Guy’s February sales report showed "equity sales" representing 26% of all sales. An equity sale is defined as basically not a short sale or REO. It includes sellers who actually have equity in their properties, or those who bring cash to the table at closing (CTT on the spreadsheet). I was able to track 85 of the 87 equity sales Guy reported:
– 7 were builder sales, just listed on the MLS.
– 15 were properties being resold after a Trustee’s Deeds to private parties (NRES, Wood is Good).
– 2 were flips after REO sales.
So at least a quarter of the "equity sales" are either tainted or are MLS aberrations. You can run your own percentages, but true organic sales are far less that 26%, and correspondingly distressed sales are higher than 74%.
Median sales price for this group was $220,000. I thought that the true organic sales might be higher.
Here’s the chart. I’m guessing on some of the equity sales as I haven’t thoroughly vetted all the loans involved, but it gets us into the ballpark.
But what really stunned me was in the "terms" column. 25 of the 85 sales were for cash (plus 28 conventional, 25 FHA, and 7 VA). CASH buyers in our distressed market. Are they lemmings or lions?
Guy and I joke about the inverse relationship between the time we put into researching a post and the number of comments received.
This one was a huge slog for me, and i hope you find it interesting enough to comment on.
BanteringBear
I suppose “illogic” works in bob_c’s sentence, but illogicality was what my mind thought belonged there. Anyway, bob_c, feel free to tear apart my posts. Get in line, though.
DonC
billddrummer — Very sorry to hear about your situation. Hopefully you’ll put this behind you as you move forward.
billddrummer
To DonC,
I thought I’d gotten past them myself. It’s just the idea that people are now questioning whether they should or shouldn’t buy property, when even having that choice is a privilege.
I’ve also lost a marriage and a job, but those are other stories for other times.
In the meantime, I’m almost finished with the first draft of my novel. Right now it’s fit for me to read, but no one else.
I’ll let you know when it’s ready for public consumption.
derrick
what do you mean there is NO literal way to short housing?
At last check I shorted home builders 2 YEARS ago and made a KILLING…
idiot….
derrick
hmm actually MORE than 2 years ago..
derrick
Why isn’t anyone paying attention to me?
MikeZ
Unrelated to everything else in this topic, but funny as hell: http://tinyurl.com/yb2gsyg
The Onion: I Wasn’t Going To Buy This House Until I Saw The Realtor’s Headshot On The Sign
nunzio
derrick which contract on what exchange are homebuilders??
BanteringBear
I fail to see how shorting homebuilders equates to shorting house prices, specifically Reno, NV house prices. Perhaps somebody else can enlighten me.
bob_c
BB-
using grammar is the last line of defense
in an internet dispute and really futile
not being versed in this topic i propose to
this board to seek out ‘short’ candidates as
specific to the reno real estate market as possible——how could one make money if the
market goes down
there has got to be a REIT of some type
or i’m open to any ideas on how to profit
on the way down
this is a legimate request and there are some pretty knowledgable cookies posting here
CommercialLender
MikeZ, that was classic!! Recall a few months back when I questioned why all Realtors (TM) have head shots? If I put my photo on a loan app or purchase contract, it would be racist.
****
Not that I spend much time in defense of anything BB says, but I believe his ‘shorting’ comment was not literally meant shorting a RE index per se but taking a position to profit from a downward sliding market, in his case SFR values dropping. That was his bet; buying was Smarten’s bet – we get it. I ‘shorted’ too, by selling my primary and renting and by selling an investment home. Oops on my other real estate investments that weren’t so lucky, but oh well. I’m forced to hold for the long haul, or ruin my credit, but I made that bed and I’ll lie in it.
****
BB, you and Smarten and others spar often, yet Smarten and others, myself included, have told everyone our backgrounds enough for readers to be able to make their own assumptions on bias and validity of whatever assertion we make. You have not, unless I missed it.
Did you or did you not buy a house in the past 3.5 years that you still own? Don’t need details, just would like to know if you took the advice you offer or if you are offering advice you wish you took.
Sully
bob_c; I read an article yesterday regarding your question. REIT’s have moved up since Mar/09 to the point that they are no longer being recommended by most market gurus.
The XHB took its worse dive in 2007 and now looks like it is staging a comeback. Individual stocks usually do move before the rest of the market catches on.
