Effect of the Mega Bailout on home prices

[Running Bear]

[quote=Omega Point]Running Bear,

May I ask what you are doing to prepare? Because I feel the same way but I’m not sure what to do.[/quote]

Omega,

I sold my home in early 2006.
I moved 90% of my cash and assets overseas to a small private bank that was the safest on the planet I could find.
I am currently looking for a business to buy in a foreign country.

When I start to see signs of what I think is on the way I will move my family and start somewhere else. I don’t want to burden my children with the yoke of this debt burden.

My2cents

[no_such_reality]

It will have no effect on the decline of home prices.

None.

Nada.

Zippo.

Prices are still going back to were your income, now and in the future including real debt payments and higher taxes, can pay the mortgage and taxes.

[no_such_reality]

It will have no effect on the decline of home prices.

None.

Nada.

Zippo.

Prices are still going back to were your income, now and in the future including real debt payments and higher taxes, can pay the mortgage and taxes.

[no_such_reality]

It will have no effect on the decline of home prices.

None.

Nada.

Zippo.

Prices are still going back to were your income, now and in the future including real debt payments and higher taxes, can pay the mortgage and taxes.

[no_such_reality]

It will have no effect on the decline of home prices.

None.

Nada.

Zippo.

Prices are still going back to were your income, now and in the future including real debt payments and higher taxes, can pay the mortgage and taxes.

[no_such_reality]

It will have no effect on the decline of home prices.

None.

Nada.

Zippo.

Prices are still going back to were your income, now and in the future including real debt payments and higher taxes, can pay the mortgage and taxes.

[Omega Point]

[quote]I moved 90% of my cash and assets overseas to a small private bank that was the safest on the planet I could find.[/quote]

Without revealing too much, can you give me a clue where, like language spoken and hemisphere? I could probably guess from there. Also, is you cash in dollars or another currency?

[Omega Point]

[quote]I moved 90% of my cash and assets overseas to a small private bank that was the safest on the planet I could find.[/quote]

Without revealing too much, can you give me a clue where, like language spoken and hemisphere? I could probably guess from there. Also, is you cash in dollars or another currency?

[Omega Point]

[quote]I moved 90% of my cash and assets overseas to a small private bank that was the safest on the planet I could find.[/quote]

Without revealing too much, can you give me a clue where, like language spoken and hemisphere? I could probably guess from there. Also, is you cash in dollars or another currency?

[Omega Point]

[quote]I moved 90% of my cash and assets overseas to a small private bank that was the safest on the planet I could find.[/quote]

Without revealing too much, can you give me a clue where, like language spoken and hemisphere? I could probably guess from there. Also, is you cash in dollars or another currency?

[Omega Point]

[quote]I moved 90% of my cash and assets overseas to a small private bank that was the safest on the planet I could find.[/quote]

Without revealing too much, can you give me a clue where, like language spoken and hemisphere? I could probably guess from there. Also, is you cash in dollars or another currency?

[Eugene]

*IF* this mega bailout does get approved, US government will either control or own outright most mortgages issued during the bubble. They will be able to offer workout plans, approve short sales, reduce balances, etc. We will see fewer defaults and much fewer foreclosures. Basic tenet of housing bubble bust: prices are sticky, distressed inventory drives down prices. Take away distressed inventory, prices stop crashing. On one hand, it will minimize overcorrection and result in “soft landing”. On the other hand, it will take much longer for the most overpriced areas to normalize.

[Eugene]

*IF* this mega bailout does get approved, US government will either control or own outright most mortgages issued during the bubble. They will be able to offer workout plans, approve short sales, reduce balances, etc. We will see fewer defaults and much fewer foreclosures. Basic tenet of housing bubble bust: prices are sticky, distressed inventory drives down prices. Take away distressed inventory, prices stop crashing. On one hand, it will minimize overcorrection and result in “soft landing”. On the other hand, it will take much longer for the most overpriced areas to normalize.

[Eugene]

*IF* this mega bailout does get approved, US government will either control or own outright most mortgages issued during the bubble. They will be able to offer workout plans, approve short sales, reduce balances, etc. We will see fewer defaults and much fewer foreclosures. Basic tenet of housing bubble bust: prices are sticky, distressed inventory drives down prices. Take away distressed inventory, prices stop crashing. On one hand, it will minimize overcorrection and result in “soft landing”. On the other hand, it will take much longer for the most overpriced areas to normalize.

[Eugene]

*IF* this mega bailout does get approved, US government will either control or own outright most mortgages issued during the bubble. They will be able to offer workout plans, approve short sales, reduce balances, etc. We will see fewer defaults and much fewer foreclosures. Basic tenet of housing bubble bust: prices are sticky, distressed inventory drives down prices. Take away distressed inventory, prices stop crashing. On one hand, it will minimize overcorrection and result in “soft landing”. On the other hand, it will take much longer for the most overpriced areas to normalize.

[Author]

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