Forbes: Housing Woes Hit High End Too

[sdcellar]

Ahhh Alex, there you go with your “price point” theory again.

Hey everybody, go out and buy new construction. You’ll be safe because the price is set. See, you’ve got no wiggle room and future buyers will certainly understand and be willing to pay a premium because you were so smart to avoid nasty old used houses.

[temeculaguy]

I can’t get over the statement that was made early in this thread “a lot of people were cheated.” The pot stirring cliches are tired “careful what you wish for”,”you are happy about bad news”, “real families are being hurt”, “I got out and CA sucks anyway”,”you can’t afford it anyways”, yada yada yada. C’mon MGU, you really want to have this debate, you are going to need to bring your “A” game because these arguments are tired and pointless, put that finger away because we don’t need any finger wagging, card carrying “people for a perfect world” members here.

The facts are that every player in the game that is being hurt is culpable and nobody is going to die. The fiscally conservative were punished for years and now they will be rewarded, why is that a capital offense. You timed the market and your profit will end up being someone else’s loss but you have rationalized it because as you say, they will be fine. Is there guilt in that story, it has a “i got a girl pregnant and left town but she wanted a kid to raise by herself anyway” feel to it. Just admit it, you timed the market right and your desire to see the seasons or your gut turned out to be a genius move but don’t think you can blame others for their selfishness and be cleansed. These posters like JC and Stan are just questioning the fundamentals and feel vindicated by their accurate predictions based on fundamentals and you want to blow out their birthday candles for them., All I can say is “and the horse you rode in on.” I can’t believe I got sucked in on this one, shame on me for typing angry.

[temeculaguy]

I can’t get over the statement that was made early in this thread “a lot of people were cheated.” The pot stirring cliches are tired “careful what you wish for”,”you are happy about bad news”, “real families are being hurt”, “I got out and CA sucks anyway”,”you can’t afford it anyways”, yada yada yada. C’mon MGU, you really want to have this debate, you are going to need to bring your “A” game because these arguments are tired and pointless, put that finger away because we don’t need any finger wagging, card carrying “people for a perfect world” members here.

The facts are that every player in the game that is being hurt is culpable and nobody is going to die. The fiscally conservative were punished for years and now they will be rewarded, why is that a capital offense. You timed the market and your profit will end up being someone else’s loss but you have rationalized it because as you say, they will be fine. Is there guilt in that story, it has a “i got a girl pregnant and left town but she wanted a kid to raise by herself anyway” feel to it. Just admit it, you timed the market right and your desire to see the seasons or your gut turned out to be a genius move but don’t think you can blame others for their selfishness and be cleansed. These posters like JC and Stan are just questioning the fundamentals and feel vindicated by their accurate predictions based on fundamentals and you want to blow out their birthday candles for them., All I can say is “and the horse you rode in on.” I can’t believe I got sucked in on this one, shame on me for typing angry.

[temeculaguy]

I can’t get over the statement that was made early in this thread “a lot of people were cheated.” The pot stirring cliches are tired “careful what you wish for”,”you are happy about bad news”, “real families are being hurt”, “I got out and CA sucks anyway”,”you can’t afford it anyways”, yada yada yada. C’mon MGU, you really want to have this debate, you are going to need to bring your “A” game because these arguments are tired and pointless, put that finger away because we don’t need any finger wagging, card carrying “people for a perfect world” members here.

The facts are that every player in the game that is being hurt is culpable and nobody is going to die. The fiscally conservative were punished for years and now they will be rewarded, why is that a capital offense. You timed the market and your profit will end up being someone else’s loss but you have rationalized it because as you say, they will be fine. Is there guilt in that story, it has a “i got a girl pregnant and left town but she wanted a kid to raise by herself anyway” feel to it. Just admit it, you timed the market right and your desire to see the seasons or your gut turned out to be a genius move but don’t think you can blame others for their selfishness and be cleansed. These posters like JC and Stan are just questioning the fundamentals and feel vindicated by their accurate predictions based on fundamentals and you want to blow out their birthday candles for them., All I can say is “and the horse you rode in on.” I can’t believe I got sucked in on this one, shame on me for typing angry.

[The OC Scam]

Applause to you Temeculaguy! It maybe anger but it’s true!

“The fiscally conservative were punished for years and now they will be rewarded” AMEN!!

[The OC Scam]

Applause to you Temeculaguy! It maybe anger but it’s true!

“The fiscally conservative were punished for years and now they will be rewarded” AMEN!!

