Seeking the opinion of the buyers out there.

[briansd1]

[quote=AN]People who are like you and don’t like to fix up your house, I see it pretty run down, but they’re still living in there. So they probably don’t spend that much time and $. Others, like me, love to modify/remodel our homes. It’s a joy/hobby. Hobby cost money, but it’s fun and fulfilling. I guess you’ll never understand that. [/quote]

People who live in run-down houses are not spending any money on maintenance now. But they’ll spend money on maintenance later, or they will pay it in lost equity.

I see house maintenance, painting, etc. as work. Work can be fulfilling and enjoyable. But I’d rather make money at it than spend money on it.

To each his own.

[Rt.66]

Lot’s of good answers. Already I’ve learned some things I’ve not really considered lately.

I did not start this thread to flame those who are buying. The forum seemed a little slow so I thought this would get comments, and we all could learn some things.

Car talk and job creation is fun and timely but not the only thing worth talking about.

I read the news everyday (yes, mostly a waste of time). I don’t seek out bad news, it’s just what is out there. From reading (possibly too much) it seems we are certainly just at the start of this recession/depression.

Who could argue with someone saying they are buying because its what they want, they can afford it and they don’t care if prices go down another 20%? And yes, a home is different than a house sometimes, and that can make all the difference.

So no one is thinking that we will see an RTC2 type event? Is there any other choice to get these REOs and bad loans off the banks books?

I’ve read stories of people who bought at RTC1 auctions; absolute Gov. auctions ala-RTC are a far cry from REDC reserve auctions.

Does anyone disagree that the banks are insolvant?

[Rt.66]

Lot’s of good answers. Already I’ve learned some things I’ve not really considered lately.

I did not start this thread to flame those who are buying. The forum seemed a little slow so I thought this would get comments, and we all could learn some things.

Car talk and job creation is fun and timely but not the only thing worth talking about.

I read the news everyday (yes, mostly a waste of time). I don’t seek out bad news, it’s just what is out there. From reading (possibly too much) it seems we are certainly just at the start of this recession/depression.

Who could argue with someone saying they are buying because its what they want, they can afford it and they don’t care if prices go down another 20%? And yes, a home is different than a house sometimes, and that can make all the difference.

So no one is thinking that we will see an RTC2 type event? Is there any other choice to get these REOs and bad loans off the banks books?

I’ve read stories of people who bought at RTC1 auctions; absolute Gov. auctions ala-RTC are a far cry from REDC reserve auctions.

Does anyone disagree that the banks are insolvant?

[Rt.66]

Lot’s of good answers. Already I’ve learned some things I’ve not really considered lately.

I did not start this thread to flame those who are buying. The forum seemed a little slow so I thought this would get comments, and we all could learn some things.

Car talk and job creation is fun and timely but not the only thing worth talking about.

I read the news everyday (yes, mostly a waste of time). I don’t seek out bad news, it’s just what is out there. From reading (possibly too much) it seems we are certainly just at the start of this recession/depression.

Who could argue with someone saying they are buying because its what they want, they can afford it and they don’t care if prices go down another 20%? And yes, a home is different than a house sometimes, and that can make all the difference.

So no one is thinking that we will see an RTC2 type event? Is there any other choice to get these REOs and bad loans off the banks books?

I’ve read stories of people who bought at RTC1 auctions; absolute Gov. auctions ala-RTC are a far cry from REDC reserve auctions.

Does anyone disagree that the banks are insolvant?

[Rt.66]

Lot’s of good answers. Already I’ve learned some things I’ve not really considered lately.

I did not start this thread to flame those who are buying. The forum seemed a little slow so I thought this would get comments, and we all could learn some things.

Car talk and job creation is fun and timely but not the only thing worth talking about.

I read the news everyday (yes, mostly a waste of time). I don’t seek out bad news, it’s just what is out there. From reading (possibly too much) it seems we are certainly just at the start of this recession/depression.

Who could argue with someone saying they are buying because its what they want, they can afford it and they don’t care if prices go down another 20%? And yes, a home is different than a house sometimes, and that can make all the difference.

So no one is thinking that we will see an RTC2 type event? Is there any other choice to get these REOs and bad loans off the banks books?

I’ve read stories of people who bought at RTC1 auctions; absolute Gov. auctions ala-RTC are a far cry from REDC reserve auctions.

Does anyone disagree that the banks are insolvant?

[Rt.66]

Lot’s of good answers. Already I’ve learned some things I’ve not really considered lately.

I did not start this thread to flame those who are buying. The forum seemed a little slow so I thought this would get comments, and we all could learn some things.

Car talk and job creation is fun and timely but not the only thing worth talking about.

I read the news everyday (yes, mostly a waste of time). I don’t seek out bad news, it’s just what is out there. From reading (possibly too much) it seems we are certainly just at the start of this recession/depression.

Who could argue with someone saying they are buying because its what they want, they can afford it and they don’t care if prices go down another 20%? And yes, a home is different than a house sometimes, and that can make all the difference.

So no one is thinking that we will see an RTC2 type event? Is there any other choice to get these REOs and bad loans off the banks books?

I’ve read stories of people who bought at RTC1 auctions; absolute Gov. auctions ala-RTC are a far cry from REDC reserve auctions.

