There’s no Santa or Tooth Fairy, and no quick fix for economy
Wow.
That explains a lot, economically as well as politically.
The chart above, from Calculated Risk, breaks out housing equity by state. In Nevada, for example, almost 70 percent of homeowners owe more on their mortgages than their homes are worth. How many of those folks are going to be in the mood to spend money, generating the demand needed to restart the economy? Compounding the problem, Nevada also happens to have the country’s worst unemployment rate, at 14.3 percent in July. A lot of those jobless Nevadans couldn’t relocate for a job even if they found one, not without taking a huge financial hit on their home. That’s a lot of pain and sleepless nights, and cause for a lot of anger as well.
Georgia is sixth, right after California, with almost 30 percent of homeowners under water and another good chunk barely staying afloat. (Ga. unemployment rate: 9.9 percent). An economy that for years was fueled by homeowners who used their houses as ATMs has become an economy in which housing has become a huge anchor, in more ways than one. Millions of homeowners face the difficult choice of continuing to dump money into a house that they know is a bad investment or just walking away.
That also puts into perspective the latest “regional snapshot” from the Atlanta Regional Commission. “Since the recession began more than two years ago, the 10-county region has added approximately 56,000 people, which is the slowest growth period in the region since the 1950s,” ARC reports. “The Atlanta region’s slowdown is directly attributable to the national economy. During weak economic periods, people don’t move as much for several reasons. Job opportunities are slim, meaning people don’t move to take new jobs. And, with the housing market in such disarray, it is hard to sell a house, which tends to keep people stationary.”
There ain’t no Santa Claus, there ain’t no Easter Bunny, and there ain’t no easy, quick solution to problems like this one.
UPDATE: In an analysis of Michael Lewis’ best-seller “The Big Short,” economic analyst Paul Willen of the Federal Reserve traces the collapse of the Wall Street bond market to the same basic problem: housing prices.
“Subprime bulls bought the bonds because careful research based on vast amounts of loan-level data using state-of-the-art models … showed that if house prices continued to behave as they had for the previous ten years, the bonds would perform well. The research also showed that if house prices collapsed, investors would lose big, but, after ten years of solid appreciation in house prices, researchers viewed a big fall as unlikely.”
Willen and his co-authors also cite an August 2005 analysis of the housing bond market by researchers at Lehman Brothers. The researchers estimated only a 5 percent chance of a “meltdown scenario,” which they defined as a market in which housing prices fell by 5 percent a year. The actual meltdown — only months away at the time — saw housing prices fall by 10 percent a year, twice as bad as the worst-case scenario. It also saw Lehman Brothers disappear altogether.
Here’s another chart, documenting the housing boom and subsequent collapse, by Steve Barry via Barry Ritholz and The Big Picture. Ominously, it suggests that housing values are STILL well above historic levels of the past century, after adjusting for inflation.
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797 comments Add your comment
Bosch
August 27th, 2010
9:54 am
Peadawg,
Can you BE more whiny or hypocritical? Were you all a swoon when our soldiers were dying in Iraq and Bush was on vacation? Don’t you think he should have been camped out in the Situation Room?
Doggone/GA
August 27th, 2010
9:54 am
“the President is going on vacations to other countries”
Florida and Maine are “other countries”? Who knew?! Has anyone told them yet?
USinUK
August 27th, 2010
9:54 am
“When people are struggling to pay their bills and the President is going on vacations to other countries, yes I’ll complain”
Martha’s Vineyard is another country?
hrm. you may want to check your atlas.
Normal
August 27th, 2010
9:54 am
USinUK
August 27th, 2010
9:48 am
T’ain’t nuttin wrong with it, so long as you don’t do it for nearly half your term like Georgie II did…
Bubba Bob
August 27th, 2010
9:55 am
USink,
The government has a lot to do with creditors because they have creditors too! We could lose our AAA credit rating because of our mismanagement. I want a government that LEADS. Show us how it’s done.
Talk is cheap.
The Leg Lamp is a "major award" much like Cynthia Tucker's Pulitzer and Obama's Nobel.
