UT: Foreclosure trend rising as hopes fall

[JWM in SD]

“I hope it doesn’t happen. It’s gonna make people wish that it was only as bad as Enron or Worldcom.”

Yes, and look what happened in response to those two issues:Sarbanes Oxley. The effing bane of my existence or any other publicly held or considering going public company in the US right now. The pendulum swung too far in that one and the credit crisis makes those two look like small change. How far will the pendulum swing in the lending market after the scope of this problem becomes more obvious??

Anyone who thinks that SD home prices can’t decline as much 50% doesn’t know WTF they are talking about because they do not understand far reaching impacts of the credit markets and how they will react. This is why I take issue with those giving advise to would be buyers posting here that it is only an emotional issue and if you can afford to buy and you have a long term view it wil be okay. That is utter bullshit because this is unprecedented and nobody knows how bad it is going to get…only that it has the potential to get really ugly.

Ayone looking to buy a home right now in SD might as well have been standing at the shoreline in Phuket when the tsunami rolled in. You Just Don’t Get It.

[HLS]

Never forget about Banda Aceh http://news.nationalgeographic.com/news/2005/01/photogalleries/tsunami_photos/index.html

“Many eyewitnesses have compared the post-tsunami scene in Banda Aceh to that of Hiroshima, Japan, after it was hit by an atomic bomb during World War II ”
*****************************************
JWM, You are right..
Anybody who wants to compare this debacle to 1995’ish just doesn’t get it.
The fall in the 90’s was with people who ALL had something invested….. 100% loans, Stated Loans DIDN’T EXIST and people still were upside down and walked….

If I said that 25 times the number of people bought homes with no $ mo’ down, in this last run it might be an understatement, but even if only 10x is closer, do the math.

I can guarantee you that the number of people who bought homes in the recent 4-5 year run with no or little “skin in the game” is many mutiples of those that did come up with a down in the early 90’s, who still lost it all.

To those that say prices come back, this chart is my answer to that statement. http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=palm&sid=0&o_symb=palm&freq=2&time=13&x=48&y=14

[HLS]

Never forget about Banda Aceh http://news.nationalgeographic.com/news/2005/01/photogalleries/tsunami_photos/index.html

“Many eyewitnesses have compared the post-tsunami scene in Banda Aceh to that of Hiroshima, Japan, after it was hit by an atomic bomb during World War II ”
*****************************************
JWM, You are right..
Anybody who wants to compare this debacle to 1995’ish just doesn’t get it.
The fall in the 90’s was with people who ALL had something invested….. 100% loans, Stated Loans DIDN’T EXIST and people still were upside down and walked….

If I said that 25 times the number of people bought homes with no $ mo’ down, in this last run it might be an understatement, but even if only 10x is closer, do the math.

I can guarantee you that the number of people who bought homes in the recent 4-5 year run with no or little “skin in the game” is many mutiples of those that did come up with a down in the early 90’s, who still lost it all.

To those that say prices come back, this chart is my answer to that statement. http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=palm&sid=0&o_symb=palm&freq=2&time=13&x=48&y=14

[HLS]

Never forget about Banda Aceh http://news.nationalgeographic.com/news/2005/01/photogalleries/tsunami_photos/index.html

“Many eyewitnesses have compared the post-tsunami scene in Banda Aceh to that of Hiroshima, Japan, after it was hit by an atomic bomb during World War II ”
*****************************************
JWM, You are right..
Anybody who wants to compare this debacle to 1995’ish just doesn’t get it.
The fall in the 90’s was with people who ALL had something invested….. 100% loans, Stated Loans DIDN’T EXIST and people still were upside down and walked….

If I said that 25 times the number of people bought homes with no $ mo’ down, in this last run it might be an understatement, but even if only 10x is closer, do the math.

I can guarantee you that the number of people who bought homes in the recent 4-5 year run with no or little “skin in the game” is many mutiples of those that did come up with a down in the early 90’s, who still lost it all.

To those that say prices come back, this chart is my answer to that statement. http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=palm&sid=0&o_symb=palm&freq=2&time=13&x=48&y=14

[no_such_reality]

I like this one better HLS. QQQ

It’s been seven years and it’s rebounded with prices doubling in the last four and half years; It is still only worth a smidgeon over 1/3 of what it was at peak.

[no_such_reality]

I like this one better HLS. QQQ

It’s been seven years and it’s rebounded with prices doubling in the last four and half years; It is still only worth a smidgeon over 1/3 of what it was at peak.

[no_such_reality]

I like this one better HLS. QQQ

It’s been seven years and it’s rebounded with prices doubling in the last four and half years; It is still only worth a smidgeon over 1/3 of what it was at peak.

[JWM in SD]

My wife was in Banda Aceh this time last year with the USNS Mercy on a humanitarian mission. I referred to Phuket because it’s better known than Banda Aceh.

[JWM in SD]

My wife was in Banda Aceh this time last year with the USNS Mercy on a humanitarian mission. I referred to Phuket because it’s better known than Banda Aceh.

[JWM in SD]

My wife was in Banda Aceh this time last year with the USNS Mercy on a humanitarian mission. I referred to Phuket because it’s better known than Banda Aceh.

[HLS]

oops

[HLS]

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[HLS]

oops

[HLS]

NSR,
How can you like QQQ better ????

PALM was $1,100.00 down to $14.00
please look at chart again!http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=palm&sid=0&o_symb=palm&freq=2&time=13&x=48&y=14

Loss of 98.75%

[HLS]

NSR,
How can you like QQQ better ????

PALM was $1,100.00 down to $14.00
please look at chart again!http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=palm&sid=0&o_symb=palm&freq=2&time=13&x=48&y=14

Loss of 98.75%

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