Since the REIT and XHB index are dependent on the member stocks, I would think now is not the time to chance a small profit versus a potentially large loss
even though I think the market may yet go lower. The risk/reward ratio does not look that appealing to me, as compared to a potential crash in the Dow, S&P 500 and NASDAQ. A much broader base in which to pick from.
BanteringBear
CommercialLender-
I’m not here offering advice. I’m posting about a housing bubble, and the negative economic effects poor governmental policies have had on this country and it’s people. My personal situation is unimportant. I don’t care who you are, nor should you care who I am.
billddrummer
To CL,
Thanks for calling out BB.
And to BB,
What’s the big deal? Just answer the g*dd*mn question, OK?
CommercialLender
“I’m not here offering advice.” Nice try. How about for the past several years not only have you been ‘offering’ advice but repeatedly you’ve lambasted others for stating rationale for and acting contrary to your opinion. My question was/is simple: as we’ve all offered strong opinions herein but some of the more vocal ones have done so with disclosures as to their situations, why not shed light on whether you are a homeowner or not or acted upon what you saw/see?
I nevered said I care about who you are, though you guessed correctly on that tangent, only your bias whether real or perceived. We all, yourself included, have flatly rejected certain things in the past that the NAR/Yun/Leerah said because we know they contain or are compromised by bias.
Not trying to pick a written fight here, just trying to understand some of your prescient observations or otherwise ignore them.
DownButNot Out
Obviously there are numerous ways to short the RE market. Shorting those public companies that build the houses and commercial buildings, or by shorting those that invest in them would be a few. Even the banks that lent on projects such as Corus Bank, the bank that financed the Montage would have been an excellent bet if you knew the housing market was going to crash. As for specific regions like Reno, research REITs that invest in the basin and you could get area specific. There is no literal way to short the house next door, but then that wasn’t the point.
It should also be obvious this is not the time to be doing this. But those of you that absolutely knew what was coming, way back when, I’m surprised you didn’t put your money where your mouth is and pick up some jing.
As my dad used to say to the people that were full of opinions but did nothing ‘you got the talkin’ part down…’ I prefer ‘all hat and no cattle’ myself.
Sully
DBNO, apparently you have very little experience in shorting stocks or indexes. In the example “if you knew the housing market was going to crash.”
Ok – when? 2005, 2006, 2007? In Reno, nationwide? I just said the XHB didn’t make its biggest move until 2007, by then everyone could see real estate was no longer rising by the yards. Also, XHB should have moved down long before 2007 yet it didn’t why? Insiders were selling by the truckload for two years or more before. Anyone that shorted in say 2005 or 2004 that could see this fiasco in the making, would have also lost their shirts in the process. Having a bad feeling for something is one thing, following up that bad feeling with a bad bet – doesn’t seem to make sense either. This brings up the old adage:
The market can stay irrational longer than you can stay solvent.
That appears to be the case with XHB.
FWIW, back in Aug/Sept 2008 I mentioned the possible failure of a large bank, bokerage or insurance company. The post is still there. At that time I also bought from 10 – 30 puts (each) on all the major bokerages, banks, Capital One and AIG.
I just didn’t advertise it. Still, if I had to do it again, I probably wouldn’t have shorted the XHB or any other related industry, simply because of the risk at being short. Think infinity if you’re not right.
DonC
Sully — You are absolutely right on. In my mind the key points which hopefully everyone understands are:
“The market can stay irrational longer than you can stay solvent.”
and
“I probably wouldn’t have shorted the XHB or any other related industry, simply because of the risk at being short. Think infinity if you’re not right.”
billddrummer
If you are going to short anything (housing, banks, REITs), it would be a good idea to hedge your short with an offsetting play in something else that’s moving the opposite direction–such as gold vs. the euro, for example.
That way you can protect your downside risk if the short goes south by selling your long position and covering the short.
This morphed into an investment thread, which I think is interesting.
Carry on.
Phil
Some people, including myself, like living in their homes and do not necessarily think of them as an investment first. I bought in Reno in late 2006 after selling in San Jose (made a load of money).
I lost now what is 300K+ lost equity. Does that hurt? Hell yes! But after sitting out on the patio yesterday looking over the Spanish Springs valley makes the pain go away rather quickly.
What was crazy during looking for this HOME is a real estate agent trying to sell me million dollar homes and taking out jumbo loans. No thank you! I did see the bubble coming but I did not think it would get this bad. Yes a miscalculation, but I enjoy my home now, and being in my early 50’s I wouldn’t mind staying here the rest of my days.
