patrick.net

errc says

Housing peaked four years ago? On what planet

Maybe you should use your brain once in a while.

The rate of price increase peaked. I don't think anyone would ever say real prices peaked because that has never happened in the entire history of the shiller index.

Goran said "I've only listened or talked about Schiff with regards to his views on housing, national debt, the fed, and precious metals"

Ok - so as to housing Schiff was still in doom mode regarding housing in 2012, 2013, etc. So if you listen to him on housing why did you buy in early 2013?

anonymous says

Ok - so as to housing Schiff was still in doom mode regarding housing in 2012, 2013, etc. So if you listen to him on housing why did you buy in early 2013?

I best explained that in my "buying house" thread back in January 2013.

For some, waiting for house prices to decline to the old normal is simply going to be a long wait. Though we may be bitter about it, our federal monetary policy clearly involves inflating/devaluing our way out of debt and explicitly encouraging higher home prices. This may not be a normal healthy market, but it's the market we'll be living with for a very long time.

So basically I accepted that the government under Obama was going to do everything in its power to not let housing crash even if he added trillions to the debt. I'm just an ant on a huge ant hill, I either go with the flow, or I get crushed. So I decided to go with the flow, and made out like a bandit.

I was right about the debt btw.



Who am I to fight against that?

Ok Goran so I agree with you as to the "new normal" in 2013. So in other words you knew Schiff was full of Schiff as to housing prices in 2013.

So on housing prices you listened to Schiff 2000-2012 and in 2013 you realized he was full of it.

anonymous says

Ok Goran so I agree with you as to the "new normal" in 2013. So in other words you knew Schiff was full of Schiff as to housing prices in 2013.

So on housing prices you listened to Schiff 2000-2012 and in 2013 you realized he was full of it.

Nope. I think Schiff was totally right about the market, so was Michael Burry. I just accepted the reality of it all when I bought.

To use an analogy. Say you have two tables of Black Jack at a Casino. The first table is using traditional rules, 52 cards, standard values, etc. You might expect 90 cents for every dollar you bet on average.

Say at the next table, the dealer is allowing players to swap a card out for, let's call it an FHA card. So you can hold a King, or Ace in the pocket and swap it out anytime you want. Now you might expect $1.25 for every dollar bet, maybe more.

Which table are you going to put your money at?

So to say Schiff was full of "Schiff" isn't accurate. He just understands the rules on a non-fraudulent game. But the game is completely fraudulent. Would you call Michael Burry an idiot for realizing the game was completely rigged even though he profited hundreds of millions of dollars with his option calls?

I wouldn't. Neither would you.

Goran - your blackjack analogy is perfect actually.

In 2013 after the fed telegraphed in every way possible that "the rules are now different", you saw this, I saw this, anyone withhalf a brain saw this.

As to why SChiff did not understand this speaks volumes to his judgment. Apparently you trusted his judgment from 2000-2012 but in 2013 you realized his judgment (as it corresponds to housing prices) is horrendously flawed.

anonymous says

Goran - your blackjack analogy is perfect actually.

In 2013 after the fed telegraphed in every way possible that "the rules are now different", you saw this, I saw this, anyone withhalf a brain saw this.

As to why SChiff did not understand this speaks volumes to his judgment. Apparently you trusted his judgment from 2000-2012 but in 2013 you realized his judgment (as it corresponds to housing prices) is horrendously flawed.

It was flawed in that he didn't accept the reality of the "new normal". I didn't believe it myself, then suddenly I did. Patrick.net is a website dedicated to pointing out the REAL reality, maybe Patrick actually believes in the new normal now (I don't know). Michael Burry didn't believe it for a while either until his options were worth over a billion dollars.

Human beings are bad at believing that things are worse then they really are, it scares us, so we paint a story that is favorable to us and use that "reality" instead.

Looks like some of you are well practiced experts

Imagine that.

I’ve always lived by “whatever you do, do it well”. I’m rethinking this after witnessing the acts of CiC etc

me123 says

errc says

pamming Patrick.net literally 24/7

How does that compare to your 36 posts already today, and the day isn't over yet?

https://patrick.net/comments?a=errc&offset=6889

We're still waiting for you to make a post that actually has some substance.

Someone needs to speak truth to all the lies and nonsense you and your ilk speak. I took up the task today

Consider that there are plenty of absolute fucking morons that you have rubbed the wrong way, making them look and feel foolish over the years, so as soon as someone steps up to challenge you, they have the full support of these Failed Losers.

It’s pathetic. CiC is back harvesting personal information and digging into personal backgrounds. He just so happened to know your families usernames, and conveniently was monitoring activity at the exact moment they were all logged in. It’s fucking creepy af but when you have nothing of substance to offer, at least he can hang his hat on doxxing and petty personal attacks

Goran,
A friend & I were talking about jacked up 4x4 trucks with all sorts of accessories & most look like they have never been off paved roads. A term he used that I had never heard before,

Now don't you become a "Pavement Princess"! rofl
......
All this talk about liars on Patnet is getting old.
Everyone knows that this is Liars Headquarters.
Take this from the smartest guy here!

HEY YOU says

Now don't you become a "Pavement Princess"! rofl

We'll I won't be scared to drive on gravel or dry river beds, but I'm not going to wreck it doing paths I'm not prepared for (according to my skill level).

Right.

The first sign of a potential fraudster is someone claiming 100% right every time. It’s an actual SEC guideline.

joeyjojojunior says

Almost as deep as you and CIC's. Although I don't imagine the goat will take kindly to being the jilted lover in this triangle so you may want to watch your back.

Who is CIC?