text:
It's getting a bit surreal, reporting on the housing devastation underway. Who'd of thunk it'd happen so fast?
Sure, we've still got some corrupt fools out there cheerleading, or saying we'll get right back to party-on in just a couple of months (Lereah, Appleton-Young, the corrupt idiot at Harvard, Bernanke, etc).
But you can't hide from reality, and the reality is that the greatest Ponzi scheme of all time is over, only an ignorant fool would be out buying a home today, and prices will now drop right back to (or below) the historic mean.
Here's the view from LA, of a meltdown that has now spread nationwide, soon to be worldwide.
So I guess it's official: The real estate market is tanking. On Monday, the National Assn. of Realtors reported that, for the first time in a decade, the average price of a U.S. home actually declined. In California, sales of existing homes in August were down 30.1% from August 2005, which is the steepest year-over-year drop in almost 25 years.
But like children, houses are highly efficient delivery systems for denial. Just as no parent would admit that his or her offspring — no matter how costly, ill-behaved or intimately acquainted with the juvenile justice system — is anything other than a source of unmitigated joy, people who own their homes will tell you that the market is just fine. Best to listen to National Assn. of Realtors chief economist David Lereah, who said in a quote in this paper Monday: "This is the price correction we've been expecting — with sales stabilizing, we should go back to positive price growth early next year."
Hey, great! Problem is, that same article also quoted another economist who said that "the speed of the collapse has been astonishing" and predicted "no chance of any short-term relief." Translation: If you're a renter, you now have permission to be as self-satisfied as the homeowners who once taunted you with their dizzying appreciation rates. As for us owners, we can just cover our ears and sing "Correction! Correction! I can't hear you!" until things start looking up again.
Call it a correction or call it a crash. Either way, the party's over.
Posted by blogger at 9/30/2006 20 comments Links to this post
FLASH: Motley Fool picks up HP's fatwa against Nicolas P. Retsinas, the corrupt director of Harvard's Joint Center for Housing Studies
This, HP'ers, is our finest hour. Motley Fool has picked up our post from Wednesday, HousingPanic calls for the immediate firing of Nicolas Retsinas, Director of the Joint Center for Housing Studies at Harvard University
HP I believe is doing good work. The HP community (and eyes and ears) is having an impact. David (HP and the bubble blogs) can beat Goliath (the evil and corrupt REIC).
And maybe one day this madness will end, and houses will again be places people live in, and young kids out of college can save 10% down and get a 30-year fixed mortgage, a house they can enjoy, appreciation at the rate of inflation, and a payment they can live with.
Cheers to all of you. And please email this post to Harvard's President Derrick Bok (derek_bok@harvard.edu).
Here's Seth's article. Big hat-tip for picking up the ball and running with it.
More "impartial" commentary on the housing bubble I owe another hat-tip to my buddies at the Housing Panic Blog. These folks are even more up in arms about the funny doin's transpiring in the real-estate industry than I am, and I don't share all their views, but I do think they've got an interesting point today. Let's set the stage.
Harvard. Ivy League, home to Biff, Buffy, and Chet. Warm scarves and deep thoughts. A place where we can trust the research as the work of independent-minded eggheads, right?
I wouldn't be so sure. Today, we see a strange article by one Nicolas P. Retsinas, director of Harvard's Joint Center for Housing Studies (JCHS). In it, he seeks to reassure a nervous and gullible public that all is well with housing. Prices won't drop too much, he claims, and the overall economy is not at risk.
Oh, really? Oddly enough, he doesn't cite any data to support these contentions. Well, maybe that's not so odd. Recent numbers from no less a home-selling partisan than the National Association of Realtors (NAR) show that prices are already dropping, not only in bubble-afflicted coastal areas, but in the previously believed-to-be-safe Midwest, as well.
But Retsinas shrugs past this. "Demand," he claims, was the reason for rising prices, and demand, he says, is still here.
Demand doesn't exist in a vacuum. Let me be blunt. I find this is a stupid argument. Dangerously, irresponsibly stupid.
Why would he pump out to the press a defense of the bubble without a single, salient data point to back it up? What's the motive?
I think the answer might be found in the cozy relationship between Harvard's JCHS and the home-building, -selling, and -supply industry.
I've got a message into Harvard to find out just how much dough is changing hands here. If it's much more than a pittance, I consider that an interesting -- and by interesting, I mean scandalous -- conflict of interest.
HousingPanic Multiple Choice Quiz: Pick the Most Incompetent and Corrupt Sleazeball
Japan historic land price chart versus the US today - where are we now?
If you knew your number was wrong and overstated every month, wouldn't you try to fix it?
You know that new homes sales report that we mock every month, where they report houses sold and then revise the number downward every month? Here's how it looks charted - thanks to Mish
* Report the number - check
* US media run with it as fact - check
* Fool Americans into thinking it's not as bad as it is - check
* Revise to correct number - check
* MSM doesn't report the correction - check
* American's remain clueless as to what's really going on - check
* Let out a diabolical laugh - ba ha ha ha, bah ha haha - check
Ah, the financial stupidity of home sellers: Thinking their price has anything to do with what they paid or what they need
This widespread problem, where sellers think they "deserve" a price because that's what a neighbor got last year, or that they're at their "rock-bottom" price because that's their break-even number, well, got some bad news.
Pricing is a function of what the market will bear at any given time folks. Not what you "deserve", not what you "need to get". Here's a report from in-full-meltdown-mode Chicago:
It's pretty amazing how fast the reversal has occurred since last year," said David Stiff, chief economist at Fiserv CSW, a property-data analysis firm in Boston."There has never been such a quick deceleration in price appreciation," Stiff said. "I was looking at data from 1969 forward, and it's unprecedented."
Not so, said Tommy Gentile, who has been trying to sell his five-bedroom home in west suburban Montgomery for about six months. He has reduced the price by $20,000, to about $380,000, leaving little wiggle room.
"That price is pretty close to rock-bottom, as far as money we've put into it," he said of the house, bought two years ago. "We have to get our money back because we've bought another house, and we're remodeling that one. We have two mortgages.
"Few people are coming to take a look" Gentile said. Between competition from home builders offering incentives to close out developments and about 10 neighbors who also have their homes for sale, it's a struggle to attract interest.
Now they're starting to get it over here - Telegraph UK: US housing crash could bring UK down with it
Not sure what took 'em so long, but the UKMSM is now putting the pieces together. Next step is for the housing-ponzi-scheme-obsessed-real-estate-never-goes-down UK "investor" crowd to get it too. That subtle change in psychology where doubt and then fear enters their minds, and the realisation that they need to 1) stop investing and 2) get out at the peak.
My 1-bedroom London flat would list for $1.2 million. I'd say it's fair value is around $350,000. You know the drill.
Here's the Telegraph article, a good first step, but the writer still doesn't understand it's not just the slowing economy that'll crush the UK - it's the end of the UK housing ponzi scheme, bigger than the US bubble, combined with the slowing economy, that'll bring the country to its knees.
If you'd like to help the author get it, you can contact him here (edmund.conway@telegraph.co.uk)
US housing crash could bring UK down with it
By Edmund Conway, Economics Editor
Peter Warburton, who runs a small consultancy called Economic Perspectives, believes that the UK will slump into a full-blown recession next year, shrinking by some 0.3pc over the 12 months. This would be the worst economic performance since 1991, the last recession, which came amid Britain's ignominious ejection from the European Exchange Rate Mechanism.
Mr Warburton - a member of the Shadow Monetary Policy Committee - warns that the UK will be badly hit by a US housing market crash.
He says: "There is an increasingly large possibility of a scenario where, frankly, economic activity could fall quite materially. In short, I do not believe that the UK has become a more stable economy."
His thesis is that for the past decade, despite its stable growth rate and low inflation, the UK economy has been brewing up potential problems. These include the record level of debt taken on by the household sector, a similarly large jump in government borrowing and a fall in manufacturing output. If, as many experts predict, the US suffers a housing market collapse next year, this could trigger an even more dramatic downturn in the UK.
Iamfacingforeclosure.com kid's new defense: Everybody is doing it - just ask your mortgage broker!
His blog is the gift that keeps on giving and a great read. Casey, if you're reading this, keep on blogging. Your mindframe as you secured your $2.2 Million in liars loans, and how you got to the point you're at today, is continually fascinating, and is the perfect color commentary to fill in the housing bubble story.
Here's the latest. He also talks about HP'ers being hard on him in the full post
How "Illegal" is it REALLY?
When I mentioned the way I did my loans, I didn't think much of it. I was just being open and honest and shared everything I did - hoping it will help somebody. Yes, on these loans I was technically misrepresenting things like income, cash at closing and owner-occupied issue.
But if you know anything about the state of today's lending industry you will agree that what I did is nothing out of the ordinary.
For more information, see this News Article on Liar Loans or just watch the Liar Loan video. (Now compare to this Wall Street Journal article on the Real Mortgage Fraud). While personally I have always had MORAL issues with these loans, the reality is that Liar Loans are pretty normal.
* Everybody is doing it - just ask your mortgage broker!
* Lenders/banks allow it and turn a 'blind eye' to it.
* The account executives at the banks actually tell the mortgage brokers how to 'sugar coat' the application.
* Lenders make a killing on EXTRA INTEREST and fees for stated income loans - you pay to lie.
Lenders package their loans and sell to mutual funds on wall street. The extra default rate on LIAR LOANS has been pre-calculated. The extra risk is accounted-for in most cases.
For those who are still judging me, I will just say this:
How many of YOU have 'stolen' a music CD or software program by burning a copy of it? Did you NOT know that it's ILLEGAL?
I just had to post it: Rep. Mark Foley (R) Resigns Over Sexually Explicit Messages to Minors
Why is it always the congressmen and religious leaders who are into the freaky stuff?
