should I buy in temecula

[paramount]

BREAKING NEWS – I THINK….

An August Surprise from Obama?

Main Street may be about to get its own gigantic bailout. Rumors are running wild from Washington to Wall Street that the Obama administration is about to order government-controlled lenders Fannie Mae and Freddie Mac to forgive a portion of the mortgage debt of millions of Americans who owe more than what their homes are worth. An estimated 15 million U.S. mortgages – one in five – are underwater with negative equity of some $800 billion.

http://blogs.reuters.com/james-pethokoukis/2010/08/05/an-august-surprise-from-obama/

[temeculaguy]

I don’t sweat the quarry, I very much doubt it will ever happen. I say this because the eco nimby folks up here have substantial power and when they have the indians, the city, the wineries, the tourism folks and all the environmentalists on their side, they never lose. About ten years ago that S.O.S. group was formed to fight a power line to San Diego, it seems the big energy companies may have wanted to sell electricity from mexico and from new plants in s.d. to L.A., the S.O.S. folks formed, raised tons of cash and won. San Diego’s Sunrise power link exists because of these guys. It’s a long story, I attended their fundraisers in the wine country (great parties by the way) and they now have set their sights on the quarry. Only this time the tourism and wineries have grown about 10 fold since the power line days. Tourism here is no small affair, 600 million a year, so is the agriculture/wine biz valued at 600 mil, god only know how much the pechangans make with the largest casino/resort in the state. It will also endanger SDSU’s big eco preserve and the last/largest coastal flowing river and pendleton’s water supply. I’m not even sure it will be all that big of a deal if they built it, it’s actually closer to fallbrook than it is to me but do not for minute think that these folks are small time, they have money, experience and an undefeated record, they dont want something, it’s not coming. The city just spent 2/3 of a million on another study to fight it, they have the money set aside to buy all of the land around it, the game is not over. The city has a balanced budget and a 15 million dollar surplus this year, even in these times, they are laying off nobody and have cash left over, there’s lot of cash for lobbying, lawyers and perhaps a few bribes. If they made it a bet in vegas, I’d give you 2 to 1 that it never gets built.

As for the town, search old threads, nobody wants to hear me tell them all again, i defended my hood valiantly for a few years and it exhausted me. I wont even fight the sterotypes, if you want a 5 br home in a safe area with a responsive local governemnt at a price that is in line with Texas, you have but a few choices, this is my favorite one. If houses on the coast cost the same, I probably wouldn;t live here, but the cost vs the benefit is where I made my decision, you have to make your own. If the OP is serious about shopping, send me a private message with any questions, I’d be glad to give you my specific opinions on the neigborhoods, developments and tracts, that stuff i know. I’m not a realtor, I have not and will not take a nickel for my advice and over a dozen piggs, past and present can attest to that, many of them I’ve met in person. Some are my neighbors now, some are my friends and i truly believe that at todays prices, you are making a fairly safe bet in real estate up here right now if you play it smart. But that’s me, I’m selfish now, I got mine, now i just pop in for fun and to interact with old friends, it makes no difference to me, I’m not selling, and if i did, I’d make a tidy profit, not because of the town I chose but because I did it the piggington way, the informed way.

[temeculaguy]

I don’t sweat the quarry, I very much doubt it will ever happen. I say this because the eco nimby folks up here have substantial power and when they have the indians, the city, the wineries, the tourism folks and all the environmentalists on their side, they never lose. About ten years ago that S.O.S. group was formed to fight a power line to San Diego, it seems the big energy companies may have wanted to sell electricity from mexico and from new plants in s.d. to L.A., the S.O.S. folks formed, raised tons of cash and won. San Diego’s Sunrise power link exists because of these guys. It’s a long story, I attended their fundraisers in the wine country (great parties by the way) and they now have set their sights on the quarry. Only this time the tourism and wineries have grown about 10 fold since the power line days. Tourism here is no small affair, 600 million a year, so is the agriculture/wine biz valued at 600 mil, god only know how much the pechangans make with the largest casino/resort in the state. It will also endanger SDSU’s big eco preserve and the last/largest coastal flowing river and pendleton’s water supply. I’m not even sure it will be all that big of a deal if they built it, it’s actually closer to fallbrook than it is to me but do not for minute think that these folks are small time, they have money, experience and an undefeated record, they dont want something, it’s not coming. The city just spent 2/3 of a million on another study to fight it, they have the money set aside to buy all of the land around it, the game is not over. The city has a balanced budget and a 15 million dollar surplus this year, even in these times, they are laying off nobody and have cash left over, there’s lot of cash for lobbying, lawyers and perhaps a few bribes. If they made it a bet in vegas, I’d give you 2 to 1 that it never gets built.

