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
Can it be true......? 2006-12-05 16:51:00 Here is a guy that claims that he went from $4K Lowes card to $1.5M credit debt in just in 32 months. The story is so far fetched that it is hard to believe that it is true.Judge for yourself. Is Supercredit Man for real.
David Lereah speaks.... 2006-12-04 15:38:00 David
reckons that Florida is this century's California. But is that a good thing, David?
Otis takes on the realtors 2006-12-04 15:24:00
Go househunting with a two year old in California. Cute kid, shame about the house.
Rat trouble 2006-12-02 06:15:00
Here is a story about an ethically challenged home seller. This guy offloads a rat-infested house to an unsuspecting buyer. Why tell the buyer that the basement is rented out free of charge to disease-carrying rodents?
"Friday December 1, 2006
The Guardian
When Graham Best and his wife settled in to their smart new house, they thought they had found the perfect home for themselves and their newborn daughter. Then they heard the scratching ...
It was a small house, we'd just done it up, and it was worth almost half a million pounds. The cooker was a seven-ring leviathan, weighing almost a quarter-tonne, and the bathroom looked like something out of the Hip Hotels books. It was smart, it was cool, it was perfect - the ideal spot to bring up our newborn baby and, my wife and I would chuckle smugly, the envy of our friends.
We heard the scratching on the second day after we moved in. It was a horrible noise, 20 seconds of "pfft-pfft-pfft" followed by silence ... and then more of the sa
So there is nothing to worry about.... 2006-12-02 06:08:00 For those looking for reassurance that everything is fine with the housing market, here is an article for you. It is from the Washington post. It appears that prices in most markets have remained stable and that despite falling volumes, things are really OK. The article ends with a line that David Lereah would have difficulty mouthing "Median prices in 70 percent of the nation's metropolitan areas are still growing, and they are likely to continue to do so."
The article had a certain dated quality about it. It reminded me of Washington Post articles from 2004. However, the date at the top of the page is December 2nd, 2006.
This housing crash has only just begun. It may have started in the bubbletowns, but like a plague it will spread.
"The Median Is the Message
By Kenneth R. HarneySaturday, December 2, 2006; Page F01
You might have seen the scary news reports just before Thanksgiving: Housing prices fell nationwide last quarter, the first such decline since 1993. Even grimmer, total Read more:worry
No more bubbles 2006-11-27 15:33:00 The dollar is sliding, house prices are crashing and foreclosures are edging up. Next year will see a massive reset of ARM mortgages. The future is bleak.
Roger Wiegand said it best in his most recent article "Inflation moves into Overdrive". Here is his assessment of the current state of play.
"Nothing is going to stabilize the housing markets. The only thing left for our money controllers is to mitigate the speed of the consumer's housing, debt, and net worth crash. It is going to be a slow motion smasheroo and nothing can stop it. It can be slowed or temporarily stopped with tricky public relations and fallacious government reports and numbers but the conclusion is set in stone. There are no more bubbles for consumers to blow. The die is cast and we can only wait for the ending to arrive."
We have only just begun.... 2006-11-25 19:51:00 Here is great article explaining why house prices are about to slip into the abyss. The article contains four classic charts that show the extent of real estate overvaluation.
1. House prices have outpaced inflation.
2. Even adjusting for quality, prices are way out of line relative to historical averages.
3. Despite the recent limited fall in prices, houses are still far too expensive.
4. New home sales have fallen, but they have a long way to go before they return to the levels seen before the bubble. Inventory is running at 7 months of sales and rising.
Things are going to get a lot worse, before they get better
Financing in Houston 2006-11-23 16:23:00
It was the title of this video clip that grabbed my attention - " the financial environment right to buy a condo in Houston
". The answer wasn't too clear, it had something to do with "five percents", "ten percents" and end users.
