Friday Afternoon Humor From JP Morgan

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Fri, 10/21/2011 - 15:49 | 1798294 PicassoInActions
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Great, i am going to foreclose one and get one from JPM

Are they giving free lonas with negative interes?

 

Fri, 10/21/2011 - 15:53 | 1798324 flacon
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Is it a good time to buy a hobby farm, out in the sticks (Canada)? My elderly parents were wondering.

Fri, 10/21/2011 - 15:54 | 1798331 SGS
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David Lebovitz.

Nuff said.

Fri, 10/21/2011 - 16:01 | 1798345 hedgeless_horseman
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Allow me to save you some time with this condensed version.

BTFDYFI

Fri, 10/21/2011 - 16:18 | 1798444 dwdollar
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"Many observers at the time realized that too many houses were being built, homeprices were rising too quickly and lending standards were being dangerously compromised in fueling the bubble."

LMAO... that's not how I remembered it. All I heard was buy, buy, and buy another one. Rewrite history much?

Fri, 10/21/2011 - 16:41 | 1798529 MrBoompi
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"Many" as in the Fabulous Fab and John Paulson....

Fri, 10/21/2011 - 17:07 | 1798602 Fukushima Sam
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Housing: Now is the Time to Buy MBS

A Presentation to the Federal Reserve

Fri, 10/21/2011 - 19:51 | 1799101 Henry Chinaski
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Yow!  Just blew vodka out my nose.  Would appreciate a more specific warning.

Sat, 10/22/2011 - 01:21 | 1799586 AldousHuxley
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vodka and zerohedge Friday night is not the ideal way to prep for the weekend...unless you were about to buy a house. Because Fed is so confident in the economy that they said they will have ZIRP for next 2 years.

 

 

 

 

Fri, 10/21/2011 - 18:45 | 1798895 Pool Shark
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I believe the correct quote is:

"Now is a good time to buy, or sell a home."

http://bigpicture.typepad.com/comments/images/its_a_great_time.png

Thank you David Lereah...

http://www.irvinehousingblog.com/wp-content/uploads/2008/01/david-lereah.jpg

Fri, 10/21/2011 - 19:54 | 1799108 J 457
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Strange, I heard the same buy, buy, buy story for stocks this last week as well.

Fri, 10/21/2011 - 21:07 | 1799251 spiral_eyes
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the time to buy will be at 10oz/ AU: 1 Median house.

Fri, 10/21/2011 - 16:00 | 1798370 nope-1004
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I love the disclosure right next to the logo at the end:

NOT FDIC INSURED | MAY LOSE VALUE | FRAUDS R US

Fri, 10/21/2011 - 16:10 | 1798412 Unprepared
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Is it normal all I can see is a two-wheeler desperately spinning out of a recurring dream instead of what is supposed to be pdf file ?

I am missing the humour.

Fri, 10/21/2011 - 16:30 | 1798496 Jena
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and in the really tiny print:  BITCHEZ!

Fri, 10/21/2011 - 15:55 | 1798333 Western
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The only bubbles appear to be Vancouver and the tar sands cities like Calgary/Edmonton.

Fri, 10/21/2011 - 15:58 | 1798353 flacon
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Looking at S.W Ontario. Land prices are pretty steep: $700,000 for 10 acre crop farm. I don't know if that is a "bubble" or not...

Fri, 10/21/2011 - 17:47 | 1798719 Arkadaba
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SW Ontario land is pretty rich (in a farmland type of way). 

Fri, 10/21/2011 - 15:56 | 1798338 Stevious
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The problem with "out in the sticks" is what happens when gasoline goes to $15/gallon?

Fri, 10/21/2011 - 15:58 | 1798349 kaiserhoff
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No one sends food to New Yawk or DC.

Fri, 10/21/2011 - 16:20 | 1798462 dwdollar
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And small towns regain their significance.

Fri, 10/21/2011 - 16:35 | 1798511 NotApplicable
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Richard Cantillon's Essay on the Nature of Trade in General laid it all out nearly 300 years ago.

Fri, 10/21/2011 - 19:20 | 1799009 Old Poor Richard
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Good luck with that.

Read The Hunger Games, a book for teenagers about what totalitarian government does when insurrectionist/secessionist regions stop sending Caesar's share back to Rome.

Fri, 10/21/2011 - 16:24 | 1798476 mynhair
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Why wait?

Fri, 10/21/2011 - 16:00 | 1798364 LawsofPhysics
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Guess that depends if you have to drive to work and/or how far away your food actually has to travel.  Might want to avoid population centers for a while.

Fri, 10/21/2011 - 16:02 | 1798381 LongBallsShortBrains
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Horses increase in value.

Fri, 10/21/2011 - 16:32 | 1798503 Village Idiot
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"Horses increase in value"

Spoken like a true horse trader.lol

Fri, 10/21/2011 - 15:56 | 1798340 chet
chet's picture

Amazingly, the bubble hasn't popped yet in Canada.  Buyer beware.

