Statewide foreclosure chart

[Navydoc]

I saw this this morning and was planning on posting it here myself. Interesting thing happened while I was looking at it. I had it up on a computer in a conference room during an OB clinic, approximately 6 people in the room, 1 Nurse Practitioner, 2 RN’s, a Nurse Practitioner student and a couple of Medical Assistants. When I commented on it one of the RN’s said “God, they have to do something to stop these foreclosures!” It was then that I realized we are still deep in the denial phase of this correction. I calmly explained to those in the room that no, that’s the worst thing we could do, as it would just prolong the pain and house prices would remain artificially high. I asked those present what they thought the median income was, and when they answered I explained the multiple of 3 rule for a safe mortgage. The Nurse Practitioner said ” no way will we see $200-300K medians again”.

Kool aid still flowing freely in South Bay LA. I guess this explains why there has been so little price reduction lately. And is it my imagination, or has there been a huge increase in the number of houses removed from the market the past few weeks? Are these pending foerclosures/REO’s?

At least for me and my wife, unless there are some massive price reductions this Winter, I think we’ll put off buying for a while. Rentals on Craigs List seem to be proliferating. There is also a lingering possibility I will get shipped off to Bethesda next Summer. Will likely still be circling for a bit.

[patientrenter]

Navydoc,

What happens if you are “shipped off” somewhere? Does the Navy pick up the tab for moving costs? Losses on a home? I am just curious how this works in the military. Can’t be easy for all.

And yes, most people are in total denial. To be fair, they may be partly right. Dodd, Frank, and Schumer, Bair etc, are pretty determined to throw any amount of money at housing to keep prices high.

[patientrenter]

Navydoc,

What happens if you are “shipped off” somewhere? Does the Navy pick up the tab for moving costs? Losses on a home? I am just curious how this works in the military. Can’t be easy for all.

And yes, most people are in total denial. To be fair, they may be partly right. Dodd, Frank, and Schumer, Bair etc, are pretty determined to throw any amount of money at housing to keep prices high.

[patientrenter]

Navydoc,

What happens if you are “shipped off” somewhere? Does the Navy pick up the tab for moving costs? Losses on a home? I am just curious how this works in the military. Can’t be easy for all.

And yes, most people are in total denial. To be fair, they may be partly right. Dodd, Frank, and Schumer, Bair etc, are pretty determined to throw any amount of money at housing to keep prices high.

[patientrenter]

Navydoc,

What happens if you are “shipped off” somewhere? Does the Navy pick up the tab for moving costs? Losses on a home? I am just curious how this works in the military. Can’t be easy for all.

And yes, most people are in total denial. To be fair, they may be partly right. Dodd, Frank, and Schumer, Bair etc, are pretty determined to throw any amount of money at housing to keep prices high.

[patientrenter]

Navydoc,

What happens if you are “shipped off” somewhere? Does the Navy pick up the tab for moving costs? Losses on a home? I am just curious how this works in the military. Can’t be easy for all.

And yes, most people are in total denial. To be fair, they may be partly right. Dodd, Frank, and Schumer, Bair etc, are pretty determined to throw any amount of money at housing to keep prices high.

[Navydoc]

They completely cover moving costs, but won’t cover losses on a house, but something may be the works for that.

As for me, I’m currently at a civilian hospital for fellowship (Harbor UCLA). When I’m finished next Summer there is only 4 places they can send me, SD, Bethesda, Portsmouth or Okinawa. Because cross-country moves are so expensive we’re “encouraged” to seek training sites near where we want to go, so I chose Harbor. Unfortunately the needs of the Navy sometimes trump logic. My detailer has told me that there is someone at Bethesda who is eligible for retirement in Nov 09. If she gets out I go there, if she stays in I go to SD. It’s a bit frustrating having your career dependent upon someone else’s decision, but that is the reality of a military career, medical or otherwise.

[Navydoc]

They completely cover moving costs, but won’t cover losses on a house, but something may be the works for that.

