cheaprealty net

Ha ha! Way funnier than the actual Cramer schtick.

Costa Rica - on the one hand they say it is affordable and no bubble, and follow up by talking about million dollar properties.

A crash in the US is going to puncture this market like a machete punctures an inner tube - easily. 

Is it time to think about taking some money off the table? If it's better to realize some gains, isn't it a good idea to talk about doing that sometime? Just a thought.

All that money on the table. Lets's buy some cars. Take a trip, buy some guitars, go to dinner, chill and check out the steady drip drip drip of sweet passive income into our GICs.

Luvvin' trashin' rental accommodations, sorry about that, sweet location and half the price. Shh. Don't tell anyone.

Naw, I'd rather own some nice overpriced real estate, yeah that's better.

179,000 foreclosure filings in July alone.

That's not good. 

Good review of the tightening of lending standards recently in the US.   

This spot is a way for this guy to expand his mortgage business with anyone who can get their hands on a buyer with a pulse. I personally find it an interesting illustration of how far gone the market is in the southern US right now. The guy doesn't really candy-coat the situation, and he talks about how easy it is for deals to fall apart and how few buyers there are.

"You gotta like what you do, I love what I do."

Hmm, probably not as much as two years ago, though.

US home prices suffered worst decline since 1987 last quarter - 3% - that works out to 12% in a year if that continues...

Took another look at the total MLS inventory. It is hovering near where it was two weeks ago, the last time I went through this exercise. The decreased inventory is kind of strange considering the number of signs I see these days when I drive around. Driving through the Highlands today it seemed there were more signs than usual. In fact, on some rural corners I saw multiple signs.

Anyway, since my former habit of tracking sales inventory is now in the wobbles of uncertainty, I am trying something different and searching everything listed, without worrying about what or where it is - just search all the listings, and see what shows up.

I thought it would be interesting to look at a breakdown of how many properties are available, and which price ranges have a few or many properties in them.

Hamptons... 

The rent must equal the mortgage payment for my mega million high watt waterfront pad.  I don't care where you work; I will find someone with 17 grand to cough up pronto!  You better scrape together the dough or out you go, I can only rent to high rollers who can pay with gold bars.

From khart566.

Looks like the housing market has to go down after all.

From CBS News - August 26, 2007. 

Summer breeze south of the border, don't catch a cold!

Don't know about the Kenny Loggins, though.

It's Friday, so why not, another great mortgage commercial for late night viewing entertainment.

Please don't dial any of these numbers unless really desperate for entertainment!

Fly! Hip. Groovy.

Or, on the other hand, please do not be offended by our mortgages.

From SuperMouseDV.

Not just a critique of the housing industry, or predatory lending, or fiscal policy, or opaque government plans for the elite - no pretty much all that and more. Activist viewpoint, or maybe just concerned citizen, take your pick. Are things that bad in this age of affluence? As Marshall McLuhan said, the medium is the message - does that make us more aware or completely disconnected from the events we pay attention to by way of the internet and youtube videos?

Hmmm.

From tinfoilhatproduction. Thanks.

"Recession or no recession, the housing slowdown has left few winners over the past year."

Housing related job losses in the US for the week - around 12,000.

Nope, job losses are not connected to recessions, are they?

From reuters.

Best quotes -

Sub-prime, that's code, that's the financial "n word".

We know these loans are unfair, that's why we stopped paying them back?

Who's duping who, John?

Indeed, who is duping who - it's just a big old mess now, isn't it?

A video montage of collapsing buildings symbolizing the destruction visited on the over-extended illiquid mortgage industry.

But as the industry goes down, the executives who piloted these firms so effectively and profitably are where, exactly?

17 people under one roof to make the $4000 mortgage payment? That's not sustainable...

The japanese are now getting a primer on why the mayhem has broken loose. I'm sure there is the potential for schadenfreude, for despite all the panic and protestations, the declining market in America is in its first year or so. The japanese market declined for a much longer period of time following the bursting of the property bubble there in the late 80s. In fact, it declined for almost 15 years afterwards.

Thank you hokuto1031

Here is a short video from maddohartlepool. Tragically, the accommodations shown are now almost beyond the 200,000 pound limit for sheds and tumbledown shacks that my mortgage broker told me I can afford.

"Analysts pontificate over the subprime meltdown and how the Fed should intervene before getting smacked down by the Forbes Bureau Chief that it is corporate welfare and that the banks shouldn't be bailed out by the gov't. "

- atlien991

Best quote - is this a liquidity problem or a solvency problem?

Gee, if it's a solvency problem, what next? 

Love the corporate welfare while the subprime borrowers are stuck in the middle of a financial hurricane of bad loans.

From manbehindthesink, a collage of Cramer, complete with burning charts, if not burning bushes.

Another slideshow style animated breakdown of the mortgage mess, courtesy Hightower. Music choice is rather apropos, too.

Here is an interesting discussion from some "big wigs" on what is happening, not all cupcakes and ice cream. The massive depression proffered by Schiff and the good times are exhorted to continue to roll. Which will it be? I don't know, I'm sure....

By Deutsche Welle TV. Explanation of how investment packages of loans were sold on - and the risk of the credit challenged borrowers turned out to be significant after all - now other debt is tougher to sell, because investors have lost faith in simple products like CDOs. Oh my.

"Credible evidence suggests that the "telestockmeister's" picks aren't beating the market." -- Barron's

Is this a sustained turnaround, or a step on the way down. If the liquidity crisis is stemmed, can it be ended? Are rates still high compared to previous 3 year teaser rates that are still re-setting?

The cost of business loans is down. What will the impact be in the secondary and mortgage renewal markets? Can this boom be salvaged and extended globally one more time?

Thank-you itulip.com for ripping Cramer and his antics better than I ever could. Yes, the horse has indeed left the barn...