ace hardware stores. Sears has also licensed DieHard to flashlight-and-battery concern Dorcy International. ”
I posted about this a few days ago, not knowing that it was already happening. Isn’t this how companies start spiraling down? When I was little, Thom McCann was an entire shoe store in the mall. A decade later, the shoes showed up as a brand at K-Mart. I’m not sure they exist at all anymore. Looks like Die-Hard is already on its way down. I should stock up on my Craftsman tools now, before their quality goes into the toilet.
It’s a method of “value extraction”. Check out Lampert’s background. The biggest mystery about him is that “kidnapping” that supposedly took place.
http://en.wikipedia.org/wiki/Edward_Lampert
What’s the point? If you’re Sears, you want the clothes sold alongside Carhartt and Dickies. The only place that will happen regularly is Kmart (which is owned by Sears).
Quick: do you associate Kmart with quality?
Nope. Me neither.
“If you’re Sears, you want the clothes sold alongside Carhartt and Dickies.”
Carhartt stopped US manufacture of jeans in 2011. I stocked up before the demise, but I have since found online suppliers of “Made in USA” and usually Union Made jeans that I find easily equal to Carhartt. BTW, I bought Carhartt jeans for years after Levi, Wrangler, and Lee went offshore.
Carhartt stopped US manufacture of jeans in 2011. I stocked up before the demise, but I have since found online suppliers of “Made in USA” and usually Union Made jeans that I find easily equal to Carhartt.
Brand names, please! I’m also looking for American made shoes, if anyone has ideas.
San Antonio shoes not cheap, been wearing them for years.
http://sasshoes.com
San Antonio shoes not cheap, been wearing them for years.
Thank you! And, better yet, they have a store in Tucson.
Oh, so that’s was SAS stood for.
Sorry to say, those are well-known as old lady shoes.
Sorry to say, those are well-known as old lady shoes.
Well, this over-50 gal is looking for a good pair of on-my-feet-for-many-hours shoes. Got a two-day photo shoot coming up in the next month, and my feet need to be smiling as much as the people I’m photographing.
SAS has some shoes that win plaudits from nurses. Who tend to work long hours while standing.
Love my SAS. Been wearing them for years also. They last a long time.
Munro America makes shoes for women. Minnesota, I believe. They aren’t exactly cheap, but not outrageous, and the quality is good.
Chippewa for the boot department. Been wearing them for 7 years and still US made in TX. You’ll pay but they’re worth it. Wearing them is the 3rd healthiest thing I’ve ever done besides quitting smoking and dropping 40lbs. Great for maintaining posture and long lasting.
Ugg boots. Nothing better, but they’re Aussie by way of PRC these days.
I should stock up on my Craftsman tools now, before their quality goes into the toilet.
I fear the time for that may have already passed.
Have you looked at tool reviews on Sears’ website lately??
I stocked my toolbox with made in the USA Craftsman in late 2009. Hope I didn’t get there too late.
You’re 30 years too late.
2009 way too late - but always be watching for used tools in pawn shops and garage sales. (Probably easier here in Kansas.)
On the other hand, most of us don’t use them professionally so you’re probably fine and they still have a lifetime guarantee (do they?) if they break.
“The retailer is already selling some of its Craftsman tools at Ace hardware stores.”
The Craftsman tools sold at Ace are not made in USA. Based on this observation, I have moved the Craftsman brand to the same place in my mind that I moved Wrangler, Levi, Lee and other previously top-of-the-line American manufacturers; I won’t buy the product until there is absolutely no USA made item available (which may not be far away).
I believe the loss of manufacturing is putting the USA on a downward slide that may be irrecoverable.
Sears to License Names of Kenmore, Craftsman Brands
Hefner did this with the “Bunny.” These days one typically associates it with some tacky punk from the projects.
Craftsman tools have been kaka for decades. IIRC their manufacture (or at least components of it,) was among the first to be outsourced to PRC (using Japanese steel,) back in Nixon’s 1970’s–although Sears wasn’t all that upfront about advertising the fact. Now, even their top-of-the-line “professional” tools are fair-to-middling at best.
The best place to find the 1950-60’s-caliber tools you’re thinking of is at older estate sales.
