Still Renting's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/52397/comments http://seekingalpha.com/article/134995-jim-the-realtor-san-diego-new-homes-selling-briskly?source=feed#comment-488896 488896
I tore apart one of the print cartriges. The "restet" button was nothing more than a plastic tab used to line up the plastic parts.

IOW, One video does not the truth make, and things in videos are not always what they seem.]]> Mon, 04 May 2009 12:57:55 -0400
I tore apart one of the print cartriges. The "restet" button was nothing more than a plastic tab used to line up the plastic parts.

IOW, One video does not the truth make, and things in videos are not always what they seem.]]> http://seekingalpha.com/article/134869-mortgage-lender-blowbacks?source=feed#comment-488869 488869 Mon, 04 May 2009 12:47:09 -0400 http://seekingalpha.com/article/132375-a-bottom-in-home-prices-is-still-far-off?source=feed#comment-473983 473983 Thu, 23 Apr 2009 09:24:41 -0400 http://seekingalpha.com/article/131715-on-urban-decline-and-efficient-government-intervention?source=feed#comment-470190 470190
But I digress from what I want to say, which is, Detroit's problems are only partly economical. I've been there. When the rule of law breaks down (corruption, etc.) the effects on a city in an economic downturn can be catastrophic, as we are seeing in detroit.]]> Mon, 20 Apr 2009 15:39:45 -0400
But I digress from what I want to say, which is, Detroit's problems are only partly economical. I've been there. When the rule of law breaks down (corruption, etc.) the effects on a city in an economic downturn can be catastrophic, as we are seeing in detroit.]]> http://seekingalpha.com/article/131695-fed-continues-to-posture-on-inflation?source=feed#comment-470094 470094
But at least if it is monetized, the "status quo" is somewhat preserved. That is, it saves those who most deserve to lose their shirts.

Fact is, I am all for the "non-inflation" solution, but I admit the risk of hot war/civil unrest is greater with that solution. But all inflation does is put it off. And the longer it is put off, the greater the pain when it does finally unravel. It is what got us into this mess in the first place.]]> Mon, 20 Apr 2009 14:39:11 -0400
But at least if it is monetized, the "status quo" is somewhat preserved. That is, it saves those who most deserve to lose their shirts.

Fact is, I am all for the "non-inflation" solution, but I admit the risk of hot war/civil unrest is greater with that solution. But all inflation does is put it off. And the longer it is put off, the greater the pain when it does finally unravel. It is what got us into this mess in the first place.]]> http://seekingalpha.com/article/131754-on-the-burden-of-home-ownership?source=feed#comment-470015 470015

On Apr 20 07:39 AM abetterplace wrote:

> Surely no one thinks that this country can stand as it is without
> the "dream of home ownership" staying intact and it will.]]> Mon, 20 Apr 2009 13:47:27 -0400

On Apr 20 07:39 AM abetterplace wrote:

> Surely no one thinks that this country can stand as it is without
> the "dream of home ownership" staying intact and it will.]]> http://seekingalpha.com/article/130753-has-recent-u-s-data-signaled-a-bottom?source=feed#comment-462767 462767
March retail sales were down considerably. We have found no bottom. Discussions and articles may hint at a bottom. Consumer activity does not.]]> Tue, 14 Apr 2009 10:29:28 -0400
March retail sales were down considerably. We have found no bottom. Discussions and articles may hint at a bottom. Consumer activity does not.]]> http://seekingalpha.com/article/130301-the-shadow-inventory-of-foreclosed-homes?source=feed#comment-458900 458900
What about the exodus of both illegal and legal aliens back to Mexico, etc.? And what is the impact to the Mexican economy of them not sending their earned american dollars back to their families in mexico?]]> Fri, 10 Apr 2009 11:11:20 -0400
What about the exodus of both illegal and legal aliens back to Mexico, etc.? And what is the impact to the Mexican economy of them not sending their earned american dollars back to their families in mexico?]]> http://seekingalpha.com/article/130301-the-shadow-inventory-of-foreclosed-homes?source=feed#comment-458889 458889
Meanwhile, the mythical foreclosed house, where the monthly payment was $3,800 a month can now only command a rent of $1,500 (or less) for people in the same demographic as the evicted "owners".

