January 2010
10 posts
Walking Away
When the housing crisis started, I didn’t understand how people could just “walk away” from their mortgages as the price of their homes dropped. It seemed foolish and irresponsible, pushing the losses onto others. I’m strongly of the opinion that a house is not an asset that provides any productive return, so capital gains on the house are simply an illusion. Besides,...
2006 NYT Article On The Housing Market →
Ran across a copy of this article that I had saved back when I read it back in ‘06. Amazing how much has changed since then, but they also did a pretty good job describing what was about to happen. Just that they didn’t think the crash was the likely scenario.
The choice quote comes at the end from the Caldwell Banker CEO:
Moreover, few borrowers are falling behind on their...
Buck up!
Dear Congressman Markey, We all know that the loss of the Senate seat means that the Democrats no longer have a filibuster-proof majority, but the worst thing our party could do is turn on itself and run scared. We still have large majorities in both houses and the White House. This is more than Bush ever had, and despite the fact that he lost the election, he governed like he won by a...
Andrew: I got me an SIU from a Cirrus Turbo!
Me: I got some chocolate covered macadamia nuts.
Andrew: Damn it, that sounds so much cooler
“I’ll see your Tunisians, and raise you to three.”
“I am orange peel. I am coffee grounds. I am wisdom.”
– The all-powerful, all-knowing trash heap, nyeah!