May 18, 2009

Soot and Ashes Quote of the Day

"If you despise the NAR because it is technologically inept, you’re hating it for the wrong reasons. The right reason to detest the NAR, and to seek its extinction, is because it makes war upon the free market in order to expropriate unearned wealth for brokers."

- Greg Swann, America's Most Discredited Realtor™, who himself is no longer paying his mortgage, having some sort of amazing HP/S&A worthy epiphany, May 2009

33 comments:

Anonymous said...

Think he's blaming them for his misfortune?

Anonymous said...

Can't beat em join em

Anonymous said...

yep...you were right ketih...we are at the bottom.

born to lose said...

maybe he's using reverse psychology

Anonymous said...

"If you despise Greg Swann because he is technologically inept, you’re hating him for the wrong reasons. The right reason to detest Greg Swann, and to seek his extinction, is because he makes war upon the free market in order to expropriate unearned wealth for himself."

big_j said...

Man, you just have to laugh at this guy; Keith may not be right about the bottom call; but may be right about Swann being the next Casey Sarin!

BOOK IT!

Anonymous said...

You can't comment on Swann's blog though. Too bad because the HATERZ would be out in force!

casey said...

Did he start doing meth?Man times are tough.

Anonymous said...

Next he'll say he predicted the housing crash

Craig Duckk said...

Top Ten Reasons Why We've Hit the Bottom.

10. Now I am bawling balefully
9. Realtors are willing to admit that they've been very publicly foolish
8. People from Canada and the Midwest are buying condos for less than the cost of one payment on a McMansion
7. Armando Montelongo gets more air time than Connie Degroot
6. Residential Construction workers are getting jobs again, plowing back under the neighborhoods they built in 2006
5. Taking a loss on mortgage payments vs rental income doesn't seem like a good idea anymore. Odd.
4. Paying your mortgage makes you seem like a fool. That was sooo 2007
3. Bubble bloggers everywhere are struggling to make ends meet or trying to be "optimistic about something, anything!"
2. Year-round discounted Golf and..
1. Pro Athletes(Phoenix Coyotes) shopping for homes in Canada.

BIG_J said...

I would have to be a non-haterz; just to screw with him...

Everything will be fine Greg-a-rino; just double down in Phoenix and you will be the next D. Trump! Uhh yeah...that's it...

Anonymous said...

Why are REALTORS listening to anything a foreclosed idiot has to say?

Anonymous said...

Gits a little more surreal everyday; don't it?

They've always been a...what's the word for it?

Non self-aware bunch; never slow to disparage others in their "profession", yet somehow blithely unaware of how that reflects on all of them.

Contrast that to doctors. Ever heard one speak ill of another?

Me neither.

"...Next he'll say he predicted the housing crash..."Heh. First they laugh, then they fight, then they claim they knew it all along.

"...Why are REALTORS listening to anything a foreclosed idiot has to say?"
Almost as funny as the New York Times financial expert on how he apparently was unable to grasp his own balance sheet.

Reality said...

Let's give Mr Swann the benefit of doubt. Austrian economists have long postulated that recession is the cure (not the disease) to former uneconomic behavior patterns.

When realtors were feeding off the teet of NAR, they were blinded by their own interest/greed. Now the teet has run dry, they are realizing just like the rest of us what a corrupt institution that was. I say we are not at the bottom until former union members start to have the epiphany how the union has ruined their lives (by preventing them from seeking a productive job while they were young) . . . and all public employees start to have the epiphany that the promised 30yr all-expense paid vacation after 20yrs of service is a sham.

vanilla ice said...

Good to see him turning around. Maybe there is hope for the RE people.

I did send him a nice email a couple weeks ago. He never wrote back.

consultant said...

Beware of what lurks beneath the devil's smile.

He's right of course. What happened? Did he have a near death experience? LOL.

I wouldn't mine having all NAR officials and supporters water boarded.

Lost Cause said...

Why are you surprised? He is wrong again, as usual.

Phoenix's housing bust goes boomReporting from Phoenix -- After four years of renting because they were priced out of the real estate market, Jamia Jenkins and Scott Renshaw concluded the time had arrived for them to buy.

