Another subprime primer
Suddenly, the main stream media has discovered the perils of subprime lending. Here is a one minute guide to the beast that is now beating up Wall street.
The UK housing market - the experts speak
The UK property market is the maddest baddest one of them all. Prices aren't just unaffordable, are in the twilight zone of overvaluation. London is probably the most inflated market in the work. It may not even be a housing market as most normal people understand the term. Rather, it may have become one giant fraud perpetrated on over-wealthy foreigners, mostly new Russians, who have more money than sense.
This little video highlights the deep sense of confusion that characterizes the UK market. Everyone knows that the market is massively overvalued, but those prices just keep going up.
Where will it end? When will it end?
One minute primer on subprime mortgages
The delivery is a bit dry, but the content is clear enough; here is a one-minute primer on subprime loans. The main lesson is that if you are a realtor and you sell one of these loans, you get more money. What could be simpler? Well, you would think that people would take a look at the repayment capacity of people taking out these loans. Judging by the massive increase in subprime defaults, that simple point was not well understand by many lenders.
It takes brass balls to sell real estate
Although this clip is dark and grainy, the dialogue is first rate. Taken from the 1980s film - Glengarry Glenross - Alex "always be closing" Baldwin explains what it takes to sell real estate. The philosophy is simple
"The only thing that counts in this life - get them to sign on the line". Certainly, this advice was taken to heart by many of the nation's subprime lenders.
Alex also comes through with a great incentive scheme for the luckless salesman:
"First prize is a Cadillac; second prize; a set of steak knives, third prize - YOU'RE FIRED".
"The only thing that counts in this life - get them to sign on the line". Certainly, this advice was taken to heart by many of the nation's subprime lenders.
Alex also comes through with a great incentive scheme for the luckless salesman:
"First prize is a Cadillac; second prize; a set of steak knives, third prize - YOU'RE FIRED".
Keep away from Northern Virginia, folks
This clip comes from a local northern virginian TV station. It starts out talking about a money losing condo project out in the boonies. But check out the language of these local commentators; it is extreme to say the least.
"It is a bloodbath in Northern Virginia"
"It has gone from panic-to-buy to a panic-to-sell"
Belfast housing
Check out this mad speculator queuing up to buy a pre-construction condo in Belfast, Northern Ireland. This guy thinks that property prices will "increase by 100 percent" in two years. 15 years ago, Belfast was a war zone, today it is bubbletown.
Equityitis
This clip concerns the Irish property market, which is probably the maddest baddest bubble in the world. However, this clip is very funny, and well worth watching. We have a new word in the English lexicon - equityitis.
Booyah
Here is Jim Cramer talking about housing, loans and how things really ain't that bad.
Hat-tip to lou minatti for another great youtube video.
A quck lesson in real estate fraud
How do you scam people out of rental deposits? This video will show you how. Chilling stuff.
Real estate scammer goes mad on camera
Here is a crazy clip where a couple accused of real estate fraud suddenly attack a camera man.
Million dollar phone power
Here is a classic piece of realtor rubbish. It is long, dreary and yet compulsively awful. As the man with the beard says on tape - "it is a powerful, powerful experience. Once you listen to this tape, it will change your life for ever." Passionate stuff.
This clip first featured on the classic bubble blog - housing panic.
More from flipper nation
See the latest installment.OK, OK, it is three weeks old, I missed it when it first came out.
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