August 27th, 2010
9:55 am
SPIN METER: What Biden didn’t mention on stimulus
By GARANCE BURKE (AP) – 6 hours ago
FRESNO, Calif. — Vice President Joe Biden said this week that the Obama administration “hit the accelerator” toward spending $5 billion under the economic stimulus law to weatherize people’s homes, create thousands of jobs, help consumers save money and put the nation on track for energy independence.
Yet the weatherization program the vice president highlighted in his visit Thursday to New Hampshire is widely considered among the least organized spending projects under the $814 billion economic stimulus law and has regularly been targeted for criticism of its slow progress by auditors and outsiders. Biden didn’t hint much at its troubles.
USinUK
August 27th, 2010
9:55 am
Doggone – well, Maine IS awfully close to Canuckland … and Florida … well … you know …
Bosch
August 27th, 2010
9:55 am
Doggone,
And, I suggest we let them know that they’ll need to get their immigration papers ready.
stands for decibels
August 27th, 2010
9:56 am
the President is going on vacations to other countries
Countries? it was one (1) country, Spain, and oh yeah, it wasn’t the President but rather his wife.
see also:
http://www.guardian.co.uk/commentisfree/cifamerica/2010/aug/10/michelle-obama-spain-vacation
jt
August 27th, 2010
9:57 am
There ARE THREE quick fixes.
Nullification, Lock, and Load.
The federal government will NEVER yield to justice.
Only expediency. Let us expedite those crooks out of existence.
Peadawg
August 27th, 2010
9:57 am
I was talking more about the nice vacation to Spain. But you get my point. We don’t get to take vacations…why does he? But it doesn’t matter…he’ll be on a permanent vacation starting in 2013. Enjoy it while it last Bozo!
USinUK
August 27th, 2010
9:58 am
“The government has a lot to do with creditors because they have creditors too! We could lose our AAA credit rating because of our mismanagement.”
um. you do realize that S&P isn’t a creditor, don’t you?
and, as far as US bonds go, we’re the #1 reserve currency around the world – US bonds are where investors go when they’re doing a flight to quality – that’s not changing anytime soon …
(what? you think countries are going to change to the EURO with everything going on there?)
I'm Here From The Government And I'm Here To Help
August 27th, 2010
9:58 am
USinUK
August 27th, 2010
9:49 am
“Tell that to your creditors and see what they say! ”
so, it’s the government’s fault you carry debt???
whatever happened to personal responsibility???
I CAN’T read it and comprehend it for you to! Tell you’re creditors the same thing about spending more money to get out of the hole you are in. (i.e. Like Obama’s stimulus) Should a draw you a picture?
Lee
August 27th, 2010
9:59 am
Once upon a time, banks required a substantial down payment, usually around 20%. This forced people to save money and buy a modest house within their means. Then, the politically correct pathogens began pointing to the low home ownership rates of blacks and screamed racism. Banks were all too happy to ease the lending requirements because it meant more business for them. Developers were happy because they could sell more expensive housing. As long as the housing market increased, everything was good.
Predictably, that Ponzi scheme finally collapsed.
The good news is that I’ve been able to pick up a couple of investment properties really cheap.
Doggone/GA
August 27th, 2010
9:59 am
“I was talking more about the nice vacation to Spain”
Last time I looked it was BARACK Obama who was our President, not MICHELLE Obama. Michelle went to Spain with one of their daughters, not the President. And except for security, she paid for that vacation.
Bruno
August 27th, 2010
10:00 am
“Like what Paul?”
Cooool!! I love it when I stir the pot and Paul has to take the heat for it!!
Peadawg
August 27th, 2010
10:00 am
“and no quick fix for economy”
And back to the title. We’re not looking for a quick fix. We’re looking for some progress. But unemployment is worse/same and deficit is higher since Obama took office.
Paul
August 27th, 2010
10:00 am
Bosch
’s okay
Southern Comfort
August 27th, 2010
10:01 am
jm
I think the problem was more related to greed. Unscrupulus mortgage writers saw the suckers lining up at their doors and took full advantage of it. Many of the 1st time buyers didn’t take the time to research the whole process and got screwed.
Peadawg
August 27th, 2010
10:01 am
“And except for security, she paid for that vacation.”
I It must be nice! It’s pretty obvious they aren’t in touch with the average American.
