Foreclosures coming soon to a neighborhood near you…?

[Arraya]

[quote=patientrenter][quote=Arraya] ….cheering for putting future generations in debt to save housing is fucking retarded. [/quote]

I am not cheering for putting future generations in debt, to save housing or otherwise. I want the govt to get out of the housing and lending markets altogether, from alpha to omega.

But I still enjoy TG’s comments, and wish him enjoyment of his home purchase. I will buy a home one day, and when I do I’ll want the people I converse with to be able to empathize with my new situation. I think the key in good conversations about subjects on which people disagree is to avoid personal demonization of the other people. Not everyone who disagrees with you has a low IQ or is evil.
[/quote]

PR, come on, dude. You’re twisting my posts into something I did not say, again. First of all, I would not expect to find empathy for a home purchase on a thread titled “Foreclosures coming soon to a neighborhood near you”. Empathizing with someone’s decision to buy is a prickly situation on a thread like this one. It skews the groups analysis, which would not be healthy for the scope of this thread, would it? I’m quite sure people make their own threads regarding their purchase for empathy, in which case posts like these would be highly inappropriate. Really, I don’t know what to say about this peculiarity of a situation. Though, I have to admit, I do find the psychology behind it fascinating.

I’m not sure why you described my post as a “personal demonization”. I clearly stated that it was not directed at TG, but rather a media mindset. Which, I am sorry to say he was displaying, IMO. I did, however, demonize the MSM which is quite different and they deserve it. After all, the reason we are all here is because we have in some way demonized them and they do have a tendency to influence. Maybe the media is not influencing his analysis and it is from just looking at data, I don’t know. However, I think his analysis is flawed and it just so happens to be at the time when the media is blowing smoke up everybody’s ass regarding the same thing. Which, I feel compelled to point out because I think they are damaging in more ways than just financial. I don’t think people that listen to the media are stupid, maybe naive, but not stupid. Unlike most here, I have empathy for all the people getting foreclosed on. I feel like they were tricked by the system, even the ones that bought more than they can afford. I think, the media and financial system together conspired to make them make a bad decision, just like now.

Also, you mention that you wish him enjoyment in his home. That’s great, I wish him and everybody enjoyment in their home, which, hopefully should in no way be connected to the value of their home or the timing of their purchase. If it is, then they have a problem.

[temeculaguy]

No sweat, like you said I’m a big boy, I can take it and I know none of this is directed at me, just my position sometimes, an elbow to the chest is not a flagrant 2, it’s just playoff basketball. My primary residence is not my only planned purchase on this down part of the cycle, which is part of the reason I stay tuned in. I hope to come away with at least one rental before this thing turns. This is why I chose to underextend myself on the primary and why there is no porsche in the garage. My references to stocks and missed opportunity was part of that master plan because financing for rentals is tight right now, I had hoped to parlay into a larger down payment or a cash position because some condos involved in class action suits against the builder cannot get any form of financing right now and I see bargains on those because the only play is a cash play, however I failed in that little experiment, but I digress. I was happy in my rental, I’m happy in the new pad and I fully plan on being happy chasing old ladies in a rest home, it’s never about happy, it’s just math.

I wasn’t emulating the msm, they probably read boards like this and steal our ideas anyway. My conclusions are based on affordabity fundamentals, and prices relative to rent multipliers and the priced compared to the last few cycles (the reason I set my goal at 2001 pricing in nominal terms not inflation adjusted). These fundamentals kept me out of r/e in 06, 07 and until the last few days of 08, so I’m dancing with the one that brung me. If the msm decides this is their story today, they are late to the party, I learned it here and I learned it long ago, I didn’t make this stuff up, Rich did, as well as many ghosts of piggington past. I can point to countless posts in the past where I referenced these metrics and opined for a return to them, when they arrived, I embraced them. Now the rental(s) is a different story, I have to factor in other people’s ability to pay rent, not my ability to afford my primary, so the strike price and the rental stability is a huge issue and they do involve the macro market and employment, for those reasons I have elected to wait and see if the shadow inventory comes, plus the type of places I am evaluating as rentals have more unstable and overleveraged current owners, the speculators of 2006 are getting killed on their rentals because they needed appreciation, the counted on it and they will let their rental go before their primary and the loan mods and government programs are less likely to help them, in fact the gov’t seems to hate them.

