Mark, sorry man, but it’s pathetic. You keep moving around and now on your new site mhanson.com, you come across as whining and making excuses for being outright wrong the past 9 months, and worst of all, you disabled comments. Imagine that, a blog without comments. Hmmmm
As I had mentioned previously, it is pointless analysing data in detail. Look at the BIG picture. Feds have a big magic wand and they intend to stabalize the housing market. The have the cash (as long as China still buys their debt), they have the regulations on their side and they control or have great influence in the top banks.
Heck they could directly or indirectly throw $2 Trillion (or even $4 Trillion) into the housing market. Yes it is all demand and supply but if you create a $2 Trillion demand for housing would that not be enough?
Mark has been using ordinary metrics in an extraordinary situation which is why his predictions are off.
If you believe in herd mentality then data points are useless.
I say if you bought at the peak..and lost your home..you get assistance with 100K down payment.. must leave in the home for 5 years..own it for 10..otherwise pay back the 100K.. Divide your 2 (or 4) trillion…by 100,0000… that would be 1-2 million homes
While MM has 7 other ideas for mid-to-high end can go…I too agree with nr 7:
prices fall in line with the most readily available financing ($417k and below) and to levels at which the majority can afford (and at which they are buying right now).
I want to add though.. that while mid-to-high goes lower.. so will the low to mid ..even further!
Firstly, avg housing price in US is about $280K. So in some instances you do not need $100K. That is why the $8K tax credit is an enticement. $8K is peanuts for a guy buying a home in Ca for $800K but for a $200K condo elsewhere that is almost 5% of the 20% deposit.
Now it is not just the $2Trillion or $4Trillion. They can “guarantee” loans in the case of default another $X Trillions. A lot of these “guarantees” do not even appear on Balance sheet of our government.
Finally, if they selectively prop up 2 million home, together with moratorium they can pretty much put a firm floor to housing prices.
There are lots of buyers and one would be a buyer if:
1) They can afford it. Job losses have stabalized and those still with jobs are now more confident they will not be laid off. Prices have also come down quite a bit making homes affordable.
2) They are confident that prices will not drop further
3) It makes economic sense in terms of the tax deductions for owning a home vs renting. Not to mention that many would prefer to own their own homes.
Right now for many, they have 1 and 3 and they are just waiting for 2.
As it is, most are on this blog site because they are hoping for a good time to buy. They are waiting for condition 2 to apply.
When they sense the bottom has been reached the herd will rush in.
This blog is dead… and the new one ..well it’s not a blog anymore
And to respond your last items:
There are (NOT) lots of buyers because:
1) They can NOT afford it. Job losses have NOT stabalized and those still with jobs are now LESS confident they will not be laid off. Prices have also come down quite a bit making homes affordable BUT we’re not there yet (WE’RE GOING BACK TO PAYING A MORTGAGE WITH 1 INCOME PER FAMILY
2) They are confident that prices will drop further
3) It makes NOT economic sense in terms of the tax deductions for owning a home vs renting. Not to mention ADDITIONAL COSTS, insurance, maintenance, and flexibility that many would prefer to move when need to.. and could not be sell it for years!
Right now for many, they have NONE and buyers from the peak that lost ..and they’re not back in the market yet… many more to still loose their home..and many (boomers) to retire soon..
btw, you must not have read the article… 8K is not really helping homes over 417K
WHERE IS MY 100k HELP? i MAKE 100k..0 DEBT and REBUILT CREDIT ..700 FICO.. i LIVE IN SO CALIFORNIA..AND lost my previous home!! huh???????? I’m sure you’ll find many more in my situation… we’ll go buy above 417K!!!!!!!!
either way, I’m not sure DEPRESSION HAS BEEN AVERTED… or can… when when it’s abvious we’re there… housing is the last thing on our mind!!!!(AND THE CHEAPEST.. try single digit out of an income!)
..FDIC running short..wants to borrow from banks? (which the insure..what an endless loop)
..FHA running short (the new subprime… which I’ve mentioned before)
..Contruction loans…well you know the story..
..Option ARMs.. default in high numbers before RECAST..
..SHADOW inventory..70% of foreclosures…
..BOOMERS retiring..
..Unemployment going higher..
..BANKS DON’T LOAN..
..no activity for homes above 417K..
..consumer has stoped consuming, borrowing..
I can go on and on… you STILL think it’s bottom? GET READY FOR CLIFF JUMPING #2
“Wonton said…Mark, sorry man, but it’s pathetic. You keep moving around and now on your new site mhanson.com, you come across as whining and making excuses for being outright wrong the past 9 months, and worst of all, you disabled comments. Imagine that, a blog without comments. Hmmmm”
No kidding Wonton. The last straw was when case shiller started going up – first time in 3+ years. At that point, he got desparate and started criticizing the methodology (funny how he never criticized it when it was going down). That for many was the last straw.
