Comments on: Thanks to the Housing Bubble, I Made $500,000 with a High School Diploma: The Stockholm Syndrome and Defending the Perpetrators. http://www.doctorhousingbubble.com/thanks-to-the-housing-bubble-i-made-500000-with-a-high-school-diploma-the-stockholm-syndrome-and-defending-the-perpetrators/ How I Learned to Love Southern California and Forget the Housing Bubble Fri, 09 Jan 2009 13:26:47 +0000 http://wordpress.org/?v=2.2.2 By: Vincent http://www.doctorhousingbubble.com/thanks-to-the-housing-bubble-i-made-500000-with-a-high-school-diploma-the-stockholm-syndrome-and-defending-the-perpetrators/#comment-11234 Vincent Thu, 17 Apr 2008 01:22:11 +0000 http://www.doctorhousingbubble.com/thanks-to-the-housing-bubble-i-made-500000-with-a-high-school-diploma-the-stockholm-syndrome-and-defending-the-perpetrators/#comment-11234 another sweet ass post. i love your writing style and of course, the analytical thinking. you should get a book deal for real. anyway, i am looking to get into the investment prop game, 3-4 unit property, but i've been feeling the market for about a year now and i agree with most everything you say, especially agree with that chart you keep showing that is pretty much "slam dunk"!!! my greatest fear now is that rents will also decrease with job loss and etc. is that the trend? another sweet ass post. i love your writing style and of course, the analytical thinking. you should get a book deal for real. anyway, i am looking to get into the investment prop game, 3-4 unit property, but i’ve been feeling the market for about a year now and i agree with most everything you say, especially agree with that chart you keep showing that is pretty much “slam dunk”!!! my greatest fear now is that rents will also decrease with job loss and etc. is that the trend?

]]> By: Greg from Canada http://www.doctorhousingbubble.com/thanks-to-the-housing-bubble-i-made-500000-with-a-high-school-diploma-the-stockholm-syndrome-and-defending-the-perpetrators/#comment-10984 Greg from Canada Sun, 13 Apr 2008 17:25:29 +0000 http://www.doctorhousingbubble.com/thanks-to-the-housing-bubble-i-made-500000-with-a-high-school-diploma-the-stockholm-syndrome-and-defending-the-perpetrators/#comment-10984 If you want to continue the party come to Kelowna Canada, its still going here. People are nuts, buying everything they can without money down. There is no one here that believes it can end, they think it was different in the USA. We do not have ARM mortgages but do have CMHC to 0% down and lots of mortgage brokers who will show you how to lie about your income and deposit if required. The real hit is going to come as our houses are right on the top. Inflation is going out of Control, Gas is $5.20/US gallon, Beer is $6.00/pint, Electricity is up 30% this year alone. The problem is we have no real jobs, all young people work in Real Estate, Construction or Resturants. This is a retirement community on a large lake with Vineyards all around. People with no debt like me live here and fly to work in Calgary Monday to Friday. Like California when the houses stop going up people will not be able to re-finance to keep there style of living and will start to sell property which will start the down turn. It has started in Calgary and will continue across Canada. The trend right now is oil boys like me in Calgary are selling our places in Kelowna or Vancouver Island and buying property in the US. I can sell my lake front home in Kelowna and buy a house on the ocean in California, a house in Palm Springs and one more in Arizone in Cash. I believe that the housing pain you are going through is almost over and then you can read about in going on in Canada in 2009. If you want to continue the party come to Kelowna Canada, its still going here. People are nuts, buying everything they can without money down. There is no one here that believes it can end, they think it was different in the USA. We do not have ARM mortgages but do have CMHC to 0% down and lots of mortgage brokers who will show you how to lie about your income and deposit if required. The real hit is going to come as our houses are right on the top. Inflation is going out of Control, Gas is $5.20/US gallon, Beer is $6.00/pint, Electricity is up 30% this year alone. The problem is we have no real jobs, all young people work in Real Estate, Construction or Resturants. This is a retirement community on a large lake with Vineyards all around. People with no debt like me live here and fly to work in Calgary Monday to Friday. Like California when the houses stop going up people will not be able to re-finance to keep there style of living and will start to sell property which will start the down turn. It has started in Calgary and will continue across Canada. The trend right now is oil boys like me in Calgary are selling our places in Kelowna or Vancouver Island and buying property in the US. I can sell my lake front home in Kelowna and buy a house on the ocean in California, a house in Palm Springs and one more in Arizone in Cash. I believe that the housing pain you are going through is almost over and then you can read about in going on in Canada in 2009.

