Bits Bucket for December 27, 2013
Post off-topic ideas, links, and Craigslist finds here.
The Housing Bubble
Examining the home price boom and its effect on owners, lenders, regulators, realtors and the economy as a whole.
About Me
Name:Ben Jones
Location:Northern Arizona, United States
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“To cause high prices, all the Federal Reserve Board will do will be to lower the rediscount rate…, producing an expansion of credit and a rising stock market; then when … business men are adjusted to these conditions, it can check … prosperity in mid career by arbitrarily raising the rate of interest. It can cause the pendulum of a rising and falling market to swing gently back and forth by slight changes in the discount rate, or cause violent fluctuations by a greater rate variation and in either case it will possess inside information as to financial conditions and advance knowledge of the coming change, either up or down. This is the strangest, most dangerous advantage ever placed in the hands of a special privilege class by any Government that ever existed. The system is private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people’s money. They know in advance when to create panics to their advantage, They also know when to stop panic. Inflation and deflation work equally well for them when they control finance.”
Charles August Lindbergh Sr
Dow’s 50th record high close this year yesterday, sad cus youre late to the party?
The following brief quotes from President Roosevelt and his son-in-law, and some of our most prominent economists, will help put the proposal in context. Remember that this follows damning House floor testimony of the criminality of the Federal Reserve by House Banking Committee Chair, Louis McFadden, in 1932.
“The real truth of the matter is, as you and I know, that a financial element in the larger centers has owned the Government ever since the days of Andrew Jackson — and I am not wholly excepting the Administration of W.W. (Woodrow Wilson). The country is going through a repetition of Jackson’s fight with the Bank of the United States — only on a far bigger and broader basis.” - Franklin Roosevelt, letter to Col. Edward Mandell House (21 November 1933); as quoted in F.D.R.: His Personal Letters, 1928-1945, edited by Elliott Roosevelt (New York: Duell, Sloan and Pearce, 1950), pg. 373.
“The depression was the calculated ‘shearing’ of the public by the World Money powers, triggered by the planned sudden shortage of supply of call money in the New York money market….The One World Government leaders and their ever close bankers have now acquired full control of the money and credit machinery of the U.S. via the creation of the privately owned Federal Reserve Bank.”
Curtis Dall (FDR’s son-in-law), My Exploited Father-in-Law, 1967. pages 34-43: . Dall was a graduate of Princeton, manager at Lehman Brothers, Partner at Merrill Lynch, and Vice Presidential nominee for the Constitution Party in 1960.
http://www.washingtonsblog.com/2012/03/charles-lindbergh-sr-86-of-great-depression-economists-on-monetary-reform.html - 81k -
“Give me control of a nation’s money and I care not who makes it’s laws” — Mayer Amschel Bauer Rothschild
“And remember…. houses are depreciating assets. They never pay you back.”
Indeed. Houses depreciate just as quickly as autos.
No way dude. Another HBB poster has his own ski hill in his yard.
Yes…. down hill skiing in Atlanta GA as I recall.
He must have a snow machine too, as I believe he lives in Atlanta.
I drove by an AppleBees on Xmas day. No lines.
Come to think of it, we dined out at a couple of similar places over the holidays (Chipotles in Victorville, CA, and Kneader’s Bread Co. in SLC). We had no wait at either establishment, though neither were as empty as many similar restaurant chains around San Diego during the 2008-09 period.
It’s over Johhny:
http://ktar.com/22/1687729/Applebees-closes-5-locations-in-Phoenixarea
Nobody believes your doom and gloom, I’m making three times the money working half the hours than when I was a stripper.
You must have been stripping furniture…..
“Why sign up for a massive mortgage payment when you can rent the same square footage for a fraction of the price?”
And maintain financial freedom and geographic mobility.
Do you lease all the cars you drive as well?
Autos are grossly inflated too but the losses aren’t lifelong.
We own three cars free-and-clear. Does that qualify us for Ownership Society membership?
Only if you’re living in them rent-free.
Did you get what you could fetch for your house while you still had a chance?
“Household Formation Is Cratering”
http://realmoney.thestreet.com/articles/08/21/2013/household-formation-cratering
This isn’t really news as household formation is already at 60 year lows….. but the declines are accelerating.
considering some of the 20 something women i’ve been running into lately, they are not worth marrying and starting a family with….unbelievable cluelessness.
Yes, yes and more yes.
jeeeez…. don’t get that loon spun again today.
Wha…..?
…the off the rails oppression thing yesterday.
…the off the rails oppression thing yesterday.
I don’t know what you talking about. I wasn’t on yesterday.
Jeeez…. I wasn’t talking about you. Carry on.
…the off the rails oppression thing yesterday.
The only bright side from that train-wreck is that I finally realized who Uncle Fed really is… Maybe I’m just slow.
“The only bright side from that train-wreck is that I finally realized who Uncle Fed really is… Maybe I’m just slow.”
Who? Who? Hubba-hubba, do tell!
Who? Who? Hubba-hubba, do tell!
Are you being serious that you couldn’t tell from yesterday’s display???
“Are you being serious that you couldn’t tell from yesterday’s display???”
Wow, I missed that whole discussion. I really can’t tell. The only clue I have is where UFed says that it pains her to agree w/HA, but she must this one time. Oxy? Is her house 1800 sq.ft? Help me out here.
Help me out here.
Based on the tone, I concluded it could only be the inimitable BigV.
“…it could only be the inimitable BigV.”
She openly announced the name change when she made it.
She openly announced the name change when she made it.
I must have missed that day. AND I’m apparently slow.
Will he take her back?
COLUMBIA, S.C. (AP) — Richland County deputies say a 34-year-old woman stabbed her fiance on Christmas Day after they argued over what colors should be used in their wedding.
Investigators say the man was trying to leave a home near Blythewood after the argument when Krysta James attacked him around 8:30 p.m. Wednesday.