I'm Here From The Government And I'm Here To Help
August 27th, 2010
10:01 am
Southern Comfort
August 27th, 2010
9:51 am
what it costs to live in Buckhead/Sandy Springs
That’s why I live on the south side. I still think prices are bloated up there. Then again, what I paid for my house here would get me at least 3 homes back in my hometown.
As a native, the houses on the South-side have always been well below the houses on the North-side. They always will be! Ever wonder why?
Paul
August 27th, 2010
10:01 am
Bruno
Karma’s a b….
Kevin
August 27th, 2010
10:02 am
Hey Normal- working with a great chap that owns two Harely dealerships- what are you looking for?
Normal
August 27th, 2010
10:02 am
jt talk scarey. me frightened of bad talk.
Bosch
August 27th, 2010
10:02 am
“We don’t get to take vacations…why does he?”
Speak for yourself dude. I’m still tanned from my beach trip.
~~~~~~~~~~
“So is going to the Texas Whitehouse the same as six vacations in some of the most expensive locations in the world?”
Yes.
USinUK
August 27th, 2010
10:02 am
“We don’t get to take vacations…why does he? ”
you don’t? your job doesn’t allow it?
or is it your finances?
so, health care isnt’ a right but a vacation is???
help me keep track.
@@
August 27th, 2010
10:03 am
I don’t know about all this overpriced housing talk. Clayton County is inundated with affordable housing and our foreclosure rate is WAAYYYYYYYY up there.
An incompetent school board….a sheriff that never served a warrant during his tenure….a D.A. that allowed the court calendar to pile up ’cause she’d never tried a criminal case during her entire legal career….developers/homebuilders sitting on our Board of Commissioners.
SHEESH! It was a disaster waiting to happen. They’re gone, I’m not.
AmVet
August 27th, 2010
10:03 am
83 percent of all U.S. stocks are in the hands of 1 percent of the people.
66 percent of the income growth between 2001 and 2007 went to the top 1% of all Americans.
24 percent of American workers say that they have postponed their planned retirement age in the past year.
Over 1.4 million Americans filed for personal bankruptcy in 2009, which represented a 32 percent increase over 2008.
For the first time in U.S. history, banks own a greater share of residential housing net worth in the United States than all individual Americans put together.
As of 2007, the bottom 80 percent of American households held about 7% of the liquid financial assets.
And yet there are still some that contend that the War on the Middle Class never existed, though it rages on.
(This is what W meant when he referred to himself as the “War President”)
USinUK
August 27th, 2010
10:03 am
“It must be nice! It’s pretty obvious they aren’t in touch with the average American.”
wow. so, all those americans I see here in London are … what? Canadians in disguise?
jm
August 27th, 2010
10:06 am
Southern Comfort – but the first time home buyers’ ignorance was aided and abetted by the federal government. Without 0% downpayment loans financed by the federal government, these people would have to save to buy the home, and thereby prove they can manage their finances first as well as provide a cushion protecting the lender from loss.
Yes, home buyers were taken advantage of, but only because the federal government was involved up to its neck in facilitating this to happen. In the long term, a free market in mortgages is the best solution, because these loans would never have been made. But it doesn’t appear the Feds are going to permit a free market, so GA needs to do what it can to protect itself from stupid federal policies.
Kevin
August 27th, 2010
10:06 am
AmVet- please see education and technology. Also look at income disparities in second and third worlds before given your cute little stats that actually work against you.
Peadawg
August 27th, 2010
10:06 am
“so, health care isnt’ a right but a vacation is???”
Huh? LOL. Where’d you pull that one from?
USinUK
August 27th, 2010
10:06 am
“So what is going on with the Euro? Not stable? Not sound? Why is that?”
why? because you have 1 central bank setting policy for 16 different countries with 16 different economies. Not all of them are strong / stable (yes, I’m looking at you Greece and Portugal), while others are extremely strong (Germany and France, to a lesser degree).
short answer, that’s why.
Doggone/GA
August 27th, 2010
10:06 am
“It’s pretty obvious they aren’t in touch with the average American.”
I don’t see that. What’s so “out of touch” about taking a vacation you can afford to take? Just because I can’t, at the moment, afford to take a vacation away from home…why should I begrudge her her vacation? It’s no skin off MY nose if she takes a vacation she pays for. Good for her to be able to do it.