Notice too how I called him out on his youtube posting? If you recall, he once had a video he called “the quickening” where he breathlessly described the systematic dumping of assets, set to begin in late 2008.
Yet when you go to youtube, why, whats this? The quickening video has disappeared! Its funny, his 7 other videos (where he doesnt make specific predictions – just generalities) are still there. Yet the one video where he makes specific predictions, (which were spectacularly wrong) he just pulls the plug?
ISP,Wonton,tomh …….keep talking ! it’s comical ! MARK IS FAR MORE KNOWLEDGEABLE THAN YOU THREE PUT TOGETHER !!!! OH YES , SO AM I ! AND AS THE ex_owner_now_renter Says: Bottom is spring 2012 ! (AT THE EARLIEST)!
“ISP,Wonton,tomh …….keep talking ! it’s comical ! MARK IS FAR MORE KNOWLEDGEABLE THAN YOU THREE PUT TOGETHER !!!! OH YES , SO AM I !”
Yeah Jim, sure Jim, whatever Jim!!! I guess that’s why Mark has been in hiding the last few months, and bank stocks are tripled or quadrupled since the beginning of the year.
You gotta take off them rose tinted shades and continue looking at the BIG PICTURE ! IT’S THAT EASY ! I here what your saying but this isn’t over yet ! the government is screwing everything up !they need to back off and let this recession do its thing so life can go on !it will have to get worse before it gets better ! but they are not ! they are only prolonging the inevitable !MARK HAS NAILED MOST EVERYTHING ON THE HEAD !HE CANT PREDICT THE THE STUPIDITY OF BERNANKE AND OF THE OBAMA ADMINISTRATION !ONE THING I DO KNOW IS THAT WE WILL HAVE HELL TO PAY IN THE NEXT FEW YEARS IF THINGS DONT CHANGE QUIKLY ! ACTUALLY I THINK IT’S TO LATE . BUT WHO AM I TO SAY .IM REALLY DONE TRYING TO EXPLAIN MY REASONING . PEOPLE SAY IM JUST TO NEGATIVE . I SAY IM JUST A REALISTS WITH A THEORY THAT HAS JUST HAPPENED TO GET THIS WHOLE MESS RIGHT, FROM THE VERY BEGINNING !
I too have been following Mark for some time, so I am also frustrated about the way his blog flits from site to site. It’s really hard to keep up with the current location. OTOH, in Mark’s defense, my personal opinion tends to agree with him. Mark spends a lot of time culling through raw data and breaks it down in a logical manner. The MSM (fed by the pols) is way off the target. I believe that the markets are propped up to benefit the banks. I furthermore believe that this is a concerted conspiracy to prop up the financial markets to prevent a meltdown and ensuing revolution. You who think that bank stocks present a great investment (wonton), keep buying them and profiting. I for one see a collapse in the future. But I digress. My point is that I think that Mark Hanson has very detailed and insightful analysis, and will continue to follow his postings with interest, whether or not his predictions play out along a given timeline.
Mark, from a grateful reader, keep up the good work.
Jim – answer me this (post #16) why did he remove his “the quickening” video? Why that video (where he made a specific prediction that failed) but no other videos?
Hey MM! When r u going to lay off the principal balance reductions issue?????????
A lot of people bought many cars, vacations, etc, etc… with refi money! and now you want to reduce it????
WHAT ABOUT PEOPLE THAT LOST THEIR PRIMARY HOME ALREADY? They lost the home, credit, down payment… where is their help? like 100K to buy another home… STOP BEING ONE SIDED… and stick to your analysis, not try to make it worse! there are un intended consequences… TRY PISSING OFF PEOPLE LIKE ME… AND I’LL NEVER BUY AGAIN… or people that paid CASH…OR PEOPLE THAT ARE MAKING PAYMENTS…. STOP THE CIRCUS MARK!
To learn more about getting hot mortgage lead transfers and how our services can help your business grow, call 313-778-1493. Have a great day.
Live Mortgage Leads 4 U Company provides Exclusive Hot Live Mortgage Leads TransfersLA, California; Chicago, Illinois; New York, NY; Houston, Texas; and other cities and states.
mhanson.com has been hacked. Depending on the browser or computer, I either get an “Access Forbidden” message or a message identifying the site as an “Attack Site”.
