Comments on: California Housing Report: Still Going Down in Flames. Median Price for the State $301,000. 37,988 Homes Sold in August. 101,724 Distressed Foreclosure Filings. You do the Math. http://www.doctorhousingbubble.com/california-housing-report-still-going-down-in-flames-median-price-for-the-state-301000-37988-homes-sold-in-august-101724-distressed-foreclosure-filings-you-do-the-math/ How I Learned to Love Southern California and Forget the Housing Bubble Tue, 16 Mar 2010 17:18:40 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Big Bill http://www.doctorhousingbubble.com/california-housing-report-still-going-down-in-flames-median-price-for-the-state-301000-37988-homes-sold-in-august-101724-distressed-foreclosure-filings-you-do-the-math/comment-page-1/#comment-24990 Big Bill Thu, 25 Sep 2008 13:03:22 +0000 http://www.doctorhousingbubble.com/california-housing-report-still-going-down-in-flames-median-price-for-the-state-301000-37988-homes-sold-in-august-101724-distressed-foreclosure-filings-you-do-the-math/#comment-24990 Scared Indio, it's time to leave. The free money is gone. No more liar's loans with false paperwork and a Matricula. No more builder friends looking to throw us out of work and hire you. Just think. You can do what you always wanted to do: go back to your motherland with a handful of pesos. We'll give you a call when we want you back. Scared Indio, it’s time to leave. The free money is gone. No more liar’s loans with false paperwork and a Matricula.

No more builder friends looking to throw us out of work and hire you.

Just think. You can do what you always wanted to do: go back to your motherland with a handful of pesos.

We’ll give you a call when we want you back.

]]> By: dickie bird http://www.doctorhousingbubble.com/california-housing-report-still-going-down-in-flames-median-price-for-the-state-301000-37988-homes-sold-in-august-101724-distressed-foreclosure-filings-you-do-the-math/comment-page-1/#comment-24973 dickie bird Wed, 24 Sep 2008 22:26:24 +0000 http://www.doctorhousingbubble.com/california-housing-report-still-going-down-in-flames-median-price-for-the-state-301000-37988-homes-sold-in-august-101724-distressed-foreclosure-filings-you-do-the-math/#comment-24973 I've read the post blaming this mess on the baby-boomers several times. I don't agree. Gen Y'ers are just as complicit. It's too simple minded to blame this on the boomers. I’ve read the post blaming this mess on the baby-boomers several times.
I don’t agree. Gen Y’ers are just as complicit.
It’s too simple minded to blame this on the boomers.

]]> By: Rumor (probably BS) http://www.doctorhousingbubble.com/california-housing-report-still-going-down-in-flames-median-price-for-the-state-301000-37988-homes-sold-in-august-101724-distressed-foreclosure-filings-you-do-the-math/comment-page-1/#comment-24970 Rumor (probably BS) Wed, 24 Sep 2008 22:11:28 +0000 http://www.doctorhousingbubble.com/california-housing-report-still-going-down-in-flames-median-price-for-the-state-301000-37988-homes-sold-in-august-101724-distressed-foreclosure-filings-you-do-the-math/#comment-24970 I learned this evening that both Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernake departed Capitol Hill today allegedly quite perturbed at the "obstinate" attitude of Congress over their $700 Billion financial bail-out request! Both men answered scores of questions in front of the Senate Banking Committee and both reportedly felt as though Congress refused to acknowledge the urgency of the situation. I am told the real fireworks took place after the public hearings behind closed doors in the Senate. According to one senate staffer who claims to have witnessed the exchange, Senator Chris Dodd allegedly ripped-into Henry Paulson asking who the hell he thought he was dealing with by demanding Congress just fork-over hundreds of billions of dollars in under a week? Paulson allegedly replied, "do whatever you want but as for the Treasury, we will not be intervening any further in the markets. When the markets crash, the banks crash and the economy goes under - and they will - the voters will blame you and dump all of you this November!" Senator Dodd allegedly got so furious at this reply that his face turned beet red and he started roaring curses at Paulson with phrases along the lines of "you fucking Wall Street douchebags. . . ." The senate staffer said Dodd and Paulson almost came to blows!! I learned this evening that both Treasury Secretary Henry Paulson and
Federal Reserve Chairman Ben Bernake departed Capitol Hill today
allegedly quite perturbed at the “obstinate” attitude of Congress over
their $700 Billion financial bail-out request!

