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[quote author="NewportSkipper" date=1252617438][quote author="awgee" date=1252616480]From <a href="http://www.cnbc.com/id/32773345">Meredith Whitney</a>:





<em>"Home prices in the US could fall by another 25 percent because of high unemployment and another leg down will come for stocks, banking analyst Meredith Whitney told CNBC Thursday."</em>







<em>"No bank underwrote a loan with 10 percent unemployment on the horizon," Whitney said. "I think there is no doubt that home prices will go down dramatically from here, it's just a question of when."</em></blockquote>


So basically, the 25% was pulled directly out of her derriere.</blockquote>


This proves you are a troll. This woman made her name in speaking the truth about the banks when everyone else was busy drinking the kool-aid. Her cred is impeccable, your cred is... cruddy.
 
[quote author="Nude" date=1252622103][quote author="NewportSkipper" date=1252617438][quote author="awgee" date=1252616480]From <a href="http://www.cnbc.com/id/32773345">Meredith Whitney</a>:





<em>"Home prices in the US could fall by another 25 percent because of high unemployment and another leg down will come for stocks, banking analyst Meredith Whitney told CNBC Thursday."</em>







<em>"No bank underwrote a loan with 10 percent unemployment on the horizon," Whitney said. "I think there is no doubt that home prices will go down dramatically from here, it's just a question of when."</em></blockquote>


So basically, the 25% was pulled directly out of her derriere.</blockquote>


This proves you are a troll. This woman made her name in speaking the truth about the banks when everyone else was busy drinking the kool-aid. Her cred is impeccable, your cred is... cruddy.</blockquote>


It would be nice if the math was spelled out in her prediction. Absent that, it's empty hyperbole. And how can I not have credibility when all I put forth is facts? Do you have something against facts?
 
Not a bad come back. I don't know Meridith Whitney. It's not a bad thing to question it. Apparently Madoff was also a well respected giant on wall street.
 
[quote author="zubs" date=1252631734]Not a bad come back. I don't know Meridith Whitney. It's not a bad thing to question it. Apparently Madoff was also a well respected giant on wall street.</blockquote>
Madoff was taking people's money and "investing it". Whitney is an analyst who provides information to companies. At the time of the Citigroup report, she was working for Oppenheimer. She's the one who stood up and announced publicly that the Emperor had no clothes. SkipperDan isn't questioning it because it's a dubious source, he's questioning it because it doesn't conform with his wishful thinking.



BTW, SkipperDan, if you want to see her math, you can <a href="http://www.meredithwhitneyllc.com/firm.htm">hire her firm.</a>
 
[quote author="NewportSkipper" date=1252626529]Absent that, it's empty hyperbole. </blockquote>


Kind of like the proposition that nearly universal, easy to obtain and super nifty loan mods will save the housing market, rescue the economy and solve the world's problems?
 
[quote author="CM_Dude" date=1252638540][quote author="NewportSkipper" date=1252626529]Absent that, it's empty hyperbole. </blockquote>


Kind of like the proposition that nearly universal, easy to obtain and super nifty loan mods will save the housing market, rescue the economy and solve the world's problems?</blockquote>
No fair... I left my hyperbole in another thread.
 
[quote author="CM_Dude" date=1252638540][quote author="NewportSkipper" date=1252626529]Absent that, it's empty hyperbole. </blockquote>


Kind of like the proposition that nearly universal, easy to obtain and super nifty loan mods will save the housing market, rescue the economy and solve the world's problems?</blockquote>


You have it twisted. I laid out the facts of loan modifications, which were sorely missing and misunderstood here.
 
[quote author="NewportSkipper" date=1252641454][quote author="CM_Dude" date=1252638540][quote author="NewportSkipper" date=1252626529]Absent that, it's empty hyperbole. </blockquote>


Kind of like the proposition that nearly universal, easy to obtain and super nifty loan mods will save the housing market, rescue the economy and solve the world's problems?</blockquote>


You have it twisted. I laid out the facts of loan modifications, which were sorely missing and misunderstood here.</blockquote>


Perhaps, but you have also opined that the loan mod pipeline will open, with great positive impacts on the housing market.
 
