Underwater Homeowners Thread

[briansd1]

[quote=CA renter]TG,

Here in San Diego, and parts of L.A., the natural peak was in 2001 in many places. You can see the sales rates and price increases slowing down in late 2000/early 2001, and many people in the RE field (back when they were fairly sane) were calling the top of the housing cycle.

I knew plenty of people who were getting neg-am/no-doc and other toxic loans before 2003, and buyers had been in a frenzy since the late 90s. An anecdote: our favorite waitress at a local, family-style restaurant could hardly contain her enthusiasm when she told us about how she and her *boyfriend* (who also worked at the restaurant) were buying a $400K house. They had no downpayment, no other income, and they were both in their very young 20s. This was around 2001/2002, IIRC.

We were never allowed to experience the recession that was supposed to happen in 2000/2001. We just dipped a little, then it was off to the races when Greenspan started juicing the housing market. Now, we will have to experience the pain from the 2001 recession in full, PLUS suffer the effects as all the money that was created in 2001-2007 gets sucked back out of the system. Greenspan really f’ed us.[/quote]

I agree with you.

Y2K is when government flooded the market with money to avert the Y2k bug (what a joke that was).

More money was pumped in to avert the recession brought on by the dot com bust.

Then more funny money was poured into the financial system after 9/11.

As jpinpb frequently reminds me, 1997 is when Clinton did away with capital gains on primary residences and when people started speculating on their own houses.

I believe we will see Year 2000 prices again.

[sdrealtor]

TG
This is my absolute all-time favorite post of yours. I have copied it into a word document and will some be using your brilliance “if there are too many rabbits, soon there will be coyotes” throughout my life. You will be given proper credit for it but likely under the some randon guy on the Internet nom de plure. I like it so much, that I hope people read it again for its simple brilliance. If you show up at the meet-up and I am able to make it also there will be a nice liquid gift for you.

The sentiment of that post sums up the very reason for my existence and peristence on hanging around this blog on a near daily basis for about 3 years. When I 1st arrived her there was no balance on the forums and that was the role I took. I was the rabbit for all the coyotes to chase. It was intentional and alternatively painful/fun at times. All of it calculated to help maintain balance. These words could have come out of my mouth if I was capable of writing them myself. So here it is again piggies, for your reading pleasure.

“What looks like optimism is merely observations from my life, your results may vary. I’ve spent probably more than half of my scheduled time on the planet and what I’ve learned makes me understand that balance will find me, I don;t need to seek it. When things look like they are great and will only get better, they won’t, conversely when things look like they can only get worse, they wont. Pendulums swing and they always swing back, if there are too many rabbits, soon there will be coyotes, balance is the most reliable thing in our world. The study of nature and business has amazing similarities. This country has all the needed elements, it just needs to organize them. It is also a healthy thing to go through something like this current crisis every decade or two.”

muchas gracias

sdr
“if there are too many rabbits, soon there will be coyotes”

[sdrealtor]

TG
This is my absolute all-time favorite post of yours. I have copied it into a word document and will some be using your brilliance “if there are too many rabbits, soon there will be coyotes” throughout my life. You will be given proper credit for it but likely under the some randon guy on the Internet nom de plure. I like it so much, that I hope people read it again for its simple brilliance. If you show up at the meet-up and I am able to make it also there will be a nice liquid gift for you.

The sentiment of that post sums up the very reason for my existence and peristence on hanging around this blog on a near daily basis for about 3 years. When I 1st arrived her there was no balance on the forums and that was the role I took. I was the rabbit for all the coyotes to chase. It was intentional and alternatively painful/fun at times. All of it calculated to help maintain balance. These words could have come out of my mouth if I was capable of writing them myself. So here it is again piggies, for your reading pleasure.

“What looks like optimism is merely observations from my life, your results may vary. I’ve spent probably more than half of my scheduled time on the planet and what I’ve learned makes me understand that balance will find me, I don;t need to seek it. When things look like they are great and will only get better, they won’t, conversely when things look like they can only get worse, they wont. Pendulums swing and they always swing back, if there are too many rabbits, soon there will be coyotes, balance is the most reliable thing in our world. The study of nature and business has amazing similarities. This country has all the needed elements, it just needs to organize them. It is also a healthy thing to go through something like this current crisis every decade or two.”

muchas gracias

sdr
“if there are too many rabbits, soon there will be coyotes”

[sdrealtor]

TG
This is my absolute all-time favorite post of yours. I have copied it into a word document and will some be using your brilliance “if there are too many rabbits, soon there will be coyotes” throughout my life. You will be given proper credit for it but likely under the some randon guy on the Internet nom de plure. I like it so much, that I hope people read it again for its simple brilliance. If you show up at the meet-up and I am able to make it also there will be a nice liquid gift for you.