I'm Here From The Government And I'm Here To Help
August 27th, 2010
10:06 am
Back in a few, have to go play with the 1% who own all the stocks!
jt
August 27th, 2010
10:07 am
Normal
Sorry guy. These are the times that try men’s souls.
No place for milqi-toast americans. Make sure you buckle-up. Its the LAW!!!!!!!!!!!
Peadawg
August 27th, 2010
10:07 am
“you don’t? your job doesn’t allow it?
or is it your finances?”
My job allows it. But what’s the fun of a staycation?
USinUK
August 27th, 2010
10:07 am
“Where’d you pull that one from?”
you. you seemed to think that the Obamas are doing something that the rest of America can’t do.
Normal
August 27th, 2010
10:07 am
Kevin
August 27th, 2010
10:02 am
Keven,
I’m looking for a 650cc to 900cc cruiser for me and my petite wife for weekend cruising, but a Harley, can’t see it. Wouldn’t be prudent. Costs too much. I’ll have to settle for a rice burner…but thanks!
AmVet
August 27th, 2010
10:07 am
Sure there is. And we will see it happen on Nov. 4th.
Hang onto that hope. Obviously you never listened to Kenny Rogers advice about counting your money while you’re sitting at the table.
And even if the GOP does well, lets put it all in perspective shall we?
Should, over the next two elections, they win approximately 93% of all contested races for the US Congress, state governorships and the White House, they will only be where they were in 2004.
And let’s face it, that ain’t gonna happen.
Bruno
August 27th, 2010
10:08 am
“g’morning folkses! sorry I’m late … what’s the poop?”
USinUK–Actually, you missed my song choice for you this AM:
http://blogs.ajc.com/jay-bookman-blog/2010/08/26/glenn-beck-the-gold-standard-of-megalomania/comment-page-5/#comment-383063
Well, I guess Bernanke’s speech is over. The market just tanked.
Southern Comfort
August 27th, 2010
10:08 am
I’m here
When you say well below, what do you mean by well below?
Lee
When I hear people refer to the cause of the housing problem all due to blacks, this is the image I get of the poster.
Peadawg
August 27th, 2010
10:09 am
“you seemed to think that the Obamas are doing something that the rest of America can’t do.”
Ya, um, they are. Did I ever say a vacation is a right? No. It’s a luxury that most people can’t afford. Like I said..must be nice Mr. President.
Kevin
August 27th, 2010
10:09 am
Normal- got it, good luck and happy and safe riding!
Doggone/GA
August 27th, 2010
10:09 am
“But what’s the fun of a staycation?”
You sell your state too short. I’ve been having a lot of fun with “staycations” this summer. My summer project this year is “chasing” waterfalls in North GA. Been to about 30 or 35 so far.
USinUK
August 27th, 2010
10:10 am
Bruno – I la-la-LOVE arctic monkeys!!! which song was it?
did you see this??
http://www.youtube.com/watch?v=Jo_dV7E4aIQ
AmVet
August 27th, 2010
10:10 am
Also look at income disparities in second and third worlds before given your cute little stats that actually work against you.
Kevin, here’s a much better idea. Manup and provide them yourself. Then produce a cogent analysis to countermand the facts I posted.
I’ll wait til the cows come home…
Bosch
August 27th, 2010
10:10 am
So, Peadawg, let me get this straght — you are having trouble paying your mortgage and you can’t afford a vacation, and somehow that is Obama’s fault? Or because his wife and daughter take one, that somehow makes him out of touch with people? Sound to me like someone who espouses personal responsibility is having problems facing up to it.
I'm Here From The Government And I'm Here To Help
August 27th, 2010
10:10 am
Doggone/GA
August 27th, 2010
10:06 am
“It’s pretty obvious they aren’t in touch with the average American.”
I don’t see that. What’s so “out of touch” about taking a vacation you can afford to take? Just because I can’t, at the moment, afford to take a vacation away from home…why should I begrudge her her vacation? It’s no skin off MY nose if she takes a vacation she pays for. Good for her to be able to do it.
The million plus that is cost the AMERICAN TAXPAYER to send Ms.Obama to Spain could have been used to save your people’s food stamps that the Democrats CUT!
