Monday, September 3, 2007

Watching Kristy Miller on the local cable just now interviewing a mortgage guy. Couldn't watch it. It was pathetic. She was just swallowing the whole line of bullshit the guy was throwing, and obviously didn't know enough to ask the tough questions.

I guess I wonder if this guy really believes that if he puts the best face on things that it's going to matter. I won't repeat what he said, but just in the couple of minutes I could stand to watch, he spouted most of the "Prices were too high, but now their getting good" lines.

I think that the bank is going to look at a buyer's credit, income and debt, and downpayment. The buyer is going to look at, the price, the timing, and the location.

So spin all the BS you want, fella. It isn't going to matter.
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8 comments:

Anonymous said...

So spin all the BS you want, fella. It isn't going to matter.
*

One thing we haven't heard for awhile is 'bend exceptionalism', ... aspen,

It's now like we're all on the Titanic and its going down, and we all have to help each other out, ...

A year ago it was Bend is Aspen, and we're all going to get rich.

Given that we're now the Titanic slowly sinking. Why in the HELL would anybody want to buy here?

This is the problem when your PR machine makes SPECULATION reason #1 to buy a home here.

Now that its over, there is ZERO reason to buy a home in Bend, I have not heard anyone on the PR side for a long time tell us that Bend is Aspen, and that we were special, and Gods chosen place,... What happened to those people?

Now all we here from is contractors bitching about the permit process, and mortgage brokers telling people they have to have a job. This isn't the kind of issue you would expect in Aspen?

All the BIG LIES of Bend are NOW clearly over, a WHOLE new MYTH making MUST begin soon, or otherwise we're just a desert town with over-priced real estate.

September 3, 2007 at 3:08:00 PM PDT
Duncan McGeary said...

Like I said, I couldn't watch the damn thing....

I think the PR push is just beginning. We are going to hear so many excuses and explanations and exceptions and bitching and blaming and scapegoating and finger-pointing. It is just now starting to sink home that it's over, and they'll blame everyone but themselves.

September 3, 2007 at 4:50:00 PM PDT
Duncan McGeary said...

As hard as it is to believe, I think the housing market really believed their own bullshit, and they were waiting (and are waiting) for the market to turn and haven't really been paying attention, or refused to believe it. Even the most obtuse will finally begin to believe it sometime around next spring. They'll hold their breath to see if it picks up, and when it doesn't, they'll begin to panic.

Shouldn't take so long, but if they were paying attention they've already moved on.

September 3, 2007 at 4:54:00 PM PDT
MissTrade said...

Watch the new show on COTV called the Trading Desk if you want a more realistic version of the Trading economy. First show is on COTV video on Demand and its Called the Trading Desk.

September 3, 2007 at 5:39:00 PM PDT
Bend Economy Man said...

Not to mention that the Kristy Miller show's audience can't do a damn thing to help the Bend real estate industry. It's kind of hilarious how the local media are always trying to calm Bendites about the RE market by saying things like "interest rates are still historically low" or "there are a lot of great choices out there" or "qualified buyers can get great deals." OK, Bulletin, KTVZ, Kristy Miller: people in Bend are the ones who ALREADY bought in. There's no point in telling them it's a great idea to buy Bend real estate.

Unfortunately, our local media don't reach the people who can save Bend's home values: people out of the area who we need to move here. Yes, we NEED them to move here. Now. Unfortunately, though, very few people NEED to move here themselves. They may WANT to move here, but it's a choice they can put off indefinitely.

Take a look back at This Bulletin story from April 2006, back when many national RE markets (not Bend's) had already gone south.

My favorite line in the article: "Central Oregon's physical attributes should buffer it against many external economic influences." That's just so cute. How the hell are mountains and rivers going to protect Central Oregon from interest rate increases and lender insolvency? But it points to people's wishful thinking.

September 3, 2007 at 9:56:00 PM PDT
Carl said...

Did you ever really think Ms. Miller was the brightest bulb on the Xmas light string?

Even the local Ch. 21 news honeys can't seem to ask a tough or weighty question.

September 3, 2007 at 10:07:00 PM PDT
Duncan McGeary said...

I think Kristy Miller's job is to ask perky and soothing guestions of local power elite and give a boost to local charities. That's probably the job description.

Maybe she should stay away from any subjects of substance....

September 3, 2007 at 10:23:00 PM PDT
Duncan McGeary said...

Gravity is going to take hold, and the local media can do their cute little running in space over the cliff, Wily Coyote thing all they want....

September 3, 2007 at 10:24:00 PM PDT

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