Orange County Register

 16 Comments

• mav says:

  May 31, 2009 at 6 am

  did they stop printing the paper yet?
  if they did, and nobody is around to hear it
  are the trees in the forrest applauding?
• mav says:

  May 31, 2009 at 8 am

  here’s an idea for the register, why not just hire quality bloggers like Calculated Risk, Mish, Irvine Renter……. why try to reinvent the wheel, if this is the platform the register wishes to expand it’s internet channel…. then it’s time for many to look in the want ads… this is a local bickering forum barely worth the 4 advertisements it has on a page
• Tom M says:

  May 31, 2009 at 9 am

  I was under the impression this blog is supposed yo be a RE blog that featured some RE hack every Sat.
• Dealeo says:

  May 31, 2009 at 10 am

  Yeah, let’s ban the truth and go with all bubble bloggers all the time.
• Bill says:

  May 31, 2009 at 11 am

  This is one big cluster fudge!

  I can see the president’s speech now:

  Good evening ladies and gentleman, today I had to make a very tough decision, the decision to keep millions of unemployed liars in outrageously expensive homes at the cost of being remembered as the president who destroyed the United States credit rating system and bankrupted the United States, or decide to save my reputation and save the United States as a future country.

  As of midnight tonight millions of liars will be packing up their belongings and leaving homes they have no intention of ever paying for.

  But rest assured the government is here to help.

  We will be cranking up our printing presses in high gear and making paper tents for all of you to stay in.

  If you decide to sell the tents, they’re worth much more than the currency their made out of!
• Eat it in the OC says:

  May 31, 2009 at 7 pm

  And what truth would that be? From NAR/CAR? No, thanks. The reality, as it seems, is that every market is a micromarket which is effected by other micromarkets around it depending on the quality of housing available. So let’s say, Ladera ranch prices start to tank, that pulls in available market share from other communities which effects their prices and so on. The most influential market driver today is the economy and when people aren’t sure about jobs or bonuses aren’t rolling in and move up buyers are gone due to lack of equity or lack of a promotion or raise, the market is negatively effected. This micromarket is going to be negatively effected for several years (4+ IMHO).
• Patricio says:

  May 31, 2009 at 7 pm

  It’s funny and sad to see companies who are suppose to disseminate information, be so woefully behind the technology curve just now try and paddle into a wave that is already crested. I think however Yellow Pages gets the check mark for screwing up what should have been an easy migration…OCR and others are just on life support at this point unfortunately. However….very little sympathy for those who don’t listen or hire the people who would be good stewards to navigate them into the new century.
• MIke Hawk says:

  May 31, 2009 at 11 pm

  How about limiting it to two posts per person per article?
  We could call it the Deleo!
• MIke Hawk says:

  May 31, 2009 at 11 pm

  see theglobaleconomicanalysis.blogspot
  2009/05/mortgage-meltdown-more-pain-to-come
• Dealeo says:

  June 1, 2009 at 9 am

  Looks like Shiller just got bitchslapped:

  “Mr. Lawler has created an adjusted version of the Shiller chart, backing up his view that house prices already are nearing a bottom in much of the country. A T2 partner called Mr. Lawler’s critique “valid.”

  http://online.wsj.com/article/SB124051414611649135.html
• Dealeo says:

  June 1, 2009 at 9 am

  Hey look, T2 Partners agrees with yours truly!

  Losses Mostly Behind Us
  •
  Wave #1: Borrowers committing (or the victim of) fraud & speculators, who defaulted quickly. Timing: beginning in late 2006 (as soon as home prices started to fall) into 2008. Mostly behind us.
  •
  Wave #2: Borrowers who defaulted when their mortgages reset due to payment shock. Timing: early 2007 (as two-year teaser subprime loans written in early 2005 started to reset) to the present. Now tapering off as low interest rates mitigate payment shock.

  http://moremortgagemeltdown.com/download/pdf/T2_Partners_presentation_on_the_mortgage_crisis.pdf
• Dealeo says:

  June 1, 2009 at 9 am

  Eh, looks like even T2 doesn’t really understand loans though:

  “Each month, the borrower can choose to pay: 1) the fully amortizing interest and principal; 2) full interest; or 3) an ultra-low teaser interest-only rate (typically 2-3%), in which case the unpaid interest is added to the balance of the mortgage (meaning it is negatively amortizing)”

  This exerpt is 100% false.

  The also make the incredibly stupid conclusion that Option ARM loans are by far the most likely to be underwater. That is also 100% false. Option ARMs have an average LTV of 70%, while every other loan type had higher LTVs.

  I can’t get over how few people/firms really know what the hell they are talking about.
• Dealeo says:

  June 1, 2009 at 9 am

  Even though they say the bottom has happened, and agree with much of what I have been saying, I am officially distancing myself from T2 Partners. Any firm who chooses to rely on RealtyCrap and Mister Mortgage doesn’t know their asse from a whole in the ground.
• Eat it in the OC says:

  June 1, 2009 at 10 am

  Yeah, especially since Mr. Mortgage, RealtyTrac and T2 have data the doesn’t agree with your forgone conclusions. How’s denying reality going to for you? Did you have a nice weekend pretending the sun was out? Or how about spending some time at the beach, holding back the sea with a broom?
• rants says:

  June 1, 2009 at 10 am

  hey dealeo- its spelled hole - like the one in your head
• Brain says:

  June 1, 2009 at 10 am

  “Hey look, T2 Partners agrees with yours truly!”

  “Any firm who chooses to rely on RealtyCrap and Mister Mortgage doesn’t know their asse from a whole in the ground.”

  Very telling…