Mortgage modifications fail to stop defaults

[paramount]

(3) generations under one roof may be problematic and less than ideal, but it beats the streets.

I am thankful that previous generations were more frugal – many I’m sure lived through the depression. Otherwise, a lot more families would not have any roof over their heads.

[CA renter]

[quote=UCGal]And in the 1930’s a lot of people with large houses rented out rooms in them for income.

I just spent the weekend reading my grandmother’s diary from 1931-1933. It has her moving from a boarding house room, to a 3 room flat that was the top floor of a house (the owners lived downstairs). Jobs were tight, my grandfather was on the road for work much of the time…

It had a deja vu feeling to it. Mind you, my grandparents were both college educated and came from upper middle class to wealthy backgrounds.

If you don’t have enough income – you rent out rooms. If you don’t have enough income, you downsize your living accomodations.

I did a google map/street view of the places she rented – most are back to single family residences. But during the depression – they were boarding houses.[/quote]

Great story, UCGal. Must be awesome to have your grandmother’s diary from that era. There is nothing better than to learn about history by reading/hearing directly from the people who lived through it.

Personally, I like the idea of living with multiple generations, if the houses are designed for it. We’d like to do that ourselves.

[CA renter]

[quote=UCGal]And in the 1930’s a lot of people with large houses rented out rooms in them for income.

I just spent the weekend reading my grandmother’s diary from 1931-1933. It has her moving from a boarding house room, to a 3 room flat that was the top floor of a house (the owners lived downstairs). Jobs were tight, my grandfather was on the road for work much of the time…

It had a deja vu feeling to it. Mind you, my grandparents were both college educated and came from upper middle class to wealthy backgrounds.

If you don’t have enough income – you rent out rooms. If you don’t have enough income, you downsize your living accomodations.

I did a google map/street view of the places she rented – most are back to single family residences. But during the depression – they were boarding houses.[/quote]

Great story, UCGal. Must be awesome to have your grandmother’s diary from that era. There is nothing better than to learn about history by reading/hearing directly from the people who lived through it.

Personally, I like the idea of living with multiple generations, if the houses are designed for it. We’d like to do that ourselves.

[CA renter]

[quote=UCGal]And in the 1930’s a lot of people with large houses rented out rooms in them for income.

I just spent the weekend reading my grandmother’s diary from 1931-1933. It has her moving from a boarding house room, to a 3 room flat that was the top floor of a house (the owners lived downstairs). Jobs were tight, my grandfather was on the road for work much of the time…

It had a deja vu feeling to it. Mind you, my grandparents were both college educated and came from upper middle class to wealthy backgrounds.

If you don’t have enough income – you rent out rooms. If you don’t have enough income, you downsize your living accomodations.

I did a google map/street view of the places she rented – most are back to single family residences. But during the depression – they were boarding houses.[/quote]

Great story, UCGal. Must be awesome to have your grandmother’s diary from that era. There is nothing better than to learn about history by reading/hearing directly from the people who lived through it.

Personally, I like the idea of living with multiple generations, if the houses are designed for it. We’d like to do that ourselves.

[CA renter]

[quote=UCGal]And in the 1930’s a lot of people with large houses rented out rooms in them for income.

I just spent the weekend reading my grandmother’s diary from 1931-1933. It has her moving from a boarding house room, to a 3 room flat that was the top floor of a house (the owners lived downstairs). Jobs were tight, my grandfather was on the road for work much of the time…

It had a deja vu feeling to it. Mind you, my grandparents were both college educated and came from upper middle class to wealthy backgrounds.

If you don’t have enough income – you rent out rooms. If you don’t have enough income, you downsize your living accomodations.

I did a google map/street view of the places she rented – most are back to single family residences. But during the depression – they were boarding houses.[/quote]

Great story, UCGal. Must be awesome to have your grandmother’s diary from that era. There is nothing better than to learn about history by reading/hearing directly from the people who lived through it.