HP recommendation: Vote Every Incumbent Out (especially the sicko two-faced hypocritical right wing "family values" ones...)
Saying he was "deeply sorry," Congressman Mark Foley (R-FL) resigned from Congress today, hours after ABC News questioned him about sexually explicit internet messages with current and former congressional pages under the age of 18.
A spokesman for Foley, the chairman of the House Caucus on Missing and Exploited Children, said the congressman submitted his resignation in a letter late this afternoon to Speaker of the House Dennis Hastert.
Hours earlier, ABC News had read excerpts of instant messages provided by former male pages who said the congressman, under the AOL Instant Messenger screen name Maf54, made repeated references to sexual organs and acts.
I would have preferred a noose...
History will not be kind (to either)...
Charming fixer-upper, cozy interior, wonderful investment for young couple, home prices never fall
Woof.
Ladies and Gentlemen, the new National ID Card of the United States of America
Don't furnish a home without it
Posted by blogger at 9/29/2006 9 comments Links to this post
BUBBLETALK - September thread to discuss the epic housing meltdown underway
Post housing bubble articles here, talk about off-subject topics (in other words, don't threadjack the following threads) and have a good chat. Above all, KEEP IT CLEAN and have fun
Posted by blogger at 9/29/2006 543 comments Links to this post
Squaring the circle: The two-faced NAR pawn David Lereah's "there is a bubble - there isn't a bubble" confusion
Reading the corrupt Mr. Lereah's latest musings on the bubble, where he "predicted" all along that we'd see an "adjustment", and that we've "now hit bottom", I was reminded of the NAR talking points he put out in December 2005 that said frankly there was no bubble.
Here's the corrupt Mr. Lereah earlier this month:
"We've been anticipating a price correction and now it's here,'' Lereah said. "The price drop has stopped the bleeding for housing sales. We think the housing market has now hit bottom.''
"The housing boom ended more than a year ago, but sellers are having a tough time accepting that fact, says David Lereah,
Yet here's highlights of the NAR's "there is no housing bubble" talking points he put out in December 2005, for use by his army of 6% minions to convince the last suckers in that their investments would be safe.
Let there be no confusion HP'ers (and the MSM who love to rip-and-read his stuff): David Lereah is a seriously corrupt, never-to-be-trusted, completely discredited pawn of the NAR and REIC.
What is a housing bubble?
As broadly interpreted, a housing bubble refers to an unsustainable gain in home prices. The premise is that a price bubble is at risk of "popping," resulting in a loss of equity.
Has there ever been a national housing price bubble?
No, not since good recordkeeping began in 1968. There was a national decline in the 1930s during the Great Depression; however, home prices were not a prime concern in that era. The greatest issues were essentials such as food, clothing, employment and shelter of any kind. Declining home prices were a natural result of a general economic collapse caused by the stock market crash in 1929.
Should we be concerned that home prices are rising faster than family income?
No. There are three components to housing affordability: home prices, income, and financing costs – the latter are historically low.
What are the prospects of a housing bubble?
There is virtually no risk of a national housing price bubble, based on the fundamental demand for housing and predictable economic factors. It is possible for local bubbles to surface under the right circumstances, but that also is unlikely in the current environment.
If conditions become unfavorable, home buying may be postponed, but a general price decline remains highly unlikely.
What is likely to happen with home prices?
The forecast is for mortgage interest rates to rise slowly over the next year, which will have a minor breaking effect on home sales. The good news is that will help inventory levels to recover and allow the market to come into a closer balance between buyers and sellers.
In other words, a general slowing in the rate of price growth can be expected, but in many areas inventory shortages will persist and home prices are likely to continue to rise above historic norms.
HousingPanic Stupid Question of the Day
Will crashing house prices cost the Republicans control of the House and/or Senate in November? Or will cheaper gas prices and a new terrorist threat save 'em?
Robert Shiller asks - "If house prices crash in the US, the bastion of capitalism, could it destroy confidence and end the boom in other countries?"
Robert Shiller, yes, my favorite housing bear and truth-teller, had this op-ed today in the Korea Herald, where he raises the point that's been in my head for a bit - can the US housing crash kill housing bubbles throughout the world?
Obviously I'm living in bubble-central, London, England, where I see daily reports now in the papers on the US crash. But Londoners haven't put 2+2 together, and they seem to think what happens "over there" won't affect psychology "over here". Guess what - it will. The exposing of the Ponzi Scheme in the US will draw light and heat to the same Ponzi Scheme anywhere else it's being played. Especially in London.
Also, as HP'ers know, Robert Shiller (author of the ultimate bubble book "Irrational Exuberance") is a professor of Economics at Yale, and he looks like he's taken an Economics class or two in his day.
Compare his writings and thought pattern to the incompetent, corrupt and intellectually challenged Nicholas Retsinas, head of Harvard's REIC-polluted Joint Center on Housing Studies, who looks like a struggling freshman at ASU by comparison.
Here are some of Professor Shiller's latest musings on the ongoing housing bust. Read the whole article, and also google him and read his past stuff too. Yes, he was early in calling the bubble (again). But yes, he also got it right.
Many places around the world have been in a housing boom since the late 1990s. As I argued last year, in the second edition of my book "Irrational Exuberance," the boom is rooted in speculative investment by ordinary homebuyers, fueled substantially by the worldwide perception that capitalism has triumphed, and that all people must look out for themselves by acquiring property. Convinced that private ownership has become essential to smart living, buyers bid up home prices.
Moreover, the fear that one must get in on the boom before it is too late often drives people to bid up home prices faster now.
But the boom generated by such beliefs cannot go on forever, because prices can't go up forever, and there are already signs of a hard landing.
In the United States, newspapers and magazines are trumpeting reports in the last few months that the decade-long boom in home prices may be at an end, and that the bubble may be bursting. The psychology has suddenly changed, creating widespread fear of sharp drops in U.S. home prices.
If home prices crash in the United States, the bastion of capitalism, could it destroy confidence and end the boom in other countries? If so, could a worldwide recession follow?
If there's a housing bubble in Billings, MT, you know something is realllllly wrong
Take Billings off of my "geo-arbitrage" list...
HP message to the REIC - kiss my blogger butt
To David Lereah, Nicholas Retsinas, Bob Toll, the realtors over at Realtytimes.com, the lazy Catherine Reagor of the Arizona Republic and her rolodex of realtors, the frauds at firstrung.co.uk, the idiot Gregg Swann at Bloodhound Realty, the incompetent MSM, the REIC HP trolls, and all the corrupt realtors, mortgage brokers, appraisers, builders, bankers and politicians involved in furthering the biggest Ponzi Scheme in the history of humanity, the Late Great Housing Bubble, I've got one thing to say.
Kiss my blogger butt.
There's no editor looking over my shoulder, no incentive to keep this bubble going. Blogging has changed the rules of the game, we are the proxy of the people, and your day is done. I look forward to reporting on the REIC jail sentences, the scandals uncovered, and the corruption exposed.
Thank you HP'ers for making taking this blog to over 250,000 views a month. I hope you enjoy the ride - we're just getting started.
We're going to have fun dragging "there is no housing bubble" articles and authors out for years to come
Sure, the corrupt David Lereah is an obvious one. The Henry Blodgett of the latest bubble. And the new town idiot from Harvard will be run out of town no doubt as well, and mocked for a generation.
Then you have other biased, corrupt members of the REIC like the Bloodhound Realty dolt, Bob Toll, etc. But I understand where their cheerleading came from - their livelihoods rested on the bubble going up and up.
But there are so many more lurking out there. Clueless "experts" who couldn't see the obvious writing on the wall. Nincompoops who never bothered to read about historical manias and crashes, and truly thought "it's different this time" and "the fundamentals don't matter anymore".
Here's just one of many "there is no housing bubble" articles from last year:
There is no housing bubble in the USA: housing activity will remain at high levels in 2005 and beyond by James F. Smith
There is no evidence of a housing "bubble" in the United States and housing demand should stay strong for years to come.
Three major factors lead to this conclusion.
First, the 77 million baby boomers are approaching the peak home ownership ages of 65-75 (over 83.0 percent versus a national average in 2004 of 69.0 percent).
Second, immigrants, a growing share of the U.S. population, tend to buy houses ten years later than people born in the United States of the same income group and family size.
Third, mortgage rates are not likely to go high enough (8.0 percent or more for 30-year fixed rate mortgages) to put a crimp in demand.
Despite some areas of concern, overall homeowners' equity is at record levels above $9 trillion. Delinquencies are still less than one percent of mortgages outstanding.
HP'ers, do you get the feeling you know something others don't know?
Or do they know and don't want you to know they now know?
Or do they not know what they don't know because they wouldn't listen to you tell them what you know that they should know?
Or does everyone just now know?
From dot-com to dot-condo: Empty condo towers and panicked investors caught with the hot potato
Folks, no matter what the NAR or Harvard tell you, condo prices are going to drop nationwide.
Why? Because they were swooped up by investors these past few years to daytrade like pets.com. And these investors don't live in 'em, and if they rent 'em out the negative cash flow kills 'em. If they hang on to 'em they lose even more as their value plummets.
In cities like DC, Vegas, Miami, Phoenix and San Diego, I think you'll be looking at 50%+ declines from top to bottom. They'll come down in price to the point where monthly ownership costs equal monthly rental income. It's called The Fundamentals. Something the corrupt Nicholas Retsinas with Harvard doesn't understand, or doesn't want you to know.
The aftermath of condo fever
People camped out for the chance to buy a unit in Radius, a condominium development in Hollywood, Fla. The building's 285 units sold out in just over 10 hours -- half a year before construction was even set to start.
But that was in the summer of 2004, when the red-hot condo market was peaking and money could be made by investing in condos expected to quickly appreciate. Units were often on the market for resale as soon as they were completed. It's a much riskier proposition to flip a condo in some of today's cooling markets.