Allan-sorry about macanudo knock, you are right, they make a nice mid level cigar that I’ve found appeals to most guests and I like them as well. I like certain $7 cabs from costco. As a host I’d never give guests one cigar and myself another, so those and rocky patel 1990’s and 1992’s are the “house” brand. If I find myself enjoying a smoke with a serious smoker, then we can break out the $20 sticks and get all geeked out about it, however blended scoth is not permitted on the premises, I believe the moose out front should have told you.

[temeculaguy]

No sweat, like you said I’m a big boy, I can take it and I know none of this is directed at me, just my position sometimes, an elbow to the chest is not a flagrant 2, it’s just playoff basketball. My primary residence is not my only planned purchase on this down part of the cycle, which is part of the reason I stay tuned in. I hope to come away with at least one rental before this thing turns. This is why I chose to underextend myself on the primary and why there is no porsche in the garage. My references to stocks and missed opportunity was part of that master plan because financing for rentals is tight right now, I had hoped to parlay into a larger down payment or a cash position because some condos involved in class action suits against the builder cannot get any form of financing right now and I see bargains on those because the only play is a cash play, however I failed in that little experiment, but I digress. I was happy in my rental, I’m happy in the new pad and I fully plan on being happy chasing old ladies in a rest home, it’s never about happy, it’s just math.

I wasn’t emulating the msm, they probably read boards like this and steal our ideas anyway. My conclusions are based on affordabity fundamentals, and prices relative to rent multipliers and the priced compared to the last few cycles (the reason I set my goal at 2001 pricing in nominal terms not inflation adjusted). These fundamentals kept me out of r/e in 06, 07 and until the last few days of 08, so I’m dancing with the one that brung me. If the msm decides this is their story today, they are late to the party, I learned it here and I learned it long ago, I didn’t make this stuff up, Rich did, as well as many ghosts of piggington past. I can point to countless posts in the past where I referenced these metrics and opined for a return to them, when they arrived, I embraced them. Now the rental(s) is a different story, I have to factor in other people’s ability to pay rent, not my ability to afford my primary, so the strike price and the rental stability is a huge issue and they do involve the macro market and employment, for those reasons I have elected to wait and see if the shadow inventory comes, plus the type of places I am evaluating as rentals have more unstable and overleveraged current owners, the speculators of 2006 are getting killed on their rentals because they needed appreciation, the counted on it and they will let their rental go before their primary and the loan mods and government programs are less likely to help them, in fact the gov’t seems to hate them.

Allan-sorry about macanudo knock, you are right, they make a nice mid level cigar that I’ve found appeals to most guests and I like them as well. I like certain $7 cabs from costco. As a host I’d never give guests one cigar and myself another, so those and rocky patel 1990’s and 1992’s are the “house” brand. If I find myself enjoying a smoke with a serious smoker, then we can break out the $20 sticks and get all geeked out about it, however blended scoth is not permitted on the premises, I believe the moose out front should have told you.

[temeculaguy]

No sweat, like you said I’m a big boy, I can take it and I know none of this is directed at me, just my position sometimes, an elbow to the chest is not a flagrant 2, it’s just playoff basketball. My primary residence is not my only planned purchase on this down part of the cycle, which is part of the reason I stay tuned in. I hope to come away with at least one rental before this thing turns. This is why I chose to underextend myself on the primary and why there is no porsche in the garage. My references to stocks and missed opportunity was part of that master plan because financing for rentals is tight right now, I had hoped to parlay into a larger down payment or a cash position because some condos involved in class action suits against the builder cannot get any form of financing right now and I see bargains on those because the only play is a cash play, however I failed in that little experiment, but I digress. I was happy in my rental, I’m happy in the new pad and I fully plan on being happy chasing old ladies in a rest home, it’s never about happy, it’s just math.