+1
That too, but for the average Joe at home, who uses a hammer at best once every three months to drive a nail in the wall, Craftsman is fine. Then again, so are Harbor Freight tools. And those are 1/10 the cost.
Craftsman is all about the legacy image. Since Joe the homeowner thinks they are top of the line tools, and if Joe is superficial enough that he is willing to pay $18.99 for they’ll pay that premium on a Rip Hammer, more power to Sears. But the move to license the name is going to destroy that perception, and it is a quick road down to the Harbor Freight level of quality.
One thing I see happening is this will goose sales in the short term, so of course the current management team is all for it. Might even enable them to get a nice retirement house on a lake in the UP before the share price craters and they get their golden parachute.
I once needed a hammer urgently (don’t ask!) and I was gonna fork out but my friend’s Chinese wife dragged me to a dollar store where I bought a very badly made hammer made in China, of course.
It was totally unbalanced, awful stuff but it got the job done. I’ve used it maybe twice since. Now, I’m kinda attached to this thing. It’s so bad it’s almost OK.
I should toss it but I don’t have the heart to.
I can’t recall last time I used a hammer. Must have been 4/5 yrs ago. However I stumbled upon MC Hammer’s video on TV a couple of months ago.
Why would you need a hammer?
Get that landlord in there to do his job. That’s what an overpaying bee-yatch is there for, no?
Especially at midnight. Especially if you withold the rent if they can’t maintain stuff, right?
“I once needed a hammer urgently (don’t ask!) and I was gonna fork out but my friend’s Chinese wife dragged me to a dollar store where I bought a very badly made hammer made in China, of course.”
Since we can’t ask - the dollar store is a much better choice. They sell millions of them and it made it much harder to trace the hammer back to you.
Snort.
Sorry oxy, not sure why this nested here instead of where I put it.
“Craftsman tools have been kaka for decades.”
Yep.
Agreed. I’m a fan of Snap-On tools.
Personal anecdote: I’ve had good luck with Stanley over the last 10 years, although I haven’t had to buy any in the last 8.
Used them professionally as well.
I was just going to type something similar. The older guys who valued knowing how to use those tools sometimes have some beautiful workshops with pieces still lovingly cared for. Their kids’ disinterest in taking on any of that (or perhaps they cannot afford the space it requires) can be your gain.
“Craftsman tools have been kaka for decades.”
I think you are way off base with this statement. My experience and observation does not parallel your broad statement.
I found the ones I bought in the late 80s to be significantly inferior to the ones my dad bought in the early 70s. So as far as I’m concerned the decline started somewhere between those two points. I’m just talking about wrenches and socket sets…
So what’s a good place for tools if I need them. I can’t stop at an estate sale after work, and i DON’T trust ebay.
Somtimes Costco sells tools in big kits. Home Depot always sells tools. I got a nice compound saw a Mikita from there for 99.00. laser sometimes does not work but otherwise it’s OK. I don’t use it too much though.
I have heard pawn shops are good for power tools.
I have craftsman tools from the 1980’s. They are good. Got a tool box thingy from sears a few years ago it is already broken.
Piece of junk
So what’s a good place for tools if I need them.
I second Home Depot… most of my power tools are DeWalt. They tend to be a solid tool, albeit more expensive than the cheaper stuff, but you get what you pay for.
So what’s a good place for tools if I need them.
Do you want maximum quality or bang for the buck? Snap-On is the best I’ve been around for expensive stuff. I don’t know if there might be boutique stuff that’s even better. If you don’t need to tools to take a lot of hard use or abuse, I’d trust the recommendations above.
I’ve had good luck with a Ryobi drill. I’m not sure what to do for garden tools.
Where is the RAL guy this morning?
Got too drunk on tequilas in Midtown last night?!?
1) I’m always close by.
2) I don’t drink.
3) I only enter NYC if I have biz at hdq’s. Very infrequently.
But well played FPSS…. well played
…… and I’m glad you’re thinking of me.
“…and I’m glad you’re thinking of me.”
As my sons, who are fond of yelling at each other and hitting one another when necessary, will tell you, negative attention is a far more sincere form of flattery than oblivion.
