Been a while, whoa I be back!
The Economic El Nino has arrived!!we have seen some of the finacial storms, hurricanes and supporting financial jet streams and they are not done yet.Keep a weather eye out!
C2C aka Coconutz!
Tuesday, March 03, 2009
Monday, November 06, 2006
What's that sound?
GOPhas zccpeted and promted the loss of both the house and the senate because they see the economy collapsing inevitably.
They leaked their own stories on their own people on purpose to lose and blame the forthcoming collapse on the democrats and that' how they hope history will remember it and eventually after the biggest nationwide problems since the great depression.
Then eventually everyone will be negative on Dems and you will have another century filled with reps dominating.
You heard it here first from,Coconutz!
They leaked their own stories on their own people on purpose to lose and blame the forthcoming collapse on the democrats and that' how they hope history will remember it and eventually after the biggest nationwide problems since the great depression.
Then eventually everyone will be negative on Dems and you will have another century filled with reps dominating.
You heard it here first from,Coconutz!
Sunday, February 19, 2006
the BuBBle RaP, Part I
2006-02-19 14:11:56
The Bubble Rap, part I,
Yah, uh-huh
flippers turn to trippers, in a world they didn’t want to understand
for them the popping of the bubble means doomsday is at hand
lying realtors telling suckers the price would never go down
now telling sellers to drop their price, with a lack of comission frown
they went from interest only to no home, homey!
The Bubble Rap, part I,
Yah, uh-huh
flippers turn to trippers, in a world they didn’t want to understand
for them the popping of the bubble means doomsday is at hand
lying realtors telling suckers the price would never go down
now telling sellers to drop their price, with a lack of comission frown
they went from interest only to no home, homey!
Monday, February 13, 2006
S
PRINT ARTICLE
E-MAIL ARTICLE
CHANGE TYPE SIZE
Friday, February 10, 2006
Fewest in O.C. on record can afford a single-family house
Only 10% earn $171,000 a year, enough to buy a $702,290 home, Realtors report.
By JEFF COLLINS The Orange County Register
Graphic Click here to see chart.
Only 10 percent of Orange County residents could afford to buy a house here at the median price or higher in December, the lowest level ever, new figures released Thursday show.
Buyers would have to earn more than $171,000 a year to afford a median-priced single-family home in Orange County at the end of 2005, according to the California Association of Realtors. Just 10 percent of local households earn that much.
That figure assumes that buyers used a 30-year fixedrate loan, made a 20 percent down payment and paid the $702,290 that the association determined to be the median single-family home price.
Early January figures from DataQuick Information Systems show the median price for an Orange County home, including condominiums, fell to $582,000, down from December's record median price of $621,000, because of a decrease in median new-home prices in that period.
DataQuick analyst John Karevoll has previously said such fluctuations in new-home prices likely are caused by home shoppers switching from houses to condos, which are less expensive.
Financing the purchase became more costly. Fixed-rate mortgages rose above 6 percent for the first time this year, and adjustable-rate mortgages, or ARMs, hit their highest level in three years, according to the National Financial News Services.
The region's average rate for a 30-year fixed loan with a one-point fee was 6.03 percent this week, the service reported.
A one-year ARM with a two-point fee was just under 4.2 percent.o what!?? Happens Next??
PRINT ARTICLE
E-MAIL ARTICLE
CHANGE TYPE SIZE
Friday, February 10, 2006
Fewest in O.C. on record can afford a single-family house
Only 10% earn $171,000 a year, enough to buy a $702,290 home, Realtors report.
By JEFF COLLINS The Orange County Register
Graphic Click here to see chart.
Only 10 percent of Orange County residents could afford to buy a house here at the median price or higher in December, the lowest level ever, new figures released Thursday show.
Buyers would have to earn more than $171,000 a year to afford a median-priced single-family home in Orange County at the end of 2005, according to the California Association of Realtors. Just 10 percent of local households earn that much.
That figure assumes that buyers used a 30-year fixedrate loan, made a 20 percent down payment and paid the $702,290 that the association determined to be the median single-family home price.
