Headlines...

[quote author="Nude" date=1256310128][quote author="graphrix" date=1187165655]Whoa did I not catch where the Yen traded yesterday? At 1:15 AM it is at 116.77.</blockquote>


Anyone else remember the fear and trepidation we all felt seeing the carry trade unwind as the Yen kept dropping?



As I type this, CNNMoney is showing the Yen at 91.80 and wavering. I read a few pages of this thread after this post by crackercakes and I have to say... it sure seems like things should have been much worse than they turned out to be. Could it be that we've talked ourselves into a vision of the future that is as wildly off track as some of the predictions we made back in July of 2007?</blockquote>


Nope. Things are bad. Unemployment at double digits for the next 12-24 months will demonstrate just how painful.
 
SC, IR2, Rolar...get in here and defend your honor



<a href="http://www.suntimes.com/news/brown/1853002,CST-NWS-brown29.article">Superfreaky idea pits pimps vs. real estate agents </a>



"A Realtor and a pimp perform the same primary service: marketing your product to potential customers," Levitt and Dubner explain.



Brushing off the fact that real estate agents actually do the sales work for the property owner, the authors conclude that "once you consider the value you get for each of these two agents, <span style="color: red;"><strong>it seems clear that a pimp's services are considerably more valuable than a Realtor's."</strong></span>
 
[quote author="morekaos" date=1256949808]SC, IR2, Rolar...get in here and defend your honor



<a href="http://www.suntimes.com/news/brown/1853002,CST-NWS-brown29.article">Superfreaky idea pits pimps vs. real estate agents </a>



"A Realtor and a pimp perform the same primary service: marketing your product to potential customers," Levitt and Dubner explain.



Brushing off the fact that real estate agents actually do the sales work for the property owner, the authors conclude that "once you consider the value you get for each of these two agents, <span style="color: red;"><strong>it seems clear that a pimp's services are considerably more valuable than a Realtor's."</strong></span></blockquote>


If you work for money, you are a prostitute. If you don't, you are a bump. Can't win when you argue with certain type of people, you know.
 
[quote author="morekaos" date=1256949808]SC, IR2, Rolar...get in here and defend your honor



<a href="http://www.suntimes.com/news/brown/1853002,CST-NWS-brown29.article">Superfreaky idea pits pimps vs. real estate agents </a>



"A Realtor and a pimp perform the same primary service: marketing your product to potential customers," Levitt and Dubner explain.



Brushing off the fact that real estate agents actually do the sales work for the property owner, the authors conclude that "once you consider the value you get for each of these two agents, <span style="color: red;"><strong>it seems clear that a pimp's services are considerably more valuable than a Realtor's."</strong></span></blockquote>
That article is specifically picking on listing agents, but it was an entertaining read. Reality is that most realtors are worthless and a waste of space but there are some very good ones out there that do provide value for their clients. I have been accused of pimping out the services of my mom and dad, but hey they are great at what they do so why not?
 
[quote author="morekaos" date=1256949808]SC, IR2, Rolar...get in here and defend your honor</blockquote>


To my knowledge, I have never represented any of Nude's former girlfriends, in any transaction.

<strong><a href="http://www.irvinehousingblog.com/forums/viewthread/6444/P75/#134373">(reference)</a></strong>



xoxoIR2
 
[quote author="IrvineRealtor" date=1256958490][quote author="morekaos" date=1256949808]SC, IR2, Rolar...get in here and defend your honor</blockquote>


To my knowledge, I have never represented any of Nude's former girlfriends, in any transaction.

<strong><a href="http://www.irvinehousingblog.com/forums/viewthread/6444/P75/#134373">(reference)</a></strong>



xoxoIR2</blockquote>


I'll lay 7-2 that you have and never suspected ;)
 
[quote author="morekaos" date=1256949808]SC, IR2, Rolar...get in here and defend your honor



<a href="http://www.suntimes.com/news/brown/1853002,CST-NWS-brown29.article">Superfreaky idea pits pimps vs. real estate agents </a>



"A Realtor and a pimp perform the same primary service: marketing your product to potential customers," Levitt and Dubner explain.



Brushing off the fact that real estate agents actually do the sales work for the property owner, the authors conclude that "once you consider the value you get for each of these two agents, <span style="color: red;"><strong>it seems clear that a pimp's services are considerably more valuable than a Realtor's."</strong></span></blockquote>


The majority of realtors are useless, but at the same time, the majority of realtors don't make any money. There's a low barrier to entry, not much fixed/operating costs, and lots of potential money to be made. Why aren't more and more people getting in the business making all this easy money if it really is just that easy? Pride? Please.. not if money is involved.
 