The Incredible Shrinking U.S. Government
By Jordan Weissmann
Apr 5 2012, 5:46 PM ET 6
What do Republican presidents Reagan, Bush I, and Bush II have in common that Obama doesn’t? Total government grew under those presidents after they faced recessions. By contrast, federal, state, and local government has declined by more than half a million workers in the last three years. Big government ain’t what it used to be.
…
But the army of contractors only grows and grows, nothing to see here folks, just the invisible hand of the free market at work
Contractors = great way to further concentrate the wealth (CEO and owners make millions workers see pay and benefit cut) and for gov to relieve itself of having to face open records requests. We’d like to tell you what Blackwater version 5 did but that company is out of business, we fired them for their poor performance. We’ve replaced them with Blackwater version 6.
We are Rome and that is no bull$hit. Wars, wealthy senators, slave labor, bastardized currency.
Prove me wrong someone. Anyone.
Dude, for all the drama you put out, you should totally be like a queen in one of the gay bars in Midtown.
Wait, Chelsea might suit you better.
No, we’re not Rome (we have aspects thereof but not really), and no, it’s easy to use metaphor to justify this but you need to argue specifics not generality.
Have you heard of Edward Gibbon?
He wrote an entirely bullsh1t “History of the World” arguing that the British Empire was basically Rome. This was in the 18th century.
Yes, the British Empire did collapse but 150 years later for almost entirely different reasons.
Analogies are useful but you also need to prove the mapping that the analogy is sound. I don’t see one.
Wish I could. Maybe Senator Palpatine will save us. Seems like he’s got a plan…
FPSS couldn’t do it. Anyone else?
You know that insulting people about not doing your homework won’t actually get your homework done, right?
Take your own advice kiddo and get back to refuting it.
Enjoy your version of Rome!
All doom and gloom. So boring. So Midtown. So Middle America.
I’m gonna go the Satyricon route. Much more fun, and you get to enjoy all the way throughout!
As the Japanese say, 十人十色 (juu nin to iro - literally, ten people, ten colors = different strokes for different folks.)
Satyricon
Now’s there’s something I haven’t heard mentioned in years.
Ah, but which reference? (I prefer Fellini myself)
just curious…wonder what it would be without the state and local part.
Take out the cuts to the military lookie - government grew just as fast under Obama (also Clinton) as anyone else.
Cutting the military is a great way to say “look, I cut the government employees” without ever touching the socialist monster we have as a government today.
And then we have the army of contractors - which were virtually unheard of in the times of the Reagan Admin…
What does this “socialist monster” look like? Some kind of creepy, undead zombie Saul Alinsky monster under the bed that keeps people up at night after watching too much Hannity?
“What does this “socialist monster” look like?”
ILLEGAL IMMIGRATION pictures from Arizona you have to see to BELIEVE! Posted by admin. May 18, 2010. Hey everyone out there!We, in Arizona , know …
http://www.audacityofhypocrisy.com/2010/05/18/illegal-immigration-pictures-from-arizona-you-have-to-see-to-believe/ - 97k -
You do know that without jobs, there is no immigration, illegal or otherwise?
In other words, they wouldn’t be here if somebody wasn’t hiring them and I don’t think it’s libruls.
Let me just check on that real quick…. well waddya know, Arizona, very red state.
Fixed it for you…
You do know that without jobs free medical, free housing, free education, free food, free etc. , there is no immigration, illegal or otherwise?
In other words, they wouldn’t be here if somebody wasn’t hiring them and I don’t think it’s libruls.
Let me just check on that real quick…. well waddya know, Arizona, very red state.
Truth be told, most of the illegal immigrants here cross the border for jobs. And they hold such positions as:
1. Chambermaid
2. Roofer
3. Landscaper
4. Janitor
5. Dishwasher
Not exactly what one could call high-skilled work. Yes, it’s true that there were Americans doing this sort of thing a few decades ago, but that’s another story.
“What does this “socialist monster” look like?”
i knew it would have brown skin!
I read at one point a few years back how the US agribusiness subsidies were pushing Mexican famrmers off their land, as Mexico was being flooded with corn from the US due to these subsidies. So the only logical place was to go where the jobs were, and that was north.
