Sunday, December 21, 2008

Wednesday, December 10, 2008

The Rise and Fall of the Southern California Housing Empire

"Southern California according to DataQuick reached a peak median price of $505,000 in July of 2007. Since that time, the median price has fallen to $300,000. Keep in mind the median household income for Southern California is under $50,000. So at the peak, it would take the median household income 10 times their annual earnings to purchase a home in the region. "

FULL STORY: The Rise and Fall of the Southern California Housing Empire: Foreclosures, Bad Investments, and Psychological Deception. � Dr. Housing Bubble Blog

Wednesday, November 19, 2008

Foreclosures Are the Market

When the median price peaked at $518,000 in late 2005,
I was telling folks prices could drop 50%, and they said I was crazy.
50% off would be $259,000, we are now at $ 323,500, and still heading in my direction !

Bubble Markets Inventory Tracking: Foreclosures Are the Market

Thursday, November 06, 2008

Geography of the popular vote

Geography of the popular vote

It appears that geography (urban vs. rural) and class (rich vs. poor) have replaced race
as the most significant factors that divide us. The concept of red and blue states was
always outdated, when red and blue counties have always told the true story.
States that Obama won (PA, OH, IN, NV, FL) are almost completely red by geography,
except for the metro areas (Philadelphia, Cleveland, Las Vegas, Miami, etc...)

Sunday, September 07, 2008

Why American Savers Have Drawn the Short Straw

Yes, I save and invest and have no debt.
Currently being rewarded with low interest rates,
but will be able to buy a house for cash at dirt cheap
prices from some moron with a toxic mortgage.

Why American Savers Have Drawn the Short Straw

Sunday, August 03, 2008

When your name gets turned against you

When retired Philadelphia-area doctor and Vietnam veteran Dr. Herman I. Libshitz
went to upgrade his dial-up connection to Verizon DSL, he was informed they
wouldn't complete the order because his last name contained an expletive.

Daniel Rubin: When your name gets turned against you | Philadelphia Inquirer | 07/30/2008

Saturday, August 02, 2008

Glenn Beck's Real Story: Good News, Bad Source

Got to love the optimistic predictions plotted against housing price declines.

YouTube - Glenn Beck's Real Story: Good News, Bad Source

Condo Mania

There is a condo complex in El Cajon I have been following.
Prices are down over 50% and owners have lost $140,00 on average per unit.
My quick math tells me they ended up paying close to $400 per month to
live there whne you factor in the price drop over the average 41 month ownership.

Thursday, June 26, 2008

Countrywide Corruption

The principal author of the Dodd-Shelby housing-bailout bill is Sen. Christopher Dodd, a Connecticut Democrat who chairs the Senate Banking Committee, which has jurisdiction over the mortgage market. Last week, Portfolio magazine revealed that Dodd was one of two U.S. senators who benefited from a program under which Countrywide Financial gave loans at favorable terms to the influential and the powerful.

The Editors on Countrywide Financial on National Review Online

Tuesday, June 24, 2008

Wednesday, May 14, 2008

The Crisis Is Only Getting Deeper

Foreclosure activity in April--that’s default notices, auction sale notices and bank repossessions was reported on 243,353 properties. That’s a 65% increase from April of 2007.

Home Foreclosures: The Crisis Is Only Getting Deeper - Realty Check with Diana Olick -

Wednesday, May 07, 2008

House set to pass sweeping housing rescue bill

The U.S. House of Representatives opened debate on Wednesday on a bill that would create a $300 billion fund to save homeowners from foreclosure, but President George W. Bush threatened to veto the legislation which he said would "reward speculators and lenders."

House set to pass sweeping housing rescue bill

Tuesday, April 29, 2008

For McCain, There's Only One Perfect Candidate for Veep

As a libertarian, there isn't much choice in 2008 (or any other year) No way can I vote for the socialists (aka Democrat candidates Clinton and Obama) It's look like Ron Paul probably will not run as a Libertarian candidate, so it looks like voting Republican might be an option. McCain is pretty moderate compared to right wing Republican party nuts, and Joe Lieberman is pretty moderate compared to Democratic party left wing nuts. Politics has become so left/right liberal/conservative with both sides yelling at each other with no middle ground.

McCain-Lieberman would be a viable ticket.

