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Reality.
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August 19, 2009 at 10:35 AM #447227August 19, 2009 at 10:48 AM #446453
briansd1
Guest[quote=HLS]In the 1980’s, houses that rented for $1000 a month sold for $125,000 +/-,,,,and there wasn’t any shortage of them. What has changed other than foolishness and govt manipulation ??
I was so impressed that this house actually had room for a STACKED washer and dryer. Need to throw out the side by side…they failed to mention that with bunkbeds you this would be comfy for 6-10 occupants.
Was this a 3.50% down FHA buyer ???
Or did someone actually fork over the cash with 20% down that could have bought them a house free and clear elsewhere…[/quote]My feelings exactly!
August 19, 2009 at 10:48 AM #446646Guest[quote=HLS]In the 1980’s, houses that rented for $1000 a month sold for $125,000 +/-,,,,and there wasn’t any shortage of them. What has changed other than foolishness and govt manipulation ??
I was so impressed that this house actually had room for a STACKED washer and dryer. Need to throw out the side by side…they failed to mention that with bunkbeds you this would be comfy for 6-10 occupants.
Was this a 3.50% down FHA buyer ???
Or did someone actually fork over the cash with 20% down that could have bought them a house free and clear elsewhere…[/quote]My feelings exactly!
August 19, 2009 at 10:48 AM #446984Guest[quote=HLS]In the 1980’s, houses that rented for $1000 a month sold for $125,000 +/-,,,,and there wasn’t any shortage of them. What has changed other than foolishness and govt manipulation ??
I was so impressed that this house actually had room for a STACKED washer and dryer. Need to throw out the side by side…they failed to mention that with bunkbeds you this would be comfy for 6-10 occupants.
Was this a 3.50% down FHA buyer ???
Or did someone actually fork over the cash with 20% down that could have bought them a house free and clear elsewhere…[/quote]My feelings exactly!
August 19, 2009 at 10:48 AM #447056Guest[quote=HLS]In the 1980’s, houses that rented for $1000 a month sold for $125,000 +/-,,,,and there wasn’t any shortage of them. What has changed other than foolishness and govt manipulation ??
I was so impressed that this house actually had room for a STACKED washer and dryer. Need to throw out the side by side…they failed to mention that with bunkbeds you this would be comfy for 6-10 occupants.
Was this a 3.50% down FHA buyer ???
Or did someone actually fork over the cash with 20% down that could have bought them a house free and clear elsewhere…[/quote]My feelings exactly!
August 19, 2009 at 10:48 AM #447237Guest[quote=HLS]In the 1980’s, houses that rented for $1000 a month sold for $125,000 +/-,,,,and there wasn’t any shortage of them. What has changed other than foolishness and govt manipulation ??
I was so impressed that this house actually had room for a STACKED washer and dryer. Need to throw out the side by side…they failed to mention that with bunkbeds you this would be comfy for 6-10 occupants.
Was this a 3.50% down FHA buyer ???
Or did someone actually fork over the cash with 20% down that could have bought them a house free and clear elsewhere…[/quote]My feelings exactly!
August 19, 2009 at 11:07 AM #446483blahblahblah
ParticipantWhat has changed other than foolishness and govt manipulation ??
One — interest rates. The prime rate in 1981 was over 20%! Higher rates, lower prices.
Two — the widespread growth of mortgage backed securities, allowing financial institutions to play hot-potato with mortgages.
Three — the repeal of Glass-Steagall, allowing unimaginable levels of chicanery by financial institutions.
That’s the trifecta. And FNMA and FMAC are part of #2 since they offered the first MBS investment products.
The real question is what happens next? Are we headed back to the good old days of local banks writing mortgages for their neighbors and carrying them for the full 30 years? Or are we in for even more market manipulation, government intervation, and financial hooliganism?
I know where I’d put my betting money (if I had any left).
August 19, 2009 at 11:07 AM #446676ParticipantWhat has changed other than foolishness and govt manipulation ??
One — interest rates. The prime rate in 1981 was over 20%! Higher rates, lower prices.
