Housing won’t hit bottom ’til 2012

[Coronita]

Sorry to say this, but until we see an implosion in the equity markets, I’d say home prices are going to trickle down ever so slowly for awhile….

Locally, QC, brcm, Intuit are all near 52 weeks high right now…and also with open head count..Heck, even former 6 bucks motorola is at it’s 52 week top end…So I think we’re ways away from any type of “implosion” imho. (Don’t shoot the messenger)

[sdrealtor]

Dont forget LPL Financial which just went public. I know a couple newly minted millionaires roaming the streets of SD in new Benz’s.

[sdrealtor]

Dont forget LPL Financial which just went public. I know a couple newly minted millionaires roaming the streets of SD in new Benz’s.

[sdrealtor]

Dont forget LPL Financial which just went public. I know a couple newly minted millionaires roaming the streets of SD in new Benz’s.

[sdrealtor]

Dont forget LPL Financial which just went public. I know a couple newly minted millionaires roaming the streets of SD in new Benz’s.

[sdrealtor]

Dont forget LPL Financial which just went public. I know a couple newly minted millionaires roaming the streets of SD in new Benz’s.

[bearishgurl]

[quote=deadzone] . . . There are so many people out there who still have good jobs but are living on the edge due to their interest only and neg-am loans. I know and work with several people in this category . . . [/quote]

deadzone, I sympathize with the plight of some of your co-workers, but did you ever think that THEY might be to blame for their troubles? Have you ever ASKED any of them if they had OPTION ARMS and if so, why they CHOSE to pay Option 1 or 2 each and every month since origination, KNOWING FULL WELL it would render them upside down and in hot water at “reset” time? Your co-workers were smart enough to read their loan docs at the time of origination, weren’t they??

If your co-workers DIDN’T take out OPTION ARMS, then WHY did they sign up for a 5/1, 7/1 or other type of I/O mortgage program? Could it be that they applied for a mortgage that was too high for them in attempt to obtain a property that was “out of their league?”

You appear to be blaming the Fed and the economy for all of their ills but where does borrower individual responsibility come into play? Just think about this for a minute.

[bearishgurl]

[quote=deadzone] . . . There are so many people out there who still have good jobs but are living on the edge due to their interest only and neg-am loans. I know and work with several people in this category . . . [/quote]

deadzone, I sympathize with the plight of some of your co-workers, but did you ever think that THEY might be to blame for their troubles? Have you ever ASKED any of them if they had OPTION ARMS and if so, why they CHOSE to pay Option 1 or 2 each and every month since origination, KNOWING FULL WELL it would render them upside down and in hot water at “reset” time? Your co-workers were smart enough to read their loan docs at the time of origination, weren’t they??

If your co-workers DIDN’T take out OPTION ARMS, then WHY did they sign up for a 5/1, 7/1 or other type of I/O mortgage program? Could it be that they applied for a mortgage that was too high for them in attempt to obtain a property that was “out of their league?”

You appear to be blaming the Fed and the economy for all of their ills but where does borrower individual responsibility come into play? Just think about this for a minute.

[bearishgurl]

[quote=deadzone] . . . There are so many people out there who still have good jobs but are living on the edge due to their interest only and neg-am loans. I know and work with several people in this category . . . [/quote]

deadzone, I sympathize with the plight of some of your co-workers, but did you ever think that THEY might be to blame for their troubles? Have you ever ASKED any of them if they had OPTION ARMS and if so, why they CHOSE to pay Option 1 or 2 each and every month since origination, KNOWING FULL WELL it would render them upside down and in hot water at “reset” time? Your co-workers were smart enough to read their loan docs at the time of origination, weren’t they??

If your co-workers DIDN’T take out OPTION ARMS, then WHY did they sign up for a 5/1, 7/1 or other type of I/O mortgage program? Could it be that they applied for a mortgage that was too high for them in attempt to obtain a property that was “out of their league?”

You appear to be blaming the Fed and the economy for all of their ills but where does borrower individual responsibility come into play? Just think about this for a minute.