Meanwhile, my daughter rents a condo in downtown Seattle for $1200 a month that has $500 monthly dues. The owner bought it for $285k three years ago but it has gone into foreclosure. It is being offered for $235k.

She now pays $600 a month rent to the "deadbeat" owner and probably should not be paying anything, since he has "walked away". Meanwhile, she enjoys very low rent while hte unit rots on the market.

I have little doubt there is a lot of that going on.

On Apr 09 04:45 PM Charles Lieberman wrote:


> of the equation. Every foreclosure also adds a family to the demand
> side of the market looking for a rental. So, net demand for housing
> units is zero. ]]> Fri, 10 Apr 2009 11:07:26 -0400
Meanwhile, the mythical foreclosed house, where the monthly payment was $3,800 a month can now only command a rent of $1,500 (or less) for people in the same demographic as the evicted "owners".

Meanwhile, my daughter rents a condo in downtown Seattle for $1200 a month that has $500 monthly dues. The owner bought it for $285k three years ago but it has gone into foreclosure. It is being offered for $235k.

She now pays $600 a month rent to the "deadbeat" owner and probably should not be paying anything, since he has "walked away". Meanwhile, she enjoys very low rent while hte unit rots on the market.

I have little doubt there is a lot of that going on.

On Apr 09 04:45 PM Charles Lieberman wrote:


> of the equation. Every foreclosure also adds a family to the demand
> side of the market looking for a rental. So, net demand for housing
> units is zero. ]]> http://seekingalpha.com/article/130294-job-loss-peaks-and-stock-market-lows?source=feed#comment-458867 458867
Also, because this was a consumer based boom, it is subject to the whims of the consumer. The consumer tends to spend until he simply can't. Nobody will give him credit or money. The ranks of people in that condition continues to grow and Craigslist continues to boom.

Again, I want to get some feel for impact of commercial RE contraction before I'd say we are even close to any kind of floor. This whole thing has way too many butterfly effects.]]> Fri, 10 Apr 2009 10:54:30 -0400
Also, because this was a consumer based boom, it is subject to the whims of the consumer. The consumer tends to spend until he simply can't. Nobody will give him credit or money. The ranks of people in that condition continues to grow and Craigslist continues to boom.

Again, I want to get some feel for impact of commercial RE contraction before I'd say we are even close to any kind of floor. This whole thing has way too many butterfly effects.]]> http://seekingalpha.com/article/130193-upward-curve-of-treasury-yield-could-signal-recession-s-end?source=feed#comment-457697 457697
Then I notice they are all by the same guy.]]> Thu, 09 Apr 2009 13:19:03 -0400
Then I notice they are all by the same guy.]]> http://seekingalpha.com/article/130072-is-this-a-sucker-rally-or-new-bull-market?source=feed#comment-457592 457592
And your quality relative to other SA sources is outstanding!]]> Thu, 09 Apr 2009 11:57:16 -0400
And your quality relative to other SA sources is outstanding!]]> http://seekingalpha.com/article/130072-is-this-a-sucker-rally-or-new-bull-market?source=feed#comment-457588 457588
I gotta spell check more. :)]]> Thu, 09 Apr 2009 11:54:48 -0400
I gotta spell check more. :)]]> http://seekingalpha.com/article/130072-is-this-a-sucker-rally-or-new-bull-market?source=feed#comment-457583 457583
I think this thing is analogous to a car running out of vas, You get that first cut out and you look at the guage. You realize you are in trouble. Then it's fine for a few seconds and ithe motor cuts out again. The cycle repeats, but each cycle is slower until the engine is dead, with an occasional droplet giving a spurt of power to your coasting.

This current suckers rally is one of those droplets.

Fundamentally though, the tank is empty. Hopefully there is a gas station just over the hill and you have a gas can in the trunk.


