Bearish Bob Toll: No One Wants to Look 'Like a Schmuck'
Well, leave it to Bob Toll to cast storm clouds over a Bloomberg news article that contains a slightly positive piece of news—the index of pending home sales rose 6.3 percent in April—about the national housing market. “What people are most scared of is looking like a schmuck,” said Toll, who believes the housing slump…
Well, leave it to Bob Toll to cast storm clouds over a Bloomberg news article that contains a slightly positive piece of news—the index of pending home sales rose 6.3 percent in April—about the national housing market. “What people are most scared of is looking like a schmuck,” said Toll, who believes the housing slump will last another two to three years, at a conference in New York last week. “What do I want to buy a home for and next year be looking at 10 percent less asset?” Economists, meanwhile, incorrectly predicted that the index of pending home sales would actually fall slightly in April. Either way, no one’s taking the news as a sure sign that housing is on the rebound, or that there’s going to be a substantial dent in the 5 million or so unsold homes on the market, or that the foreclosure rate is going to take a nosedive anytime soon.
U.S. Economy: Pending Sales of Existing Homes Unexpectedly Rise [Bloomberg]
Photo by david.
11:29, great attempt, but still crickets chirping and tumbleweeds blowing by.
Bold type guest, valiant attempt as well. I’m not sure about the homeless shelter, but thought one of the faded type guests had an update in another thread. If only there was a way to require logins, I could remember who it was.
I want gazpacho!!! Oh wait- ok- just so you all know- I hate Biff. It was going to be an interesting thread til he posted 🙂
Sorry if this appears twice- so hard to tell if your post is going to show up or not.
bold type- got a recipe for that yellow tomato gazpacho?
Bitter renter in need of sangria and yellow tomatoes. (well, you invited us!)
Anyone hear that piece about the “underinsured” getting bankrupted by health care costs on NPR — and how it’s now cutting into the middle and upper middle class? Bad times.
11:27… The Asia Times is about as serious a read as New York Magazine. For those of you that have not cut & pasted the article, you should. Its quite amusing and the premise of all of the discussion is the story line for “Kung Foo Panda”
What’s going on with the Crown Heights Arnory homeless shelter proposal???
park slope sucks.
“We’re definitely in dire need of something controversial today.”
How about the view from abroad — the Asia Times reporting the Youth of America are about to get the economic asskicking they deserve, and get on their knees before their foreign masters.
http://www.atimes.com/atimes/Front_Page/JF10Aa02.html
I actually think it’s the older generations who bankrupted the country, but that is a whole different debate.
“Americans have to work harder, save more, and defer gratification. Instead of spending four years in a non-stop party at a taxpayer-subsidized state university, the middling American student will work during the day, go to night school, and save for a dozen years to buy his or her first house (at a much lower price than the present owner paid for it). They will stop complaining about boring jobs and oppressive bosses, and feel grateful to have the work. Their parents won’t bail them out; in fact, their parents will postpone retirement and work and additional 10 or 15 years. It’s not going to be fun, but there’s no helping it. The sooner Americans reconcile themselves to a tighter belt and a longer day, the better.”
That’s right, what the so-called “hard working white middle class” was saying about folks like The What 15 years ago, people across the country are now saying about us all. Doesn’t sound like they want to lend us more money so we can buy more of their stuff.
We’re going to get hit with the “lovey dovey” hate soon
WOW Biff. Don’t bait them!!! Maybe gazpacho made from yellow tomatoes to liven things up a bit.
Lets invite some renters too.
We’re definitely in dire need of something controversial today. Even the trolls seem quiet and The Fake What is just not doing it for me.
Ok, I’ll acquiesce. A nice cold, air conditoned bar with pitchers of sangria will suffice. Maybe some gaspacho soup too (I intentially misspelled “gazpacho” just to liven things up a bit around here).