[bearishgurl]

[quote=deadzone] . . . There are so many people out there who still have good jobs but are living on the edge due to their interest only and neg-am loans. I know and work with several people in this category . . . [/quote]

deadzone, I sympathize with the plight of some of your co-workers, but did you ever think that THEY might be to blame for their troubles? Have you ever ASKED any of them if they had OPTION ARMS and if so, why they CHOSE to pay Option 1 or 2 each and every month since origination, KNOWING FULL WELL it would render them upside down and in hot water at “reset” time? Your co-workers were smart enough to read their loan docs at the time of origination, weren’t they??

If your co-workers DIDN’T take out OPTION ARMS, then WHY did they sign up for a 5/1, 7/1 or other type of I/O mortgage program? Could it be that they applied for a mortgage that was too high for them in attempt to obtain a property that was “out of their league?”

You appear to be blaming the Fed and the economy for all of their ills but where does borrower individual responsibility come into play? Just think about this for a minute.

[bearishgurl]

[quote=deadzone] . . . There are so many people out there who still have good jobs but are living on the edge due to their interest only and neg-am loans. I know and work with several people in this category . . . [/quote]

deadzone, I sympathize with the plight of some of your co-workers, but did you ever think that THEY might be to blame for their troubles? Have you ever ASKED any of them if they had OPTION ARMS and if so, why they CHOSE to pay Option 1 or 2 each and every month since origination, KNOWING FULL WELL it would render them upside down and in hot water at “reset” time? Your co-workers were smart enough to read their loan docs at the time of origination, weren’t they??

If your co-workers DIDN’T take out OPTION ARMS, then WHY did they sign up for a 5/1, 7/1 or other type of I/O mortgage program? Could it be that they applied for a mortgage that was too high for them in attempt to obtain a property that was “out of their league?”

You appear to be blaming the Fed and the economy for all of their ills but where does borrower individual responsibility come into play? Just think about this for a minute.

[Anonymous]

[quote=bearishgurl][quote=deadzone] . . . There are so many people out there who still have good jobs but are living on the edge due to their interest only and neg-am loans. I know and work with several people in this category . . . [/quote]

deadzone, I sympathize with the plight of some of your co-workers, but did you ever think that THEY might be to blame for their troubles? Have you ever ASKED any of them if they had OPTION ARMS and if so, why they CHOSE to pay Option 1 or 2 each and every month since origination, KNOWING FULL WELL it would render them upside down and in hot water at “reset” time? Your co-workers were smart enough to read their loan docs at the time of origination, weren’t they??

If your co-workers DIDN’T take out OPTION ARMS, then WHY did they sign up for a 5/1, 7/1 or other type of I/O mortgage program? Could it be that they applied for a mortgage that was too high for them in attempt to obtain a property that was “out of their league?”

You appear to be blaming the Fed and the economy for all of their ills but where does borrower individual responsibility come into play? Just think about this for a minute.[/quote]

I’m not blaming anybody. I’m merely pointing out that there is a large population out there who have good jobs and are “living on the edge”, my co-workers are just part of that group. Basically EVERYBODY who bought a house in San Diego between 2004 and 2007 F-d up big time, regardless of their job status they are almost guaranteed to be under major water and job or not, many of these folks are at their limits in terms of paying the mortgage.

Most people that I know who are in this situation and still have a good job have chosen NOT to walk away due to feelings of morality, pride, not wanting to lose their credit (or security clearance for DoD workers), etc.

We’ll see how long they can last if interest rates rise significantly. I’m sure it will be disastrous. The Fed knows this, that is why it continues it’s reckless QE programs.

[Anonymous]

[quote=bearishgurl][quote=deadzone] . . . There are so many people out there who still have good jobs but are living on the edge due to their interest only and neg-am loans. I know and work with several people in this category . . . [/quote]

deadzone, I sympathize with the plight of some of your co-workers, but did you ever think that THEY might be to blame for their troubles? Have you ever ASKED any of them if they had OPTION ARMS and if so, why they CHOSE to pay Option 1 or 2 each and every month since origination, KNOWING FULL WELL it would render them upside down and in hot water at “reset” time? Your co-workers were smart enough to read their loan docs at the time of origination, weren’t they??

If your co-workers DIDN’T take out OPTION ARMS, then WHY did they sign up for a 5/1, 7/1 or other type of I/O mortgage program? Could it be that they applied for a mortgage that was too high for them in attempt to obtain a property that was “out of their league?”