Want to know how people will afford million dollar homes? Want to know how the government will pay for trillions of debt? Only solution I see is inflation of biblical proportions. Who gets screwed? The people retiring like me! Eeekkk!
We need JOBS beofre recovery can even start. Where are all the California companies moving here? I’m still waiting…. Maybe we can get Google to install the new gigabit ethernet here!
DownButNotOut
Sully, BobC, you are correct. Poorly thought out reasoning on my part.
Mixed two points I was trying to make and came out with dumb logic.
BanteringBear
“billddrummer said,
in March 17th, 2010 at 12:47 pm
To CL,
Thanks for calling out BB.
And to BB,
What’s the big deal? Just answer the g*dd*mn question, OK?”
Are you serious?! Just because you’re some chowderhead who lost his house and enjoys spreading his personal sob story all over the internet doesn’t mean others want, or need, to follow suit. Some of us appreciate our privacy and anonymity. No, I will NOT share personal details about myself. Put that in your attention loving pipe and smoke it.
smarten
CL –
But people don’t have to have any credentials to blog. Mr. BB doesn’t have to tell you anything. If you want answers to your questions, you need to search his more than 20K blogs. He’s not going to do your job for you.
So in the spirit of getting the Mr. BB ball rolling, consider the following:
“I sold my house and moved the hell away from west Bremerton. I’ve never seen so many dirtbags in my life. I’ll never live in that cesspool again.” [http://www.kitsapsun.com/users/BanteringBear/comments/?page=4#ixzz0iUYuNRP2 ]
“I had wanted to buy 10 acres in North Kitsap for a woodland garden and native plant nursery, but had to leave after that became financially impossible [yeah, he was outbid by someone else]. I believe I would have offered more to the community than a defunct golf course littered with overpriced, vacant homes.” [ http://www.kitsapsun.com/users/BanteringBear/comments/?page=4#ixzz0iUYMwxEL ]
He’s a renter. Possibly of a mobile home. Still working on this one.
Cheers Mr. BB!
BanteringBear
“Nice try. How about for the past several years not only have you been ‘offering’ advice but repeatedly you’ve lambasted others for stating rationale for and acting contrary to your opinion.”
Ok, smart guy, show me where I ever offered advice. I haven’t, and you can’t. This is a real estate blog, not CNBC’s Fast Money. Whether I am sitting on millions in real estate, or living in a cardboard box in SF, is irrelevant. I have offered my viewpoints on the state of the Reno-Sparks real estate market and you are, as well as everybody else, free to ignore them completely if you so wish.
The idea that nobody here is credible until they qualify themselves by sharing personal information is the most ludicrous thing I’ve ever heard. My two favorite contributors here, Reno Ignoramus and SkrapGuy, are as anonymous to me today as they were the first time they ever posted. They earned my respect by what they said, not by what sort of investments they are holding, or the flashy titles they may or may not have.
smarten
Mr. BB’s so full of himself, he can’t remember what he posted yesterday on which of his many blogs. According to him, “Ok, smart guy, show me where I ever offered advice.”
Although I’m not the “smart guy,” let me take a stab at it:
“I’ll go ahead and suggest that the appropriate way to short houses is to not buy them at all while they rot away on the mls” [Mr. BB on March 16 at 2:11 P.M. on this very topic (see above)].
Oh I can hear the response now. That wasn’t advice. It was merely a “suggestion.” Well to whom exactly were you suggesting Mr. BB, and how did your “suggestion” differ from your “advice?”
smarten
Some additional Mr. BB fodder:
“I had my house broken into two years ago, and they stole everything of value” [ http://www.kitsapsun.com/users/BanteringBear/comments/?page=1#ixzz0iUwoIhcf ]. This probably explains why he can’t afford to purchase real estate – even depressed Reno/Sparks real estate.
You see Mr. BB, if you just came clean with some of us, you wouldn’t put us in the position of having to dig up information on you.
MikeZ
Gotta agree with Lender, Bear, not only do you offer advice all the time you can get quite upset when people here disagree with you or your advice and resort to name-calling.
“Chowderhead?” “Sob story?” Come on, there’s no need for that.
