Report shows strategic defaults increasing

[briansd1]

[quote=CA renter]
4. Those who believe the crisis has been averted are not looking far enough into the future. We will be paying for this for **decades** because there is NO WAY we can pay for all of this without tremendously burdensome taxes and reduced services, in addition to greatly reduced purchasing power, domestically and globally. [/quote]

I believe that they will declare victory when growth returns.

The can is kicked down the road and they’ll call it the next crisis rather the continuation of the same crisis.

Considering this future that we are facing, do you think that there is some urgency to buy a house now before prices go up and inventory dwindles?

[CA renter]

[quote=briansd1]

Considering this future that we are facing, do you think that there is some urgency to buy a house now before prices go up and inventory dwindles?[/quote]

Personally, I don’t think home prices will go up, and I certainly don’t think inventorty will dwindle further. Quite the opposite.

While there will be some stiff competition from foreigners with cash (already happening), I think home prices will be stagnant/slowly declining for many, many years. IMHO, it’s the rising price of everything else — that’s NOT credit-based — that will strip us of our purchasing power and quality of life.

Get ready for the global rebalancing (IMHO).

[CA renter]

[quote=briansd1]

Considering this future that we are facing, do you think that there is some urgency to buy a house now before prices go up and inventory dwindles?[/quote]

Personally, I don’t think home prices will go up, and I certainly don’t think inventorty will dwindle further. Quite the opposite.

While there will be some stiff competition from foreigners with cash (already happening), I think home prices will be stagnant/slowly declining for many, many years. IMHO, it’s the rising price of everything else — that’s NOT credit-based — that will strip us of our purchasing power and quality of life.

Get ready for the global rebalancing (IMHO).

[CA renter]

[quote=briansd1]

Considering this future that we are facing, do you think that there is some urgency to buy a house now before prices go up and inventory dwindles?[/quote]

Personally, I don’t think home prices will go up, and I certainly don’t think inventorty will dwindle further. Quite the opposite.

While there will be some stiff competition from foreigners with cash (already happening), I think home prices will be stagnant/slowly declining for many, many years. IMHO, it’s the rising price of everything else — that’s NOT credit-based — that will strip us of our purchasing power and quality of life.

Get ready for the global rebalancing (IMHO).

[CA renter]

[quote=briansd1]

Considering this future that we are facing, do you think that there is some urgency to buy a house now before prices go up and inventory dwindles?[/quote]

Personally, I don’t think home prices will go up, and I certainly don’t think inventorty will dwindle further. Quite the opposite.

While there will be some stiff competition from foreigners with cash (already happening), I think home prices will be stagnant/slowly declining for many, many years. IMHO, it’s the rising price of everything else — that’s NOT credit-based — that will strip us of our purchasing power and quality of life.

Get ready for the global rebalancing (IMHO).

[CA renter]

[quote=briansd1]

Considering this future that we are facing, do you think that there is some urgency to buy a house now before prices go up and inventory dwindles?[/quote]

Personally, I don’t think home prices will go up, and I certainly don’t think inventorty will dwindle further. Quite the opposite.

While there will be some stiff competition from foreigners with cash (already happening), I think home prices will be stagnant/slowly declining for many, many years. IMHO, it’s the rising price of everything else — that’s NOT credit-based — that will strip us of our purchasing power and quality of life.

Get ready for the global rebalancing (IMHO).

[Anonymous]

[quote=CA renter][quote=BillS78][quote=SD Realtor]Yes they are living for free. Just remember you are paying for them. As will everyone else in your family who pays federal taxes. So each deadbeat that lives for free sucks money away from all the social programs that you feel are essential to our country.[/quote]No one is paying federal taxes for me, they are paying for the banking and lending industries that make your completely worthless profession possible. You are the real leech in this scenario, the bailout money and HAMP are your livelihood.[/quote]

Bill,

You’ve been here for one day, yet you’ve managed to badmouth one of our valuable, long-time posters. Not cool.[/quote]Ca renter you are speaking to the wrong person. SDrealtor started with the insults calling me deadbeat and throwing around his high and mighty morality of what others should do.