BTW, I like Mark’s information and analysis. It’s stuff you can’t find anywhere else. Unfortunately, Mark is having the same problems that those of us in the stock market have. The fundamentals keep pointing down but government intervention keeps everything going up. The disconnect will have to be resolved sometime. It’s a matter of how long can they keep kicking the can down the road. I know EX_OWNER_NOW_RENTER doesn’t like to hear about principal reduction but that is one of the ways to get the fundamentals in housing values resolved. But as he pointed out, it has a lot of side effects. Him being pissed off is the least of anyone’s worries. The writing down the value of all the mortgaged backed securities out there will be the real disaster.
MH,
may have disappeared but i havent and i will say what i said 2 years ago PRINCIPAL REDUCTIONS ARE THE ONLY ANSWER TO THIS DISASTER….and that would PR for everyone with a mortgage, to avoid moral hazard of helping some and not others..mortgages that are current, delinquent, equity, underwater, adjustable, fixed, etc…it would be based on some set formula and maybe this weakling in the white house will finally MANDATE it
i dont know how MH just disappeared when he had saw a large audience and the CRISIS just keeps getting worse by the month…..that i find even stranger the obama not helping the homeowner after one year of talk, lies and NO results…..MH you need to get back in the saddle and make your case , you eventually be proved correct !!!
Same as most of the other INFORMATIVE housing blogger s, they got legal, political warnings from the powers who don’t what the truth out there. Don’t you see the free speech stating to be crushed by the new aged USA socialists.
You know whats funny, go back and look at the comments of “ex owner now renter” and a few others who were convinced that prices were going down down down. All the while home prices (via case shiller) have been going up since mid 2009
I love looking at these doomer calls and laugh and laugh and laugh.
Tony – First, lets check your math skills by looking at Case Shiller. The Case Shiller 10 city index hit 150.44 last year. It is at 156.82 today. In comparison to the 150.44 number hit last year, is todays number
(a) down
(b) up (hint, this is the answer)
Good luck Tony, lets see how you do.
Also, as an aside, I love how you say we “have a long way to go down”, as if its some virtual certainty. Really? You sure about that Tony?
Since you are so confident, why dont you tell us what the CS 10 will be at when we finally have hit bottom. What constitutes “a long way down” to you? 120? 110? 100? Since you are so sure, put your prediction in writing (and give a timeline as to when this will happen) so I can take the over, and laugh at you in the months to come when that doesnt happen.
So whats it gonna be Tony? Are you gonna give your prediction, or are you gonna slink away quietly as if you never read this post? Im sure you are reading this now, embarassed, and even angry that I am calling you out. Can you quantify what it means to say “we have a long way down”, or will you do what I suspect and either answer in some tangential, nondescript way, or slink away quietly and fail to respond?
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SCARE 20.12.2012
(Stop Corruption And Repression Effective 20.12.2012)
Banks were given a very important privilege to create money in the form of extending credit. This function requires diligence and careful consideration in regard to individual credit risks as well as to overall credit levels in the system. The financial crisis revealed that the banks were operating at too high a leverage and with too much risk. They were used to be saved by the Central Banks and certain that in times of difficulties the Central Banks were there to save them. They were like trained dogs and their master Greenspan or Bernanke would always be there to rescue them when unforeseen difficulties arose.
That may be true but that does not absolve them from their obligation to monitor overall debt levels in the system as well as being diligent in evaluating the debtors ability to not only service a debt but to be able to repay it over time. The banks clearly failed in this function that is the core function of banking but focused mainly on their compensation packages. The way these bankers enriched themselves in the process of driving the financial system into a wall was appalling and the average income earner was never able to comprehend their schemes but preferred to simply ignore them. Of course, the bankers explained their outrages income levels with free market principles of supply and demand, where the best simply could be hired with those kinds of benefits only. In hindsight those superior managers seem to have missed their mark considerably. The most interesting aspect of all of this is the fact that, after we have been more than 3 years in this financial crisis, the bankers continue to loot the system as if nothing ever happened.
True to form the Central Banks “saved” the financial system by saving those great financial institutions without whom the system would have collapsed, as was argued. Hardly were we out of the danger of collapse, the banks immediately went back to their old ways and were certain that this was a problem that would occur just once in a lifetime and now all was clear again. The real problem, however, had not been addressed but had simply been muddied.
In actuality, the losses produced of extending unsustainable levels of credit by the banks have been transferred to the public. Different ways were chosen to achieve this task in the form of free money for the banks, injection of government funds into some institutions, increase of basic money supply and so on.
The threat of system collapse would have been labelled blackmail if it would have occurred in another setting. However the bankers were able to influence the media, the legislators and regulators in their favour with all the financial resources available to them. Nobody was made to take any responsibility and no one was taken to account.