So, you bought a house within the last few years?!
smarten
More advice from Mr. BB –
“I hate to break the news to you fourfirs, but you’re overpaying for that acreage right now. I have actually looked at the exact parcel you are buying. Prices in Clallum County, in some instances, have quadrupled in just a few short years. I don’t know who’s telling you that land prices are going to double again in the next several years, but it sure sounds like realtor speak. Prices on land will be coming down, not going up. I am not sure if you are familiar with the real estate bubble, but look into it. Washington is one of the most overpriced states in the country. The reason you haven’t found many good parcels, is because there’ve not been a lot on the market as of late. Most people have been holding it since prices were going up so fast. And the speculators and builders were grabbing anything decent once it hit the market. In the next 5 years, I anticipate a much larger selection, at drastically reduced prices. And especially in remote areas such as Port Angeles. I have been tracking land in and around western WA for better than 5 years. Sounds like somebody is selling you a bill of goods. It’s never a good idea to buy anything at the market peak, which is exactly where the area is at right now. In 5 years time, I will be able to buy a house on 5 view acres for the same price that the 5 acres are selling for right now. Mark my words” [ http://www.city-data.com/forum/washington/54303-banana-belt-region-2.html#ixzz0iUzhavuE ]. I guess those words weren’t advice either, were they.
BTW, this post was made by Mr. BB on April 1, 2007 so either it was an April Fool’s joke, or you’ve only got two years to make good on your promise!
smarten
More words of wisdom from Mr. Congeniality:
“I base what I say on facts…I actually take great pleasure in people disagreeing with me. It reassures me that I am on the right path. This is because the majority of people are unable to think for themselves, and subscribe to the herd mentality” [ http://www.city-data.com/forum/washington/54303-banana-belt-region-2.html#ixzz0iV1Zu0My ]. It sure sounds to me like our Mr. BB considers himself to be superior to the rest of us in the “herd” because unlike him, we’re unable to think for ourselves.
As George Carlin used to say, “the stunning arrogance.”
smarten
More advice our Mr. BB never, absolutely never gives:
“Your best bet is to buy used furniture if you want to save money. Check out craigslist” [ http://www.city-data.com/forum/washington/99382-best-place-get-reasonably-priced-attractive-3.html#post1167839#ixzz0iV3KtEMR ];
“I don’t know where you are getting your mortgage calculations [‘4k is a payment for about a $700,000 mortgage’], but you better find a new method” [ http://www.city-data.com/forum/washington/84621-n-w-housing-bubble-3.html#post764548#ixzz0iV3wMujI ];
“This is quite possibly the worst financial advice one could give to give a young couple in the Seattle area at this time. Of course, coming from someone who’s not even in the area, I’m not surprised…The smart thing to do is to take the extra $2k plus per month and invest it in a place which is guaranteed to grow the money” [ http://www.city-data.com/forum/washington/84621-n-w-housing-bubble-2.html#post757170#ixzz0iV5KaYQ2 ];
“This is absolutely the worst time to buy in the history of real estate. As with any asset, it is always prudent to buy low and sell high. While it may appear as if prices are still going up, this is largely due to the median price being skewed higher as the wealthy folks keep buying, and the entry level buyers retreat from the market. A better barometer is price per square foot (which is falling)” [ http://www.city-data.com/forum/washington/84621-n-w-housing-bubble.html#post756643#ixzz0iV612Vcb ];
“It is always best to get your facts straight before you sound off” [ http://www.city-data.com/forum/oregon/180-dogs-2.html#post697978#ixzz0iV6QZcXX ];
“Prices have peaked, so it would serve you well to wait as they are sure to come down…If money and profit are of no consideration, then maybe the timing is right for you” [ http://www.city-data.com/forum/washington/62359-land-near-bellingham.html#post673344#ixzz0iV6po8DE ];
“You shouldn’t have too much trouble finding a job in Olympia. But wages aren’t that great when factoring in the cost of living. The farther north you go, the more jobs there will be” [ http://www.city-data.com/forum/washington/75364-difficult-get-job-around-olympia.html#post648320#ixzz0iV7CKkNB ];
“If you purchase a home right now, you are gambling, and will most likely lose big if you need to sell in the near future, unless you have a large down payment” [ http://www.city-data.com/forum/washington/66984-yakima-tumwater-hoquiam.html#post621627#ixzz0iV7d3mqL ];
I could go on and on and on, but the idea Mr. BB never gives fellow bloggers “advice” is incredulous.