He’s a hypocrite to criticize anyone’s RE decision when he was profiting off a skyrocketing bubble market created by irresponsible monetary policy. I’m sure he had no problem making great commissions on over inflated RE and now he wants to tell us what to do. Forget it.

[Anonymous]

[quote=CA renter][quote=BillS78][quote=SD Realtor]Yes they are living for free. Just remember you are paying for them. As will everyone else in your family who pays federal taxes. So each deadbeat that lives for free sucks money away from all the social programs that you feel are essential to our country.[/quote]No one is paying federal taxes for me, they are paying for the banking and lending industries that make your completely worthless profession possible. You are the real leech in this scenario, the bailout money and HAMP are your livelihood.[/quote]

Bill,

You’ve been here for one day, yet you’ve managed to badmouth one of our valuable, long-time posters. Not cool.[/quote]Ca renter you are speaking to the wrong person. SDrealtor started with the insults calling me deadbeat and throwing around his high and mighty morality of what others should do.

He’s a hypocrite to criticize anyone’s RE decision when he was profiting off a skyrocketing bubble market created by irresponsible monetary policy. I’m sure he had no problem making great commissions on over inflated RE and now he wants to tell us what to do. Forget it.

[Anonymous]

[quote=CA renter][quote=BillS78][quote=SD Realtor]Yes they are living for free. Just remember you are paying for them. As will everyone else in your family who pays federal taxes. So each deadbeat that lives for free sucks money away from all the social programs that you feel are essential to our country.[/quote]No one is paying federal taxes for me, they are paying for the banking and lending industries that make your completely worthless profession possible. You are the real leech in this scenario, the bailout money and HAMP are your livelihood.[/quote]

Bill,

You’ve been here for one day, yet you’ve managed to badmouth one of our valuable, long-time posters. Not cool.[/quote]Ca renter you are speaking to the wrong person. SDrealtor started with the insults calling me deadbeat and throwing around his high and mighty morality of what others should do.

He’s a hypocrite to criticize anyone’s RE decision when he was profiting off a skyrocketing bubble market created by irresponsible monetary policy. I’m sure he had no problem making great commissions on over inflated RE and now he wants to tell us what to do. Forget it.

[Anonymous]

[quote=CA renter][quote=BillS78][quote=SD Realtor]Yes they are living for free. Just remember you are paying for them. As will everyone else in your family who pays federal taxes. So each deadbeat that lives for free sucks money away from all the social programs that you feel are essential to our country.[/quote]No one is paying federal taxes for me, they are paying for the banking and lending industries that make your completely worthless profession possible. You are the real leech in this scenario, the bailout money and HAMP are your livelihood.[/quote]

Bill,

You’ve been here for one day, yet you’ve managed to badmouth one of our valuable, long-time posters. Not cool.[/quote]Ca renter you are speaking to the wrong person. SDrealtor started with the insults calling me deadbeat and throwing around his high and mighty morality of what others should do.

He’s a hypocrite to criticize anyone’s RE decision when he was profiting off a skyrocketing bubble market created by irresponsible monetary policy. I’m sure he had no problem making great commissions on over inflated RE and now he wants to tell us what to do. Forget it.

[Anonymous]

[quote=CA renter][quote=BillS78][quote=SD Realtor]Yes they are living for free. Just remember you are paying for them. As will everyone else in your family who pays federal taxes. So each deadbeat that lives for free sucks money away from all the social programs that you feel are essential to our country.[/quote]No one is paying federal taxes for me, they are paying for the banking and lending industries that make your completely worthless profession possible. You are the real leech in this scenario, the bailout money and HAMP are your livelihood.[/quote]

Bill,

You’ve been here for one day, yet you’ve managed to badmouth one of our valuable, long-time posters. Not cool.[/quote]Ca renter you are speaking to the wrong person. SDrealtor started with the insults calling me deadbeat and throwing around his high and mighty morality of what others should do.

He’s a hypocrite to criticize anyone’s RE decision when he was profiting off a skyrocketing bubble market created by irresponsible monetary policy. I’m sure he had no problem making great commissions on over inflated RE and now he wants to tell us what to do. Forget it.