I believe the subsidies went away under Clinton, but came back under commie Bush. (I’m not a big fan of either, by the way.)
I heard that the immigration has slowed to a crawl now due to lack of jobs. And to be honest, it seems that all the unskilled jobs are already filled up with immigrants; we don’t need any more coming in.
“ILLEGAL IMMIGRATION pictures from Arizona you have to see to BELIEVE! Posted by admin. May 18, 2010. Hey everyone out there!We, in Arizona , know …
http://www.audacityofhypocrisy.com/2010/05/18/illegal-immigration-pictures-from-arizona-you-have-to-see-to-believe/ - 97k -”
Come on Jeff, that last photo is obviously photoshopped. The claim is that is was taken in Phoenix is false - numerous sites say was taken in CA at the LA Times Complex. This was a very simple Google search. And you really doubt someone who would lie about the location (as they try to feed the racism in Arizona) would hesitate to add words to a sign that would so promote their cause?
I am getting so sick of the average American being so stupid as to believe anything that supports their own hate, racism and fear. This was just stupid and extreme and shows your true colors. Being stupid is the antithesis of what this site is about and yet the extremists seem to be doing a good job of throwing out fear and hate as “fact.”
There are some real problems with illegal immigrations and entitlement beliefs from many groups both legal and illegal. But this crap, created to terrify the thoughtless and reactive, does not add to the debate nor start to solve any problems. You’re being played Jeff and it makes you look like an idiot. And this photo may make it easier for a few more illegals to get gunned down with no comment, but it will do nothing to solve the original problem. Oh wait, that would be going after the EMPLOYERS and the fascist right and corporate-owned left would never allow that.
“What does this “socialist monster” look like?”
“i knew it would have brown skin!”
No man there`s a white chick in this vid “Food stamps it`s just food, It`s like food” (I think I`ll say that to the checkout girl at the grocery store this weekend and see if she let`s me slide. What! $150 it`s just food, It`s like food) Besides her I know quite a few white sponges.
Obama Bucks - YouTube
Mar 17, 2012 … A video by Alexandra Pelosi showing people lining up outside a New York welfare office to get their “Obama bucks”
http://www.youtube.com/watch?v=Z5tqH7UrzOw - 100k
Thank you, SD. This issue is too serious, (and far-reaching,) to allow such blatant bs to dilute the discussion.
Like it or not it happens everyday.
Illegal Alien Murders Houston Police Officer - YouTube
May 31, 2011 … Illegal Alien Kills Houston Officer The suspect accused of driving his vehicle through a police barricade and killing a Houston police officer …
http://www.youtube.com/watch?v=MNXSsx7k6Js - 142k - Cached - Similar pages
“Thank you, SD. This issue is too serious, (and far-reaching,)”
I don`t know about these staes but it has gotten worse down here since 2006.
New FBI Statistics on Crimes Committed by Illegal Aliens
CaPoliticalNews ^ | November 12, 2006 | FBI/INS
INS/FBI Statistical Report on Undocumented Immigrants
2006 (First Quarter) INS/FBI Statistical Report on Undocumented Immigrants
CRIME STATISTICS 95% of warrants for murder in Los Angeles are for illegal aliens.
83% of warrants for murder in Phoenix are for illegal aliens.
86% of warrants for murder in Albuquerque are for illegal aliens.
75% of those on the most wanted list in Los Angeles, Phoenix and Albuquerque are illegal aliens.
24.9% of all inmates in California detention centers are Mexican nationals here illegally
40.1% of all inmates in Arizona detention centers are Mexican nationals here illegally
48.2% of all inmates in New Mexico detention centers are Mexican nationals here illegally
29% (630,000) convicted illegal alien felons fill our state and federal prisons at a cost of $1.6 billion annually
53% plus of all investigated burglaries reported in California, New Mexico, Nevada, Arizona and Texas are perpetrated by illegal aliens.
50% plus of all gang members in Los Angeles are illegal aliens from south of the border.
71% plus of all apprehended cars stolen in 2005 in Texas, New Mexico, Arizona, Nevada and California were stolen by Illegal aliens or “transport coyotes”.