You appear to be blaming the Fed and the economy for all of their ills but where does borrower individual responsibility come into play? Just think about this for a minute.[/quote]

I’m not blaming anybody. I’m merely pointing out that there is a large population out there who have good jobs and are “living on the edge”, my co-workers are just part of that group. Basically EVERYBODY who bought a house in San Diego between 2004 and 2007 F-d up big time, regardless of their job status they are almost guaranteed to be under major water and job or not, many of these folks are at their limits in terms of paying the mortgage.

Most people that I know who are in this situation and still have a good job have chosen NOT to walk away due to feelings of morality, pride, not wanting to lose their credit (or security clearance for DoD workers), etc.

We’ll see how long they can last if interest rates rise significantly. I’m sure it will be disastrous. The Fed knows this, that is why it continues it’s reckless QE programs.

[Anonymous]

[quote=bearishgurl][quote=deadzone] . . . There are so many people out there who still have good jobs but are living on the edge due to their interest only and neg-am loans. I know and work with several people in this category . . . [/quote]

deadzone, I sympathize with the plight of some of your co-workers, but did you ever think that THEY might be to blame for their troubles? Have you ever ASKED any of them if they had OPTION ARMS and if so, why they CHOSE to pay Option 1 or 2 each and every month since origination, KNOWING FULL WELL it would render them upside down and in hot water at “reset” time? Your co-workers were smart enough to read their loan docs at the time of origination, weren’t they??

If your co-workers DIDN’T take out OPTION ARMS, then WHY did they sign up for a 5/1, 7/1 or other type of I/O mortgage program? Could it be that they applied for a mortgage that was too high for them in attempt to obtain a property that was “out of their league?”

You appear to be blaming the Fed and the economy for all of their ills but where does borrower individual responsibility come into play? Just think about this for a minute.[/quote]

I’m not blaming anybody. I’m merely pointing out that there is a large population out there who have good jobs and are “living on the edge”, my co-workers are just part of that group. Basically EVERYBODY who bought a house in San Diego between 2004 and 2007 F-d up big time, regardless of their job status they are almost guaranteed to be under major water and job or not, many of these folks are at their limits in terms of paying the mortgage.

Most people that I know who are in this situation and still have a good job have chosen NOT to walk away due to feelings of morality, pride, not wanting to lose their credit (or security clearance for DoD workers), etc.

We’ll see how long they can last if interest rates rise significantly. I’m sure it will be disastrous. The Fed knows this, that is why it continues it’s reckless QE programs.

[Anonymous]

[quote=bearishgurl][quote=deadzone] . . . There are so many people out there who still have good jobs but are living on the edge due to their interest only and neg-am loans. I know and work with several people in this category . . . [/quote]

deadzone, I sympathize with the plight of some of your co-workers, but did you ever think that THEY might be to blame for their troubles? Have you ever ASKED any of them if they had OPTION ARMS and if so, why they CHOSE to pay Option 1 or 2 each and every month since origination, KNOWING FULL WELL it would render them upside down and in hot water at “reset” time? Your co-workers were smart enough to read their loan docs at the time of origination, weren’t they??

If your co-workers DIDN’T take out OPTION ARMS, then WHY did they sign up for a 5/1, 7/1 or other type of I/O mortgage program? Could it be that they applied for a mortgage that was too high for them in attempt to obtain a property that was “out of their league?”

You appear to be blaming the Fed and the economy for all of their ills but where does borrower individual responsibility come into play? Just think about this for a minute.[/quote]

I’m not blaming anybody. I’m merely pointing out that there is a large population out there who have good jobs and are “living on the edge”, my co-workers are just part of that group. Basically EVERYBODY who bought a house in San Diego between 2004 and 2007 F-d up big time, regardless of their job status they are almost guaranteed to be under major water and job or not, many of these folks are at their limits in terms of paying the mortgage.

Most people that I know who are in this situation and still have a good job have chosen NOT to walk away due to feelings of morality, pride, not wanting to lose their credit (or security clearance for DoD workers), etc.

We’ll see how long they can last if interest rates rise significantly. I’m sure it will be disastrous. The Fed knows this, that is why it continues it’s reckless QE programs.

[Author]

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