USinUK
August 27th, 2010
10:11 am
“Ya, um, they are. Did I ever say a vacation is a right? No. It’s a luxury that most people can’t afford. Like I said..must be nice Mr. President.”
for that matter, it must be nice to be the Gateses. or the Buffets. or the Hiltons.
so what? so no one is allowed to go on vacation because everyone isn’t?
(oh, and by the way, do you also have the agida about Boehner’s golf habits, as well??)
jm
August 27th, 2010
10:12 am
@@ – you bring up another irony. Housing in metro (and urban) Atlanta is comparatively cheap. Extremely cheap in some circumstances. And the government idiots involved in the Beltline and other projects insist we don’t have enough affordable housing in this city. Free, market rate housing in this city is exceedingly cheap already.
It seems there’s not enough we can do to help those in need apparently. Not to sound cold hearted, the destitute need help and support, but listen to how this has played out in reality:
The US government seeking to expand home ownership among the poor guarantees basically any mortgage; lenders and mortgage brokers proceed to lend to anyone, poor, rich, competent, incompetent; housing collapses and taxpayers take it in the gut with an estimated $400 billion in losses on Fannie and Freddie; housing prices are collapsing become stupidly cheap; and somehow we need to keep subsidizing housing for the poor buy purchasing or building homes for them and renting them to them at subsidized rates through the AHA or the Beltline folks. Its positively absurd….
How much more do taxpayers need to provide, in particular to those that aren’t really in need?
I'm Here From The Government And I'm Here To Help
August 27th, 2010
10:12 am
Southern Comfort
August 27th, 2010
10:08 am
I’m here
When you say well below, what do you mean by well below?
Same house same builder, cost 25% to 50% more on the North-side!
USinUK
August 27th, 2010
10:13 am
“So you think that the immaculate Obamas have ANYTHING in common with the people that post here. I’m pretty sure Michelle would be hurling if she knew what you just wrote. There ain’t no commoners that have anything in common with the New American Royalty”
wow. between you people and your mix of Messiah complex and Royalty obsession, it’s a wonder you’re not on serious medication.
considering the way they were both raised, I think they would be able to relate to most of the people in this forum – far better, in fact, than those from the Bush family.
barking frog
August 27th, 2010
10:13 am
I’m here, want another dumb post? You are in worse
financial condition than the homeless guy on the
street corner except for INCOME….and educated
people know the difference between your and you’re..
Southern Comfort
August 27th, 2010
10:14 am
jm
Not all people did the government 0% program. I went conventional w/nothing down. I did it based on credit rating. I took a slightly higher rate from the bank and didn’t have to put anything down. I was also able to get that financing without having to pay PMI. I looked at the FHA programs and stuff, but I didn’t want any dealings with that. All they did was roll the downpayment into the home price and financed all that into the mortgage.
I’ll agree somewhat that that program may have been a problem, however I think more of the blame goes to the mortgage companies and the people signing the paperwork.
stands for decibels
August 27th, 2010
10:14 am
jt talk scarey. me frightened of bad talk.
me too! because me not know which end of bang-shoot thingies to point!
I'm Here From The Government And I'm Here To Help
August 27th, 2010
10:14 am
The Blog is on the housing market. Vacation’s are listed in the travel section.
USinUK
August 27th, 2010
10:15 am
Doggone – “My summer project this year is “chasing” waterfalls in North GA. Been to about 30 or 35 so far”
now, THAT’S cool!! Amacalola, babbee!!! with lunch at the Smith House!!
Normal
August 27th, 2010
10:15 am
jt
August 27th, 2010
10:07 am
No jt, these are the times in which people with no answers spout violence. Remember the old adage, “violence is the last refuge of the incompetent”. It’s to easy to say lock and load. It’s a lot harder to give sane and helpful solutions to the problem. It is especially inane to try to stop a President from doing anything to help. That brings up another adage about cutting off your nose to spite your face…
Come on, jt, you’re better than that.
USinUK
August 27th, 2010
10:15 am
“We don’t pay for their vacations with our taxes.”
other than the security (which you pay for, regardless of where they are), the Obamas pay for theirs
Southern Comfort
August 27th, 2010
10:16 am
I’m here
I noticed that when I was house hunting. Never knew the logic behind it, but it’s too crowded and too inflated for me to live north of I-20. I’m thinking about moving farther south if I can get out of the house I’m currently in.
