Friday, March 09, 2007

New Century Financial - Empty Pockets

New Century, the 3rd largest sub-prime lender in the US, is in a world of hurt. First, the rejected loan pass-throughs, then the federal investigation of fraud, and then the resulting dot-com-like crash of their stock price (see graphic). Now, with no one else's money to lend, they've finally come to the conclusion that they can no longer lend any money at all.

From Alistair Barr at Marketwatch.

'SAN FRANCISCO (MarketWatch) -- New Century Financial Corp. said late Thursday that it has stopped accepting loan applications because some of the subprime-mortgage specialist's financial backers are refusing to provide access to financing.

New Century also said that it has received $150 million worth of margin calls from its so-called warehouse lenders. It has satisfied about $80 million of those calls, but $70 million remains, according to the company.

"As a result of the current constrained funding capacity, the company has elected to cease accepting loan applications from prospective borrowers effective immediately, while the company seeks to obtain additional funding capacity," New Century said in a statement. '

Wow - got no money, got no car, got no women, so there you are. (credit Young MC for that genius line). Maybe they could get some crap-ass financing from a pay-day lender to keep them afloat.

'"The company expects to resume accepting applications as soon as practicable; however, there can be no assurance that the company will be able to resume accepting applications," it added. '

Translation: "Put a fork in us - we're done. We'll start accepting loan applications as soon as we get bought by another company. But then agian, who would want to assume our horrific portfolio?"

'Lenders specializing in such loans, like New Century, rely in part on big banks known as warehouse lenders to finance their operations. These backers require that subprime lenders meet certain minimum financial targets; otherwise, they have the right to end the business relationship.

On Friday, New Century said it had breached one of those requirements, or covenants, and also disclosed that it's the subject of a federal criminal investigation. See full story.

New Century said on Thursday that it has yet to get waivers on this covenant from five of its warehouse lenders, having made no progress on this point since Friday.

"Once you get hit with one of these crunches, warehouse lenders don't want to lend to you, so you're really done," said Joseph Mason, associate professor of finance at Drexel University's LeBow College of Business and a visiting scholar at the Federal Deposit Insurance Corp.

Mason, who recently published a study on the subprime mortgage market, said he's expecting more bankruptcies in the sector. '

The lending implosion continues. With less money avaible for mortgage borrowing, it can only hasten the demise of our giant, cancerous bubble. Bad medicine for sure, but the cure is on the way.

423 comments:

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Pedro Gonzales Gonzales said...

You Americanos have REAL ""PESO PROBLEM""...See!

Great """AMERICAN PESO""" worth schit!!!

Wipe ass with toilete paper... NO!!!!

Use Great American Peso!!!!

Piss on American Peso!!!

Yes, we have NO bananna for you!!!

Up ass, with bananna!!!

CRAZY G said...

So....Our taxes and insurance in NC, will be SLIGHTLY more than our current monthly rent!!!!

HHHAAA!!!!

You Fuck Floridians!!!!

CRAZY G said...

Coming down I-95 today, out of NC, after purchasing our house, I was AWSTRUCT, by the number of moving vans [U-haul, Penske, Budget], heading north out of Florida.....

FLORIDA, IS ""ONE"" SICK PUPPY!!!!

A ""FUCKED"" one @ that!!!!!

1 out of every 100 cars passing north was a moving van...

NO EXADURATION!!!!

Anonymous said...

90% housing price crash!!!

LOL!

Suckas!

Fukin Bassturd said...

Blood, Shit, & Guts to be running in the streets of Florida....

Fukin Bassturd, sees a holocast of homeowners, torched in their mamafukin houses...

Torches are lite....

Start the countdown....

100 bottle of beer on the wall,,,,100 bottle of beer!!!!

crazy g said...

Repeated update:

The major upscale builder of our community of $300K to $3 Million homes, is ICI....
They have numerous developments from Fernandina to Port Orange...
In our particular community ICI has listed 92 homes ready for quick delivery.....
Many sitting completed to shells of construction....

GET THIS!!!!

THIS CALENDAR YEAR...THEY HAVE SOLD ONLY """ 2 """""

That is ""NOT""" a misstype.....

>>>> """ 2 """ <<<<<

THESE GUYS ARE GOING TO BE IN SERIOUS FINANCIAL DIFFICULTY VERY SOON.... if they are not already....
Their resale division had 45 homes listed [in here]...now down by 1/3.....

EITHER THEY PICK-UP THE PACE BY SELLING MORE HOMES AT LESS PRICE...OR THESE PRICE GOUGING BASTARDS ARE GOING TO BITE THE DUST, BY THE END OF 2008!!!!

J.P. Morgan said...

I predict that the housing recession will continue thru 2008, and home prices will continue to fall thru 2009....

All you little peons, hoping to buy a cheap little shack, will get your wish...[in 2009]....

YOU HOPE!!!!!

