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  • March 12, 2009 at 10:01 AM #365153
    denverite
    Participant

    The lower and more inland end is still foreclosing at a rapid rate, although many speculators/buyers have jumped in lately. What does this portend for the coastal areas whose pricing has barely budged, and whose truly exotic loans will be resetting for the next two years? Guess. I don’t believe that the massive federal government intervention programs can save the higher end areas, though many would like to believe so.

    Just a few months back, the interesting discussions on this board were starting to look like endangered species. Oh how things have changed.

    March 12, 2009 at 11:05 AM #364666
    DWCAP
    Participant

    At least they finally have a number on the “Shadow Inventory”. 700k homes owned by banks but not on a MLS. Remember when we use to debate about the existance of a shadow inventory in an meaningful way?

    This article is also quoteing that as of December 2008 12% of all morgages were atleast 1 month late. Now here in March we have had a crumbling job market and 650k plus new filings for unemployment every week. I just dont see how this wont keep going for a long time if people cant get work. I wonder if we have already hit 15% for March 09.

    On a side note, Obama’s plan is to refi a house up to 31% of a borrowers income. If the borrower is a two income household, and one income is lost, will the house be refied to 31% of only that one income? That could be a huge swing in payments!

    March 12, 2009 at 11:05 AM #364951
    DWCAP
    Participant

    At least they finally have a number on the “Shadow Inventory”. 700k homes owned by banks but not on a MLS. Remember when we use to debate about the existance of a shadow inventory in an meaningful way?

    This article is also quoteing that as of December 2008 12% of all morgages were atleast 1 month late. Now here in March we have had a crumbling job market and 650k plus new filings for unemployment every week. I just dont see how this wont keep going for a long time if people cant get work. I wonder if we have already hit 15% for March 09.

    On a side note, Obama’s plan is to refi a house up to 31% of a borrowers income. If the borrower is a two income household, and one income is lost, will the house be refied to 31% of only that one income? That could be a huge swing in payments!

    March 12, 2009 at 11:05 AM #365109
    DWCAP
    Participant

    At least they finally have a number on the “Shadow Inventory”. 700k homes owned by banks but not on a MLS. Remember when we use to debate about the existance of a shadow inventory in an meaningful way?

    This article is also quoteing that as of December 2008 12% of all morgages were atleast 1 month late. Now here in March we have had a crumbling job market and 650k plus new filings for unemployment every week. I just dont see how this wont keep going for a long time if people cant get work. I wonder if we have already hit 15% for March 09.

    On a side note, Obama’s plan is to refi a house up to 31% of a borrowers income. If the borrower is a two income household, and one income is lost, will the house be refied to 31% of only that one income? That could be a huge swing in payments!

    March 12, 2009 at 11:05 AM #365145
    DWCAP
    Participant

    At least they finally have a number on the “Shadow Inventory”. 700k homes owned by banks but not on a MLS. Remember when we use to debate about the existance of a shadow inventory in an meaningful way?

    This article is also quoteing that as of December 2008 12% of all morgages were atleast 1 month late. Now here in March we have had a crumbling job market and 650k plus new filings for unemployment every week. I just dont see how this wont keep going for a long time if people cant get work. I wonder if we have already hit 15% for March 09.

    On a side note, Obama’s plan is to refi a house up to 31% of a borrowers income. If the borrower is a two income household, and one income is lost, will the house be refied to 31% of only that one income? That could be a huge swing in payments!

    March 12, 2009 at 11:05 AM #365258
    DWCAP
    Participant

    At least they finally have a number on the “Shadow Inventory”. 700k homes owned by banks but not on a MLS. Remember when we use to debate about the existance of a shadow inventory in an meaningful way?

    This article is also quoteing that as of December 2008 12% of all morgages were atleast 1 month late. Now here in March we have had a crumbling job market and 650k plus new filings for unemployment every week. I just dont see how this wont keep going for a long time if people cant get work. I wonder if we have already hit 15% for March 09.