AmVet
August 27th, 2010
10:16 am
OK, duty calls, Gotta go and be a good little capitalist and help provide more welfare for the wealthy.
See y’all later…
(And Kevin, I’ll be sure to check on what you’ve come up with…)
I'm Here From The Government And I'm Here To Help
August 27th, 2010
10:16 am
barking frog
August 27th, 2010
10:13 am
I’m here, want another dumb post? You are in worse
financial condition than the homeless guy on the
street corner except for INCOME….and educated
people know the difference between your and you’re..
I knew we needed another Gram mer policeman/women. Thanks, I’ll get my peeps on it!
Peadawg
August 27th, 2010
10:17 am
“so what? so no one is allowed to go on vacation because everyone isn’t?”
“Sound to me like someone who espouses personal responsibility is having problems facing up to it.”
From yesterday’s fun post …is like a Democrat talking to someone else about personal responsibility.
USinUK
August 27th, 2010
10:17 am
“I think it’s great that liberals now get to decide what everyone’s goals should be.”
dude. you seriously need to sit down and take a deep breath.
it might help when you accept all that “personal responsibility” your side likes to espouse. if you can afford to travel, travel. if you can’t, then don’t.
but hating on someone because they can – well, gosh, that sounds like something you’d criticize a liberal for.
Doggone/GA
August 27th, 2010
10:18 am
“The million plus that is cost the AMERICAN TAXPAYER ”
I’d like to see your source for that figure. A million? The most I could find was somewhere around $350,000 – mostly for security costs that we have to pay no matter where she is or goes.
I'm Here From The Government And I'm Here To Help
August 27th, 2010
10:18 am
USinUK
August 27th, 2010
10:15 am
“We don’t pay for their vacations with our taxes.”
other than the security (which you pay for, regardless of where they are), the Obamas pay for theirs
DON’T forget about the BIG BIRD! She didn’t swim! Or maybe her husband parted the seas!
joe
August 27th, 2010
10:18 am
The quickest fix is to elect GOP in Nov and then vote BO out in 2012. Businesses are raking in large profits but sitting on it and not hiring because they are not in sync with BO’s policies. If you vote GOP in Nov, that will be the first step in improving the economy as BO wouldn’t have a blank check to do anything he wants regarding his quazi-socialist stance on government.
Kevin
August 27th, 2010
10:19 am
Hey tough guy AmVet- why don’t you manup and meet me big guy. I hire 50 lower income folks or so a year- how about you?
@@
August 27th, 2010
10:19 am
Even if one had the money, spending it on a vacation would be foolish right now. The uncertainty looms large.
Now I know how businesses feel.
No venture capital for business. No adventure capital for households.
Bosch
August 27th, 2010
10:19 am
“From yesterday’s fun post …is like a Democrat talking to someone else about personal responsibility.”
Nice dodge there Peadawg, but it still sounds to me that you are bitter for your own circumstances and looking to blame someone other than yourself for your own problems.
Granny Godzilla
August 27th, 2010
10:20 am
Good Little Liberal
I bet you passed out when you heard:
“What I’m hearing, which is sort of scary, is they all want to stay in Texas. Everyone is so overwhelmed by the hospitality. And so many of the people in the arena here, you know, were underprivileged anyway, so this is working very well for them.”
Real American Royalty, don’t ya’ think?
jm
August 27th, 2010
10:20 am
Southern Comfort – when the government gives away money, corruption of the process follows and it becomes self – perpetuating because the greedy buyers and intermediaries lobby to prevent the process from ending, until it blows up because its unsustainable. It’s as simple as that.
If you’re a taxpayer, you’re subsidizing all those bad mortgages out there. While you may not have put anything down, the fact that you can pay a mortgage consistently also indicates you probably would have had the ability to save up for the down payment in a matter of 5 or 10 years, if you wanted. You are subsidizing all the non-payers out there. How does that feel. You’re responsible and subsidizing all those who were irresponsible or incompetent.
We are getting our due. Hopefully people learn and hopefully government wind down FHA, Fannie, and Freddie. We’ll see.