On Apr 08 07:52 AM Jolly_Rancher wrote:

> couldn't it be a new bull market big sucker rally? That's what the
> last bull market was. This time I think there won't be quite as many
> suckers. I wouldn't be surprised at all to see the S&P move up
> to 1200 over the next 2 years then roll over.]]> Thu, 09 Apr 2009 11:52:48 -0400
I think this thing is analogous to a car running out of vas, You get that first cut out and you look at the guage. You realize you are in trouble. Then it's fine for a few seconds and ithe motor cuts out again. The cycle repeats, but each cycle is slower until the engine is dead, with an occasional droplet giving a spurt of power to your coasting.

This current suckers rally is one of those droplets.

Fundamentally though, the tank is empty. Hopefully there is a gas station just over the hill and you have a gas can in the trunk.


On Apr 08 07:52 AM Jolly_Rancher wrote:

> couldn't it be a new bull market big sucker rally? That's what the
> last bull market was. This time I think there won't be quite as many
> suckers. I wouldn't be surprised at all to see the S&P move up
> to 1200 over the next 2 years then roll over.]]> http://seekingalpha.com/article/129871-buying-stampede-winding-down-tread-cautiously?source=feed#comment-454879 454879
The only thing that will save this market for more than a few dead cat bounces is a rapid devaluation (serious inflation) in the currency in which it is traded. I don't see that happening for ab bit, but happen it will, and probably with a vengeance.]]> Tue, 07 Apr 2009 11:17:42 -0400
The only thing that will save this market for more than a few dead cat bounces is a rapid devaluation (serious inflation) in the currency in which it is traded. I don't see that happening for ab bit, but happen it will, and probably with a vengeance.]]> http://seekingalpha.com/article/129887-another-reason-why-inflation-is-a-good-idea?source=feed#comment-454830 454830
It's starting to look prophetic.

Do you REALLY need two gemstone covers for your cell phone?

On a side note, I was mentioning to a friend that a quality pair of jeans at Costco costs exactly $1 more than a lunch. He mentioned that, in the scheme of thongs, it would be cost effective to wear them until they need cleaning and then throw them away.

But that is why I love 'em so. I have six pair and DON'T throw them away. Nor do I eat lunch out any more.

Add bicycle commuting and a person can live in this economy on a pittance. I love it!


On Apr 07 10:34 AM Jimbo wrote:

> Some of us, who survived the last Great Depression, have never bought
> into the idea that you could buy something and then toss it away.
> I guess this is why our sons regard us as "cheap".]]> Tue, 07 Apr 2009 10:53:48 -0400
It's starting to look prophetic.

Do you REALLY need two gemstone covers for your cell phone?

On a side note, I was mentioning to a friend that a quality pair of jeans at Costco costs exactly $1 more than a lunch. He mentioned that, in the scheme of thongs, it would be cost effective to wear them until they need cleaning and then throw them away.

But that is why I love 'em so. I have six pair and DON'T throw them away. Nor do I eat lunch out any more.

Add bicycle commuting and a person can live in this economy on a pittance. I love it!


On Apr 07 10:34 AM Jimbo wrote:

> Some of us, who survived the last Great Depression, have never bought
> into the idea that you could buy something and then toss it away.
> I guess this is why our sons regard us as "cheap".]]> http://seekingalpha.com/article/129614-on-bubbles-and-depressions?source=feed#comment-453483 453483
My wife was a real estate agent when they increased the allowable percentage of your income for your house payment to over 50%.

We knew something was fishy and, meanwhile, still pay $1,600 a month rent for a $525k house.]]> Mon, 06 Apr 2009 12:07:44 -0400
My wife was a real estate agent when they increased the allowable percentage of your income for your house payment to over 50%.

We knew something was fishy and, meanwhile, still pay $1,600 a month rent for a $525k house.]]> http://seekingalpha.com/article/129198-one-in-ten-americans-receives-food-stamps?source=feed#comment-451165 451165
She reluctantly accepted food stamps until she got on her feet and then was very particular about what she actually bought..

She was on food stamps for 3 months.

