Buying and Selling: We Need (Fore)Closure

This pic comes from what may be the greatest real estate site of all time. I mean, how can you not love this:

Farm life teaches you a lot of values that are lacking in today’s society. It has a way of keeping you grounded, no matter how successful you become. Our family raised cows, pigs, goats, chickens, and many others and everyone had to learn many skills on the farm since very few things that needed doing were hired out. At a young age, farm life taught me many innovative ways to complete any task; and that part of farming had a lot of similarities to the skills I’ve learned as a real estate investor.

How ya gonna keep 'em down on the farm after they've seen triple-digit price gains, eh, Ma? No doubt that this particular example of bovinity was the prime grade on his farm:

I wonder if all that cow milking and dung slinging might have come in to good use for poor Heidi before she lost her home. I know the more cynical among my readership won't have a lot of pity for this woman and her family. Yeah, she bought a house bigger than she could afford. Yeah, she and her husband should've done their research about how ARMs work. Yeah, it's a tough, cold world out there. But that doesn't make it any less of a sad fact that people got blinded by cheap money and were crippled by lack of basic math skills and a fundamental need to be considered "successful" in a monetary sense.

You'll be seeing a lot more stories like these as more ARMs reset. It'll get less morbidly humorous each time.

Freddie Mac's CFO has resigned. I'm surprised he didn't say that he wanted to spend more time with his family or something of that nature. No doubt he wants to be as far away from that mess as possible when the books are finally balanced.

And I think this excerpt from Gentle Ben's latest non-statement says all you could possibly need to hear:

"I will do a better job of raising questions than of answering them," Bernanke said in his prepared remarks.

In other news, Alan Greenspan was heard to say, "YEESSS, MY YOUNG APPRENTICE, YESS...." in between mumblings about "froth" and "irrational exuberance."

Posted at March 22, 2006 07:12 PM

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This pic comes from what may be the greatest real estate site of all time. I mean, how can you not love this: Farm life teaches you a lot of values that are lacking in today’s society. It has a way of keeping you grounded, no matter how successful you become. Our family raised cows, pigs, goats, chickens, and many others and everyone had to learn many skills on the farm since very few things that needed doing were hired out. At a young age, farm life taught me many innovative ways to complete any task; and that part of farming had a lot of similarities to the skills I’ve learned as a real estate investor. How ya gonna keep 'em down on the farm after they've seen triple-digit price gains, eh, Ma? No doubt that this particular example of bovinity was the prime grade on his farm: I wonder if all that cow milking and dung slinging might have come in to good use for poor Heidi before she lost her home. I know the more cynical among my readership won't have a lot of pity for this woman and her family. Yeah, she bought a house bigger than she could afford. Yeah, she and her husband should've done their research about how ARMs work. Yeah, it's a tough, cold world out there. But that doesn't make it any less of a sad fact that people got blinded by cheap money and were crippled by lack of basic math skills and a fundamental need to be considered "successful" in a monetary sense. You'll be seeing a lot more stories like these as more ARMs reset. It'll get less morbidly humorous each time. Freddie Mac's CFO has resigned. I'm surprised he didn't say that he wanted to spend more time with his family or something of that nature. No doubt he wants to be as far away from that mess as possible when the books are finally balanced. And I think this excerpt from Gentle Ben's latest non-statement says all you could possibly need to hear: "I will do a better job of raising questions than of answering them," Bernanke said in his prepared remarks. In other news, Alan Greenspan was heard to say, "YEESSS, MY YOUNG APPRENTICE, YESS...." in between mumblings about "froth" and "irrational exuberance."