San Diego housing faces 8.5% price reduction

[NotCranky]

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[carlsbadworker]

[quote=HiggyBaby]”Factors weighing on the housing market include chronic high unemployment, the expiration of the homebuyer tax credit that expired in June and the large number of distressed properties that remain in markets, such as Florida, Arizona and Nevada,” the company said.[/quote]

I am surprised that the high existing delinquency rate somehow is not a factor in the price decline?! More than 4.3 million loans are 90 or more days delinquent or in foreclosure at the moment. And according to the statistics before, if you got a loan that is 90 or more days in delinquent, the chances of the borrower ever pay is less than 1%.

Somehow the industry (especially banking industry) can all pretend now that it doesn’t exist. I think they would either have to face up the reality, or the tax payer will have to face an alternative reality that they are going to give out massive loan forgiveness to the borrower with the government footing the bill.

[carlsbadworker]

[quote=HiggyBaby]”Factors weighing on the housing market include chronic high unemployment, the expiration of the homebuyer tax credit that expired in June and the large number of distressed properties that remain in markets, such as Florida, Arizona and Nevada,” the company said.[/quote]

I am surprised that the high existing delinquency rate somehow is not a factor in the price decline?! More than 4.3 million loans are 90 or more days delinquent or in foreclosure at the moment. And according to the statistics before, if you got a loan that is 90 or more days in delinquent, the chances of the borrower ever pay is less than 1%.

Somehow the industry (especially banking industry) can all pretend now that it doesn’t exist. I think they would either have to face up the reality, or the tax payer will have to face an alternative reality that they are going to give out massive loan forgiveness to the borrower with the government footing the bill.

[carlsbadworker]

[quote=HiggyBaby]”Factors weighing on the housing market include chronic high unemployment, the expiration of the homebuyer tax credit that expired in June and the large number of distressed properties that remain in markets, such as Florida, Arizona and Nevada,” the company said.[/quote]

I am surprised that the high existing delinquency rate somehow is not a factor in the price decline?! More than 4.3 million loans are 90 or more days delinquent or in foreclosure at the moment. And according to the statistics before, if you got a loan that is 90 or more days in delinquent, the chances of the borrower ever pay is less than 1%.

Somehow the industry (especially banking industry) can all pretend now that it doesn’t exist. I think they would either have to face up the reality, or the tax payer will have to face an alternative reality that they are going to give out massive loan forgiveness to the borrower with the government footing the bill.

[carlsbadworker]

[quote=HiggyBaby]”Factors weighing on the housing market include chronic high unemployment, the expiration of the homebuyer tax credit that expired in June and the large number of distressed properties that remain in markets, such as Florida, Arizona and Nevada,” the company said.[/quote]

I am surprised that the high existing delinquency rate somehow is not a factor in the price decline?! More than 4.3 million loans are 90 or more days delinquent or in foreclosure at the moment. And according to the statistics before, if you got a loan that is 90 or more days in delinquent, the chances of the borrower ever pay is less than 1%.

Somehow the industry (especially banking industry) can all pretend now that it doesn’t exist. I think they would either have to face up the reality, or the tax payer will have to face an alternative reality that they are going to give out massive loan forgiveness to the borrower with the government footing the bill.

[carlsbadworker]

[quote=HiggyBaby]”Factors weighing on the housing market include chronic high unemployment, the expiration of the homebuyer tax credit that expired in June and the large number of distressed properties that remain in markets, such as Florida, Arizona and Nevada,” the company said.[/quote]

I am surprised that the high existing delinquency rate somehow is not a factor in the price decline?! More than 4.3 million loans are 90 or more days delinquent or in foreclosure at the moment. And according to the statistics before, if you got a loan that is 90 or more days in delinquent, the chances of the borrower ever pay is less than 1%.

Somehow the industry (especially banking industry) can all pretend now that it doesn’t exist. I think they would either have to face up the reality, or the tax payer will have to face an alternative reality that they are going to give out massive loan forgiveness to the borrower with the government footing the bill.

[carlsbadworker]

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[carlsbadworker]

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[carlsbadworker]

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[carlsbadworker]

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[carlsbadworker]

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[poorgradstudent]

Bottoms aren’t usually followed by a straight climb upwards. There are always hiccups.

This would still put 2009 as the true bottom, since an increase of 11.6% followed by a decrease of 7.1% is still a net increase.

You can already see from Rich’s charts that the recovery is sputtering. Still, I don’t see us crashing below that 2009 level, at least in terms of nominal dollars.

[poorgradstudent]

Bottoms aren’t usually followed by a straight climb upwards. There are always hiccups.

This would still put 2009 as the true bottom, since an increase of 11.6% followed by a decrease of 7.1% is still a net increase.

You can already see from Rich’s charts that the recovery is sputtering. Still, I don’t see us crashing below that 2009 level, at least in terms of nominal dollars.

[poorgradstudent]

Bottoms aren’t usually followed by a straight climb upwards. There are always hiccups.

This would still put 2009 as the true bottom, since an increase of 11.6% followed by a decrease of 7.1% is still a net increase.

You can already see from Rich’s charts that the recovery is sputtering. Still, I don’t see us crashing below that 2009 level, at least in terms of nominal dollars.

[poorgradstudent]

Bottoms aren’t usually followed by a straight climb upwards. There are always hiccups.

This would still put 2009 as the true bottom, since an increase of 11.6% followed by a decrease of 7.1% is still a net increase.

You can already see from Rich’s charts that the recovery is sputtering. Still, I don’t see us crashing below that 2009 level, at least in terms of nominal dollars.

[Author]

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