Wells will dump soon

[temeculaguy]

Not the canned food thing again!!! Everything will be fine, regardless of what happens. Some areas have seen 50-60% drop from peak and no riots, there is still food. Does anyone ever consider who gets involved in riots? 16-25 year old unemployed males are the driving force in most any riot. France has been dealing with them for a while, in Ireland it was almost a more popular sport than soccer a decade or two ago. Who loses money on real estate? Usually people 30-60, not quite the riot demographic.

[NotCranky]

Wasn’t that a hit song?
“I’m living in my own private Hooverville.”

[NotCranky]

Wasn’t that a hit song?
“I’m living in my own private Hooverville.”

[NotCranky]

Wasn’t that a hit song?
“I’m living in my own private Hooverville.”

[NotCranky]

Wasn’t that a hit song?
“I’m living in my own private Hooverville.”

[NotCranky]

Wasn’t that a hit song?
“I’m living in my own private Hooverville.”

[permabear]

[quote=temeculaguy]Not the canned food thing again!!! Everything will be fine, regardless of what happens. Some areas have seen 50-60% drop from peak and no riots, there is still food. Does anyone ever consider who gets involved in riots? 16-25 year old unemployed males are the driving force in most any riot.[/quote]
Not when it comes to being displaced from your home due to foreclosure/eviction. You should read the link I posted above.

We haven’t seen any major civil unrest because the people that have been displaced thus far are people that put 0% down and were basically renting.

If we cut into “real” equity – people that have been paying on-time for 15 years see their equity disappear, it could be a different story. Especially against the current backdrop of no-consequence walking away. We’ll see…

[permabear]

[quote=temeculaguy]Not the canned food thing again!!! Everything will be fine, regardless of what happens. Some areas have seen 50-60% drop from peak and no riots, there is still food. Does anyone ever consider who gets involved in riots? 16-25 year old unemployed males are the driving force in most any riot.[/quote]
Not when it comes to being displaced from your home due to foreclosure/eviction. You should read the link I posted above.

We haven’t seen any major civil unrest because the people that have been displaced thus far are people that put 0% down and were basically renting.

If we cut into “real” equity – people that have been paying on-time for 15 years see their equity disappear, it could be a different story. Especially against the current backdrop of no-consequence walking away. We’ll see…

[permabear]

[quote=temeculaguy]Not the canned food thing again!!! Everything will be fine, regardless of what happens. Some areas have seen 50-60% drop from peak and no riots, there is still food. Does anyone ever consider who gets involved in riots? 16-25 year old unemployed males are the driving force in most any riot.[/quote]
Not when it comes to being displaced from your home due to foreclosure/eviction. You should read the link I posted above.

We haven’t seen any major civil unrest because the people that have been displaced thus far are people that put 0% down and were basically renting.

If we cut into “real” equity – people that have been paying on-time for 15 years see their equity disappear, it could be a different story. Especially against the current backdrop of no-consequence walking away. We’ll see…

[permabear]

[quote=temeculaguy]Not the canned food thing again!!! Everything will be fine, regardless of what happens. Some areas have seen 50-60% drop from peak and no riots, there is still food. Does anyone ever consider who gets involved in riots? 16-25 year old unemployed males are the driving force in most any riot.[/quote]
Not when it comes to being displaced from your home due to foreclosure/eviction. You should read the link I posted above.

We haven’t seen any major civil unrest because the people that have been displaced thus far are people that put 0% down and were basically renting.

If we cut into “real” equity – people that have been paying on-time for 15 years see their equity disappear, it could be a different story. Especially against the current backdrop of no-consequence walking away. We’ll see…

[permabear]

[quote=temeculaguy]Not the canned food thing again!!! Everything will be fine, regardless of what happens. Some areas have seen 50-60% drop from peak and no riots, there is still food. Does anyone ever consider who gets involved in riots? 16-25 year old unemployed males are the driving force in most any riot.[/quote]
Not when it comes to being displaced from your home due to foreclosure/eviction. You should read the link I posted above.

We haven’t seen any major civil unrest because the people that have been displaced thus far are people that put 0% down and were basically renting.