]]> By: Scott http://www.doctorhousingbubble.com/thanks-to-the-housing-bubble-i-made-500000-with-a-high-school-diploma-the-stockholm-syndrome-and-defending-the-perpetrators/#comment-10899 Scott Sat, 12 Apr 2008 19:43:15 +0000 http://www.doctorhousingbubble.com/thanks-to-the-housing-bubble-i-made-500000-with-a-high-school-diploma-the-stockholm-syndrome-and-defending-the-perpetrators/#comment-10899 I'm agree with some of the above comments. It is hard to be very sympathetic or even consider people victims when they haven't really lost much ( of their own) money and went to places for their loans that any normal person would run from. A few days ago I was driving to work down one of those declining commercial streets that feature mattress and rent to own furniture stores, used car dealerships, ethnic restaurants you wonder who would ever dare dine in and pay day loan shops. Fire engines were parked outside the smoldering remains of what had been a garishly painted building that housed a company that offered no questions asked small loans in exchange for the title on your automobile. News reports said the fire was suspicious in origin. I don't doubt it. Someone who went in to get a $500 loan to pay their utility bill and found themselves owing $2000 6 months later and then, unable to pay, going out to see their car hooked to the back of a tow truck might just be angry enough to do something criminal. What has this to do with the housing crisis well if I need a loan I don't go to some store front operation with a name like Quick Credit or EZ Mortgage or even a virtual loan company with amusing TV ads. I go to my bank or a car company's own lending operation. If they refuse to give me the loan I requested I might be disappointed and even embarrassed but that has never happened not because I am a rich man but because I know how much money I make and what I can afford. I may not be Milton Friedman or Henry Paulson but I know enough to use a loan calculator and plug in amount of loan, duration, normal interest rate to get monthly payment. Thus armed I can insist the lending officer explain why we are going beyond the parameters of normal finance to get my loan. I don't need an Option Arm or teaser rate nor I am going to storm out and go visit EZ credit if I am turned down. If Wells Fargo or Toyota Motor Credit won't lend me the money I'm going to figure they aren't denying me the loan because they don't like my skin color or my haircut but because they don't think I'm good for it and the problem is my ability to pay or my history as a deadbeat. So the question I have in all this is the same I have when I see these pay day/car title loan shops I mentioned above. What are you doing in there? If you can't work out a payment plan with Wells Fargo, PG&E or Ford Motor Company then you are essentially bankrupt. There is no point in trying to fix your problem with anyone else. If the primary lenders won't touch you then give it up. You can't afford to buy the house the car or whatever else it is you need money for. I’m agree with some of the above comments. It is hard to be very sympathetic or even consider people victims when they haven’t really lost much ( of their own) money and went to places for their loans that any normal person would run from. A few days ago I was driving to work down one of those declining commercial streets that feature mattress and rent to own furniture stores, used car dealerships, ethnic restaurants you wonder who would ever dare dine in and pay day loan shops. Fire engines were parked outside the smoldering remains of what had been a garishly painted building that housed a company that offered no questions asked small loans in exchange for the title on your automobile. News reports said the fire was suspicious in origin. I don’t doubt it. Someone who went in to get a $500 loan to pay their utility bill and found themselves owing $2000 6 months later and then, unable to pay, going out to see their car hooked to the back of a tow truck might just be angry enough to do something criminal. What has this to do with the housing crisis well if I need a loan I don’t go to some store front operation with a name like Quick Credit or EZ Mortgage or even a virtual loan company with amusing TV ads. I go to my bank or a car company’s
own lending operation. If they refuse to give me the loan I requested I might be disappointed and even embarrassed but that has never happened not because I am a rich man but because I know how much money I make and what I can afford. I may not be Milton Friedman or Henry Paulson but I know enough to use a loan calculator and plug in amount of loan, duration, normal interest rate to get monthly payment. Thus armed I can insist the lending officer explain why we are going beyond the parameters of normal finance to get my loan. I don’t need an Option Arm or teaser rate nor I am going to storm out and go visit EZ credit if I am turned down. If Wells Fargo or Toyota Motor Credit won’t lend me the money I’m going to figure they aren’t denying me the loan because they don’t like my skin color or my haircut but because they don’t think I’m good for it and the problem is my ability to pay or my history as a deadbeat. So the question I have in all this is the same I have when I see these pay day/car title loan shops I mentioned above. What are you doing in there? If you can’t work out a payment plan with Wells Fargo, PG&E or Ford Motor Company then you are essentially bankrupt. There is no point in trying to fix your problem with anyone else. If the primary lenders won’t touch you then give it up. You can’t afford to buy the house
the car or whatever else it is you need money for.

