[mojavedxer]

Originally Posted by tony soprano

Yes, you clearly missed the housing meltdown. There's no mistaking that. And it's unfortunate for anyone that followed your advice instead of those that warned that the housing market was headed for trouble. As for context of the conversation I linked above - it's all very clear. All one has to do is read the the conversation as it is quoted. Further, every message in that quoted conversation is still live. I suspect it is wishful thinking on your part that they have been purged.

Now, why don't you DM SLCPunk about that steak dinner you owe him?

And dinner at the Golden Corral does not count

[olecapt]

Originally Posted by tony soprano

Yes, you clearly missed the housing meltdown. There's no mistaking that. And it's unfortunate for anyone that followed your advice instead of those that warned that the housing market was headed for trouble. As for context of the conversation I linked above - it's all very clear. All one has to do is read the the conversation as it is quoted. Further, every message in that quoted conversation is still live. I suspect it is wishful thinking on your part that they have been purged.

Now, why don't you DM SLCPunk about that steak dinner you owe him?

Actually I missed the mortgage holder suicide. That is when those holding mortgages in a limited number of places chose to drive prices to irrational levels. They were driving prices downward by more than 5% per month while making over 80% of the sales. A market not manipulated would have behaved very differently.

There was considerably more to the discussion. Note however it is agreed that I do owe him a steak dinner.

I will leave any DMs to you...would never want to deprive you of a chance to gloat. You get so few...

[olecapt]

Originally Posted by mojavedxer

And dinner at the Golden Corral does not count

How about the Outback?

[tony soprano]

Originally Posted by olecapt

Actually I missed the mortgage holder suicide. That is when those holding mortgages in a limited number of places chose to drive prices to irrational levels. They were driving prices downward by more than 5% per month while making over 80% of the sales. A market not manipulated would have behaved very differently.

There was considerably more to the discussion. Note however it is agreed that I do owe him a steak dinner.

I will leave any DMs to you...would never want to deprive you of a chance to gloat. You get so few...

Call it whatever you need to in order to feel better about being so horribly wrong. It was suicidal! The market was manipulated! The moon was in the wrong lunar phase! Blah, blah, blah.

And I feel no real need to gloat over your many wrong calls. More, I choose to point them out to people so that they understand your track record. I'd hate to see you put any more people underwater.

[PugMom17]

We bought our house here in March. We applied for a loan to get the yard done and found out our house has lost $5000. in value since them. How much more will it go down before it goes back up? It's worth more than we paid for it to us. We still feel we got a great deal.

[olecapt]

Originally Posted by PugMom17

We bought our house here in March. We applied for a loan to get the yard done and found out our house has lost $5000. in value since them. How much more will it go down before it goes back up? It's worth more than we paid for it to us. We still feel we got a great deal.

You didn't lose any value since March. At least not so anyone could tell you. You have not made anything either so you are still out the 8% or so it costs to sell a house.

Las Vegas has been pretty much flat for the last year. And right now it looks like it is going to stay right there for a while.

[mojavedxer]

Originally Posted by olecapt

How about the Outback?

I think Outback or Lonestar would be sufficient to satisfy the bet.

[JM95]

The cap has buried (drowned?) more homeowners than the local cemetery.
Cap is often wrong - but never in doubt!

Originally Posted by tony soprano

Call it whatever you need to in order to feel better about being so horribly wrong. It was suicidal! The market was manipulated! The moon was in the wrong lunar phase! Blah, blah, blah.

And I feel no real need to gloat over your many wrong calls. More, I choose to point them out to people so that they understand your track record. I'd hate to see you put any more people underwater.

[sheriwx]

Originally Posted by JM95

The cap has buried (drowned?) more homeowners than the local cemetery.

Oh please. Cap has done nothing more than offer his opinion on where things were headed. If people chose to buy or not to buy based solely on the opinion of one internet realtor on a forum, they are idiots. Saying OleCap is responsible for people choosing to buy a house in a down market is ludicrous. So he guessed wrong. Who cares. We're all wrong sometime or another.

[olecapt]

Originally Posted by JM95

The cap has buried (drowned?) more homeowners than the local cemetery.
Cap is often wrong - but never in doubt!

Actually olecapt made few if any recommendations to buy or sell that were not appropriate.

Olecapt makes few buy/sell recommendations ever. He does like to speculate on what is happening...but you take your own chances.

At the moment he believes we are probably in the best buyers market of our lives...but he will still point out it appears a stable one and will likely continue to at least next spring and maybe longer. So if you are going to buy you will not likely have a better shot than now and the next months.

So there is actually a rare thing...an olecapt recommendation.

Selling your house is not a bad thing either if coupled to a buy. You minimize your selling costs and get to take advantage of a great time to buy.

If you are cashing out I would wait some years. Probably the worse time for that in our lifetimes as well.

Those who will eventually have to go short should think about doing it before the end of 2012. The tax break may be extended but it is not guaranteed. And if you will eventually have to take the hit you might as well do it now with the crowd. Don't string it out to end up a solo act in ten years.