    On a side note, Obama’s plan is to refi a house up to 31% of a borrowers income. If the borrower is a two income household, and one income is lost, will the house be refied to 31% of only that one income? That could be a huge swing in payments!

    March 12, 2009 at 4:12 PM #364830
    rube
    Participant

    “On a side note, Obama’s plan is to refi a house up to 31% of a borrowers income. If the borrower is a two income household, and one income is lost, will the house be refied to 31% of only that one income? That could be a huge swing in payments!”

    great…incentivize unemployment. don’t walk away from your house, walk away from your job!

    March 12, 2009 at 4:12 PM #365116
    rube
    Participant

    “On a side note, Obama’s plan is to refi a house up to 31% of a borrowers income. If the borrower is a two income household, and one income is lost, will the house be refied to 31% of only that one income? That could be a huge swing in payments!”

    great…incentivize unemployment. don’t walk away from your house, walk away from your job!

    March 12, 2009 at 4:12 PM #365274
    rube
    Participant

    “On a side note, Obama’s plan is to refi a house up to 31% of a borrowers income. If the borrower is a two income household, and one income is lost, will the house be refied to 31% of only that one income? That could be a huge swing in payments!”

    great…incentivize unemployment. don’t walk away from your house, walk away from your job!

    March 12, 2009 at 4:12 PM #365313
    rube
    Participant

    “On a side note, Obama’s plan is to refi a house up to 31% of a borrowers income. If the borrower is a two income household, and one income is lost, will the house be refied to 31% of only that one income? That could be a huge swing in payments!”

    great…incentivize unemployment. don’t walk away from your house, walk away from your job!

    March 12, 2009 at 4:12 PM #365422
    rube
    Participant

    “On a side note, Obama’s plan is to refi a house up to 31% of a borrowers income. If the borrower is a two income household, and one income is lost, will the house be refied to 31% of only that one income? That could be a huge swing in payments!”

    great…incentivize unemployment. don’t walk away from your house, walk away from your job!

    March 12, 2009 at 6:43 PM #364949
    Nor-LA-SD-guy
    Participant

    A little off topic for this thread,

    IMO ,

    The way the News media and the Internet tend to hype everything bubbles and busts included

    Also the internet and Globalization just in time manufacturing the whole thing.

    I think that is the only economic cycles we can have now will be bubbles and depressions,
    I think we will always be in either an economic bubble or a depression from now on, just make sure you always have the resources to get you through the next depression (during the next bubble) and you will make it out ok I think.

    March 12, 2009 at 6:43 PM #365237
    Nor-LA-SD-guy
    Participant

    A little off topic for this thread,

    IMO ,

    The way the News media and the Internet tend to hype everything bubbles and busts included

    Also the internet and Globalization just in time manufacturing the whole thing.

    I think that is the only economic cycles we can have now will be bubbles and depressions,
    I think we will always be in either an economic bubble or a depression from now on, just make sure you always have the resources to get you through the next depression (during the next bubble) and you will make it out ok I think.

    March 12, 2009 at 6:43 PM #365394
    Nor-LA-SD-guy
    Participant

    A little off topic for this thread,

    IMO ,

    The way the News media and the Internet tend to hype everything bubbles and busts included

    Also the internet and Globalization just in time manufacturing the whole thing.

    I think that is the only economic cycles we can have now will be bubbles and depressions,
    I think we will always be in either an economic bubble or a depression from now on, just make sure you always have the resources to get you through the next depression (during the next bubble) and you will make it out ok I think.

    March 12, 2009 at 6:43 PM #365433
    Nor-LA-SD-guy
    Participant

    A little off topic for this thread,

    IMO ,

    The way the News media and the Internet tend to hype everything bubbles and busts included

    Also the internet and Globalization just in time manufacturing the whole thing.

    I think that is the only economic cycles we can have now will be bubbles and depressions,
    I think we will always be in either an economic bubble or a depression from now on, just make sure you always have the resources to get you through the next depression (during the next bubble) and you will make it out ok I think.

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