The sentiment of that post sums up the very reason for my existence and peristence on hanging around this blog on a near daily basis for about 3 years. When I 1st arrived her there was no balance on the forums and that was the role I took. I was the rabbit for all the coyotes to chase. It was intentional and alternatively painful/fun at times. All of it calculated to help maintain balance. These words could have come out of my mouth if I was capable of writing them myself. So here it is again piggies, for your reading pleasure.

“What looks like optimism is merely observations from my life, your results may vary. I’ve spent probably more than half of my scheduled time on the planet and what I’ve learned makes me understand that balance will find me, I don;t need to seek it. When things look like they are great and will only get better, they won’t, conversely when things look like they can only get worse, they wont. Pendulums swing and they always swing back, if there are too many rabbits, soon there will be coyotes, balance is the most reliable thing in our world. The study of nature and business has amazing similarities. This country has all the needed elements, it just needs to organize them. It is also a healthy thing to go through something like this current crisis every decade or two.”

muchas gracias

sdr
“if there are too many rabbits, soon there will be coyotes”

[sdrealtor]

TG
This is my absolute all-time favorite post of yours. I have copied it into a word document and will some be using your brilliance “if there are too many rabbits, soon there will be coyotes” throughout my life. You will be given proper credit for it but likely under the some randon guy on the Internet nom de plure. I like it so much, that I hope people read it again for its simple brilliance. If you show up at the meet-up and I am able to make it also there will be a nice liquid gift for you.

The sentiment of that post sums up the very reason for my existence and peristence on hanging around this blog on a near daily basis for about 3 years. When I 1st arrived her there was no balance on the forums and that was the role I took. I was the rabbit for all the coyotes to chase. It was intentional and alternatively painful/fun at times. All of it calculated to help maintain balance. These words could have come out of my mouth if I was capable of writing them myself. So here it is again piggies, for your reading pleasure.

“What looks like optimism is merely observations from my life, your results may vary. I’ve spent probably more than half of my scheduled time on the planet and what I’ve learned makes me understand that balance will find me, I don;t need to seek it. When things look like they are great and will only get better, they won’t, conversely when things look like they can only get worse, they wont. Pendulums swing and they always swing back, if there are too many rabbits, soon there will be coyotes, balance is the most reliable thing in our world. The study of nature and business has amazing similarities. This country has all the needed elements, it just needs to organize them. It is also a healthy thing to go through something like this current crisis every decade or two.”

muchas gracias

sdr
“if there are too many rabbits, soon there will be coyotes”

[sdrealtor]

TG
This is my absolute all-time favorite post of yours. I have copied it into a word document and will some be using your brilliance “if there are too many rabbits, soon there will be coyotes” throughout my life. You will be given proper credit for it but likely under the some randon guy on the Internet nom de plure. I like it so much, that I hope people read it again for its simple brilliance. If you show up at the meet-up and I am able to make it also there will be a nice liquid gift for you.

The sentiment of that post sums up the very reason for my existence and peristence on hanging around this blog on a near daily basis for about 3 years. When I 1st arrived her there was no balance on the forums and that was the role I took. I was the rabbit for all the coyotes to chase. It was intentional and alternatively painful/fun at times. All of it calculated to help maintain balance. These words could have come out of my mouth if I was capable of writing them myself. So here it is again piggies, for your reading pleasure.

“What looks like optimism is merely observations from my life, your results may vary. I’ve spent probably more than half of my scheduled time on the planet and what I’ve learned makes me understand that balance will find me, I don;t need to seek it. When things look like they are great and will only get better, they won’t, conversely when things look like they can only get worse, they wont. Pendulums swing and they always swing back, if there are too many rabbits, soon there will be coyotes, balance is the most reliable thing in our world. The study of nature and business has amazing similarities. This country has all the needed elements, it just needs to organize them. It is also a healthy thing to go through something like this current crisis every decade or two.”

muchas gracias

sdr
“if there are too many rabbits, soon there will be coyotes”

[moneymaker]

“By the way, if you walk away, you shouldn’t think of yourself as a victim. Because you will be relying on taxpayer funds to bail you out of your mortgage, I would characterize you as more of a welfare queen. A housing welfare queen. That’s you.”-TheBreeze

Are you one of those slumlords Breeze? It just makes me sick to hear a slumlord denigrate one of their potential renters. We all benefited from the loose money one way or another and now we will all be paying for it. By the way TG, I would like to believe in karma, and live my life accordingly, but I think certain groups of people live outside of karma, i.e. slumlords and career criminals. That is why, when analyzed, karma is much like religion, you either believe or you don’t.
I enjoy the predator/prey aspect of the economic cycle as well.

