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February 23, 2008 at 10:11 AM #158586February 23, 2008 at 2:39 PM #158367
Multiplepropertyowner
ParticipantLack of equity in your home does not signify underwater. All it means is that that particular asset is in a stagnant position. Underwater is the inability to meet your monetary commitments.
My last property was bought back in July 2007. It is upside down, but I figured this in. I bought it as a 10-15 year hold to hopefully cash in to pay for my 5 year olds college needs. If that does not work out, I will have to keep it as a rental.I thought the piece on the nightly news portrayed it (the 10% of people upside down) in a really bad light. The real issue is, what % of these folks are in financial straights. Seems to me that the media is just feeding on this. Every night this last week Charles Gibson led with a story on the housing market. It is all about the ratings.
February 23, 2008 at 2:39 PM #158660ParticipantLack of equity in your home does not signify underwater. All it means is that that particular asset is in a stagnant position. Underwater is the inability to meet your monetary commitments.
My last property was bought back in July 2007. It is upside down, but I figured this in. I bought it as a 10-15 year hold to hopefully cash in to pay for my 5 year olds college needs. If that does not work out, I will have to keep it as a rental.I thought the piece on the nightly news portrayed it (the 10% of people upside down) in a really bad light. The real issue is, what % of these folks are in financial straights. Seems to me that the media is just feeding on this. Every night this last week Charles Gibson led with a story on the housing market. It is all about the ratings.
February 23, 2008 at 2:39 PM #158669ParticipantLack of equity in your home does not signify underwater. All it means is that that particular asset is in a stagnant position. Underwater is the inability to meet your monetary commitments.
My last property was bought back in July 2007. It is upside down, but I figured this in. I bought it as a 10-15 year hold to hopefully cash in to pay for my 5 year olds college needs. If that does not work out, I will have to keep it as a rental.I thought the piece on the nightly news portrayed it (the 10% of people upside down) in a really bad light. The real issue is, what % of these folks are in financial straights. Seems to me that the media is just feeding on this. Every night this last week Charles Gibson led with a story on the housing market. It is all about the ratings.
February 23, 2008 at 2:39 PM #158677ParticipantLack of equity in your home does not signify underwater. All it means is that that particular asset is in a stagnant position. Underwater is the inability to meet your monetary commitments.
My last property was bought back in July 2007. It is upside down, but I figured this in. I bought it as a 10-15 year hold to hopefully cash in to pay for my 5 year olds college needs. If that does not work out, I will have to keep it as a rental.I thought the piece on the nightly news portrayed it (the 10% of people upside down) in a really bad light. The real issue is, what % of these folks are in financial straights. Seems to me that the media is just feeding on this. Every night this last week Charles Gibson led with a story on the housing market. It is all about the ratings.
February 23, 2008 at 2:39 PM #158751ParticipantLack of equity in your home does not signify underwater. All it means is that that particular asset is in a stagnant position. Underwater is the inability to meet your monetary commitments.
My last property was bought back in July 2007. It is upside down, but I figured this in. I bought it as a 10-15 year hold to hopefully cash in to pay for my 5 year olds college needs. If that does not work out, I will have to keep it as a rental.I thought the piece on the nightly news portrayed it (the 10% of people upside down) in a really bad light. The real issue is, what % of these folks are in financial straights. Seems to me that the media is just feeding on this. Every night this last week Charles Gibson led with a story on the housing market. It is all about the ratings.
February 23, 2008 at 2:48 PM #158377patientlywaiting
ParticipantUnderwater means negative net-worth, when you owe more than your assets are worth.
In this case, we are talking about houses “under water.”
The numbers are staggering. Since most families have nothing of value but their houses and cars, this puts them in a negative networth position. Many will find that filing for bankruptcy is a no brainer.
February 23, 2008 at 2:48 PM #158670ParticipantUnderwater means negative net-worth, when you owe more than your assets are worth.
In this case, we are talking about houses “under water.”
The numbers are staggering. Since most families have nothing of value but their houses and cars, this puts them in a negative networth position. Many will find that filing for bankruptcy is a no brainer.
February 23, 2008 at 2:48 PM #158679ParticipantUnderwater means negative net-worth, when you owe more than your assets are worth.
In this case, we are talking about houses “under water.”
The numbers are staggering. Since most families have nothing of value but their houses and cars, this puts them in a negative networth position. Many will find that filing for bankruptcy is a no brainer.
February 23, 2008 at 2:48 PM #158687ParticipantUnderwater means negative net-worth, when you owe more than your assets are worth.
In this case, we are talking about houses “under water.”
The numbers are staggering. Since most families have nothing of value but their houses and cars, this puts them in a negative networth position. Many will find that filing for bankruptcy is a no brainer.
February 23, 2008 at 2:48 PM #158761ParticipantUnderwater means negative net-worth, when you owe more than your assets are worth.
In this case, we are talking about houses “under water.”
The numbers are staggering. Since most families have nothing of value but their houses and cars, this puts them in a negative networth position. Many will find that filing for bankruptcy is a no brainer.
February 23, 2008 at 2:54 PM #158387kewp
ParticipantIt would be interesting to draw a national map with with the hot spots, and cool areas.
Not quite what you are looking for, but…
The “Map of Misery”
http://www.businessweek.com/common_ssi/map_of_misery.htm
Of course, not everyone with a pay-option-ARM has negative equity. But I would bet the clear majority do.
February 23, 2008 at 2:54 PM #158680ParticipantIt would be interesting to draw a national map with with the hot spots, and cool areas.
Not quite what you are looking for, but…
The “Map of Misery”
http://www.businessweek.com/common_ssi/map_of_misery.htm
Of course, not everyone with a pay-option-ARM has negative equity. But I would bet the clear majority do.
February 23, 2008 at 2:54 PM #158689ParticipantIt would be interesting to draw a national map with with the hot spots, and cool areas.
Not quite what you are looking for, but…
The “Map of Misery”
http://www.businessweek.com/common_ssi/map_of_misery.htm
Of course, not everyone with a pay-option-ARM has negative equity. But I would bet the clear majority do.
February 23, 2008 at 2:54 PM #158697ParticipantIt would be interesting to draw a national map with with the hot spots, and cool areas.
Not quite what you are looking for, but…
The “Map of Misery”
http://www.businessweek.com/common_ssi/map_of_misery.htm
Of course, not everyone with a pay-option-ARM has negative equity. But I would bet the clear majority do.
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