Hope is the last thing to go.....
That was my latest, and last wife name....I think that was her name...any way...fuck her she gone!!!

Robert Toll of Toll Bros. said...

>>"""WE'RE IN DEEP DOODOOOO""<<<<

For the ladies....that's a polite way of saying, I think we're ""FUCKED""

Eve L. Person said...

A moster has been created that is going to consume prodigess amounts of capital from the 70% of the households who own their own homes..

SOME ONE HAS TO PAY!!!!

Homeowners will whale, with tears...while Eve L. Person rejoices at their miseries....
YUKE, YUKE, YUKE..............

Anonymous said...

http://bp0.blogger.com/_SfxDExxUukY/RvpYc_LhARI/AAAAAAAAAJM/Pe3JgMUfGXU/s1600-h/housingmarket_nytimes.jpg

look you florida dopes.The meltdown continues.

90% downside. So why not just give it away.

LOL!!!!!!!!!!

Anonymous said...

where's jerry's greasy face?
no longer posted.

Must of given in and bought a dozen condos.

crazy g said...

Jerry's got a place over in Franklin, NC.....less than 100 miles from where we're moving....
Someday, after we get settled in, I may just swing by and say ""HI"", and have a beer with him....
Jerry's a ""GOOD SHIT"", so I don't hold anything aginst him, for bailing on this 'blog'.....

Shithead said...

Mark your calender...

IT HAPPENED TODAY!!!!! 9/28/07

The $US Dollar broke below "" 78 """ on the index.....

IF, you don't think you're going to get "" FUCKED "" Big time....
I'll let you suck my cock....

Jus A. Dork said...

GeeWiz....

Somebody would go down on you for a dollar....

I mean, you gotta have some principals, even if your a dork like me....

Love or Money???.... I want both, and I want it NOW!!!!

I like the ""BIG TIME BOYS"""

THEY GOT IT ALL, AND THEY GOT IT ""NOW"""

AllState spokesman said...

We've reviewed the matter, and after carefull consideration we're "ONLY"" going to increase our insurance rates by 43%...

Allstate is NOT like those greedy bastards over at USAA Insurance, who are raising their rates by 54%...NO WAY!!!!

ALLSTATE KNOWS WHEN HOMEOWNERS ARE ""FUCKED""....And we mean to do something about it!!!

Yes Sir!!! We're reviewing next years rate increase already!!!!

crazy g said...

Crazy will make his analysis of Florida.....

Florida is """ FUBAR ed """"

Yes, enlightened Florida citizens...

It means """FUCKED UP BEYOND ALL REPAIR""""

Your NEXT Federal Resv. Chrmn said...

So Fed. Reserve Chrmn Ben [hole] Bernanke cut interst rates on 9/18...

""""" RIGHT """"

SO WHAT THE FUCK, DO YOU THINK HAPPENED?????

"""RIGHT """"

Interest rates on 30 year mortgages went """ UP """"
From 6.31 to 6.43%

BOY, OH BOY.....IS THIS MOITHER-FUCKER SMART OR WHAT?????

Jesus H. Christ said...

I think the BOTTOM is falling out of the currency market....

Remember when I had to chase them mother-fuckers out of the temple,

I whipped [or was that wiped] their asses....any way... I SHOWED THEM GOOD.....

""NOW"" look what them mother-fuckers are doing to Caesar's money....shit!!! everybody knows what Caesar did to his money....he debased it!!!!

DON'T TRY THITHING NONE OF THAT SHIT TO ME!!!!

Shit Head said...

Headlines in the Palm Beach Post last week said there was a 3 year supply of homes for sale....

DO YOU ANYBODY, THAT WANTS TO BUY A HOUSE????

ARM's Fucked Puppy said...

To you shitheads out there, this may NOT mean much to you...

""BUT"" the current LIBOR rate is 6.35%....

That means "MOST"" ARM's will reset with at least a plus 2.5% premium [min] to LIBOR....

NOW we are talking 8.5% to 9.0 interest rates on them mother-fuckers....

These ARM's are going to be going up their ass....

Anonymous said...

Bring back the blog baby!!!

Formerly Smart said...

I think FLORIDA is going to be having a

>>>""" CARNAGE PARTY """<<<<<

for the next couple of years

Animal Copulator said...

Contagion is spreading faster than VD...
No cure for those mother-fuckers

SELL ""NOW """ BEFORE YOU CAN'T SELL PERIOD....

R/E market is seizing..because of mortgages...

2008 SPELLS """ DOOM """

Sniffing Bottom Ends said...

I'LL TELL YOU "" EXACTLY """ WHEN THE REAL ESTATE WILL HIT BOTTOM....

ANSWER;

WHEN PEOPLE ARE NO LONGER 'FIXATED' ON IT LIKE THEY ARE NOW....

