lineup32 Posted June 19, 2008 Report Share Posted June 19, 2008 What a chump.. the Chinese have fallen for American marketing lies hook line and sinker! For real excitment of being alive, try surviving a crash in this chinese car! 668461[/snapback] This is really the short and long term issue with oil-emerging market countries skyrocketing consumption relative to 10 15 years ago. Even with a slower world economy oil consumption probably will not decline enough to make much of a price difference. Link to comment Share on other sites More sharing options...
mdporter Posted June 20, 2008 Report Share Posted June 20, 2008 More than 400 real estate industry players have been indicted since March ? including dozens over the last two days ? in a Justice Department crackdown on incidents of mortgage fraud nationwide that stem from the country's housing crisis. The FBI put the losses to homeowners and other borrowers who were victims in the schemes at over $1 billion. "Mortgage fraud poses a significant threat to our economy, to the stability of our nation's housing markets and to the peace of mind of millions of American homeowners," Deputy Attorney General Mark Filip said at an afternoon news conference. Broker, meet Bubba Link to comment Share on other sites More sharing options...
lineup32 Posted June 20, 2008 Report Share Posted June 20, 2008 Here's the thing about California... right now we're most of the way through the prime Spring selling season. So where do we go from here? Here's a few things that are never mentioned in the bullish RE articles: - Commercial RE continues to add vacancies. Vacancies = less jobs - gas prices are at all time highs in CA, cutting into discretionary income - food prices continue to rise, cutting into discretionary income - electricity and natural gas prices will be going up again here this year - the job market is slowing down. New hire expectations in surveyed companies are decreasing, even in silicon valley - Loan availability still sucks for people trying to buy beyond their means. WAMU ceases neg am loans - for "investors" prices aren't low enough to break even or profit on renting a single family home - just about everywhere, the suburbs are getting hit hard price wise. they are more affordable, but first time buyers can't afford because they also can't afford the gas to make a long commute. - peoples pay still not increasing much despite rapidly rising prices - the eCONomy continues to weaken. tax receipts are falling, affecting local and the state government (which impacts all those high salaried public "servants"). the ripple affect to contractors and the general housing industry is still just getting started - finally, mortgage rates are increasing again, lowering affordability 668470[/snapback] don't forget FHA and the GSE's. FHA will go 3% dn with up to 65% Debt to equity!!! Here in Sonoma county, Santa Rosa is a hotbed of lower priced foreclosures that investors or knife catchers depending on your viewpoint have been hitting on pretty hard the last 60 days. 40% of May buyers were non-occupied in the county and you can guess another 20% lied on their mortgage app to get a better rate and lower down so most of the buyers want to do a mim rehab and put these on the rental market in Santa Rosa. Most of these are in the 150K to 350K range and are in rough shape, I know, I been looking over them for a few weeks, so its my guess many of these investors are newbee's and will find the rental market very dificult and soft. One realtor told me that the families that lived in these homes will be the rental market but they have long left the county!!!!! Link to comment Share on other sites More sharing options...
BusKow Posted June 20, 2008 Report Share Posted June 20, 2008 "When you take your hands from the wheel, to pat yourself on the back; That's when you hit the tree" Basil Chapman Fun while it lasted, but may be done for now... Link to comment Share on other sites More sharing options...
BusKow Posted June 20, 2008 Report Share Posted June 20, 2008 of the sector groups I track wrt S&P, the largest upturn was in sub group "corporations", which includes AeroSpace & Defense, Manufacturing, Materials & Construction, and Conglomerates Link to comment Share on other sites More sharing options...
BusKow Posted June 20, 2008 Report Share Posted June 20, 2008 Big time for transports, then the NasDogs Link to comment Share on other sites More sharing options...
BusKow Posted June 20, 2008 Report Share Posted June 20, 2008 in the averaged view, increased positive volume for a small number of issues had little positive impact on price Link to comment Share on other sites More sharing options...
mdporter Posted June 20, 2008 Report Share Posted June 20, 2008 don't forget FHA and the GSE's. FHA will go 3% dn with up to 65% Debt to equity!!!Here in Sonoma county, Santa Rosa is a hotbed of lower priced foreclosures that investors or knife catchers depending on your viewpoint have been hitting on pretty hard the last 60 days. 40% of May buyers were non-occupied in the county and you can guess another 20% lied on their mortgage app to get a better rate and lower down so most of the buyers want to do a mim rehab and put these on the rental market in Santa Rosa. Most of these are in the 150K to 350K range and are in rough shape, I know, I been looking over them for a few weeks, so its my guess many of these investors are newbee's and will find the rental market very dificult and soft. One realtor told me that the families that lived in these homes will be the rental market but they have long left the county!!!!! 668473[/snapback] I always wonder... who came up with the idea that renting single family homes is a good business model for small time "investors"? It's a ton of work and has many pitfalls. You are at the mercy of a tenant behaving properly. Random bad luck can kill your month's profit (water heaters, appliances, roofs, etc). About the only time it seems like a really good idea is when you are in an environment of rapid price inflation. Link to comment Share on other sites More sharing options...