That is what food stamps are supposed to be for. Too many see them as something different and long term. That hint's at the kernel of our problem.]]> Fri, 03 Apr 2009 15:31:59 -0400
She reluctantly accepted food stamps until she got on her feet and then was very particular about what she actually bought..

She was on food stamps for 3 months.

That is what food stamps are supposed to be for. Too many see them as something different and long term. That hint's at the kernel of our problem.]]> http://seekingalpha.com/article/128869-obama-just-pulled-a-reagan-on-the-automakers?source=feed#comment-448589 448589
From the article: "On August 5th 1981, President Reagan fired 11,345 air traffic controllers who were illegally on strike."

Key word: Illegally.

The president had power with the ATC's because they were under the government's jurisdiction and were ipso-facto- breaking the law.

We are supposed to be a nation of law. Obama can act when constitutional laws are violated, or he can give the automakers "strings attached" bailouts and then pull the strings, but that is about it.

It also is why so many banks were in a desperate race to give the money back.]]> Wed, 01 Apr 2009 19:51:07 -0400
From the article: "On August 5th 1981, President Reagan fired 11,345 air traffic controllers who were illegally on strike."

Key word: Illegally.

The president had power with the ATC's because they were under the government's jurisdiction and were ipso-facto- breaking the law.

We are supposed to be a nation of law. Obama can act when constitutional laws are violated, or he can give the automakers "strings attached" bailouts and then pull the strings, but that is about it.

It also is why so many banks were in a desperate race to give the money back.]]> http://seekingalpha.com/article/128453-stephen-roach-abandons-economic-armageddon-prediction?source=feed#comment-445295 445295
This is still playing out, as the unwinding of last week's sucker rally is happening right now. Let's see where we are in a year.]]> Mon, 30 Mar 2009 12:16:31 -0400
This is still playing out, as the unwinding of last week's sucker rally is happening right now. Let's see where we are in a year.]]> http://seekingalpha.com/article/128472-seven-uncomfortable-predictions-for-the-economy?source=feed#comment-445260 445260
When we move out there I will put up my Galt's Gulch plackard.

This is gonna get very bad and this nation does not have the character it did in the 30's . The "crime" part is one I've been focusing on since 2007.




On Mar 30 08:53 AM epeon wrote:

> Buy your guns, run for the hills, plant a garden, start hunting deer.
> Damn, the appocalypse is at hand!!!]]> Mon, 30 Mar 2009 11:58:15 -0400
When we move out there I will put up my Galt's Gulch plackard.

This is gonna get very bad and this nation does not have the character it did in the 30's . The "crime" part is one I've been focusing on since 2007.




On Mar 30 08:53 AM epeon wrote:

> Buy your guns, run for the hills, plant a garden, start hunting deer.
> Damn, the appocalypse is at hand!!!]]> http://seekingalpha.com/article/127977-congress-handling-of-aig-bonuses-is-shameful?source=feed#comment-441434 441434

On Mar 26 09:25 AM 2houndz wrote:

>;;;
> Situations like this usually do not have a happy ending. How long
> before they are loading people on freight cars?
> ]]> Thu, 26 Mar 2009 15:38:41 -0400

On Mar 26 09:25 AM 2houndz wrote:

>;;;
> Situations like this usually do not have a happy ending. How long
> before they are loading people on freight cars?
> ]]> http://seekingalpha.com/article/127977-congress-handling-of-aig-bonuses-is-shameful?source=feed#comment-441427 441427 Thu, 26 Mar 2009 15:28:13 -0400 http://seekingalpha.com/article/127885-is-it-time-to-jump-back-into-the-market?source=feed#comment-441346 441346
A few major shopping mall bankruptcies/closures cannot help the market.

This is going to be an interesting spring/summer.]]> Thu, 26 Mar 2009 14:20:11 -0400
A few major shopping mall bankruptcies/closures cannot help the market.

This is going to be an interesting spring/summer.]]> http://seekingalpha.com/article/119970-history-indicates-a-bottom?source=feed#comment-385422 385422
He didn't.


One should err on the side of caution when using previous "similar on the surface" events to predict the outcome of current events. The devil is in the details, and the subtle fundamental differences.