Early January figures from DataQuick Information Systems show the median price for an Orange County home, including condominiums, fell to $582,000, down from December's record median price of $621,000, because of a decrease in median new-home prices in that period.
DataQuick analyst John Karevoll has previously said such fluctuations in new-home prices likely are caused by home shoppers switching from houses to condos, which are less expensive.
Financing the purchase became more costly. Fixed-rate mortgages rose above 6 percent for the first time this year, and adjustable-rate mortgages, or ARMs, hit their highest level in three years, according to the National Financial News Services.
The region's average rate for a 30-year fixed loan with a one-point fee was 6.03 percent this week, the service reported.
A one-year ARM with a two-point fee was just under 4.2 percent.o what!?? Happens Next??
Sunday, February 12, 2006
Ah the numbers…I have the Dataquick numbers before me.
Is it Christmas already? Do we all love home builders, or what?
Where do I start?
First, the YOY sales volume in Huntington Beach is down in all four zip codes.92646 -13.7%92647 -51.0%92648 -20.8%92649 -39.5%
Next, we have had a PRICE DECLINE in 92646——-> -5.6% to $510,000.
That’s enough to make me do flips.BUT WAIT, THERE’S MORE!
1. The median price of a home in OC FELL $39,000 in less than a month from $621,000 to $582,000.
2. The median price of a USED home is $665,000. The median price of a NEW home is now $495,000. It costs $170,000 MORE to buy a USED home than a NEW home in OC.
3. In terms of the median price of a home, we are only $37,000 from showing a YOY DECLINE.
4. There are 15,315 homes for sale in OC, according to www.ocrealestatefinder.com.
5. The price of a NEW home has fallen -36.1%.
6. The price of a USED home has gone up +16.7%.
The topping on the cake…
In typical fashion, before and after the Dataquick numbers, The Orange County Register decided to NOT talk about the OBVIOUSLY HORRIBLE NEWS, and decided instead to talk about the Anaheim Angels Name Controversy (Johnathan Lansner, Housing Whore), and what an interesting company New Century Financial is (Subprime Lending Shylocks).
In the world of Orange County Real Estate, a very large nuclear bomb went off today.
Homeowners have no idea how screwed they are.
Their homes are priced $170,000 ABOVE the prices of NEW HOMES.
And remember, these numbers are A MONTH OLD.
Back when these numbers were happening…
There were ‘only’ 13, 500 homes on the market.
Now there are 15, 315.
Wow.
Wow wow wowzy wow wow.
Wow.
I think I need a drink…
Is it Christmas already? Do we all love home builders, or what?
Where do I start?
First, the YOY sales volume in Huntington Beach is down in all four zip codes.92646 -13.7%92647 -51.0%92648 -20.8%92649 -39.5%
Next, we have had a PRICE DECLINE in 92646——-> -5.6% to $510,000.
That’s enough to make me do flips.BUT WAIT, THERE’S MORE!
1. The median price of a home in OC FELL $39,000 in less than a month from $621,000 to $582,000.
2. The median price of a USED home is $665,000. The median price of a NEW home is now $495,000. It costs $170,000 MORE to buy a USED home than a NEW home in OC.
3. In terms of the median price of a home, we are only $37,000 from showing a YOY DECLINE.
4. There are 15,315 homes for sale in OC, according to www.ocrealestatefinder.com.
5. The price of a NEW home has fallen -36.1%.
6. The price of a USED home has gone up +16.7%.
The topping on the cake…
In typical fashion, before and after the Dataquick numbers, The Orange County Register decided to NOT talk about the OBVIOUSLY HORRIBLE NEWS, and decided instead to talk about the Anaheim Angels Name Controversy (Johnathan Lansner, Housing Whore), and what an interesting company New Century Financial is (Subprime Lending Shylocks).
In the world of Orange County Real Estate, a very large nuclear bomb went off today.
Homeowners have no idea how screwed they are.
Their homes are priced $170,000 ABOVE the prices of NEW HOMES.
And remember, these numbers are A MONTH OLD.