"You see some of these communities that investors purchased ... there are no lights on at night," said Bill Donges, chief executive officer of Lane Company, developer of Radius, which is scheduled for completion in the spring.
"The market is clearly oversupplied in many places," said David Seiders, chief economist for the National Association of Home Builders. "The key symptom of that has been on the price front. Prices have taken a hit."
Not wonderful news for those who have invested in condominium units with the intent to sell them quickly -- and are still holding them. According to NAR data, 31% of investment purchases made between 2002 and 2005 were condos.
HousingPanic calls for the immediate firing of Nicolas Retsinas, Director of the Joint Center for Housing Studies at Harvard University
As HP'ers may remember from June 2006, Harvard's "Joint Center for Housing Studies" put out a bizarre and incredibly bullish report on housing, much to our amusement and bewilderment, as housing was already well in meltdown mode by then.
So the bubble bloggers did their thing and dug a bit, and sure enough, the "Joint Center for Housing Studies at Harvard" is 100% bought and paid for by the REIC. Their sponsors read like the who's who of the REIC. And King-Bought-and-Paid-For is, of course, as fate would have it, it's head, one Nicolas Retsinas, whose entire livelihood rides on putting out bullish reports to support his masters, the REIC.
So we exposed it, had a great time, and though we nipped that one in the bud. Mr. Retsinas looked silly and stupid then, but I'm sad to say, as of today, he now looks seriously corrupt.
Mr. Retsinas took it upon himself today to put out the strangest of strange articles, again trumpeting housing, and calling naysayers like HP "Cassandras", "Pollyannas" and "Chicken Littles".
Seriously. No, seriously.
No, SERIOUSLY.
He bizarrely uses no data (since he can't - it's all so amazingly ugly as we're in full meltdown mode now), and his arguments are sophomoric at best, frankly smacking of the University of Slippery Rock, not Harvard University for god's sake.
According to the blatantly bought-and-paid-for Mr. Retsinas:
"Cassandra, though, can stop wailing: the expected price corrections mark a slowing in the rate of increase - not a precipitous decline. This will not spark a chain reaction that will devastate homeowners, builders and communities. Contradicting another gloomy seer, Chicken Little, the sky is not falling"
He goes on to state:
"Cassandra can stop wailing, and Pollyanna can stop cheering. Home prices in some regions are moderating, but for a nation inured to CNN's headline-of-the-moment, this moderation does not rate high on the Richter scale of cataclysm."
So, HousingPanic today calls for Harvard to fire Mr. Retsinas, immediately. He is polluting the image and mission of Harvard University. He is bringing disrepute and, frankly, a stench to your fine university.
HousingPanic also calls for Harvard to investigate the personal finances of Mr. Retsinas, who, with his bizarre rantings, has at a minimum the appearance of being on the take from his many REIC masters. We would encourage a hard look at sporting tickets, restaurant tabs, travel expenses, junkets, bank statements and any other quid-pro-quo possibility which would cause such blatant bias and disinformation.
Finally, HousingPanic is requesting Harvard look at the funding and structure of the Joint Center for Housing Studies, so that REIC bias is eliminated from the entity, and a truly unbiased and uncorrupted study of housing may be undertaken in the future.
Harvard is a the pinnacle of American education. To have such REIC corruption within the hallowed halls of Harvard shows just how entrenched the REIC is in American institutions, beyond the Congress, the Media and our financial institutions.
HP'ers, join me in contacting Harvard on this issue:
Joint Center for Housing Studies Harvard University1033 Massachusetts Avenue, 5th Floor Cambridge, MA 02138
Main Number: (617) 495-7908
Media Relations: Elizabeth England (elizabeth_england@harvard.edu)
Harvard President Derrick Bok (derek_bok@harvard.edu
Harvard Joint Center for Housing Studies Head of REIC Corruption: Nicolas Retsinas (nicolas_retsinas@harvard.edu)
Finally, here is the dirty list of Mr. Retsinas' Real Estate Industrial Complex masters.
Lumber Company
Armstrong Holdings, Inc.
Beazer Homes USA
Boise Cascade, LLC
Boral Industries
The Bozzuto Group
Bradco Supply Corporation
Builders FirstSource
Building Materials Holding Corporation
Canfor Corporation
Cendant Corporation
Centex Corporation
CertainTeed Corporation
Champion Enterprises
Countrywide Financial Corporation
Crosswinds Communities
Fannie Mae Foundation
Federal Home Loan Bank of Boston
Fortune Brands - Home and Hardware
Georgia-Pacific Corporation
Hanley Wood, LLC
Hovnanian Enterprises
Huttig Building Products
Johns Manville Corporation
Kimball Hill Homes
Lafarge North America
Lanoga Corporation
Lennar Corporation
Louisiana-Pacific Corporation
Masco Corporation
Masonite International Corporation
McGraw-Hill Construction
Meritage Homes Corporation
MI Windows and Doors, Inc.
Move, Inc.
National Gypsum Company
Oldcastle Building Products, Inc.
Pacific Coast Building Products
Pella Corporation
Pulte Homes
Reed Business Information
Rinker Materials
The Ryland Group
S&B Industrial Materials S.A.
Stock Building Supply
The Strober Organization
Temple-Inland
UBS Investment Bank
And this from the Harvard website:
The Policy Advisory Board is comprised of senior executives from leading corporations involved in the housing sector, including home building, building materials manufacturing and distribution, housing finance and mortgage banking, design, construction and renovation.
The Chair of the PAB is Thomas C. Nelson of National Gypsum Company and the Vice Chair is Stuart Miller of Lennar Corporation.
FLASH: As predicted, Casey Serin and Iamfacingforeclosure.com is baaaaaack
Two words: States Evidence. OK, two more words: Mainstream Media. Watch the kid score some bigtime stories (Time, Newsweek, Jay Leno?). Watch Congress subpoena him to testify - now THAT would be good theatre.
Casey will someday be seen as the human face of an out-of-control mortgage lending spiral that took the nation on a joyride ending in a horrific, historic and epic crash. No matter what Harvard University's Joint Center for Housing Studies tried to tell you.
Here's a snippet of Casey's latest. I'm glad the kid's back - he adds to the bubble story HP'ers - like it or not.
You see, Sunday morning I published the previous article "Am I going to Jail For Mortgage Fraud?". Not only did I publish it, but I also sent an email to all my contacts to update everybody on my blog. I wanted to encourage feedback and I was also asking for referrals to good real estate / bankruptcy attorneys. I did get some good feedback, thank you to everyone who replied.
Right after I sent the email out I got a call from an associate. He urged me to take the site down immediately because:
* People will not want to do business with you. Because who knows what Casey might write about me on the Internet? If I do a deal with Casey and he doesn't like something, what if he will try to "expose" me?? Who knows what Casey's intentions are anyway?
* You will have a bad reputation for talking too much. We can't trust Casey. We better not invite him to any meetings. Most definitely we better not share anything about our deals or Casey might think something is "shady" and want to "expose" it on his blog.
* If there is an investigation everybody involved will be hurt. All the well-meaning real estate professionals who helped Casey do the deals will now be in jeopardy because Casey is talking too much! Even if a person is proven innocent, just being in the negative spotlight is often enough to destroy a good reputation.
* Somebody will go after you! Being public and being controversial is inviting trouble. Admitting to doing "shady loans" is double trouble. If somebody's income stream will be affected by your exposing of "shadiness" they may try to shut you down. There are a lot of just plain angry people out there. You may step on someone's toes with your "honesty".
* You spend too much time blogging. What about selling your properties, rebuilding your business or looking for a job?
Very valid points… Thanks to the associate who made that phone call for opening my eyes to the range of negative possibilities. I am known for taking risks and I am also known for sometimes taking dumb risks. I don't want to hurt people around me with my risks. I don't want to have a bad reputation among the investors in Sacramento.
So that's why I pulled the plug.
In the end, the Late Great Housing Bubble will be just a blip on the radar
Sure, bad news for those who bought a home from 2002 to 2006 (to live in or to flip) and didn't heed the warnings to sell, and those who sucked fake equity out of their house and blew it.
Everyone else, they might not have the riches and windfall they thought they had, but for the most part, they'll be OK.
Unless they work at Countrywide. Or Home Depot. Or are realtors. Or work for homebuilder-ad supported newspapers. Or that donut shop. Or have anything to do with the REIC. Or live in Phoenix, or Miami, or San Diego, or DC.
Well, for that matter, maybe a lot of them won't be just fine.
But in the end, just a blip on the radar folks. The biggest blip ever, but just a blip on the radar...
Classic Bubble: Money just raining down from the sky - buckets-full for anyone and everyone to use in the biggest Ponzi Scheme of all time
I found my way to this typical yet sickening mortgage broker's site today, pretty standard stuff I'd imagine. But it really amazes me how easy it is to go out and borrow say $500,000 today, with no income, no job, no credit, no ability to pay back the loan, and no oversight.
A classic trait of any financial bubble is the over-use of credit and leverage:
The abundance of credit, coupled with leverage (buying with borrowed money), accelerates this process and buying leads to more buying. Then comes the panic: some event shakes confidence and wakes up investors to the mania that has clouded their judgment. This panic leads to a crash: borrowed money needs to be repaid and investors will sell anything at any price to meet the bankers' needs.
This bubble folks saw credit and leverage amounts never before seen in the history of humanity. The series of events that led to this point is just amazing - the commoditization of loans, the growth of the unregulated "mortgage broker" channel, the complete lack of oversight by local banks, the no-cap-gains law written by a corrupted Congress, and the willingness of millions to break the law and lie on mortgage applications.
This easy money led to the bubble, period. Without this access to credit and lack of oversight, prices never would have been able to get to the point they did.
