govt intervention

[Arraya]

Yes, PR the banks are responding to the will of the people. Just like with subprime. There was so many people that wanted loans the banks could not help themselves. See, the banks are super-trusting, pushovers in PRs eyes and evil strawberry picking Hummer drivers victimized the poor helpless banks.

Yeah, the banks benefit to loan modifications are not even considered. Right. It has nothing to do with trillions in bets they can’t pay as well as the easiest and quickest way to keep home prices high which their health depends on. Suurre…

[sdrealtor]

[quote=paramount][quote=sdrealtor]Just to clarify eavesdropper is in DC not San Diego. We have a very active RE market here, far more active than most places. There is huge demand here for well priced homes in any market, good or bad. That just isnt true in most markets across the US and I suspect DC might be one of those.[/quote]

I’d say the RE market in the DC area is “healthy” compared to most areas of the country including California – for one thing the unemployment rate in the DC area is among the lowest in the country.

The DC area is basically immune to recessions – that’s a dirty little beltway secret that’s not such a secret anymore.

Of course that low unemployment rate comes at the expense of the rest of the country since the vast majority of employment in the DC region is in the form of gov’t workers and beltway bandits.

That being said, I doubt there is a ‘huge’ demand even in the DC area. Will these realtor’s ever stop with the BS?[/quote]

Paramount
That wasnt BS it was an I dont know if we are comparing apples and oranges in SD and DC markets. I grew up back east in a very desriareable place and people never cared about houses the way they do out here. They still dont. I have a new listing that is not priced anything close to aggressively. They have 20 showings scheduled for today already. The house is priced above $700,000. Call me crazy but I just dont see that happening in DC on January 16th. Dont shoot the messenger, I’m just reporting what I see. Sorry you dont like hearing it.

sdr

[sdrealtor]

[quote=paramount][quote=sdrealtor]Just to clarify eavesdropper is in DC not San Diego. We have a very active RE market here, far more active than most places. There is huge demand here for well priced homes in any market, good or bad. That just isnt true in most markets across the US and I suspect DC might be one of those.[/quote]

I’d say the RE market in the DC area is “healthy” compared to most areas of the country including California – for one thing the unemployment rate in the DC area is among the lowest in the country.

The DC area is basically immune to recessions – that’s a dirty little beltway secret that’s not such a secret anymore.

Of course that low unemployment rate comes at the expense of the rest of the country since the vast majority of employment in the DC region is in the form of gov’t workers and beltway bandits.

That being said, I doubt there is a ‘huge’ demand even in the DC area. Will these realtor’s ever stop with the BS?[/quote]

Paramount
That wasnt BS it was an I dont know if we are comparing apples and oranges in SD and DC markets. I grew up back east in a very desriareable place and people never cared about houses the way they do out here. They still dont. I have a new listing that is not priced anything close to aggressively. They have 20 showings scheduled for today already. The house is priced above $700,000. Call me crazy but I just dont see that happening in DC on January 16th. Dont shoot the messenger, I’m just reporting what I see. Sorry you dont like hearing it.

sdr

[sdrealtor]

[quote=paramount][quote=sdrealtor]Just to clarify eavesdropper is in DC not San Diego. We have a very active RE market here, far more active than most places. There is huge demand here for well priced homes in any market, good or bad. That just isnt true in most markets across the US and I suspect DC might be one of those.[/quote]

I’d say the RE market in the DC area is “healthy” compared to most areas of the country including California – for one thing the unemployment rate in the DC area is among the lowest in the country.

The DC area is basically immune to recessions – that’s a dirty little beltway secret that’s not such a secret anymore.

Of course that low unemployment rate comes at the expense of the rest of the country since the vast majority of employment in the DC region is in the form of gov’t workers and beltway bandits.

That being said, I doubt there is a ‘huge’ demand even in the DC area. Will these realtor’s ever stop with the BS?[/quote]

Paramount
That wasnt BS it was an I dont know if we are comparing apples and oranges in SD and DC markets. I grew up back east in a very desriareable place and people never cared about houses the way they do out here. They still dont. I have a new listing that is not priced anything close to aggressively. They have 20 showings scheduled for today already. The house is priced above $700,000. Call me crazy but I just dont see that happening in DC on January 16th. Dont shoot the messenger, I’m just reporting what I see. Sorry you dont like hearing it.

sdr

[sdrealtor]

[quote=paramount][quote=sdrealtor]Just to clarify eavesdropper is in DC not San Diego. We have a very active RE market here, far more active than most places. There is huge demand here for well priced homes in any market, good or bad. That just isnt true in most markets across the US and I suspect DC might be one of those.[/quote]

I’d say the RE market in the DC area is “healthy” compared to most areas of the country including California – for one thing the unemployment rate in the DC area is among the lowest in the country.

The DC area is basically immune to recessions – that’s a dirty little beltway secret that’s not such a secret anymore.

Of course that low unemployment rate comes at the expense of the rest of the country since the vast majority of employment in the DC region is in the form of gov’t workers and beltway bandits.

