Owner: Housing Crash TV URL:http://housingcrashtv.blogspot.com Join Date: Sat, 18 Nov 2006 08:39:34 -0600 Rating:0 Site Description: The US housing market is crashing. Watch it happen. Site statistics:Click here
Booyah 1970-01-01 00:59:59 Here is Jim Cramer talking about housing, loans and how things really ain't that bad. Hat-tip to lou minatti for another great youtube video.
Equityitis 1970-01-01 00:59:59 This clip concerns the Irish property market, which is probably the maddest baddest bubble in the world. However, this clip is very funny, and well worth watching. We have a new word in the English lexicon - equityitis.
Belfast housing 1970-01-01 00:59:59 Check out this mad speculator queuing up to buy a pre-construction condo in Belfast, Northern Ireland. This guy thinks that property prices will "increase by 100 percent" in two years. 15 years ago, Belfast was a war zone, today it is bubbletown.
Keep away from Northern Virginia, folks 1970-01-01 00:59:59 This clip comes from a local northern virginian TV station. It starts out talking about a money losing condo project out in the boonies. But check out the language of these local commentators; it is extreme to say the least. "It is a bloodbath in NorthernVirginia
""It has gone from panic-to-buy to a panic-to-sell" Read more:folks
It takes brass balls to sell real estate 1970-01-01 00:59:59 Although this clip is dark and grainy, the dialogue is first rate. Taken from the 1980s film - Glengarry Glenross - Alex "always be closing" Baldwin explains what it takes to sell real
estate. The philosophy is simple"The only thing that counts in this life - get them to sign on the line". Certainly, this advice was taken to heart by many of the nation's subprime lenders. Alex also comes through with a great incentive scheme for the luckless salesman:"First prize is a Cadillac; second prize; a set of steak knives, third prize - YOU'RE FIRED".
One minute primer on subprime mortgages 2007-03-01 18:44:00 The delivery is a bit dry, but the content is clear enough; here is a one-minute primer
on subprime loans. The main lesson is that if you are a realtor and you sell one of these loans, you get more money. What could be simpler? Well, you would think that people would take a look at the repayment capacity of people taking out these loans. Judging by the massive increase in subprime defaults, that simple point was not well understand by many lenders. Read more:subprime mortgages
The UK housing market - the experts speak 2007-03-04 19:41:00 The UK property market is the maddest baddest one of them all. Prices aren't just unaffordable, are in the twilight zone of overvaluation. London is probably the most inflated market in the work. It may not even be a housing market
as most normal people understand the term. Rather, it may have become one giant fraud perpetrated on over-wealthy foreigners, mostly new Russians, who have more money than sense.This little video highlights the deep sense of confusion that characterizes the UK market. Everyone knows that the market is massively overvalued, but those prices just keep going up. Where will it end? When will it end? Read more:speak
Could it happen again....? 2007-03-07 17:26:00 Here is a nine minute reminder of the great crash of 1929. Doom, gloom, depression, and recession from another age. Over 5,000 banks went under, and GDP fell by 50 percent. The day was saved by Roosevelt and the invention of government financed entitlements.
Another subprime primer 2007-03-07 17:20:00 Suddenly, the main stream media has discovered the perils of subprime lending. Here is a one minute guide to the beast that is now beating up Wall street. Read more:primer
It has got to be real 2007-03-13 17:09:00 Here is one of those 30 second realtor ads that just leaves you in opened-mouthed shock. The target group is young women on the verge of selling their condo and moving in with some loser. The magical realtor "organised everything" and "worked around my schedule". Of course, the realtor manages to sell "her" condo before "his".The ad finishes with the background singer bellowing out "it has gotta be real". However, there is nothing real about the phoney lifestyle portrayed in this nasty piece of realtor hype.
Jack is back 2007-03-13 16:56:00 Here is another video clip with Attorney Jack Garson. The clip follows the story of a DC home owner to buys one overpriced house but fails to sell his existing home. He ends up with two mortgages costing $9,000 a month. Inevitably, his surplus housing is destroying his savings. Rather than making you rich, housing is often a fast track to poverty and bankruptcy.
Ms Mortgage broker 2007-03-14 20:21:00 After watching this video, you will understand why ads are usually just 30 second long. Go on, test your endurance, how much crap can you absorb without pressing the stop button. This clip tries to explain why home buyers need a mortgage broker. The basic point is that taking a loan out is "real complicated". Yet if it is so complicated, then why people with lousy credit were able to get 100 percent interest only loans? Moreover, if mortgage brokers really were as effective as the clip suggests, then why did so many people end up with inappropriate mortgage products? Or to put it another way, why are foreclosure and delinquency rates rising? Could it be because of Ms. Mortgage
broker?