[The OC Scam]

Applause to you Temeculaguy! It maybe anger but it’s true!

“The fiscally conservative were punished for years and now they will be rewarded” AMEN!!

[patientrenter]

What you said, temeculaguy.

Patient renter in OC

[patientrenter]

What you said, temeculaguy.

Patient renter in OC

[patientrenter]

What you said, temeculaguy.

Patient renter in OC

[falcon_eyes]

mgubnyc1 and Alex_angel, you should prepare the complete bouquet gift of 1-800-Flowers to Bill Gross since he listens to your pleas to save the American homeowners with the bailout bill who soon will be in the upside down situation.

http://ww12.1800flowers.com/

I can order it for you if you and your families are too busy right now working at the fast food joints after the higher rate of your ARM RESET bill arrived at your lovely home. You guys need to take some break since it’s not healthy working 16 hours a day, 7 days a week at Mc Donalds’ store.

Do you want to order the Orchids, Bonsai, Lilies, and Roses mixed in one case or it’ll be a separate ones?

[falcon_eyes]

mgubnyc1 and Alex_angel, you should prepare the complete bouquet gift of 1-800-Flowers to Bill Gross since he listens to your pleas to save the American homeowners with the bailout bill who soon will be in the upside down situation.

http://ww12.1800flowers.com/

I can order it for you if you and your families are too busy right now working at the fast food joints after the higher rate of your ARM RESET bill arrived at your lovely home. You guys need to take some break since it’s not healthy working 16 hours a day, 7 days a week at Mc Donalds’ store.

Do you want to order the Orchids, Bonsai, Lilies, and Roses mixed in one case or it’ll be a separate ones?

[falcon_eyes]

mgubnyc1 and Alex_angel, you should prepare the complete bouquet gift of 1-800-Flowers to Bill Gross since he listens to your pleas to save the American homeowners with the bailout bill who soon will be in the upside down situation.

http://ww12.1800flowers.com/

I can order it for you if you and your families are too busy right now working at the fast food joints after the higher rate of your ARM RESET bill arrived at your lovely home. You guys need to take some break since it’s not healthy working 16 hours a day, 7 days a week at Mc Donalds’ store.

Do you want to order the Orchids, Bonsai, Lilies, and Roses mixed in one case or it’ll be a separate ones?

[4runner]

I don’t know what the answer is but having our prime real-estate in the USA lose value is not the answer or good for anyone.

Actually, the best thing for the U.S. would be for a spectacular, quick drop in the price of real estate.

Price real estate as an asset. Homes are currently renting out for a pathetically small fraction of their market price. The rate of return cannot be sustained for the long term and represents overinvestment in a non-performing asset. For example, we sold a condo earlier this year. We could have been $100/month above water at current rental rates ($400 if you count the payments toward principal) on about 200k$ in “equity” in the condo. Guess what– we make more money giving that money to the Feds. Plus, Uncle Sam doesn’t call us when the toilet won’t flush.

This situation is repeated throughout San Diego and California. Hardworking, responsible people are spending wage income paying toward mortgages on houses that have a rate of return that is lower than the rate of return on government bonds. This is not a good situation, especially when most Americans don’t save.

If the price of housing doesn’t drop, it is possible that these people will continue spending a disproportionately large amount of their income on an asset than doesn’t generate a reasonable rate of return. This would be catastrophic for those people and for the U.S.

[4runner]

I don’t know what the answer is but having our prime real-estate in the USA lose value is not the answer or good for anyone.

Actually, the best thing for the U.S. would be for a spectacular, quick drop in the price of real estate.

Price real estate as an asset. Homes are currently renting out for a pathetically small fraction of their market price. The rate of return cannot be sustained for the long term and represents overinvestment in a non-performing asset. For example, we sold a condo earlier this year. We could have been $100/month above water at current rental rates ($400 if you count the payments toward principal) on about 200k$ in “equity” in the condo. Guess what– we make more money giving that money to the Feds. Plus, Uncle Sam doesn’t call us when the toilet won’t flush.

This situation is repeated throughout San Diego and California. Hardworking, responsible people are spending wage income paying toward mortgages on houses that have a rate of return that is lower than the rate of return on government bonds. This is not a good situation, especially when most Americans don’t save.

If the price of housing doesn’t drop, it is possible that these people will continue spending a disproportionately large amount of their income on an asset than doesn’t generate a reasonable rate of return. This would be catastrophic for those people and for the U.S.

[Author]

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