[quote author="NewportSkipper" date=1252617438][quote author="awgee" date=1252616480]From <a href="http://www.cnbc.com/id/32773345">Meredith Whitney</a>:





<em>"Home prices in the US could fall by another 25 percent because of high unemployment and another leg down will come for stocks, banking analyst Meredith Whitney told CNBC Thursday."</em>







<em>"No bank underwrote a loan with 10 percent unemployment on the horizon," Whitney said. "I think there is no doubt that home prices will go down dramatically from here, it's just a question of when."</em></blockquote>


So basically, the 25% was pulled directly out of her derriere.</blockquote>


So fellow IHB members who should we believe ?



Meredith Whitney on Housing Prices.

<a href="http://www.cnbc.com/id/32773345/">http://www.cnbc.com/id/32773345/</a>



In 2007, Whitney was listed as the second best stock picker in the capital markets industry on Forbes.com?s list of ?The Best Analysts: Stock Pickers?, as well as being named ?one of NY Post?s 50 Most Powerful Women in NYC.



Whitney?s extremely bearish view on banks landed her on the cover of the August 18, 2008 issue of Fortune Magazine. Even before the problems in September that befell Merrill Lynch and Lehman Brothers, she is quoted as saying, ?It feels like I?m at the epicenter of the biggest financial crisis in history.? In October 2008 Whitney, was ranked as one of Fortune 500?s ?50 Most Powerful Women in Business.? In 2008 she won CNBC?s ?Power Player of the Year? over Jamie Dimon, Ben Bernanke, and Hank Paulson.



Or our new Internet RE expert. Skippy.



<img src="http://www.bltserv.com/images/Skippy.bmp" alt="" />
 
[quote author="CapitalismWorks" date=1252642524]Skiddy, this ones for you.



Here is a nice deal in T Ridge. You might wanna evaluate the possibilty of any more 3200 Sq ft homes closing for $2.2MM this decade.



Here is a 3600 sq ft home with asking less than $1.7.



http://www.redfin.com/CA/Irvine/35-Hidden-Trl-92603/home/5927964



What was that about T-Ridge and Shady Canyon prices... Oh Yeah, they're COLLAPSING. In this case ASKING exactly 25% off 2006 sales price.</blockquote>


No, it will sell for $1.7-$1.8 just like all the other ones it resembles. And the 2006 sale was not a market sale at all. It was a corporate relocation sale. So, 25% off is collapsing now?
 
[quote author="bltserv" date=1252642416][quote author="NewportSkipper" date=1252617438][quote author="awgee" date=1252616480]From <a href="http://www.cnbc.com/id/32773345">Meredith Whitney</a>:





<em>"Home prices in the US could fall by another 25 percent because of high unemployment and another leg down will come for stocks, banking analyst Meredith Whitney told CNBC Thursday."</em>







<em>"No bank underwrote a loan with 10 percent unemployment on the horizon," Whitney said. "I think there is no doubt that home prices will go down dramatically from here, it's just a question of when."</em></blockquote>


So basically, the 25% was pulled directly out of her derriere.</blockquote>


So fellow IHB members who should we believe ?



Meredith Whitney on Housing Prices.

<a href="http://www.cnbc.com/id/32773345/">http://www.cnbc.com/id/32773345/</a>



In 2007, Whitney was listed as the second best stock picker in the capital markets industry on Forbes.com?s list of ?The Best Analysts: Stock Pickers?, as well as being named ?one of NY Post?s 50 Most Powerful Women in NYC.



