Homes in foreclosure top 1 million

[sdrealtor]

Congrat’s ex-sd you just earned a Masters of the Obvious degree!

[Ex-SD]

sdrealtor: As usual, you’re just a first-class Asshole. What may be obvious to you is not necessarily obvious to everyone who comes to this site. There are many visitors who may be here for the first time or rarely stop by who don’t don’t have a clue what’s going on but are trying to get information.
You must be a real peach to work with when someone is using you as their real estate agent. (And you probably wonder why people have such a low opinion of real estate agents)

[Ex-SD]

sdrealtor: As usual, you’re just a first-class Asshole. What may be obvious to you is not necessarily obvious to everyone who comes to this site. There are many visitors who may be here for the first time or rarely stop by who don’t don’t have a clue what’s going on but are trying to get information.
You must be a real peach to work with when someone is using you as their real estate agent. (And you probably wonder why people have such a low opinion of real estate agents)

[Ex-SD]

sdrealtor: As usual, you’re just a first-class Asshole. What may be obvious to you is not necessarily obvious to everyone who comes to this site. There are many visitors who may be here for the first time or rarely stop by who don’t don’t have a clue what’s going on but are trying to get information.
You must be a real peach to work with when someone is using you as their real estate agent. (And you probably wonder why people have such a low opinion of real estate agents)

[Ex-SD]

sdrealtor: As usual, you’re just a first-class Asshole. What may be obvious to you is not necessarily obvious to everyone who comes to this site. There are many visitors who may be here for the first time or rarely stop by who don’t don’t have a clue what’s going on but are trying to get information.
You must be a real peach to work with when someone is using you as their real estate agent. (And you probably wonder why people have such a low opinion of real estate agents)

[Ex-SD]

sdrealtor: As usual, you’re just a first-class Asshole. What may be obvious to you is not necessarily obvious to everyone who comes to this site. There are many visitors who may be here for the first time or rarely stop by who don’t don’t have a clue what’s going on but are trying to get information.
You must be a real peach to work with when someone is using you as their real estate agent. (And you probably wonder why people have such a low opinion of real estate agents)

[cr]

Many of us here have been expecting news like this for years now. Now that we’re hearing it we know the bottom is closer but we need not jump the gun.

You’re right Ex-SD it’s going to take years to get here, and we’ve still got a lot crap to go through.

That’s why I roll my eyes anytime someone says sales are up or inventory is down month over month or even year over year implying the bottom is here or at least close.

With prices down 20% it’s no wonder some people, probably down-sizing their McMansion, are buying in at lower prices and taking some inventory off the market. You can’t celebrate one gauge of the market and ignore how terrible another is. Well, you can, but you’re a fool, and an even bigger one if you make a decision based on that.

I personally don’t see a bottom until the response to good news is continued expectation of bad. Such responses are lagging indicators too.

This record high of foreclosures signals nothing but more pain to come. As distressed “owners” are forced to buy something they can afford you can expect the damage to work its way up the food chain.

[cr]

Many of us here have been expecting news like this for years now. Now that we’re hearing it we know the bottom is closer but we need not jump the gun.

You’re right Ex-SD it’s going to take years to get here, and we’ve still got a lot crap to go through.

That’s why I roll my eyes anytime someone says sales are up or inventory is down month over month or even year over year implying the bottom is here or at least close.

With prices down 20% it’s no wonder some people, probably down-sizing their McMansion, are buying in at lower prices and taking some inventory off the market. You can’t celebrate one gauge of the market and ignore how terrible another is. Well, you can, but you’re a fool, and an even bigger one if you make a decision based on that.

I personally don’t see a bottom until the response to good news is continued expectation of bad. Such responses are lagging indicators too.

This record high of foreclosures signals nothing but more pain to come. As distressed “owners” are forced to buy something they can afford you can expect the damage to work its way up the food chain.

[cr]

Many of us here have been expecting news like this for years now. Now that we’re hearing it we know the bottom is closer but we need not jump the gun.

You’re right Ex-SD it’s going to take years to get here, and we’ve still got a lot crap to go through.

That’s why I roll my eyes anytime someone says sales are up or inventory is down month over month or even year over year implying the bottom is here or at least close.

With prices down 20% it’s no wonder some people, probably down-sizing their McMansion, are buying in at lower prices and taking some inventory off the market. You can’t celebrate one gauge of the market and ignore how terrible another is. Well, you can, but you’re a fool, and an even bigger one if you make a decision based on that.

I personally don’t see a bottom until the response to good news is continued expectation of bad. Such responses are lagging indicators too.

This record high of foreclosures signals nothing but more pain to come. As distressed “owners” are forced to buy something they can afford you can expect the damage to work its way up the food chain.

[cr]

Many of us here have been expecting news like this for years now. Now that we’re hearing it we know the bottom is closer but we need not jump the gun.

You’re right Ex-SD it’s going to take years to get here, and we’ve still got a lot crap to go through.

That’s why I roll my eyes anytime someone says sales are up or inventory is down month over month or even year over year implying the bottom is here or at least close.

