Not even close to a bottom

[jetonejet]

I try to keep my mouth shut at work as I over hear folks talk about how “cheap” the housing market is, as how this must be the bottom, and how its a great time to buy. Then I go read the headlines and read how unemployment is skyrocketing:

http://latimesblogs.latimes.com/money_co/2009/02/california-layo.html

Do people really think foreclosures are going to slow down with these kind of layoffs???

Do people think that this Obama housing fix is going to help the huge wave of Option-arms that are coming? If so, have they seen the details of the bailout that exclude exotic type mortgages ( which California has a huge percentage?)?

I have a hard time understanding peoples logic, because the way I read all the indicators, were heading further down, way down… Am I crazy?

[macromaniac]

Nope, your not crazy, your a realist with no self interest. Home prices are going to go a lot lower and their will be a mass exodus of companies and people out CA especially when they just raised the state income and sales tax….

If you think the residential market caused losses, wait till you see what is happening in the commercial markets right now….the fuse has been lit..

[macromaniac]

Nope, your not crazy, your a realist with no self interest. Home prices are going to go a lot lower and their will be a mass exodus of companies and people out CA especially when they just raised the state income and sales tax….

If you think the residential market caused losses, wait till you see what is happening in the commercial markets right now….the fuse has been lit..

[macromaniac]

Nope, your not crazy, your a realist with no self interest. Home prices are going to go a lot lower and their will be a mass exodus of companies and people out CA especially when they just raised the state income and sales tax….

If you think the residential market caused losses, wait till you see what is happening in the commercial markets right now….the fuse has been lit..

[macromaniac]

Nope, your not crazy, your a realist with no self interest. Home prices are going to go a lot lower and their will be a mass exodus of companies and people out CA especially when they just raised the state income and sales tax….

If you think the residential market caused losses, wait till you see what is happening in the commercial markets right now….the fuse has been lit..

[macromaniac]

Nope, your not crazy, your a realist with no self interest. Home prices are going to go a lot lower and their will be a mass exodus of companies and people out CA especially when they just raised the state income and sales tax….

If you think the residential market caused losses, wait till you see what is happening in the commercial markets right now….the fuse has been lit..

[Huckleberry]

Not only that, the Obama administration today announced a significant reduction in the mortgage interest rate deduction.

This will in no way help stimulate home buying, especially in CA where mortgage interest is higher than anywhere else in the country…

[Huckleberry]

Not only that, the Obama administration today announced a significant reduction in the mortgage interest rate deduction.

This will in no way help stimulate home buying, especially in CA where mortgage interest is higher than anywhere else in the country…

[Huckleberry]

Not only that, the Obama administration today announced a significant reduction in the mortgage interest rate deduction.

This will in no way help stimulate home buying, especially in CA where mortgage interest is higher than anywhere else in the country…

[Huckleberry]

Not only that, the Obama administration today announced a significant reduction in the mortgage interest rate deduction.

This will in no way help stimulate home buying, especially in CA where mortgage interest is higher than anywhere else in the country…

[Huckleberry]

Not only that, the Obama administration today announced a significant reduction in the mortgage interest rate deduction.

This will in no way help stimulate home buying, especially in CA where mortgage interest is higher than anywhere else in the country…

[Lyra]

[quote=Huckleberry]Not only that, the Obama administration today announced a significant reduction in the mortgage interest rate deduction.[/quote]

Do you have a link for that? Thanks.

[Lyra]

[quote=Huckleberry]Not only that, the Obama administration today announced a significant reduction in the mortgage interest rate deduction.[/quote]

Do you have a link for that? Thanks.

[Lyra]

[quote=Huckleberry]Not only that, the Obama administration today announced a significant reduction in the mortgage interest rate deduction.[/quote]

Do you have a link for that? Thanks.

[Lyra]

[quote=Huckleberry]Not only that, the Obama administration today announced a significant reduction in the mortgage interest rate deduction.[/quote]

Do you have a link for that? Thanks.

[Author]

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