As for the town, search old threads, nobody wants to hear me tell them all again, i defended my hood valiantly for a few years and it exhausted me. I wont even fight the sterotypes, if you want a 5 br home in a safe area with a responsive local governemnt at a price that is in line with Texas, you have but a few choices, this is my favorite one. If houses on the coast cost the same, I probably wouldn;t live here, but the cost vs the benefit is where I made my decision, you have to make your own. If the OP is serious about shopping, send me a private message with any questions, I’d be glad to give you my specific opinions on the neigborhoods, developments and tracts, that stuff i know. I’m not a realtor, I have not and will not take a nickel for my advice and over a dozen piggs, past and present can attest to that, many of them I’ve met in person. Some are my neighbors now, some are my friends and i truly believe that at todays prices, you are making a fairly safe bet in real estate up here right now if you play it smart. But that’s me, I’m selfish now, I got mine, now i just pop in for fun and to interact with old friends, it makes no difference to me, I’m not selling, and if i did, I’d make a tidy profit, not because of the town I chose but because I did it the piggington way, the informed way.

[temeculaguy]

I don’t sweat the quarry, I very much doubt it will ever happen. I say this because the eco nimby folks up here have substantial power and when they have the indians, the city, the wineries, the tourism folks and all the environmentalists on their side, they never lose. About ten years ago that S.O.S. group was formed to fight a power line to San Diego, it seems the big energy companies may have wanted to sell electricity from mexico and from new plants in s.d. to L.A., the S.O.S. folks formed, raised tons of cash and won. San Diego’s Sunrise power link exists because of these guys. It’s a long story, I attended their fundraisers in the wine country (great parties by the way) and they now have set their sights on the quarry. Only this time the tourism and wineries have grown about 10 fold since the power line days. Tourism here is no small affair, 600 million a year, so is the agriculture/wine biz valued at 600 mil, god only know how much the pechangans make with the largest casino/resort in the state. It will also endanger SDSU’s big eco preserve and the last/largest coastal flowing river and pendleton’s water supply. I’m not even sure it will be all that big of a deal if they built it, it’s actually closer to fallbrook than it is to me but do not for minute think that these folks are small time, they have money, experience and an undefeated record, they dont want something, it’s not coming. The city just spent 2/3 of a million on another study to fight it, they have the money set aside to buy all of the land around it, the game is not over. The city has a balanced budget and a 15 million dollar surplus this year, even in these times, they are laying off nobody and have cash left over, there’s lot of cash for lobbying, lawyers and perhaps a few bribes. If they made it a bet in vegas, I’d give you 2 to 1 that it never gets built.

As for the town, search old threads, nobody wants to hear me tell them all again, i defended my hood valiantly for a few years and it exhausted me. I wont even fight the sterotypes, if you want a 5 br home in a safe area with a responsive local governemnt at a price that is in line with Texas, you have but a few choices, this is my favorite one. If houses on the coast cost the same, I probably wouldn;t live here, but the cost vs the benefit is where I made my decision, you have to make your own. If the OP is serious about shopping, send me a private message with any questions, I’d be glad to give you my specific opinions on the neigborhoods, developments and tracts, that stuff i know. I’m not a realtor, I have not and will not take a nickel for my advice and over a dozen piggs, past and present can attest to that, many of them I’ve met in person. Some are my neighbors now, some are my friends and i truly believe that at todays prices, you are making a fairly safe bet in real estate up here right now if you play it smart. But that’s me, I’m selfish now, I got mine, now i just pop in for fun and to interact with old friends, it makes no difference to me, I’m not selling, and if i did, I’d make a tidy profit, not because of the town I chose but because I did it the piggington way, the informed way.

