Capitol One Credit Results Better than Expected - it really wasn't the end of the world

please on.y post bad news on these boards that fit into the market timers doom and gloom theories. You will be vilified for even moentioning that there is hope and that some people are making money in this economy.

I like how you guys are trying to cover up your horrible, horrible predictions with "well, the world didn't end, so I was right after all".

Both of you called UP at the peak of the biggest real estate bubble ever.

We're down 20-25%, and still declining.

Of course its not the end of the world... and most folks predicting the RE drop weren't predicting that either.

But to try and use this to cover up the fact that you two told people to buy in maybe the BIGGEST BUBBLE OF ALL TIME.

Wow, shame on you. And shame on you for trying to pretend it didn't pop.

face it we all have to

"We're down 20-25%, and still declining"

I just had an appraisal done that said the overall market was down 6%. I don't think that's right but where did you get 20-25%? Is this your estimate?

Miller Samuel... and the other appraisal firm as well.

6%? Huh The medians were already down more than that MONTHS ago. Double digits. Even the brokerages had that stat...

nyc10022...pulled the estimate out of her how'r ya. It's so easy to throw around numbers. Hey 20% no 50% no 75%. 4th Q medians were UP versus 2008 nyc.

I know, was surprised to see the 6% as well. I can't find anything on Miller Samuel that states the 20-25%. Can you link the article?

nyc10022 is a proven liar who makes up numbers to justify his own losing all his investments and his job as well as having to pay his landlord over $150K in rent in the last 3 years.

Wow, perfitz, are your losses must really be getting to you... you are SO bitter.

> I can't find anything on Miller Samuel that states the 20-25%.

It was posted 20x and debated on this board. Just do a search...

> 4th Q medians were UP versus 2008 nyc.

SO, 4th quarter 2008 was up versus 4th quarter... uh, 2008?

Steve, no wonder why you thought Real Estate would go up... you can't read!

"I know, was surprised to see the 6% as well. I can't find anything on Miller Samuel that states the 20-25%. Can you link the article?"

JuiceMan, he's referring to contract data, which Miller himself has called "suspect." The Q1 reports should be out soon though, so we'll see a more pronounced decline there I bet.

nyc10022..take it easy tough guy, why so upset? is it because there are no more job cuts?? is it because the economy looks to be recovering?? is it because you still can't buy that apt you so desperatly desire?? what is it nyc10022? why the hostility. Face it, your hopes for the worst are not happening.

> JuiceMan, he's referring to contract data, which Miller himself has called "suspect."

AND I also noted median data as well... but you seemed to have missed that.

"nyc10022..take it easy tough guy, why so upset? is it because there are no more job cuts?? is it because the economy looks to be recovering?? is it because you still can't buy that apt you so desperatly desire?? what is it nyc10022? why the hostility. Face it, your hopes for the worst are not happening. "

Why would I be upset? I called it right.

Plus, you seemed to not be very good at reading. I never said the world would end. I always said we would recover. But, I get that you reading comprehension skills are lousy.

But pointing out how you told everyone a YEAR AGO it was time to buy is just too, too, TOO funny. And then said the same each month for the following year.

You are a constant source of amusement!

and now that I've answered your question, Steve.... answer everyone else's...

Why are you in such denial?

another stupid thread. but hey, i can't deny that watching lemmings marching down the plank isn't amusing. especially when you get to hear what they are saying to each other on their way out.

all one can do is inform them and hope a small % actually listen. the rest, well, it's just entertainment now.

I'll just wait for the Q1 numbers, thanks nyc & bjw.

I'm getting a headache dealing with you...denial about what Ms. annoying?...just forget it man, or woman or eddie wilson, whatever you are.....next!!.

Steve, your repetitive denial is getting a little old...

"Looks like we've got a house full of bears...well then it's time to buy. The fed has pumped 1 TRILLION dollars into the market already. What does that mean a year from now...inflation. Which in turn means assets become more valuable. It's not rocket science here, it's all been done before, this time is no different."

Oh yeah, that was SteveF a YEAR AGO.

And you're telling US that you're getting a headache?

Dude, you've been spouting the same moronic denial for a year, and been wrong. Seriously, you are the blabbermouth. Don't be a complete hypocrite, too.

and why so bitter, Steve? how underwater are you?

> i'll just wait for the Q1 numbers, thanks nyc & bjw.

no prob... although, you know, I really wish they'd do a stat like "average contract signing" or something - or maybe break out the sell date as within 2 vs. post 2 - with the median data. So much of it can be so dated.

Especially with October hitting fast, and then sales coming to a halt. Means we're still going to have a major pre-bust slant.

of course, things like this are also why the medians take YEARS to bottom (see 1987-1991)

lemmings get headaches? how interesting... didn't think there was much in there to cause pain. lmao.

sorry, couldn't resist.

People, after all this time, and watching the gigantor aircraft carrier we call manhattan real estate finally completing its 180 degree turn into negative, do you really think this is it? this is the bottom? We're not even done turning, and it does take a while to turn these huge beasts you know.

You know how many of the things we've debated in the past 2 years have turned out... from Wall St. Bonuses (it's going down, no! it's going up!), to the recession (it's happening, no! it's not happening!), to countless of threads debating whether or not Manhattan will be in negative growth (from the foreigners who will save us to all the other crazy reasons why Manhattan is different).

As Jim Rogers always repeats, "If I were wrong 10x in a row you wouldn't ask me to come to Bloomberg anymore for an interview".

Face it- petrfitz, steveF, you've been wrong time and again with threads readers here have linked to to prove it. Why you insist on being EVEN more wrong, must surely be for entertainment.

And you guys are good at it. Keep it coming.

"no prob... although, you know, I really wish they'd do a stat like "average contract signing" or something - or maybe break out the sell date as within 2 vs. post 2 - with the median data. So much of it can be so dated."

Now there's something I can agree with. Once data gets better and more transparent, it'll be easier to talk about these things. Unfortunately, there are some people whose interests are tied too closely to the data for this to happen overnight.

"Face it- petrfitz, steveF, you've been wrong time and again with threads readers here have linked to to prove it. Why you insist on being EVEN more wrong, must surely be for entertainment."

Not fair to steveF - at least he's relatively polite.

> at least he's relatively polite.

Being more polite than perfitz doesn't say much. And SteveF has gotten nasty in recent posts.

tell us again about polite...

"look at nyc10022, urbandigs little b-tch, she follows him around all day saying "YA YA what he said!""

The ever-denying SteveF

here is another one....

"According to Josh Barbanel in the NYT RE section (not exactly RE bears mouthpiece, to put it mildly) NY co-ops are already 28% down recorded."

Tromicolo pulled that one... already asked where its from.

http://www.streeteasy.com/nyc/talk/discussion/9294-times-co-op-prices-down-28

NYC10022 - how much money have you made from paying rent? How much money have I made from collecting rent? How much of your take home - if you have any - goes to paying your rent? None of my take goes to paying mortgages on my rented properties, they pay me.

So who is wrong? Who is losing money? I'm not. I made more in 2008 than I did in 2007. 2009 looks to be an even better year than 2008. How about you?

How much money did you "make" by paying the mortgage on a declining asset?
How much money do you "make" by paying increasing property taxes.
How much money did you "make" by buying at the top of a bubble and watching prices drop 5-10% each month.

Only a genius like you could explain that one!

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