Open House Picks: Six Months Later

Ow Ow My Ass
Massive hurt from I-Beam
Blood leaking from my Anus

What=–a poet and he don’t even know it.

BHO, MM and all;

You keep speaking about the economy, but may I remind you again that there is the spector of inflation. Inflation is a monetary phenomenon that is not necessarily coupled to the economy. Old decreptitudants like myself remember the 70’s when we had a lousy economy, a lousy stock market AND high inflation. Hence the term “stagflation” was coined.

If indeed inflation does come roaring back, those who can hold onto their house, expecially if they are leveraged,will be looking mighty smart.

With helicopter Ben Bernanke printing out the dollar bills, inflation is a distinct possibility. From what I read Angela Merkel of Germany is so pissed at our government that she’s barely speaking with Obama. She believes that we are taking our eye off the ball with regard to the possibility of inflation.

We’ll see what happens, but can you please learn one fundamental fact: a bad economy does not necessarily mean deflation. Indeed, it can often lead to inflation as the dollar bills are printed out.

Houses are moving in the hoods because buyers sheepishly think there’s value there (no downside) and because of FHA loans.

Nice ‘devil’s advocate’ joe the bummer. Muffy ‘left her feet’.

Guys/gals – There is no accurate information on distress besides pre-foreclusure data (I’m still waiting for someone to post the trend since peak). And New York State is very big, Benson (exactly what percentage of those above the water surface is attributed to NYC?). So due to depressionary conditions, you have to assume it’s widespread. Those that aren’t panic-selling are holding out only because they’re falling for the hype of a ‘V’-recovery. It aint happenin’. It’ll look like an ‘L’ for some time. The day, month or year that they realize that, panic selling (capitulation) will ensue. Not necessarily because of distress but also as a growing opportunity cost (once in a lifetime boom/bust). By the time we see recent peak prices again, it won’t matter for people who are trying to hold on.

Get it while it’s hot opportunistic owners! (Not applicable for owners that love their home enough not to ‘sell-out’ and are far from distress – 25% of them or less.)

***Bid half off peak comps***

Thank you sebb, but I think joe the bummer trumped me with:

—-clearly, none of us have any friends.

That made me laugh our loud. I think biff and north slope renter should be writing for Letterman or someone like that and making millions.

BG: 1.3? How long do you think that will keep you in assisted living? Your”friend” in real estate is looking to make a quick sale.