[temeculaguy]

I don’t sweat the quarry, I very much doubt it will ever happen. I say this because the eco nimby folks up here have substantial power and when they have the indians, the city, the wineries, the tourism folks and all the environmentalists on their side, they never lose. About ten years ago that S.O.S. group was formed to fight a power line to San Diego, it seems the big energy companies may have wanted to sell electricity from mexico and from new plants in s.d. to L.A., the S.O.S. folks formed, raised tons of cash and won. San Diego’s Sunrise power link exists because of these guys. It’s a long story, I attended their fundraisers in the wine country (great parties by the way) and they now have set their sights on the quarry. Only this time the tourism and wineries have grown about 10 fold since the power line days. Tourism here is no small affair, 600 million a year, so is the agriculture/wine biz valued at 600 mil, god only know how much the pechangans make with the largest casino/resort in the state. It will also endanger SDSU’s big eco preserve and the last/largest coastal flowing river and pendleton’s water supply. I’m not even sure it will be all that big of a deal if they built it, it’s actually closer to fallbrook than it is to me but do not for minute think that these folks are small time, they have money, experience and an undefeated record, they dont want something, it’s not coming. The city just spent 2/3 of a million on another study to fight it, they have the money set aside to buy all of the land around it, the game is not over. The city has a balanced budget and a 15 million dollar surplus this year, even in these times, they are laying off nobody and have cash left over, there’s lot of cash for lobbying, lawyers and perhaps a few bribes. If they made it a bet in vegas, I’d give you 2 to 1 that it never gets built.

As for the town, search old threads, nobody wants to hear me tell them all again, i defended my hood valiantly for a few years and it exhausted me. I wont even fight the sterotypes, if you want a 5 br home in a safe area with a responsive local governemnt at a price that is in line with Texas, you have but a few choices, this is my favorite one. If houses on the coast cost the same, I probably wouldn;t live here, but the cost vs the benefit is where I made my decision, you have to make your own. If the OP is serious about shopping, send me a private message with any questions, I’d be glad to give you my specific opinions on the neigborhoods, developments and tracts, that stuff i know. I’m not a realtor, I have not and will not take a nickel for my advice and over a dozen piggs, past and present can attest to that, many of them I’ve met in person. Some are my neighbors now, some are my friends and i truly believe that at todays prices, you are making a fairly safe bet in real estate up here right now if you play it smart. But that’s me, I’m selfish now, I got mine, now i just pop in for fun and to interact with old friends, it makes no difference to me, I’m not selling, and if i did, I’d make a tidy profit, not because of the town I chose but because I did it the piggington way, the informed way.

[temeculaguy]

I don’t sweat the quarry, I very much doubt it will ever happen. I say this because the eco nimby folks up here have substantial power and when they have the indians, the city, the wineries, the tourism folks and all the environmentalists on their side, they never lose. About ten years ago that S.O.S. group was formed to fight a power line to San Diego, it seems the big energy companies may have wanted to sell electricity from mexico and from new plants in s.d. to L.A., the S.O.S. folks formed, raised tons of cash and won. San Diego’s Sunrise power link exists because of these guys. It’s a long story, I attended their fundraisers in the wine country (great parties by the way) and they now have set their sights on the quarry. Only this time the tourism and wineries have grown about 10 fold since the power line days. Tourism here is no small affair, 600 million a year, so is the agriculture/wine biz valued at 600 mil, god only know how much the pechangans make with the largest casino/resort in the state. It will also endanger SDSU’s big eco preserve and the last/largest coastal flowing river and pendleton’s water supply. I’m not even sure it will be all that big of a deal if they built it, it’s actually closer to fallbrook than it is to me but do not for minute think that these folks are small time, they have money, experience and an undefeated record, they dont want something, it’s not coming. The city just spent 2/3 of a million on another study to fight it, they have the money set aside to buy all of the land around it, the game is not over. The city has a balanced budget and a 15 million dollar surplus this year, even in these times, they are laying off nobody and have cash left over, there’s lot of cash for lobbying, lawyers and perhaps a few bribes. If they made it a bet in vegas, I’d give you 2 to 1 that it never gets built.

As for the town, search old threads, nobody wants to hear me tell them all again, i defended my hood valiantly for a few years and it exhausted me. I wont even fight the sterotypes, if you want a 5 br home in a safe area with a responsive local governemnt at a price that is in line with Texas, you have but a few choices, this is my favorite one. If houses on the coast cost the same, I probably wouldn;t live here, but the cost vs the benefit is where I made my decision, you have to make your own. If the OP is serious about shopping, send me a private message with any questions, I’d be glad to give you my specific opinions on the neigborhoods, developments and tracts, that stuff i know. I’m not a realtor, I have not and will not take a nickel for my advice and over a dozen piggs, past and present can attest to that, many of them I’ve met in person. Some are my neighbors now, some are my friends and i truly believe that at todays prices, you are making a fairly safe bet in real estate up here right now if you play it smart. But that’s me, I’m selfish now, I got mine, now i just pop in for fun and to interact with old friends, it makes no difference to me, I’m not selling, and if i did, I’d make a tidy profit, not because of the town I chose but because I did it the piggington way, the informed way.

