April 29, 2009

Phoenix house prices plunge ANOTHER 35%, worst market in the US. In related news, Greg Swann reads a good book.


I think at this point we just laugh at Swanndive.

Here he was in
2006, saying some pretty nasty stuff about you all:

"To lurk among the BubbleBloggers and their seething commentariat is to acquire an education in a slice of America invisible from this side of the sewer gratings. Notwithstanding the idiotic economic analysis, which is really no worse than the static-market fallacies paraded as profundities in the pages of the Arizona Republic, these sites — and not just HousingPanic — are infested with a cult-like fever to inflict suffering — at second hand, to be sure — on people who are in fact guilty of nothing except failing to have drunk the BubbleBlogger KoolAde."

"The BubbleBloggers will someday bawl balefully in private, but they will never, ever admit that they have been very publicly very foolish. You will know and I will know and in the secret chambers of their hearts they will know they were wrong all along. But as long as you don’t hold your breath waiting for that contrite admission of error, you should be fine."

Here he is in the NY Times today:


Greg Swann, a Phoenix real estate agent, took a moment to marvel at the news. “What happened here will some day be a new chapter in ‘Extraordinary Popular Delusions and the Madness of Crowds,’ ” the classic survey of investing mania, he said. “We were living during the boom like there was no tomorrow. And guess what? Now it’s tomorrow.”

And oh, don't wait for that apology you evil sewer-dwelling kool-aid drinking nazi brown shirts. Only a person with class would do that.

23 comments:

casey said...

Is greg swann flipping burgers these days?

Anonymous said...

What about this gem from the bottom of the article:

Mr. Swan, the realty agent, said inventories of lower-priced homes were already dwindling in Phoenix as investors snapped up bank-owned properties at bargain prices.

“I’ve got Canadians coming here who are putting together investment pools of millions of dollars to buy houses by the hundreds,” he said. “They’re going to rent them out to all the people who were foreclosed and need a place to live. This is going to be a good year for us.”

will shill for coin said...

What does this say about the NYTimes?

They're quoting as an expert someone who was 'cramped down' for what he really was by a (though excellently written) blog 3 years ago.

Anonymous said...

"...the first major American city where home prices have fallen in half since the market peaked in the middle of the decade...down 50.8 percent since the market peaked in June 2006..."AHEM.Scroll down to page 29; Merced, CA.

Craig Duckk said...

I don't see any of you toolbags, including you Keefer, in the New York Times!

Anonymous said...

to bad the rip offs at the house insurance companys will get their great strong arm pay days and increases and maintain their rip off prices....ditto..health insurers even while i the peasant taxpayer "own" AIG the worlds largest insurer....crappola......crappola.....

Miss Goldbug said...

All those big words, don't make any sense.

I'll make it simple:

Housing market: Gigantic ponzi scheme.

We knew all along this would happen. The Housing Panic blog has been vindicated.

image009 said...

Looks like an interesting book. Does it include anything about pro athletes and year 'round golf?

Anonymous said...

Greg Swann can read?

i've had it said...

Swan should do serious jail time.

I am in Long Beach, CA today on business. Sitting at the bar of a high end restaurant sitting next to two people formerly in real estate talking about how well they had done and now they have nothing. One's a con man and the other is a call girl. I overheard the conman say that he had been sued for 4 million dollars by his company for god knows what so he declared bankruptcy. The call girl responded with her hard luck realtor story of how her partner fucked her over and now she has nothing

I am not kidding. They are one bar stool away from me.

But, it looks like they both want to get lucky so it's a slam dunk tonight for these two "housing whores in love".

Such is the state of things in southern california.

Anonymous said...

Best to put him out of your mind completely. If you dwell on the self-serving, mind-blowing hypocrisy your heart will explode. At best (for natural justice), he swallowed his own snake oil, bought properties and lost a bundle. At worst, he was left financially OK, but his moment in the sun is over and he'll go back to being another anonymous, middle-class office worker.

Anonymous said...

Thankfully, there's still one area of the economy that is still growing.Think big, Greg. ;^D

upon the swanney river said...

Un-F'ING believable.

Anonymous said...

I saw this article this morning and knew this would not slip past you ... Well played Keith.

kerry londine said...

when someone kicks him in the ass, he'll have to eat his own words while we celebrate...

Anonymous said...

New York Times. What a joke, just sad.

Anonymous said...

I wonder if Greg realizes there will be an entire passage devoted to HIM in that book?

Anonymous said...

what a hump.

Post a link to his e-mail please or just put it up on the board. Better yet, can you get a list of all the schmucks he sold a house to say back in 2005 to 2007? We can incite riot among those people that he lied to in order to get his commission and they can sharpen up their pitchforks and do our bidding for us.

Smug Bastard

Anonymous said...

if only his mother had heard of abortion or birth control

Anonymous said...

Ben Stein: enough self-respect, integrity, and backbone to apologize in public to Peter Schiff.

Art Laffer and Greg Swann...not so much.

Mike H. said...

Keith,

I'm sorry about giving you a hard time. I was wrong but I'm willing to be man enough to admit my mistakes.

-Greg Swann
.
.
.
.
.
.


NOT!

-Mike

Anonymous said...

Laughter, no applause

http://www.youtube.com/watch?v=u3TpfsDwr6s&feature=player_embedded

waiting to exhale said...

'...as you don’t hold your breath waiting for that contrite admission of error...'

The REIC hasn't issued an official apology for their Ponzi Housing Scheme yet.

Is an apology an admission of guilt?


Swann can't hide his lying eyes...