Deputies say the man was stabbed in the upper body, but his injuries weren’t life threatening.
James is charged with criminal domestic violence of a high and aggravated nature. She remains in jail on a $10,000 bond and it isn’t known if she has an attorney.
Of course she will why just look at her….
http://www.nydailynews.com/news/national/s-woman-stabs-fiance-wedding-colors-cops-article-1.1559397
Eeeeek!
Just imagine what would happen to the finance if he refused to sign on the dotted line to take out a mortgage for purchase of an overpriced house!
Household formation is cratering.
And it will continue for at least another generation. At some point an obvious majority (60%) in every age group above 18 will be of unmarried.
This will be revolutionary in many ways. Home ownership will decline as people living alone increases. More job mobility (like Bill in Maryland, Bill in New Jersey, Bill in New Tampa, Bill in Phoenix, Bill in also Angeles…). More drop out from voting. More people realizing they are sovereign individuals.
Why is it that some struggle so much with the fact that housing always depreciates?
How to make a small fortune in real estate?
Start with a large fortune.
“A rapidly depreciating house at current asking prices is not worth the risk.”
“People have learned that a highly leveraged, illiquid, high-transaction cost “asset” requiring regular annual maintenance of thousands of dollars is not worth the risk”
You better believe it.
If you take on mortgage debt at current massively inflated housing prices, you’ll enslave yourself for the rest of your life.
“Debt is bondage.”~ Suze Orman, May 11, 2013
Don’t Be A Debt Donkey®
“Houses depreciate rapidly and are always a loss”
Of course they are…. if you’re honest about it.
I know a mortgage broker who works for Everbank he told me many of his clients who own rentals in San Jose ca are going broke.
I was surprised I though RE was the path to riches.. ?
The fact that people in CA are going broke because they bought a house isn’t a surprise to me.
And you?
That is what Robert Kiyosaki and Donald Trump have been saying. But what they meant was “[writing books on]real estate is the path to riches.” someone edited out their first three words. And the gullible public, particularly boomers, figured in 2002 that their house is their retirement plan! And it will turn out to be a Chinese Laundry. They will rent to each other. LOL!
Hope and Change from politico dot com:
“Despite some strong indicators, two-thirds of Americans are not optimistic about the country’s economy, according to a new poll released Friday.
The CNN/ORC survey shows that 68 percent of those surveyed think the economy is in poor shape, with over half expecting the economy to remain that way in the coming year.
Citing strong performances in the stock market and jobs numbers, CNN reports that many of these economic indicators have not resonated with the public.
Over half of Americans are cutting back on spending on clothing and appliances, emphasizing the public’s uncertainty in the economy. Additionally, 36 percent are even cutting back on food and medicine, up from 31 percent in 2008.”
That’s unpossible! The Western Washington State / Central Idaho Recreational Waterpark Attendance Index* is at an all time high! And don’t even dream about getting a table at Applebee’s!
* actual reference cited by HBB poster as strength of the economy
Western Washington State = Eastern Washington State, specifically Spokane area.
I have good friends in Cali that have Spokane as a short-list candidate to retire to. ON that list is Bozeman also. I am torn where they should go. Which couch would feel more cozy for me? A WA one or a MT one?
I hope your friends have deep pockets. If the Eastern Washington State / Central Idaho Recreational Waterpark Attendance Index (frequently cited in the Federal Reserve’s Beige Book) continues its exponential growth trajectory, they’ll be paying over $1,000 / square foot, and that doesn’t even include a ski hill in the yard!
“I have good friends in Cali that have Spokane as a short-list candidate to retire to.”
I don’t understand this. What does it mean?
both good fir skiing, no income tax in wash, no sales tax in mt. I’d take spokane for better medical.
I thought Atlanta was good for skiing too? Not anymore?
“If i had a son, he’d look like Trayvon” — President Barack Obama
“The Obama administration filed a federal hate-crimes charge Thursday against a man whom authorities accused of using the “knockout game” to target a black man, videotaping it, and then bragging about the assault to strangers.
The charge marks the first time the administration has taken action on a “knockout” case after the game became an Internet and media phenomenon. It chose a case in which the person accused is white, even though most other cases reported in the news have involved black assailants.
Is it a “hate crime” if a group of young black thugs knocks out an elderly white lady?
No, when that happens, it’s Justice For Trayvon™
Got it.
http://www.breitbart.com/InstaBlog/2013/12/26/Church-Displays-Bleeding-Trayvon-Martin-Nativity-Scene
Gross.
Demand For New Mortgage Money Falls To 13 Year Low
http://www.reuters.com/article/2013/12/24/us-usa-economy-mortgages-idUSBRE9BH0IK20131224
There is no housing demand. With massive and growing inventory by the day, is it any wonder why housing prices are falling?
You can live in a home but what value does a stock certificate have besides hope that is goes up in value? most don’t pay dividends either. there is no intrinsic value in a stock certificate other than toilet paper once the company files for bankruptcy.
thats why most americans love real estate and we are constantly talking about it. It has intrinsic value and at least you know what you have, a tangible asset.
But houses depreciate rapidly and are always a loss.
bs depreciation is a function of maintenance. the shanties you build probably dont have a life of 10 years right?
A lot of people made a lot of money in the last housing boom. So you bs about always be a loss is just stooopid!!!!!
A home has intrinsic value. How is you twtr stock going to help you when the market crashes?
And maintenance costs increase the losses.
Remember…. housing depreciates rapidly and results in financial losses. Those losses are magnified tremendously if you finance it.
You sound like the type of guy that leases a car and thinks he got a great deal.
You sound like the type of guy that pays a massively inflated price for a rapidly depreciating house and magnifies his losses by financing and thinks he got a great deal.
Am I close Howmuchamonther?
PS….