With prices down 20% it’s no wonder some people, probably down-sizing their McMansion, are buying in at lower prices and taking some inventory off the market. You can’t celebrate one gauge of the market and ignore how terrible another is. Well, you can, but you’re a fool, and an even bigger one if you make a decision based on that.

I personally don’t see a bottom until the response to good news is continued expectation of bad. Such responses are lagging indicators too.

This record high of foreclosures signals nothing but more pain to come. As distressed “owners” are forced to buy something they can afford you can expect the damage to work its way up the food chain.

[cr]

Many of us here have been expecting news like this for years now. Now that we’re hearing it we know the bottom is closer but we need not jump the gun.

You’re right Ex-SD it’s going to take years to get here, and we’ve still got a lot crap to go through.

That’s why I roll my eyes anytime someone says sales are up or inventory is down month over month or even year over year implying the bottom is here or at least close.

With prices down 20% it’s no wonder some people, probably down-sizing their McMansion, are buying in at lower prices and taking some inventory off the market. You can’t celebrate one gauge of the market and ignore how terrible another is. Well, you can, but you’re a fool, and an even bigger one if you make a decision based on that.

I personally don’t see a bottom until the response to good news is continued expectation of bad. Such responses are lagging indicators too.

This record high of foreclosures signals nothing but more pain to come. As distressed “owners” are forced to buy something they can afford you can expect the damage to work its way up the food chain.

[drunkle]

mr mortgage’s thesis is that resets matter less than equity or lack thereof. i agree with it as it’s logical, reasonable and tends to be backed up with the numbers; despite the lack of reset (lower rates, farther out time frame), nod’s to alt-a morts are rising fast. presumably due to negative equity.

using that, foreclosure activity should accelerate ahead of the reset chart, especially now with rising libor and continuing price drops. i’m thinking that some 25 to 50% of 2004+ vintage alt-a holders will jump ship (jingle mail, squat, short sell, etc) before being stuck in the position of both neg equity and doubled payments.

it might not take but a year or two to “get there”.

i’m also thinking that may be the “holy shit” moment when j6p finally gets it; housing isn’t turning around, real estate doesn’t always go up, credit isn’t free. the msm will be permanently glum, the markets will have tanked, banks gone tits and satan begins his reign of terror.

4 horsemen = foreclosed house-men… foreclosed houses… anyway.

[drunkle]

mr mortgage’s thesis is that resets matter less than equity or lack thereof. i agree with it as it’s logical, reasonable and tends to be backed up with the numbers; despite the lack of reset (lower rates, farther out time frame), nod’s to alt-a morts are rising fast. presumably due to negative equity.

using that, foreclosure activity should accelerate ahead of the reset chart, especially now with rising libor and continuing price drops. i’m thinking that some 25 to 50% of 2004+ vintage alt-a holders will jump ship (jingle mail, squat, short sell, etc) before being stuck in the position of both neg equity and doubled payments.

it might not take but a year or two to “get there”.

i’m also thinking that may be the “holy shit” moment when j6p finally gets it; housing isn’t turning around, real estate doesn’t always go up, credit isn’t free. the msm will be permanently glum, the markets will have tanked, banks gone tits and satan begins his reign of terror.

4 horsemen = foreclosed house-men… foreclosed houses… anyway.

[drunkle]

mr mortgage’s thesis is that resets matter less than equity or lack thereof. i agree with it as it’s logical, reasonable and tends to be backed up with the numbers; despite the lack of reset (lower rates, farther out time frame), nod’s to alt-a morts are rising fast. presumably due to negative equity.

using that, foreclosure activity should accelerate ahead of the reset chart, especially now with rising libor and continuing price drops. i’m thinking that some 25 to 50% of 2004+ vintage alt-a holders will jump ship (jingle mail, squat, short sell, etc) before being stuck in the position of both neg equity and doubled payments.

it might not take but a year or two to “get there”.

i’m also thinking that may be the “holy shit” moment when j6p finally gets it; housing isn’t turning around, real estate doesn’t always go up, credit isn’t free. the msm will be permanently glum, the markets will have tanked, banks gone tits and satan begins his reign of terror.

4 horsemen = foreclosed house-men… foreclosed houses… anyway.

[drunkle]

mr mortgage’s thesis is that resets matter less than equity or lack thereof. i agree with it as it’s logical, reasonable and tends to be backed up with the numbers; despite the lack of reset (lower rates, farther out time frame), nod’s to alt-a morts are rising fast. presumably due to negative equity.

using that, foreclosure activity should accelerate ahead of the reset chart, especially now with rising libor and continuing price drops. i’m thinking that some 25 to 50% of 2004+ vintage alt-a holders will jump ship (jingle mail, squat, short sell, etc) before being stuck in the position of both neg equity and doubled payments.

it might not take but a year or two to “get there”.

i’m also thinking that may be the “holy shit” moment when j6p finally gets it; housing isn’t turning around, real estate doesn’t always go up, credit isn’t free. the msm will be permanently glum, the markets will have tanked, banks gone tits and satan begins his reign of terror.

4 horsemen = foreclosed house-men… foreclosed houses… anyway.

[Author]

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