Comments on: Manias, Panics, and Crashes: 2007 First Quarter All-Stars – Foreclosures, Subprime, and Politics. Five Characteristics of a Housing Bubble. http://www.doctorhousingbubble.com/manias-panics-and-crashes-2007-first-quarter-all-stars-%e2%80%93-foreclosures-subprime-and-politics-five-characteristics-of-a-housing-bubble/ How I Learned to Love Southern California and Forget the Housing Bubble Tue, 06 Jan 2009 09:51:20 +0000 http://wordpress.org/?v=2.2.2 By: Bush http://www.doctorhousingbubble.com/manias-panics-and-crashes-2007-first-quarter-all-stars-%e2%80%93-foreclosures-subprime-and-politics-five-characteristics-of-a-housing-bubble/#comment-8601 Bush Sat, 23 Feb 2008 21:12:50 +0000 http://www.doctorhousingbubble.com/manias-panics-and-crashes-2007-first-quarter-all-stars-%e2%80%93-foreclosures-subprime-and-politics-five-characteristics-of-a-housing-bubble/#comment-8601 National Transportation Safety Board recently divulged they had funded a project with the US auto makers for the past five years. The NTSB covertly funded a project whereby the auto makers were installing black boxes in four wheel drive pickup trucks in an effort to determine, in fatal accidents, the circumstances in the last 15 seconds before the crash. They were surprised to find in 49 of the 50 states the last words of drivers in 61.2% of fatal crashes were, "Oh, Shit!" Only the state of Texas was different, where 89.3% of the final words were, "Hey Y'all, hold my beer and watch this!" National Transportation Safety Board recently divulged they had funded a project with the US auto makers for the past five years. The NTSB covertly funded a project whereby the auto makers were installing black boxes in four wheel drive pickup trucks in an effort to determine, in fatal accidents, the circumstances in the last 15 seconds before the crash.

They were surprised to find in 49 of the 50 states the last words of drivers in 61.2% of fatal crashes were, “Oh, Shit!”

Only the state of Texas was different, where 89.3% of the final words were, “Hey Y’all, hold my beer and watch this!”

]]> By: zoax http://www.doctorhousingbubble.com/manias-panics-and-crashes-2007-first-quarter-all-stars-%e2%80%93-foreclosures-subprime-and-politics-five-characteristics-of-a-housing-bubble/#comment-1619 zoax Wed, 08 Aug 2007 00:06:00 +0000 http://www.doctorhousingbubble.com/manias-panics-and-crashes-2007-first-quarter-all-stars-%e2%80%93-foreclosures-subprime-and-politics-five-characteristics-of-a-housing-bubble/#comment-1619 Dr. Bubble,<br/><br/>As I'm getting caught up on your blog, I read this past entry and its comments. <br/><br/>I followed the link to ABSNet by graphrix and was curious as to what your thoughts were on the more recent (8/7/07) ABS Market Headline regarding the SEC ease of rules for modifications, etc., and how that might impact the market (forecloses, specifically). Dr. Bubble,

As I’m getting caught up on your blog, I read this past entry and its comments.

I followed the link to ABSNet by graphrix and was curious as to what your thoughts were on the more recent (8/7/07) ABS Market Headline regarding the SEC ease of rules for modifications, etc., and how that might impact the market (forecloses, specifically).

]]> By: Chris http://www.doctorhousingbubble.com/manias-panics-and-crashes-2007-first-quarter-all-stars-%e2%80%93-foreclosures-subprime-and-politics-five-characteristics-of-a-housing-bubble/#comment-525 Chris Thu, 05 Apr 2007 20:24:00 +0000 http://www.doctorhousingbubble.com/manias-panics-and-crashes-2007-first-quarter-all-stars-%e2%80%93-foreclosures-subprime-and-politics-five-characteristics-of-a-housing-bubble/#comment-525 If you bought it not as an investment, but as a home to live in, then I'd say stay put. You've built up a nice equity cushion, and presumably that's one protection you have that many others don't.<br/><br/>I didn't hear you complaining about the run-up in prices while it was happening, so there's no reason that you shouldn't expect a bumpy ride at times, too.<br/><br/>The ones who are going to be in trouble are those who:<br/><br/>1) bought recently, and will soon owe more than their houses are worth, OR<br/><br/>2) those who've paid off the mortgage, and may have even owned the house free and clear, but then re-fi'ed etc to get themselves back on the hook.... Bad juju there... If you bought it not as an investment, but as a home to live in, then I’d say stay put. You’ve built up a nice equity cushion, and presumably that’s one protection you have that many others don’t.

