Treasuries, Oil Surge May Foreshadow Bond Bear Market (Update1)
Yields on 10-year notes fell as low as 3.79 percent last week, within a third of a percentage point of the consumer price index. Every time inflation has exceeded what investors get paid to own Treasuries, bonds have plunged. That happened from August 1973 through August 1975, when Ford addressed the nation with his ``Whip Inflation Now'' speech, and from January 1979 to October 1980, the end of Jimmy Carter's term.
"The yield on the benchmark 4 1/4 percent note maturing in November 2017 was little changed today at 3.94 percent,"
Tuesday, December 04, 2007
Friday, November 16, 2007
Catching Knife in Sacramento Housing
Here's the potential loss you need to prepare for in order to speculate on Sacramento housing:
**GREAT CHANCE TO OWN A SPACIOUSE DREAM HOME**:
"$749900 **GREAT CHANCE TO OWN A SPACIOUSE DREAM HOME** Reply to: ryanschattner@gmail.com Date: 2007-11-15, 8:46AM PST Here is your chance. Large single story ideal for day to day living or elegant entertaining. Priv. bath for every bedroom. Spacious wet bar with wine cab. that looks into a large living area next to the kitchen. Large yard with plenty of room for pool. Motor court gives access to split 2car gr. *Bank Owned*
http://www.zillow.com/HomeDetails.htm?zprop=63421325
Sold 07/11/2007: $855,000
That means a loss of $100K+ in just 4 months. Assuming a down payment of $170K (I doubt it but just use it for the bottomline), that's 60% loss.
**GREAT CHANCE TO OWN A SPACIOUSE DREAM HOME**:
"$749900 **GREAT CHANCE TO OWN A SPACIOUSE DREAM HOME** Reply to: ryanschattner@gmail.com Date: 2007-11-15, 8:46AM PST Here is your chance. Large single story ideal for day to day living or elegant entertaining. Priv. bath for every bedroom. Spacious wet bar with wine cab. that looks into a large living area next to the kitchen. Large yard with plenty of room for pool. Motor court gives access to split 2car gr. *Bank Owned*
http://www.zillow.com/HomeDetails.htm?zprop=63421325
Sold 07/11/2007: $855,000
That means a loss of $100K+ in just 4 months. Assuming a down payment of $170K (I doubt it but just use it for the bottomline), that's 60% loss.
Tuesday, October 02, 2007
The Alarming Parallels Between 1929 and 2007 | The American Prospect
The Alarming Parallels Between 1929 and 2007 | The American Prospect:
"The most basic and alarming parallel is the creation of asset bubbles, in which the purveyors of securities use very high leverage; the securities are sold to the public or to specialized funds with underlying collateral of uncertain value; and financial middlemen extract exorbitant returns at the expense of the real economy. This was the essence of the abuse of public utilities stock pyramids in the 1920s, where multi-layered holding companies allowed securities to be watered down, to the point where the real collateral was worth just a few cents on the dollar, and returns were diverted from operating companies and ratepayers. This only became exposed when the bubble burst. As Warren Buffett famously put it, you never know who is swimming naked until the tide goes out."
"The most basic and alarming parallel is the creation of asset bubbles, in which the purveyors of securities use very high leverage; the securities are sold to the public or to specialized funds with underlying collateral of uncertain value; and financial middlemen extract exorbitant returns at the expense of the real economy. This was the essence of the abuse of public utilities stock pyramids in the 1920s, where multi-layered holding companies allowed securities to be watered down, to the point where the real collateral was worth just a few cents on the dollar, and returns were diverted from operating companies and ratepayers. This only became exposed when the bubble burst. As Warren Buffett famously put it, you never know who is swimming naked until the tide goes out."
Another FB Seeking Next Fool
Remember I told you that I like to sometimes cross-search on people looking for others to take over their money-sucking auto leases.
Here's another one. Suzy wants rent her Sacramento house (do I hear up-side down?) and at the same time trying to find someone to take over the $1350 per month payment on her 2007 HSE Range Rover.
Sorry but I really have a hard time containing my schadenfreude.
Location, Location, Location.....:
"$2400 / 5br - Location, Location, Location..... Reply to: suzyfrank0307@yahoo.com Date: 2007-10-01, 3:19PM PDT STUNNING LAKE COMMUNITY RENTAL!!!!!!! This beautifully decorated and spacious home features granite countertops and hard wood flooring throughout. It too has an enclosed office with french doors to include a large custom built 2 person desk with lots of cabinets and drawers for storage. This home has 4 (possibly 5) bedrooms/3 full baths, 3 car tandem garage + a huge bonus room that can be an additional master size bedroom or a playroom. This 3 year old home has a 26 jet hot tub, fully landscaped back yard with large trees for privacy, on the green belt, partial lake views, a dog run and is in a very quiet and family friendly neighborhood. Best of all...it is only 15 minutes from Downtown Sacramento, 20 minutes from Davis and 6 minutes to the nearest grocery store. ******Serious candidates only please!***** Lease to buy options are welcomed! Contact Suzy: (916) 214-4632"
2007 HSE Range Rover: "This gorgeous white HSE has only 7,300 miles. Has every ammenity imaginable to include Lo-Jack, dual tv's on the back of driver and passenger seats, 6 disc player, etc. All maintenance is included as well. I am looking for someone to take over the lease. I will forfit my deposit. The monthly payment is $1350 + tax. ******************Serious Applicants only PLEASE!************ Call Suzy (916) 214-4632; suzyfrank0307@yahoo.com"
Here's another one. Suzy wants rent her Sacramento house (do I hear up-side down?) and at the same time trying to find someone to take over the $1350 per month payment on her 2007 HSE Range Rover.