That being said, I doubt there is a ‘huge’ demand even in the DC area. Will these realtor’s ever stop with the BS?[/quote]

Paramount
That wasnt BS it was an I dont know if we are comparing apples and oranges in SD and DC markets. I grew up back east in a very desriareable place and people never cared about houses the way they do out here. They still dont. I have a new listing that is not priced anything close to aggressively. They have 20 showings scheduled for today already. The house is priced above $700,000. Call me crazy but I just dont see that happening in DC on January 16th. Dont shoot the messenger, I’m just reporting what I see. Sorry you dont like hearing it.

sdr

[sdrealtor]

[quote=paramount][quote=sdrealtor]Just to clarify eavesdropper is in DC not San Diego. We have a very active RE market here, far more active than most places. There is huge demand here for well priced homes in any market, good or bad. That just isnt true in most markets across the US and I suspect DC might be one of those.[/quote]

I’d say the RE market in the DC area is “healthy” compared to most areas of the country including California – for one thing the unemployment rate in the DC area is among the lowest in the country.

The DC area is basically immune to recessions – that’s a dirty little beltway secret that’s not such a secret anymore.

Of course that low unemployment rate comes at the expense of the rest of the country since the vast majority of employment in the DC region is in the form of gov’t workers and beltway bandits.

That being said, I doubt there is a ‘huge’ demand even in the DC area. Will these realtor’s ever stop with the BS?[/quote]

Paramount
That wasnt BS it was an I dont know if we are comparing apples and oranges in SD and DC markets. I grew up back east in a very desriareable place and people never cared about houses the way they do out here. They still dont. I have a new listing that is not priced anything close to aggressively. They have 20 showings scheduled for today already. The house is priced above $700,000. Call me crazy but I just dont see that happening in DC on January 16th. Dont shoot the messenger, I’m just reporting what I see. Sorry you dont like hearing it.

sdr

[patientrenter]

[quote=Arraya]Yes, PR the banks are responding to the will of the people. Just like with subprime. There was so many people that wanted loans the banks could not help themselves. See, the banks are super-trusting, pushovers in PRs eyes and evil strawberry picking Hummer drivers victimized the poor helpless banks.

Yeah, the banks benefit to loan modifications are not even considered. Right. It has nothing to do with trillions in bets they can’t pay as well as the easiest and quickest way to keep home prices high which their health depends on. Suurre…[/quote]

Like I say, Arraya, if you believe people with money should keep lending, and should also forgive loans, then just send me your check. When I don’t repay, I’d be happy to hear from you why that’s all for the best.

[patientrenter]

[quote=Arraya]Yes, PR the banks are responding to the will of the people. Just like with subprime. There was so many people that wanted loans the banks could not help themselves. See, the banks are super-trusting, pushovers in PRs eyes and evil strawberry picking Hummer drivers victimized the poor helpless banks.

Yeah, the banks benefit to loan modifications are not even considered. Right. It has nothing to do with trillions in bets they can’t pay as well as the easiest and quickest way to keep home prices high which their health depends on. Suurre…[/quote]

Like I say, Arraya, if you believe people with money should keep lending, and should also forgive loans, then just send me your check. When I don’t repay, I’d be happy to hear from you why that’s all for the best.

[patientrenter]

[quote=Arraya]Yes, PR the banks are responding to the will of the people. Just like with subprime. There was so many people that wanted loans the banks could not help themselves. See, the banks are super-trusting, pushovers in PRs eyes and evil strawberry picking Hummer drivers victimized the poor helpless banks.

Yeah, the banks benefit to loan modifications are not even considered. Right. It has nothing to do with trillions in bets they can’t pay as well as the easiest and quickest way to keep home prices high which their health depends on. Suurre…[/quote]

Like I say, Arraya, if you believe people with money should keep lending, and should also forgive loans, then just send me your check. When I don’t repay, I’d be happy to hear from you why that’s all for the best.

[patientrenter]

[quote=Arraya]Yes, PR the banks are responding to the will of the people. Just like with subprime. There was so many people that wanted loans the banks could not help themselves. See, the banks are super-trusting, pushovers in PRs eyes and evil strawberry picking Hummer drivers victimized the poor helpless banks.

Yeah, the banks benefit to loan modifications are not even considered. Right. It has nothing to do with trillions in bets they can’t pay as well as the easiest and quickest way to keep home prices high which their health depends on. Suurre…[/quote]

Like I say, Arraya, if you believe people with money should keep lending, and should also forgive loans, then just send me your check. When I don’t repay, I’d be happy to hear from you why that’s all for the best.

[patientrenter]

[quote=Arraya]Yes, PR the banks are responding to the will of the people. Just like with subprime. There was so many people that wanted loans the banks could not help themselves. See, the banks are super-trusting, pushovers in PRs eyes and evil strawberry picking Hummer drivers victimized the poor helpless banks.

Yeah, the banks benefit to loan modifications are not even considered. Right. It has nothing to do with trillions in bets they can’t pay as well as the easiest and quickest way to keep home prices high which their health depends on. Suurre…[/quote]

Like I say, Arraya, if you believe people with money should keep lending, and should also forgive loans, then just send me your check. When I don’t repay, I’d be happy to hear from you why that’s all for the best.