As for me, I’m currently at a civilian hospital for fellowship (Harbor UCLA). When I’m finished next Summer there is only 4 places they can send me, SD, Bethesda, Portsmouth or Okinawa. Because cross-country moves are so expensive we’re “encouraged” to seek training sites near where we want to go, so I chose Harbor. Unfortunately the needs of the Navy sometimes trump logic. My detailer has told me that there is someone at Bethesda who is eligible for retirement in Nov 09. If she gets out I go there, if she stays in I go to SD. It’s a bit frustrating having your career dependent upon someone else’s decision, but that is the reality of a military career, medical or otherwise.

[Navydoc]

They completely cover moving costs, but won’t cover losses on a house, but something may be the works for that.

As for me, I’m currently at a civilian hospital for fellowship (Harbor UCLA). When I’m finished next Summer there is only 4 places they can send me, SD, Bethesda, Portsmouth or Okinawa. Because cross-country moves are so expensive we’re “encouraged” to seek training sites near where we want to go, so I chose Harbor. Unfortunately the needs of the Navy sometimes trump logic. My detailer has told me that there is someone at Bethesda who is eligible for retirement in Nov 09. If she gets out I go there, if she stays in I go to SD. It’s a bit frustrating having your career dependent upon someone else’s decision, but that is the reality of a military career, medical or otherwise.

[Navydoc]

They completely cover moving costs, but won’t cover losses on a house, but something may be the works for that.

As for me, I’m currently at a civilian hospital for fellowship (Harbor UCLA). When I’m finished next Summer there is only 4 places they can send me, SD, Bethesda, Portsmouth or Okinawa. Because cross-country moves are so expensive we’re “encouraged” to seek training sites near where we want to go, so I chose Harbor. Unfortunately the needs of the Navy sometimes trump logic. My detailer has told me that there is someone at Bethesda who is eligible for retirement in Nov 09. If she gets out I go there, if she stays in I go to SD. It’s a bit frustrating having your career dependent upon someone else’s decision, but that is the reality of a military career, medical or otherwise.

[Navydoc]

They completely cover moving costs, but won’t cover losses on a house, but something may be the works for that.

As for me, I’m currently at a civilian hospital for fellowship (Harbor UCLA). When I’m finished next Summer there is only 4 places they can send me, SD, Bethesda, Portsmouth or Okinawa. Because cross-country moves are so expensive we’re “encouraged” to seek training sites near where we want to go, so I chose Harbor. Unfortunately the needs of the Navy sometimes trump logic. My detailer has told me that there is someone at Bethesda who is eligible for retirement in Nov 09. If she gets out I go there, if she stays in I go to SD. It’s a bit frustrating having your career dependent upon someone else’s decision, but that is the reality of a military career, medical or otherwise.

[peterb]

That sure is an encouraging graph! Anyone thinking of buying a house right now should take a look at this. Consider that the poop storm has not really hit yet, too. Well, this is going to be one for the record books, folks. Sit back and watch the total implosion in 2009. I’m so glad I sold all my real estate in early 2007!!!!!

[peterb]

That sure is an encouraging graph! Anyone thinking of buying a house right now should take a look at this. Consider that the poop storm has not really hit yet, too. Well, this is going to be one for the record books, folks. Sit back and watch the total implosion in 2009. I’m so glad I sold all my real estate in early 2007!!!!!

[peterb]

That sure is an encouraging graph! Anyone thinking of buying a house right now should take a look at this. Consider that the poop storm has not really hit yet, too. Well, this is going to be one for the record books, folks. Sit back and watch the total implosion in 2009. I’m so glad I sold all my real estate in early 2007!!!!!

[peterb]

That sure is an encouraging graph! Anyone thinking of buying a house right now should take a look at this. Consider that the poop storm has not really hit yet, too. Well, this is going to be one for the record books, folks. Sit back and watch the total implosion in 2009. I’m so glad I sold all my real estate in early 2007!!!!!

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