The new smart financial move is walking away

[jpinpb]

Okay. So at one time it was unheard of and looked down upon to walk. That was crazy talk. Now it seems acceptable, in fact, encouraged and crazy if you don’t. So my question would be: how many are going to? Are we looking pretty much at everyone who bought during the bubble that is upside-down? I mean, you know, I think it’s safe to say that every purchase during the bubble has seen minimum and conservatively 15-20% off peak price, even in nicer areas. Can we expect that they’re all going to walk?

I look, for example, at some condo conversions in UTC during the bubble and the NODs and foreclosures continue unrelentlessly – and that’s only what banks are bothering to file paperwork on. It would not shock me if eventually every single unit that sold during the bubble turns over.

[briansd1]

[quote=jpinpb] It would not shock me if eventually every single unit that sold during the bubble turns over.[/quote]

That’s what I’ve been saying.

In order for the market to return to equilibrium, those peak buys will somehow be purged from the system, one way or another.

It’s been 4 years since the peak and foreclosure downtown continue relentlessly. When we look back 10 years or 20 years hence, very few peak buys would still be owned by the original purchasers.

[briansd1]

[quote=jpinpb] It would not shock me if eventually every single unit that sold during the bubble turns over.[/quote]

That’s what I’ve been saying.

In order for the market to return to equilibrium, those peak buys will somehow be purged from the system, one way or another.

It’s been 4 years since the peak and foreclosure downtown continue relentlessly. When we look back 10 years or 20 years hence, very few peak buys would still be owned by the original purchasers.

[briansd1]

[quote=jpinpb] It would not shock me if eventually every single unit that sold during the bubble turns over.[/quote]

That’s what I’ve been saying.

In order for the market to return to equilibrium, those peak buys will somehow be purged from the system, one way or another.

It’s been 4 years since the peak and foreclosure downtown continue relentlessly. When we look back 10 years or 20 years hence, very few peak buys would still be owned by the original purchasers.

[briansd1]

[quote=jpinpb] It would not shock me if eventually every single unit that sold during the bubble turns over.[/quote]

That’s what I’ve been saying.

In order for the market to return to equilibrium, those peak buys will somehow be purged from the system, one way or another.

It’s been 4 years since the peak and foreclosure downtown continue relentlessly. When we look back 10 years or 20 years hence, very few peak buys would still be owned by the original purchasers.

[briansd1]

[quote=jpinpb] It would not shock me if eventually every single unit that sold during the bubble turns over.[/quote]

That’s what I’ve been saying.

In order for the market to return to equilibrium, those peak buys will somehow be purged from the system, one way or another.

It’s been 4 years since the peak and foreclosure downtown continue relentlessly. When we look back 10 years or 20 years hence, very few peak buys would still be owned by the original purchasers.

[sdrealtor]

No its not safe to say everyone is 15 to 20% off because not all are. No we cant expect them all to walk either. If you put money down you may not be underwater and even if you are 10% to 20% underwater (loan to value) you want to try to get your money back. Thats the way most i have run into think.

[sdrealtor]

No its not safe to say everyone is 15 to 20% off because not all are. No we cant expect them all to walk either. If you put money down you may not be underwater and even if you are 10% to 20% underwater (loan to value) you want to try to get your money back. Thats the way most i have run into think.

[sdrealtor]

No its not safe to say everyone is 15 to 20% off because not all are. No we cant expect them all to walk either. If you put money down you may not be underwater and even if you are 10% to 20% underwater (loan to value) you want to try to get your money back. Thats the way most i have run into think.

[sdrealtor]

No its not safe to say everyone is 15 to 20% off because not all are. No we cant expect them all to walk either. If you put money down you may not be underwater and even if you are 10% to 20% underwater (loan to value) you want to try to get your money back. Thats the way most i have run into think.

[sdrealtor]

No its not safe to say everyone is 15 to 20% off because not all are. No we cant expect them all to walk either. If you put money down you may not be underwater and even if you are 10% to 20% underwater (loan to value) you want to try to get your money back. Thats the way most i have run into think.

[jpinpb]

sdr – I’m sorry. I didn’t mean all as in 100%. But I’ll go out on a limb and say that during the peak bubble, a very high percentage of people took advantage of the zero down. Those people do have nothing to lose except good credit for a short period of time.

The areas that I’m observing have seen minimum 15% off peak price. I don’t follow the La Costa area, which I know you do. Perhaps that area is still seeing peak prices.

[jpinpb]

sdr – I’m sorry. I didn’t mean all as in 100%. But I’ll go out on a limb and say that during the peak bubble, a very high percentage of people took advantage of the zero down. Those people do have nothing to lose except good credit for a short period of time.

The areas that I’m observing have seen minimum 15% off peak price. I don’t follow the La Costa area, which I know you do. Perhaps that area is still seeing peak prices.

[jpinpb]

sdr – I’m sorry. I didn’t mean all as in 100%. But I’ll go out on a limb and say that during the peak bubble, a very high percentage of people took advantage of the zero down. Those people do have nothing to lose except good credit for a short period of time.

The areas that I’m observing have seen minimum 15% off peak price. I don’t follow the La Costa area, which I know you do. Perhaps that area is still seeing peak prices.

[jpinpb]

sdr – I’m sorry. I didn’t mean all as in 100%. But I’ll go out on a limb and say that during the peak bubble, a very high percentage of people took advantage of the zero down. Those people do have nothing to lose except good credit for a short period of time.

The areas that I’m observing have seen minimum 15% off peak price. I don’t follow the La Costa area, which I know you do. Perhaps that area is still seeing peak prices.

[Author]

Posts