This represents a serious violation of the spirit of the Rule of Law that is the basis of western society. It seems that now the new rule is Might is Right. This changes many parameters in the compass of the social system within the western world. No one can be sure on what level and when one will be subjected to the financial abuse of those elites. Presently, the people in charge are trying to enhance financial repression of which one form is to keep interest rates below the level of inflation which affects mainly those that lived within their means over the past many years; another clear violation of the spirit of the Rule of Law as it transfers losses from bad investments to the innocent and decent part of the population. In addition, the increased level of government debt puts in doubt all those benefits promised by governments the world over.
It is interesting how the banks were able to confuse the public who was/is unable to grasp the actual situation. But considering the banker’s great financial resources, it seems not that much of a miracle to influence the media and the legislator and having politicians do their bidding. The question is what the heck can WE, THE PEOPLE do about it.
Usually, we could address such things on a political level as we are a democracy, right? But it seems that the system has been corrupted by all the money sloshing around and it is extremely difficult to find any electable person that will act against those powerful interests. In addition, it will take many years until sufficient numbers of persons with the new thinking and with integrity not to be corrupted by those lobbying efforts will be elected to office that will implement the changes needed. So, what should we do? Start a revolution?
Well, the blackmail used by the banks may be the only way to address the injustices that have occurred over the past few years. They showed us how to leverage one’s limited resources to achieve one’s goal. Therefore the following proposal to start the movement “SCARE 20.12.2012” should be seen in this context. The idea is that if by that time (20.12.2012) some serious injustices have not been removed from the system, people will start to withdraw their money from all financial institutions driving them into default. And it might work, because those who hesitate to support this threat may be left with no money as the banks will have to close down before all has been paid out.
Now, what demands are made if that scenario is to be avoided.
1. Bankers and past Bankers (all those working in the financial industry that earned in excess of $500k plus annually for more than 2 years during the past 15 years and this without any downside risk i.e. risk of financial losses, except the possibility of losing their job) have to be made personally accountable for their past activities and be removed from any such position that might directly or indirectly have influence on the money creation and lending aspects of the economy (this includes regulating agencies and politics) before 20.12.2012.
2. Present and past regulators have to be made personally accountable for their past activities and be removed from any such position that might directly or indirectly have influence on the money creation and lending aspects of the economy (this includes financial institutions and politics) before 20.12.2012.
3. Politicians that accept any financial support from institutions that are involved in the money creation and lending aspects of the economy will have to face a jail term of no less than 2 years without the possibility of parole.
When these 3 points are implemented before 20.12.2012, we the public will not destroy the financial system but support the way to find back to the RULE OF LAW and away from the idea of MIGHT IS RIGHT.
Bianca Norris
I’m a home owner of 13years and when I bought my home the rates were at an all time low. Now our economy has changed so much things are scarey out there. People that want to buy need to know the pro’s and con’s of the rates on what’s good and what’s not. Getting with and advisor who deals with mortgage’s can help! With the knowledge of a person who douse this for a living they can guid you properly through the loops. I had a mortgage advisor when I started to think about buying a home and it helped me.
I’m only 15, but i’m trying to raise money to go on a expensive trip next year. I am planning on getting a summer job, but it usually only pays minimum wage. I just want other people’s opinions on whether its safe and a good idea to become a blogger to get money. thanks!.
August 27th, 2009 at 8:12 pm
Can people blog anymore on your new site? Appears not…
August 27th, 2009 at 8:14 pm
I mean add comments
September 9th, 2009 at 11:42 am
ex-owner, Mark keeps moving his blog to shake you. That’s why comments are disabled.
September 9th, 2009 at 6:31 pm
Benzy…I wouldn’t doubt it!
September 15th, 2009 at 10:41 pm
Mark, sorry man, but it’s pathetic. You keep moving around and now on your new site mhanson.com, you come across as whining and making excuses for being outright wrong the past 9 months, and worst of all, you disabled comments. Imagine that, a blog without comments. Hmmmm
September 17th, 2009 at 10:14 am
As I had mentioned previously, it is pointless analysing data in detail. Look at the BIG picture. Feds have a big magic wand and they intend to stabalize the housing market. The have the cash (as long as China still buys their debt), they have the regulations on their side and they control or have great influence in the top banks.
Heck they could directly or indirectly throw $2 Trillion (or even $4 Trillion) into the housing market. Yes it is all demand and supply but if you create a $2 Trillion demand for housing would that not be enough?
Mark has been using ordinary metrics in an extraordinary situation which is why his predictions are off.
If you believe in herd mentality then data points are useless.