I just stripped a newly cast 14″ wall with double face reinforcing for you to bang your head on. I marked it with a big orange X so you get your aim just right.
I paid cash for 2 properties after the crash. Rent one and live in the other. All I pay for is maintenance, taxes and ins. One basically pays for the other. What do you have going?
That and a dollar will get you a cup of coffee around here.
Now get yourself on over to that wall.
Just got another fat dividend overnight. $439 on a $28,000 investment, and that is in a tax managed fund, which I don’t expect dividends. I have another dividend coming up on the 31st, my monthly high yield corporate bond fund. $80 or so.
Oh my!
Investing is so much better than ownng a house!
Maybe you can tape together your bonds and stock certificates and build a pillow fort with them and crawl inside, because that’s as close to living in a real home that you’ll ever feel when you’re a renter.
geez you’re fickle amy. weren’t you just courting Bill to buy a house? don’t you know it’s not smart realtoring to insult potential customers?
tj:
Since you are a teenager who mostly makes purposefully offensive, inane, egotistical statements, and then denies you ever made them, and likes to pick on girlies in the hopes of maybe making them cry or something, I don’t think you’re in a position to give the venerable Amy Hoax any advice on how to sell. You should keep your whiny mouth shut and get a vasectomy.
Love,
Blue Eyes
I have a very nice rental. Very quiet with a large park in my back yard. It is one of the best units in this apartment complex. This is m Phoenix residence. I have s much money left over I don’t know what to do other than laugh as my net worth keeps growing! Since October 2009 I added $870,000 to my net worth.
IOW I could buy five of your crap shacks, Hoaxster, and watch the value deteriorate.
Cities
Not for rent: Homeowners battle Minn. city’s restrictions on rental property
Published December 27, 2013
Cities and property rights groups across Minnesota are watching a court case challenging the constitutionality of a first-in-the-nation rental crackdown. The Winona, Minn., ordinance prohibits homeowners from renting their property in the college community.
Three homeowners went before the Minnesota Court of Appeals on Dec. 12 to challenge the law.
“To me it’s getting beyond what elected officials are supposed to do — starting to dictate who can rent, who can’t rent, who can do this, who can do that,” said Ted Dzierzbicki, a plaintiff whose house is across the street from Winona State University. “They’re not the kind of laws that benefit and protect people. It’s more to do with somebody having a bug about something and trying to get a law towards it.”
…
whats the big deal? Darien CT has laws on the books for 40 years which prevent you from building a 2 family house anywhere in the town…..keep the renters out.
They somehow manged to build 2 condo complexes close to each other and the train station many years ago but then no more.
whats the big deal? Darien CT has laws on the books for 40 years which prevent you from building a 2 family house anywhere in the town ??
Thats a zoning issue…All municipalities have that type of control…
Saying you cannot rent it goes well beyond them saying you can’t build it…Whats next…
groups across Minnesota are watching a court case challenging the constitutionality of a first-in-the-nation rental crackdown ??
Muni’s are now pushing their legal limits due to the liberal interpretation of the Eminent Domain ruling with the Supremos…Look at what Richmond is doing…Private property rights are under attack…
this has already been happening for a few years.
families have lost homes that have been in their family for nearly a hundred years. lost them because they were in a nice location and the city wanted to increase its tax revenue. they take the homes and sell them to developers who are supposed to be able to increase revenue for the cities.
this has already been happening for a few years…. they take the homes and sell them to developers who are supposed to be able to increase revenue for the cities ??
But only because of the liberal ruling by the supreames…They turned Eminent Domain on its head…
If the only purpose the municipality needs is a profit motive then “no” property rights are safe…
then “no” property rights are safe…
it’s slowly been building towards this for a long time. it’s just getting more visible now. you’re right, your property really isn’t safe. but ‘they’ want you to think it is.
“If the only purpose the municipality needs is a profit motive then “no” property rights are safe…”
They subscribe to the doctrine of “highest and best use” to justify their seizure of private property. Use to be “for the greater public good” like a freeway. It’s a slippery slope.
Hey tj:
Wazzup, hater?
Sincerely,
The Princess (and don’t you forget it either, loser)
Did you dump your bonds yet?
GLOBAL MARKETS-Shares extend rally; U.S. 10-year yield hits 3 percent
Fri Dec 27, 2013 6:06pm IST
* European shares add to year-end rally, DAX hits record high
* Yen hits 5-year lows; euro rises to 2-year high at $1.3892
* U.S. 10-year bond yield hits 3 percent
* Turkey’s lira hits record low as political crisis deepens
By Blaise Robinson
PARIS, Dec 27 (Reuters) - European stocks climbed on Friday as renewed appetite for risk fuelled a year-end equity rally and pushed U.S. benchmark Treasuries yields above 3 percent for the first time since September.
Japan’s low-yielding yen extended losses, hitting 105 to the dollar for the first time in five years as well as a five-year low against the euro.
Turkey was again in the emerging market spotlight, with the lira hitting a record low and stocks falling to their weakest level in 17 months as a corruption scandal pitting the government against the judiciary took its toll on markets.
U.S. 10-year T-note yields rose to 3.002 percent, reflecting signs of improvement in the U.S. economy which has fuelled expectations of a steady withdrawal of stimulus by the Federal Reserve next year, while in Europe, Bund futures fell by around half a point.
“In the U.S., I think yields could continue to grind higher, especially if data continues to improve,” said Anders Svendsen, chief analyst at Nordea.
…
Did you dump your bonds yet?
Wait, aren’t you supposed to _buy_ what everyone else is selling??
Buy a few ten years at 5%.
Buy 50% more at 8%.
Buy double the original amount when they reach 10%.
Buy A LOT when yield is above 12%.
Well yeah, but what’s wrong with encouraging them to sell a bit more before you buy?
I suspect it will be a LONG time before I buy any bonds with a long duration; I believe we are in the early stages of a long-term bear market in bonds.