I wish this thread was like it was back in the day when people cared. But, <a href="http://www.mcclatchydc.com/227/story/77852.html">THIS IS THE MUST READ ARTICLE</a> in a long time. This article still doesn't dive into WHO brokered the loans, and WHAT the "exceptions" were. If they did... it would blow the roof off of NC and GS.
 
Hi all,



Newbie here. Thanks for the good read Graphix. I can attest to some of the things said in the article. I actually traded those securitized subprime mortgages from the buyside perspective back in 2004. At that time we could see that it was crap collateral, which was why we only stuck with the safest issuers and stayed with the shorter maturity stuff. However, investment banks were absolutely insane with the amount and frequency of these deals. They were feeding on fees with no consequences. Obviously, they had a conflict of interest which is where the rating agencies come into play. The rating agencies were suppose to step in give investors a better idea of the shxt that they were buying. Well... now we know how useful they are. Having said that though, the GS traders are always known for their inside edge. We all suspect that they "accidentally" receive information from the investment banking side of biz which they are not suppose to.
 
[quote author="morekaos" date=1256949808]SC, IR2, Rolar...get in here and defend your honor



<a href="http://www.suntimes.com/news/brown/1853002,CST-NWS-brown29.article">Superfreaky idea pits pimps vs. real estate agents </a>



"A Realtor and a pimp perform the same primary service: marketing your product to potential customers," Levitt and Dubner explain.



Brushing off the fact that real estate agents actually do the sales work for the property owner, the authors conclude that "once you consider the value you get for each of these two agents, <span style="color: red;"><strong>it seems clear that a pimp's services are considerably more valuable than a Realtor's."</strong></span></blockquote>


Ok, I am near the bottom but at least I am not last...



<a href="http://www.harrisinteractive.com/harris_poll/index.asp?PID=685&ref=patrick.net">The lowest ratings for "very great prestige"</a> go to real estate brokers (6%), stockbrokers (11%), business executives (11%), actors (12%), union leaders (12%), journalists (16%) bankers (17%), accountants (17%), and entertainers (18%).
 
[quote author="morekaos" date=1259201185][quote author="morekaos" date=1256949808]SC, IR2, Rolar...get in here and defend your honor



<a href="http://www.suntimes.com/news/brown/1853002,CST-NWS-brown29.article">Superfreaky idea pits pimps vs. real estate agents </a>



"A Realtor and a pimp perform the same primary service: marketing your product to potential customers," Levitt and Dubner explain.



Brushing off the fact that real estate agents actually do the sales work for the property owner, the authors conclude that "once you consider the value you get for each of these two agents, <span style="color: red;"><strong>it seems clear that a pimp's services are considerably more valuable than a Realtor's."</strong></span></blockquote>


Ok, I am near the bottom but at least I am not last...



<a href="http://www.harrisinteractive.com/harris_poll/index.asp?PID=685&ref=patrick.net">The lowest ratings for "very great prestige"</a> go to real estate brokers (6%), stockbrokers (11%), business executives (11%), actors (12%), union leaders (12%), journalists (16%) bankers (17%), accountants (17%), and entertainers (18%).</blockquote>


Dude.. I don't give a crap about prestige. If a fire fighters makes $25,000 a year and IR2 makes $300k in commissions a year... that is all that matters at the end.
 
[quote author="25inIrvine" date=1259205297]The dollar sign is all that matters in the end? What if it is the pimp making the $300k? Or some other form of illegal activity making 500k?</blockquote>


Who said anything about pimps or being a big time heroin and cocaine dealer ? I just don't see Real Estate Agents as the same class as used car sales man. I see them as professionals and if you are top of your class like IR2.. you can potentially make upwards of $200k - $300k a year, more than what doctors or lawyers may make in a entire year. That is all I am trying to say.
 
Sorry, was just playing devils advocate. The pimp idea came from the red up above. Just thought you meant the money is all that mattered based upon this plus the millionaire thread.
 
[quote author="PANDA" date=1259206192][quote author="25inIrvine" date=1259205297]The dollar sign is all that matters in the end? What if it is the pimp making the $300k? Or some other form of illegal activity making 500k?</blockquote>


Who said anything about pimps or being a big time heroin and cocaine dealer ? I just don't see Real Estate Agents as the same class as used car sales man. I see them as professionals and if you are top of your class like IR2.. you can potentially make upwards of $200k - $300k a year, more than what doctors or lawyers may make in a entire year. That is all I am trying to say.</blockquote>


You're crazy. Dope dealers, used car salesmen, and realtors are all sales related jobs. They are EXACTLY the same - except the barriers to entry to be a dope dealer are higher.
 
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