September 17th, 2009 at 5:12 pm
I guess we could keeping adding comments here…
September 17th, 2009 at 5:20 pm
I say if you bought at the peak..and lost your home..you get assistance with 100K down payment.. must leave in the home for 5 years..own it for 10..otherwise pay back the 100K.. Divide your 2 (or 4) trillion…by 100,0000… that would be 1-2 million homes
tomh..you think that’s enough?
September 18th, 2009 at 2:38 pm
9-17 Ominous Mid-to-High End Housing Data Point
While MM has 7 other ideas for mid-to-high end can go…I too agree with nr 7:
prices fall in line with the most readily available financing ($417k and below) and to levels at which the majority can afford (and at which they are buying right now).
I want to add though.. that while mid-to-high goes lower.. so will the low to mid ..even further!
September 22nd, 2009 at 12:09 pm
Firstly, avg housing price in US is about $280K. So in some instances you do not need $100K. That is why the $8K tax credit is an enticement. $8K is peanuts for a guy buying a home in Ca for $800K but for a $200K condo elsewhere that is almost 5% of the 20% deposit.
Now it is not just the $2Trillion or $4Trillion. They can “guarantee” loans in the case of default another $X Trillions. A lot of these “guarantees” do not even appear on Balance sheet of our government.
Finally, if they selectively prop up 2 million home, together with moratorium they can pretty much put a firm floor to housing prices.
There are lots of buyers and one would be a buyer if:
1) They can afford it. Job losses have stabalized and those still with jobs are now more confident they will not be laid off. Prices have also come down quite a bit making homes affordable.
2) They are confident that prices will not drop further
3) It makes economic sense in terms of the tax deductions for owning a home vs renting. Not to mention that many would prefer to own their own homes.
Right now for many, they have 1 and 3 and they are just waiting for 2.
As it is, most are on this blog site because they are hoping for a good time to buy. They are waiting for condition 2 to apply.
When they sense the bottom has been reached the herd will rush in.
September 23rd, 2009 at 6:28 am
This blog is dead… and the new one ..well it’s not a blog anymore
And to respond your last items:
There are (NOT) lots of buyers because:
1) They can NOT afford it. Job losses have NOT stabalized and those still with jobs are now LESS confident they will not be laid off. Prices have also come down quite a bit making homes affordable BUT we’re not there yet (WE’RE GOING BACK TO PAYING A MORTGAGE WITH 1 INCOME PER FAMILY
2) They are confident that prices will drop further
3) It makes NOT economic sense in terms of the tax deductions for owning a home vs renting. Not to mention ADDITIONAL COSTS, insurance, maintenance, and flexibility that many would prefer to move when need to.. and could not be sell it for years!
Right now for many, they have NONE and buyers from the peak that lost ..and they’re not back in the market yet… many more to still loose their home..and many (boomers) to retire soon..
btw, you must not have read the article… 8K is not really helping homes over 417K
WHERE IS MY 100k HELP? i MAKE 100k..0 DEBT and REBUILT CREDIT ..700 FICO.. i LIVE IN SO CALIFORNIA..AND lost my previous home!! huh???????? I’m sure you’ll find many more in my situation… we’ll go buy above 417K!!!!!!!!
either way, I’m not sure DEPRESSION HAS BEEN AVERTED… or can… when when it’s abvious we’re there… housing is the last thing on our mind!!!!(AND THE CHEAPEST.. try single digit out of an income!)
September 23rd, 2009 at 6:31 am
btw….CASH FROM FEDS TO BANKS…ARE FOR RESERVES..NOT LENDING… it’s not making it the MAIN STREET… NO LOANS!
=>
D E F L A T I O N
September 23rd, 2009 at 6:44 am
..FDIC running short..wants to borrow from banks? (which the insure..what an endless loop)
..FHA running short (the new subprime… which I’ve mentioned before)
..Contruction loans…well you know the story..
..Option ARMs.. default in high numbers before RECAST..
..SHADOW inventory..70% of foreclosures…
..BOOMERS retiring..
..Unemployment going higher..
..BANKS DON’T LOAN..
..no activity for homes above 417K..
..consumer has stoped consuming, borrowing..
I can go on and on… you STILL think it’s bottom? GET READY FOR CLIFF JUMPING #2
September 23rd, 2009 at 6:47 am
sorry about my typos
September 24th, 2009 at 2:38 pm
“Wonton said…Mark, sorry man, but it’s pathetic. You keep moving around and now on your new site mhanson.com, you come across as whining and making excuses for being outright wrong the past 9 months, and worst of all, you disabled comments. Imagine that, a blog without comments. Hmmmm”
No kidding Wonton. The last straw was when case shiller started going up – first time in 3+ years. At that point, he got desparate and started criticizing the methodology (funny how he never criticized it when it was going down). That for many was the last straw.
