8 Replies to “This Is Awkward”

  1. Easy to explain. At first they just used James Hansen’s climate AlGore-ithms and massaged the data like “an objective constrainment algorithm to adjust SW and LW TOA fluxes within their range of uncertainty to remove the inconsistency between average global net TOA flux and heat storage in the earth–atmosphere system.” ☺ ☺
    But the housing folks must have been ratted on and came clean…unlike the climate folks. It IS worse than we thought. ☺
    Obama probably does not like the new figures.

  2. My neighbor’s house, down in Florida just burned, they are rebuilding. Unbelievable. I would buldoze the remains into the pool, take my insurance and buy a foreclosure down the street and split the land between the two neighboring houses. Or maybe plant it with mahogany trees for my grandkids.

  3. How did this happen?
    Subprime loans for people unable to afford a new house, market grows, 2007 housing bubble pops.
    1999 Obamba & Acorn sue City Bank in Federal court to force subprime lending to people who can’t afford a new house.
    Very simple, yet deny, deny, deny.

  4. Tim- most insurance policies prohibit cash payouts. They have no option but to re-build. I saw a report this morning, showing sales are up a bit, even after the adjustment. One thing that’s helping US sales, is the substantial number of Canadians buying up cheap properties, for vacation/retirement homes. I considered it myself, but I’m concerned about criminals buying properties for grow-ops, etc.

  5. “but I’m concerned about criminals buying properties for grow-ops, etc.
    isn’t it smarter to just rent for that business, less of a capital out lay:-))))

  6. Gym- Have you checked out house prices in Arizona lately? $100 thousand gets you a pretty nice spread, and no landlords snooping around.

  7. My Arizona real estate agent has stopped working in the business since 2009 because every time she gets a sale, the mortgage doesn’t get approved. She says its near impossible to get approval on anything other than cash sales.
    And that right there’s your explanation for that graph.
    But wait, there’s more! The other issue is banks withholding foreclosed properties from the market in a vain attempt to keep prices from falling further. If Barry wins by hook or by crook in 2012, watch for that graph to nosedive.

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