A HOUSE IS JUST A PLACE TO LIVE....
IT'S ''NOT'' AN INVESTMENT [dumb fuck]...

it's a place to live....

and when people finally give up on that idea, """ THEN "" it will be time....

Until then, you're blowing flatulence to the wind...

Caveat Emptor said...

++++++""" There is NO free lunch """++++

As John Kenneth Galbraith said:

""In the choice between changing ones mind [[[[about house prices]]]], and proving there's no need to do so, most people get busy on the proof"""

Second Glance said...

In Palm Beach County, there were nearly 1200 foreclosures in 8/'07 verses approx 500 in 8/'06,,,

AND ALSO NEARLY TWICE AS MANY FORECLOSURES AS SALES....for August..

I LIKE THOSE KIND OF SICKO NUMBERS...
Just maybe someday, in the not to distant future, prices will refect REALITY of the situation....

YouDo DaMath said...

Let me figure that out....

Let's see...1200 foreclosures in August, and 600 SFH sales...

HHMMMM!!!!

Somebody is going to end up with a SHIT POT, of houses!!!!

Anonymous said...

http://www.youtube.com/watch?v=dhRbi9vrOoA&eurl=http%3A%2F%2Fhousingpanic%2Eblogspot%2Ecom%2F

TOAST DOPES!

Bread lines forming in Flrodia hole.

Ex Lax said...

A lot of houses moving from one owner to the next..

When they FINALLY figure out how many houses they own....

""""" THEY'RE GOING TO SHIT """

Crazy G said...

""I KNOW YOU THINK I'M CRAZY...."""BUT""..

I'm going to be giving you some financial advice!!!!!

"""" BUY GOLD/silver """"

Crazy will go on record and say to you that.....

GOLD ALONE, WILL BRING DOWN THE STOCK MARKET, THE BOND MARKET, AND THE HOUSING MARKET.....

According to our Constitution, Gold/Silver....""IS"" the ""ONLY"" money allowed..."""PERIOD"""

That piece of paper in your wallet, is ""NOTHING"" more than Monopoly Money.....

YOUR ARE IN FOR A RUDE AWAKENING, IF YOU THINK THIS CAN GO ON IN OUR ECONOMY!!!!

Gold currently sitting @ $760/oz, and going much much higher

A. Revulsionist said...

When people have total distain, at the thought of owning a home, and think of it as the worst invest they could ever make, only then will it be a good time to buy.....
Remember the old carnie saying;

Fuck me once it's your fault; fuck me twice it's mine!!!!

Kevin Mcarthy, Fl. Insur. Commisioner said...

We have subpeonaed all of AllStates Insurance records...

"""THIS TIME, WE GOT THEM JUST BELOW THE PENIS.....WE GOT THEM BY THE BALLS""""

Chitlin Lover said...

Love the smell of them boil'n chitlins....
That, and a helping of tripe!!!!

UmmUnhh!!! Good eats!!!

Fill your gut up...

Tastes better than pussy, and without all the beaver fur attached...

Pour' folk bedder git y'used to eaten
da good stuff, cuz dats o'll dare gonna be able to affurd

Crazy G said...

History is REPLEAT with fiat currency failures...

"""EVERY ONE HAS FAILED"""..Period

""IF"" you think this one is different???...

Stock up on U.S. Dollars....

Foreign Central Banks are!!!!
They got $$$ TRILLIONS $$$ of your/our dollars and they just don't know what to do with them????....
During the Weimar Republic days, people burned them, because they were cheaper than wood....

Get This said...

Out in Stockton Ca., they are promoting the sale of foreclosed houses with """ BUS "" tours...

Can you imagine, riding around in some luxury bus, drinking martinis, getting a free lunch, and looking at piles of shit real estate, that somebody puked on!!!!

God damn.....ain't America great..
You can feast on somebody elses bones, with a little bite of KC bar-b-que sauce, have a party....

Your worst nightmare said...

First; your having the collapse of residential real estate..
Second; You'll have the collapse of commercial real estate, which is dependent on consumers..

"""THEN"" you'll have..

-Real Estate Owned [reo] by banks rising
-Collapsing real estate values, as banks take on more foreclosures
-And finally, falling credit demand, to buy all this ""SHIT"", as prices collapse...

IT'S ALL GOING TO HAPPEN...

THE AMERICAN CONSUMER IS SO FUCKED, AND THEY DON'T EVEN REALIZE IT YET!!!!

Short Dick, LONG Memory said...

Remember 15 years ago or so,,,,,When the Japanese banks didn't take losses on the residential/commerical loans???
They just held these "NON-PERFORMING"" loans on their books.....

WELL DICK HEAD!!!!

WHAT THE FUCK DO YOU THINK IS HAPPENING THIS VERY MINUTE IN WASHINGTON.....PAULSON DOESN'T WANT THE TO TAKE LOSSES!!!!

NOW WE HAVE A SEPERATE FUND FOR THAT....NO LOSSES

Crazy G said...