Two — the widespread growth of mortgage backed securities, allowing financial institutions to play hot-potato with mortgages.
Three — the repeal of Glass-Steagall, allowing unimaginable levels of chicanery by financial institutions.
That’s the trifecta. And FNMA and FMAC are part of #2 since they offered the first MBS investment products.
The real question is what happens next? Are we headed back to the good old days of local banks writing mortgages for their neighbors and carrying them for the full 30 years? Or are we in for even more market manipulation, government intervation, and financial hooliganism?
I know where I’d put my betting money (if I had any left).
August 19, 2009 at 11:07 AM #447014ParticipantWhat has changed other than foolishness and govt manipulation ??
One — interest rates. The prime rate in 1981 was over 20%! Higher rates, lower prices.
Two — the widespread growth of mortgage backed securities, allowing financial institutions to play hot-potato with mortgages.
Three — the repeal of Glass-Steagall, allowing unimaginable levels of chicanery by financial institutions.
That’s the trifecta. And FNMA and FMAC are part of #2 since they offered the first MBS investment products.
The real question is what happens next? Are we headed back to the good old days of local banks writing mortgages for their neighbors and carrying them for the full 30 years? Or are we in for even more market manipulation, government intervation, and financial hooliganism?
I know where I’d put my betting money (if I had any left).
August 19, 2009 at 11:07 AM #447087ParticipantWhat has changed other than foolishness and govt manipulation ??
One — interest rates. The prime rate in 1981 was over 20%! Higher rates, lower prices.
Two — the widespread growth of mortgage backed securities, allowing financial institutions to play hot-potato with mortgages.
Three — the repeal of Glass-Steagall, allowing unimaginable levels of chicanery by financial institutions.
That’s the trifecta. And FNMA and FMAC are part of #2 since they offered the first MBS investment products.
The real question is what happens next? Are we headed back to the good old days of local banks writing mortgages for their neighbors and carrying them for the full 30 years? Or are we in for even more market manipulation, government intervation, and financial hooliganism?
I know where I’d put my betting money (if I had any left).
August 19, 2009 at 11:07 AM #447267ParticipantWhat has changed other than foolishness and govt manipulation ??
One — interest rates. The prime rate in 1981 was over 20%! Higher rates, lower prices.
Two — the widespread growth of mortgage backed securities, allowing financial institutions to play hot-potato with mortgages.
Three — the repeal of Glass-Steagall, allowing unimaginable levels of chicanery by financial institutions.
That’s the trifecta. And FNMA and FMAC are part of #2 since they offered the first MBS investment products.
The real question is what happens next? Are we headed back to the good old days of local banks writing mortgages for their neighbors and carrying them for the full 30 years? Or are we in for even more market manipulation, government intervation, and financial hooliganism?
I know where I’d put my betting money (if I had any left).
August 19, 2009 at 11:10 AM #446488moneymaker
ParticipantSouth Park is nice but way over priced. I don’t see many price drops there so I’m guessing people that live there are just hanging in and hoping for a rebound. There are definitely pockets that are nicer than others, I’ve heard vehicle break ins are common, I would pay about half of what they are going/asking today.
August 19, 2009 at 11:10 AM #446680ParticipantSouth Park is nice but way over priced. I don’t see many price drops there so I’m guessing people that live there are just hanging in and hoping for a rebound. There are definitely pockets that are nicer than others, I’ve heard vehicle break ins are common, I would pay about half of what they are going/asking today.
August 19, 2009 at 11:10 AM #447019ParticipantSouth Park is nice but way over priced. I don’t see many price drops there so I’m guessing people that live there are just hanging in and hoping for a rebound. There are definitely pockets that are nicer than others, I’ve heard vehicle break ins are common, I would pay about half of what they are going/asking today.
August 19, 2009 at 11:10 AM #447092ParticipantSouth Park is nice but way over priced. I don’t see many price drops there so I’m guessing people that live there are just hanging in and hoping for a rebound. There are definitely pockets that are nicer than others, I’ve heard vehicle break ins are common, I would pay about half of what they are going/asking today.
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