But here's a scary thought - it's not over. I could still go out today and lie on a loan, get $500,00, and buy a condo. The bubble will be dead only when this system is fully put down. And that'll take Congressional hearings, new laws, and new oversight. So stay tuned...
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FLASH: Homebuilder firesale produces 4.1% increase in unit sales (maybe - nobody knows), prices tumble to unknown level due to rampant incentives
While the MSM is reporting home sales rebounding, and a 4.1% increase in new home sales, HP of course gives you the correct headline. This report is statistically meaningless, fraught with error, reports a totally bogus price number, and really isn't worth the paper it's printed on. Yet we all report it for some reason..
Here's one report that at least took the time to mention the issues, versus the rest of the rip-and-read lazy MSM
New home sales rise 4.1% to 1.05 million pace - Median sales price down 1.3%, first yearly decline in three years
WASHINGTON (MarketWatch) -- Sales of new homes unexpectedly increased 4.1% in August to a seasonally adjusted annual rate of 1.05 million from a three-year low in July, the Commerce Department reported Wednesday.
Sales are down 17.4% in the past year and are down 23% from the peak last July.
Sales in May, June and July were revised sharply lower. July's sales pace was revised to 1.009 million, the lowest since March 2003, from an earlier 1.072 million.
The median sales price of a new home fell 1.3% year-on-year to $237,000, the first year-on-year decline since 2003. The reported sales price does not account for the massive incentives builders have been offering to close deals.
Despite the sales increase in August, there's little reason for near-term optimism about new home sales, economists said.
"Builders are extremely pessimistic," Brian Bethune and Nigel Gault, economists for Global Insight, said ahead of the report. The home builders' sentiment index has plunged to a 15-year low, while housing starts have fallen 19.8% in the past year to a three-year low.
The government cautions that its housing data are subject to large sampling and other statistical errors. Large revisions are common. The standard error is so high, in fact, that the government cannot be sure sales increased at all in August. The 4.1% increase is statistically meaningless.
Oh, the humanity. Countrywide cuts 6,000 more jobs, but more importantly, no more Free Donut Fridays
No more free donuts! I'm outta here!
My only question is what do the other 56,000 Countrywide employees do now that housing has fallen off the cliff? Well, besides read HousingPanic at work and get their resumes ready?
My prediction - 30,000+ Countrywide layoffs by the time this meltdown is over, seeing that they added 22,000 since 2003 alone. Easy come, easy go.
Oh, and more importantly, and more sadly, I'd predict two layoffs at the local Calabasas donut shop.
Countrywide Financial Corp., Calabasas, Calif., the nation's largest residential lender, has confirmed that it will cut up to 10% of its "general and administrative" work force in the coming months.
A Countrywide spokesman confirmed the job cuts to MortgageWire but could not offer a head count for the reduction. Layoffs have already begun, he said. Countrywide employs about 56,000 nationwide. He stressed that the layoffs -- which the company hopes to achieve mostly through attrition -- will not affect the lender's sales staff.
One source told MW that the company has even canceled its regular practice of providing employees with free doughnuts on the last Friday of every month.
Shocking, disgusting and predictable expose on "Liar Loans"
Just watch the video.
We're going to hell in a handbasket.
What the heck happened in this country that allowed things to spin this out of control?
Nice to see the MSM (finally) doing their job and digging into this ponzi scheme now. My only question is - what took so long?
Thanks Darrell for the link.
Now that the bubble has burst and the meltdown has started, anyone practicing or thinking of doing Geo-Arbitrage?
HP'ers may remember this conversation from February, the idea of selling you overpriced sh*tbox in Arizona or California, cashing in at the top, putting the $ in CD's and moving somewhere real. Somewhere where homes didn't go crazy (usually the middle of the country, like Montana, maybe a town in Kansas).
Live the simple life. Stop working, or working so hard. Stop going to flipping Pottery Barn every weekend to buy more junk. Sell the Lexus and get a pickup truck. You get the picture.
So, anyone do it? Anyone regret not doing it by now?
I intend to do it, but that little city won't be in the US, it'll be over here somewhere. We'll see. Give me an internet connection and a phone line, and I'm good to go. Oh, and good train connections, so I can still get to symphonies, opera, the airport and the sea.
From the inspiring Moments of Clarity blog, done by a guy who did just this, here you go:
On Geographic Arbitrage and Corn Fields
Thank you Rich Karlgaard http://www.life2where.com/ for helping me finally pull the trigger on the big move from the "skyrocketing coastal markets" to the flyover country. Reading Karlgaard's book "Life 2.0" and Po Bronson's "What Should I Do With My Life", have really helped me to grasp what it means to exit the California race for AM freeway position and enjoy a fuller life. Now, I'm taking my CA income and job to Des Moines Iowa.
We were able to spend some time there and my business travels keep me in the Midwest quite often and I've come to enjoy it. I realize that living there, snow, cold, etc. will be a shock for a while. But, as I frequently say to friends and family, "I don't know about you...but I tend to drive 2 hours a day to work inside an office after exiting a climate controlled car and then it's too jammed on the freeway all weekend long to actually go anywhere without popping a vein and I have 2 kids under 3....so what am I missing by moving to a different climate???"
As discussed in Life 2.0, we'll probably find a very nice house of roughly 2.5 X the size for about $250k. Yes, you can write a check for houses like that coming from CA. I wont but the thought of saying, "I'll write you a check right now if you take $25k off so I can go buy the Volvo instead of the Hyundai" feels nice.
Oh dear god tell me we've moved past denial and are sailing into fear harbor by now
Seriously, is anyone in the US, ANYONE, still in denial that the bubble has burst? Is anyone, ANYONE, still in Euphoria or Anxiety mode?
We have to be, just have to be, in Fear mode by now as a country, with many others already way past that and into Desperation, Panic, and for sellers cutting their price to get out from under their housing financial deathtrap before Mr. Foreclosure shows up, Capitulation mode for sure.
Of course, this blog hits its zenith when we move into Panic mode, but even I think that'll be a year or so from now, when the blood is really in the streets, and not just with housing, but with everything. Yes, everything.
I flipping lost it when I got this one. Ladies and Gentlemen, I give you David Lereah
The hat-tip of the year to HP'er Nick for the really awful photoshop job. It's the thought that counts!
Who wants a T-shirt?
The Great Housing Crash is here: "The speed of the (housing) collapse has been astonishing - prices and volumes have a long way to fall"
HP'ers - What's your local paper's housing meltdown headline today?
I'm not surprised to see some of the headlines - that small "official" drop in YoY prices caught people's attentions.
However, wouldn't the REALLY be surprised if they knew the truth - that prices are likely down 15% or so already, once you take into account the rampant use of incentives and cash-back at closing to move dead housing inventory.
I enjoyed this quote from Ian Shepherdson of High Frequency Economics picked up in a few papers:
The pace of the downturn has surprised several economists, including Ian Shepherdson of High Frequency Economics. "The speed of the collapse has been astonishing," he said. "This time last year, single-family home prices were up 16.4 percent. With inventory still rising, there is no chance of any short-term relief. Prices and volumes have a long way to fall"
I also saw this quote from the corrupt David Lereah. He must have been drinking a bit at the end of a bad day and let one go:
"If we have prices drop for the rest of the year and sales also continue to drop, then we will have a bad situation in housing of balloons popping rather than air coming out," Lereah says
Here's a brief selection of headlines around the world. Just wait until the real fun starts....
Home prices likely to fall more - USA Today
US house prices take a tumble - The Age (Australia)
Analyst says of new data: 'Pop goes housing bubble' - Houston Chronicle
US house prices could drop another 10% - The Globe and Mail (Canada)
Home prices drop for first time in decade - Pittsburgh Post Gazette
Looks like the California NAR head dude didn't get Lereah's talking points...
Yes, folks, this is what a housing crash looks like. "Hitting bottom" as the corrupt David Lereah would have you believe? Nope. We're just getting started...
Home sales fall dramatically in California
Home sales in California fell 30.1 percent in August compared to a year earlier, the most dramatic annual decline since 1982, it was reported on Monday.
"We experienced the greatest year-to-year sales decline last month since August 1982, when sales fell 30.4 percent," said California Association of Realtors (CAR) President Vince Malta.
"This is another indication that we're in the initial stages of a long-anticipated adjustment in the market. Buyers today have a much greater selection of properties from which to choose, while some sellers are still clinging to price expectations that are no longer valid in today's market."
I also liked this quote today:
"Pop goes the housing bubble," said Joel Naroff, chief economist at Naroff Economic Advisors. He predicted prices will fall further as home sellers struggle with a record glut of unsold homes.
The very moment the housing bubble jumped the shark
Realtors - getting hungry out there?
2004 Standard Realtor Meal:
HousingPanic Message to the Mainstream Media: The Corrupt David Lereah is a Lying Hack - Stop Quoting Him Without a Disclaimer
MSM - enough is enough. Your use of David Lereah rip-and-read press release quotes with no disclaimer should be banned.
By giving this corrupt hack of the National Association of Realtors free-reign, you are allowing propaganda on the highest scale. He is the Tony Snow of real estate. The Iraqi Information Minister of the Housing Bubble.
Did any of you go to journalism school? Ever here of vetting your sources? Ever hear of challenging statements that are made with facts?
David Lereah is a paid pawn of the NAR. He makes money on the side by selling books on how real estate values will only go up and up. Every word out of this man's mouth is a lie at best, corrupt at worst.
Every time you are tempted to use a David Lereah quote, think - who is the source? What does he have to gain here? Is what he is saying backed up by facts? What is his track history with predictions? Who pays him? How does he make his money? What motivations does he have to lie?