47% of cited/stopped drivers in California have no license, no insurance and no registration for the vehicle. Of that 47%, 92% are illegal aliens.
63% of cited/stopped drivers in Arizona have no license, no insurance and no registration for the vehicle. Of that 63%, 97% are illegal aliens
66% of cited/stopped drivers in New Mexico have no license, no insurance and no registration for the vehicle. Of that 66% 98% are illegal aliens.
BIRTH STATISTICS 380,000 plus “anchor babies” were born in the U.S. in 2005 to illegal alien parents, making 380,000 babies automatically U.S.citizens.
97.2% of all costs incurred from those births were paid by the American taxpayers.
66% plus of all births in California are to illegal alien Mexicans on Medi-Cal whose births were paid for by taxpayers
It looks like Social Security and Medicaid. My little section of government isn’t even a rounding error in the budget.
Food stamps and labor unions are destroying this country!
Remember, welfare is only fraud if you are poor.
When you’re rich, it’s called a “bailout”.
‘When you’re rich, it’s called a “bailout”.’
Not only that, it’s worth a fantastic fortune, not a penurious pittance.
The more I hear Saul Alinsky being bashed, the more I want to read his books.
Saul really is a bit of a flake.
But you’ll have to read one of his books to find out how much.
Yeah but he’s singlehandedly directing this administration’s policy from beyond the grave…
(DBAV)
‘Dramatic’ 65 percent increase in Palm Beach County foreclosures
by Kim Miller
Palm Beach County’s clerk and comptroller is reporting this morning a 65.4 percent increase in new foreclosure filings last month compared to March of 2011, a jump most analysts predicted following the $25 billion bank settlement.
There were 1,502 new foreclosures filed in Palm Beach County in March, up a 25.4 percent from February.
“This is one of the most dramatic month-to-month increases we’ve seen in more than a year,” said Clerk Sharon Bock. “And the timing for an increase in foreclosure filings couldn’t be worse, since Florida’s Clerks will see their budgets dramatically cut on July 1. This will slow down case processing significantly.”
A federal judge signed off on the $25 billion foreclosure settlement between banks and the nation’s attorneys general on Wednesday. The settlement, which provides for more loan modifications and principal reductions for borrowers, also outlines a standard way for banks to proceed on foreclosures, clearing the way for the expected increase.
Florida’s clerks of court were hit with a $30 million budget cut this year and Palm Beach County’s share will total about $2.5 million _ a reduction Bock said will cause further delays in processing foreclosures. It already takes an average of two years for a foreclosure in Florida to work its way through the system.
This entry was posted on Friday, April 6th, 2012 at 7:04 am and is filed under Florida economy, Foreclosures, Mortgage fraud, Real estate bust. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
3 Responses to “‘Dramatic’ 65 percent increase in Palm Beach County foreclosures”
1
REALLY? Says:
April 6th, 2012 at 8:01 am
How could this be possible? Listening all these months to the media and the president’s minions how the economy is just rolling along? Yeah, right
2
Roy Oppenheim Says:
April 6th, 2012 at 8:21 am
Didn’t I tell you? Banks now have the green light thanks to the settlement.
3
rOn cOn cOMa Says:
April 6th, 2012 at 11:12 am
Make the banks give back the Mortgage recording fees and erase the debt!
Lisa Epstein for County Clerk!
Lisa Epstein | Foreclosure Fraud - Fighting Foreclosure Fraud by …
Michael Redman and Lisa Epstein, at the Palm Beach County Courthouse, joined forces with two other people in Florida in investigating potentially fraudulent …
http://4closurefraud.org/tag/lisa-epstein/ - 156k - Cached - Similar pages
Americans brace for next foreclosure wave
By Nick Carey
GARFIELD HEIGHTS, Ohio |
Thu Apr 5, 2012 2:22am EDT
Until December 2010, Daniel Burns, 52, had spent his working life in the trucking industry as a long-haul driver and manager. When daily loads at the small family business where he worked tailed off, he lost his job.
Unable to cover his mortgage, Burns received a grant from a government fund using money repaid from the 2008 bank bailout. That grant is due to expire in early 2013 and Burns is holding out on hopeful comments from his former employer that he might get his job back if the economy recovers.