Google what you can buy in Vancouver BC for $1 million.  It's funny.

Fri, 10/21/2011 - 15:59 | 1798361 hedgeless_horseman
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Thank the Chinese.

Fri, 10/21/2011 - 17:25 | 1798645 Paul Bogdanich
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"Thank the Chinese."

Germans actually.  Which you might know had you ever been there.

Fri, 10/21/2011 - 16:32 | 1798491 Catch-22
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Actually it's popping as we speak... Some areas have gone cold and inventories are mushrooming. The prices really have not gone dawn yet cause sellers are waiting for the soft spot to pass (transitory) and are holding their price. Unless your a momo, know is the time to short that bitch.

 

Fri, 10/21/2011 - 16:37 | 1798521 NotApplicable
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Just wait until Fukushima finishes enriching the place. Then the fun really starts.

Fri, 10/21/2011 - 18:47 | 1798915 PMakoi
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LMHA (laugh my hair off)

Fri, 10/21/2011 - 17:50 | 1798731 Arkadaba
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Not quite yet.

Fri, 10/21/2011 - 17:37 | 1798673 doomz78
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  • The canadian government is ignoring high inflation so their precious real estate market doesn't explode.  The more I look at it the more I see that we are also screwed in Canada.  Keep those interest rates low dummies.  The bubble is now ginormous.  Vancouver, Then Calgary, Then Toronto.   The biggest bubbles will pop first. 

Ben Bernanke also has a part in this...  Canadian central bank had to keep interest rates low to "compete" with the global market.  lol  In this competition you want your currency at zero.  F-cken meatheads.  Ben Bernanke is like a retard hopping along in a potato sack, so what does Mark Carney do? (Canadian central banker)  He grabs a potato sack, has a 26'er or rye and decides to race the other retard Bernanke.  Don't they look smart.  Two retards hopping side by side in an open field with genuine dumb ass grins on their faces.  It's a thing of beauty.  The race to create the next bubble.  ahhhhhhhhhhhhhh 

Fri, 10/21/2011 - 18:10 | 1798793 Arkadaba
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I kind of agree that there is a real estate bubble in Canada. But...I'm so happy to be back home. Canada is a large country with a small population with incredible resources. We will do well. Unless the US invades us because of all the arctic oil. Or Jamie Dimon wants to take his smackdown of Carney to the next level. Canadian investors aren't that smart and they are conservative. They didn't take risks via CDS so little exposure.

Fri, 10/21/2011 - 23:33 | 1799497 Dirt Rat
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Have you played Crack Shack or Mansion?

Sat, 10/22/2011 - 02:18 | 1799616 Hicham
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That's an excellent site! Pretty funny haha

Fri, 10/21/2011 - 17:02 | 1798585 Desert Irish
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nah...wait until we have our housing crisis.....people running aroung my neighborhood with $500K / $600K mortgages because the banks let them. Because we're Canadian nothing's going to happen here like the US housing market.  Yep.....stay tuned  

Fri, 10/21/2011 - 18:13 | 1798807 prains
prains's picture

Is it a good time to buy a hobby farm, out in the sticks (Canada)? My elderly parents were wondering.

 

if you have to refer to canada as the sticks, chances are your attitude as well as your parents won't be welcome there for too long, you might want to try hobby farming in east LA instead

you'll go over great there.

Fri, 10/21/2011 - 15:57 | 1798335 nope-1004
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Just makin' Jamie proud so when they all meet at Roosters later today the idiot author can say he recommended something.

 

Fri, 10/21/2011 - 15:49 | 1798302 maxw3st
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How could anyone trust a bank for investment advice at this point? Rule of thumb, if a bank is selling, so should you-first if at all possible.

Fri, 10/21/2011 - 16:31 | 1798502 azusgm
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Remember that you are their counterparty, not their client.

Run Little Rabbit, run, run away.

Fri, 10/21/2011 - 15:50 | 1798304 Careless Whisper
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the only thing it may be a good time to buy is some JPM put options

Fri, 10/21/2011 - 15:50 | 1798307 DavidC
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Forgive my language but what fucking planet are these morons on?

DavidC

Fri, 10/21/2011 - 16:18 | 1798447 Unprepared
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On planet earth. Just on a different dimension. Hence the talk about "Surreal" by some ABBA fun chairman turned philosopher, proving they are all deep inside Plato's cave.

Fri, 10/21/2011 - 16:34 | 1798510 mayhem_korner
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You may have coined a new phrase..."surreal estate."

Fri, 10/21/2011 - 16:36 | 1798515 caerus
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i wish i had thought of that

Fri, 10/21/2011 - 17:25 | 1798644 Reptil
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awesome

Fri, 10/21/2011 - 16:37 | 1798523 duo
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Yup.  10,000 baby boomers retiring every week (and probably wanting to sell their house to some schmuck), 85% of last year's college grads living with their parents, less people making $50K or more per year than there was in 1997!  Where is the greater fool going to come from to buy your house?  No household formation equals no demand.

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