I wasn’t emulating the msm, they probably read boards like this and steal our ideas anyway. My conclusions are based on affordabity fundamentals, and prices relative to rent multipliers and the priced compared to the last few cycles (the reason I set my goal at 2001 pricing in nominal terms not inflation adjusted). These fundamentals kept me out of r/e in 06, 07 and until the last few days of 08, so I’m dancing with the one that brung me. If the msm decides this is their story today, they are late to the party, I learned it here and I learned it long ago, I didn’t make this stuff up, Rich did, as well as many ghosts of piggington past. I can point to countless posts in the past where I referenced these metrics and opined for a return to them, when they arrived, I embraced them. Now the rental(s) is a different story, I have to factor in other people’s ability to pay rent, not my ability to afford my primary, so the strike price and the rental stability is a huge issue and they do involve the macro market and employment, for those reasons I have elected to wait and see if the shadow inventory comes, plus the type of places I am evaluating as rentals have more unstable and overleveraged current owners, the speculators of 2006 are getting killed on their rentals because they needed appreciation, the counted on it and they will let their rental go before their primary and the loan mods and government programs are less likely to help them, in fact the gov’t seems to hate them.

Allan-sorry about macanudo knock, you are right, they make a nice mid level cigar that I’ve found appeals to most guests and I like them as well. I like certain $7 cabs from costco. As a host I’d never give guests one cigar and myself another, so those and rocky patel 1990’s and 1992’s are the “house” brand. If I find myself enjoying a smoke with a serious smoker, then we can break out the $20 sticks and get all geeked out about it, however blended scoth is not permitted on the premises, I believe the moose out front should have told you.

[temeculaguy]

No sweat, like you said I’m a big boy, I can take it and I know none of this is directed at me, just my position sometimes, an elbow to the chest is not a flagrant 2, it’s just playoff basketball. My primary residence is not my only planned purchase on this down part of the cycle, which is part of the reason I stay tuned in. I hope to come away with at least one rental before this thing turns. This is why I chose to underextend myself on the primary and why there is no porsche in the garage. My references to stocks and missed opportunity was part of that master plan because financing for rentals is tight right now, I had hoped to parlay into a larger down payment or a cash position because some condos involved in class action suits against the builder cannot get any form of financing right now and I see bargains on those because the only play is a cash play, however I failed in that little experiment, but I digress. I was happy in my rental, I’m happy in the new pad and I fully plan on being happy chasing old ladies in a rest home, it’s never about happy, it’s just math.

I wasn’t emulating the msm, they probably read boards like this and steal our ideas anyway. My conclusions are based on affordabity fundamentals, and prices relative to rent multipliers and the priced compared to the last few cycles (the reason I set my goal at 2001 pricing in nominal terms not inflation adjusted). These fundamentals kept me out of r/e in 06, 07 and until the last few days of 08, so I’m dancing with the one that brung me. If the msm decides this is their story today, they are late to the party, I learned it here and I learned it long ago, I didn’t make this stuff up, Rich did, as well as many ghosts of piggington past. I can point to countless posts in the past where I referenced these metrics and opined for a return to them, when they arrived, I embraced them. Now the rental(s) is a different story, I have to factor in other people’s ability to pay rent, not my ability to afford my primary, so the strike price and the rental stability is a huge issue and they do involve the macro market and employment, for those reasons I have elected to wait and see if the shadow inventory comes, plus the type of places I am evaluating as rentals have more unstable and overleveraged current owners, the speculators of 2006 are getting killed on their rentals because they needed appreciation, the counted on it and they will let their rental go before their primary and the loan mods and government programs are less likely to help them, in fact the gov’t seems to hate them.

