Wednesday, December 07, 2005

The Jonestown Blogos Fear



How does it feel to be a renter when the homeowners in your Sedona, Arizona neighborhood are enjoying double digit annual appreciation in their property value? How does your wife view your choice to rent because you insist there is an "impending housing crash?" Does she think you may be nuts? To prove you aren't nuts do you start a housing bubble blog? In case your wife logs on, do you delete any opinion that may dispute your housing crash dogma?

15 Comments:

At 9:58 AM, Blogger Rob Dawg said...

Some people drink the Kool-Aid. Others eat the pudding and try to claim the Kool-Aid drinkers are crazy.

 
At 4:48 PM, Blogger AmazedRenter said...

A lot of traffic here. Man, good thing you get rewarded for this awesome blog. Keep up the great great work.

We really appreciate your valuable contributions. Have a margarita on us.

 
At 4:57 PM, Blogger jack mehoff said...

Hey Amazedrenter (aka ben jones), here is your post on Jonestown today which proves my point, i.e., fear of wife and losing out on all that dough:

AmazedRenter said...
I'm trying to think of the last time someone denied the bubble existed? It has been a while. Where did all those experts go?

Even my wife is now relieved we are renting. Meanwhile, my neighbor followed through on becoming a real estate investor. He is buying a 1979 apartment for $210k with a 5/1 IO ARM. He now has 2 5/1 IO ARMs (his own residence plus the "investment property").

 
At 8:45 PM, Blogger jack mehoff said...

Ben Jones has proven that he is indeed scared shitless, a leader of the blogos-fear of housing bubble wackos. Here is what we see when we try to post to his Jonestown blog:

Comment moderation has been enabled. All comments must be approved by the blog author.

Ben Jones, grow a pair, amigo.

 
At 9:31 AM, Blogger NJGal said...

I think I missed the posts that have lead to your hatred of Ben. Is it that you disagree with him or is it something else? Seriously, I'm wondering.

 
At 12:06 PM, Blogger jack mehoff said...

njgal, you've missed the posts because ben deleted them all, which explains my dislike of his blog. He has publicly stated he wishes his blog to be viewed one hundred years hence as an accurate representation of the housing "bubble" which he has been predicting for five years. However, as you have noticed, he deletes the opinions of anyone with a view other than his own. He calls himself a "freelance writer" yet his blog is little more than a compilation of words written by others expressing views he likes. He is, in fact, a freelance cut-and-paster. In summary he is a gutless plagerist posing as a historian. nuff said?

 
At 12:33 PM, Blogger NJGal said...

Got it. You say it a tad harshly, but I get your general drift. I happen to like Ben's blog myself precisely because it's a compiliation - I don't have time to scroll around everywhere. I do read alternate opinions too though. Can't really form a good opinion if you don't read both sides, right?

 
At 3:18 PM, Blogger tookiegottheneedle said...

The world famous author of children's books will die by lethal injection in California tonight at midnight. Does anybody care? Or are you all so self absorbed in your blogosphere you won't notice the city burning to the ground around you? Tookie Williams may have had a bit of a rough start, creating the Crypts street gang and killing a few innocent folks with his shotgun but can't you cut the guy some slack? What if Alan Greenspan or B-52 Ben "Spanky" Bernanke was getting the juice tonight? Would that make you happier? Be honest. It would.

 
At 9:18 PM, Blogger John Doe said...

This comment has been removed by a blog administrator.

 
At 9:23 PM, Blogger John Doe said...

Tookie should have become a real estate speculator, then everyone would have loved him. We would have never let him die if he had only just bought bay area real estate!

On a more serious note, I read the BJ site on a regular basis, and was truly disappointed in the new comment moderation. I thought the blogosphere was all about freedom of speech and opposing viewpoints? I certainly get some trolls on my blog, the only requirement is that they substantiate claims. Of course, they rarely do.

There is another great blog that I frequent called General Glut's Globblog, and there is some character there posting by the name of Corporal Glut that gets me to laugh every time, and he never agrees with the General.

 
At 7:22 AM, Blogger happy hands said...

Ben Jones really is scared shitless! Today I posted some goodnews to his Jonestown blog and he cut it immediately. I posted DataQuick report showing Riverside and San Bernardino median home prices rising in November, year over year, by 24% and 17% respectively. You won't find good news on the Jonestown blog because Ben Jones won't allow it. What a piece of cr*ap, Jones. Grow a pair! By editing news you don't like you are rewriting history as it happens. Don't pretend you are anything but a self serving hack.

 
At 7:31 AM, Blogger NJGal said...

Happy hands, I have read that too -inventory rising, sales falling, yet prices rising. It's kind of strange. But even if Ben wouldn't let it on the blog for whatever reason, I'm not sure that counts as "good" news - I think we need to wait it out a little to see what happens. That news doesn't scare me, for one. Reports are a little conflicting right now, and I never trust the media or realtors or really anyone when it comes to this stuff - everyone has their own agenda.

 
At 8:43 AM, Blogger Rob Dawg said...

I own (me, not the bank) in San Bernardino County so I watch the markets in its special areas. Market activity in both the special and general areas is still strong. There is a lot of unmet demand. It would take a very long time to work off/scare off that demand. Don't ask me why, you know my opinion of the Inland Empire. Jack and I share one trait, we aren't afraid of the facts. I'm pretty sure Ben deleted one of my posts for daring to suggest that gold is no longer any better than most commodities. The DQNews for Nov was amazing. Anyone who thinks 14 of the last 17 months showing 30% plus y-o-y increases is anything less than positive is fooling themselves.

Places like the IE are going to see a lot of shuffling after the run up is long gone. The word is remodeling. This because the area is changing rapidly and people are changing their values. The rapid change is driving people looking for a little breathing room further out. The changing values as familes change and people look for shorter commutes or whatever. The IE has reached a sort of critical mass as it feeds off its' own economy and is no longer purely a suburb of LA. No evidence of a bubble pop there yet. California the last time was also late to start the decline and stayed in a deeper but more gradual decline 1991-1995. The -only- -potential- -possible- worry is the increasing use of exotic financing but nobody knows how that will work out. Anybody cheerleading for a bubble bursting is going to have to explain San Bernardino.

 
At 1:13 PM, Blogger jack mehoff said...

Ben Jones continues to post altered documents to his Jonestown blog. Here is today's example in which Jones tries to protect the identity of a national house builder. First, the real cut and paste version from the Sacramento Bee:

"Sales of new homes in the area fell 49 percent in the September-through-November period compared with last year, according to the Building Industry Association, which tracks 55 percent of the market.

Builders are offering incentives worth thousands of dollars and are giving away upgrades - nicer kitchen counters, for example - ordered by previous buyers who backed out.

"None of us is saying, 'Ah, it's just seasonality and it will pick up in January,' " said Kevin Carson, president of the Sacramento division of John Laing Homes."

*Now, the verson altered by Ben to protect the builder. What is missing from the Jones "quote?"

"None of us is saying 'Ah, it's just seasonality and it will pick up in January,' said (builder) Kevin Carson."

What is Ben Jones so afraid of? Why is he such a wimp? More importantly, why is he rewriting history as it happens? Remember, when you log onto his Jonestown blog, the "quotes" you read have been altered.

 
At 3:49 PM, Blogger John Doe said...

Hey Jack, what's about another post?

 

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