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Multiplepropertyowner.
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March 5, 2008 at 9:53 PM #11997March 5, 2008 at 10:58 PM #164746
GoUSC
ParticipantObviously we would be seeing more #’s of foreclosures and defaults. However the fact remains that home prices will continue to trend towards the long term median line putting home prices more in line with incomes. It might take a little longer but it will get there. The market is too big to force one direction or another over the long term.
With that said this program IS creating a whole lot of people in debtors prison holding mortgages to homes that are worth less than what they owe. I, for one, feel fortunate to not have a mortgage hanging over my head.
I will say that I continue to look at homes in the markets I want to buy in (Mission Hills, Hillcrest, North Park, Point Loma) and am seeing a definite decrease in housing values which is good to see.
March 5, 2008 at 10:58 PM #165164GoUSC
ParticipantObviously we would be seeing more #’s of foreclosures and defaults. However the fact remains that home prices will continue to trend towards the long term median line putting home prices more in line with incomes. It might take a little longer but it will get there. The market is too big to force one direction or another over the long term.
With that said this program IS creating a whole lot of people in debtors prison holding mortgages to homes that are worth less than what they owe. I, for one, feel fortunate to not have a mortgage hanging over my head.
I will say that I continue to look at homes in the markets I want to buy in (Mission Hills, Hillcrest, North Park, Point Loma) and am seeing a definite decrease in housing values which is good to see.
March 5, 2008 at 10:58 PM #165076GoUSC
ParticipantObviously we would be seeing more #’s of foreclosures and defaults. However the fact remains that home prices will continue to trend towards the long term median line putting home prices more in line with incomes. It might take a little longer but it will get there. The market is too big to force one direction or another over the long term.
With that said this program IS creating a whole lot of people in debtors prison holding mortgages to homes that are worth less than what they owe. I, for one, feel fortunate to not have a mortgage hanging over my head.
I will say that I continue to look at homes in the markets I want to buy in (Mission Hills, Hillcrest, North Park, Point Loma) and am seeing a definite decrease in housing values which is good to see.
March 5, 2008 at 10:58 PM #165069GoUSC
ParticipantObviously we would be seeing more #’s of foreclosures and defaults. However the fact remains that home prices will continue to trend towards the long term median line putting home prices more in line with incomes. It might take a little longer but it will get there. The market is too big to force one direction or another over the long term.
With that said this program IS creating a whole lot of people in debtors prison holding mortgages to homes that are worth less than what they owe. I, for one, feel fortunate to not have a mortgage hanging over my head.
I will say that I continue to look at homes in the markets I want to buy in (Mission Hills, Hillcrest, North Park, Point Loma) and am seeing a definite decrease in housing values which is good to see.
March 5, 2008 at 10:58 PM #165060GoUSC
ParticipantObviously we would be seeing more #’s of foreclosures and defaults. However the fact remains that home prices will continue to trend towards the long term median line putting home prices more in line with incomes. It might take a little longer but it will get there. The market is too big to force one direction or another over the long term.
With that said this program IS creating a whole lot of people in debtors prison holding mortgages to homes that are worth less than what they owe. I, for one, feel fortunate to not have a mortgage hanging over my head.
I will say that I continue to look at homes in the markets I want to buy in (Mission Hills, Hillcrest, North Park, Point Loma) and am seeing a definite decrease in housing values which is good to see.
March 5, 2008 at 11:03 PM #165081gdcox
ParticipantAll the evidence I have read so far seem to suggest that resets have contributed little if anything to the fall in house prices so far; partly because not many resets have arrived yet. Thus the question would have to be how much impact will reset-forgiveness have in the future.
March 5, 2008 at 11:03 PM #165169gdcox
ParticipantAll the evidence I have read so far seem to suggest that resets have contributed little if anything to the fall in house prices so far; partly because not many resets have arrived yet. Thus the question would have to be how much impact will reset-forgiveness have in the future.
March 5, 2008 at 11:03 PM #165074gdcox
ParticipantAll the evidence I have read so far seem to suggest that resets have contributed little if anything to the fall in house prices so far; partly because not many resets have arrived yet. Thus the question would have to be how much impact will reset-forgiveness have in the future.
March 5, 2008 at 11:03 PM #164751gdcox
ParticipantAll the evidence I have read so far seem to suggest that resets have contributed little if anything to the fall in house prices so far; partly because not many resets have arrived yet. Thus the question would have to be how much impact will reset-forgiveness have in the future.
March 5, 2008 at 11:03 PM #165065gdcox
ParticipantAll the evidence I have read so far seem to suggest that resets have contributed little if anything to the fall in house prices so far; partly because not many resets have arrived yet. Thus the question would have to be how much impact will reset-forgiveness have in the future.
March 5, 2008 at 11:15 PM #165070Mean Reversion
ParticipantWe’ll never know for sure. What I do know for sure is that our government is pretty clueless and idiotic.
I ask them one question. Where is the bailout for the responsible and the prudent who chose to rent because housing affordability was at an all time low due to funny money? Can we apply for a few months rent credit?
March 5, 2008 at 11:15 PM #165173Mean Reversion
ParticipantWe’ll never know for sure. What I do know for sure is that our government is pretty clueless and idiotic.
I ask them one question. Where is the bailout for the responsible and the prudent who chose to rent because housing affordability was at an all time low due to funny money? Can we apply for a few months rent credit?
March 5, 2008 at 11:15 PM #165079Mean Reversion
ParticipantWe’ll never know for sure. What I do know for sure is that our government is pretty clueless and idiotic.
I ask them one question. Where is the bailout for the responsible and the prudent who chose to rent because housing affordability was at an all time low due to funny money? Can we apply for a few months rent credit?
March 5, 2008 at 11:15 PM #164756Mean Reversion
ParticipantWe’ll never know for sure. What I do know for sure is that our government is pretty clueless and idiotic.
I ask them one question. Where is the bailout for the responsible and the prudent who chose to rent because housing affordability was at an all time low due to funny money? Can we apply for a few months rent credit?
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