Allan-sorry about macanudo knock, you are right, they make a nice mid level cigar that I’ve found appeals to most guests and I like them as well. I like certain $7 cabs from costco. As a host I’d never give guests one cigar and myself another, so those and rocky patel 1990’s and 1992’s are the “house” brand. If I find myself enjoying a smoke with a serious smoker, then we can break out the $20 sticks and get all geeked out about it, however blended scoth is not permitted on the premises, I believe the moose out front should have told you.

[temeculaguy]

No sweat, like you said I’m a big boy, I can take it and I know none of this is directed at me, just my position sometimes, an elbow to the chest is not a flagrant 2, it’s just playoff basketball. My primary residence is not my only planned purchase on this down part of the cycle, which is part of the reason I stay tuned in. I hope to come away with at least one rental before this thing turns. This is why I chose to underextend myself on the primary and why there is no porsche in the garage. My references to stocks and missed opportunity was part of that master plan because financing for rentals is tight right now, I had hoped to parlay into a larger down payment or a cash position because some condos involved in class action suits against the builder cannot get any form of financing right now and I see bargains on those because the only play is a cash play, however I failed in that little experiment, but I digress. I was happy in my rental, I’m happy in the new pad and I fully plan on being happy chasing old ladies in a rest home, it’s never about happy, it’s just math.

I wasn’t emulating the msm, they probably read boards like this and steal our ideas anyway. My conclusions are based on affordabity fundamentals, and prices relative to rent multipliers and the priced compared to the last few cycles (the reason I set my goal at 2001 pricing in nominal terms not inflation adjusted). These fundamentals kept me out of r/e in 06, 07 and until the last few days of 08, so I’m dancing with the one that brung me. If the msm decides this is their story today, they are late to the party, I learned it here and I learned it long ago, I didn’t make this stuff up, Rich did, as well as many ghosts of piggington past. I can point to countless posts in the past where I referenced these metrics and opined for a return to them, when they arrived, I embraced them. Now the rental(s) is a different story, I have to factor in other people’s ability to pay rent, not my ability to afford my primary, so the strike price and the rental stability is a huge issue and they do involve the macro market and employment, for those reasons I have elected to wait and see if the shadow inventory comes, plus the type of places I am evaluating as rentals have more unstable and overleveraged current owners, the speculators of 2006 are getting killed on their rentals because they needed appreciation, the counted on it and they will let their rental go before their primary and the loan mods and government programs are less likely to help them, in fact the gov’t seems to hate them.

Allan-sorry about macanudo knock, you are right, they make a nice mid level cigar that I’ve found appeals to most guests and I like them as well. I like certain $7 cabs from costco. As a host I’d never give guests one cigar and myself another, so those and rocky patel 1990’s and 1992’s are the “house” brand. If I find myself enjoying a smoke with a serious smoker, then we can break out the $20 sticks and get all geeked out about it, however blended scoth is not permitted on the premises, I believe the moose out front should have told you.

[danthedart]

Have you guys read Dr. Housing Bubble’s latest?

10 Reasons Why Buying a Home in Southern California today is a Mistake. California Housing and Financial Market Analysis produces no Green Shoots.

A few interesting things from the article:

– The stock market is a bad indicator because its completely disconnected with what is happening in the real world. Remember the stock market has predicted 6 out of the last 0 economic recoveries and 12 out of the last 9 recessions.

– The peak of the alt-a option arm recasts will be in 2011.

– Unemployment was the driving factor in the last 2 housing collapses in California. Unemployment affects housing a lot more than it does the overall economy.

[danthedart]

Have you guys read Dr. Housing Bubble’s latest?

10 Reasons Why Buying a Home in Southern California today is a Mistake. California Housing and Financial Market Analysis produces no Green Shoots.