Just another crazy idea, from crazy!!!!

Just maybe, we could encourage builders to "DE-CONSTRUCT" houses...

To many homes on the market are ruining the prices....

SSSSOOOOOOOOOO!!!!

UN-BUILD a few?????

Crazy g said...

""IF"", you think things out there are crazy NOW....Just wait 6 mos...

According to a Bank America chart....Nov '07 mortgage resets, totalled $60 Billion.....and are headed higher, untill they peak out in Mar '08 @ near $120 Billion....

YOU BETTER BUY YOUR TAMPAX NOW, BECAUSE THERE IS GOING TO BE A LOT OF BLOOD RUNNING IN THE STREETS!!!!

Julian Robertson said...

A prominent figure in the hedge fund industry, Julian H. Robertson Jr., said yesterday that the economy was heading for a “doozy of a recession.”

“I think the credit situation is worse than anybody realizes,” he said on CNBC. “I don’t think any of the normal indicators you would look at in the economy are really very strong. As a matter of fact, they are weak, and not really getting any better.”

The reporter, than asked Mr. Robertson, 'if' had ever heard of a person named Crazy G., who had been forecasting a 'major recession' now for more than a year.....

Mr. Robertson, responded saying..
"Yes, that's where I get "ALL"" my business forecasting from"...

God said...

TO many houses down there on earth....

""I THINK I'LL START A DROUGHT, THEN A FIRE, AND BURN THEM MOTHER-FUCKERS DOWN""...

Then, them dumb-fuck humans, will give thanks, that I saved their lives????

Jesus Christ, wouldn't even have believed how stupid, I made these people!!!

crazy g said...

IPRE reports there are 24,882 homes for sale in Palm Beach County.....

GET THIS; "" 482 "" sold last month....

You do the math shithead...

>>>"""FLORIDA IS TOTALLY FUCKED""<<<<

Crazy g said...

MAN!!! I'm in my glory hole!!!

Watching the implosions/explosions of the real estate market

WHAT A FUCKING MESS!!!!

AND IT'S JUST BEGUN TO ROLL OVER...BIG TIME!!!!

Hunker down...and get to the smell of burnt & fried flippers....
It's going to smell worse than the bullshit the realtors have been dishing out the last couple of years....

THIS MOTHER FUCKER IS GOING TO BE A LLLOOONNNNNGGGG ROW TO HOE!!!!

Crazy g said...

Yes!!...it's true..

I truly am optimistic about the future.....

"""THE WORST IS YET TO COME""

This mother-fucking nightmare ain't going to end till sometime in 2012/13.....

All the major builders are lining up to see who can have the biggest losses....a few maybe headed for bankruptcy.....

The coming recession/depression will go on for 20 years or more....
NO AMOUNT of Federal Reserve rate cutting is going to put humpty-dumpty back together again...

PEOPLE HAVE TO MUCH DEBT NOW, AND ENCOURAGING THEM TO TAKE ON MORE, IS ""NOT"" THE ANSWER...

Florida is totally fucked!!!!

"""THERE WILL BE TEARS""""

Senator Charles Schumer said...

``State by state, the economic costs from the subprime debacle are shockingly high. From New York to California, we are headed for billions in lost wealth, property values and tax revenues.''

We realize the american consumer is totally fucked, ""BUT", we are going to have to raise the taxes in order to cover the lost revenues we are experiencing...
Jesus Christ...the money for all these boondoggles has to come from somewhere....What the fuck do you think!!!!

Blood Hound said...

I'm smelling blood from a fresh kill....

“The median price for a home in the Sarasota-Bradenton market has dropped $109,200 since the beginning of 2006, based on the September sales report by the Florida Association of Realtors. Back in January 2006, the median was $353,500. Now it is 31 percent less.”.

>>>

A. Hire Authority said...

For sale: 2 million empty homes
Number of vacant homes on the market nationwide equivalent to all homes in Detroit; another sign of weak housing market.

===================================

In our 'reverse rental plan', we hire some latinos to move into your house, and when they leave, your house will be gone....

NO FINGER POINTING, NO QUESTIONS ASKED/ANSWERED!!!!

Over A. Barrell said...

In the not to distant future, delinquent home owners will have lenders over a barrell....

WHY/HOW...you ask???

"IF", congress passes this new legislation, exempting home owners from being taxed on forgiven debt...

"""ALL MOTHER FUCKING HELL IS GOING TO BREAK LOOSE""""

HOME OWNERS WILL JUST STOP PAYING THEIR GOD DAMN MORTGAGE!!!!

Many have ""NO"" downpayment, nor equity....""PERIOD""

DO YOU THINK, FOR ONE MOTHER-FUCKING MINUTE THE BANK IS GOING TO WANT MORE FORECLOSUERS.....

""""FUCK NO"""

The bank will be upto it's mother fucking ass in REO's...

