The Man Who Sold the World — Nirvana
You’re face to face
With the Man who Sold the World
I have been working on expanding the reach of The Great Housing Bubble, and I would like to tell you more about what is going on. As many of you have probably noticed, we have a new eCourse offering in the sidebar of the IHB. This is a no-cost eCourse that you may opt out of at any time. If you choose to sign up, you will receive the entire text of The Great Housing Bubble over the course of 16 emails. There is nothing to lose.
Like all free offers, there is a catch. There are some emails asking you to buy the book, and there is an ad at the bottom of each email. The emails come frequently at first, but then they slow down to one per week. It takes 3 full months to obtain all the text emails. However, if you are patient, and if you want to read the whole book in small, bursts to help you get through it, this is a good way to do it. And of course the best part is that it is totally free.
I am still offering the full-text eBook for $4.95. It is a great way to review the whole text of The Great Housing Bubble without spending much money. However, this ebook cannot be printed, so to complete the book, you will be reading 250 pages of text from a computer screen.
The new offering I am most excited about is the self-taught eCourse. This is the format best suited to really learning about the housing bubble. When you sign up, you will receive a link to a printable version of the eBook. You can print this out to read and review at your leisure. Then over the course of 16 days, you will receive the full text of The Great Housing Bubble in email form. This will remind you to read the material and it breaks it down into small pieces you can easily get through. Also, the emails contain the useful end notes where I provide more depth on the subject matter.
Of course, everyone who wants an attractive reference on the subject should obtain the book itself. Amazon now has the book on sale for $13.57, a full 32% discount off the $19.95 retail price.
Free Offers
The Great Housing Bubble has the answers!
See for yourself with our great FREE offers…
Free eCourse!
Sign up for our free 16-part eCourse. A series of emails will be
delivered to you with the complete text of The Great Housing Bubble.
There is no charge, and you can stop the emails at any time. You have
nothing to lose and everything to gain. Sign up now!
Free PDFs!
These PDFs are completely free. Each one contains a different
section of The Great Housing Bubble. They are a great way to preview
the work.
> What is a Bubble
> The Credit and Housing Bubble
> Preventing the Next Housing Bubble
> Housing Bubble Psychology
> Fundamental Valuation of Houses
> Conservative House Financing
> Buying and Selling During a Price Decline
Buy this book now!
Full-Text Ebook Download
Do you want the book, but you are unsure if you want to spend $19.95? What if I told you there was a way to get the complete text for much, much less? Well, there is. You can download the ebook.
Get this full-text eBook for the amazingly low price of just $4.95!
Self-Taught eCourse
Have you ever purchased a book or an ebook but failed to read it? We
have designed a program to help. Our self-taught eCourse combines the
full-text ebook with regular full-text emails. The eBook version with
the self-taught course is printable so you can obtain a hard copy to
facilitate easy reading. Also, when you sign up for the eCourse, you
will receive our 16-part eCourse emailed to you once a day for 16 days.
This breaks down the work into small sections which are easy to read
and retain. If you are serious about learning about The Great Housing
Bubble, this eCourse is the way to go.
Get this self-taught eCourse for only $9.95!
Paperback on Amazon.com
The paperback version of this book is available for sale at
Amazon.com. This book is destined to become the authoritative reference
for one of the most dramatic events of our times.
This book is available for only $19.95! $13.57!
Amazon has gone crazy.
Buy now!
This price will not last.
We passed upon the stair, we spoke in was and when
Although I wasn’t there, he said I was his friend
Which came as a surprise, I spoke into his eyes
I thought you died alone, a long long time ago
Oh no, not me
We never lost control
You’re face to face
With The Man Who Sold The World
I laughed and shook his hand, and made my way back home
I searched for a foreign land, for years and years I roamed
I gazed a gazeless stair, we walked a million hills
I must have died alone, a long long time ago
Who knows? Not me
I never lost control
You’re face to face
With the Man who Sold the World
The Man Who Sold the World — Nirvana
Anyone else want some TARP?