Back when these numbers were happening…
There were ‘only’ 13, 500 homes on the market.
Now there are 15, 315.
Wow.
Wow wow wowzy wow wow.
Wow.
I think I need a drink…
Sunday, January 29, 2006
WHIR! WHIR! WHIR! Here comes the Helicopter!
S"Helicopter Ben" is no Paul Volcker
Peter Schiff
Never has a changing of the monetary guard taken place with the U.S. economy in so precarious a position. When Paul Volcker arrived, everyone knew the economy was a mess. Volcker's obvious job was to clean it up. Today, the general perception is that Alan Greenspan will leave the economy in great shape, and that Bernanke's job will be to keep it that way. However, nothing could be the further from the truth. Wall Street's positive reaction to the appointment of Ben Bernanke is yet another example of how completely clueless most investors are when it comes to the Fed and the precipice over which America's economy now teeters.
Historically, the markets have always found a way to test the resolve of an incoming Fed Chairman. For Bernanke, that test is likely to come in the form of his commitment to maintain the purchasing power of the dollar, in direct contrast to his previous statements with respect to his willingness to sacrifice it. That aim can only be achieved by aggressively raising interest rates, even in the face of falling asset prices and recession.
In an apparent attempt to reassure the markets, Bernanke pledged to continue both Greenspan's agenda and America's prosperity. The reality however, is that we need a Fed chairman willing and capable to do the opposite -- to clean up Greenspan's mess, not make it bigger. America's apparent prosperity is nothing but an illusion built on the phony foundation of inflated asset values and consumer debt. Greenspan's strategy to delay America's return to economic viability for the sake of political expediency has come at great cost to the nation's future standard of living. What we need is a Fed Chairman willing to take away the Greenspan punch bowl before Americans drink themselves to death.
Then there is the problem of propping up the dollar. With few exportable products creating demand for US currency, the trillions of dollars now in global circulation maintain their value only as a consequence of faith. For the last several years, that faith has in large part resulted from the near deification of Alan Greenspan. Whether justified or not, such faith will not simply transfer like a baton to Bernanke; it will have to be earned. Given the statements that Bernanke has already made with respect to the use of the invention of the printing press to create unlimited amounts of money at virtually no cost, his advocacy of the Fed doing whatever it takes to combat deflation, including the buying of long-term government bonds, stocks, real estate, and even consumer goods, such as automobiles, as well as his reference to dropping dollar bills from helicopters, which earned him the nickname "Helicopter Ben," gaining the world's confidence will not be easy.
Some have speculated that Bernanke might actually be an inflation "hawk" as a result of his apparent support of "inflation targeting," where consumer price increases are held within a certain limit. However, as rising prices are merely a result of inflation, true inflation targeting would entail limiting the growth of the money supply, something at which Greenspan has failed miserably. Given his constant reassurance that inflation is well contained, as well as his fixation on the "core" CPI, such speculations seem completely without merit. Once Bernanke's many speeches become more widely scrutinized, he will quickly be seen for the inflation "dove" that he is.
When the Federal Reserve was first established, its function was to provide an "elastic money supply", one that grew as the economy expanded, and shrank as it contracted. However, modern central bankers grow the money supply during economic expansions, and then grow it even faster during contractions. As a result the Fed has become nothing more than an engine of inflation, growing the money supply indefinitely, in direct contradiction to its original mission. Had such a hair-brained scheme been proposed during its inception, the Federal Reserve never would have been established in the first place.
October 27, 2005
Peter D. Schiffcary Recommendations here: Get out of U.S. Real estate.
Peter Schiff
Never has a changing of the monetary guard taken place with the U.S. economy in so precarious a position. When Paul Volcker arrived, everyone knew the economy was a mess. Volcker's obvious job was to clean it up. Today, the general perception is that Alan Greenspan will leave the economy in great shape, and that Bernanke's job will be to keep it that way. However, nothing could be the further from the truth. Wall Street's positive reaction to the appointment of Ben Bernanke is yet another example of how completely clueless most investors are when it comes to the Fed and the precipice over which America's economy now teeters.
