tag:blogger.com,1999:blog-27885619.post8892223529939553940..comments2023-11-03T02:41:15.906-07:00Comments on Real Estate comments: Its not different here.wannabuyhttp://www.blogger.com/profile/04297458705683991405noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-27885619.post-62282656564953255022008-02-11T18:17:00.000-08:002008-02-11T18:17:00.000-08:00Any thoughts on SLC Utah? Thanks Huge bubble. As ...<I> Any thoughts on SLC Utah? Thanks </I><BR/><BR/>Huge bubble. As credit tightens it will lock step with the rest of the west.<BR/><BR/><I> 3. About 80% of the mansions for sale in the Sacramento area appear to be flippers. <BR/><BR/>4. Gained 20 lbs. from eating popcorn...</I><BR/><BR/>ROTFL<BR/><BR/>I toured multiple mansion flips this Sundary for the fun of it. The Realtors (tm) of course knew we weren't serious. But to have six mansions on one block for sale was too much to drive by. <BR/><BR/>Oh, I was lazy. I know of two other areas that have concentrations of $5M+ homes built either on speculation or for flippers.<BR/><BR/>Schadenfreude does require more workouts. ;)<BR/><BR/>Got popcorn?<BR/>Neilwannabuyhttps://www.blogger.com/profile/04297458705683991405noreply@blogger.comtag:blogger.com,1999:blog-27885619.post-35222892226582034372008-02-11T17:27:00.000-08:002008-02-11T17:27:00.000-08:00Dawg, I recall your predictions. Thanks for that. ...<I>Dawg, <BR/>I recall your predictions. </I><BR/><BR/>Thanks for that. I am in some never world where people seem to just slide over my contributions. Good to hear some are still listening. <BR/><BR/><I>Any thoughts on SLC Utah?</I><BR/><BR/>Nigel is eating his words. They are just a year behind most. Of course Nigel will say he is just a better market timer than anyone and only stayed bullish until the timing was just right.Rob Dawghttps://www.blogger.com/profile/10042154106850545479noreply@blogger.comtag:blogger.com,1999:blog-27885619.post-80897648375522204262008-02-11T17:02:00.000-08:002008-02-11T17:02:00.000-08:00Any thoughts on SLC Utah? ThanksAny thoughts on SLC Utah? ThanksAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-27885619.post-17788995295063875382008-02-11T16:49:00.000-08:002008-02-11T16:49:00.000-08:00OK, Neil, here I am!(BTW, don't use my name, I am ...OK, Neil, here I am!<BR/><BR/>(BTW, don't use my name, I am in the industry.)<BR/><BR/>1. Relatives in Mexico City are having financial problems due to real estate...<BR/><BR/>2. Relatives in Ecuador were telling me about condos ($600K!) that are not selling.<BR/><BR/>The bubble went far and wide.<BR/><BR/>3. About 80% of the mansions for sale in the Sacramento area appear to be flippers. <BR/><BR/>4. Gained 20 lbs. from eating popcorn...smfhttps://www.blogger.com/profile/12847798913820707456noreply@blogger.comtag:blogger.com,1999:blog-27885619.post-13039591815187170732008-02-11T04:03:00.000-08:002008-02-11T04:03:00.000-08:00TJ,You're analysis is good enough. The coastal ci...TJ,<BR/><BR/>You're analysis is good enough. The coastal cities were flipping havens. Maybe not in their own cities, but they invested into Phoenix and Florida. <BR/><BR/>Its coming down everywhere. This credit crisis is only in the 2nd inning.<BR/><BR/>Got popcorn?<BR/>Neilwannabuyhttps://www.blogger.com/profile/04297458705683991405noreply@blogger.comtag:blogger.com,1999:blog-27885619.post-41776571198331994512008-02-10T20:21:00.000-08:002008-02-10T20:21:00.000-08:00bye fl,Not speaking for Neil, but my take is that ...bye fl,<BR/><BR/>Not speaking for Neil, but my take is that the level of speculation simply didn't reach the absurd levels it did here. Prices here were totally bubble-dependent. How else do you explain people buying at 10-15x income?