I didn’t hear you complaining about the run-up in prices while it was happening, so there’s no reason that you shouldn’t expect a bumpy ride at times, too.

The ones who are going to be in trouble are those who:

1) bought recently, and will soon owe more than their houses are worth, OR

2) those who’ve paid off the mortgage, and may have even owned the house free and clear, but then re-fi’ed etc to get themselves back on the hook…. Bad juju there…

]]> By: Dr Housing Bubble http://www.doctorhousingbubble.com/manias-panics-and-crashes-2007-first-quarter-all-stars-%e2%80%93-foreclosures-subprime-and-politics-five-characteristics-of-a-housing-bubble/#comment-523 Dr Housing Bubble Thu, 05 Apr 2007 16:13:00 +0000 http://www.doctorhousingbubble.com/manias-panics-and-crashes-2007-first-quarter-all-stars-%e2%80%93-foreclosures-subprime-and-politics-five-characteristics-of-a-housing-bubble/#comment-523 anon,<br/><br/>That was a great video. Nice touch at the end. Notice the amazing climb at the end?<br/><br/>anon 3:47,<br/><br/>You have an interesting dilemma. You bought the place for 83k and would get 280k. Let us run the numbers then. If you sell, minus the 6% fee, you should net $180,200. As you mention, you are already paying $900 a month in HOA and taxes and to rent the place you would expect to pay $1,200 a month. <br/><br/>If you put the $180,200 in a 5% savings account, you would get a monthly payment of $750. So you can break it down right now as:<br/><br/>Current situation: $1,200 a month in rent - $900 in current fees. Different of $300 but you'll be getting $750 a month (minus taxes of course) from your savings. So technically you'd be up $450 a month. <br/><br/>Keep in mind that you currently have the piece of mind of owning your place and if it is prime location, it may handle the downturn better if it is in a low demand area. Being by the river I imagine the demand is high even if it is a condo. I'm not sure what other factors are in your life but owning your place free and clear is nice (although your HOA and taxes seem high for an $83,000 place). anon,

That was a great video. Nice touch at the end. Notice the amazing climb at the end?

anon 3:47,

You have an interesting dilemma. You bought the place for 83k and would get 280k. Let us run the numbers then. If you sell, minus the 6% fee, you should net $180,200. As you mention, you are already paying $900 a month in HOA and taxes and to rent the place you would expect to pay $1,200 a month.

If you put the $180,200 in a 5% savings account, you would get a monthly payment of $750. So you can break it down right now as:

Current situation: $1,200 a month in rent - $900 in current fees. Different of $300 but you’ll be getting $750 a month (minus taxes of course) from your savings. So technically you’d be up $450 a month.

Keep in mind that you currently have the piece of mind of owning your place and if it is prime location, it may handle the downturn better if it is in a low demand area. Being by the river I imagine the demand is high even if it is a condo. I’m not sure what other factors are in your life but owning your place free and clear is nice (although your HOA and taxes seem high for an $83,000 place).

]]> By: Anonymous http://www.doctorhousingbubble.com/manias-panics-and-crashes-2007-first-quarter-all-stars-%e2%80%93-foreclosures-subprime-and-politics-five-characteristics-of-a-housing-bubble/#comment-522 Anonymous Thu, 05 Apr 2007 02:43:00 +0000 http://www.doctorhousingbubble.com/manias-panics-and-crashes-2007-first-quarter-all-stars-%e2%80%93-foreclosures-subprime-and-politics-five-characteristics-of-a-housing-bubble/#comment-522 A few miles west of Boston the situation is denial, denial, denial. House sales volume has shriveled even in wealthy zip codes, asking prices are flat or even up slightly and sellers believe warmer weather will fix things. Meanwhile the state is losing jobs and productive citizens because of corrupt and incompetent government at all levels making daily life more difficult and expensive. People who can are voting with their feet which exacerbates all the financial problems. The government's solution ? Increase taxes to make up for the decline in taxes they will take in now and in the future. Good luck to those crooks, last one out of Massachusetts shut off the lights. A few miles west of Boston the situation is denial, denial, denial. House sales volume has shriveled even in wealthy zip codes, asking prices are flat or even up slightly and sellers believe warmer weather will fix things. Meanwhile the state is losing jobs and productive citizens because of corrupt and incompetent government at all levels making daily life more difficult and expensive. People who can are voting with their feet which exacerbates all the financial problems. The government’s solution ? Increase taxes to make up for the decline in taxes they will take in now and in the future. Good luck to those crooks, last one out of Massachusetts shut off the lights.

]]>