Everyone believes this now, as it is all over the MSM.
Which pretty much explains my skepticism.
The other thing you doubtless have noticed if you have been paying attention is that the QE3 taper only involves the long end of the yield curve. FOMC members have suggested the short end of the curve may remain tamped down to near zero through 2016. The 30-year Treasury yield is already nearly 400 bps higher than the 3-mo T-bill yield.
Also worth noting: The last protracted period when short-term Treasury yields remained at similar levels to those in place from 2008-2013 began in 1933. It didn’t end until around 1948 (15 years hence). Similar timing this go-round would result in the 3-mo T-bill yield remaining near zero through 2023. How much farther do you expect long-term Treasury yields to go up so long as the 3-mo Treasury yield is effectively 0%?
Falling gold prices are great for supporting strong fiat currencies!
Gold futures fall as rupee strengthens
NEW DELHI Fri Dec 27, 2013 4:55pm IST
An employee poses with gold biscuits inside a jewellery showroom in Mumbai June 4, 2013. REUTERS/Danish Siddiqui/Files
(Reuters) - Indian gold futures edged lower on Friday as the rupee firmed up against the dollar.
* The most-active gold for February delivery fell 0.47 percent to 28,442 rupees per 10 gram at 4.33 pm on the Multi Commodity Exchange.
…
http://www.zerohedge.com/news/2013-12-27/gold-silver-are-jumping
Maybe if it was happening. BTW, check out the platinum group today, my favorites.
http://www.schwab.com/public/schwab/resource_center/expert_insight/retirement_strategies/planning/baby_boomer_reality_check.html
60% of those older than age 55 saved less than $100,000 for their retirement.
43% of those older than age 55 saved less than $25,000 for their retirement.
These amounts, of course do not include social security.
But the boomers are nuts if they think their paid off crap shacks will finance their retirement.
Many will have to live a radically depressed lifestyle as they await the “progressives’” death panels.
In desperation, these people will vote for a far greater wealth redistribution from the wealthy and the young and to themselves. Watch for wealth confiscation on any retirement plans with a balance higher than $100,000.
While I think treasuries will not get the wealth tax, due to essentially being the same effect as defaulting, I do think radically increasing your stake in TBills and two year notes is a smart move. But also of course stacking bullion precious metals is ever more important. Electronic asset confiscation is so near I can smell it.
This perfectly illustrates what happens when you throw good money after bad on a depreciating house, month after month for 30 years.
Houses are never an investment. They’re losses. Every. Single. Time.
Watch for wealth confiscation on any retirement plans with a balance higher than $100,000.
Can you imagine what such a course of action would do to the contributions of new funds into 401ks? Can you imagine what a change in the flow-of-funds would do to Wall Street and the investment bankers?
Ergo—it will never happen.
Platinum, silver, and gold are insurance. Everyone has a right NOT to be forced to buy insurance. However I knew a guy who in his mid 40s, an expert rock climber, very strong, told me he does not have health insurance (consultants before Obummercare did not have to buy insurance). His younger wife fortunately had health insurance because she had to have a stint put into her heart - twice.
Now you are probably thinking it is foolish not to have health insurance but insurance against collectivism is foolish?
@PIC
I had a meeting with our tax advisor, and he commented on how he was converting all his personal pre-tax retirement accounts to Roth over time (paying his taxes now, and preparing to be able to pass the Roth accounts to his kids). We asked him point blank about government confiscation of retirement accounts, or changing the rules to take away the benefit for existing accounts, etc. He flat out said that there are constitutional issues with such things happening (ie. that it would be unconstitutional…could it be the equal protection clause?–we didn’t go into detail).
In any event, he seemed completely unconcerned with such a thing happening…and this guy’s no joke, he is a trusted advisor to folks with 10-figure net worths…
Your name-dropping is getting lame.
That would be of course if I were dropping names. I’m just saying that a very in-tune guy sees the risk of government confiscation of Roth accounts as negligible at best.
That’s because platinum and palladium are useful metals in industry
Whats Copper doing ? It has a PhD in economics
Gold is more useful than you think. I met my girlfriend in Sedona so no blog for me.but gold does have significant industrial and increasing environment and medical uses.
“The housing price correction resumed. Get what you can get for your house today because it’s going to be much less tomorrow for decades to come.”
You better believe it Mister.
‘There has been yet another violent attack with mass casualties. This was not the act of a lone gunman, or of an armed student rampaging through a school. It was a group of families en route to a wedding that was killed. The town was called Radda—not in Colorado, not in Connecticut, but in Yemen. The weapon was not an easy-to-obtain semiautomatic weapon, but missiles fired from U.S. drones. On Thursday, Dec. 12, 17 people were killed, mostly civilians. The London-based Bureau of Investigative Journalism has consistently tracked U.S. drone attacks, recently releasing a report on the six months following President Barack Obama’s major address on drone warfare before the National Defense University (NDU) last May. In that speech, Obama promised that “before any strike is taken, there must be near-certainty that no civilians will be killed or injured—the highest standard we can set.” The BIJ summarized, “Six months after President Obama laid out U.S. rules for using armed drones, a Bureau analysis shows that covert drone strikes in Yemen and Pakistan have killed more people than in the six months before the speech.” In a nation that abhors the all-too-routine mass killing in our communities, why does our government consistently kill so many innocents abroad?’
earning that nobel peace prize, one drone strike at a time!
Obama promised
Nothing left to say, is there?
Progressivism at work. Progressivism == humanitarianism and drone deaths == life.
They have to stop that sh%t. like terminator when robots kill from the sky this is very bad.
This is just one example of the lap dog media allowing the Prez to do anything without any questioning. The interesting article below catalogs all the potential fiascos that have been overlooked since he took office. Republi-puke would never get away with any of this.