I recommend this disclaimer:
"David Lereah, discredited based on prior predictions that have not proven to be true, paid by the NAR to make claims about real estate that may or many not be based on facts, and the author of "Are You Missing the Real Estate Boom, ......"
So I'm thinking I need to write a book - "HousingPanic's Guide to the Housing Bubble Collapse - The End of the Late Great Housing Ponzi Scheme"
Or something like that... Basically HousingPanic - The Book
Only problem is I'm just too damned busy (yet lazy) to tackle it. But I figure with almost 2,000 posts since we launched, nearly 2 Million page views, an active and growing HP community, and a very timely and impactful issue, a book would be a pretty cool thing to put out at this point. But I want HP'ers feedback before I even give it any serious thought.
The blog itself serves as a great base, with all the articles and comments (and funny pictures) that could be drawn upon to form the book and tell the story, hopefully with some humor balancing out the scary stuff.
And, as loyal HP'ers know, I tend to say a few controversial things here and there. So I think it'd be an interesting read, especially in a time of super-slick, do-nothing politicians, lies and more lies from the NAR and REIC, and a mainstream media looking for someone to blame for this debacle.
So, any aspiring writers out there who would like to collaborate on a book, as a ghost-writer or "as told to" kind of thing, let me know. Or anyone involved in publishing, I'll be looking for advice.
I figured we'd hit all the hot buttons and try to tie it together in a neat little bow, including off the top of my head:
The corrupt REIC
The Bubblicious Fed
Greenspan's bubbles and call to ARMs
No-down, negative-am, "liar's loans", interest only
Bush's misguided ownership society
The Fannie/Freddie disaster
Our corrupted Congress
Stupid tax policy
The rip-and-read MSM
Brainwashed/Braindead/American-Idol Americans
The problem with commoditized loans
24-year old speculators
Classic bubbles and manias
Human greed and denial
The out of control consumer / debt fueled society
Building standards, sprawl, urban planning and the exburban nation
Wal-Mart/China/Trade Imbalance/Interest Rates
Poor financial knowledge of Americans
The manufacturing jobs we've lost, never to regain
Iran/Iraq/Gas Prices
US Debt/$$ crisis
Social Security/Medicare/Medicaid/The Bankrupt USA
What'd I leave out?
And would you buy the book?
Let the blame game begin: How the Fed failed to prevent the housing bubble
It's a bit strange, to go from a voice in the wilderness, mocked, laughed at, discredited, to being spot-on and going mainstream.
Housing Panic is here folks. You, the loyal HP'ers, are vindicated. Victory is ours, and it is sweet, yet it is so painful, so, so painful...
Get ready HP'ers. The time is neigh. The hour of the Great Reckoning is here.
How the Fed failed to prevent the housing bubble
There is total detachment from the bad news now pouring out of the US economy. For several years, the booming housing market has made the difference between recession and recovery for the US economy. Zooming house valuations provided private households with the collateral that allowed them to replace the missing income growth with a borrowing binge.
But as the housing market is sagging, this major source of higher consumer spending is plainly drying up, and most obviously and importantly, income growth is by no means catching up.
In 2005, real disposable incomes of private households in the United States increased $93.8 billion, or 1.2%, while their debts grew $1,208.6 billion, or 11.7%. Total consumer spending on goods, services and new housing accounted for 92% of real GDP growth.
Most economic data have softened, with the downtrend accelerating. In the face of this fact, it could not be doubted that Mr Ben Bernanke and most others in the Federal Reserve were anxious to stop their rate hikes. In question was only whether they would dare to do so in view of the high and rising inflation rates. They dared.
They even disappointed those who had predicted the combination of a declared "pause" with hawkish remarks about fighting inflation.
Present American folklore has it that a protracted slump in house prices is impossible. Let us say for many people it is unthinkable. And that is precisely one reason why this housing bubble could go to such unprecedented excess. The little historical knowledge we have about bursting housing bubbles is from a study published by the International Monetary Fund in its World Economic Outlook of April 2003. It presents past experience in a very different light. Here are some excerpts on decisive points:
"To qualify as a bust, a housing price contraction had to exceed 14%, compared with 37% for equities. Housing price busts were slightly less frequent than equity price crashes...Most housing price busts clustered around 1980-82 and 1989-92, while equity price busts were more evenly distributed across time...
"Housing price crashes differ from equity price busts also in other three important dimensions. First, the price corrections during house price busts averaged 30%, reflecting the lower volatility of housing prices and the lower liquidity in housing markets. Second, housing price crashes lasted about four years, about 11/2 years longer than equity price busts. Third, the association between booms and busts was stronger for housing than for equity prices."
HousingPanic Message to the World: Housing Panic Red Alert! Full Panic Underway in the USA. Brace! Duck and Cover! Full Stop.
HousingPanic Exclusive: The Iamfacingforeclosure.com kid is gonna put his site back up, was threatened by his mortgage broker
He might have to blog from the safety of Russia, but I believe the kid is going to go back up. Got scared off after his corrupt mortgage broker tried to put the screws to him
"If I go down you go down" - isn't that how it plays out in the movies?
Seth at Motley Fool picked the story up today (tipped off by HP but didn't credit us). Here's the full article. Nice to see HP having an impact, even if we're not properly credited by the MSM...
24 Years Old, $2 Million in the Hole
So, have you heard the one about the 24-year-old "real estate investor" who's $2 million in debt and still hasn't gone back to his day job? No? Alas, you may never get the full story. Last week, a Californian named Casey Serin started a blog called "Iamfacingforclosure.com," detailing how he got himself half a dozen sinking properties and $2 million in debt. By today, he'd pulled it off the Net, with good reason.
The quick version of the story is this. After taking some courses in real estate investing, this eager kid lied his way into a slew of loans he, admittedly, didn't deserve, and now that he's bleeding to the tune of $20,000 a month, and the housing market is crashing around his ears, he thought taking his story to the Web might somehow help.
A part of me still wonders whether or not this wasn't just a somewhat elaborate hoax, but if it's not, this kid is in deep trouble. Admitting to serial lying on loan applications might be enough to get forgiveness from our short-attention-span society, and it might get you a few "attaboys" from the easily impressed. But I doubt this kind of naive, public forthrightness will serve Casey so well should any of these lenders haul him into court for fraud. (For those who just have to see what was there, a few Web searches will still turn up cached pages.)
Denial: Not an African waterway Even if this is/was just a piece of Web 2.0 performance art, it's not too tough to believe that there are other people in the same situation. If you read between the "Dude, you're going to jail" comments on the site, you might have gotten the uneasy feeling, as I did, that the lesson's not sinking in.
Try this on for size. "You can't buy this kind of experience," wrote one reader. "Seriously it's not the end of the world. No one who ever amounted to anything did it first crack out of the box." It wasn't the only comment along those lines.
With attitudes like this so prevalent, why don't I believe things are going to clear up for people like this any time soon?
Gekko was wrong. Greed ain't good. The problem here isn't real estate per se, nor bad lending.
Well, let's back up a step. If the information on that blog was genuine, Countrywide Financial(NYSE: CFC) and Citigroup(NYSE: C) made some very stupid loans. If Countrywide did, as alleged, make two loans to an overextended "self-employed" 24-year-old with nearly zero assets, will anyone else out there be surprised if its loan book becomes absolutely rank in a few months?
Greed makes you stupid. On a more philosophical level, here's the real problem: People can't help themselves when they think they know how to get rich quick. How quickly they forget. In 1999 and 2000, everyone was a tech-stock wizard. Everyone knew that the bandwidth appetite would keep Cisco(Nasdaq: CSCO) stock shooting toward the moon. Everyone knew that the emphasis on network architecture would make Sun Microsystems(Nasdaq: SUNW) the next IBM(NYSE: IBM), only better.
Of course, the crash proved that the only thing we really had was a rising tide floating all those boats. And it receded at warp speed, leaving plenty of amateurs stuck in the muck. I suspect we're going to see a similar problem in real estate, as more amateur flippers like Casey find themselves backed into a corner. The difference is that this might take longer to unwind, and the consequences could be a lot worse.
After all, real estate isn't so liquid. Sellers anchor to what they paid. Buyers have no reason to rush in at the front end of the crash. Incentive schemes dreamed up by realtors, sellers, and homebuilders like Ryland(NYSE: RYL) prop up prices. Lennar(NYSE: LEN) keeps building despite the writing on the wall. As a result, it will be months before we see a real "correction."
Moreover, unlike most amateur stock players, who are only gambling with cash on hand, the new real estate speculators depend on huge slugs of leverage. Lose everything on your pile of tech stocks, and you're back to zero. Lose everything on leveraged real estate, and you move deep into negative territory. There's nothing like owing $600,000 on a home that's now worth $470,000 to make you wonder why they invented the option ARM, or the 40-year mortgage. You think it was to do you any favors?
Foolish bottom line Let me break it down for you. If you're a twentysomething out to make it big in the world, do yourself a favor and slow down. If you're wearing flip-flops and low-riding jeans to closing, I'm talking to you. Real riches come over time, not overnight. You need to start with a clean financial house, make smart bets, and save your money sensibly.
Twenty-four years old and $2 million in debt is no way to start your future. It's amazing to me that anyone could ever think otherwise.
Contrarian Chronicles: Voodoo debt and the coming recession
HP'ers, don't you feel like you know something that the regular American doesn't? That you've been given a glimpse of the (ugly) financial future we face, yet almost everyone else you know has no flipping idea what's going on?
Well, here's yet another jolt of reality. And again, my only advice at this point is get ready. Whatever ready means.
With debt piled high in a variety of voodoo mortgages, the declining economy will soon turn into a bobsled ride to tears.
Proceeding to the front of the housing ATM food chain, I'd like to spend a moment on how folks' appetite for risk has been enabled by all of this mortgage exotica.
