Disappearing now: $6 trillion in housing wealth

[kev374]

this is a joke, most people have already spent their home equity wealth!

those that haven’t well, it was a bubble, it wasn’t their wealth unless they materialized it by selling. It was all on paper!

[cr]

$85,000 out of an average of somewhere near $300,000 they did absolutely nothing to earn except happen to own a house during a housing boom.

Things look like they’re falling fast, but I really think we haven’t seen the worst yet. But being done by the end of 2008 is a bit optimistic. The housing factors are bad enough to drag things out for 2-3 years. Add to that a recession and stagflation, and 5 years starts to look more likely.

Don’t forget though that we bailed out the last recession of the 9/11.com era with this housing bubble. Now that both are empty it’s going to be a lot rougher than most people think IMO.

The headline $6 Trillion in wealth is typical sensationlism of MSM. It was never really wealth in the first place.

[cr]

$85,000 out of an average of somewhere near $300,000 they did absolutely nothing to earn except happen to own a house during a housing boom.

Things look like they’re falling fast, but I really think we haven’t seen the worst yet. But being done by the end of 2008 is a bit optimistic. The housing factors are bad enough to drag things out for 2-3 years. Add to that a recession and stagflation, and 5 years starts to look more likely.

Don’t forget though that we bailed out the last recession of the 9/11.com era with this housing bubble. Now that both are empty it’s going to be a lot rougher than most people think IMO.

The headline $6 Trillion in wealth is typical sensationlism of MSM. It was never really wealth in the first place.

[cr]

$85,000 out of an average of somewhere near $300,000 they did absolutely nothing to earn except happen to own a house during a housing boom.

Things look like they’re falling fast, but I really think we haven’t seen the worst yet. But being done by the end of 2008 is a bit optimistic. The housing factors are bad enough to drag things out for 2-3 years. Add to that a recession and stagflation, and 5 years starts to look more likely.

Don’t forget though that we bailed out the last recession of the 9/11.com era with this housing bubble. Now that both are empty it’s going to be a lot rougher than most people think IMO.

The headline $6 Trillion in wealth is typical sensationlism of MSM. It was never really wealth in the first place.

[cr]

$85,000 out of an average of somewhere near $300,000 they did absolutely nothing to earn except happen to own a house during a housing boom.

Things look like they’re falling fast, but I really think we haven’t seen the worst yet. But being done by the end of 2008 is a bit optimistic. The housing factors are bad enough to drag things out for 2-3 years. Add to that a recession and stagflation, and 5 years starts to look more likely.

Don’t forget though that we bailed out the last recession of the 9/11.com era with this housing bubble. Now that both are empty it’s going to be a lot rougher than most people think IMO.

The headline $6 Trillion in wealth is typical sensationlism of MSM. It was never really wealth in the first place.

[cr]

$85,000 out of an average of somewhere near $300,000 they did absolutely nothing to earn except happen to own a house during a housing boom.

Things look like they’re falling fast, but I really think we haven’t seen the worst yet. But being done by the end of 2008 is a bit optimistic. The housing factors are bad enough to drag things out for 2-3 years. Add to that a recession and stagflation, and 5 years starts to look more likely.

Don’t forget though that we bailed out the last recession of the 9/11.com era with this housing bubble. Now that both are empty it’s going to be a lot rougher than most people think IMO.

The headline $6 Trillion in wealth is typical sensationlism of MSM. It was never really wealth in the first place.

[Ex-SD]

cooprider: I agree with you. I can see how many non-bubble markets may be at the bottom by the beginning of 2009 but SoCal is likely to see falling prices into 2012 due to overwhelming inventory, large future ARM resets, buyers not being able to qualify for loans, etc etc etc.

All of this is going to put enormous pressure on ALL areas. People who are well entrenched with secure jobs (if there is any such thing, anymore) and real equity in their homes will be o.k. All others (many of whom believe that they are o.k.) need to wise up and take a hard look at their future if they are already or are going to be upside down in their homes and will have to sell due to loss of jobs, divorce, unaffordability due to upcoming ARM reset, etc.

[Ex-SD]

cooprider: I agree with you. I can see how many non-bubble markets may be at the bottom by the beginning of 2009 but SoCal is likely to see falling prices into 2012 due to overwhelming inventory, large future ARM resets, buyers not being able to qualify for loans, etc etc etc.

All of this is going to put enormous pressure on ALL areas. People who are well entrenched with secure jobs (if there is any such thing, anymore) and real equity in their homes will be o.k. All others (many of whom believe that they are o.k.) need to wise up and take a hard look at their future if they are already or are going to be upside down in their homes and will have to sell due to loss of jobs, divorce, unaffordability due to upcoming ARM reset, etc.

[Ex-SD]

cooprider: I agree with you. I can see how many non-bubble markets may be at the bottom by the beginning of 2009 but SoCal is likely to see falling prices into 2012 due to overwhelming inventory, large future ARM resets, buyers not being able to qualify for loans, etc etc etc.

All of this is going to put enormous pressure on ALL areas. People who are well entrenched with secure jobs (if there is any such thing, anymore) and real equity in their homes will be o.k. All others (many of whom believe that they are o.k.) need to wise up and take a hard look at their future if they are already or are going to be upside down in their homes and will have to sell due to loss of jobs, divorce, unaffordability due to upcoming ARM reset, etc.

[Ex-SD]

cooprider: I agree with you. I can see how many non-bubble markets may be at the bottom by the beginning of 2009 but SoCal is likely to see falling prices into 2012 due to overwhelming inventory, large future ARM resets, buyers not being able to qualify for loans, etc etc etc.

All of this is going to put enormous pressure on ALL areas. People who are well entrenched with secure jobs (if there is any such thing, anymore) and real equity in their homes will be o.k. All others (many of whom believe that they are o.k.) need to wise up and take a hard look at their future if they are already or are going to be upside down in their homes and will have to sell due to loss of jobs, divorce, unaffordability due to upcoming ARM reset, etc.

[Ex-SD]

cooprider: I agree with you. I can see how many non-bubble markets may be at the bottom by the beginning of 2009 but SoCal is likely to see falling prices into 2012 due to overwhelming inventory, large future ARM resets, buyers not being able to qualify for loans, etc etc etc.

All of this is going to put enormous pressure on ALL areas. People who are well entrenched with secure jobs (if there is any such thing, anymore) and real equity in their homes will be o.k. All others (many of whom believe that they are o.k.) need to wise up and take a hard look at their future if they are already or are going to be upside down in their homes and will have to sell due to loss of jobs, divorce, unaffordability due to upcoming ARM reset, etc.

[PadreBrian]

lol “wealth”

[PadreBrian]

lol “wealth”

[PadreBrian]

lol “wealth”

[PadreBrian]

lol “wealth”

[Author]

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