Let's dance 2007-03-15 18:26:00 Here is a home video from the Long Beach branch of New Century Financial, the subprime lender that went bust earlier this week.It is not hard to see why these jokers went under. The loan officers were dancing and goofing around when they should have been checking out the borrowers. "You wanna no doc interest only loan. Sure, fill out this form, and hold on while I boogie around the cubicle to Michael Jackson".Bizarre, totally bizarre.
Another offensive realtor ad 2007-03-18 11:54:00 This ad might seem like realtors trying to be funny, but think about the underlying premise of this ad and you will quickly realise that there is something really nasty going on here. If you want to understand the just exactly how stupid realtors think homebuyers are, then you will will find it here. The premise of this ad is that the new homeowner can not distinguish a wardrobe from a toilet.Realtors would like everyone to believe that buying a homse is so complicated and we Americans are so stupid that we can't live without them. In fact, we are so dumb that we need them to go to the toilet. On that offensive and insulting basis, realtors justify their 6 percent commissions.
Realtor daycare 2007-03-18 11:46:00 This is a really strange ad. It is from from a corporate real estate leasing company in Australia. The ad points out that the leasing company has set up a daycare center for its clients.Of course, daycare centers are great things. However, I doubt very much whether any of the potential clients for this leasing company would have daycare centers high on their list of requirements. After all, isn't real estate all about location, location and more location?The realtor company management probably weren't looking too closely when the ad company pitched them this idea. Read more:Realtor
Steven Lockmillar presents another fine American home 2007-03-19 18:22:00 Finally, we meet a realtor that we can love. Steven
Lockmiller presents American
River Fine Homes. Personally, I would buy a home from this guy. Compared to the realtors I know, this guy seems like a model of respectability.Enjoy....
Goodbye to all that 2007-03-23 18:35:00 Here it is; the whole bubble story in one 6 minute video. At times, it gets a little tough to watch - there is just too much emotion here. A timely reminder that the housing bubble was, above all, a human tragedy. Read more:Goodbye
Another hairy loan from New Century 2007-03-31 10:01:00 This clip covers a story of a vulnerable old woman who was sold an inappropriate subprime mortgage. Who was the lender? It was New Century
. The company is teetering on the brink of bankruptcy. If New Century
made a business out of selling loans to high risk clients like the one in this clip, it is not hard to understand why their default rate shot up.You have to wonder what the financial market regulators were doing. Were they paying any attention to companies like New Century? Seems not. Read more:hairy
Just another busted subprime lender 2007-03-31 09:49:00 Here is an interesting clip following the demise of yet another subprime lender. At the moment, there are so many subprime lenders going out of business that it no longer is a newsworthy item.
Housing roller oaster 2007-04-04 21:17:00 Here is a very clever visualization of the recent US housing bubble. Using Atari's RollerCoaster Tycoon, it plots US home prices, adjusted for inflation (via Shiller's Irrational Exuberance), as a rollercoaster.The last part of the journey seems to go on forever. And then, you are left hanging in mid-air. The only way is down..... Read more:Housing
Renting in America 2007-04-04 18:41:00 Here is a first rate clip about what it is like to rent in America
today. Now that house prices are crashing, renting is now starting to look like the smart move. Read more:Renting
Foreclosure in America 2007-04-04 15:43:00 There are some people who think that people who end up in foreclosue have only themselves to blame. However, the reality is that losing your home is a personal catastrophe. I don't blame the poor, sometimes misguided homeowners who took on more debt than they should have. I blame the mortgage lenders, the realtors and above all the Fed, who should have been regulating these jokers.This video is hard to watch. However, it does reflect the reality of the sub prime crisis. Ordinary folks are being hurt. Read more:America
, Foreclosure
creepy video exposing the UK housing bubble 2007-04-03 20:11:00 It is bit of a mystery why this guy chose to darken the video
clip. It all looks a bit creepy
. However, the analysis of the housing market is first rate. Starts off slow, but gets better as it goes along.
Will the real estate market crash? 2007-04-06 18:44:00 Given the mountain of data out there showing that delinquencies are up, prices and down and inventory piling up like snow in winter, I thought that answer would be obvious.However, I am wrong. The guy in this clip tells me that while prices might fluctuate a little, the market won't crash
.I am going to say something really hurtful about this guy; he looks like a realtor. Read more:market crash
Just for laughs, I thought it might be interestin... 2007-04-06 18:37:00 Just for laughs, I thought
it might be interesting to check out some of those clips from real estate investing courses. This one is from flippinghomes.com.This guy might be talking english, but I don't understand what he is saying. He spouts one useless aphorism after another. One line stands out "making money is about focus". This is about as useful as telling someone, buy high and sell low (or is it the other way round?). The housing market is now into its second year of collapse. These guys are dinosaurs, stuck in another long gone time.
Remember? 2007-04-08 17:35:00 No one in the UK now remembers that between 1989 and 1996, house prices fell by 35 percent in real terms. Here is a reminder courtesy of Spitting image. Read more:Remember
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