Does anyone disagree that the banks are insolvant?

[briansd1]

rt.66, back in the 1990s, RTC mostly for commercial properties and residential development tracks.

Homeowners were underwater but they could give up a new car and still make it.

Back then, the national real estate market was still solid.

This time, it’s much worse. Homeowners are losing hundreds of thousands. They can’t recover from that.

The commercial real estate market is imploding. I expect some kind of RTC2 for commercial RE.

[briansd1]

rt.66, back in the 1990s, RTC mostly for commercial properties and residential development tracks.

Homeowners were underwater but they could give up a new car and still make it.

Back then, the national real estate market was still solid.

This time, it’s much worse. Homeowners are losing hundreds of thousands. They can’t recover from that.

The commercial real estate market is imploding. I expect some kind of RTC2 for commercial RE.

[briansd1]

rt.66, back in the 1990s, RTC mostly for commercial properties and residential development tracks.

Homeowners were underwater but they could give up a new car and still make it.

Back then, the national real estate market was still solid.

This time, it’s much worse. Homeowners are losing hundreds of thousands. They can’t recover from that.

The commercial real estate market is imploding. I expect some kind of RTC2 for commercial RE.

[briansd1]

rt.66, back in the 1990s, RTC mostly for commercial properties and residential development tracks.

Homeowners were underwater but they could give up a new car and still make it.

Back then, the national real estate market was still solid.

This time, it’s much worse. Homeowners are losing hundreds of thousands. They can’t recover from that.

The commercial real estate market is imploding. I expect some kind of RTC2 for commercial RE.

[briansd1]

rt.66, back in the 1990s, RTC mostly for commercial properties and residential development tracks.

Homeowners were underwater but they could give up a new car and still make it.

Back then, the national real estate market was still solid.

This time, it’s much worse. Homeowners are losing hundreds of thousands. They can’t recover from that.

The commercial real estate market is imploding. I expect some kind of RTC2 for commercial RE.

[an]

[quote=briansd1]
People who live in run-down houses are not spending any money on maintenance now. But they’ll spend money on maintenance later, or they will pay it in lost equity. [/quote]
You’re assuming that they’ll sell. Even if they will sell, you’re assuming they won’t spend a few grand to spruce it up. It’s not expensive to put a new coat of paint. A house is not like a car. A lot of things in the house are made to work for 15-20 years. The only things that will degrade earlier (that people can DIY) are landscaping and paint.

[quote=briansd1]I see house maintenance, painting, etc. as work. Work can be fulfilling and enjoyable. But I’d rather make money at it than spend money on it.

To each his own.
[/quote]
It is to each their own. Work for one is hobby for another. Going snowboarding would be work for some and a hobby for others. You’d have to spend money to go snowboarding.

[an]

[quote=briansd1]
People who live in run-down houses are not spending any money on maintenance now. But they’ll spend money on maintenance later, or they will pay it in lost equity. [/quote]
You’re assuming that they’ll sell. Even if they will sell, you’re assuming they won’t spend a few grand to spruce it up. It’s not expensive to put a new coat of paint. A house is not like a car. A lot of things in the house are made to work for 15-20 years. The only things that will degrade earlier (that people can DIY) are landscaping and paint.

[quote=briansd1]I see house maintenance, painting, etc. as work. Work can be fulfilling and enjoyable. But I’d rather make money at it than spend money on it.

To each his own.
[/quote]
It is to each their own. Work for one is hobby for another. Going snowboarding would be work for some and a hobby for others. You’d have to spend money to go snowboarding.

[an]

[quote=briansd1]
People who live in run-down houses are not spending any money on maintenance now. But they’ll spend money on maintenance later, or they will pay it in lost equity. [/quote]
You’re assuming that they’ll sell. Even if they will sell, you’re assuming they won’t spend a few grand to spruce it up. It’s not expensive to put a new coat of paint. A house is not like a car. A lot of things in the house are made to work for 15-20 years. The only things that will degrade earlier (that people can DIY) are landscaping and paint.

[quote=briansd1]I see house maintenance, painting, etc. as work. Work can be fulfilling and enjoyable. But I’d rather make money at it than spend money on it.

To each his own.
[/quote]
It is to each their own. Work for one is hobby for another. Going snowboarding would be work for some and a hobby for others. You’d have to spend money to go snowboarding.

[an]

[quote=briansd1]
People who live in run-down houses are not spending any money on maintenance now. But they’ll spend money on maintenance later, or they will pay it in lost equity. [/quote]
You’re assuming that they’ll sell. Even if they will sell, you’re assuming they won’t spend a few grand to spruce it up. It’s not expensive to put a new coat of paint. A house is not like a car. A lot of things in the house are made to work for 15-20 years. The only things that will degrade earlier (that people can DIY) are landscaping and paint.

[quote=briansd1]I see house maintenance, painting, etc. as work. Work can be fulfilling and enjoyable. But I’d rather make money at it than spend money on it.

To each his own.
[/quote]
It is to each their own. Work for one is hobby for another. Going snowboarding would be work for some and a hobby for others. You’d have to spend money to go snowboarding.

[Author]

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