Notice too how I called him out on his youtube posting? If you recall, he once had a video he called “the quickening” where he breathlessly described the systematic dumping of assets, set to begin in late 2008.
Yet when you go to youtube, why, whats this? The quickening video has disappeared! Its funny, his 7 other videos (where he doesnt make specific predictions – just generalities) are still there. Yet the one video where he makes specific predictions, (which were spectacularly wrong) he just pulls the plug?
How pathetic!
September 27th, 2009 at 12:29 pm
ISP, Wonton, tomh
Bottom is spring 2012 !
(at the earliest)
October 5th, 2009 at 9:13 pm
ISP,Wonton,tomh …….keep talking ! it’s comical ! MARK IS FAR MORE KNOWLEDGEABLE THAN YOU THREE PUT TOGETHER !!!! OH YES , SO AM I ! AND AS THE ex_owner_now_renter Says: Bottom is spring 2012 ! (AT THE EARLIEST)!
October 9th, 2009 at 9:31 pm
“ISP,Wonton,tomh …….keep talking ! it’s comical ! MARK IS FAR MORE KNOWLEDGEABLE THAN YOU THREE PUT TOGETHER !!!! OH YES , SO AM I !”
Yeah Jim, sure Jim, whatever Jim!!! I guess that’s why Mark has been in hiding the last few months, and bank stocks are tripled or quadrupled since the beginning of the year.
October 10th, 2009 at 10:00 pm
You gotta take off them rose tinted shades and continue looking at the BIG PICTURE ! IT’S THAT EASY ! I here what your saying but this isn’t over yet ! the government is screwing everything up !they need to back off and let this recession do its thing so life can go on !it will have to get worse before it gets better ! but they are not ! they are only prolonging the inevitable !MARK HAS NAILED MOST EVERYTHING ON THE HEAD !HE CANT PREDICT THE THE STUPIDITY OF BERNANKE AND OF THE OBAMA ADMINISTRATION !ONE THING I DO KNOW IS THAT WE WILL HAVE HELL TO PAY IN THE NEXT FEW YEARS IF THINGS DONT CHANGE QUIKLY ! ACTUALLY I THINK IT’S TO LATE . BUT WHO AM I TO SAY .IM REALLY DONE TRYING TO EXPLAIN MY REASONING . PEOPLE SAY IM JUST TO NEGATIVE . I SAY IM JUST A REALISTS WITH A THEORY THAT HAS JUST HAPPENED TO GET THIS WHOLE MESS RIGHT, FROM THE VERY BEGINNING !
October 11th, 2009 at 5:24 pm
I too have been following Mark for some time, so I am also frustrated about the way his blog flits from site to site. It’s really hard to keep up with the current location. OTOH, in Mark’s defense, my personal opinion tends to agree with him. Mark spends a lot of time culling through raw data and breaks it down in a logical manner. The MSM (fed by the pols) is way off the target. I believe that the markets are propped up to benefit the banks. I furthermore believe that this is a concerted conspiracy to prop up the financial markets to prevent a meltdown and ensuing revolution. You who think that bank stocks present a great investment (wonton), keep buying them and profiting. I for one see a collapse in the future. But I digress. My point is that I think that Mark Hanson has very detailed and insightful analysis, and will continue to follow his postings with interest, whether or not his predictions play out along a given timeline.
Mark, from a grateful reader, keep up the good work.
October 19th, 2009 at 8:16 am
Jim – answer me this (post #16) why did he remove his “the quickening” video? Why that video (where he made a specific prediction that failed) but no other videos?
December 7th, 2009 at 7:53 am
Hey MM! When r u going to lay off the principal balance reductions issue?????????
A lot of people bought many cars, vacations, etc, etc… with refi money! and now you want to reduce it????
WHAT ABOUT PEOPLE THAT LOST THEIR PRIMARY HOME ALREADY? They lost the home, credit, down payment… where is their help? like 100K to buy another home… STOP BEING ONE SIDED… and stick to your analysis, not try to make it worse! there are un intended consequences… TRY PISSING OFF PEOPLE LIKE ME… AND I’LL NEVER BUY AGAIN… or people that paid CASH…OR PEOPLE THAT ARE MAKING PAYMENTS…. STOP THE CIRCUS MARK!
December 7th, 2009 at 7:54 am
NO WONDER YOU STOPED THE COMMENTS ON THE NEW SITE!…
December 14th, 2009 at 10:58 pm
To learn more about getting hot mortgage lead transfers and how our services can help your business grow, call 313-778-1493. Have a great day.
Live Mortgage Leads 4 U Company provides Exclusive Hot Live Mortgage Leads TransfersLA, California; Chicago, Illinois; New York, NY; Houston, Texas; and other cities and states.