Historically, the markets have always found a way to test the resolve of an incoming Fed Chairman. For Bernanke, that test is likely to come in the form of his commitment to maintain the purchasing power of the dollar, in direct contrast to his previous statements with respect to his willingness to sacrifice it. That aim can only be achieved by aggressively raising interest rates, even in the face of falling asset prices and recession.
In an apparent attempt to reassure the markets, Bernanke pledged to continue both Greenspan's agenda and America's prosperity. The reality however, is that we need a Fed chairman willing and capable to do the opposite -- to clean up Greenspan's mess, not make it bigger. America's apparent prosperity is nothing but an illusion built on the phony foundation of inflated asset values and consumer debt. Greenspan's strategy to delay America's return to economic viability for the sake of political expediency has come at great cost to the nation's future standard of living. What we need is a Fed Chairman willing to take away the Greenspan punch bowl before Americans drink themselves to death.
Then there is the problem of propping up the dollar. With few exportable products creating demand for US currency, the trillions of dollars now in global circulation maintain their value only as a consequence of faith. For the last several years, that faith has in large part resulted from the near deification of Alan Greenspan. Whether justified or not, such faith will not simply transfer like a baton to Bernanke; it will have to be earned. Given the statements that Bernanke has already made with respect to the use of the invention of the printing press to create unlimited amounts of money at virtually no cost, his advocacy of the Fed doing whatever it takes to combat deflation, including the buying of long-term government bonds, stocks, real estate, and even consumer goods, such as automobiles, as well as his reference to dropping dollar bills from helicopters, which earned him the nickname "Helicopter Ben," gaining the world's confidence will not be easy.
Some have speculated that Bernanke might actually be an inflation "hawk" as a result of his apparent support of "inflation targeting," where consumer price increases are held within a certain limit. However, as rising prices are merely a result of inflation, true inflation targeting would entail limiting the growth of the money supply, something at which Greenspan has failed miserably. Given his constant reassurance that inflation is well contained, as well as his fixation on the "core" CPI, such speculations seem completely without merit. Once Bernanke's many speeches become more widely scrutinized, he will quickly be seen for the inflation "dove" that he is.
When the Federal Reserve was first established, its function was to provide an "elastic money supply", one that grew as the economy expanded, and shrank as it contracted. However, modern central bankers grow the money supply during economic expansions, and then grow it even faster during contractions. As a result the Fed has become nothing more than an engine of inflation, growing the money supply indefinitely, in direct contradiction to its original mission. Had such a hair-brained scheme been proposed during its inception, the Federal Reserve never would have been established in the first place.
October 27, 2005
Peter D. Schiffcary Recommendations here: Get out of U.S. Real estate.
Santa Barbara Realtor's no longer supplying data to media!
Must be because: (Your answer here)
Top > California > Santa Barbara
Market Conditions for Santa Barbara, CaliforniaReported by Pam Glasser Covington, REALTORAs of January 6, 2006.
Current Market Rating: 3
1
2
3
4
5
Buyer's
Seller's
Current Price Trend: 3
1
2
3
4
5
Falling
Rising
Happy New Year Everyone!Now that the holidays are over we should expect to see some new stimulation in the market. With interest rates still favorable and prices remaining stable, there is no time like the present for buyers to make their move.
Must be because: (Your answer here)
Top > California > Santa Barbara
Market Conditions for Santa Barbara, CaliforniaReported by Pam Glasser Covington, REALTORAs of January 6, 2006.
Current Market Rating: 3
1
2
3
4
5
Buyer's
Seller's
Current Price Trend: 3
1
2
3
4
5
Falling
Rising
Happy New Year Everyone!Now that the holidays are over we should expect to see some new stimulation in the market. With interest rates still favorable and prices remaining stable, there is no time like the present for buyers to make their move.
The sound after you hit the toilet handle!
I've heard this sound for a while, but now I can clearly recognize it. I look down and see real estate is in the craper the handle has been pushed and I await to see the water getting sucked down into the sewer. Coconutz!
Subscribe to:
Comments (Atom)