Both men answered scores of questions in front of the Senate Banking
Committee and both reportedly felt as though Congress refused to
acknowledge the urgency of the situation.

I am told the real fireworks took place after the public hearings behind
closed doors in the Senate. According to one senate staffer who claims to
have witnessed the exchange, Senator Chris Dodd allegedly ripped-into
Henry Paulson asking who the hell he thought he was dealing with by
demanding Congress just fork-over hundreds of billions of dollars in
under a week?

Paulson allegedly replied, “do whatever you want but as for the Treasury,
we will not be intervening any further in the markets. When the markets
crash, the banks crash and the economy goes under – and they will – the
voters will blame you and dump all of you this November!”

Senator Dodd allegedly got so furious at this reply that his face turned
beet red and he started roaring curses at Paulson with phrases along the
lines of “you fucking Wall Street douchebags. . . .” The senate staffer
said Dodd and Paulson almost came to blows!!

]]> By: Chris http://www.doctorhousingbubble.com/california-housing-report-still-going-down-in-flames-median-price-for-the-state-301000-37988-homes-sold-in-august-101724-distressed-foreclosure-filings-you-do-the-math/comment-page-1/#comment-24967 Chris Wed, 24 Sep 2008 20:44:31 +0000 http://www.doctorhousingbubble.com/california-housing-report-still-going-down-in-flames-median-price-for-the-state-301000-37988-homes-sold-in-august-101724-distressed-foreclosure-filings-you-do-the-math/#comment-24967 I like this site a lot but it doesn't mean it is always accurate. For example we bought the media's coverage on AIG. That coverage is very misleading. AIG's exposure to Financial Investments represent less than 8% of their total business. Of that 8% AIG is on the hook for only the top graded investment in terms of risk (doesn't mean too much with housing but still much better than being on the hook for the bottom grade products). Furthermore the reason why it looked like AIG had to be bailed out was because of regulatory requirements which imposed upon them to come up with $25 billion in cash instantly. But all of AIG insurance companies are somewhat insulated from the parent company and although they are still doing very well and made $25 billion + last year, that money cannot be accessed by the parent company. So did AIG loose a lot of money in that 8% exposure, yes. Was it stupid like everyone else, yes. However let's not confuse a cash flow problem (even if huge) triggered by regulatory requirements with an ailing company. So far as I know AIG has $80 billion + of capital as a whole to meet their obligation. I am not familiar with all the details and someone can easily correct me but this sound a lot different than the media coverage, doesn't. I like this site a lot but it doesn’t mean it is always accurate. For example we bought the media’s coverage on AIG. That coverage is very misleading. AIG’s
exposure to Financial Investments represent less than 8% of their total business. Of that 8% AIG is on the hook for only the top graded investment in terms of risk (doesn’t mean too much with housing but still much better than being on the hook for the bottom grade products).

Furthermore the reason why it looked like AIG had to be bailed out was
because of regulatory requirements which imposed upon them to come up
with $25 billion in cash instantly. But all of AIG insurance companies are
somewhat insulated from the parent company and although they are still doing
very well and made $25 billion + last year, that money cannot be accessed by the parent company.

So did AIG loose a lot of money in that 8% exposure, yes. Was it stupid like
everyone else, yes. However let’s not confuse a cash flow problem (even if huge) triggered by regulatory requirements with an ailing company. So far as
I know AIG has $80 billion + of capital as a whole to meet their obligation.

I am not familiar with all the details and someone can easily correct me but
this sound a lot different than the media coverage, doesn’t.

]]> By: Get your Pitchforks NOW!!!! http://www.doctorhousingbubble.com/california-housing-report-still-going-down-in-flames-median-price-for-the-state-301000-37988-homes-sold-in-august-101724-distressed-foreclosure-filings-you-do-the-math/comment-page-1/#comment-24959 Get your Pitchforks NOW!!!! Wed, 24 Sep 2008 18:35:22 +0000 http://www.doctorhousingbubble.com/california-housing-report-still-going-down-in-flames-median-price-for-the-state-301000-37988-homes-sold-in-august-101724-distressed-foreclosure-filings-you-do-the-math/#comment-24959 F#ck writing/calling your senators/congressmen; this is too important: US Treasury Department (Branch Office) 11099 S La Cienega Blvd Los Angeles, CA 90045 (310) 215-2414‎ F#ck writing/calling your senators/congressmen; this is too important:

US Treasury Department (Branch Office)
11099 S La Cienega Blvd
Los Angeles, CA 90045
(310) 215-2414‎

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