January 2nd, 2010 at 10:54 am
Anyone know if Mr. Mortgage is ever going to allow comments again?
January 13th, 2010 at 11:04 pm
mhanson.com has been hacked. Depending on the browser or computer, I either get an “Access Forbidden” message or a message identifying the site as an “Attack Site”.
I wonder where Mark went.
January 14th, 2010 at 10:30 am
Perhaps his predictions are wrong again and he was to remove evidence before start another new site
January 18th, 2010 at 1:57 pm
mhanson.com appears to be back up again.
BTW, I like Mark’s information and analysis. It’s stuff you can’t find anywhere else. Unfortunately, Mark is having the same problems that those of us in the stock market have. The fundamentals keep pointing down but government intervention keeps everything going up. The disconnect will have to be resolved sometime. It’s a matter of how long can they keep kicking the can down the road. I know EX_OWNER_NOW_RENTER doesn’t like to hear about principal reduction but that is one of the ways to get the fundamentals in housing values resolved. But as he pointed out, it has a lot of side effects. Him being pissed off is the least of anyone’s worries. The writing down the value of all the mortgaged backed securities out there will be the real disaster.
January 23rd, 2010 at 8:28 am
MH,
may have disappeared but i havent and i will say what i said 2 years ago PRINCIPAL REDUCTIONS ARE THE ONLY ANSWER TO THIS DISASTER….and that would PR for everyone with a mortgage, to avoid moral hazard of helping some and not others..mortgages that are current, delinquent, equity, underwater, adjustable, fixed, etc…it would be based on some set formula and maybe this weakling in the white house will finally MANDATE it
i dont know how MH just disappeared when he had saw a large audience and the CRISIS just keeps getting worse by the month…..that i find even stranger the obama not helping the homeowner after one year of talk, lies and NO results…..MH you need to get back in the saddle and make your case , you eventually be proved correct !!!
January 24th, 2010 at 11:30 pm
Javagold…I thought by now you’ve made your own bailout!! I guess not…
March 1st, 2010 at 3:08 pm
Wonder what happened to ole Mr. Mortgage
March 22nd, 2010 at 10:03 pm
Same as most of the other INFORMATIVE housing blogger s, they got legal, political warnings from the powers who don’t what the truth out there. Don’t you see the free speech stating to be crushed by the new aged USA socialists.
April 5th, 2010 at 1:37 pm
You know whats funny, go back and look at the comments of “ex owner now renter” and a few others who were convinced that prices were going down down down. All the while home prices (via case shiller) have been going up since mid 2009
I love looking at these doomer calls and laugh and laugh and laugh.
April 15th, 2010 at 9:29 pm
HASAWAKANO ether your smoking crack or our just a poor Realtor , are you kidding us. UP? we have a long way to go down.
April 28th, 2010 at 12:33 pm
Tony – First, lets check your math skills by looking at Case Shiller. The Case Shiller 10 city index hit 150.44 last year. It is at 156.82 today. In comparison to the 150.44 number hit last year, is todays number
(a) down
(b) up (hint, this is the answer)
Good luck Tony, lets see how you do.
Also, as an aside, I love how you say we “have a long way to go down”, as if its some virtual certainty. Really? You sure about that Tony?
Since you are so confident, why dont you tell us what the CS 10 will be at when we finally have hit bottom. What constitutes “a long way down” to you? 120? 110? 100? Since you are so sure, put your prediction in writing (and give a timeline as to when this will happen) so I can take the over, and laugh at you in the months to come when that doesnt happen.
So whats it gonna be Tony? Are you gonna give your prediction, or are you gonna slink away quietly as if you never read this post? Im sure you are reading this now, embarassed, and even angry that I am calling you out. Can you quantify what it means to say “we have a long way down”, or will you do what I suspect and either answer in some tangential, nondescript way, or slink away quietly and fail to respond?
I guess we shall see.
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October 16th, 2011 at 3:34 am
SCARE 20.12.2012
(Stop Corruption And Repression Effective 20.12.2012)
Banks were given a very important privilege to create money in the form of extending credit. This function requires diligence and careful consideration in regard to individual credit risks as well as to overall credit levels in the system. The financial crisis revealed that the banks were operating at too high a leverage and with too much risk. They were used to be saved by the Central Banks and certain that in times of difficulties the Central Banks were there to save them. They were like trained dogs and their master Greenspan or Bernanke would always be there to rescue them when unforeseen difficulties arose.
