And he was kind.
I am now armed with my antibiotic of choice, Clarithromycin (Biaxin) which kills everything that is not you. Thanks doc! I should feel better as soon as tomorrow afternoon. This would be good as I have slept about 6 hours this week.
Maybe it is because I am cranky and in pain, but I found some articles today that recaptured my nasty side when it comes to things economic. I hung up the "try to help things" towel a while ago but items like the following deserve a look even if they don't matter at all.
Saw this link over at The Big Picture site:
Four States Consider Legislation Barring Distressed Sales as ComparablesThere is a discussion at the link about how this will put appraisers in a bad spot legally.
Homebuilders and real estate sales agents are concerned that the prevalence of distressed sales, and their subsequent use as comparables, is resulting in the appraised value of residential properties not matching the contract sales price, or in the case of new construction, the cost to build.
The Missouri legislation, known as House Bill 292, would prohibit appraisers from using a property that has been sold at a foreclosure sale as a comparable. Similar to the Missouri proposal, the Illinois legislation would prohibit appraisers for the next five years from using as a comparable sale “a residential property that was sold at a judicial sale at any time within 12 months.”
The Nevada legislation would prohibit the use of foreclosures and short sales. The prohibitions contained in the Maryland legislation are somewhat broader and include any property that was sold under “duress or unusual circumstances, such as a foreclosure or short sale.”
This is just so unreal I have to leave it alone. Cannot wait until they bar sales of any stock more than 5% under it's closing price at it's all time high! Any idiot paying a stupid appraised price for a new/used home without considering the distressed sale prices is a fool that deserves to get fleeced 100% and then bailed out. This is your world folks.
The Automatic Earth has a guest post from reader El Gallinazo that demands your 5 minutes to read it. Yes, you could read about how Groupon will be worth a trillion dollars or that Twitter will make your life more happy as you gain social influence but you would be better served on a mcro level to check this one out:
Cookie Inflation and the End of Quantitative Easing
No excerpts, you have to read the whole thing.
Have a good night.