350zCommtech's Account Talk

[Prozium]

Anyone losing a job (and there are many) may not be able to make payment, and even people who CAN make the payment may have to relocate and if they are underwater, that sucks bigtime.

One foreclosed house on a street is like a bomb. There are 8838 houses going into foreclosure per day.

That is 8838 houses per day that are no longer making mortgage payments or paying property taxes.

That is 8838 houses per day that are dragging the value of the houses are them down.

Trying selling your house when the house next to yours foreclosed on.

This 2003 "boom" was due to housing. The housing bubble credit contraction is going to suck this economy down the drain with it. With it stock prices, car prices, boat prices. Anyone holding a pile of cash at the end of this cycle is going to be able to buy 3 of everything that is priced at today's prices.

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[350zCommTech]

YEN intervention came back with a vengeance. Looks like they might try to kiss the bottom of that triangle today. A break back in would be bullish. A failure is mega bearish.

This is seriously dangerous. If you have brass balls, the I fund is the best play for tomorrow. The dollar is up big today.

I'll just through this minor pain in the F fund. Down 1 cent at the moment.

 

[Prozium]

At 40:1 leverage, these banks utimately were sold $100,000 1 room condos for $4,000,000

That is it. The banks took those $4M generated by the underlining $100K and leveraged again it up again 40:1 by writing derivative contracts on the $3.9M "profit" from the last contracts they wrote that were rated Triple A by our fearless rating agencies. Rinse and repeat this a couple dozen times and you got.........

Banks with record earnings that pushed up the stock indexes from 2003 to 2006 until everyone was housed up and there was no suckers left to buy from the last group of suckers.

 

[fedgolfer]

350,

Did you see the effect of today's candlestick on the PSAR?
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&b=5&g=0&id=p95399028580

scary pattern the last six months, only once did it buck it for a possible swing trade (last week of Oct), but that was following a double bottom at that time and oversold stochastics, neither of which we have reached in this latest downtrend.

 

[Birchtree]

I just happened to get a call yesterday from ERA Trend Realty realtor wanting to know if I would be interested in selling my vacant 5.23 acre lot. This acreage is located in an area away from students and any heavy traffic. The realtor said she would do more research and be back in touch. But I'm in no hurry to sell unless the right price is offered. A 5 acre lot is a rarity close in because of the local comprehensive plan to contain suburban growth - just another stupid liberal strategy. It will be interesting to see what kind of appreciation is left or has the lot been depreciated. Sometimes location does make the difference.

 

[Prozium]

Birch I'm telling you the residential and commercial real estate market is set for the next huge wave down,

The Alt A loan market is 60% bigger then subprime. They start resetting at the end of this year and the bulk 2010 and 2011.

 

[350zCommTech]

350,

Did you see the effect of today's candlestick on the PSAR?
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&b=5&g=0&id=p95399028580

scary pattern the last six months, only once did it buck it for a possible swing trade (last week of Oct), but that was following a double bottom at that time and oversold stochastics, neither of which we have reached in this latest downtrend.

No, I didn't.

Back in Oct., the Fed still had some bullets.

 

[Prozium]

No, I didn't.

Back in Oct., the Fed still had some bullets.

Looks the specialist are moving it up over lunch in front of the 30 year auction at 1pm. Going to be some unhappy "dippers" at the close.

 

[350zCommTech]

I just happened to get a call yesterday from ERA Trend Realty realtor wanting to know if I would be interested in selling my vacant 5.23 acre lot. This acreage is located in an area away from students and any heavy traffic. The realtor said she would do more research and be back in touch. But I'm in no hurry to sell unless the right price is offered. A 5 acre lot is a rarity close in because of the local comprehensive plan to contain suburban growth - just another stupid liberal strategy. It will be interesting to see what kind of appreciation is left or has the lot been depreciated. Sometimes location does make the difference.

Could you tell please tell them that I have beautiful, rarely used bridge in Alaska that I'm looking to sell.:laugh:

 

[Prozium]

I just happened to get a call yesterday from ERA Trend Realty realtor.

