Wednesday, June 14, 2006

The best new articles

It seems there has been an explosion of "bubble danger" articles in the MSM during the last month. Seriously, what you've been reading in the blogs all this year (I started reading them 4 months ago and began blogging shortly thereafter) has finally been noticed/believed/corroborated/reported by the MSM. 2 months ago you still heard the NAR spin stated page and verse, with maybe 1 negative bubble article. The kool-aid was still flowing and the MSM seemed to be essentially agents (or the PR wing) of the RE/Mortgage lending industry. 1 month ago, we saw inclonclusive and/or mixed news articles, but still the blogs were mostly ignored or demonized (as if jinxed it). This month the MSM is dominated by stories of the impending housing bust and the repercussions that come along with it. The greater public is learning that the cynicism over the NAR's spin is well deserved and that the industry has been unethical - corruption and greed, while not all-inclusive seems to be "built-in" at some level (like many other industries). If it's human nature or the nature of business, I can't really object to systematic problems, but it's very sad that a lot of people have been suckered into financial ruin. Yikes, I sound like a liberal, which I'm definitely not. I think we need some good regulation to protect the general public from predatory lending. On the other hand, freedom means letting people make their own stupid choices. When there is money involved, keep your bullshit detector on high alert mode. In the end you have to be personally responsible to protect yourself - and maintain a skeptical attitide. Never believe the bullshit.

Here are some of the better and more relevant articles I've read in the last few days.

I Want My Bubble Back!

How to Profit From a Cooling Real Estate Market
Look who's renting
San Diego County home prices take a tumble
Housing bubble correction could be severe
More housing markets overvalued


At 9:11 PM, Blogger surfer-x said...

You're the guy with two beemer payments living in a rental, right?

At 7:33 PM, Blogger Nozferatu said...

So what if he is...

What...just because someone's renting they have to live a masocistic lifestyle of suppression?

What is with the mentality of people in this country regarding people who don't own?? As if people who rent are somehow lesser than the people who buy? Or because you don't own you shouldn't have a nice car?

Are huge, piece of shit wasteful SUV's reserved only for the McMansion bimbo soccer moms who couldn't point out the USA on a world map?? But since they have a home...they're somehow better than the rest of us??

At 10:11 AM, Blogger InfidelSix said...

No Surfer, I have two bimmers, but only 1 payment. Also 3 motorcycles - 1 Ducati (street), 2 dirtbikes (mine & wife's) and a Dodge van (dirtbike hauler. I'm pretty happy with the setup. Everything is paid off 'cept for 1 and I only make payments on that b/c it'll improve my credit score. Plus I have ZERO credit card debt. I have a very positive net value and I live below my means to keep it that way. I'll probably pay off the other car in the next year.


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