Sorry but I really have a hard time containing my schadenfreude.
Location, Location, Location.....:
"$2400 / 5br - Location, Location, Location..... Reply to: suzyfrank0307@yahoo.com Date: 2007-10-01, 3:19PM PDT STUNNING LAKE COMMUNITY RENTAL!!!!!!! This beautifully decorated and spacious home features granite countertops and hard wood flooring throughout. It too has an enclosed office with french doors to include a large custom built 2 person desk with lots of cabinets and drawers for storage. This home has 4 (possibly 5) bedrooms/3 full baths, 3 car tandem garage + a huge bonus room that can be an additional master size bedroom or a playroom. This 3 year old home has a 26 jet hot tub, fully landscaped back yard with large trees for privacy, on the green belt, partial lake views, a dog run and is in a very quiet and family friendly neighborhood. Best of all...it is only 15 minutes from Downtown Sacramento, 20 minutes from Davis and 6 minutes to the nearest grocery store. ******Serious candidates only please!***** Lease to buy options are welcomed! Contact Suzy: (916) 214-4632"
2007 HSE Range Rover: "This gorgeous white HSE has only 7,300 miles. Has every ammenity imaginable to include Lo-Jack, dual tv's on the back of driver and passenger seats, 6 disc player, etc. All maintenance is included as well. I am looking for someone to take over the lease. I will forfit my deposit. The monthly payment is $1350 + tax. ******************Serious Applicants only PLEASE!************ Call Suzy (916) 214-4632; suzyfrank0307@yahoo.com"
Thursday, September 06, 2007
The Modesto Bee | Housing prices continue to plummet
The Modesto Bee | Housing prices continue to plummet:
"# Stanislaus County homes sold for a median price of $324,500 in July, down $48,750 from last year and down $18,750 from June.
# San Joaquin County homes sold for a median $380,000 in July, down $60,000 from last year and down $16,000 from June.
# Merced County homes sold for a median $316,000 in July, down $53,000 from last year but up $26,000 from June."
"# Stanislaus County homes sold for a median price of $324,500 in July, down $48,750 from last year and down $18,750 from June.
# San Joaquin County homes sold for a median $380,000 in July, down $60,000 from last year and down $16,000 from June.
# Merced County homes sold for a median $316,000 in July, down $53,000 from last year but up $26,000 from June."
Wednesday, June 13, 2007
Short Sale in San Jose Downtown
Found on Craigslist. Asking for $585K. Bought for $640,000 on 03/15/2006.390 Meridian Ave, San Jose, CA 95126 3 beds, 2.5 baths, 1,696 sq ft
$585000 OPEN HOUSE - APPROVED SHORT SALE (san jose downtown)
OPEN HOUSE: Saturday June 16,2007 1-4 p.m.
This great end unit 2level Townhouse is priced 10k under market value. The lender has approved the short sale and is ready to move forward. $2300 Credit for Closing Cost.
Tuesday, June 12, 2007
FBs in Modesto
1198 Crescent Dr, Merced, CA 95348 3 beds, 2.5 baths
Loss: $122K (28%)
1157 Kay Cir, Turlock, CA 95382 4 beds, 3.0 baths, -- sq ft
Short-sale asking for $342,500
03/14/2006: $490,000
Loss:$148K(30%)
| 05/16/2007: | $313,000 |
|---|---|
| 06/28/2006: | $435,000 |
1157 Kay Cir, Turlock, CA 95382 4 beds, 3.0 baths, -- sq ft
Short-sale asking for $342,500
03/14/2006: $490,000
Loss:$148K(30%)
Short Sale in Milpitas
This short-sale is still for sale after 35 days. The specuvestor has lost close to $90K (13%) over 10 months. Nice!!Price: $589,950
215 PARC PLACE DR
Milpitas, CA 95035
Beds: 3 On Redfin: 35 days
Baths: 3 Year Built: 2006
sqft: 1,280 Lot Size: -
$/Sqft: $461 MLS#: 724739
Status: Active on market
Last Sale: $679,500 (08/31/2006)
Monday, June 11, 2007
Townhomes a steal in Fort Myers
Townhomes a steal in Fort Myers | WINK-TV - Fort Myers, FL | Local & Florida:
"Fort Myers - You're not going to believe what some brand new townhomes went for on the auction block Thursday night in Fort Myers, considering where prices have been. A three bedroom townhome previously priced at $310,000 sold for about $180,000! First time home buyer Brandon Quarterman, a student at Florida Gulf Coast University, was the lucky bidder. He said, 'I'm feeling great. more money in my pocket!'"
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