“We are right back where we were two years ago. I would put money on 2012 being a bigger year for foreclosures than 2010,” said Mark Seifert, executive director of Empowering & Strengthening Ohio’s People (ESOP), a counseling group with 10 offices in Ohio.
“Last year was an anomaly, and not in a good way,” he said.
http://www.reuters.com/article/2012/04/05/us-foreclosure-idUSBRE83319E20120405 - 112k -
———————————————————————————-
“No Deabeat will hit the street until after the 2012 election” said jeff saturday executive director of Deadbeats Are Victims (DBAV) a counseling group with 1 office in Florida.
The last 10 years have been an anomaly, and not in a good way,” he said.
…and the hits just keep on coming!
Some good news:
http://news.yahoo.com/former-franklin-bank-executives-charged-fraud-153333519.html
WASHINGTON (Reuters) - The government charged two former executives of Franklin Bank Corp, a Houston-based lender founded by a mortgage bond pioneer, with a fraudulent scheme to conceal how badly the bank was doing during the height of the financial crisis.
Wow. An actual charge relating to bank executives. Wow.
Key point from the linked story:
“Nocella and McCann used the loan modification scheme like a magic wand to change non-performing loans into performing assets,” said Robert Khuzami, director of the SEC’s division of enforcement.
“Their disclosure and accounting tricks misled investors into believing that Franklin was outperforming other banks during the height of the financial crisis.”
Pinellas County tourist development tax revenues up 17 percent
http://www.tampabay.com/news/pinellas-county-tourist-development-tax-revenues-up-17-percent/1223829
How Good Is the Housing News?
Published: March 7, 2012
For too long, President Obama and his team have relied on the banks to voluntarily modify troubled loans. Those efforts were focused on reducing monthly payments, not principal — a more powerful form of relief.
Now President Obama is trying again. On Tuesday, he announced a new policy of easier refinancings for loans that are backed by the Federal Housing Administration. As part of the settlement announced in February, the major banks will be required to promote loan modifications for troubled borrowers, including principal reductions for underwater homeowners.
http://www.nytimes.com/2012/03/08/opinion/how-good-is-the-housing-news.html -
“Now President Obama is trying again.”
“modifications for troubled borrowers, including principal reductions for underwater homeowners.”
CAPTAIN AND TENNILLE
“Do That To Me One More Time”
Do that to me one more time
Once is never enough from a man like you
Do that to me one more time
I can never get enough from a man like you
Whoa-oh-oh, screw me like you just did
Oh, Bammy, do that to me once again
Help those Deadbeats one more time
Once just isn’t enough for my heart to hear
Whoa-oh-oh, tell it to me one more time
I can never earn enough for the rent this year
Whoa-oh-oh, say those words again that you just did
Oh, Bammy tell it to me once again
[Instrumental Interlude]
Do that to me one more time
Once is never enough from a man like you
Whoa-oh-oh, do that to me one more time
I can never get enough from a man like you
Whoa-oh-oh, screw me like you just did
Oh, Bammy do that to me once again
Whoa-oh-oh, Bammy, do that to me once again
Whoa-oh-ho-oh-oh-oh, Bammy
Do that to me one more time
(Do it again)
One more time
(Do it again)
One more time
(Do it again)
One more time
(Do it again)
One more time
(Do it again)
One more time
Whoa, I thought the charters were supposed to do it better. What happened? Geez, and this one even has ties to Biden’s brother.
“A former special-education teacher at Mavericks High in Palm Springs has filed a whistle-blower lawsuit alleging that the charter school is inflating enrollment records and fabricating grades.”
http://blogs.browardpalmbeach.com/pulp/2012/04/third_whistleblower_lawsuit_mavericks_palm_springs_mechato.php
After my mother retired from public school teaching, she was a volunteer tutor at a church’s after-school program. Among the children she tutored were students at a charter school.
Mom was more than willing to help them with their homework, but there was one wee little problem. They never had homework. Or so they said to Mom.
I might add that my mother wasn’t the only retired teacher tutoring at this program. And other teachers told similar tales about the charter school kids. They were coming to Homework Club without any assignments.