THE DEBTOR WILL BE IN THE DRIVERS SEAT!!!!!

HOLLY FUCK...WHAT DID YOU JUST SAY!!!!

THE DEBTOR IS GOING TO BE TAKING THE LENDER TO THE CLEANERS!!!!!

The 'bank, is going to be kissing his/their mother fucking ass, begging them to make any kind of payments that they will agree to!!!!

REMEMBER...YOU READ IT HERE FIRST!!!!

>>>SHITHEADS!!!<<<<

Crazy g said...

Rumors have been spreading, and YES!!!.....It's TRUE....

I've been consuling with my advisors here in the institute, and we are weighing the chances and opportunities of me running for President...

We were about to call a press conference, with all the reporters etc showing up, but my therapist wouldn't let them in...
SHE SAID.....IT WOULDN'T BE SAFE FOR THEM TO STEP INSIDE THIS INSTITUTION....

I told her, all that blood was from the flipper-buyers who had bleeding hemeroids...

At that point, she removed my straight jacket, and sat me down to lunch of blood soup, and head cheese.....yuke!!!

I guess I'll have to wait till 2012 to make my run!!!

Jesus H. Christ said...

Soon, you will be with me in """"Florida's Paradise"""..

2 houses for every Florida resident...

Abandoned cars, and vacant houses abound...habitants saw the coming armagedon, and ran for their lives..leaving mountains of debt along with their trash piles...

Why attempt to buy a house, when you can choose from any number of vacant homes, sitting with 'bank owned' signs adorning their front yards...

Move-in ready with your lawn chairs and bar-b-que grills, and enjoy the marvels of defunct florida builders

Kevin Mcarty, Insurance Commissioner said...

OOHH YAH!!!

I forget to tell you, that I approved a 2% sur-charge on ""ALL""" Florida homeowner policys yesterday....

THAT'S RIGHT....EVERYBODY'S HOMWOWNER POLICY IS GOING UP 2%...

You know what the story line is by now....everything is going up....
I learned that from my realtor friends...

ISN'T LIVING IN FLORIDA GREAT!!!!

Jesus H. Christ said...

"Holy Fuck Barrabas, I glad I'm getting out of this mother fucking paradise, called Florida"""

"Poor fuck heads here think they had paradise, and that's all they got was a head job""

Crazy g said...

IT'S OFFICAL:

>>>>""TODAY"""<<<< I'm outta here!!! Movers are coming, and we're heading to NC....

TO MUCH MONEY TO BE LOST DOWN HERE....AND AS THE PALM BEACH POST ARTICLE STATED....."""FEAR PERVADES"""....

AS I HAVE SAID MANY TIMES OVER...


>>>"""THERE WILL BE TEARS""<<<<

Crazy G said...

Hey Shithead!!!!

You better buy that mother-fucking house REALLY REALLY QUICKLY!!!!

YAH!!!!

BECAUSE!!!! In 6 mos or more, the mortgage market is going to freeze up....

>>>""""YOU WON'T EVEN BE ABLE TO GET A MOTHER-FUCKING MORTGAGE TO BUY THAT PIECE OF SHIT, THAT'S GOING TO DEPRECIATE 50%..."""<<<<

Those houses may go down in price....

"""BUT""" You ain't getting ""NO"" fucking mortgage from anybody!!!!

>>>"""PERIOD"""<<<

Unless your grand-daddy got's some $100 bills stuffed up his ass!!!!

Jerry Palmroos said...

Hey guys! I apologize for my absense, but I had business to take care of, getting Florida on track...
Unfortuantely, my endeavers have done no good, as this 'jerk' has taken over my beloved website..
I promoted this website, because I thought it just may help enlighten people to how bad the situation is, in Florida, but, it has only gotten worse....
I'm close to despair, and have been seeing a Doctor..Unfortunately, he too, has turned against me, as his house is For Sale also...
If I don't get some help soon, I'll be going crazy!!!
Oh God...I don't want to be like him!!!

Charlie Crist said...

""""I feel great about the economy""...as he left a political fund raiser in SW Florida...

“Economic numbers in the region are not quite as positive.

Taxable sales are declining,

Housing permits are down 70 percent,

Unemployment is on the rise

Business bankruptcies have doubled in the last two years.”

OTHER THAN THAT....EVERYTHING LOOKS FUCKING GLORIOUS!!!!

Charlie Crist said...

I don't know if you read about in the Palm Beach Post or not, but, I've broken up with my girl friend.....
I'm getting horny as hell, and if you know of anyone, who wants to date an "Executive Type"....[like me]...post the name here, and I'll have my 'security agents' pick her, and check her out, before they bring her up here to Tallahassee....
We wouldn't want your 'chief executive' getting any STD's you know!!!!

Crazy G said...

I'm still following the real estate crash in progress.....