Whitney?s extremely bearish view on banks landed her on the cover of the August 18, 2008 issue of Fortune Magazine. Even before the problems in September that befell Merrill Lynch and Lehman Brothers, she is quoted as saying, ?It feels like I?m at the epicenter of the biggest financial crisis in history.? In October 2008 Whitney, was ranked as one of Fortune 500?s ?50 Most Powerful Women in Business.? In 2008 she won CNBC?s ?Power Player of the Year? over Jamie Dimon, Ben Bernanke, and Hank Paulson.



Or our new Internet RE expert. Skippy.



<img src="http://www.bltserv.com/images/Skippy.bmp" alt="" /></blockquote>




You are all rudeness without an ounce of anything to back it up. Again, bring the facts - both you and Meredith.
 
Thank you for sharing Meredith Whitney's accolades. It does lend weight to her ideas and predictions......also as far as I'm concerned 25% collapse in price is collapsing... If I lost 25% of my business, I would be cutting my employee hours.
 
[quote author="NewportSkipper" date=1252643374][quote author="bltserv" date=1252642416][quote author="NewportSkipper" date=1252617438][quote author="awgee" date=1252616480]From <a href="http://www.cnbc.com/id/32773345">Meredith Whitney</a>:





<em>"Home prices in the US could fall by another 25 percent because of high unemployment and another leg down will come for stocks, banking analyst Meredith Whitney told CNBC Thursday."</em>







<em>"No bank underwrote a loan with 10 percent unemployment on the horizon," Whitney said. "I think there is no doubt that home prices will go down dramatically from here, it's just a question of when."</em></blockquote>


So basically, the 25% was pulled directly out of her derriere.</blockquote>


So fellow IHB members who should we believe ?



Meredith Whitney on Housing Prices.

<a href="http://www.cnbc.com/id/32773345/">http://www.cnbc.com/id/32773345/</a>



In 2007, Whitney was listed as the second best stock picker in the capital markets industry on Forbes.com?s list of ?The Best Analysts: Stock Pickers?, as well as being named ?one of NY Post?s 50 Most Powerful Women in NYC.



Whitney?s extremely bearish view on banks landed her on the cover of the August 18, 2008 issue of Fortune Magazine. Even before the problems in September that befell Merrill Lynch and Lehman Brothers, she is quoted as saying, ?It feels like I?m at the epicenter of the biggest financial crisis in history.? In October 2008 Whitney, was ranked as one of Fortune 500?s ?50 Most Powerful Women in Business.? In 2008 she won CNBC?s ?Power Player of the Year? over Jamie Dimon, Ben Bernanke, and Hank Paulson.



Or our new Internet RE expert. Skippy.



<img src="http://www.bltserv.com/images/Skippy.bmp" alt="" /></blockquote>




You are all rudeness without an ounce of anything to back it up. Again, bring the facts - both you and Meredith.</blockquote>


Newport Skipper, Meredith Whitney gave an interview and expressed her analysis, asking for her "facts" here is a wholly transparent delay tactic, and indicative of the forum posting style that has riled so many IHBers. Are you being deliberately obtuse?



Meredith DID say that consumer spending is stagnant, which is stalling economic activity, and there are facts to back that up, summarized nicely in this NY Times blog:



http://norris.blogs.nytimes.com/2009/09/09/consumers-wont-borrow/?scp=4&sq=consumer spending&st=cse
 
[quote author="zubs" date=1252644419]Thank you for sharing Meredith Whitney's accolades. It does lend weight to her ideas and predictions......also as far as I'm concerned 25% collapse in price is collapsing... If I lost 25% of my business, I would be cutting my employee hours.</blockquote>


It's a matter of verb tense (collapsing or collapsed). The property at 35 Hidden Trail was in fact sold in June, 2007 for $1,910,000. For some reason, the grant deed was recorded, but the last sale still reflects the relocation company sale. That is much more the pricing of the time and represents around $200,000 more than its current value, or 10% off the 2007 price.
 
[quote author="NewportSkipper" date=1252643302][quote author="CapitalismWorks" date=1252642524]Skiddy, this ones for you.