Will the Obama-era hypocrisy continue when the next president takes office? By Victor Davis Hanson
http://m.nationalreview.com/node/367010/print
This is just one example of the lap dog media allowing the Prez to do anything without any questioning.
True, but think about who owns the MSM.
realtors are liars
It’s no lie that my clients are all happy with the homes I helped them buy.
You can trust us! Just look at the millions of others who did!
The realization was as surprising as it was momentous. Toledo, long known as Glass City, needed glass, and it could no longer be manufactured here quickly enough.
http://www.cnbc.com/id/101297375
Pussy Riot says freed to improve Russia’s image before Olympics
MOSCOW Fri Dec 27, 2013 2:03pm GMT
Pussy Riot members Nadezhda Tolokonnikova (R) and Maria Alyokhina talk to the media during a news conference in Moscow, December 27, 2013. One of two freed members of punk protest band Pussy Riot, Tolokonnikova, said on Friday their release was aimed solely at improving Russia’s image before it hosts the Winter Olympic Games and was not a humanitarian gesture. REUTERS-Tatyana Makeyeva
…
I threw a $100 on the floor in a skin joint. I watched the same kind of riot
lolz!
Bulletin U.S. stocks rise at Friday open; Nike is biggest gainer among Dow 30 »
Dec. 27, 2013, 9:06 a.m. EST
Euro surges to two-year high against U.S. dollar
By Polya Lesova and Michael Kitchen, MarketWatch
NEW YORK (MarketWatch) — The euro rallied Friday to the highest level against the U.S. dollar since October 2011 as a European Central Bank official cautioned against arbitrary monetary easing.
The euro (EURUSD +0.73%) climbed to $1.3818 in recent trade after rallying as high as $1.3893 earlier in the session, according to FactSet data. It traded at $1.3693 on Thursday.
The move came as European markets reopened after the Christmas and Boxing Day break.
…
At $70/share, TWTR is a steal, time to go all in baby!
Scottsdale 4/3 Ranch
http://www.movoto.com/scottsdale-az/6320-e-calle-del-norte-scottsdale-az-85251-471_4971489/
This is roughly what I was raised in, but in California. Spacious, but not fancy; a low roof-line custom built rancher. Both parents hard workers, high school educated. Comfortable retirement with occasional travel, new car every four or five years, etc., not the Taj, but not Gandhi either.
Fast forward to the present, next generation. Educated children married to same, all hard working, no criminals or welfare, but all living or renting in 1/3 of the space, spec junk. No retirements, meager 401k savings.
Gotta wonder what’s ahead for my school-aged kids?
Well….. I’m asking $50k for my 14 year old Honda Civic but the buyers aren’t interested in my beautiful car…… and I just don’t know why!
you gotta raise the price to 75k, then drop it back to 50k and advertise it as ‘price reduced’.
Hi tj the perpetually single dweeb:
How would you know? You aren’t old enough to have ever sold a car before. Your mommie probably paid for the car you drive now, even though you fashion yourself after some sort of Libertarian or Anarchist ideal, and you like to pick on girls.
Signed,
Blondie
Mom’s neighborhood pulls down $2M these days, and then they gut the place, rebuild to personal taste.
Let’s hope her son draws her out of any delusion she might be under.
Mom’s a wealthy business woman free of delusions; she knows luck of timing had a lot to do with her success. Dad bought property when San Jose was orchards, and micro-processors sprouted forth. Lucky.
Mom’s neighborhood pulls down $2M these days ??
What zip ??
Are their zip codes on planet Mars?
What zip ??
Willow Glen 95125
I lived in that same zip code for four years. No way would I expect $1,000,000 on a house there. And that was 13 years ago! Two miles north up Hayden Rd there are very nice places at $500,000 and up. I am strongly considering renting in the zip code north of 85251, particularly for the Scottsdale Greenbelt path. Biking, walking, blading, jogging. I miss all that.
Arcadia [is] a nice neighborhood. No graffiti there.
I worked in that area, Arcadia, 85018. The trees are huge for a desert area. Lots are huge too.
Scottsdale 4/3 Ranch
1 million bucks for an ordinary house in the Arizona desert?
1 million bucks for an ordinary house in the Arizona desert ??
Yep…In a way it has surpassed Palm Springs area…Finest restaurants…Spas…Gyms…Golf…Good weather…Gated communities…Eye Candy…
In fact, women lose more in a divorce than men.
It’s still in the hot as hell desert.
“1 million bucks for an ordinary house in the Arizona desert?”
Look at that big backyard. Can you imagine tossing the Frisbee to your happy dog back there? The BBQ smoke filling your nostrils? Pride of ownership!
You can do it…sign the papers!
Arcadia isn’t desert, it’s a tropical paradise with older neighborhoods and good schools.
Sure they might be asking too much, but they have the right to find a greater fool. It probably will need gutted if not totally razed.
Not one photo of the interior = total gut renovation needed. For over a million bucks? ! Nice green thirsty lawn though. In the desert. Sheesh.
“Not one photo of the interior = total gut renovation needed.”
+1 My thought too.
“If you like your plan, you can keep your plan” — President Barack Obama
http://nypost.com/2013/12/25/new-obamacare-fees-coming-in-2014/
So, how many people, or percentage of people are funding many of their normal discretionary income expenditures with credit card minimum payment plans?
Reason I ask is simple. I am looking at jobs and seeing the pay offered for many and there is no way people can spend so much $$ in this economy and drive up market prices without something more to the equation. I just don’t see it in the wages being the impetus.
It’s good you’re thinking of this.
If prices weren’t fixed by central planning, credit wouldn’t necessary, which begets the question;
Do you believe wages are going to triple to meet grossly inflated prices?