PRICES ARE DEFINETLY BEGINNING TO SLIDE....."""BIG TIME"""..

Neighbors townhouse across the street from where we used to live, was originally listed for $269K, a year ago.....""NOW""...$200K

ICI, the builder/developer of the development complex, has """STILL"" only sold """ 2 """ homes this calender year.....

>>>>""""" THE REAL ESTATE MARKET IS SLIDING INTO A SHIT POT""""<<<<<<<<<

Crazy G said...

My wife was a Florida school teacher, and her retirement fund, has lost nearly $3 Billion in this mortgage mess...
YES!!! 5% of their assets up in smoke.....
And the crisis hasn't even begun yet!!!!

NOT ONLY IS THERE GOING TO BE TEARS, THERE IS GOING TO BE """FUCKING"" TEARS

Little Turkey said...

""The sky is falling""

We are certainly headed for total financial meltdown!!!

Turkey shit, is flying everywhere!!! Just pick-up the paper, and whip your ass with it...

"""CASCADING CROSS DEFAULTES""" are going to be coming to your local bank!!!!!

Crazy G said...

""TRUE STORY""

1 1/2 yrs ago, we looked at a house in Volusia County Fl., priced @ $324K....I asked "IF" the seller was negotiating...she make an offer...
I said you didn't answer the question....she said make an offer....I said "Thanks anyway""..

Fast forward....house is ""NOW"" listed for $234K...."""accepting all offers"""....

Back then...I thougght that $250-280 would have been acceptable.....NOW...I'd say $150-170K....
Moot point...we already bought in NC....

Crazy G said...

Hello....Helllooo..........Hellllooooo......

Is there anybody out there...outtt theereeee....ooouttt thereeeee!!!!

Can you hear me...hearrre mmmeeee....

||||| YAH I CAN!!! SHUT THE FUCK UP!!! |||||

Blind Sided said...

HOLY FUCK!!!

The taxpayer monies, collected by different government agencies, ushered off to the State Trust fund for holding, and administrating...just went up in smoke....
Some cities and counties may NOT have enough money [previously collected] to pay their employees....
Or pay contractors for work done, after having been funded!!!!

TAX INCREASE TIME, INSTORE, FOR SOME FLORIDA RESIDENTS...

Holy shit said...

They're playing with my mind

I'm NOT really bi-polar...

The world just looks that way to me

Crazy g said...

As we move into the new year, you will be witnessing the TOTAL collapse of our banking financial system.

Our 'dumbfuck' bankers, went and lent $$$TRILLIONS$$ of dollars to people who 'they knew' could not afford to pay it back...

It's a condition of solvency...

THEY'RE BANKRUPT.....

Citicorp, Goldman, Lehmann, Bear Stearns, Morgan Stanley, JP Morgan...Your local /regional banks...

DEAD BANKERS WALKING/TALKING TELLING YOU IT'S CONTAINED....[[[[[[TO THIS PLANET???]]]]]]

The whole "X" generation, just got ""X""ed out....
This will be a 20-30 year event, that many will take to their grave....

Capitalist Tool said...

THE CAPITALISTS HAVE DOOMED CAPITALISM.....

They have taken all the money, and doomed the rest....

LONG LIVE CAPTIALISM!!!!

or at least as long as you can make your GOD DAM mortgage payment!!!!

Karl Marx said...

"""THE SOUTH WILL RISE AGAIN""""

"Only this time, we will have Mexican slaves....and they will have blacks as their servants"""

socalpa said...

Crazy,I sincerely hope this blog is ressurected.comments have been priceless.Have a friend in Tampa,boughtSFH,multiple condos in 06,ceased all contact one year ago.Is the devils Triangle moving west?Absorbing flippers?Theories? Anyone !!!!!!

Charlie Crist said...

YUPP!!! I talked to my legal boys up here in Tallahasse, and we're gonna do it.....

WE'RE GONNA SUE THEM MOTHER FUCKERS....You know!!!! The insurance companies.....

""" I put my political reputation on the line for them sons O'bitches,,,,,and what did they do,,
STABBED ME IN BACK"""

""I'M GOING TO GET THEM FUCKERS...||GOOD||""""

When I'm done with them, there won't be no fucking insurance for anybody in the Great State of Florida....

The trouble with them guys....they just don't know who their fucking with!!!!

Holy Fuck said...

Arnie & Charlie, must be comparing notes or something....

California is going into total melt-down, and Florida is headed in the same direction sniffing their ass....

Banks in Florida will be going into seizure soon.....National City, which recently bought Fidelity, and Harbor Federal, has already written off nearly $1 Billion in mortgages, and the contagion hasn't even begun!!!!!

Dave Rosenberg of Merrill said...

I just raised the 'ante'....

You want to get into this mortgage default game, you gotta bring more ""mulla""

""I RAISE IT TO $500 BILLION"""

Winner take ALL.....