(hat tip to Calculated Risk)
I have been involved with construction and development in Orange County for the past 18 years. I enjoy reading this blog from time to time. If you are looking to purchase a home, wait untill new home production returns to Orange County. I can tell you this when new capital and investment are devoted to new home development in Orange county the product will sell. There are several large land projects in default in the county and when reworked and developed the product will sell. Any new development in this market will sell and you will be surprised at the pricing.
I can tell you this, the two major land holders in this county know were the the market is for merchant builders. Land values and lot sales will soon meet the market.
“Any new development in this market will sell and you will be surprised at the pricing.”
Yes, I will be quite surprised if people can continue to pay unaffordable prices when they cannot obtain financing on the unsustainable terms of the bubble.
I will agree that any new development in OC would sell, if they lowered the price to affordable levels. The only reason there are not new developments selling homes in OC is because landowners want unrealistic prices. Residual land values in OC are still positive, unlike Riverside County where land values are negative, so there is potential for new construction in OC. Unfortunately, land values are not high enough for the landowners to be willing to sell, so nothing is happening. It certainly does not look like new capital and investment will be entering the OC home market any time soon.
As I mentioned above the major land owners in the county know the true value of there finished lots in Orange County. At this time $200K-$300k for finished lots with a possible 20% decline in the next 12 months. The default of the two Suncal projects in south will pull finished lot values down futher. In the fullness of time the other major landowners will move there lots at lower market values. Give the market 12-24 and you will begin to see land deals. These large land holders with favorable equity positions still need cash flow for operations.
Capital and investment will return, it always has if there is money to be made.
In the early 1990s, I watched as a number of nice single or small developer lots followed the same pattern. Purchased for $300k in 1988 or 1989. Foreclosed in 1992. New owner paid $80k and revived or initiated new permits. Foreclosed a second time in 1996. Sold for $20k.
Then, sold again in 2003 for $300k, or 2005 for $800k. The people who bought for $800k in 2005 didn’t get permits and houses done fast enough to sell before the bubble burst. If they are still sitting on raw land, they might have gotten $500k in early 2007, probably can’t get $250k now.
The people who paid $300k and actually had a completed house by 2005 or 2006 made out quite well.
Two things that would sell one is decent sized lots in the 8k to 10k sq.ft. range and larger would be a huge improvement over quality of life, driveways that actually could fit your car. A back yard that can fit your pool. There are so many pools in Irvine but they are all community owned I would rather have my own. Riding past many of these empty pools are just a waste of space unless it’s a young neighborhood with lots of children. More HOA money wasted.
Second a way to really sell homes would be Green Homes that involve all the new ways to save the environment. Ironically here in CA we have none. That would get national attention and command a higher price that many would pay especially if you get a decent sized lot for your garden/pool.
I would buy one of these in a minute. Instead of on top of your neighbors, postage sized stamp homes that are extremely overpriced.
I want some TARP, they are giving money away for free…
IR and company, where and how do I get it?
Oh you’ll get plenty of TARP, not to worry. You’re just going to be on the paying end of The Great TARP, not the receiving end.
BTW, my kids want to thank all of you who helped bankrupt the banks and supported the bailout/TARP deals (anyone remember “it’s for Main Street, not Wall Street” – yeah right). The thanks is in the form of them (and me) hoping you eat shit. And that goes for the banks and the corrupt politicos, too.
Especially all the clowns in Orange County. Few times have I seen so many people fully deserving of eating shit.
So, TARP and all bail out are basically punishing the responsible to pay for the irresponsible and the crooks?
Yep. Amazingly, the prudent, the savers, the responsible lenders, and the responsible borrowers are the only ones not getting bailouts. Sadly, they still get to pay for the bailouts through inflation and higher tax burdens.
it’s pretty easy
you just need to be wildly insolvent on top of assets from the wealthy
If you don’t already meet this criteria then you are just the kind of person we are looking for to pay for the TARP. Do you have any kids? Yes?, you say….fantastic we can get them started on a reasonable payment plan today !!!