For McCain, There's Only One Perfect Candidate for Veep

Undoing America's Ethanol Mistake

Undoing America's Ethanol Mistake by United States Senator Kay Bailey Hutchison

Saturday, April 19, 2008

The Clean Energy Scam - TIME

Looks like the major media is figuring out what I have been saying for a long time:
Ethanol is a political scam that does not make economic sense and is not good for the environment

The Clean Energy Scam - TIME

Thursday, April 17, 2008 > 370 Wisconsin Ave

Almost Half Price: $232,900
Sold on 04/07/2005 for $445,000

This is typical small post WWII homes that rose the most near
the top of the boom/bubble, and now are going down the fastest.
Given the location, surprised there are not bars on windows.
Also, lack of interior photos make be think possible trashed rental ? > 370 Wisconsin Ave

Fence Sitters Will Be Sorry

If I were getting a piece of a 6% commission, it is always a GREAT TIME TO BUY !!
Piggington's Econo-Almanac | San Diego Housing Bubble News and Analysis chart is fantastic !

Friday, April 11, 2008

Geologist: Sun’s shift could mean global chill

Not everyone has drunk the Al Gore Global Warming Kool_Aid Yet !
I guess there is still some hope that science may beat politics.

Geologist: Sun’s shift could mean global chill

Monday, March 24, 2008

Saturday, March 22, 2008

WTF - Wawanesa ?

When I lived in Northern California, I had AAA insurance for about $700 per year. Moving to San Diego in 1989 increased my rates to over $1000, and it kept going up. I soon switched to State Farm, the rate were better, the agent was a really nice guy, and they did a decent job fixing my 1986 Honda after a 1996 accident (not my fault). I then discovered low rates at Wawanesa. I paid about $400 for an entire year of coverage (was $720 at State Farm) on the 1999 Honda Civic I briefly owned (my father's car)

When I bought my 2004 Honda Accord the rate was $623 per year. This was not for minumum coverage either but for 250,000/500,000 liability, along with comprehensive and collision with $500 deductibles. I was happy. In 2005 rate went down to $600, then $582 in 2006, and up to $646 in 2007. I was not expecting much change for 2008. I had not received anything in the mail (yet), so I logged onto their site and checked:
MY NEW PREMIUM- $916 ?? A 42% increase - YIKES !!!

They were closed for Good Friday, so I could not call them, but it will be the first thing I do on Monday morning. I already went online and ordered a CLUE report, with nothing on it. Anyone can get one free from Choice Point under the FACT Act

Also went to California DMV site to get the form to request a copy of my driving record. Yes, I got a speeding ticket in Septemnber 2006 in Washington on vacation (first one since 1992), but it has little-to-no impact on my premium in April 2007.

Either there has been an error or Wawanesa was just too good to last :(

Sunday, March 09, 2008

Realty Check with Diana Olick -

"America’s borrowers are not children, and Mommy and Daddy Government shouldn’t be paying the candy store back for the Snickers bars so many borrowers snatched, never really intending to pay for. Let the market correct. Let home prices fall back to a level where good hard-working people can afford nice comfortable places to live. No pain, no gain."

Housing, Bernanke and Principal - Realty Check with Diana Olick -

Thursday, March 06, 2008

E*Trade Woes (and Another Reason to Use Fidelity)

I thought I made a donation to the URI Foundation by filling out the "CHARITABLE DONATION FORM" from the E*Trade website on February 22 and mailing it.

Called on February 29th and was first told I filled out the wrong form, then was told it was fine, it would get processed, and I would get a status update by phone on the 4th.

March 4th comes and goes, no call, so I call them on the 5th. This is when I find out I was lied to in the first call. Apparently the form was received on the 26th, coded improperly and sent off to the wrong department. If I had not called it might have stayed there forever ????

Anyway, was promised another return call, which I have not received yet.
Last week Exxon stock was around $88.50, now $84.50, so donation (and tax deduction) is now worth about $1200 less. Thanks E*Trade !!

I had an account with E*Trade many years ago, was not satisfied and closed it.
Ended up at E*Trade again after they acquired Harris direct (great firm!)
I should have known better !

Tuesday, February 26, 2008

Yet Another Bad Month for the Case-Shiller HPI

From their respective peaks through December, the low, mid, and high tiers were down 26.3%, 21.0%, and 13.1%.

The tally for calendar year 2007 was: -23.1% for the low tier, -16.0% for the middle tier, -8.6% for the high tier, and -15.0% overall.