[moneymaker]

“By the way, if you walk away, you shouldn’t think of yourself as a victim. Because you will be relying on taxpayer funds to bail you out of your mortgage, I would characterize you as more of a welfare queen. A housing welfare queen. That’s you.”-TheBreeze

Are you one of those slumlords Breeze? It just makes me sick to hear a slumlord denigrate one of their potential renters. We all benefited from the loose money one way or another and now we will all be paying for it. By the way TG, I would like to believe in karma, and live my life accordingly, but I think certain groups of people live outside of karma, i.e. slumlords and career criminals. That is why, when analyzed, karma is much like religion, you either believe or you don’t.
I enjoy the predator/prey aspect of the economic cycle as well.

[moneymaker]

“By the way, if you walk away, you shouldn’t think of yourself as a victim. Because you will be relying on taxpayer funds to bail you out of your mortgage, I would characterize you as more of a welfare queen. A housing welfare queen. That’s you.”-TheBreeze

Are you one of those slumlords Breeze? It just makes me sick to hear a slumlord denigrate one of their potential renters. We all benefited from the loose money one way or another and now we will all be paying for it. By the way TG, I would like to believe in karma, and live my life accordingly, but I think certain groups of people live outside of karma, i.e. slumlords and career criminals. That is why, when analyzed, karma is much like religion, you either believe or you don’t.
I enjoy the predator/prey aspect of the economic cycle as well.

[moneymaker]

“By the way, if you walk away, you shouldn’t think of yourself as a victim. Because you will be relying on taxpayer funds to bail you out of your mortgage, I would characterize you as more of a welfare queen. A housing welfare queen. That’s you.”-TheBreeze

Are you one of those slumlords Breeze? It just makes me sick to hear a slumlord denigrate one of their potential renters. We all benefited from the loose money one way or another and now we will all be paying for it. By the way TG, I would like to believe in karma, and live my life accordingly, but I think certain groups of people live outside of karma, i.e. slumlords and career criminals. That is why, when analyzed, karma is much like religion, you either believe or you don’t.
I enjoy the predator/prey aspect of the economic cycle as well.

[moneymaker]

“By the way, if you walk away, you shouldn’t think of yourself as a victim. Because you will be relying on taxpayer funds to bail you out of your mortgage, I would characterize you as more of a welfare queen. A housing welfare queen. That’s you.”-TheBreeze

Are you one of those slumlords Breeze? It just makes me sick to hear a slumlord denigrate one of their potential renters. We all benefited from the loose money one way or another and now we will all be paying for it. By the way TG, I would like to believe in karma, and live my life accordingly, but I think certain groups of people live outside of karma, i.e. slumlords and career criminals. That is why, when analyzed, karma is much like religion, you either believe or you don’t.
I enjoy the predator/prey aspect of the economic cycle as well.

[Arraya]

There is a rabbit shortage and too many coyotes. That is the problem. The corp-gov nexus is the coyote and you are all rabbits. The system has gone parasitic. Daddy is molesting the kids and the kids get ridiculed for getting molested and we praise the molester. This is a sick society.

Canabilistic capitalism coupled with sociopathic self interest sprinkled with state sponsored gangsterism. It won’t last long people. The wheels are coming off the empire. You need to broaden your view.

To think that this is a normal “cycle” is at most naive and at worst hopelessly delusional.

[Arraya]

There is a rabbit shortage and too many coyotes. That is the problem. The corp-gov nexus is the coyote and you are all rabbits. The system has gone parasitic. Daddy is molesting the kids and the kids get ridiculed for getting molested and we praise the molester. This is a sick society.

Canabilistic capitalism coupled with sociopathic self interest sprinkled with state sponsored gangsterism. It won’t last long people. The wheels are coming off the empire. You need to broaden your view.

To think that this is a normal “cycle” is at most naive and at worst hopelessly delusional.

[Arraya]

There is a rabbit shortage and too many coyotes. That is the problem. The corp-gov nexus is the coyote and you are all rabbits. The system has gone parasitic. Daddy is molesting the kids and the kids get ridiculed for getting molested and we praise the molester. This is a sick society.

Canabilistic capitalism coupled with sociopathic self interest sprinkled with state sponsored gangsterism. It won’t last long people. The wheels are coming off the empire. You need to broaden your view.

To think that this is a normal “cycle” is at most naive and at worst hopelessly delusional.

[Arraya]

There is a rabbit shortage and too many coyotes. That is the problem. The corp-gov nexus is the coyote and you are all rabbits. The system has gone parasitic. Daddy is molesting the kids and the kids get ridiculed for getting molested and we praise the molester. This is a sick society.

Canabilistic capitalism coupled with sociopathic self interest sprinkled with state sponsored gangsterism. It won’t last long people. The wheels are coming off the empire. You need to broaden your view.

To think that this is a normal “cycle” is at most naive and at worst hopelessly delusional.

[Author]

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