Just wondering where all the “Bring it on people” are at

[patientlywaiting]

SD Realtor, I just heard on the PBS Newshour that there are now about 4.5 million overdue mortgages NOT owned by Fannie and Freddie. Add Fan/Fred to the mix and what do we have? Double?

The questions that perhaps ought to be asked are:

1) Did the scale of the financial crisis surprise you?

2) Why?

3) Where are the people who poo-pooed dire predictions at now? Why were you so blind to what was staring you in the face?

Even here on Piggington, when the DOW was 14,000, anyone who dared to predict that it would drop to 8,500 would been called a nutcase. That person would have been berated with calls to bring “proof” or, at the very least, a solid analysis. However, at DOW 14,000, predictions of 16,000 would have sounded sensible.

I think that there is a certain Pollyannish way of thinking. People who predict the worse are always vilified and chased away.

Psychologically, humans ignore terrible news and keep on plugging along.

I guess that’s why, in early humanity, people kept on walking out of Africa despite all the hardship and unknowns, in search of a better horizon.

[lonestar2000]

As I commented before (a long, long time ago, in another thread on a similar topic), although there were a couple of mal-contents calling for the resession itself, who don’t speak for the majority, most of us simply wanted a return to the normal level of affordability of housing. Now, if correcting the said cost inbalance requires a resession, then there simply is no other choice, but the balance must return one way or another. The inbalance was simply unsustainable and was a bubble waiting to burst.

Now that it has begun, it is bursting in a big way, and in some ways faster and more dramatically than most of us figured it would, and it certainly is no fun when a job loss or other calamity hist close to home, but if you’re realilstic you’ll agree that this correction is necessary and was inevitable.

So, to the end of restoring the inbalance — I say Bring it On — all the while smirking to myself because it matters not what I say, because the market will correct itself no matter what and there is not a thing that anyone can do about it, just like it has every single time in the past. As big as this inbalance was, so will the correction be…messy and unrelenting in its fury, wreacking everything in its path. Those who are to survive will learn to ride the wave, or get out of its way, because attempting to fight it is utter foolishness.

[lonestar2000]

As I commented before (a long, long time ago, in another thread on a similar topic), although there were a couple of mal-contents calling for the resession itself, who don’t speak for the majority, most of us simply wanted a return to the normal level of affordability of housing. Now, if correcting the said cost inbalance requires a resession, then there simply is no other choice, but the balance must return one way or another. The inbalance was simply unsustainable and was a bubble waiting to burst.

Now that it has begun, it is bursting in a big way, and in some ways faster and more dramatically than most of us figured it would, and it certainly is no fun when a job loss or other calamity hist close to home, but if you’re realilstic you’ll agree that this correction is necessary and was inevitable.

So, to the end of restoring the inbalance — I say Bring it On — all the while smirking to myself because it matters not what I say, because the market will correct itself no matter what and there is not a thing that anyone can do about it, just like it has every single time in the past. As big as this inbalance was, so will the correction be…messy and unrelenting in its fury, wreacking everything in its path. Those who are to survive will learn to ride the wave, or get out of its way, because attempting to fight it is utter foolishness.

[lonestar2000]

As I commented before (a long, long time ago, in another thread on a similar topic), although there were a couple of mal-contents calling for the resession itself, who don’t speak for the majority, most of us simply wanted a return to the normal level of affordability of housing. Now, if correcting the said cost inbalance requires a resession, then there simply is no other choice, but the balance must return one way or another. The inbalance was simply unsustainable and was a bubble waiting to burst.

Now that it has begun, it is bursting in a big way, and in some ways faster and more dramatically than most of us figured it would, and it certainly is no fun when a job loss or other calamity hist close to home, but if you’re realilstic you’ll agree that this correction is necessary and was inevitable.

So, to the end of restoring the inbalance — I say Bring it On — all the while smirking to myself because it matters not what I say, because the market will correct itself no matter what and there is not a thing that anyone can do about it, just like it has every single time in the past. As big as this inbalance was, so will the correction be…messy and unrelenting in its fury, wreacking everything in its path. Those who are to survive will learn to ride the wave, or get out of its way, because attempting to fight it is utter foolishness.

[lonestar2000]

As I commented before (a long, long time ago, in another thread on a similar topic), although there were a couple of mal-contents calling for the resession itself, who don’t speak for the majority, most of us simply wanted a return to the normal level of affordability of housing. Now, if correcting the said cost inbalance requires a resession, then there simply is no other choice, but the balance must return one way or another. The inbalance was simply unsustainable and was a bubble waiting to burst.

Now that it has begun, it is bursting in a big way, and in some ways faster and more dramatically than most of us figured it would, and it certainly is no fun when a job loss or other calamity hist close to home, but if you’re realilstic you’ll agree that this correction is necessary and was inevitable.