Past performance does not guarantee future results.]]> Thu, 12 Feb 2009 09:39:58 -0500
He didn't.


One should err on the side of caution when using previous "similar on the surface" events to predict the outcome of current events. The devil is in the details, and the subtle fundamental differences.

Past performance does not guarantee future results.]]> http://seekingalpha.com/article/118632-searching-for-a-housing-bottom-look-at-new-sales-activity?source=feed#comment-377017 377017
Yet I just bought 13 acres in central Kentucky. The 30 year house payments will be roughly the same as my monthly payments on my six year loan on my old Chrysler.

The price was so low that the property could continue to lose 75% of it's value and it would still be worth it to me. It is because I didn't buy it as an investment. I bought it because it is exactly where I want to live and I can afford it.

And as you pointed out. Central Kentucky aint San Diego or Seattle. It just didn't run-up and will almost certainly not have all that much of a run-down.

Simple, really. ]]> Thu, 05 Feb 2009 11:30:48 -0500
Yet I just bought 13 acres in central Kentucky. The 30 year house payments will be roughly the same as my monthly payments on my six year loan on my old Chrysler.

The price was so low that the property could continue to lose 75% of it's value and it would still be worth it to me. It is because I didn't buy it as an investment. I bought it because it is exactly where I want to live and I can afford it.

And as you pointed out. Central Kentucky aint San Diego or Seattle. It just didn't run-up and will almost certainly not have all that much of a run-down.

Simple, really. ]]> http://seekingalpha.com/article/118423-better-to-rent-than-buy-a-home?source=feed#comment-376987 376987
A divorce forced me out of my home of 20 years over a decade ago. When I finally had the money to buy a home, the shenanigans started with mortgages (50% of monthly income became ok for a house payment). Although I turned out to be premature and could have made a killing if I had done "timed buy and sell", I decided to rent. In ten years I have paid between $1,400 and $1,750 rent to live in houses, all with two car garages.

My current home (which I rent) costs me $1,600 a month. Zillow had it at $525k a year ago. It is the nicest of the homes I have lived in with five bedrooms and even has a 1/3 acre professionally landscaped yard with huge deck and a 500 sq ft out-building. It is 8 miles from my place of work and a beautiful bicycle commute on a new road complete with bike lanes.

The amount of money I am saving every month by renting is obsene. I'd be nuts to buy in this market. Give it a few years, assuming this thing does not end in a hot war, and it will be sweet indeed.]]> Thu, 05 Feb 2009 11:18:17 -0500
A divorce forced me out of my home of 20 years over a decade ago. When I finally had the money to buy a home, the shenanigans started with mortgages (50% of monthly income became ok for a house payment). Although I turned out to be premature and could have made a killing if I had done "timed buy and sell", I decided to rent. In ten years I have paid between $1,400 and $1,750 rent to live in houses, all with two car garages.

My current home (which I rent) costs me $1,600 a month. Zillow had it at $525k a year ago. It is the nicest of the homes I have lived in with five bedrooms and even has a 1/3 acre professionally landscaped yard with huge deck and a 500 sq ft out-building. It is 8 miles from my place of work and a beautiful bicycle commute on a new road complete with bike lanes.

The amount of money I am saving every month by renting is obsene. I'd be nuts to buy in this market. Give it a few years, assuming this thing does not end in a hot war, and it will be sweet indeed.]]> http://seekingalpha.com/article/115290-what-can-we-learn-from-the-1930s?source=feed#comment-360141 360141
They cannot aford the price nor time commitment of the permit process.]]> Mon, 19 Jan 2009 15:18:45 -0500
They cannot aford the price nor time commitment of the permit process.]]> http://seekingalpha.com/article/115253-bulls-hold-the-line-for-now?source=feed#comment-360134 360134 Mon, 19 Jan 2009 15:15:06 -0500 http://seekingalpha.com/article/115329-team-obama-vs-team-reagan?source=feed#comment-360071 360071 Mon, 19 Jan 2009 14:12:34 -0500