Here is a nice deal in T Ridge. You might wanna evaluate the possibilty of any more 3200 Sq ft homes closing for $2.2MM this decade.



Here is a 3600 sq ft home with asking less than $1.7.



http://www.redfin.com/CA/Irvine/35-Hidden-Trl-92603/home/5927964



What was that about T-Ridge and Shady Canyon prices... Oh Yeah, they're COLLAPSING. In this case ASKING exactly 25% off 2006 sales price.</blockquote>


No, it will sell for $1.7-$1.8 just like all the other ones it resembles. And the 2006 sale was not a market sale at all. It was a corporate relocation sale. So, 25% off is collapsing now?</blockquote>


So even with your own, out of thin air estimates, this home will sell for significantly below the "recent" closing prices you posted previously.



Don't corporations pay market prices for real estate? I didn't realize there was a special market for those special corporate sales. Perhaps you can elucidate...
 
"Newport Skipper, Meredith Whitney gave an interview and expressed her analysis, asking for her ?facts? here is a wholly transparent delay tactic, and indicative of the forum posting style that has riled so many IHBers. Are you being deliberately obtuse?"



I am not a mind reader and am not familiar with her interview. Unless she spells out her analysis from A to Z, I am unconvinced that the 25% has meaning. I would like to know:



1. What level of unemployment is assumed in the worst case scenario of "the underwriters";



2. The difference between that and what we have;



3. What level of home price drop was also assumed by "the underwriters";



4. The difference between that and what we have.



My questions are not a wholly-transparent delay tactic, they are the mark of a curious and not-easily-swayed consumer of information. But thanks for your $.02 anyway.
 
[quote author="CapitalismWorks" date=1252646827][quote author="NewportSkipper" date=1252643302][quote author="CapitalismWorks" date=1252642524]Skiddy, this ones for you.



Here is a nice deal in T Ridge. You might wanna evaluate the possibilty of any more 3200 Sq ft homes closing for $2.2MM this decade.



Here is a 3600 sq ft home with asking less than $1.7.



http://www.redfin.com/CA/Irvine/35-Hidden-Trl-92603/home/5927964



What was that about T-Ridge and Shady Canyon prices... Oh Yeah, they're COLLAPSING. In this case ASKING exactly 25% off 2006 sales price.</blockquote>


No, it will sell for $1.7-$1.8 just like all the other ones it resembles. And the 2006 sale was not a market sale at all. It was a corporate relocation sale. So, 25% off is collapsing now?</blockquote>


So even with your own, out of thin air estimates, this home will sell for significantly below the "recent" closing prices you posted previously.



Don't corporations pay market prices for real estate? I didn't realize there was a special market for those special corporate sales. Perhaps you can elucidate...</blockquote>


This is a view home and should outperform some of the others.
 
"Don?t corporations pay market prices for real estate? I didn?t realize there was a special market for those special corporate sales. Perhaps you can elucidate?"



Apparently not, because $2,250,000 was way, way, way over market at the time.
 
[quote author="NewportSkipper" date=1252646911]"Newport Skipper, Meredith Whitney gave an interview and expressed her analysis, asking for her ?facts? here is a wholly transparent delay tactic, and indicative of the forum posting style that has riled so many IHBers. Are you being deliberately obtuse?"



I am not a mind reader and am not familiar with her interview. Unless she spells out her analysis from A to Z, I am unconvinced that the 25% has meaning. I would like to know:



1. What level of unemployment is assumed in the worst case scenario of "the underwriters";



2. The difference between that and what we have;



3. What level of home price drop was also assumed by "the underwriters";



4. The difference between that and what we have.



My questions are not a wholly-transparent delay tactic, they are the mark of a curious and not-easily-swayed consumer of information. But thanks for your $.02 anyway.</blockquote>


No your out of hand dismissal of the well-informed opinions by one of the most respected independent fianancial analysts is disingenuous. You comments plainly speaks to a desire to support unsustainable (and most likely self-serving) views.
 
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