Funny I talked to a real estate agent yesterday myself. He said why is the government trying to push these refi programs? You can't refi your home loan when you are underwater unless you can write a check to make up difference. He said even if they add the amount they are underwater to the new mortgage - they couldn't afford the mortgage even if the interest rate was 0%.

 

[Prozium]

Could you tell please tell them that I have beautiful, rarely used bridge in Alaska that I'm looking to sell.:laugh:

Florida is bubble center. They probably want to use it to build a monument to bubbles.

At least it will keep the homeless warm on winter nights and the tourist can roast marshmallows during the day.

 

[mojo]

I just happened to get a call yesterday from ERA Trend Realty realtor wanting to know if I would be interested in selling my vacant 5.23 acre lot. This acreage is located in an area away from students and any heavy traffic. The realtor said she would do more research and be back in touch. But I'm in no hurry to sell unless the right price is offered. A 5 acre lot is a rarity close in because of the local comprehensive plan to contain suburban growth - just another stupid liberal strategy. It will be interesting to see what kind of appreciation is left or has the lot been depreciated. Sometimes location does make the difference.

http://en.wikipedia.org/wiki/Denial
ARMs are reseting right now through 2011+. Many are paying interest only or even neg amortization. Their houses are worth 50% of what they owe. Anyone who was responsible and actually put money down,great credit,owner occupied, low 30 year rate etc. is getting caught too (me). And Im not going to continue paying for all the negligence. The ship is going down, the train is coming, the hammer is dropping etc..

This isn't even considering commercial.

Fannie & Freddie along with some others put a hold on all forclosures so the forclosure rate goes down a little on cooked books.What a joke.

 

[Birchtree]

I'm waiting for the small business owner from Michigan who has sold his business and is looking to relocate to enjoy a warm retirement. We have great health care and educational opportunities as well as cultural events. ERA may already have a customer they are working for. I didn't buy the property years ago as an investment but that is the way it worked out. The 5 acres are on a paved road that can be platted out to smaller parcels.

 

[mojo]

Florida is bubble center. They probably want to use it to build a monument to bubbles.

At least it will keep the homeless warm on winter nights and the tourist can roast marshmallows during the day.

TFF

 

[Birchtree]

I can always start a u-pick blueberry farm on the land. My brother-in-law from New Hampshire wants to park his RV on the land during the winter months. At any rate, if I decide to never sell it will pass to my daughter and the trees will just keep growing to provide shade.

 

[350zCommTech]

I'm waiting for the small business owner from Michigan who has sold his business and is looking to relocate to enjoy a warm retirement. We have great health care and educational opportunities as well as cultural events. ERA may already have a customer they are working for. I didn't buy the property years ago as an investment but that is the way it worked out. The 5 acres are on a paved road that can be platted out to smaller parcels.

I can always start a u-pick blueberry farm on the land. My brother-in-law from New Hampshire wants to park his RV on the land during the winter months. At any rate, if I decide to never sell it will pass to my daughter and the trees will just keep growing to provide shade.

I have an idea for your 5 acres. You should build a bunch of condos on that land. I know Florida has a lot of condos already but, I just read that retail sales were up and foreclosures were down in January. I think Obama is about to come out and announce that the housing market has bottomed and home prices will start to rise. While it might still be early, you should start now and be in for rise up.

 

[Prozium]

Prices of existing U.S. single-family homes dropped a record 12.4 percent in the fourth quarter from a year earlier to the lowest level since 2003, the National Association of Realtors said on Thursday.
http://www.reuters.com/article/busi...12?feedType=RSS&feedName=businessNews&sp=true

(12.4% decrease) x 126M = a slight speed bump on the road to prosperity.

Scary thing is we are back to 2003 (when the bubble starting inflating) and we are just getting started in deflating it. :blink:

 

[Prozium]

I have an idea for your 5 acres.

I smell an opportunity for high end timeshares.

 

[Prozium]

Looks the specialist are moving it up over lunch in front of the 30 year auction at 1pm. Going to be some unhappy "dippers" at the close.

30 year auction was a ripper. Only 2 bid to cover.

 

[350zCommTech]

I smell an opportunity for high end timeshares.

How about government housing for laid off Wall St. investment bankers?

Naa.......We should just hang them.....