That may be true but that does not absolve them from their obligation to monitor overall debt levels in the system as well as being diligent in evaluating the debtors ability to not only service a debt but to be able to repay it over time. The banks clearly failed in this function that is the core function of banking but focused mainly on their compensation packages. The way these bankers enriched themselves in the process of driving the financial system into a wall was appalling and the average income earner was never able to comprehend their schemes but preferred to simply ignore them. Of course, the bankers explained their outrages income levels with free market principles of supply and demand, where the best simply could be hired with those kinds of benefits only. In hindsight those superior managers seem to have missed their mark considerably. The most interesting aspect of all of this is the fact that, after we have been more than 3 years in this financial crisis, the bankers continue to loot the system as if nothing ever happened.
True to form the Central Banks “saved” the financial system by saving those great financial institutions without whom the system would have collapsed, as was argued. Hardly were we out of the danger of collapse, the banks immediately went back to their old ways and were certain that this was a problem that would occur just once in a lifetime and now all was clear again. The real problem, however, had not been addressed but had simply been muddied.
In actuality, the losses produced of extending unsustainable levels of credit by the banks have been transferred to the public. Different ways were chosen to achieve this task in the form of free money for the banks, injection of government funds into some institutions, increase of basic money supply and so on.
The threat of system collapse would have been labelled blackmail if it would have occurred in another setting. However the bankers were able to influence the media, the legislators and regulators in their favour with all the financial resources available to them. Nobody was made to take any responsibility and no one was taken to account.
This represents a serious violation of the spirit of the Rule of Law that is the basis of western society. It seems that now the new rule is Might is Right. This changes many parameters in the compass of the social system within the western world. No one can be sure on what level and when one will be subjected to the financial abuse of those elites. Presently, the people in charge are trying to enhance financial repression of which one form is to keep interest rates below the level of inflation which affects mainly those that lived within their means over the past many years; another clear violation of the spirit of the Rule of Law as it transfers losses from bad investments to the innocent and decent part of the population. In addition, the increased level of government debt puts in doubt all those benefits promised by governments the world over.
It is interesting how the banks were able to confuse the public who was/is unable to grasp the actual situation. But considering the banker’s great financial resources, it seems not that much of a miracle to influence the media and the legislator and having politicians do their bidding. The question is what the heck can WE, THE PEOPLE do about it.
Usually, we could address such things on a political level as we are a democracy, right? But it seems that the system has been corrupted by all the money sloshing around and it is extremely difficult to find any electable person that will act against those powerful interests. In addition, it will take many years until sufficient numbers of persons with the new thinking and with integrity not to be corrupted by those lobbying efforts will be elected to office that will implement the changes needed. So, what should we do? Start a revolution?
Well, the blackmail used by the banks may be the only way to address the injustices that have occurred over the past few years. They showed us how to leverage one’s limited resources to achieve one’s goal. Therefore the following proposal to start the movement “SCARE 20.12.2012” should be seen in this context. The idea is that if by that time (20.12.2012) some serious injustices have not been removed from the system, people will start to withdraw their money from all financial institutions driving them into default. And it might work, because those who hesitate to support this threat may be left with no money as the banks will have to close down before all has been paid out.
Now, what demands are made if that scenario is to be avoided.
1. Bankers and past Bankers (all those working in the financial industry that earned in excess of $500k plus annually for more than 2 years during the past 15 years and this without any downside risk i.e. risk of financial losses, except the possibility of losing their job) have to be made personally accountable for their past activities and be removed from any such position that might directly or indirectly have influence on the money creation and lending aspects of the economy (this includes regulating agencies and politics) before 20.12.2012.
2. Present and past regulators have to be made personally accountable for their past activities and be removed from any such position that might directly or indirectly have influence on the money creation and lending aspects of the economy (this includes financial institutions and politics) before 20.12.2012.
3. Politicians that accept any financial support from institutions that are involved in the money creation and lending aspects of the economy will have to face a jail term of no less than 2 years without the possibility of parole.
When these 3 points are implemented before 20.12.2012, we the public will not destroy the financial system but support the way to find back to the RULE OF LAW and away from the idea of MIGHT IS RIGHT.
October 20th, 2011 at 11:14 am
Bianca Norris
I’m a home owner of 13years and when I bought my home the rates were at an all time low. Now our economy has changed so much things are scarey out there. People that want to buy need to know the pro’s and con’s of the rates on what’s good and what’s not. Getting with and advisor who deals with mortgage’s can help! With the knowledge of a person who douse this for a living they can guid you properly through the loops. I had a mortgage advisor when I started to think about buying a home and it helped me.
November 7th, 2011 at 5:23 am
I’m only 15, but i’m trying to raise money to go on a expensive trip next year. I am planning on getting a summer job, but it usually only pays minimum wage. I just want other people’s opinions on whether its safe and a good idea to become a blogger to get money. thanks!.