Author Robert Campbell writes: "I always figured the deflation of the housing bubble would resemble a slow train wreck, but there is new evidence that makes me think the correction may occur more rapidly. This is because there is compelling evidence that a recession is dead ahead. … Now that housing prices are going sideways to down -- and incomes and jobs are still sagging -- this 'debt-fueled' artificial-life-support system for continued consumer spending (and an expanding U.S. economy) is running out of gas.
"In the long run, housing prices cannot continue compounding faster than incomes. We are now facing this economic reality. People cannot continue buying homes with creative, voodoo mortgage-loan financing -- that, in the end -- they can't afford.
I don't know who has been more irresponsible, real estate agents, mortgage lenders, borrowers, or banking regulators -- but I do know that the lending standards for mortgage borrowing have dropped to a zero setting for the past five years. If people weren't in prison or earned more than the minimum wage, money essentially was free to all -- whether they could ever hope to pay it back or not."
No happy ending for housing Continuing on, he says: "The United States has experienced the greatest real estate boom in history, but the boom is now turning into a bust, and the aftermath is not going to be pretty.
"The coming recession is not only going to dispel that hope, but it's going to speed up the fall. … The sad fact is that we're living in a debt-fueled economy, as opposed to an income-fueled economy.
Housing prices cannot continue to compound faster than incomes forever. This incredible rise in prices has been driven by artificial demand (ultra-low interest rates and ultra-loose credit), as opposed to real demand (rising incomes and rents)."
He concludes: "Loose mortgage loans that prolonged the boom will worsen the bust. Homebuyers are now going to pay the price for their 'buy now, worry later' spending spree. … With market manias, self-feeding greed on the way up turns into self-feeding fear on the way down. That time is near."
My comment: Yes, it is.
FLASH: Used home sales fall again, bogus price number shows first year-over-year price decline since 1995, Lereah predicts market has hit bottom
HA HA HA HA HA HA HA
Oh, man, this is hilarious.
The corrupt David Lereah just predicted the housing market has "hit bottom". Maybe for realtors (the six percenters), who are only interested in transaction volume and their commissions, and not pricing, but for the other 99% of people who only care about pricing, we're a looooooooooooooooooonnnnng way from bottom.
The corrupt Lereah says this:
``We've been anticipating a price correction and now it's here,'' Lereah said. ``The price drop has stopped the bleeding for housing sales. We think the housing market has now hit bottom.''
And the corrupt NAR President Stevens says this:
NAR President Thomas M. Stevens from Vienna, Va., said sellers need to price to current market conditions if they want to sell within a reasonable amount of time. "In some areas home sellers are not making sufficient adjustments in their listing price, so their homes are staying on the market and contributing to the build up in inventory"
While a real economist says this:
``The housing bubble has burst and housing is in full retreat,'' said Steven Wood, president of Insight Economics LLC in Danville, California. ``What was a sellers' market has become a buyers' market. The housing correction still has a long way to run.''
So who do you believe HP'ers? It goes without asking.
HA HA HA HA HA HA HA HA


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The Met Office is now forecasting heavy snow will fall in parts of Croydon in the next 24 hours.
Parts of the borough woke up to a flurry of snowfall on Monday morning (February 26) and more is expected to fall in the evening - with Southern passengers urged to leave early to avoid disruption.
According to the Met Office forecast, heavy snow is heading to both Addington and Kenley.
The latest hour-by-hour forecast shows residents in and around Addington should expect heavy snow at 6pm on Monday (February 26) and it is due to last for around one hour.
The temperature is not expected to rise above -2°C throughout the evening in the area, with wintry winds making it feel more like -9°C around midnight.
Kenley is forecast to get snow on Tuesday (February 27), from 9am until 1pm and heavier snow is expected to fall between 10am and midday.
As with Addington, the snow will be coupled with bitterly cold weather and winds.
The highest temperature expected for Kenley on Tuesday is 0°C, with cold winds making it feel between -5°C and -9°C.
Throughout the rest of Croydon, lighter snow is expected at regular intervals in the next 24 hours, and so disruption on the roads and public transport is expected.
The forecast is changing rapidly as further information comes in, and the Advertiser will keep you up to date with any changes that will affect your area.


Jim Miller, Executive Director of Statewide Refrigerated Transport (SRT) Logistics, one of Tasmania's three largest truck operators, is a die-hard Caterpillar fan who is not afraid to declare he'd still be buying Caterpillar-powered Freightliner Argosys if this was a viable or, indeed, possible option.
However, back in 2011, when the company needed extra trucks to service its new contracts with Woolworths and Statewide Independent Wholesalers, it was trialling some European brands, including a number of Scania R560 prime movers slotted into the mix.
In something of a surprise to the SRT Logistics team, the V8-powered Scania matched or beat its rivals on key criteria such as on-road performance, fuel consumption, driver comfort and price competitiveness.
Safety equipment and availability of a suite of advanced electronic systems such as Lane Departure Warning, Adaptive Cruise Control, Downhill Speed Control, plus the fully automated two-pedal Opticruise transmission and Scania retarder all helped sway the decision in Scania's favour. Added to that was a high level of driver acceptance, which is a vitally important aspect for SRT Logistics. The upshot was that the company bought a batch of eight R560s in 2012 and a further two the following year.
On the first aspect, SRT Logistics driver Tracey Johnson is happy to sing the praises of the R560 she drives between Hobart and Launceston.
"I wasn't aware of Scania's in truck Driver Support system at first, but we had Scania driver trainer Allan McDonald over and he showed us how to use the system to improve our fuel economy," says Tracey. "So I really set about using the training in the new truck. It is challenging and you have to be on your mettle because if you do something wrong, it takes one or two points off the driver's score and then you have to do the right thing quite a few times before it adds a point.
Tracey's hard work in keeping her driving score at 96 per cent is obviously paying dividends, with the R560's fuel economy readout averaging 1.7km/l (58.8l/100km) pulling a B-double set with an average gross combination mass (GCM) of 50 tonnes. And as this is one of the newest trucks in the fleet with only 30,000km up, this figure should improve as mileage accrues. In fact, according to Jim, the original R560s that have done around 1.3 million kilometres are achieving up to 2.1km/l (47.6l/100km) doing the same work.


As implied by the title, a collection of short stories for the Pikmin franchise. Most of these were originally posted on my tumblr account.
Charlie loses his rubber ducky and asks Alph to help him find it so he doesn't have to search the lonely halls by himself.
Like the title says, a bit of a different ending to Pikmin 3, as well as a bit more after that. Mostly about Alph and Olimar, with some Brittany and Louie, and a Little Charlie.
Brittany decides a quarter of a glass of juice a day isn't cutting it, so one night she drags Alph along on a little mission. No one's going to notice if an extra ration goes missing, right? It's going to a good cause!
Dunban never expected to fall in love despite the pact he made with Ala as a child. Smash Brothers Mansion was what actually saved him from immediate death because he would meet someone who would melt his heart and change the way he saw things.
As he found and discovered each letter, he began to understand the story behind Captain Olimar.
Pikmin 3, mostly Alph-centric. Spoilers for Pikmin 1.


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Blog Post Stonebranch Customers Talk Data Pipeline and Self-Service Automation
ING Group, Seattle Children's Hospital, and Vermont Information Processing reveal how they democratize automation and orchestrate data pipelines with the Universal Automation Center.
Real-world IT teams are using IT automation and orchestration platforms to break down organizational silos, improve productivity and observability, and empower end-users with self-service automation capabilities.
Fortunately, we were lucky enough to have a few leading IT automation and data-focused teams join Stonebranch Online 2022 to share their stories. Keep reading to hear practical advice from Stonebranch customers with ING Group, Seattle Children's Hospital, and Vermont Information Processing.
Data Pipeline Orchestration with Seattle Children's Hospital and Vermont Information Processing
Seattle Children's Hospital
Headquartered in Washington, Seattle Children's Hospital (SCH) is repeatedly recognized as a top-ranked pediatric hospital in North America. They provide hope, care, and cures to help every child live the healthiest and most fulfilling life possible.
Three SCH team members — Robert Lamb, Grace Li, and Kishore Uppada — joined Stonebranch Online to discuss their experiences using UAC for Data Pipeline orchestration.
The UAC was brought into SCH by the big data platform group, which is responsible for ETL, BI, and developer functions. This group closely aligns with the platform services group and the big data team.
A primary goal of the project was to orchestrate the jobs that automate IBM DataStage, their ETL solution. Additionally, they are focused on automating additional parts of their data pipeline, which includes tools like Tableau, PowerBI, and Cloudify.
Self-service enablement is a big deal at Seattle Children's Hospital. They have multiple data-focused teams that align with various hospital service groups. Each team manages various subject matter areas. As a result, making it easy for each team to see and access only what they need for their respective group role is critical. With over 150 unique groups and growing, SCH required an easy and scalable way to deliver access to the centralized UAC platform for each group.
For that, SCH takes advantage of Business Services within the UAC. Business Services is an access control feature that allows administrators to provide role-based security and permissions.
During their Stonebranch Online session, SCH shared a clever automated workflow, where they use the UAC to fully automate requests for access to the UAC for new groups. The process starts when an engineer submits a ticket in Jira. Once the Platform Services team checks and approves the request, automation picks up the ticket and creates the new business service, assigns the right roles and permissions, promotes it to production, and collects the data in a backend database for tracking.
Automating business services for SCH helps save the team time and allows them to focus on other initiatives that improve employee and patient experience.
Vermont Information Processing (VIP)
VIP creates software and processes data to help their customers in the beverage industry manage inventory, distribution, and sales. With a business model built on a foundation of data, it's critical to have the right tools and processes in place to manage that data flow — and scale as the company continues to grow.
Helen Pampinella, chief data architect with VIP, shared her perspective on how Stonebranch helps them do just that.