[CA renter]

[quote=paramount]BREAKING NEWS – I THINK….

An August Surprise from Obama?

Main Street may be about to get its own gigantic bailout. Rumors are running wild from Washington to Wall Street that the Obama administration is about to order government-controlled lenders Fannie Mae and Freddie Mac to forgive a portion of the mortgage debt of millions of Americans who owe more than what their homes are worth. An estimated 15 million U.S. mortgages – one in five – are underwater with negative equity of some $800 billion.

http://blogs.reuters.com/james-pethokoukis/2010/08/05/an-august-surprise-from-obama/%5B/quote%5D

HA!!!

You heard it here first. 😉
—————

Submitted by CA renter on April 6, 2010 – 12:51am.
Part of my prediction for 2010 on the HBB:

The GSEs will become the ultra-super-SIV, and principal reductions will become the norm on GSE loans. IMHO, one of the reasons inventory has been kept off the market is because the PTB wanted housing prices high enough that borrowers can refi into GSE loans. I believe a good portion of the toxic loans now belongs to the GSEs, and they can now do what they’ve wanted to do, without the complications of multiple layers of investors in the private, securitized market.

http://www.thehousingbubbleblog.com/?p=5…

[edited to include complete link]:

http://www.thehousingbubbleblog.com/?p=5808#comment-1725591
——————

IMHO, the PTB are not stupid. They know we cannot prop up the housing market forever; and forcing U.S. workers to continually overpay for housing will prevent us from competing with other countries with lower wages.

We need to allow for lower wages, and we cannot do that until we let housing prices fall to afordable levels (at these reduced wages).

IMHO, all the moratoriums, govt programs, inventory suppression, etc. were required to get as many private bank loans refinanced into publicly guaranteed or held loans (FHA or GSEs). They had to keep prices artificially inflated for political reasons — the prices had to drop AFTER the risks were already transferred, or the public would have been up in arms about making Goldman Sachs (or the public pensions) whole on the taxpayers’ dime. They needed to refi a $500K loan (from the private lenders) into a $500K (or $450K) loan (to the public lender), or else there would have been a public outcry.

Once they’ve done everything they can to save the banks, they will allow the housing market to fall again, IMHO. They’ve had over two years to work on this, and I believe they are near the end of their “risk-transfer” program.

This was never about saving Joe Sixpack. It was always about saving the banks.

Not sure why anyone would have ever questioned the existence of the “shadow inventory.” Where there’s smoke, there’s fire; and there was plenty of smoke.

http://piggington.com/foreclosure_wave_about_to_hit_again_and_with_a_thunderous_roar_n

[CA renter]

[quote=paramount]BREAKING NEWS – I THINK….

An August Surprise from Obama?

Main Street may be about to get its own gigantic bailout. Rumors are running wild from Washington to Wall Street that the Obama administration is about to order government-controlled lenders Fannie Mae and Freddie Mac to forgive a portion of the mortgage debt of millions of Americans who owe more than what their homes are worth. An estimated 15 million U.S. mortgages – one in five – are underwater with negative equity of some $800 billion.

http://blogs.reuters.com/james-pethokoukis/2010/08/05/an-august-surprise-from-obama/%5B/quote%5D

HA!!!

You heard it here first. 😉
—————

Submitted by CA renter on April 6, 2010 – 12:51am.
Part of my prediction for 2010 on the HBB:

The GSEs will become the ultra-super-SIV, and principal reductions will become the norm on GSE loans. IMHO, one of the reasons inventory has been kept off the market is because the PTB wanted housing prices high enough that borrowers can refi into GSE loans. I believe a good portion of the toxic loans now belongs to the GSEs, and they can now do what they’ve wanted to do, without the complications of multiple layers of investors in the private, securitized market.

http://www.thehousingbubbleblog.com/?p=5…

[edited to include complete link]:

http://www.thehousingbubbleblog.com/?p=5808#comment-1725591
——————

IMHO, the PTB are not stupid. They know we cannot prop up the housing market forever; and forcing U.S. workers to continually overpay for housing will prevent us from competing with other countries with lower wages.

We need to allow for lower wages, and we cannot do that until we let housing prices fall to afordable levels (at these reduced wages).