Of course not. Now what is the only other conclusion?
you should get out of detroit and take a look around america.
specifically, look at the number of people attending recreational waterparks in eastern washington state and central idaho.
some depression, huh?
and the only thing experiencing hyperinflation is the number of people attending recreational waterparks in eastern washington state and central idaho.
hbb, always with the doom and gloom.
chortle
Bill in LA,
what do you make of Pimco? I was reviewing PTRAX. The aggregate growth of it has been about 3-fold since 1996 -ie- share price of ~$3.40 with dividend reinvestment has the share price around $10.60 now. Has the 3-fold growth been the norm for bond funds the past 18 years?
Looks reasonable. I compared it to VFIDX, which is an intermediate corporate bond fund but not in the same securities as PTRAX. I see 3.5% annual gain on PTRAX the last three years and 4.3% annual gain on VFIDX. But I think my figures exclude reinvested dividends. PTRAX has a better 10 year ARR.
‘Looks reasonable. I compared it to VFIDX, which is an intermediate corporate bond fund but not in the same securities as PTRAX. I see 3.5% annual gain on PTRAX the last three years and 4.3% annual gain on VFIDX. But I think my figures exclude reinvested dividends. PTRAX has a better 10 year ARR.’
Second data point to compare to PTRAX. I looked at USAIX prices going back to 1994. Once again, about a 3-fold growth of NAV over a 20 year period. About a 5.6% annual rate. More or less bond funds grew at about 6% annually past 20 years. I read somewhere that when interest rates hit 8%, back up the truck on bonds. I kind of see where that number might be from. The past 20 years of managed funds grew less than 8%. Maybe just buy the farm at 8% outright and put future cash to other assets.
What’s up with HGTV? I worked out at the gym where my SIL goes and it was all real estate investing, all the time.
Same thing as what happen with A&E I hear. That network used to show more obscure movies? Now it is a cash cow milk machine.
One of the reasons I got rid of cable 2 years ago. I used to enjoy occasional movies or tv serials on TV, but couldn’t stand talk shows (including sports) and reality TV.
I love some of the reality TV because regular sitcoms mostly do not depict what is real. They depict what the MSM wants to imagine is real.
HGTV has been that way for a long time. The “G” part now involves massive hardscape yard re-dos with outdoor kitchens. All the DIY shows fled to other networks. What’s left is all real estate, all the time.
More worthless junk you can borrow for and accelerate your losses.
Anybody else seen Wolf of Wall Street yet?
I did yesterday. It’s no Taxi Driver or Raging Bull but better than The Departed. The Jonah Hill character is especially creepy (”you wanna smoke some crack bro?”). In one part of the film DiCaprio branches out from pimping stocks and makes an infomercial for his Tom Vu real estate seminars. Good stuff.
Court rules that the spying of the “most transparent administration in history” is legal:
http://www.cnn.com/2013/12/27/justice/nsa-ruling/index.html?hpt=hp_t1
All the more reason to disengage and build up the tangibles.
Well DebtDonkeys…… ya lost just a little more today. Just a smidgen… but it adds up day after day…. week after week….. month after month…
We’re proud of you all anyways.
Flying donkey dies of heart attack in animal sanctuary after …
http://www.dailymail.co.uk/news/article-1354013/Flying-donkey-dies-heart-attack-animal-sanctuary-paragliding-ordeal.html -
Two days ago, some men on this blog decided to start a fight that is not related to housing or the economy. The fight was against women. The fight was picked when some losers thought they should advocate for renting wives, rather than buying wives.
As a stand-up girl, I knew I couldn’t let that slide. Unsurprisingly, a bunch of other losery guys had to jump in and defend the boys’ club, all ganging up against little old me, trying to intimidate me into accepting the abusive and horrid statements. I guess you cultural retards have that tendency. Banding together and such. So yesterday, the claim was made that men get taken to the cleaners in divorce court. The implication was that women and children get a bonus.
In fact, women lose more in a divorce than men. The women (you see) are the ones who fulfill their promises up front (sacrificing years of their lives and their own bodies to provide the kids). Then, when it comes time for the man to follow through, he changes his mind, a divorce ensues, and the courts will order him to pay a tiny percentage of the cost of raising the kids. In the meanwhile, the mom has higher costs, plus she gets to continue doing all the work.
So for all of you sissy boys who insist on using the internet as a forum for your continual whining and woman bashing, and all you teenagers who never had a girlfriend but like to act like you are Adam Smith, I have some news for you: Your spitefulness is the thing that got you here. Own it, dweebs.
Forever Here,
The Princess With the Long Blonde Locks (up in the tower)
“Two days ago, some men on this blog decided to start a fight that is not related to housing or the economy.”
Yet this is the second day you have brought this up unsolicited. I would much rather listen to the realtor trolls than this crap. At least they are entertaining at what they do.
Yup, and I will continue bringing it up until the haters capitulate. This blog is not to be used as a forum for trying to make women and girls feel worthless and hopeless. It is the housing bubble blog, not the “I can’t get a girl so now I’m mad” blog.
If dudes want to pick a fight, then they will have one. Otherwise, they can act nice. Every comment will evoke another comment. That’s just how I roll, and it’s a good thing.
There are no haters to do any capitulating. Your alleged “haters” have or had wonderful girlfriends. For the “had” part, that chapter in life is over and there are other things that are nice, like wines, being lazy, putting both feet on the floor when you only want to put those feet on the floor…
You are, in fact, a hater. A person who relishes the thought of being able to purchase another human being, whose bitterness shines through at every available moment. You are so mad because you are not actually able to purchase another human being, no matter how often you claim to have the ability. Girls just don’t want to stick with you because they know they can do better than that. In the meanwhile, since you are so happy with your feet or whatever, you should keep your trap shut about wanting to rent people. You can’t.
there are other things that are nice, like wines, being lazy, putting both feet on the floor when you only want to put those feet on the floor…
Bill who swims ridiculous mileage and talks frequently about how ripped he is, advocating for laziness—now I’ve seen it all.