Yet Another Bad Month for the Case-Shiller HPI | Piggington's Econo-Almanac | San Diego Housing Bubble News and Analysis

Friday, February 22, 2008

URI Foundation Donation

Not the most noble reason to make a donation, but URI provided me the education to get out of Rhode Island.
I'm sure Rhode Island is a nice place for many, but 21 years of my life there was enough ! I hope this helps:

Sunday, February 17, 2008

Music Video Retro Flashback

I added the YouTube Video Player at the bottom of this blog, and it appears I have gone back and found lots of old stuff like:

Kate Bush, Aimme Mann (and some old Til' Tuesday stuff), Veruca Salt (and some Nina Gordon). Rilo Kiley (and Jenny Lewis with Watson Twins), etc .....

Got some Sarah Silverman comedy stuff in there, too !

Not all of my videos are showing up in the player,
so you can access them all here

Flame Wars: The Street Says Mac Users are Pretentious Assholes, PC Users are Cheapskates

Flame Wars: The Street Says Mac Users are Pretentious Assholes, PC Users are Cheapskates

Saturday, February 16, 2008

Home loans failing at record rates; foreclosures up 257% over Jan. '07

Marc Carpenter, a San Diego real estate agent who specializes in defaults, says sometimes it's better for consumers to go into foreclosure than to keep sinking into debt.

One of those people is Dave Pierce, a veteran real estate agent who recently went into default on a five-bedroom, 3,864-square-foot Torrey Highlands home, which he bought for about $1 million 3½ years ago.

Despite his 30 years in the real estate business, Pierce says he misjudged the market, getting in over his head with financing much like thousands of other San Diegans. He can't refinance his loan because his home is now worth far less than he paid for it. He is seeking permission from his lender to do a short sale, selling the home for $790,000 and repaying less than the full amount of his loan. > Home loans failing at record rates; foreclosures up 257% over Jan. '07

Thursday, February 14, 2008

Three's Company

That's 3 REALTORS® on the same small cul-de-sac all foreclosing away.
Bubble Markets Inventory Tracking: Three's Company

I was wondering how many realtors were out there,
so I went to the National Association of Realtors website
Found this Nice table of members

A graph is worth more than a table, so I made one

It looks like 750,000 realtors were enough for several decades.
Now about 1.3 million, almost twice as many as we need ?

Saturday, February 02, 2008

Hillary Housing Care

No need to be responsible.
If you made a bad decision,
the rest of us will bail you out !

Video -

Monday, January 28, 2008

Baseball Fans Wanted !!

This never lived in, fully furnished penthouse has direct entry to both 1004 and 1104. The incredible attention put into every detail was meant to please the most prestigious baseball fan! Its 30 x 27 balcony looks directly into petco park.

2 bedroom, 2 bath, on two floors
Listed for $3,320,000 Paid $1,675,00 on 12/02/2003
Estimated Property Taxes: $25,533 HOA is $700 monthly > 877 Island Ave #1004 - MLS# 070053713

More Than a 50% Drop Since 2006 !

Historic El Cortez Hotel built in 1927, now condos.
HOA fess are high, around $600 per month !!

2 bedroom, 2 bath
Sold for $690,000 on 08/14/06 - now $290,000 > 702 Ash St #405

1 bedroom, 1 bath
Sold for $405,000 on 03/10/06 - now $189,900 > 702 Ash St #802
12 Photos

Saturday, January 26, 2008

OUCH !!!

Bought 07/26/2005 for $510,000
Listed for $355,900
Loss of $154,100
6% commission is $21,345
Total loss of $175,454 or 34.4% > 6180 Broadmoor Dr - MLS# 086003844

Wednesday, January 23, 2008

Housing prices to free fall in 2008

Merrill Lynch forecasted a 15 percent drop in housing prices in 2008 and a further 10 percent drop in 2009, with even more depreciation likely in 2010.

By contrast, the National Association of Realtors (NAR) expects housing prices to remain flat in 2008. NAR did cut its home price estimate for the current quarter, however, to a 5.3 percent year-over-year decline, which represents the steepest drop in that price measure on record. But NAR sees an uptick in home prices in the last two quarters of 2008.

Housing prices to free fall in 2008

Feeling Misled on Home Price, Buyers Sue Agent

Feeling Misled on Home Price, Buyers Sue Agent

Thursday, January 17, 2008

Thursday, January 10, 2008

The Most Expensive States For Speeding Tickets

The Most Expensive States For Speeding Tickets

I should consider myself lucky my September 2006 ticket in Washington state was only $91.

Tata Nano: The $2500 Tata Nano, Unveiled in India

Tata Nano: The $2500 Tata Nano, Unveiled in India

Detroit ignored Japan (Toyota/Honda), then Korea (Kia/Hyundai),
and now India (Tata) and soon China (Chery)