DrStool Posted June 20, 2008 Report Share Posted June 20, 2008 don't forget FHA and the GSE's. FHA will go 3% dn with up to 65% Debt to equity!!!Here in Sonoma county, Santa Rosa is a hotbed of lower priced foreclosures that investors or knife catchers depending on your viewpoint have been hitting on pretty hard the last 60 days. 40% of May buyers were non-occupied in the county and you can guess another 20% lied on their mortgage app to get a better rate and lower down so most of the buyers want to do a mim rehab and put these on the rental market in Santa Rosa. Most of these are in the 150K to 350K range and are in rough shape, I know, I been looking over them for a few weeks, so its my guess many of these investors are newbee's and will find the rental market very dificult and soft. One realtor told me that the families that lived in these homes will be the rental market but they have long left the county!!!!! 668473[/snapback] Real estate "investors" do not alter the supply demand imbalance one iota. Link to comment Share on other sites More sharing options...
roxy Posted June 20, 2008 Report Share Posted June 20, 2008 According to rhoiders the price increase is all good to boost chinese consumption of fuel. "China fuel price rise may bolster consumption" "By restoring refiners to financial health, the increase will encourage them to ramp up production, and the new supplies of fuel will unleash suppressed consumption growth." ""I don't think too much about oil prices, the main thing is the car's performance," said Mr Chao, a 52-year-old businessman shopping for a second car in an upmarket Landrover showroom. "A good car can upgrade your quality of life, reflect the excitement of being alive."" http://www.reuters.com/article/ousiv/idUSPEK8129820080619 I'm skeptic that it will increase consumption because a 20% hike isn't enough against the appreciation oil has suffered in the last year. Don't know what kind of subsidies refineries get but they'll probably keep losing money the way oil has gone up. 668460[/snapback] Any idea how much do they pay per gallon? Link to comment Share on other sites More sharing options...
roxy Posted June 20, 2008 Report Share Posted June 20, 2008 either the tops in or its to da moon for Gold. Schroder tips gold to hit $US5000 Gold prices may rise to $US5000 an ounce as investors seek to protect themselves against accelerating inflation, said Schroder Investment Management, which oversees $US277 billion of assets globally. http://business.theage.com.au/schroder-tip...80620-2tq8.html 668467[/snapback] Gold 5000! Dow 36000! Link to comment Share on other sites More sharing options...
roxy Posted June 20, 2008 Report Share Posted June 20, 2008 More than 400 real estate industry players have been indicted since March ? including dozens over the last two days ? in a Justice Department crackdown on incidents of mortgage fraud nationwide that stem from the country's housing crisis. The FBI put the losses to homeowners and other borrowers who were victims in the schemes at over $1 billion. "Mortgage fraud poses a significant threat to our economy, to the stability of our nation's housing markets and to the peace of mind of millions of American homeowners," Deputy Attorney General Mark Filip said at an afternoon news conference. Broker, meet Bubba 668472[/snapback] If they start waterboarding them we can have all them jailed pretty fast. Enemies of the people! Reminds me something... Link to comment Share on other sites More sharing options...
roxy Posted June 20, 2008 Report Share Posted June 20, 2008 "When you take your hands from the wheel, to pat yourself on the back; That's when you hit the tree" Basil Chapman Fun while it lasted, but may be done for now... 668474[/snapback] I think BAC can fly if they walk out of CFC Link to comment Share on other sites More sharing options...
roxy Posted June 20, 2008 Report Share Posted June 20, 2008 That probably was enough for a short-term bottom Link to comment Share on other sites More sharing options...
lineup32 Posted June 20, 2008 Report Share Posted June 20, 2008 Real estate "investors" do not alter the supply demand imbalance one iota. 668482[/snapback] based on the fact that there is not a move-up buyer? could you explain further please thanks Link to comment Share on other sites More sharing options...
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