Friday, October 16, 2009

Has Real Estate Hit Its Bottom?


Next question.

While the NAR continues to cheerlead as fools grab the falling knife, foreclosure filings go through the roof. Our President's biggest cheerleader, CNN reports that we have just finished the worst quarter of all time for foreclosures. So while obama has continued to pour millions if not billions of tax dollars down the drain, on trying to raise the Titanic, he can't out run economics. It’s a shame he doesn't have those billions of dollars to spend on one of his other pet projects.

Good money after bad is how I have seen debacles like this described. Unfortunately, this is the worst one of all time. Way to go Barry, you've continued to screw us all and just like I said, there is no way in hell you were ever going to salvage the foreclosure constituency. And now, the price is just that much steeper and we're miles away from market stability.

If you see prices going up, there is a name for what your seeing. Its called a dead cat bounce.

Wednesday, October 07, 2009

Health Care Reform

A friend recently blew out his ACL playing rec league football. Thats what us thirty something year old guys do. He went to the orthopedist on Friday, got his MRI on Monday and has his surgery scheduled for later this week. This story tells the tale of a terribly ill Canadian citizen who is going to have to wait more than 6 months for an MRI. And of course, like any person who feels spited by obama, my friend bitched and lamented that were he living in an obama care world, he wouldn't be receiving treatment so quickly.

And then it dawned on me, obamacare is going at the problem the wrong way. Our President has no idea how to tackle the problem. He has no qualms going after Wall Street bankers salaries, yet he will not go after the costs of health care. My dad had a bypass a few years back. In the backwater he lived in, the whole procedure took 12 hours and cost less than $8000. I broke my wrist and required a screw to repair it. The procedure took just over an hour and cost just over $7000. It seems to me, a little tort reform and some forced socialism, like he's pushed it on the auto industry would really rectify the problem without sticking everyone who has worked hard to have good benifits. Why not treat doctors like bankers or other responsible citizens who are taking it in the back pocket every time obama finds another constituancy to play robin hood with.

I feel like a kulak.