Can anyone translate? Read more:Financing
Housing Horror 2006-11-22 16:36:00 The most recent Federal Reserve's Flow of Funds Accounts reads like a horror story. Some of the most recent statistical trends are so perverse that they stretch credibility. Take these recent developmentsIn 1999, total outstanding household debt was $6.4 trillion. As of the end of the second quarter of 2006 total outstanding household debt was $12.3 trillion.In 1999, household mortgage debt stood at $4.4 trillion. At the summer of 2006 it had more than doubled to $9.33 trillion.In 1999, consumer credit outstanding was measured at $1.6 trillion. Today, this stands at approximately $2.4 trillion dollars, signaling a 50% increase in less than seven years.Household assets held as real estate increased by $9 trillion from 2000-2006. Yet household net worth increased by $1.2 trillion.Owner's equity as a percentage of household real estate declined from 58 percent to 54 percent despite soaring prices. The Fed isn't the only institution reporting frightening statistics. Freddie Mac reports Read more:Housing
Foreclosures in the rise - big surprise there. 2006-11-21 13:08:00 With grim inevitability, foreclosures across America are begining to rise. As house prices fall, ARMS adjust and interest rates rise, people can no longer afford their bubbleloans.
Here are Top 10 States with Homes in Foreclosure October 2006:
1. Colorado 1 out of 337 homes (117 % increase)2. Nevada 1 out of 389 homes (557 % increase)3. Georgia 1 out of 449 homes (99 % increase)4. Michigan 1 out of 623 homes (88 % increase)5. Illinois 1 out of 632 homes (144 % increase)6. Florida 1 out of 640 homes (49 % increase)7. Ohio 1 out of 654 homes (55 % increase)8. Tennessee 1 out of 668 homes ( 99 % increase)9. New Jersey 1 out of 675 homes (37 % decrease)10. Utah 1 out of 718 homes (13 % increase)
The data is curtesy of Realtytrac Read more:Foreclosures
Flipper Nation 2006-11-19 17:13:00
Oh happy days, flipping houses for $75 bucks. Now, flippers are lucky if they escape bankruptcy. Read more:Flipper
Orlando 2006-11-18 16:26:00 Can it be true? Orlando
isn't crashing? That's the hokey line being pushed by this "good news" story from a Fox affiliate. Listen and judge for yourself.
Bridging a loan to bankruptcy 2006-12-10 11:55:00
Admittedly, this guy suffers from a credibility gap. Would you go to this guy for a mortgage loan? Thought not.
The substance of what he is saying is particularly disturbing. He seems to suggest that buying a house without selling an existing one is perfectly acceptable. All you need is a bridging loan.
These days, there is a good reason why people can't sell their homes. The housing market is crashing. Taking out a bridging loan to finance a home relocation today will lead to only one place - bankruptcy
. Read more:Bridging
Mortgage brokers - no thanks 2006-12-10 11:57:00
Bet you can't watch more than 30 seconds of this vile infomercial. If you can get to the bit about the free cruise, you are tough, damn tough. You will watch anything.
I have several favorite quotes:"the creative design of loan programs""pulling some cash out of your existing home""grabbing your part of the American dream through the purchase of an existing home""you are the cornerstone of our success" Read more:Mortgage
Seller tips 2006-12-11 16:11:00
Need a sign for your house. This is the guy for you. Read more:Seller
Picky buyer 2006-12-11 16:06:00
Do you remember a time when buyers were desperate to buy. Well, that time ended about 18 months ago. Today, things are different. Now, buyers will reject a potential home deal for the smallest of reasons. Watch and learn.
Seven seconds of madness 2006-12-11 16:01:00
Not quite sure what this one is about. It could represent the desperation of the current home seller. Read more:Seven
Flipper nation 2006-12-16 10:29:00 Flipper
Nation: The Blame Game
Latest episode following our favorite flippers Read more:nation
Bay Area Housing Crash 2006-12-21 17:56:00
What? The Bay area market is crashing? Seems so. "You have just got to price it right.....great time for buyers...market slowing to its lowest level in ten years....housing market is changing......" Read more:Bay Area
, Housing
More from flipper nation 2007-02-03 06:47:00
See the latest installment.OK, OK, it is three weeks old, I missed it when it first came out. Read more:nation
Million dollar phone power 2007-02-03 20:44:00
Here is a classic piece of realtor rubbish. It is long, dreary and yet compulsively awful. As the man with the beard says on tape - "it is a power
ful, powerful experience. Once you listen to this tape, it will change your life for ever." Passionate stuff.
This clip first featured on the classic bubble blog - housing panic. Read more:phone
Real estate scammer goes mad on camera 2007-02-05 19:47:00
Here is a crazy clip where a couple accused of real estate fraud suddenly attack a camera man.
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