[SD Realtor]

Sorry Bill I didn’t force anyone to do anything. While I was running an engineering group I also owned a real estate brokerage. I told every client I had that I wouldn’t have bought and they still did. You see, they don’t blame others for their own mistakes.

Bill let me ask you a few questions…

Have you ever bought a car? If so then you knew the minute you drove off the lot the car was instantly worth less then the value of when you bought it. So did you stop making payments on that car? Now answer honestly Bill…

Second, when you bought the home, did you feel that the value would always go up Bill? Did you consider that the value may go down?

Third, Bill did someone force you to sign the loan documents? Were you coerced into signing?

Fourth, Bill do you know of any asset or stock or anything else where the value goes perpetually up all the time and forever?

Fifth, Bill did you stop making payments because of a hardship? Did you lose your job? Did you suffer some medical hardship? Were you defrauded by somebody? Did something happen to you that severely reduced your cash flow? Can you explain exactly why you stopped paying?

Sixth, Bill it is okay you stopped paying. However why didn’t you simply move out? If you said well the asset is depreciating so I am done with it, why didn’t you simply mail in the keys and move out?

So Bill you can call me whatever you want. I can write code, design ASICs, run engineering groups, I can sell real estate, lead teams of investors, and basically do whatever I want. When I make a bad decision financially, I live up to my obligation whether it is selling a property and taking a loss, or selling a stock or doing whatever needs to be done.

You on the other hand can tell us all why you should live for free when the rest of us either pay rent or pay a mortgage. You can hand over your keys and move out, but you choose not to. Why you do this, I don’t know? More then likely you feel entitled to live for free. You feel like you have given the bank all this money. That it is the banks fault, that it is the real estate industry’s fault. Right Bill? It is definitely someone elses fault that you signed the loan docs, so you Bill should get to live for free correct?

I am listening. Just give me a good reason why you should live for free? Why should any of us pay our mortgage? We all have suffered depreciation as well. See, if you wanna walk on your loan walk on your loan, no harm done, mail in the keys and go rent an apartment.

[SD Realtor]

Sorry Bill I didn’t force anyone to do anything. While I was running an engineering group I also owned a real estate brokerage. I told every client I had that I wouldn’t have bought and they still did. You see, they don’t blame others for their own mistakes.

Bill let me ask you a few questions…

Have you ever bought a car? If so then you knew the minute you drove off the lot the car was instantly worth less then the value of when you bought it. So did you stop making payments on that car? Now answer honestly Bill…

Second, when you bought the home, did you feel that the value would always go up Bill? Did you consider that the value may go down?

Third, Bill did someone force you to sign the loan documents? Were you coerced into signing?

Fourth, Bill do you know of any asset or stock or anything else where the value goes perpetually up all the time and forever?

Fifth, Bill did you stop making payments because of a hardship? Did you lose your job? Did you suffer some medical hardship? Were you defrauded by somebody? Did something happen to you that severely reduced your cash flow? Can you explain exactly why you stopped paying?

Sixth, Bill it is okay you stopped paying. However why didn’t you simply move out? If you said well the asset is depreciating so I am done with it, why didn’t you simply mail in the keys and move out?

So Bill you can call me whatever you want. I can write code, design ASICs, run engineering groups, I can sell real estate, lead teams of investors, and basically do whatever I want. When I make a bad decision financially, I live up to my obligation whether it is selling a property and taking a loss, or selling a stock or doing whatever needs to be done.

You on the other hand can tell us all why you should live for free when the rest of us either pay rent or pay a mortgage. You can hand over your keys and move out, but you choose not to. Why you do this, I don’t know? More then likely you feel entitled to live for free. You feel like you have given the bank all this money. That it is the banks fault, that it is the real estate industry’s fault. Right Bill? It is definitely someone elses fault that you signed the loan docs, so you Bill should get to live for free correct?

I am listening. Just give me a good reason why you should live for free? Why should any of us pay our mortgage? We all have suffered depreciation as well. See, if you wanna walk on your loan walk on your loan, no harm done, mail in the keys and go rent an apartment.