Personally, I like the idea of living with multiple generations, if the houses are designed for it. We’d like to do that ourselves.

[CA renter]

[quote=UCGal]And in the 1930’s a lot of people with large houses rented out rooms in them for income.

I just spent the weekend reading my grandmother’s diary from 1931-1933. It has her moving from a boarding house room, to a 3 room flat that was the top floor of a house (the owners lived downstairs). Jobs were tight, my grandfather was on the road for work much of the time…

It had a deja vu feeling to it. Mind you, my grandparents were both college educated and came from upper middle class to wealthy backgrounds.

If you don’t have enough income – you rent out rooms. If you don’t have enough income, you downsize your living accomodations.

I did a google map/street view of the places she rented – most are back to single family residences. But during the depression – they were boarding houses.[/quote]

Great story, UCGal. Must be awesome to have your grandmother’s diary from that era. There is nothing better than to learn about history by reading/hearing directly from the people who lived through it.

Personally, I like the idea of living with multiple generations, if the houses are designed for it. We’d like to do that ourselves.

[Nor-LA-SD-guy]

[quote=DWCAP]population growth also only helps spur housing demand if density per household is holding or falling. If density is increasing, then it doesnt necessarly have to lead to more demand.

I dont know if that is happening now on a macro level or not, but one of the most often cited reasons for the falling rents we are seeing now is that people are grouping up to save. Kids move in with mom and dad, get a roommate, move into minidorm style living, people let out rooms, convert the garage etc. etc. hell people arent even getting divorced like they use to, all leading to atleast a temporary reduction in housing demand that I see no reason couldnt last for 1-2 years at a minimum. (rent contracts are for a year…)

Cutting your housing expenses by 20%+ can really make a difference in the monthly budget, alot more than not buying coffee at starbucks (unless you are some kinda junky:) ) so it just kinda makes sense. [/quote]

While I can see a temporary reduction in housing demand, It is not something that will last over the longer term, (heck I think in 2007 it was that we had the largest baby boom ever in the U.S. even larger than any that created the boomer generation).

So at current housing production there will start to be a rather large demand build up in 5-10 years unless the builders start building again, but that would require a profit to be made. Maybe not so much an issue in most of SD, but in T.V. and surrounds I think that would require a good size spike from current levels.

[Nor-LA-SD-guy]

[quote=DWCAP]population growth also only helps spur housing demand if density per household is holding or falling. If density is increasing, then it doesnt necessarly have to lead to more demand.

I dont know if that is happening now on a macro level or not, but one of the most often cited reasons for the falling rents we are seeing now is that people are grouping up to save. Kids move in with mom and dad, get a roommate, move into minidorm style living, people let out rooms, convert the garage etc. etc. hell people arent even getting divorced like they use to, all leading to atleast a temporary reduction in housing demand that I see no reason couldnt last for 1-2 years at a minimum. (rent contracts are for a year…)

Cutting your housing expenses by 20%+ can really make a difference in the monthly budget, alot more than not buying coffee at starbucks (unless you are some kinda junky:) ) so it just kinda makes sense. [/quote]

While I can see a temporary reduction in housing demand, It is not something that will last over the longer term, (heck I think in 2007 it was that we had the largest baby boom ever in the U.S. even larger than any that created the boomer generation).

So at current housing production there will start to be a rather large demand build up in 5-10 years unless the builders start building again, but that would require a profit to be made. Maybe not so much an issue in most of SD, but in T.V. and surrounds I think that would require a good size spike from current levels.

[Nor-LA-SD-guy]

[quote=DWCAP]population growth also only helps spur housing demand if density per household is holding or falling. If density is increasing, then it doesnt necessarly have to lead to more demand.

