[Hero]

his delivery is fine. He's gotta live up to his name as Crazy G right?

>>>>>>>>> ENJOYS HIS POSTS <<<<<<<<<<<

[lostbuyer]

oh by the way,did anyone here catch mr. snaith,an mr. fishkinds latest real estate predictions?? these guys are better than stand-up comedy,you just cant make this stuff up..I feel sorry for the real victims of this bust(not very many people)but you gotta admit its entertaining as Hell.

[hiknapster]

Now that the media and analysts are actually entertaining the possibility of a recession and Bush has finally conceded that things are really not so, well, great, I think it's time for the real free-fall to begin.

Things have moved way beyond a housing market problem.

[Crazy G]

Originally Posted by Flat2MT

The guy who owns most of CITI is a very wealth Saudi prince who 'bought' this bank in the late 80s and early 90s. Isn't it ironic that all his money came from us buying his oil and he then invested his oil billions in our real estate market. I guess it's just desserts don't you think? Payback is sweet....

================================================== ==========

""TALKING"" about .....>>>>""ANOTHER""<<< $10 Billion for CitiCorp....

Supposedly the stock is rallying, [BECAUSE????] they're not going out of business?????

[hiknapster]

I know. The market rallies on the saddest bits of information. I think they are tilting at windmills.

[hiknapster]

So the stock market has been taking a dive, since the beginning of the year, and today Bernake announces that he will cut the interest rate on January 29. Usually he's hush-hush about what he's going to do, but with the market tanking, he figured he better throw them a bone VERY early.

Anything to save the stock market.

Bear in mind that this cut won't help the little guy, but the banks themselves.

Now the Fed has created a new scam to prop up the banks. We knew that they would, didn't we?

To help squeezed banks deal with credit problems, the Fed recently created a new auction facility for financial institutions to go to for short-term loans. The Fed in December provided $40 billion worth of loans to banks and will provide another $60 billion in two auctions in January.

Bernanke said these auctions will continue “as long as necessary” to help banks get over credit humps so that they will keep lending to people and companies. The auctions, Bernanke said, “may thus become a useful permanent addition to the Fed’s toolbox.”

Sounds like a bail-out to me!

Meanwhile, Bank of America says it's in talks with Countrywide to buy them out.

This is becoming a spectacle of epic proportions.

[sunrico90]

Many builders have rolled out unusual plans to boost business, from free luxury car leases to free pools. Now, some are hoping discounted prices will produce the sales volume they've been seeking.

The prices are dropping, so the perks are gone

Bradenton.com | 01/11/2008 | Builders get creative to boost sales (broken link)

Also, Country Wide Financial another victim of their own game....

[CJFlorida]

Originally Posted by sunrico90

Many builders have rolled out unusual plans to boost business, from free luxury car leases to free pools. Now, some are hoping discounted prices will produce the sales volume they've been seeking.

The prices are dropping, so the perks are gone

Bradenton.com | 01/11/2008 | Builders get creative to boost sales (broken link)

Also, Country Wide Financial another victim of their own game....

This is very telling...prices down 25% yet inventory still at historic levels. I love how real estate folks are holding onto any little kernel....price reductions didn't lead to sales but some folks at least talked to us!!! That is classic.

"New homes are 25 percent less than they were in 2004 and 2005," Sanchez said.
Several of the new models Gibraltar has underway are at Lakewood Ranch's Country Club East.
Lakewood Ranch allowed 20 percent reductions in lot prices in its new Country Club East community in an attempt to stimulate sales, Sanchez said. The reduction, which expired in December, didn't lead to any Gibraltar sales but it did start dialogues with a group of potential buyers.


"Our prices are already considerably lower than they were in 2004 and 2005. The current pricing is historically unprecedented," Sanchez said.

[ucfjtm]

Originally Posted by CJFlorida

"The current pricing is historically unprecedented," Sanchez said.

Surely he's not referring to price vs inflation value compared to history.. prices are still way higher than inflation equivalent value from any point in the past. He needs to reform his statement - "The current freefall in pricing is historically unprecedented."

[Wild Style]

Originally Posted by CJFlorida

This is very telling...prices down 25% yet inventory still at historic levels. I love how real estate folks are holding onto any little kernel....price reductions didn't lead to sales but some folks at least talked to us!!! That is classic.

"New homes are 25 percent less than they were in 2004 and 2005," Sanchez said.
Several of the new models Gibraltar has underway are at Lakewood Ranch's Country Club East.
Lakewood Ranch allowed 20 percent reductions in lot prices in its new Country Club East community in an attempt to stimulate sales, Sanchez said. The reduction, which expired in December, didn't lead to any Gibraltar sales but it did start dialogues with a group of potential buyers.


"Our prices are already considerably lower than they were in 2004 and 2005. The current pricing is historically unprecedented," Sanchez said.

man oh man, if they are this desperate now, can you imagine what November of 2008 is going to look like? I hate to say this but, I wouldn't be surprised if a lot of these people don't attempt suicide. Its sad but people link importance in life with money. Pretty sad state of affairs.