[SD Realtor]

Sorry Bill I didn’t force anyone to do anything. While I was running an engineering group I also owned a real estate brokerage. I told every client I had that I wouldn’t have bought and they still did. You see, they don’t blame others for their own mistakes.

Bill let me ask you a few questions…

Have you ever bought a car? If so then you knew the minute you drove off the lot the car was instantly worth less then the value of when you bought it. So did you stop making payments on that car? Now answer honestly Bill…

Second, when you bought the home, did you feel that the value would always go up Bill? Did you consider that the value may go down?

Third, Bill did someone force you to sign the loan documents? Were you coerced into signing?

Fourth, Bill do you know of any asset or stock or anything else where the value goes perpetually up all the time and forever?

Fifth, Bill did you stop making payments because of a hardship? Did you lose your job? Did you suffer some medical hardship? Were you defrauded by somebody? Did something happen to you that severely reduced your cash flow? Can you explain exactly why you stopped paying?

Sixth, Bill it is okay you stopped paying. However why didn’t you simply move out? If you said well the asset is depreciating so I am done with it, why didn’t you simply mail in the keys and move out?

So Bill you can call me whatever you want. I can write code, design ASICs, run engineering groups, I can sell real estate, lead teams of investors, and basically do whatever I want. When I make a bad decision financially, I live up to my obligation whether it is selling a property and taking a loss, or selling a stock or doing whatever needs to be done.

You on the other hand can tell us all why you should live for free when the rest of us either pay rent or pay a mortgage. You can hand over your keys and move out, but you choose not to. Why you do this, I don’t know? More then likely you feel entitled to live for free. You feel like you have given the bank all this money. That it is the banks fault, that it is the real estate industry’s fault. Right Bill? It is definitely someone elses fault that you signed the loan docs, so you Bill should get to live for free correct?

I am listening. Just give me a good reason why you should live for free? Why should any of us pay our mortgage? We all have suffered depreciation as well. See, if you wanna walk on your loan walk on your loan, no harm done, mail in the keys and go rent an apartment.

[SD Realtor]

Sorry Bill I didn’t force anyone to do anything. While I was running an engineering group I also owned a real estate brokerage. I told every client I had that I wouldn’t have bought and they still did. You see, they don’t blame others for their own mistakes.

Bill let me ask you a few questions…

Have you ever bought a car? If so then you knew the minute you drove off the lot the car was instantly worth less then the value of when you bought it. So did you stop making payments on that car? Now answer honestly Bill…

Second, when you bought the home, did you feel that the value would always go up Bill? Did you consider that the value may go down?

Third, Bill did someone force you to sign the loan documents? Were you coerced into signing?

Fourth, Bill do you know of any asset or stock or anything else where the value goes perpetually up all the time and forever?

Fifth, Bill did you stop making payments because of a hardship? Did you lose your job? Did you suffer some medical hardship? Were you defrauded by somebody? Did something happen to you that severely reduced your cash flow? Can you explain exactly why you stopped paying?

Sixth, Bill it is okay you stopped paying. However why didn’t you simply move out? If you said well the asset is depreciating so I am done with it, why didn’t you simply mail in the keys and move out?

So Bill you can call me whatever you want. I can write code, design ASICs, run engineering groups, I can sell real estate, lead teams of investors, and basically do whatever I want. When I make a bad decision financially, I live up to my obligation whether it is selling a property and taking a loss, or selling a stock or doing whatever needs to be done.

You on the other hand can tell us all why you should live for free when the rest of us either pay rent or pay a mortgage. You can hand over your keys and move out, but you choose not to. Why you do this, I don’t know? More then likely you feel entitled to live for free. You feel like you have given the bank all this money. That it is the banks fault, that it is the real estate industry’s fault. Right Bill? It is definitely someone elses fault that you signed the loan docs, so you Bill should get to live for free correct?

I am listening. Just give me a good reason why you should live for free? Why should any of us pay our mortgage? We all have suffered depreciation as well. See, if you wanna walk on your loan walk on your loan, no harm done, mail in the keys and go rent an apartment.

[Author]

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