A few interesting things from the article:

– The stock market is a bad indicator because its completely disconnected with what is happening in the real world. Remember the stock market has predicted 6 out of the last 0 economic recoveries and 12 out of the last 9 recessions.

– The peak of the alt-a option arm recasts will be in 2011.

– Unemployment was the driving factor in the last 2 housing collapses in California. Unemployment affects housing a lot more than it does the overall economy.

[danthedart]

Have you guys read Dr. Housing Bubble’s latest?

10 Reasons Why Buying a Home in Southern California today is a Mistake. California Housing and Financial Market Analysis produces no Green Shoots.

A few interesting things from the article:

– The stock market is a bad indicator because its completely disconnected with what is happening in the real world. Remember the stock market has predicted 6 out of the last 0 economic recoveries and 12 out of the last 9 recessions.

– The peak of the alt-a option arm recasts will be in 2011.

– Unemployment was the driving factor in the last 2 housing collapses in California. Unemployment affects housing a lot more than it does the overall economy.

[danthedart]

Have you guys read Dr. Housing Bubble’s latest?

10 Reasons Why Buying a Home in Southern California today is a Mistake. California Housing and Financial Market Analysis produces no Green Shoots.

A few interesting things from the article:

– The stock market is a bad indicator because its completely disconnected with what is happening in the real world. Remember the stock market has predicted 6 out of the last 0 economic recoveries and 12 out of the last 9 recessions.

– The peak of the alt-a option arm recasts will be in 2011.

– Unemployment was the driving factor in the last 2 housing collapses in California. Unemployment affects housing a lot more than it does the overall economy.

[danthedart]

Have you guys read Dr. Housing Bubble’s latest?

10 Reasons Why Buying a Home in Southern California today is a Mistake. California Housing and Financial Market Analysis produces no Green Shoots.

A few interesting things from the article:

– The stock market is a bad indicator because its completely disconnected with what is happening in the real world. Remember the stock market has predicted 6 out of the last 0 economic recoveries and 12 out of the last 9 recessions.

– The peak of the alt-a option arm recasts will be in 2011.

– Unemployment was the driving factor in the last 2 housing collapses in California. Unemployment affects housing a lot more than it does the overall economy.

[peterb]

After talking to a lot of people out there, it sounds like financing is really tricky due to the pressure lenders are putting on appraisers to be very conservative. This in itself is a downward force on the product that does get sold.
This market is into completely uncharted water right now. Things going on and govt intervention I would never have believed would happen. In 2007 I knew it would get hammered, but nothing like this. This is really different than other recessionary events in the CA RE environment. This is incredibly desperate behavior, I dont see it ending well.

[peterb]

After talking to a lot of people out there, it sounds like financing is really tricky due to the pressure lenders are putting on appraisers to be very conservative. This in itself is a downward force on the product that does get sold.
This market is into completely uncharted water right now. Things going on and govt intervention I would never have believed would happen. In 2007 I knew it would get hammered, but nothing like this. This is really different than other recessionary events in the CA RE environment. This is incredibly desperate behavior, I dont see it ending well.

[peterb]

After talking to a lot of people out there, it sounds like financing is really tricky due to the pressure lenders are putting on appraisers to be very conservative. This in itself is a downward force on the product that does get sold.
This market is into completely uncharted water right now. Things going on and govt intervention I would never have believed would happen. In 2007 I knew it would get hammered, but nothing like this. This is really different than other recessionary events in the CA RE environment. This is incredibly desperate behavior, I dont see it ending well.

[peterb]

After talking to a lot of people out there, it sounds like financing is really tricky due to the pressure lenders are putting on appraisers to be very conservative. This in itself is a downward force on the product that does get sold.
This market is into completely uncharted water right now. Things going on and govt intervention I would never have believed would happen. In 2007 I knew it would get hammered, but nothing like this. This is really different than other recessionary events in the CA RE environment. This is incredibly desperate behavior, I dont see it ending well.

[Author]

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