Those workouts take the wind out of you. Like this morning - finished 6 sets of 400 yard freestyle for main set. My last one was fastest. By far. After a workout like that, total warm up, main set, cool down 3300 yards you want to do … nuthin.
Any Rand must have been a hater. The title of her first fiction was “The Husband I Bought.” Actually I think she “bought” Frank O’Conner. Then cheated on him as a cougar with Nathaniel Branden.
Any Rand did not hate.
Can’t buy me love
I’m going to assume you aren’t trolling since I have seen your handle quite often. That said, you do realize rule #1 of the internet: Never apologize. Do you really think anyone is going to feel remorse about what they said whether they meant it or not? I’m sure lumping the men on the HBB together as “retards, losers, sissies, women haters, virgins and dweebs” is going to garner a lot of support for your cause. Get over it. If you take the internet this seriously, you must be a basket case in real life situations.
Judge:
It is not your position to tell me what to get over and when. You are going to have to live with the fact that hateful, bigoted comments will almost always be met with an argument, a repost, and a lot of right-back-atcha. If you would prefer an internet where only white men are allowed to make verbal attacks about everyone else, then please go to another site. Something along the lines of “men are better than women . commie”.
I also suggest that you brush up on your reading comprehension skills. If you want to lump yourself in with all the other men on the HBB, then you can, but I didn’t. That is one of the biggest difficulties with resisting the abuse that misogynists love to dish out so much. They actually fool the other men into thinking that you all are on the same team. Maybe you could differentiate yourself by speaking out against misogyny yourself. Or does it make you feel stronger to be a member of “the club”?
I don’t expect dweezers like tj, rms, or Bill to ever apologize, but they sure will understand the consequences of their actions. And I know they don’t say these things to the faces of the girls they so desperately want to have in their lives. Dweezers. It’s what they are, and they deserve to be harassed about it.
http://www.nomarriage.com/
A man who thinks, even for one second, that he can “hold the upper hand”, is doomed to a life of bitterness, and will never get anywhere with any girl. Straight up. While your website may warn against marriage, keep in mind that young women are increasingly deciding not to have any kids, which makes marriage (and men) like totally useless anyway.
What were you saying about the upper hand again?
When there are no more bridal magazines, TV shows, stores and the word “bridezilla” is dropped from the vernacular, I will believe you.
As for who has the upper hand, I would say it’s the alpha male types. They seem to get all the nookie they want.
Beta males? Not so much, which is why they increasingly aren’t playing the marriage game anymore, as they now understand that they’re getting screwed, getting stuck with sloppy seconds, and is why half of all babies are born to single mothers.
You sure do jump to big conclusions about things, doncha Colorado? Please show me the research where all the single mothers explain why they’re not married. Hint: It may be because they don’t need an adult child to go along with the baby.
The term “bridezilla” is a derogatory term, designed by men to make brides hate themselves because the men are MAD that these women are able to find husbands, but chose not to find Bill.
What is an alpha-male type? I believe that is a term that is used to describe dogs who live in a pack. We are human beings.
When the world stops creating magazines teaching men how to get girls to like them, and when men no longer need to buy porn because they can’t get a real girl, then I will believe you.
This little war you guys have going off is petty and can’t be won. As long as you are going to flame women, then you are going to be unhappy.
What is an alpha-male type?
Are you really that disingenuous?
I was just at the store, waiting for a prescription to be filled, so I wandered down to the magazine aisle. I counted five different bridal magazines. That’s right … five. I didn’t see any magazines targetting grooms. I also didn’t see any “how to get girls to like you” magazines.
As for Bridezillas, the target audience for the show was women and not men. According to wikipedia, it was broadcast on WE TV, “the channel features original programming and off-network syndicated television series that appeals to a female audience”.
keep in mind that young women are increasingly deciding not to have any kids, which makes marriage like totally useless anyway
So what’s the problem? BiLA is on record that he believes marriage to be useless, so he agrees with you.
The problem is that Bill and his ilk are advocating for the purchase and rental of women, as if women were not human beings. Then y’all act like I’m not allowed to argue against that, under threat of being labeled a “feminazi”. Tell me Colorado, how did the Nazis feel about the rights of human beings?
Bill is dead wrong about the reasons behind the falling fertility rate in the developed world. It’s not because men are waking up to their superiority, and refusing to slum it with chicks. It’s the other way around.
The problem is that Bill and his ilk are advocating for the purchase and rental of women, as if women were not human beings.
I have looked back at his comments. As you probably know, BiLA is not my favorite person in the world, but I did not see any comments of his where he advocated sexual slavery.
Unlike BiLA, I believe in marriage, with the caveat that you need to be VERY, VERY careful when choosing your mate. I know far too many guys who got shafted by unfaithful wives, who even though they had good incomes of their own, still took them to the cleaners in divorce court.
Yeah I challenge KRZYLDY here to point out where I want any type of nonconsential relationship. KRZYLDY is just hoping to sniff up trouble. When she cannot find trouble, she will dream it up!
keep in mind that young women are increasingly deciding not to have any kids, which makes marriage (and men) like totally useless anyway.
Hmm, not sure I see how not having men makes MEN “totally useless”—some women do still seem to enjoy certain activities with men. YMMV. It sounds like maybe you see men’s role as simply to provide genetic material and financial support—is that correct?
not having men
s/not having men/not having kids/
Re: http://www.nomarriage.com/ That site and the ones you posted yesterday won’t ever be discussed outside Internet. It is subversive, just like HBB - for awhile some of us were worried about the safety of Ben, as powers-that-be would not want the truth of the bubble to be out. And the same about Ron Paul, speaking the truth, a lot of Internet grassroots support. You never heard of Ron Paul before the 90s. Some of you never heard of him before 2001. and then the groundswell opposition to gun control and the Obama Regime’s effect on the firearms sales.