[SK in CV]

[quote=patientrenter][quote=SK in CV]….
You think it’s all about the borrowers. It isn’t. It’s about the lenders.[/quote]

I like your reasoning: Repaying loans is not the borrowers’ responsibility, but doubtless you think lenders should keep lending.

So then you won’t mind sending me a cashier’s check for your net worth, as a loan that won’t be repaid. I am waiting.[/quote]

You’re misunderstanding what I’m saying. The problems in real estate began with the lenders, not with the borrowers. The borrowers were the last piece of the puzzle, not the first. They weren’t blameless, but nobody was. From the loan originators and every broker, lender, underwriter, packager and investor. For the most part, the lenders still hold the cards. I’m sure most borrowers fully intend to repay loans when they’re made and only stop paying when they simply can’t afford the payments. But I would make no judgement with regards to an underwater borrower who chooses to exercise their contractual option and stops paying. The loan contract has quite specific language on the recourse the lender has in that circumstance.

And yes, I think the lenders should keep lending. But only to qualified borrowers and carefully underwritten loans. If I sent you a check for my net worth, I’d be as dumb as many of the lenders that made bad loans over the last 5 years, except there would be little chance of me be being bailed out by the government when you failed to repay.

[SK in CV]

[quote=patientrenter][quote=SK in CV]….
You think it’s all about the borrowers. It isn’t. It’s about the lenders.[/quote]

I like your reasoning: Repaying loans is not the borrowers’ responsibility, but doubtless you think lenders should keep lending.

So then you won’t mind sending me a cashier’s check for your net worth, as a loan that won’t be repaid. I am waiting.[/quote]

You’re misunderstanding what I’m saying. The problems in real estate began with the lenders, not with the borrowers. The borrowers were the last piece of the puzzle, not the first. They weren’t blameless, but nobody was. From the loan originators and every broker, lender, underwriter, packager and investor. For the most part, the lenders still hold the cards. I’m sure most borrowers fully intend to repay loans when they’re made and only stop paying when they simply can’t afford the payments. But I would make no judgement with regards to an underwater borrower who chooses to exercise their contractual option and stops paying. The loan contract has quite specific language on the recourse the lender has in that circumstance.

And yes, I think the lenders should keep lending. But only to qualified borrowers and carefully underwritten loans. If I sent you a check for my net worth, I’d be as dumb as many of the lenders that made bad loans over the last 5 years, except there would be little chance of me be being bailed out by the government when you failed to repay.

[SK in CV]

[quote=patientrenter][quote=SK in CV]….
You think it’s all about the borrowers. It isn’t. It’s about the lenders.[/quote]

I like your reasoning: Repaying loans is not the borrowers’ responsibility, but doubtless you think lenders should keep lending.

So then you won’t mind sending me a cashier’s check for your net worth, as a loan that won’t be repaid. I am waiting.[/quote]

You’re misunderstanding what I’m saying. The problems in real estate began with the lenders, not with the borrowers. The borrowers were the last piece of the puzzle, not the first. They weren’t blameless, but nobody was. From the loan originators and every broker, lender, underwriter, packager and investor. For the most part, the lenders still hold the cards. I’m sure most borrowers fully intend to repay loans when they’re made and only stop paying when they simply can’t afford the payments. But I would make no judgement with regards to an underwater borrower who chooses to exercise their contractual option and stops paying. The loan contract has quite specific language on the recourse the lender has in that circumstance.

And yes, I think the lenders should keep lending. But only to qualified borrowers and carefully underwritten loans. If I sent you a check for my net worth, I’d be as dumb as many of the lenders that made bad loans over the last 5 years, except there would be little chance of me be being bailed out by the government when you failed to repay.

[SK in CV]

[quote=patientrenter][quote=SK in CV]….
You think it’s all about the borrowers. It isn’t. It’s about the lenders.[/quote]

I like your reasoning: Repaying loans is not the borrowers’ responsibility, but doubtless you think lenders should keep lending.

So then you won’t mind sending me a cashier’s check for your net worth, as a loan that won’t be repaid. I am waiting.[/quote]

You’re misunderstanding what I’m saying. The problems in real estate began with the lenders, not with the borrowers. The borrowers were the last piece of the puzzle, not the first. They weren’t blameless, but nobody was. From the loan originators and every broker, lender, underwriter, packager and investor. For the most part, the lenders still hold the cards. I’m sure most borrowers fully intend to repay loans when they’re made and only stop paying when they simply can’t afford the payments. But I would make no judgement with regards to an underwater borrower who chooses to exercise their contractual option and stops paying. The loan contract has quite specific language on the recourse the lender has in that circumstance.

And yes, I think the lenders should keep lending. But only to qualified borrowers and carefully underwritten loans. If I sent you a check for my net worth, I’d be as dumb as many of the lenders that made bad loans over the last 5 years, except there would be little chance of me be being bailed out by the government when you failed to repay.

[Author]

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