BanteringBear
And people wonder why I am loathe to share things about myself when there’s a stalker like the Incline Village Narcissist out there? Please…
smarten
More self=serving insight as to Mr. BB’s credentials to give advice on real estate:
“I have been pro real estate my entire life up until 3 years ago [2004], when everything got too far away from fundamentals” [ http://www.city-data.com/forum/washington/84621-n-w-housing-bubble-2.html#post763039#ixzz0iV97vJOE ]
BanteringBear
I DO own real estate, and I have shared that in the past, and on THIS blog. This is NOTHING new. If anything, it bolsters the fact that I am objective, as rising prices would be a boon to me, would they not? To me, though, the fact that I do is irrelevant.
I find it bizarre that Smarten spends hours upon hours reading my posts from years ago. Is your life in that new house really that bad? Viagra not working, and the wife out on the town? What gives, old man?
BanteringBear
I sold a bungalow overlooking the Puget Sound in 2006 for $400 per foot. I turned around and bought a fixer farmhouse on 3 acres for $98 a foot. What does it matter?
BanteringBear
Where did I ever give advice on this blog, MikeZ? Instead of running your mouth like all the other haters, why don’t you at least point to the thread?
smarten
WOW. Share a couple of facts about the guy and all of a sudden he’s singing like a bird. A little bit more insight as to who this “real estate pro” really is:
“I have been considering relocating to Portland, Maine from the west coast. I have known a few people who have grown up there and love it. It will be a big move should I do it. My main concerns are: I have a big dog and so I need to find a rental house which will accept us [he’s a renter]. I want to live in more of a rural setting (I’m a gardener) and wonder how much rents are, and how plentiful my options will be. Also, what are wages like in the area? I don’t have a college degree (though have 3 years of college) but have many skills. My long term goal is to open a small, specialty business. In the interim, I need to find anything. I wouldn’t mind working in the kitchen of a fun restaurant as I love to cook. Are people friendly in the area? Are there many dating opportunities for a single guy in his mid 30’s?” [ http://www.city-data.com/forum/portland-area/54326-big-dog-i-want-start-over.html#post444401#ixzz0iVF3DlMF ].
And FWIW Mr. BB, I can watch American Idol and search the internet [for only about an hour] simultaneously. Actually, enjoyed learning a bit more about you – from the horse’s mouth no less!
CommercialLender
Smarten,
you are impressive. Laughed my tail off!
However, I’m not trying to ‘out’ BB, I really don’t care who he his, but I’d just like to read his posts with some idea as to his personal background or bias. He’s one of the most prolific posters here and one of a few who readily rail against other anonymous posters here, therefore he opens himself up to the challenge of telling a tidbit of what his background is. I don’t care about RI’s bias, as BB cites him, because RI doesn’t go spouting off at everyone incessantly.
Having read a few of his -supposed- posts in the Seattle area, he is at least consistent and was prescient there in 2007, too. I respect him for that. But why not give it up: not personal data, just whether he bought a home during this mess, sold, whatever. Not address and SSN for God’s sake. His supposed desire for anonimity is laughable given my very simple and non-revealing request.
****
BB,
now to you: yes, often and over several friggin’ years you offer your advice and lambast those who don’t follow you. Who are you trying to kid? Don’t play word games with me, as in the past you’ve tried and failed. I say again “nice try” and now I’ll add to it “take a hike.” You have now joined Derrick in the list, now 2 names long, of posters I’ll simply skip to save time.
Finally, shame on you in your prescious anonymous world where you can call people “IV stalkers” like you just did tonight to Smarten but can’t even offer up if you happen to be one of 200+ million homeowners in the USA. Smarten, need I remind you, gave up his personal residence, his financial situation, his thoughts and methods so that some interested and mostly appreciative anonymous people could glean a bit of knowledge from him to use in their own situation. Kudos to him for sharing to help his fellow man. You should, but I rather suspect won’t be, fully and totally ashamed of yourself for calling Smarten a ‘stalker’. Baseless and utterly classless and you damn well know it.
So, saying goodnight and take a hike, I’d like to also stoop to your level and use my last word to you by calling you what I and perhaps the rest of this blog by now sadly recognize you to be: Pussy. But I won’t, because I have class.
MikeZ
[Bear] “I turned around and bought a fixer farmhouse on 3 acres for $98 a foot.”
WTF, Bear!
What happened to the unqualified: “Purchasing a house in a deflationary environment is not wise. Your … house continue to fall in price” above?
Not only do you offer advice and then deride others who disagree, you don’t follow you own advice!