All truths. Grassroots movements counter to the MSM, which obviously the public distrusts to such an extent, that whatever the MSM says, the opposite is true.
Conclusions: the Marriage Strike. The Ron Paul revolution. The growth of gun purchases and ammo. The Housing Bubble Blog as the main source of information on SFH real estate. Where is this all leading to. Only good, folks. Only good.
You are completely nuts if you think that weird website is connected somehow to “the truth” of this blog, or that this blog is somehow connected to people who still have the right to bear arms, or that Ron Paul is against marriage, etc.
Your logic is egotistical. There are three things that you like. Therefore, all of those three things must tie into some grandiose, pivotal social movement, and YOU are at (or near) the center, like a prophet. Really Bill, your ego precedes you. Just like all bigots.
By the way, did you notice that the antimarriage website gives a bunch of advice on how to have a happy marriage? Maybe that’s why goon chose it.
In the meanwhile, the mom has higher costs, plus she gets to continue doing all the work.
How do you figure that she “gets to continue doing all the work”?
Most of the divorced fathers I know share time week-on/week-off with their ex-es. That sounds like pretty equitable work-sharing to me!
Some of those ex-es apparently really like their time off, and ask for even more on occasion, even during their weeks-off. One divorced father that I know has his son for three straight weeks over the holidays—at his ex-’s request.
Then, when it comes time for the man to follow through, he changes his mind,
And why do you assume that it is the man who changes his mind? Who pulled the trigger is more evenly split in the divorced couples that I know.
Your stereotypical thinking is showing.
And why do you assume that it is the man who changes his mind? Who pulled the trigger is more evenly split in the divorced couples that I know.
Actually, the ladies pull the trigger close to 70% of the time.
“Most of the divorced fathers I know …” (launches into association-bias, does not hang out with divorced women, wouldn’t know).
How about this:
1) Women are more likely to initiate divorce than men, since there are so many men who think they rule the roost, making life unbearable for the mom and kids.
2) The only purpose of shared custody is to spare the man from having to pay child support. It’s a psychologically unhealthy arrangement for the kids, and overall more expensive. “Most of the divorced fathers I know” don’t actually raise the kids when they’re at his house. The kids run around with no shoes on, eat ice cream for dinner, and then mom has to work harder to correct the behavioral and emotional deficiencies when they get back home. I know some guys who won’t take the kids most of the time because they have a date or whatever.
3) How could anyone ever justify giving child custody to a man who preaches the purchase or trade of women? You can justify it if you think that women are objects, and that girls should be raised to believe that it’s OK to be treated that way, and boys should be raised to treat girls that way, but otherwise it’s a no-go. Judges who grant any kind of custody to a guy who exhibits that behavior are completely biased against women. Well, the court system IS set up to be biased against women, so I guess it makes sense that everyone you know is divorced with such an awful arrangement in place. It is beneficial ONLY to the fathers who slack off during their weeks, pay no child support, and purposely send the kids back home with a weeks-worth of backlogged homework to do.
“Get what you can get for your booty today because it’s going to be less tomorrow for years to come.”
You better believe it.
Cruel HA. But funny!
Some of those eeeevil links I posted refer to “SMV” which means Sexual Market Value. Which sadly (Nature is a cruel b*tch, but if Nature is a female, why is she so cruel?) declines faster for females than for males.
You are adding gasoline to her fire young man
Most of the divorced fathers I know share time week-on/week-off with their ex-es. That sounds like pretty equitable work-sharing to me!
The children do more of the “work” than either parent.
racis
Comment by oxide
2013-12-27 19:07:46
Most of the divorced fathers I know share time week-on/week-off with their ex-es. That sounds like pretty equitable work-sharing to me!
The children do more of the “work” than either parent.
Absolutely!
And I agree 100% with Big V regarding men having custody so that they don’t have to pay child support. The truth is that it’s not even the men who have been pushing for it, but the “Second Wives” (and girlfriends) who don’t want any of “his” money going to “that woman” (the ex-wife) in the form of child support or alimony.
Big V is also 100% correct about women’s contributions to marriage being front-loaded (youth, beauty, and fertility), while men’s contributions are usually back-loaded (money, power, security). Women make their contributions with the implicit and explicit understanding that their husbands will fulfill their end of the bargain — it’s stated often in personal conversations and also in the wedding vows.
Alimony exists to compensate women for the contributions they’ve made toward the marriage when their husbands refuse to fulfill their end of the bargain in the second half of the marriage. Not to mention the fact that women often sacrifice their careers (and friendships, their bodies, etc.) in order to raise the children that carry the man’s last name. Even if she is a SAHM, she is **working,** often working longer and more difficult hours than the “working” spouse.
You guys just can’t stop, can you? You are ADDICTED to arguing the case of the superior male who, oddly, is completely oppressed by the inferior female. Most of you do the same thing regarding race issues.
The poor, poor, white man, downtrodden and abused by the very races and genders who are supposedly completely useless to begin with. If we are so useless, then how do we manage to win all these struggles against you?
And not a single one of you bigots can even stick to the topic of this blog. You’re so OBSESSED with trying to prove your superiority, that you can.not go longer than a few days without hijacking the housing bubble blog, and turning it into the “I hate women and minorities and gays” blog.
Women aren’t “inferior”, they can be as superior as they want to be, they can “have it all”, and they can have it all alone
Dactyl. The nice thing about no marriage, goon, is that both the man and the woman can have it all, all that is their own, without having the thugernment as third partner in the relationship.
A true voluntaryist never marries. Marriage is a needless sanctioning of the state. Same as voting, except voting is far, far, cheaper.
“Dactyl” -”exactly” now how did my iPad dream that up?
Scoping out a campsite for me and the kids, and came across this:
http://picpaste.com/lolol-NaIdvfhl.jpg
After all, he is supposedly from St. PETERSburg and wanted to exhibit the “Peter” of St Petersburg
Typical NAR member.