Bring 'cash" to the table.....none of them fucking credit cards here, boy!!!!

crazy g said...

SoCalPA reply:
SoCalPA, the chances of this website getting resurrected, are about the same, as a second Viagra pill working.....

JERRY, JUST CAN'T GET IT UP ANYMORE!!!!!

We moved to No. Carolina....It just got to fucking depressing down there...

Jerry was RIGHT....Paradise """ IS """" lost!!!!!

Crazy g said...

SoCalPA reply;

Jerry, lives in Tampa...

"""IS HE YOUR FRIEND????""""

I ain't got no friends....
"""BUT""" I >>>KNOW<<< who my enemies are!!!!


ARE YOU ONE OF THEM????

Like Charlie Crist????

I'm here from the government, and I'm here to help!!!!!

Time Magazine said...

We were going to name Crazy G, """THE PERSON OF THE YEAR""", only we couldn't verify, if, he/she was REALLY a ""CRAZY"" person...

CRAZY G said...

Jesus Fuck.....

Time magzine named the ""LOONIE""", the {{{{newsmaker}}}}} of the year.....

ROTFLMOA....LOL!!!!

Holy Fuck said...

This mother-fucking subprime crises has spread all the way to Kazakhstan.....Mother fucking bastards on Wall Street sold this shit halfway around the world....

Banks over there, are having a lending freeze because of the subprime crises....

>>>""HOLY FUCK """<<<<

http://www.bloomberg.com/apps/news?pid=20601109&sid=a9JvG0_2m3Qs&refer=home

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Crazy g said...

WELL!!!!

Merry """ FUCKING"" Christmas to you too!!!! AssWipe!!!

crazy g said...

Crazy gives his best wishes to all the fuckheads down in the mother fucking stink hole of Florida, and hope you lose you god-dam ass on real estate so you too can get the fuck out of there...
Hope is the last thing to go....and if you hoping to not lose you ass....you deserve to lose you ass!!!!

Crazy g said...

Jesus Fuck!!!! The god dam disease is spreading everywhere...

A major bank up here in NC, GA, & TN. is having major problems

UCBI [United Community Bank] took a $50 Million dollar hit...

Reports are that the Atlanta area is in total collapse, and that's where UCBI has there major market..

Banks down in Florida, will probably take the same type of hit....but, it will probably be much, much worse.....

YOU POOR FUCKING BASTARDS DOWN THERE.....YOU'RE GETTING UP THE ASS, AND DOWN YOUR GULLET, AT THE SAME TIME

Prof. Robert Shiller said...

Let's see...I'm looking into my Case/Shiller futures index, and it says real estate in Florida is going down 35%, in the next 5 years.....
THOSE POOR FUCKING BASTARDS DOWN THERE ARE SO FUCKED, I CAN'T BELIEVE IT...."""BUT""""....
THE BEST PART IS THEY DON'T WANT TO BELIEVE IT!!!!!

Happy fucking New Year to you asswipe!!!

55 & over said...

YYEEEEHHAAAAA!!!

You got it....Over 55 mos supply in Palm Beach County.....
57, according to Illustrated Properties Realtors....

Mother fuckers are going to be old as them fucking hills before they sell them mother-fuckin houses....

LMAFAO!!!!!

You poor fuckers down in Florida!!!!

Captain Blye said...

""ABANDON SHIP....ABANDON SHIP""""
It's going down....It's going down!!!!

errr!!!! whoops!!!!


Abandon houses...abandon houses....
They're going down...they're going down!!!!

Jack McCabe said...

“‘Nobody talks about it,’ said analyst Jack McCabe. But ‘there’s 55,000 homes for sale in Palm Beach County alone.’”

[[[[[[ Draw a redline around that mother-fucker....Palm Beach Cty, is NOW in the 55 & over group ]]]]]

another 1 bites the dust said...

Orleans Homes, just dumped Florida.....

YUP!!!! Unload 1480 lots, most of which are in Fucked-up Florida....

There'otta there, for the good; the bad & the ugly......

CRAZY G said...

Get this one fuck heads....

Real Estate prices in """"PALM BEACH"""

Went up 24% in 2007....

YOU FUCKING PEONES ARE SUCKING HIND TIT!!

Trea. Sec. H. Paulson said...

“After years of unsustainable price appreciation and lax lending practices, a housing correction is inevitable and necessary”
===============================

WELL!!! Fuck me....Crazy G. Has been saying that for a couple of years NOW!!!!


FINALLY...Some asshole from the Government concurs!!!!

Krispy Kreme CEO Daryl Brewster said...

"""I had my fill of those fucking things, and my family has all become fat little fuckers, from eating their fill[for free]....
I QUIT.....""""

Crazy g said...

Crazy told you more than a year ago, that the trapped rats, were going to burn them mother-fuckers down!!!!
Well!!!

http://money.cnn.com/2008/01/09/news/economy/birger_arson.fortune/index.htm

SMOKEM!!!!!

