October 2 MLS Update

The Zip had eleven new listings, but the Meadows had none.

 

There were 15 price reduction in the Zip, but only one in the Meadows. The 3,000 s.f. home on Moon View went from $540,000 to $525,000.

 

No Meadows homes went into Pending, although five did so in the Zip.

 

TEN HOMES closed escrow TODAY in Zip Code 92026! (None in the Meadows.)

 

TEN! The most expensive one closed at $416,000, so it is still the investors who are active, but THEY ARE ACTIVE!

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Bailout Analysis III

 

GE Stock opened today down 10% — but Berkshire Hathaway (Warren Buffett) bought $3 billion in GE Preferred stock and GE closed down 3% for the day.

 

That is called a “market.” Investors make money when the market rises, and investors make money when the market falls, Bet red or bet black,

 

Investors are taking houses off the market almost as fast as they come on the market, and if they could get a moratorium on new foreclosures for a short period, the investors would clean up the trash.

 

Roger Hedgecock mad a number of calls today to a random group of retailers — Fry’s, Toyota of San Diego, Sleep Train Mattress, etc. and asked if they were having a credit crunch — not ONE said they were having any problem getting credit.

 

Fear is how government gets its way with us. It scares us to action — but it is seldom in our best interest. It is ALWAYS in government’s best interest.

 

I give you the fight between labor and business. First labor cries foul and goes to government to get a law passed to control business practices — business gets weaker and government has another law to enforce, and hires new people for “oversight.” Labor is happy, government is happy, business is weaker.

 

Then business goes to government complaining about a labor practice, government passes a law making labor less powerful, but government has another law to enforce, hires new people for “oversight” and government grows stronger. Labor is weaker, business is happier, but government is happy.

 

Do this a few hundred times and both labor and business are weaker, but happy they got into each others’ knickers — only government is larger and more powerful.

 

We are being had in this bailout, and only government and their friends are making out.