CommercialLender
FWIW, the prior 4 posts were not received of me prior to hitting ‘submit comment’. I appreciate that BB did finally share this info.
skeptical
(note to self: try not to piss off too many people on the RRB. It might come back to bite you.)
FWIW, while I believe the various criticisms of BB are fairplay, I would sincerely miss his contributions and hope that this latest round doesn’t cause him to hibernate again.
BanteringBear
You can go f*** yourself Commercial Lender. I just offered up that I’m a homeowner. Wasn’t that the information you requested? You’ve been talking about ignoring me for years. Either stick to your guns, or shut up about it.
MikeZ- you’ve been on this blog about as long as me. You should remember these facts about me. This is not new. If you want to join these guys Bay Area connection circle jerk fest, I’m disappointed in you.
bob_c
funny how the anonymus one’s on the net have story lines that are hard and when backed into
a corner always critisize spelling and grammar
BanteringBear
You know, Skeptical, I think you’re on to something, and it is about time for me to go on hiatus. When the mob mentality takes hold, and this is not the first time, the blog really suffers. This whole thing has gotten so far off thread that it’s really pointless.
Unlike others, I never wanted my life to be fodder for the blog. I am most happy being anonymous, and have never once asked others for personal information, and only commented on theirs when they force fed it to us. The fact that I’m a self-employed gardener who owns a house in another state is irrelevant insofar as Reno real estate is concerned. Others may disagree, so be it.
I’m not big on apologies, but I’d like to offer one to Mike, Guy, and the good people of the blog who I respect, especially all of those anonymous readers out there. I’ve allowed my extreme distaste for certain individuals to contaminate my message. I’ll pass the torch to others who are, perhaps, a bit more PC. Good luck to all.
-BB
nunzio
bb we are new to reno. you have helped to save us over $200,000. please stay.
SmartMoney
Well this blog just went to hell. The only person that had any real common sense on this blog is now gone.
MikeZ
Apparently, “the only person that had any real common sense on this blog” (no quite correct, BTW) couldn’t take even the lightest of constructive criticism or disagreement.
I hope you return, Bear, but with a more adult and open attitude. You have much to contribute here.
Anti-BB, age 52
BB
You may have your youthful followers, who consider you to be the “king” of this blog, but if anything, you are a vulgar, disgusting, little boy, with a “trash” mouth, who is “posing” as a adult.
Really, I am sure everyone wonders just “How old are you?” You certainly do not act your age.
Polly
When this blog degenerates to the point that people are now calling themselves “Anti-BB” perhaps it is time to go BB. Nobody needs that kind of personal animosity.
This used to be a really fine blog. Personally, it saved me hundreds of thousands of dollars. I say thanks to RI, Lindie (who has been gone quite a while now), BB, Wazoo (who doesn’t come around much anymore either)for keeping me from making a big mistake.
The testosterone levels on this blog are just way out of hand now. Seems “being right” is the most important thing to the regulars here now. I note that even RI, certainly always of bearish sentiment, but who never personally attacked anybody, doesn’t post much anymore either. That is a loss.
The little boy mentality on this blog is leading to the end of what was a tremendous source of help to folks like me.
billddrummer
Is anyone interested in the commercial real estate business?
Feel free to comment.
skeptical
Polly,
This blog ebbs and flows. If you go back into the archives, as I have, you’ll see that nothing much has actually changed over the last few years. There was just as much emotion and personal invective back then, if not more.
One should expect such in a relatively unsensored blog such as this. That said, it’s incumbent upon the reader to filter through the nonsense and benefit from the tremendous amount of info shared here. I have also learned an immense amount by following this blog, and potential buyers in the greater Reno area who visit the blog are at a tremendous advantage.
A year or two back, the question was posited as to whether this blog has any affect on the actual Reno RE market. Judging from the number of folks who have recently commented that they’ve saved hundreds of thousands of dollars by reading the RRB, I believe it has.
BB will be missed, and I hope he comes back soon. He was like the greek chorus of a real time tragedy that is being played in front of our eyes. That said, I’d always cringe whenever it got real personal. Personal attacks only serve to divert the blog from the important matters at hand and to inhibit those being attacked from further contributing.
I guess I understand now why politicians get so personal and so negative. It certainly is alot easier than cogently and logically presenting your views and rigorously arguing your point.
In short, there’s nothing new under the sun. I think rumours of the blog’s demise are greatly exaggerated.