Say it aint so Miss May!!!!

Discussion in 'Economics' started by Brandonf, May 29, 2005.

  1. Brandonf

    Brandonf ET Sponsor

    There are now as many real estate agents in California as there were houses sold last year. Miss May (from Playboy Magazine) is said to have cut short her modeling career to enter the real estate game. Say it aint so! They say bells don't ring at the top, but is that a ring I hear in the distance?

    Brandon
     
  2. I saw this posted the other day on this topic...the shoeshine boy has spoken! Perhaps now the runaway bride can become a realtor? OWP

    http://thehousingbubble.blogspot.com/2005/05/so-long-playboy-hello-real-estate.html#comments

    "Now they're not just ringing a bell, they're sounding off sirens!"

    "Who's left to join this ship of fools? Is the Pope gonna quit and become a mortgage broker? Is Terry Schiavo gonna rise from the dead and announce that she is planning to do some condo conversions in Boca?"

    "I used to study semiotics---the examination of signs and symbols and how they can be used to signify larger meaning within systems and cultures. So I get kind of worked up when I see stories like this."

    "If this ain't a sign, I don't know what is."

    "It's like driving down a deserted highway and seeing a sign that says "Dead End". But you proceed. Then a few more signs crop up, "Road Ending", "Danger", "Cliff Ahead". But you proceed. Then an entire forest of signs, "Stop Now!", "You'll Be Sorry", "The End is Near". There are car parts and body parts strewn across the highway. There are vultures circling above. Black smoke rises in the distance. But you proceed."

    "And you go off the cliff..."

    "As you plummet, you notice something very strange. There are no more signs."
     
  3. I suppose pretty soon they'll the MAL, as in 'Multiple Agent Listing'. This way 4-5 agents will work to
    'sell' your house! How else to even have each of those agents sell 1 house/year?
     
  4. Brandonf

    Brandonf ET Sponsor

    I'd probably buy a house from her! Holy Crap. Her name is Jamie Westenhiser. You can go to centerfold-babes.net and find her. Might its a good switch in her case.

    Brandon
     
  5. i read that blog

    there is some contradiction, in that one the one hand, they post articles that say the boom is over, but the blog comments are anxiety/jeolousy ridden remarks about the insanity

    there's too much 'want to be true' going on with both sides of this bet

    And that's why the whole thing is so dangerous on either side

    Remember, in a bubble, the last 50% rise is in the last 10% of the time of the bubble duration

    Lending practices, are the reckless I have ever seen, as well as rates at all time lows

    But we also have massive dollar destruction and immigration

    So we have many forces at all time full speed high

    And monetary and representative leadership at an all time low
     
  6. well didn't Jenna Jameson take to trading stocks back in 2000 ?
     
  7. I agree with swtrader above:

    "the blog comments are anxiety/jeolousy ridden remarks about the insanity"

    Its when people miss the run that this sort of behavior kicks in. Or he's a piker living in an apartment and now he's looking at buying in cause, well, who in the world wants to live in an apartment. Either way, to say the RE boom is over is idiotic. If your worried about inflation, RE keeps up with it. If your worried about deflation, well everything gets hit and theres nothing to do about it.

    Buy it, live in it, sell it 30 years out. You can't live in stock, can't live in a mutual fund, etc.... Easily the best investment.
     
  8. Good work, Brandon! (do you happen to have the link for her? :D)

    My rubber blow-up doll looks just like Alley Baggett, with the lights turned off.

    Jamie's not exactly a realtor according to this - she's a real estate "investor."

    There's a difference, I think.
     
  9. I'm not saying there can't be a bust, even in the near future

    I'm saying it's dangerous to BET on it, and that the blog reflects wishfull thinking

    Unfortunately, those who don't own a home (of whom there are less now), are in a damned if they do/damned if they don't position, and that's what the anxiety in those blog remarks reflects

    Personally, I think what greenspan has done is cruel, and deliberate - he's added risk to home purchase

    He's taken a basic human need, and turned it into a speculative instrament, and one that transfers the wealth of conservative savers to borrowers and spenders.

    Also, as far as 'live in it for 30 years' goes, can all Americans really do that? Think about Wes Clark's comment in the Democratic Debates 'Let them do the software in India, We'l do something else'

    Well, he never got around to mentioning what that 'something else' is

    Can the homebuyer really be sure the 'something else' will be in his town?

    Or will he have to move to get in on it? Then a negative house fluctuation isnt quite so acedemic - My sister told me about exactly that situation in the early 90s - people haveing to move out of bay area for a job transfer ate 6 figure losses on their homes, even back then - doesnt matter that the loss in that area came back - they were long gone

    That's where the problem starts corporate employment has never been less stable, and instability is part of a long term trend. And yes, corporate employment is a large percent of home owners/buyers