The Bottom Is In

By -
http://online.wsj.com/article/SB122072588739407007.html?mod=hpp_us_whats_news

Complain all like about government intervention. Keep complaining for the next decade, or whenever the next crisis happens. In the meantime, I think I'm going to make some dough on distressed housing.

"Come, Quickly, They're throwing money away."

Comments

  1. Anonymous5:18 PM

    Hi Woody - Do you think this applies nationwide?

    Elen

    ReplyDelete
  2. Woody8:38 PM

    Hiya Elen,

    I'm not sure I'm qualified to answer that. I don't see much reason to take advantage of weakness in Detroit or any of the rust belt. I don't see any reason to get into speculative land in growth areas like Florida. I recently inherited a bunch of speculative land that I'd like to unload.

    Were I to hazzard a guess, I'd say that I think the whoosh down is about over nationally. Heavy distress situations are probably a good buy.

    I'm putting my money where my mouth is. My wife and I were out shopping for distressed properties today. The two properties we really liked had sold faster than MLS could be updated. One house had a hostile foreclosure situation in progress, but I'll check it out tomorrow, I wasn't going to bring my kid in there, and I didn't have any guns with me.

    I don't think our market is going to take off, but the low-hanging fruit will soon disappear.

    I own a partial interest in a house in CT, so I'd like to be bullish. I sold a house in CT in January 2004. I think prices are lower than when I sold, but are they a buy today? I think there's a long-term demographic shift working against the northeast, and I wouldn't be a buyer without some extreme distress.

    There is still an abundance of distress everywhere, but it's not going to last after this deal with Fannie and Freddie.

    ReplyDelete

Post a Comment

Popular posts from this blog

Libertarians, My Libertarians!

By -
Cruel to be kind means that I love you . Because, while I think you are mistaken, your hearts are in the right place -- yes, even you, Silas --  unlike some people . This Breitbart fellow (discussed in the link above), by all appearances, deliberately doctored a video of Shirley Sherrod to make her remarks appear virulently racist, when they had, in fact, the opposite import. I heard that at a recent Austrian conference, some folks were talking about "Callahan's conservative turn." While that description is not entirely inaccurate, I must say that a lot of these people who today call themselves conservative give me the heebie-jeebies.
Read more

"Pre-Galilean" Foolishness

By -
 I am currently reading The Master and His Emissary , which appears to be an excellent book. ("Appears" because I don't know the neuroscience literature well enough to say for sure, yet.) But then on page 186 I find: "Asking cognition, however, to give a perspective on the relationship between cognition and affect is like asking astronomer in the pre-Galilean geocentric world, whether, in his opinion, the sun moves round the earth of the earth around the sun. To ask a question alone would be enough to label one as mad." OK, this is garbage. First of all, it should be pre-Copernican, not pre-Galilean. But much worse is that people have seriously been considering heliocentrism for many centuries before Copernicus. Aristarchus had proposed a heliocentric model in the 4th-century BC. It had generally been considered wrong, but not "mad." (And wrong for scientific reasons: Why, for instance, did we not observe stellar parallax?) And when Copernicus propose...
Read more