IMHO, all the moratoriums, govt programs, inventory suppression, etc. were required to get as many private bank loans refinanced into publicly guaranteed or held loans (FHA or GSEs). They had to keep prices artificially inflated for political reasons — the prices had to drop AFTER the risks were already transferred, or the public would have been up in arms about making Goldman Sachs (or the public pensions) whole on the taxpayers’ dime. They needed to refi a $500K loan (from the private lenders) into a $500K (or $450K) loan (to the public lender), or else there would have been a public outcry.

Once they’ve done everything they can to save the banks, they will allow the housing market to fall again, IMHO. They’ve had over two years to work on this, and I believe they are near the end of their “risk-transfer” program.

This was never about saving Joe Sixpack. It was always about saving the banks.

Not sure why anyone would have ever questioned the existence of the “shadow inventory.” Where there’s smoke, there’s fire; and there was plenty of smoke.

http://piggington.com/foreclosure_wave_about_to_hit_again_and_with_a_thunderous_roar_n

[CA renter]

[quote=paramount]BREAKING NEWS – I THINK….

An August Surprise from Obama?

Main Street may be about to get its own gigantic bailout. Rumors are running wild from Washington to Wall Street that the Obama administration is about to order government-controlled lenders Fannie Mae and Freddie Mac to forgive a portion of the mortgage debt of millions of Americans who owe more than what their homes are worth. An estimated 15 million U.S. mortgages – one in five – are underwater with negative equity of some $800 billion.

http://blogs.reuters.com/james-pethokoukis/2010/08/05/an-august-surprise-from-obama/%5B/quote%5D

HA!!!

You heard it here first. 😉
—————

Submitted by CA renter on April 6, 2010 – 12:51am.
Part of my prediction for 2010 on the HBB:

The GSEs will become the ultra-super-SIV, and principal reductions will become the norm on GSE loans. IMHO, one of the reasons inventory has been kept off the market is because the PTB wanted housing prices high enough that borrowers can refi into GSE loans. I believe a good portion of the toxic loans now belongs to the GSEs, and they can now do what they’ve wanted to do, without the complications of multiple layers of investors in the private, securitized market.

http://www.thehousingbubbleblog.com/?p=5…

[edited to include complete link]:

http://www.thehousingbubbleblog.com/?p=5808#comment-1725591
——————

IMHO, the PTB are not stupid. They know we cannot prop up the housing market forever; and forcing U.S. workers to continually overpay for housing will prevent us from competing with other countries with lower wages.

We need to allow for lower wages, and we cannot do that until we let housing prices fall to afordable levels (at these reduced wages).

IMHO, all the moratoriums, govt programs, inventory suppression, etc. were required to get as many private bank loans refinanced into publicly guaranteed or held loans (FHA or GSEs). They had to keep prices artificially inflated for political reasons — the prices had to drop AFTER the risks were already transferred, or the public would have been up in arms about making Goldman Sachs (or the public pensions) whole on the taxpayers’ dime. They needed to refi a $500K loan (from the private lenders) into a $500K (or $450K) loan (to the public lender), or else there would have been a public outcry.

Once they’ve done everything they can to save the banks, they will allow the housing market to fall again, IMHO. They’ve had over two years to work on this, and I believe they are near the end of their “risk-transfer” program.

This was never about saving Joe Sixpack. It was always about saving the banks.

Not sure why anyone would have ever questioned the existence of the “shadow inventory.” Where there’s smoke, there’s fire; and there was plenty of smoke.

http://piggington.com/foreclosure_wave_about_to_hit_again_and_with_a_thunderous_roar_n

[CA renter]

[quote=paramount]BREAKING NEWS – I THINK….

An August Surprise from Obama?

Main Street may be about to get its own gigantic bailout. Rumors are running wild from Washington to Wall Street that the Obama administration is about to order government-controlled lenders Fannie Mae and Freddie Mac to forgive a portion of the mortgage debt of millions of Americans who owe more than what their homes are worth. An estimated 15 million U.S. mortgages – one in five – are underwater with negative equity of some $800 billion.

http://blogs.reuters.com/james-pethokoukis/2010/08/05/an-august-surprise-from-obama/%5B/quote%5D

HA!!!

