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cr.
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July 16, 2007 at 8:32 AM #65967July 16, 2007 at 8:32 AM #66032
CoronitaParticipantWow, Countrywide has about 20 pages (100/page) of California homes.
Ouch.
July 16, 2007 at 8:45 AM #65969LA_Renter
ParticipantIs it just me or does it seem that most people are very calm and complacent in the face of one the largest waves of foreclosures to ever hit the residential RE market. The people that I talk to that don’t follow the market just aren’t aware of this and don’t really seem to care. Is there some piece of information I’m missing here?
July 16, 2007 at 8:45 AM #66034ParticipantIs it just me or does it seem that most people are very calm and complacent in the face of one the largest waves of foreclosures to ever hit the residential RE market. The people that I talk to that don’t follow the market just aren’t aware of this and don’t really seem to care. Is there some piece of information I’m missing here?
July 16, 2007 at 8:55 AM #65971Allan from Fallbrook
ParticipantLA_Renter: I think people, by and large, have been continuing to buy into the propaganda that the NAR and Mortgage Bankers Assn have been putting out about the bottom being in sight and the worst is over.
Not a day goes by without some pronouncement from a home building, lending or realty group spokesperson about housing being set to “pick back up” or “rebound”. Even locally, you have yutzes at the UT or Transcript bloviating about the “difference” in the San Diego market, and why we will be somewhat immune from “downturn”. The euphemisms being used to downplay this bloodbath are positively Soviet.
I wonder what Baghdad Bob is doing for work lately. He would be a great spokesman for the NAR
July 16, 2007 at 8:55 AM #66036ParticipantLA_Renter: I think people, by and large, have been continuing to buy into the propaganda that the NAR and Mortgage Bankers Assn have been putting out about the bottom being in sight and the worst is over.
Not a day goes by without some pronouncement from a home building, lending or realty group spokesperson about housing being set to “pick back up” or “rebound”. Even locally, you have yutzes at the UT or Transcript bloviating about the “difference” in the San Diego market, and why we will be somewhat immune from “downturn”. The euphemisms being used to downplay this bloodbath are positively Soviet.
I wonder what Baghdad Bob is doing for work lately. He would be a great spokesman for the NAR
July 16, 2007 at 9:17 AM #65973donaldduckmoore
ParticipantI heard that properties held by countrywide are not solely their properties but those of other banks too. They have so many because they have a specialized team that deals with foreclosure and other banks outsource to them.
July 16, 2007 at 9:17 AM #66038ParticipantI heard that properties held by countrywide are not solely their properties but those of other banks too. They have so many because they have a specialized team that deals with foreclosure and other banks outsource to them.
July 16, 2007 at 9:19 AM #65977Artifact
ParticipantWow – a quick scan of the Countr Wide listings – 1953 of them in California.
Assuming (conservatively I think) an average price of 250K that is over 488 million (on paper) in real estate they have sitting on the market just in CA. I would think at some point they have to try and recoup some of that before the end of the fiscal year – I am not sure how that works with their current financial “situtation”.
T
July 16, 2007 at 9:19 AM #66042ParticipantWow – a quick scan of the Countr Wide listings – 1953 of them in California.
Assuming (conservatively I think) an average price of 250K that is over 488 million (on paper) in real estate they have sitting on the market just in CA. I would think at some point they have to try and recoup some of that before the end of the fiscal year – I am not sure how that works with their current financial “situtation”.
T
July 16, 2007 at 9:21 AM #65979ParticipantLA-Renter, most people don’t know what happened in RE unless they are selling, buying, or those investors who are interested in RE. But I happened to ask my RE agent one day about how she feels about the market. She said there is a correction and the house price has really gone down a little, but she denies that there is a bubble. I believe the brokers brainwash the realtors once in a while on how to respond to customers’ questions on RE.
July 16, 2007 at 9:21 AM #66044ParticipantLA-Renter, most people don’t know what happened in RE unless they are selling, buying, or those investors who are interested in RE. But I happened to ask my RE agent one day about how she feels about the market. She said there is a correction and the house price has really gone down a little, but she denies that there is a bubble. I believe the brokers brainwash the realtors once in a while on how to respond to customers’ questions on RE.
July 16, 2007 at 9:23 AM #65981ParticipantI really hope that the banks will blow up with handful of fixed properties that are not performing.
July 16, 2007 at 9:23 AM #66046ParticipantI really hope that the banks will blow up with handful of fixed properties that are not performing.
July 16, 2007 at 9:53 AM #65991PerryChase
ParticipantGood post waiting_hawk. I miss the humor on your old website.
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