They saw that home prices had dropped so fast here -- faster than in any other big city in the nation -- that mortgage payments would be less than the $900 they paid in rent. The city is littered with foreclosed houses, so the couple figured they could easily snatch up something in the low $100,000s.

patrat said...

Keith, a question you might ask. Is there anyone left in the US that is honest? What percentage, do you think? Do you think you can survive if you are honest?

Bukko_in_Australia said...

Funny how being smacked upside the head by financial ruin will make you see the truth. I reckon there's about 539,000 Americans a month (i.e. the officialbogus April unemployment number) who are learning how to see.

P.S. Excellent Top 10 list, Craig Duckk.

Anonymous said...

We are still under water and thus cannot refinance and have a loan that will reset in two years...What happened to the “cramming down” option?THIS is what MILLIONS of Americans are hoping to pull off: getting somebody else to swallow their load of red ink.

RICO said...

"...it makes war upon the free market in order to expropriate unearned wealth for brokers."


Apparently sufficient numbers of the NAR's *finest* were also graduates of the Goldman Sachs' College of Financial Fornication...

GS-COFF Syllabus:

Legalized Theft 101
Legalized Theft 202
Legalized Theft 303
Legalized Theft 404
Legalized Theft 505

(...)

Anonymous said...

Meet Greg Swann, Sociopathic Opportunist.

euonymous said...

I think Realtors(tm) (make sure to pronounce it "real-toars" and not "real-ters" 'cuz it makes 'em feel much more proud that way)

wait, that's not why I called....

Ok, here's my point:

I think Realtwhores(tm) have this big, huge, massive, collective, GUILT thing (stay with me) going on, because other than banker-pricks, there's not a SOUL on THIS planet that deserves 3%-6% for doing... jackshit!

Can you imagine going to bed every night thinking about all the people you either SCREWED that day, or TRIED to screw that day?

I can't.

I gotta stop, because when I think about the $$$$ those people raked in over the years...

And they're still out there! They still live, and breath, and sell fucking houses! At 3%-6%!

Keith... help me...stop me... cut me off... ban me...

We've learned not a GODDAM THING!

Sleep tight, all.

Anonymous said...

When someone is as arrogant as Swann, it's almost inevitable that the Gods will humble him.
Happens all the time.
Let that be a lesson to us all.

Anton Chiguhr

Anonymous said...

"...Some warn that a potential flood of new bank-owned properties could drive down prices further..."Heh.

WHERE did all those multiple offers come from if no one is lending?

Maybe they're telling the truth for a change.

{snicker}

big_j said...

soo...who is going to start up the donations??!?

WorkinginSD said...

Rather than admit he was wrong, he's taking the I-knew-is-along route. It's all he can do to salvage his reputation as an expert. We know, of course, that he's just following the trends before his nose, and not finding any real insight.

Angry Leprechaun said...

Keith,

I want you to know, out of all the mean things I say to you, I will back you up when it comes to Swann anyday. Swann likes to act like he eats money for breakfast. As far as I am concerned he can choke on a dollar bill thayt he helped make worthless. I would never wish that upon you Keith.

Anonymous said...

Blaming his personal failure on the NAR. VEry nice.

Anonymous said...

Unearned wealth is the name of the game. It is not limited to the NAR.

Take a long hard look at CEO's who reap wealth as they drive their companies into the ground. Ditto for hedge funds that destroy companies with their CDS protected short sales. Then of course there are the bankers and insurance companies.

This is exactly what happens when the tax code does not reward those who invest in business for the purpose of creating jobs and products.

We live in an economy where they are encouraged to rake it off the sweat of the rest of us. Yeah, that's right "we the lowly worker bees" They are entitled.

yoski said...

What's next? Dick Cheney in a gay pride parade?

Anonymous said...

"yoski said...

What's next? Dick Cheney in a gay pride parade?"
The Chainy Leather Gitmo Ensemble; now on sale @ BDS&M.com.

Anonymous said...

When Swannie River says to "buy gold" we are at the bottom. Not until then.