<BR/><BR/>Not that there aren't excesses elsewhere, but I would suspect the prices there will be much more reactive to the coming economic downturn than the end of the bubble.<BR/><BR/>Have patience; they'll come down everywhere in time.TJandTheBearhttps://www.blogger.com/profile/10735388072841457108noreply@blogger.comtag:blogger.com,1999:blog-27885619.post-19431791306272374232008-02-10T01:50:00.000-08:002008-02-10T01:50:00.000-08:00Hey Neil, why are house prices sticky in north Geo...Hey Neil, why are house prices sticky in north Georgia, east Tennessee and many other states? <BR/><BR/>It's good to see prices crashing in FL, CA, AZ, NV but what about the rest of the states?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-27885619.post-30753383666665410172008-02-09T10:36:00.000-08:002008-02-09T10:36:00.000-08:00This is going to trap a whole lot of ordinary folk...<I> This is going to trap a whole lot of ordinary folk who were thinking of getting out with their skin and nothing else.</I><BR/><BR/>Dawg, <BR/>I recall your predictions. What amazes me is the last drop on record, November, was higher than my previous predictions (which I thought were fundamentally based) and in November. Not the whack of January or February.<BR/><BR/>Got popcorn?<BR/>Neilwannabuyhttps://www.blogger.com/profile/04297458705683991405noreply@blogger.comtag:blogger.com,1999:blog-27885619.post-88539800693660189062008-02-09T10:06:00.000-08:002008-02-09T10:06:00.000-08:00This is the "stair step" I've been predicting. A ...This is the "stair step" I've been predicting. A sudden downdraft followed by a grinding multi-quarter 0.5-1.5% steady loss environment. This is going to trap a whole lot of ordinary folk who were thinking of getting out with their skin and nothing else.Rob Dawghttps://www.blogger.com/profile/10042154106850545479noreply@blogger.comtag:blogger.com,1999:blog-27885619.post-9228030192380001282008-02-09T09:25:00.000-08:002008-02-09T09:25:00.000-08:00TJ,I was waiting for your comment. :)This is why ...TJ,<BR/><BR/>I was waiting for your comment. :)<BR/><BR/>This is why the nice areas will crash. All of the 'rich' and their multitude of 2nd homes are suddenly going to have to step off the HELOC train. That's not a fun thing to do at 250kmh. <BR/><BR/>Got popcorn?<BR/>Neilwannabuyhttps://www.blogger.com/profile/04297458705683991405noreply@blogger.comtag:blogger.com,1999:blog-27885619.post-17488667471456877962008-02-08T23:26:00.000-08:002008-02-08T23:26:00.000-08:00Considering that Californians were the "equity loc...Considering that Californians were the "equity locusts" that powered the rampant speculation in LV & PHX, it doesn't seem much of a stretch that the markets are synching/sinking. <BR/><BR/>IOW, IT'S ALL THE SAME PEOPLE!!!TJandTheBearhttps://www.blogger.com/profile/10735388072841457108noreply@blogger.comtag:blogger.com,1999:blog-27885619.post-34071959575230077002008-02-08T20:00:00.000-08:002008-02-08T20:00:00.000-08:00sm_landlord,LOL. You're right. At 3% a month, wh...sm_landlord,<BR/><BR/>LOL. You're right. At 3% a month, whatever down payment... is already gone. So now its lost equity for the bank.<BR/><BR/>Got popcorn?<BR/>Neilwannabuyhttps://www.blogger.com/profile/04297458705683991405noreply@blogger.comtag:blogger.com,1999:blog-27885619.post-30915712071460490852008-02-08T17:46:00.000-08:002008-02-08T17:46:00.000-08:00Hi Neil,That's not "equity lost per month" unless ...Hi Neil,<BR/><BR/>That's not "equity lost per month" unless there is no leverage. Leverage works both ways, so I think it's a lot worse than it looks. Or did I miss something?sm_landlordhttps://www.blogger.com/profile/05240427561510825980noreply@blogger.com