]]> By: Dan http://www.doctorhousingbubble.com/thanks-to-the-housing-bubble-i-made-500000-with-a-high-school-diploma-the-stockholm-syndrome-and-defending-the-perpetrators/#comment-10892 Dan Sat, 12 Apr 2008 19:01:13 +0000 http://www.doctorhousingbubble.com/thanks-to-the-housing-bubble-i-made-500000-with-a-high-school-diploma-the-stockholm-syndrome-and-defending-the-perpetrators/#comment-10892 This is what I have sent to Jane Harman. Will it work? I doubt and after all the problem is going to be mine since I have to cut the hand that is going to vote republican. Somebody 3 party system? --------------------------------------------------------------- Dear Jane Harman, I want to inform you how disappointed I feel about the talk on the democtaratic side of the politics about "bailout" for "troubled homeowners" and lending institutions. All such effort will result only in longer support for inflated home prices and eroding the affordability of homeownership. I can assure you that there is significant crowd of your voters, responsible and thoughtful not to jump on the gipsy wagon of the real estate propaganda, which have been waiting patiently for this bubble to burst so they can fulfill their part of the American dream. Personally for me this by far is the issue of biggest concern. I don't approve any support of my political representatives for "bailout" and I will not think long about switching party support if the disappointment on democrat’s side is going stronger. Sincerely yours Daniel Dimitrov ------------------------------------------------------------ This is what I have sent to Jane Harman. Will it work? I doubt and after all the problem is going to be mine since I have to cut the hand that is going to vote republican. Somebody 3 party system?

—————————————————————
Dear Jane Harman,

I want to inform you how disappointed I feel about the talk on the democtaratic side of the politics about “bailout” for “troubled homeowners” and lending institutions. All such effort will result only in longer support for inflated home prices and eroding the affordability of homeownership. I can assure you that there is significant crowd of your voters, responsible and thoughtful not to jump on the gipsy wagon of the real estate propaganda, which have been waiting patiently for this bubble to burst so they can fulfill their part of the American dream. Personally for me this by far is the issue of biggest concern. I don’t approve any support of my political representatives for “bailout” and I will not think long about switching party support if the disappointment on democrat’s side is going stronger.

Sincerely yours
Daniel Dimitrov
————————————————————

]]> By: tomthumb http://www.doctorhousingbubble.com/thanks-to-the-housing-bubble-i-made-500000-with-a-high-school-diploma-the-stockholm-syndrome-and-defending-the-perpetrators/#comment-10885 tomthumb Sat, 12 Apr 2008 18:21:30 +0000 http://www.doctorhousingbubble.com/thanks-to-the-housing-bubble-i-made-500000-with-a-high-school-diploma-the-stockholm-syndrome-and-defending-the-perpetrators/#comment-10885 Great blog. But what its teaching me is crime pays. Arent their any stories of people who actually don't make out in this crisis? Great blog. But what its teaching me is crime pays. Arent their any stories of people who actually don’t make out in this crisis?

]]>