Similar to Seattle Children's data pipeline automation journey, Helen's team started using UAC for DataStage to support ETL orchestration in 2020. Because UAC makes it easy to identify and root-cause issues, her team has re-created every job in DataStage within the UAC. In fact, during her session, Helen shared a beautiful workflow that maps directly to every single automated process in DataStage. Doing so offers observability to see what failed and where it failed, makes it easy to get to the right log data, and allows them to re-run or skip tasks at the touch of a button.
In addition to DataStage, Helen's team focuses on orchestrating several other data tools along the data pipeline. VIP uses the UAC to automate processes in AWS EC2, IBM iSeries, Microsoft SQL Server, Snowflake DB, and a whole lot more.
For AWS EC2, she illustrated a workflow that makes it easy to quickly spin up cloud computing power on-demand from the UAC. Then the workflow spins AWS EC2 down when the developers are finished with whatever data modeling or processing they're working on.
Today, VIP has added 19 teams to the UAC platform to automate and orchestrate processes throughout the organization.
Click here to watch the Stonebranch Online session on-demand: Customer Panel: How to Orchestrate a Data Pipeline with Seattle Children's Hospital and Vermont Information Processing (VIP)
ING Group: Self-Service Automation, Jobs-as-Code, and Infrastructure Orchestration
ING Group is a multinational banking and financial services corporation that serves around 38 million customers. ING's Patryk Urbańczyk and Mariusz Dybowski offered their strategy to provide self-service automation to over 500 internal ING groups, representing thousands of end-users across the global business.
ING uses UAC for workload automation across their entire global business. As a focus for their Stonebranch Online session, Patryk and Mariusz shared how they automate the onboarding process for all stakeholders, apply appropriate access controls and security, and enable developers with self-service access to the UAC.
ING has many groups in vastly different geographies that require access to the Universal Automation Center. Because different developers prefer different ways to create and manage workflows, ING provides a choice. Patryk and his team empower their end-users to either use the browser-based GUI within the UAC or to create jobs-as-code using an IDE.
Additionally, ING business users go to a self-service portal when they want a Universal Agent installed on their machines. From there, UAC automates the processes involved in setting up a unique domain with specific agents and objects that associate only with that domain.
In addition to self-service support, ING uses UAC as their infrastructure orchestration tool to provision a host system.
ING uses UAC's broad integration capabilities to connect to multiple tools in the provisioning process, including VMware vCenter, Infoblox, Ansible, SCCM, and ServiceNow.
Click here to watch the Stonebranch Online session on-demand: How ING Empowers End-Users with Self-Service Automation
Curious to see how IT automation can drive business success for you? Check out the full Stonebranch Online virtual education series, an annual online event designed to help you evolve your IT automation and orchestration program.
Start Your Automation Initiative Now
Schedule a Live Demo with a Stonebranch Solution Expert
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Katie Paulin, Content Marketing Manager
Stonebranch Innovation Europe 2022. Highlights and Exceptional Moments from Amsterdam
Watch the video from this year's Innovation Europe and discover a few of the most awesome moments from Europe's top dynamic IT automation event for Stonebranch…


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HomeEducationStudy Abroad in the UK | Top 22 Universities in The United Kingdom
Study Abroad in the UK | Top 22 Universities in The United Kingdom
Viral Mag Team September 03, 2019
Top 22 Universities in The United Kingdom for international Students to Study Abroad in the UK. The United Kingdom, made up of England, Scotland, Wales and Northern Ireland, is an island nation in northwestern Europe. England – birthplace of Shakespeare and The Beatles – is home to the capital, London, a globally influential centre of finance and culture. England is also site of Neolithic Stonehenge, Bath's Roman spa and centuries-old universities at Oxford and Cambridge.
1- University of Oxford
The University of Oxford is a collegiate research university in Oxford, England. There is evidence of teaching as early as 1096, making it the oldest university in the English-speaking world and the world's second-oldest university in continuous operation after the University of Bologna.
2- The Open University
The world's leading distance-learning provider!
The Open University is a public research university, and the biggest university in the UK for undergraduate education. The majority of the OU's undergraduate students are based in the United Kingdom and principally study off-campus; many of its courses can also be studied anywhere in the world.
3- University of Cambridge
The United Kingdom, made up of England, Scotland, Wales and Northern Ireland, is an island nation in northwestern Europe. England – birthplace of Shakespeare and The Beatles – is home to the capital, London, a globally influential centre of finance and culture. England is also site of Neolithic Stonehenge, Bath's Roman spa and centuries-old universities at Oxford and Cambridge.
4- Imperial College London
Imperial College London is a public research university located in London. In 1851, Prince Albert built his vision for a cultural area composed of the Victoria and Albert Museum, Natural History Museum, Royal Colleges, Royal Albert Hall, and the Imperial Institute.
5- University College London
University College London, which has operated under the official name of UCL since 2005, is a public research university located in London, United Kingdom.
6- The University of Edinburgh
The University of Edinburgh, founded in 1582, is the sixth oldest university in the English-speaking world and one of Scotland's ancient universities. The university has five main campuses in the city of Edinburgh, with many of the buildings in the historic Old Town belonging to the university.
7- The University of Manchester
The University of Manchester is a public research university in Manchester, England, formed in 2004 by the merger of the University of Manchester Institute of Science and Technology and the Victoria University of Manchester.
8- London School of Economics and Political Science
The London School of Economics is a public research university located in London, England, and a member institution of the federal University of London.
9- University of Warwick
The University of Warwick is a public research university on the outskirts of Coventry between the West Midlands and Warwickshire, England. It was founded in 1965 as part of a government initiative to expand higher education.
10- University of Nottingham
The University of Nottingham is a public research university in Nottingham, United Kingdom. It was founded as University College Nottingham in 1881, and was granted a royal charter in 1948.
11- University of Leeds
The University of Leeds is a public research university in Leeds, West Yorkshire, England. It was established in 1874 as the Yorkshire College of Science. In 1884 it merged with the Leeds School of Medicine and was renamed Yorkshire College.
12- The University of Sheffield
The University of Sheffield is a public research university in Sheffield, South Yorkshire, England. It received its royal charter in 1905 as successor to the University College of Sheffield, which was established in 1897 by the merger of Sheffield Medical School, Firth College and Sheffield Technical School.
13- King's College London
King's College London is a public research university located in London, United Kingdom, and a founding college and member institution of the federal University of London.
14- University of Bristol
The University of Bristol (simply referred to as Bristol University and abbreviated as Bris. in post-nominal letters, or UoB) is a red brick research university located in Bristol, United Kingdom. It received its royal charter in 1909, although like the University of the West of England and the University of Bath, it can trace its roots to the Merchant Venturers' Technical College, founded as a school in 1595 by the Society of Merchant Venturers. Its key predecessor institution, University College, Bristol, had been in existence since 1876.
15- University of London
The University of London is a federal research university located in London, England. As of October 2018, the university contains 18 member institutions, central academic bodies and research institutes.
16- University of Birmingham
The University of Birmingham is a public research university located in Edgbaston, Birmingham, United Kingdom. It received its royal charter in 1900 as a successor to Queen's College, Birmingham and Mason Science College, making it the first English civic or 'red brick' university to receive its own royal charter.
17- University of Exeter
The University of Exeter is a public research university in Exeter, Devon, South West England, United Kingdom.
18- Durham University
Durham University is a collegiate public research university in Durham, England, founded by an Act of Parliament in 1832 and incorporated by royal charter in 1837.
19- University of Liverpool
The University of Liverpool is a public university based in the city of Liverpool, England. Founded as a college in 1881, it gained its royal charter in 1903 with the ability to award degrees and is also known to be one of the six original 'red brick' civic universities.
20- University of York
The University of York is a collegiate plate glass research university, located in the city of York, England. Established in 1963, the campus university has expanded to more than thirty departments and centres, covering a wide range of subjects.
21- University of Kent
The University of Kent is a semi-collegiate public research university based in Kent, United Kingdom. It was founded in 1965 and is recognized as a Beloff's plate glass university.
22- Cardiff University
Cardiff University is a public research university in Cardiff, Wales. Founded in 1883 as the University College of South Wales and Monmouthshire, it became one of the founding colleges of the University of Wales in 1893, and in 1997 received its own degree-awarding powers, although it held them in abeyance.
All Available Scholarships In The United Kingdom (UK) 2019/2020


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College ranks filled with past FCIAC girls lacrosse standouts
July 25, 2017 by Bob Greeney
Former New Canaan star Olivia Hompe wrapped up her great career at Princeton University by earning First-Team All-America honors to highlight the many achievements of former FCIAC girls lacrosse players who have continued their careers as student-athletes in college.
An Ivy League champion and record-setter with Princeton, Hompe is a nominee for the NCAA's Woman of the Year, which will be awarded during the fall.
Here's a look at how Hompe, as well as many of other former FCIAC lacrosse stars, performed this spring.
Allison Granata was a senior midfielder and tri-captain for New England College who concluded an excellent career.
She fired in a season-high eight goals against Lyndon State and finished the best season of her career with with a career-high 85 points (71 goals and 14 assists). Granata had 206 goals and 54 assists in 72 games during her four-year career.
Julia Doyle and Molly Miller both played for Meredith College, Andrea Tarsi and Mikayla Ramos were on the hometown Western Connecticut State University roster, while the other six former Hatters on women's college lacrosse rosters included Pauline Kaplan (UC-Davis), Emma Kaplan (Hartwick), Majmah James (Pace), Geovanna Ferreira (Bridgeport), Lauren Guiry (RPI), and Ashley McNamara (New England College).
Miller was a senior attacker who had 75 points (16 goals and 59 assists) while starting in 18 of 19 games. She played three years in her career and racked up 213 points on 72 goals and 141 assists. Doyle was a sophomore attacker who had four goals and two assists in 11 games.