By the way, there’s no such thing as a conventional 0% down mortgage. If you didn’t put anything down, you implicitly got a government subsidized mortgage. So did I, even though I put 10% down because a 90% mortgage wouldn’t exist without the government. For everyone’s sake, that has to end.
I'm Here From The Government And I'm Here To Help
August 27th, 2010
10:21 am
Southern Comfort
August 27th, 2010
10:16 am
I’m here
I noticed that when I was house hunting. Never knew the logic behind it, but it’s too crowded and too inflated for me to live north of I-20. I’m thinking about moving farther south if I can get out of the house I’m currently in.
We’ll you know what’s the key to buying Real Estate. Location, location, location! We have some comparable’s way up north. Check out Cherokee or Dawson counties.
Bruno
August 27th, 2010
10:21 am
“Bruno – I la-la-LOVE arctic monkeys!!! which song was it?”
The whole point of picking an Arctic Monkey song was to keep you guessing all day. I will say that the one you picked above was probably better than the one I settled on, however.
I’m patting myself on the back for the choice since you only mentioned them once on the W2W blog. Whatever I lack in other areas of pleasing a woman, I make up for by remembering what is special to her.
barking frog
August 27th, 2010
10:21 am
I’m here 10:16 I hope your peeps are not the peeps
handing you the financial handouts..not concerned
about the grammAr just the condescenscion..
Pennsylvanian
August 27th, 2010
10:21 am
Normal @ 10:07 – Before you buy a rice burner, try a late model 1200 H-D Sportster. They are vastly improved over earlier models with vibration isolating engine mounts (similar to Dyna), better brakes, suspension, etc. Prices are down.
Bosch
August 27th, 2010
10:22 am
Kevin @ 10:19 —
If AmVet meets you are you gonna kick his ass?
Seriously dude, this is a freaking blog — chillax.
Peadawg
August 27th, 2010
10:22 am
“looking to blame someone other than yourself for your own problems.”
I don’t have any problems. Wife, 2 dogs, house, jobs for both of us. But money is still tight and it just kinda sets a bad example when the POTUS is off enjoying vacations when the rest of the country is struggling.
AmVet
August 27th, 2010
10:22 am
Shiver me timbers! Kevin is a REAL man!
So where’s that info, “cute” cowboy?
All hat and no cattle?
Too funny.
Over and out.
I'm Here From The Government And I'm Here To Help
August 27th, 2010
10:23 am
Doggone/GA
August 27th, 2010
10:18 am
“The million plus that is cost the AMERICAN TAXPAYER ”
I’d like to see your source for that figure. A million? The most I could find was somewhere around $350,000 – mostly for security costs that we have to pay no matter where she is or goes.
RENT a 757 for a week, then get back to me! DUH!!!
Doggone/GA
August 27th, 2010
10:23 am
“now, THAT’S cool!!”
Yep, it’s been fun. There are some I’ll never get too because of my health conditions or just because of their sheer distance from the nearest road…but still, there are a LOT of waterfalls that are accessible, some are even visible from the nearest road.
Check out this site if you want to see most of them: http://www.jjanthony.com/waterfalls/
Haywood Jablome
August 27th, 2010
10:24 am
Home buyers and owners are suckers.
I sold my place in 2005 and have been renting for since. I’ve keep my sale proceeds in long bonds and I’m KILLING.
Don’t be a sucker and buy into the crap spewed my the housing industry especially those dopey it’s-a-great-time-to-buy realtor types. In others words, never ask a barber if you need a haircut.
Granny Godzilla
August 27th, 2010
10:24 am
Bushs’ little farm…..
1600 acres? 10000 square foot home?
and there’s always the property in South America….
Kevin
August 27th, 2010
10:24 am
By the way- don’t need to- google income disparities Mexico Pakistan or any country in Africa my good little friend.
Granny Godzilla
August 27th, 2010
10:25 am
Good Little Liberal
You don’t recognize that quote?
too funny.
Kevin
August 27th, 2010
10:25 am
Anywhere anytime- plenty of cattle- I call them employees.
The Leg Lamp is a "major award" much like Cynthia Tucker's Pulitzer and Obama's Nobel.