You heard it here first. 😉
—————

Submitted by CA renter on April 6, 2010 – 12:51am.
Part of my prediction for 2010 on the HBB:

The GSEs will become the ultra-super-SIV, and principal reductions will become the norm on GSE loans. IMHO, one of the reasons inventory has been kept off the market is because the PTB wanted housing prices high enough that borrowers can refi into GSE loans. I believe a good portion of the toxic loans now belongs to the GSEs, and they can now do what they’ve wanted to do, without the complications of multiple layers of investors in the private, securitized market.

http://www.thehousingbubbleblog.com/?p=5…

[edited to include complete link]:

http://www.thehousingbubbleblog.com/?p=5808#comment-1725591
——————

IMHO, the PTB are not stupid. They know we cannot prop up the housing market forever; and forcing U.S. workers to continually overpay for housing will prevent us from competing with other countries with lower wages.

We need to allow for lower wages, and we cannot do that until we let housing prices fall to afordable levels (at these reduced wages).

IMHO, all the moratoriums, govt programs, inventory suppression, etc. were required to get as many private bank loans refinanced into publicly guaranteed or held loans (FHA or GSEs). They had to keep prices artificially inflated for political reasons — the prices had to drop AFTER the risks were already transferred, or the public would have been up in arms about making Goldman Sachs (or the public pensions) whole on the taxpayers’ dime. They needed to refi a $500K loan (from the private lenders) into a $500K (or $450K) loan (to the public lender), or else there would have been a public outcry.

Once they’ve done everything they can to save the banks, they will allow the housing market to fall again, IMHO. They’ve had over two years to work on this, and I believe they are near the end of their “risk-transfer” program.

This was never about saving Joe Sixpack. It was always about saving the banks.

Not sure why anyone would have ever questioned the existence of the “shadow inventory.” Where there’s smoke, there’s fire; and there was plenty of smoke.

http://piggington.com/foreclosure_wave_about_to_hit_again_and_with_a_thunderous_roar_n

[CA renter]

[quote=paramount]BREAKING NEWS – I THINK….

An August Surprise from Obama?

Main Street may be about to get its own gigantic bailout. Rumors are running wild from Washington to Wall Street that the Obama administration is about to order government-controlled lenders Fannie Mae and Freddie Mac to forgive a portion of the mortgage debt of millions of Americans who owe more than what their homes are worth. An estimated 15 million U.S. mortgages – one in five – are underwater with negative equity of some $800 billion.

http://blogs.reuters.com/james-pethokoukis/2010/08/05/an-august-surprise-from-obama/%5B/quote%5D

HA!!!

You heard it here first. 😉
—————

Submitted by CA renter on April 6, 2010 – 12:51am.
Part of my prediction for 2010 on the HBB:

The GSEs will become the ultra-super-SIV, and principal reductions will become the norm on GSE loans. IMHO, one of the reasons inventory has been kept off the market is because the PTB wanted housing prices high enough that borrowers can refi into GSE loans. I believe a good portion of the toxic loans now belongs to the GSEs, and they can now do what they’ve wanted to do, without the complications of multiple layers of investors in the private, securitized market.

http://www.thehousingbubbleblog.com/?p=5…

[edited to include complete link]:

http://www.thehousingbubbleblog.com/?p=5808#comment-1725591
——————

IMHO, the PTB are not stupid. They know we cannot prop up the housing market forever; and forcing U.S. workers to continually overpay for housing will prevent us from competing with other countries with lower wages.

We need to allow for lower wages, and we cannot do that until we let housing prices fall to afordable levels (at these reduced wages).

IMHO, all the moratoriums, govt programs, inventory suppression, etc. were required to get as many private bank loans refinanced into publicly guaranteed or held loans (FHA or GSEs). They had to keep prices artificially inflated for political reasons — the prices had to drop AFTER the risks were already transferred, or the public would have been up in arms about making Goldman Sachs (or the public pensions) whole on the taxpayers’ dime. They needed to refi a $500K loan (from the private lenders) into a $500K (or $450K) loan (to the public lender), or else there would have been a public outcry.

Once they’ve done everything they can to save the banks, they will allow the housing market to fall again, IMHO. They’ve had over two years to work on this, and I believe they are near the end of their “risk-transfer” program.

This was never about saving Joe Sixpack. It was always about saving the banks.

Not sure why anyone would have ever questioned the existence of the “shadow inventory.” Where there’s smoke, there’s fire; and there was plenty of smoke.

http://piggington.com/foreclosure_wave_about_to_hit_again_and_with_a_thunderous_roar_n

[paramount]

TG: Can you tell me where I can get a pair of those rose-color glasses?

[paramount]

TG: Can you tell me where I can get a pair of those rose-color glasses?

[paramount]

TG: Can you tell me where I can get a pair of those rose-color glasses?

[paramount]

TG: Can you tell me where I can get a pair of those rose-color glasses?

[Author]

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