Tarsi was a junior midfielder and Ramos was a sophomore defender/goalkeeper for WCSU. Tarsi had nine goals and two assists while starting in 19 games. Ramos made three saves and won the only game she started as goalie and she also started in seven of the 10 games she played on defense.
Pauline Kaplan, a senior defender and a chemistry major at the University of California-Davis, earned Mountain Pacific Sports Federation All-Academic distinction for the maximum third time in her career. She started in every game for the third consecutive year.
Emma Kaplan was a sophomore defender who caused nine turnovers and picked up 22 ground balls while starting in every game for 'Wick.
James was a junior defensive middie who had a goal and two assists in 17 games for Pace. Ferreira was a sophomore defender who scored a goal, scooped up 17 ground balls and forced 10 turnovers in 15 games for UB. Guiry was a sophomore midfielder who played in 14 games for RPI.
McNamara was a freshman defender who tallied seven goals and three assists while playing in 18 games.
Jenna Fritts was a senior attacker and Susie Ropp a freshman attacker who combined to provide most of the scoring for California.
Fritts concluded her outstanding career with 112 career points, racking up 63 goals and 49 assists in 59 games. This senior year she was a team captain and Cal's team leader in points (63), goals (47) and assists (16). She was named to the All-MPSF Second Team.
Ropp gave display of her promise with a successful freshman year in which she was second on the team in assists (13) and points (40) and third on the team in goals (27). She scored four goals and an assist to help lead Cal to a 16-14 victory over Fresno State on April 24 and that performance enabled her to be named MPSF Rookie of the Week.
Hollis Perticone racked up 44 points with 33 goals and 11 assists in 21 games as a junior midfielder for Middlebury.
Daphne Budd was a freshman defender for Gettysburg College.
Ellie Bennett was a senior defender for Dartmouth College.
Samantha Nielsen appeared in three games as a sophomore goalie at Cornell.
Ali Gorab started in 21 of the 23 games she played as a junior defender for Gettysburg College and she was tied for second on the team with 32 ground balls.
Carolyn Paletta was a sophomore midfielder Brown who earned Honorable Mention All-Ivy recognition. Paletta started in all 14 games. She had 30 goals and six assists and was second on the team in both categories and registered a hat trick six times. Paletta led her team with 53 draw controls and was ranked fourth in the Ivy League in draw controls per game (3.79).
Anne Dunster and Milli Haimerl both made key contributions for Dickinson. Dunster collected 30 goals and 20 assists while starting in all 18 games as a sophomore midfielder. Haimerl started in 14 of the 15 games she played as a senior defender who had 26 ground balls.
Brooke Klair had 32 goals and 17 assists as a sophomore attack for Susquehanna University.
Emma Christie was a senior attacker who completed her career at Gettysburg College with 93 career points on 78 goals and 15 assists. As a senior she had her best season with 41 goals and eight assists.
Olivia Lazar was a sophomore defender at Bentley. Natalie Paletta was a sophomore defensive middie for Cornell.
Olivia Hompe had another fantastic season as a senior midfielder for Princeton University to put the wraps on a fabulous career in which she became Princeton's all-time scoring leader with 282 points and goal scorer with 195 goals. She is second all-time with 87 assists.
The tri-captain set the single-season record of 110 points (75 goals and 35 assists), she led the NCAA in goals per game (3.95) and finished third in points per game (5.79) while starting in all 19 games.
She was named Ivy League Attacker of the Year and was selected First-Team All-America, First-Team All-Region, First-Team All-Ivy League, Academic All-Ivy League and to the Ivy League All-Tournament Team. Hompe set six records in the Ivy League Tournament – goals in a game (seven) and in a tournament (10), assists in a game (six) and in a tournament (nine), and points in a game (nine) and in a tournament. This past great senior season followed up a junior season in which she was a team captain and the team's leading scorer with 59 points (47 goals and 12 assists) and was selected First-Team All-Ivy League and Third-Team All-America.
Hompe led a group of five players from the New Canaan High School Class of 2013 who played for the respective colleges. The others included Liz O'Sullivan (St. Joseph), Wheatley Raabe (California), Bea Eppler (Middlebury) and Abigail Sawabini (Colorado College).
Raabe was a senior defender who started in all 18 games for Cal and secured 15 ground balls.
Eppler was a senior attacker who fired in 29 goals and added three assists for Middlebury.
Sawabini wrapped up her very good career as a senior defender for the Tigers. She has been a regular starter since her sophomore year and she picked up 29 ground balls this year to finish her career with 104. She also scored four career goals, netting one in each season.
In addition to those handful of former Rams from the Class of '13 concluding their collegiate careers, New Canaan's classes of 2015 and '16 each had four young ladies on their college rosters.
The four from the New Canaan Class of '15 included Elizabeth Miller (Boston College), Isabel Taben (Dartmouth), Matt Novick (Lafayette) and Bailey Pilder (Gettysburg).
Miller had a very good sophomore season as defender who picked up 43 ground balls and was selected to the All-Atlantic Coast Conference Second Team for BC's Eagles. Miller also earned the Athletics Director's Award for Academic Achievement.
Novick was a sophomore defender who scooped up 25 ground balls as she started in 12 of the 16 games she played in her first year of action for Lafayette after being sidelined all of last year with an injury.
Pilder was a sophomore goalie who played a total of 241 minutes in 12 games for Gettysburg. She had 20 total saves and a .465 save percentage.
Alumni from the Class of '16 at NCHS who were freshmen on their respective college rosters included attacker Catherine Granito (Michigan), midfielder Sami Stewart (West Point) and defender Mia Carroll (Williams).
Stewart led her team's freshman class in virtually every category while playing in all 17 games and starting in 14 of them. She was sixth on the team with 26 points (17 goals, nine assists), she had 26 ground balls, was third on the team with 14 caused turnovers, and she was first for Army on the draw with 61 controls, which ranked her eighth in the Patriot League.
Carroll played in seven games at Williams.
Also from the NCHS Class of 2016, Kylie Murphy is bound for Butler after a postgraduate year at Westminster this past year.
Liana Mathias was a senior attacker for Wesleyan who racked up 45 points on 30 goals and 15 assists and was selected to the Intercollegiate Women's Lacrosse Coaches Association (IWLCA) Division III All-Berkshire Region First Team. She started in 45 of 61 games during her four-year career and collected 74 goals and 37 assists for 111 points.
Casey Briody was a senior defender and team co-captain who wrapped up her stellar career at Tufts by being named to the 2017 Intercollegiate Women's Lacrosse Coaches Association (IWLCA) All-Pilgrim Region Second Team. She was the team leader and fifth in the league with 37 ground balls and she also caused 14 turnovers.
Shauna Norris was a senior attack/middie who started in 35 of 51 games during her four-year career at American and compiled 30 points on 24 goals and six assists.
Maddie Burns was a sophomore goalie who played in 15 games and started in 12 of them at West Point. She earned all five of Army's wins in net, made 85 saves on the 304 shots she faced and was first on the team in ground balls with 40.
Kimmy Weinstock was a freshman midfielder who started in nine out of 14 games for Temple. She took the draw for the Owls a significant amount of time and ranked third on the team with 24 draw controls.
Sarah Strange played in 10 games as a sophomore defender for Iona. Sarah Kaiser played in eight games as a sophomore midfielder at Hamilton. Erica Ely was a junior defender at the University of California-Davis.
Amelia Heisler started in all 18 games as a sophomore defender for Lafayette and was third on the team with 37 ground balls.
Jenna McNicholas sophomore attacker who had 19 goals and three assists in 18 games for Middlebury College.
Anna Eichorn played in 11 games as a freshman midfielder for Wellesley and she did register the first goal of her career.
Samantha Kratky was a sophomore attacker at Lehigh.
Cecily Freliech had 18 goals and an assist as a sophomore midfielder at Tufts.
Olivia Hompe in action for the Princeton Tigers. — Princeton Athletics photo
Categories College News, FCIAC, Lacrosse News, NewsTags Abigail Sawabini, Ali Gorab, Allison Granata, Amelia Heisler, and Ashley McNamara, Andrea Tarsi, Anna Eichorn, Anne Dunster, Bailey Pilder, Bea Eppler, brien mcmahon, Brooke Klair, Carolyn Paletta, Casey Briody, Catherine Granito, Cecily Freliech, college corner, danbury, Daphne Budd, darien, Elizabeth Miller, Ellie Bennett, Emma Christie, Emma Kaplan, Geovanna Ferreira, greenwich, Hollis Perticone, Jenna Fritts, Jenna McNicholas, Julia Doyle, Kimmy Weinstock, Kylie Murphy, Lauren Guiry, Liana Mathias, Liz O'Sullivan, ludlowe, Maddie Burns, Majmah James, Matty Novick, Mia Carroll, Mikayla Ramos, Milli Haimerl, Molly Miller, Natalie Paletta, new canaan, Olivia Hompe, Olivia Lazar, Pauline Kaplan, ridgefield, Samantha Kratky, Samantha Nielsen, Sami Stewart, Sarah Strange, Shauna Norris, staples, Susie Ropp, Wheatley Raabe, wilton	Post navigation
Van der Els runs at Pan American Junior Championships in Peru this weekend
Van der Els strikes gold at Pan Am Junior track championships in Peru


Kid Nation is a reality-based series in which 40 kids will have 40 days to build a new world - in a ghost town that died in the 19th Century. These kids, ages 8-15, will spend more than a month without their parents or modern comforts in Bonanza City, N.M., attempting to do what their forefathers could not - build a town that works.
Episode #13: We've All Decided To Go Mad!
Episode #12: Where's Bonanza, Dude?
Episode #10: Let Me Talk!
Whats With All The Sores?