August 27th, 2010
10:26 am
barking frog
August 27th, 2010
10:21 am
Um, you misspelled “condescension”. Just sayin’……
Rafe Hollister
August 27th, 2010
10:26 am
Well, we all know this started with no or few requirements to obtain a mortgage, thanks to the Dems, and builders jumped in building more homes.
I would like to throw this out as a solution, take your shots. The Feds take some waste out of the budget, what is left in Tarp, the Porkulus bill, and whatever money can be raised without taxing the poor future homebuyers out there and grant contracts to RE partnerships who contract to buy and hold houses. They would be allowed to sell a maximum number of homes per month and required to maintain a large inventory. Any money they made would be used to repay the loans from the Fed, and when the housing market recovers any homes left in inventory would be theirs to sell as they choose and any profit left over after repayment of the original loan would be theres to keep. We have to do something with the inventory and importing poor Mexicans is not going to accomplish anything. With job growth down, the number of people who can afford a home continues to shrink, so something drastic has to happen to improve the housing market.
ByteMe
August 27th, 2010
10:27 am
Just a quick drive-by: based on surveys of all credit crises in all countries since WW2 — and what we’ve had is a credit crisis caused by massive asset and debt devaluation — is that it takes an AVERAGE of 39 months to stop the bleeding and 5-6 years before things start to rebound. We’re in that period between 39 months and 5 years now and some people are whining about vacation time, as though the “football” and all the responsibilities don’t travel with the President everywhere he goes.
We get it: you don’t like Democrats in charge, but we also get that Republicans helped create the mess.
I'm Here From The Government And I'm Here To Help
August 27th, 2010
10:27 am
barking frog
August 27th, 2010
10:21 am
I’m here 10:16 I hope your peeps are not the peeps
handing you the financial handouts..not concerned
about the grammAr just the condescenscion..
I feel your pain! Others have felt the same way!
@@
August 27th, 2010
10:28 am
jm:
An interesting little business has opened up down my way. They’ve got signs at just about every street corner. It reads…..”We Find Tenants”.
Oh goody!!!!!!
Grumpy
August 27th, 2010
10:28 am
Holy cow…Bookman actually wrote a column about the economy without blaming George W. Bush. I’m speechless.
Granny Godzilla
August 27th, 2010
10:29 am
I’m Here From
The Government And
I’m Here To Help
Can’t your mom’s got Glenn Beck dressed like a power ranger and she’s leading him in circles round the kitchen table with said leash while cooing sweet nothings in his ear.
Ask her if when she’s done if she can lone it to me will ya’?
The Leg Lamp is a "major award" much like Cynthia Tucker's Pulitzer and Obama's Nobel.
August 27th, 2010
10:29 am
Grumpy
August 27th, 2010
10:28 am
Jay probably still has two more articles in him today where he can blame Bush for something.
I'm Here From The Government And I'm Here To Help
August 27th, 2010
10:30 am
Grumpy
August 27th, 2010
10:28 am
Holy cow…Bookman actually wrote a column about the economy without blaming George W. Bush. I’m speechless.
Patience my friend, it;s coming!
Granny Godzilla
August 27th, 2010
10:30 am
Good Little Liberal
you really don’t know?
afraid to google it I suppose.
USinUK
August 27th, 2010
10:30 am
“that damn Bush and his farm in Texas. Real snobs those Bushes. Hell, Laura was a librarian. Who would ever feel comfortable with snobs like that?”
1) W grew up in CT, not TX. 2) you might want to look up the Bush family wealth
Unlike W, neither Obama’s father nor step-father were head of the CIA and then Veep, who then got him a cushy spot in the national reserves to make sure he didn’t have to fight … then kept him in job after job, despite failure after failure
Bruno
August 27th, 2010
10:31 am
“When I hear people refer to the cause of the housing problem all due to blacks”
SC–You may appreciate the comedy of Sammy Davis Jr. He liked to say “I’m colored, Jewish and Puerto Rican. When I move into a neighborhood, I wipe it out!”
The Leg Lamp is a "major award" much like Cynthia Tucker's Pulitzer and Obama's Nobel.
August 27th, 2010
10:32 am
“Tea Party Spells KKK, Rights Leader Says”
“Tea Party Group Hit With Death Threats…”
Rather than calling this the “Summer of Recovery” perhaps the libs should have called this the “Summer of Love and Tolerance”.