Mike Pennington » Uncategorized

Stats Can Sell Anything…

Mike Pennington — Mon, 29 Nov 2010 15:51:16 +0000

…but I feel cheated when they lead me into a well founded argument and dump me right into a sales pitch.

My friend Brad sent this link of an article discussing the future of home pricing. The author suggests home prices have another 20% to fall. While the author makes a great argument he is full of bologna. (IMO) After reading the article, I knew why Brad had sent it. Take 5 minutes, read it and tell me how you feel.

Here was my (candid) response to Brad:

Even after TMI and reliable stats that paint a negative picture , I find it hard to believe that home prices have another 20% to fall. If employment corrects even slightly there will be many purchases. Interest rates are too cheap not to buy unless one is afraid of not having a job, at all. If interest rates increase it will be the result of: 1) a govt pull out of FHA insured loans (which ain’t gonna happen unless the man wants our economy to implode) or 2) because the economy is booming so that inflation is rampant. The author makes a great case using fact and figures but once some logic is applied Mr. Shillings argument seems ridiculous.

The Bigger Picture

As our economy moves forward, more people like me and you, folks who want to pay for the stuff, might become convinced to give up on the dream. The result will be strategic foreclosure where the banks will have to step in to protect principal and say “forget the interest” part of the mortgage payment. Homeowners don’t need a bailout, they need a temporary repreive of interest payments.

Give them a few years to pay down the principal and there you have it, they can sell for what they owe. Either way, the banks are going to be out the cash either by preemptive agreement with a homeowner or via mass foreclosure from the pillars of our society. Seriously, if I have to come to closing with $50,000 to $100,000 from a retirement plan, just to close the sale of my home, they bank can just have the keys. I’ll keep the cash for when I am old and gray cause at this point, I’m not sure I can make that up.

You can lead me to water but if you shove my face into it I won’t drink! (on GP)

Of course Mr. Shilling makes a well executed argument, right up to the 26th slide where I quickly realized it was an f’in sales pitch for his information service. Which then made me contrarian to his entire argument. I don’t like being sold. Does anyone? Or am I special? Give me the DIVE and I’ll make my own decisions thank you.

Chattahooche Nature Center

Mike Pennington — Sat, 31 Oct 2009 00:38:06 +0000

Pre-Halloween party in East Cobb near the “Hootch”.

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Dropping off the kids at 3:30 a.m.

Mike Pennington — Fri, 23 Oct 2009 08:03:58 +0000

Dropping off Gaye, Stephanie, and Jake for the start of the Atlanta 3 Day Walk. Good luck guys, stay dry. Will see you on Sunday!

(me–I am going back home to bed)

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MaxTech Thursday at Pure Woodstock

Mike Pennington — Thu, 22 Oct 2009 19:14:51 +0000

Another tech talk Thursday where Maxsell leads a discussion on RETechnology at Pure Taqueria in Woodstock. Supporting our local Economy.

From the iPhone of:

Mike Pennington
678.522.7022

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Dropbox App for iPhone

Mike Pennington — Thu, 08 Oct 2009 20:07:41 +0000

Dropbox is an awesome file share system for multiple p/c or person to person sharing. You can mark files as favorites and they will sync w/ iPhone.

From the iPhone of:

Mike Pennington
678.522.7022

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Realtors Desk

Mike Pennington — Mon, 05 Oct 2009 17:40:47 +0000

Photosketch App for iPhone

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Dunkin Donuts Takin Care of Business

Mike Pennington — Mon, 05 Oct 2009 17:16:24 +0000

After the big Atlanta Floods. Here is DD taking care of business. Store was flooded with 3 feet of water so they brought in an 18 wheeler for temporary coffee and donut fixes. Yeah!

From the iPhone of:

Mike Pennington
678.522.7022

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I just found a Money Tree

Mike Pennington — Fri, 02 Oct 2009 15:55:17 +0000

I just found a Money Tree at the OK Cafe. Not sure if the tree is real or if the business is the money tree. A true Atlanta Landmark. Always full. Great place to do business or just for fun.

From the iPhone of:

Mike Pennington
678.522.7022

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AT&T Carrier Software Update for iPhone is Available

Mike Pennington — Mon, 28 Sep 2009 02:03:29 +0000

Have you downloaded the update for the AT&T iPhone settings? It allows you to send a pic using the messaging app. You can either take a picture and send or use an existing pic on the phone.

Now, we need to get the video unlocked without a jailbreak

From the iPhone of:

Mike Pennington

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AT&T iPhone Carrier Update

Mike Pennington — Mon, 28 Sep 2009 01:57:24 +0000

Have you downloaded the update for the AT&T iPhone settings? It allows you to send a pic using the messaging app. You can either take a picture and send or use an existing pic on the phone.

Now, we need to get the video unlocked without a jailbreak.

From the iPhone of:

Mike Pennington
678.522.7022

Posted via email from mikesperspective’s posterous