Jerry Palmroos said...

When I opened this blog, our "MOTTO" was;

>>>>Will Florida ever become an affordable place to live again? Only time will tell, and you'll be able to read about the journey (to sanity, or maybe not) right here<<<<

As it says in our opening statement!!

Well!!! I NOW think, you gotta be FUCKING NUTS to live in Florida!!!!

Lizziebreath, and SKB are toughing it out, renting, and hoping for the best, while Crazy G, has got the fuck out of here, and bought himself a place in NC....
Who's Crazy??? Or better yet??? Who's a fuckinbg idiot for staying here????

Gov. Charlie Crist said...

Boy oh-boy, did we show them fuckers a thing or to, about screw'n people....
Them boys at "HAUL-STATE" Insurance, have been loading up on your money...
I had Kevin Mcarty cut-off his dork, just to show them we're not fucking around with them anymore!!!

As far as Florida homeowners are concerned....
WELL!! They'll just have to buy it from the highest priced company in Florida...And IF they have to ask how much it costs, then maybe they shouldn't live here!!!!

Crazy G said...

Face it fuckheads....

Florida doesn't have a ""REAL"" economy....It's mostly tourism, and construction, and snow birds..

""IF"", the US, goes into a recession/depression, as it almost most certainly is currently, Floridians are going to be hurting BIG TIME.....

THAT'S WHY I [CRAZY G] GOT THE FUCK OUT OF FLORIDA....

And YES!!! Fucked Floridians!!!!

>>>""THERE WILL BE TEARS""<<<<

CRAZY G said...

Florida Fuckheads, thought; the way to get rich was to borrow!!!!

They bought Mega-crips, to die in....

They are going to suffocate, in desperation, to the sultry Florida sun...

FRY YOUR ASS FLORIDA FUCKHEADS!!!

Crazy G said...

Sub-prime shit, made it's way, all the way up to the Artic circle...

Norway, of all places, bought sub-prime slim from CitiCorp...

Crazy's advice is NOT to take a trip to Norway....
They'll remember the greedy Americans

Crazy G... eorge Soros said...

Billionaire investor George Soros said the world was facing the worst financial crisis since World War Two and the United States was threatened with recession, according to an interview with the Austrian daily Standard.

"The situation is much more serious than any other financial crisis since the end of World War Two," Soros was quoted as saying.

He said over the past few years politics had been guided by some basic misunderstandings stemming from something which he called "market fundamentalism" - the belief financial markets tended to act as a balance.

"This is the wrong idea," he said.

"We really do have a serious financial crisis now."

Asked whether he thought the United States was headed for a recession, he said: "Yes, this is a threat in the United States".

He added he was surprised how little understanding there had been on how recession was also a threat to Europe.

European shares fell nearly 6 per cent on Monday, their biggest one-day slide since the September 11 attacks of 2001, as fears of a US recession and more write downs in the financial sector sparked a broad-based selloff.

Crazy g said...

>>"""ALL IS NOT LOST....JUST DON'T KNOW WHERE THE FUCK IT IS""<<<<

US Postman to Bank V.P said...

"""I'VE GOT MORE JINGLE MAIL FOR YOU TODAY"""

What are you ever going to be doing with all those car and housing keys you have piled on your desk????

Oh yes!!! Here's that new book you ordered..

>>>"""AUCTIONING FOR DUMMIES"""<<<<

Crazy g said...

Remember the time Crazy said that alot of those empty houses would get bulldozed....WELL, guess what????
Alot of those empty houses ""NOW"" have black mold in them.....

HHEEHHHEEEEEEHHHHEEEE!!!!!

BURN'M OR BULLDOZE'M BOY'S ARE ON THE WAY!!!!!

Stephen Kroft of 60 Minutes said...

"If you're underwater on your house debt..."FUCK'M....Walk away""

Crazy g said...

HHHaaaHHHHHaaa!!!

I got #300
[and most of the preceding 299]

I'm having a great time, watching Fucked Floridians die on the vine....
Consenus is that florida is already in a recession.....Die mother fuckers die....a slow painfull death, you RIGHTLY deserve

Anonymous said...

Today, March 9, 2008 marks the first anniversary of Jerry Palmroos' great demise...

This day one year ago, Jerry made his last posting....

Sorry to see you go Jerry, but, Florida is one big mess without you ....

I hope you found your Paradise, where ever it might be!!!

Anonymous said...

HOT FUCK....
Everything Crazy G predicted has come true...
The worst is yet to come, as of this writing.....Housing market will bottom in 2012, and the stock market will bottom in 2014...
Total financial collapse of our government is at-hand....somewhere between 2010-2015...Prepare for a new and better life......starting with a new form of government by 2020..Where we won't have Democrats or Republicans....
We'll finally rid of those leaches

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