So, to the end of restoring the inbalance — I say Bring it On — all the while smirking to myself because it matters not what I say, because the market will correct itself no matter what and there is not a thing that anyone can do about it, just like it has every single time in the past. As big as this inbalance was, so will the correction be…messy and unrelenting in its fury, wreacking everything in its path. Those who are to survive will learn to ride the wave, or get out of its way, because attempting to fight it is utter foolishness.

[lonestar2000]

As I commented before (a long, long time ago, in another thread on a similar topic), although there were a couple of mal-contents calling for the resession itself, who don’t speak for the majority, most of us simply wanted a return to the normal level of affordability of housing. Now, if correcting the said cost inbalance requires a resession, then there simply is no other choice, but the balance must return one way or another. The inbalance was simply unsustainable and was a bubble waiting to burst.

Now that it has begun, it is bursting in a big way, and in some ways faster and more dramatically than most of us figured it would, and it certainly is no fun when a job loss or other calamity hist close to home, but if you’re realilstic you’ll agree that this correction is necessary and was inevitable.

So, to the end of restoring the inbalance — I say Bring it On — all the while smirking to myself because it matters not what I say, because the market will correct itself no matter what and there is not a thing that anyone can do about it, just like it has every single time in the past. As big as this inbalance was, so will the correction be…messy and unrelenting in its fury, wreacking everything in its path. Those who are to survive will learn to ride the wave, or get out of its way, because attempting to fight it is utter foolishness.

[CA renter]

I totally understand where you are coming from, jp.

We’ve been renting for over four years, paying rent in advance and making repairs ourselves, just trying to be model renters so the LL wouldn’t raise our rent.

All this time, the FBs have been living rent-free for many months or years, and now the politicians are crying about how they are “victims” who need to be bailed out.

Yes, it’s absolutely disgusting, and it punishes those who did the right thing in order to “help” those who were trying to scam the system.

This whole bailout nonsense sucks! 🙁

[CA renter]

I totally understand where you are coming from, jp.

We’ve been renting for over four years, paying rent in advance and making repairs ourselves, just trying to be model renters so the LL wouldn’t raise our rent.

All this time, the FBs have been living rent-free for many months or years, and now the politicians are crying about how they are “victims” who need to be bailed out.

Yes, it’s absolutely disgusting, and it punishes those who did the right thing in order to “help” those who were trying to scam the system.

This whole bailout nonsense sucks! 🙁

[CA renter]

I totally understand where you are coming from, jp.

We’ve been renting for over four years, paying rent in advance and making repairs ourselves, just trying to be model renters so the LL wouldn’t raise our rent.

All this time, the FBs have been living rent-free for many months or years, and now the politicians are crying about how they are “victims” who need to be bailed out.

Yes, it’s absolutely disgusting, and it punishes those who did the right thing in order to “help” those who were trying to scam the system.

This whole bailout nonsense sucks! 🙁

[CA renter]

I totally understand where you are coming from, jp.

We’ve been renting for over four years, paying rent in advance and making repairs ourselves, just trying to be model renters so the LL wouldn’t raise our rent.

All this time, the FBs have been living rent-free for many months or years, and now the politicians are crying about how they are “victims” who need to be bailed out.

Yes, it’s absolutely disgusting, and it punishes those who did the right thing in order to “help” those who were trying to scam the system.

This whole bailout nonsense sucks! 🙁

[CA renter]

I totally understand where you are coming from, jp.

We’ve been renting for over four years, paying rent in advance and making repairs ourselves, just trying to be model renters so the LL wouldn’t raise our rent.

All this time, the FBs have been living rent-free for many months or years, and now the politicians are crying about how they are “victims” who need to be bailed out.

Yes, it’s absolutely disgusting, and it punishes those who did the right thing in order to “help” those who were trying to scam the system.

This whole bailout nonsense sucks! 🙁

[SD Realtor]

pr was swamped yesterday and have to take the kids to a bday party this morning. will answer later this afternoon.

ps – I absolutely wish I would have done what you recommended. basically flip homes during the 2003-2005 bubble years with no money down. I didn’t though cuz I kept incorrectly thinking we were at the top of the market each of those years.

what a boob I was!

[SD Realtor]

pr was swamped yesterday and have to take the kids to a bday party this morning. will answer later this afternoon.

ps – I absolutely wish I would have done what you recommended. basically flip homes during the 2003-2005 bubble years with no money down. I didn’t though cuz I kept incorrectly thinking we were at the top of the market each of those years.

what a boob I was!

[SD Realtor]

pr was swamped yesterday and have to take the kids to a bday party this morning. will answer later this afternoon.

ps – I absolutely wish I would have done what you recommended. basically flip homes during the 2003-2005 bubble years with no money down. I didn’t though cuz I kept incorrectly thinking we were at the top of the market each of those years.

what a boob I was!

[SD Realtor]

pr was swamped yesterday and have to take the kids to a bday party this morning. will answer later this afternoon.

ps – I absolutely wish I would have done what you recommended. basically flip homes during the 2003-2005 bubble years with no money down. I didn’t though cuz I kept incorrectly thinking we were at the top of the market each of those years.

what a boob I was!

[Author]

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