Over time, Mom and her fellow retired public school teachers found other things to do. No point in volunteering to do nothing.
If a bank assigns a mortgage to a person, does that mean the bank is giving them the house and poofing the mortgage?
You hold title to your property, and the mortgage company has a lien against it until you complete your payments. Your property taxes are also a lien; try not paying ‘em.
Austerity drives up suicide rate in debt-ridden Greece
By Teo Kermeliotis, for CNN
updated 10:00 AM EDT, Fri April 6, 2012
Greek man: Why I set myself on fire
Suicide rate in Greece jumped 40% year-on-year in first five months of 2011
(CNN) — When Apostolos Polyzonis’s bank refused to see him last September, the 55-year-old Greek businessman had just 10 euros ($13) in his pocket. Out of work and bankrupt, he thought all he could do with his remaining money was to buy a gas can.
Desperate and angry, Polyzonis stood outside the bank in central Thessaloniki, in northern Greece, doused himself in fuel and surrendered to the flames.
“At that moment, I saw my life as worthless, I really didn’t care if I was going to live or die,” recalls Polyzonis, who says he was hit by financial troubles after the bank recalled a loan given to him for his business.
“My sense of living was much lower than my sense of self-respect and pride, the fact that I had lost my right to be a free Greek,” adds Polyzonis.
Polyzonis, a father of three, was eventually saved by police. He recovered after spending seven days in hospital on life support.
His public protest made headlines and touched a nerve with many Greeks bearing the burden of a worsening debt crisis. One in five Greeks was unemployed last year, according to Eurostat figures. Many more have suffered unprecedented hardship due to increasing pension and salary cuts.
“I don’t feel proud about it, no way, but all these situations made me lose my self-respect and feel like I’ve been deprived of my rights,” says Polyzonis, “because being able to pay your taxes is not only an obligation but also a right. People should have the possibility to pay their taxes, to pay their obligations to others, to offer the basic goods to their family so they can feel that they live with self-respect and dignity.”
Until now, Polyzonis’s self-immolation was the most vivid image of a singular public act of protest in a country that’s been shaken by anti-austerity violence.
But Greece was jolted even more Wednesday after a 77-year-old man took his own life in the busy Syntagma Square, central Athens, the scene of several violent clashes between anti-austerity protesters and the police in recent months.
Just a few hundred yards away from the Greek Parliament, retired pharmacist Dimitris Christoulas shot himself with a handgun amid the morning rush hour, in what was apparently a protest over the financial crisis gripping the nation.
…
The human cost of austerity: EU leaders have blood on their hands over suicide of Greek pensioner
PUBLISHED: 06:12 EST, 6 April 2012 | UPDATED: 06:45 EST, 6 April 2012
We’ve grown used to viewing the economic catastrophe of the Euro as a rather dry story about international currency markets - shocking in its scale and its folly, but not exactly a matter of life and death.
It’s become second nature to mock overpaid, workshy Greeks and to blame them for the errors their political leaders have made.
Now, all that has changed, as the suicide of one Greek pensioner has brought home the sheer scale of the human misery that Europe’s vain and incompetent political leaders - yes Merkozy, that’s you - have visited upon the people they were elected to represent.
…
Don’t go there!
Austerity may not be Portugal’s best option, warns IMF
Chasing deficit targets may no longer be Portugal’s best policy if its economic slump deepens more than expected, the International Monetary Fund (IMF) has said.
Reuters
5:13PM BST 05 Apr 2012
It stopped short of calling for targets set under an EU/IMF bailout to be eased, but signalled concern over waning external demand and the recessive impact of bailout austerity.
But it also said that this year’s targets remained in reach.
Portugal’s lenders from the European Union have so far said sticking to stringent fiscal targets and reforms is the answer to the country’s woes.
In a staff report following last February’s mission to Portugal, the Fund also agreed with the European Commission that the bailout’s size of €78bn was sufficient and considered Portugal capable of returning to the bond market in late 2013 as the programme envisages.
Some investors remain concerned that Portugal will have to follow Greece in seeking a further bailout that could involve losses for private sector creditors.
…