I dont know if that is happening now on a macro level or not, but one of the most often cited reasons for the falling rents we are seeing now is that people are grouping up to save. Kids move in with mom and dad, get a roommate, move into minidorm style living, people let out rooms, convert the garage etc. etc. hell people arent even getting divorced like they use to, all leading to atleast a temporary reduction in housing demand that I see no reason couldnt last for 1-2 years at a minimum. (rent contracts are for a year…)

Cutting your housing expenses by 20%+ can really make a difference in the monthly budget, alot more than not buying coffee at starbucks (unless you are some kinda junky:) ) so it just kinda makes sense. [/quote]

While I can see a temporary reduction in housing demand, It is not something that will last over the longer term, (heck I think in 2007 it was that we had the largest baby boom ever in the U.S. even larger than any that created the boomer generation).

So at current housing production there will start to be a rather large demand build up in 5-10 years unless the builders start building again, but that would require a profit to be made. Maybe not so much an issue in most of SD, but in T.V. and surrounds I think that would require a good size spike from current levels.

[Nor-LA-SD-guy]

[quote=DWCAP]population growth also only helps spur housing demand if density per household is holding or falling. If density is increasing, then it doesnt necessarly have to lead to more demand.

I dont know if that is happening now on a macro level or not, but one of the most often cited reasons for the falling rents we are seeing now is that people are grouping up to save. Kids move in with mom and dad, get a roommate, move into minidorm style living, people let out rooms, convert the garage etc. etc. hell people arent even getting divorced like they use to, all leading to atleast a temporary reduction in housing demand that I see no reason couldnt last for 1-2 years at a minimum. (rent contracts are for a year…)

Cutting your housing expenses by 20%+ can really make a difference in the monthly budget, alot more than not buying coffee at starbucks (unless you are some kinda junky:) ) so it just kinda makes sense. [/quote]

While I can see a temporary reduction in housing demand, It is not something that will last over the longer term, (heck I think in 2007 it was that we had the largest baby boom ever in the U.S. even larger than any that created the boomer generation).

So at current housing production there will start to be a rather large demand build up in 5-10 years unless the builders start building again, but that would require a profit to be made. Maybe not so much an issue in most of SD, but in T.V. and surrounds I think that would require a good size spike from current levels.

[Nor-LA-SD-guy]

[quote=DWCAP]population growth also only helps spur housing demand if density per household is holding or falling. If density is increasing, then it doesnt necessarly have to lead to more demand.

I dont know if that is happening now on a macro level or not, but one of the most often cited reasons for the falling rents we are seeing now is that people are grouping up to save. Kids move in with mom and dad, get a roommate, move into minidorm style living, people let out rooms, convert the garage etc. etc. hell people arent even getting divorced like they use to, all leading to atleast a temporary reduction in housing demand that I see no reason couldnt last for 1-2 years at a minimum. (rent contracts are for a year…)

Cutting your housing expenses by 20%+ can really make a difference in the monthly budget, alot more than not buying coffee at starbucks (unless you are some kinda junky:) ) so it just kinda makes sense. [/quote]

While I can see a temporary reduction in housing demand, It is not something that will last over the longer term, (heck I think in 2007 it was that we had the largest baby boom ever in the U.S. even larger than any that created the boomer generation).

So at current housing production there will start to be a rather large demand build up in 5-10 years unless the builders start building again, but that would require a profit to be made. Maybe not so much an issue in most of SD, but in T.V. and surrounds I think that would require a good size spike from current levels.

[Casca]

My mother shared our home with our young children for the last ten years of her life. I can’t think of a better living situation than having three generations under one roof. Our modern culture is the anomaly.

[Casca]

My mother shared our home with our young children for the last ten years of her life. I can’t think of a better living situation than having three generations under one roof. Our modern culture is the anomaly.

[Casca]

My mother shared our home with our young children for the last ten years of her life. I can’t think of a better living situation than having three generations under one roof. Our modern culture is the anomaly.

[Casca]

My mother shared our home with our young children for the last ten years of her life. I can’t think of a better living situation than having three generations under one roof. Our modern culture is the anomaly.

[Author]

Posts