If we cut into “real” equity – people that have been paying on-time for 15 years see their equity disappear, it could be a different story. Especially against the current backdrop of no-consequence walking away. We’ll see…

[moneymaker]

[quote=permabear]The major banks aren’t dummies. Even if they’re changing their foreclosure rules, there’s no way they’re going to dump thousands of properties on the market overnight. And even if they tried, the government would intervene to present incentives for them NOT to, because they know it would set off a massive deflationary spiral that would tank the entire economy. One example:

http://activerain.com/blogsview/1243528/is-the-fdic-killing-short-sales-

I know lots of people on this forum are waiting for houses to drop another 30-40% so they can get them at rock-bottom prices. Be careful what you wish for. If that were to happen, there would likely be riots in the streets and major police action. We’re starting to cut into “real” gains at this point – eg equity from 10+ years ago, pre-bubble.

What is far more likely is we will continue to see this walking-on-eggshells slow drip down of a handful of REO’s coming onto the market each month over the next 5+ years. The banks aren’t dumb. They know if they threw everything onto the market, it would tank prices, which would only screw themselves. They’re going to drag it out as long as possible, and barring another major liquidity crisis, that will be years and years.[/quote]

The first bank to unload will be the winner and the last bank to unload will be the loser-we will see I guess.

[moneymaker]

[quote=permabear]The major banks aren’t dummies. Even if they’re changing their foreclosure rules, there’s no way they’re going to dump thousands of properties on the market overnight. And even if they tried, the government would intervene to present incentives for them NOT to, because they know it would set off a massive deflationary spiral that would tank the entire economy. One example:

http://activerain.com/blogsview/1243528/is-the-fdic-killing-short-sales-

I know lots of people on this forum are waiting for houses to drop another 30-40% so they can get them at rock-bottom prices. Be careful what you wish for. If that were to happen, there would likely be riots in the streets and major police action. We’re starting to cut into “real” gains at this point – eg equity from 10+ years ago, pre-bubble.

What is far more likely is we will continue to see this walking-on-eggshells slow drip down of a handful of REO’s coming onto the market each month over the next 5+ years. The banks aren’t dumb. They know if they threw everything onto the market, it would tank prices, which would only screw themselves. They’re going to drag it out as long as possible, and barring another major liquidity crisis, that will be years and years.[/quote]

The first bank to unload will be the winner and the last bank to unload will be the loser-we will see I guess.

[moneymaker]

[quote=permabear]The major banks aren’t dummies. Even if they’re changing their foreclosure rules, there’s no way they’re going to dump thousands of properties on the market overnight. And even if they tried, the government would intervene to present incentives for them NOT to, because they know it would set off a massive deflationary spiral that would tank the entire economy. One example:

http://activerain.com/blogsview/1243528/is-the-fdic-killing-short-sales-

I know lots of people on this forum are waiting for houses to drop another 30-40% so they can get them at rock-bottom prices. Be careful what you wish for. If that were to happen, there would likely be riots in the streets and major police action. We’re starting to cut into “real” gains at this point – eg equity from 10+ years ago, pre-bubble.

What is far more likely is we will continue to see this walking-on-eggshells slow drip down of a handful of REO’s coming onto the market each month over the next 5+ years. The banks aren’t dumb. They know if they threw everything onto the market, it would tank prices, which would only screw themselves. They’re going to drag it out as long as possible, and barring another major liquidity crisis, that will be years and years.[/quote]

The first bank to unload will be the winner and the last bank to unload will be the loser-we will see I guess.

[moneymaker]

[quote=permabear]The major banks aren’t dummies. Even if they’re changing their foreclosure rules, there’s no way they’re going to dump thousands of properties on the market overnight. And even if they tried, the government would intervene to present incentives for them NOT to, because they know it would set off a massive deflationary spiral that would tank the entire economy. One example:

http://activerain.com/blogsview/1243528/is-the-fdic-killing-short-sales-

I know lots of people on this forum are waiting for houses to drop another 30-40% so they can get them at rock-bottom prices. Be careful what you wish for. If that were to happen, there would likely be riots in the streets and major police action. We’re starting to cut into “real” gains at this point – eg equity from 10+ years ago, pre-bubble.

What is far more likely is we will continue to see this walking-on-eggshells slow drip down of a handful of REO’s coming onto the market each month over the next 5+ years. The banks aren’t dumb. They know if they threw everything onto the market, it would tank prices, which would only screw themselves. They’re going to drag it out as long as possible, and barring another major liquidity crisis, that will be years and years.[/quote]

The first bank to unload will be the winner and the last bank to unload will be the loser-we will see I guess.

[Author]

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