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November 16, 2008 at 10:54 AM #305893November 16, 2008 at 4:30 PM #305520
CA renter
ParticipantI’m happy for the correction to normal prices because regular, working-class people should be able to buy regular, working-class homes for their families.
Housing is shelter, and should not be used for speculation, IMHO. How wonderful it would be if people could pay all their housing costs with 30% or less of their income, so the rest of their money could be used for savings and living life.
The obsession with housing is a sickness, and marks a level of economic desperation when people think housing (or other investments) is the only way to make a living. We’ve denigrated work and the people who do real work (blue-collar workers) to the point that nobody wants to do it anymore, and we all want to be professional gamblers. Notice the anti-union, anti-worker attitude that is so prevalent today? This attitude is directly related to the environment that nourished the credit bubble.
November 16, 2008 at 4:30 PM #305887ParticipantI’m happy for the correction to normal prices because regular, working-class people should be able to buy regular, working-class homes for their families.
Housing is shelter, and should not be used for speculation, IMHO. How wonderful it would be if people could pay all their housing costs with 30% or less of their income, so the rest of their money could be used for savings and living life.
The obsession with housing is a sickness, and marks a level of economic desperation when people think housing (or other investments) is the only way to make a living. We’ve denigrated work and the people who do real work (blue-collar workers) to the point that nobody wants to do it anymore, and we all want to be professional gamblers. Notice the anti-union, anti-worker attitude that is so prevalent today? This attitude is directly related to the environment that nourished the credit bubble.
November 16, 2008 at 4:30 PM #305899ParticipantI’m happy for the correction to normal prices because regular, working-class people should be able to buy regular, working-class homes for their families.
Housing is shelter, and should not be used for speculation, IMHO. How wonderful it would be if people could pay all their housing costs with 30% or less of their income, so the rest of their money could be used for savings and living life.
The obsession with housing is a sickness, and marks a level of economic desperation when people think housing (or other investments) is the only way to make a living. We’ve denigrated work and the people who do real work (blue-collar workers) to the point that nobody wants to do it anymore, and we all want to be professional gamblers. Notice the anti-union, anti-worker attitude that is so prevalent today? This attitude is directly related to the environment that nourished the credit bubble.
November 16, 2008 at 4:30 PM #305916ParticipantI’m happy for the correction to normal prices because regular, working-class people should be able to buy regular, working-class homes for their families.
Housing is shelter, and should not be used for speculation, IMHO. How wonderful it would be if people could pay all their housing costs with 30% or less of their income, so the rest of their money could be used for savings and living life.
The obsession with housing is a sickness, and marks a level of economic desperation when people think housing (or other investments) is the only way to make a living. We’ve denigrated work and the people who do real work (blue-collar workers) to the point that nobody wants to do it anymore, and we all want to be professional gamblers. Notice the anti-union, anti-worker attitude that is so prevalent today? This attitude is directly related to the environment that nourished the credit bubble.
November 16, 2008 at 4:30 PM #305978ParticipantI’m happy for the correction to normal prices because regular, working-class people should be able to buy regular, working-class homes for their families.
Housing is shelter, and should not be used for speculation, IMHO. How wonderful it would be if people could pay all their housing costs with 30% or less of their income, so the rest of their money could be used for savings and living life.
The obsession with housing is a sickness, and marks a level of economic desperation when people think housing (or other investments) is the only way to make a living. We’ve denigrated work and the people who do real work (blue-collar workers) to the point that nobody wants to do it anymore, and we all want to be professional gamblers. Notice the anti-union, anti-worker attitude that is so prevalent today? This attitude is directly related to the environment that nourished the credit bubble.
November 16, 2008 at 9:14 PM #305665socrattt
ParticipantIt’s a bitter sweet happiness. From the perspective of home prices, we couldn’t be more happy! From an economic perspective their isn’t one Pigg that is excited about this Country’s future. We all prayed for affordability but never dreamed of this global economic collapse which will affect all of us.
I don’t know about anyone else here but I sure would trade the current home prices for a solution to this global economic problem and America’s future tax implications due to this mortgage crisis.
November 16, 2008 at 9:14 PM #306032ParticipantIt’s a bitter sweet happiness. From the perspective of home prices, we couldn’t be more happy! From an economic perspective their isn’t one Pigg that is excited about this Country’s future. We all prayed for affordability but never dreamed of this global economic collapse which will affect all of us.
I don’t know about anyone else here but I sure would trade the current home prices for a solution to this global economic problem and America’s future tax implications due to this mortgage crisis.
November 16, 2008 at 9:14 PM #306044ParticipantIt’s a bitter sweet happiness. From the perspective of home prices, we couldn’t be more happy! From an economic perspective their isn’t one Pigg that is excited about this Country’s future. We all prayed for affordability but never dreamed of this global economic collapse which will affect all of us.
I don’t know about anyone else here but I sure would trade the current home prices for a solution to this global economic problem and America’s future tax implications due to this mortgage crisis.
November 16, 2008 at 9:14 PM #306062ParticipantIt’s a bitter sweet happiness. From the perspective of home prices, we couldn’t be more happy! From an economic perspective their isn’t one Pigg that is excited about this Country’s future. We all prayed for affordability but never dreamed of this global economic collapse which will affect all of us.
I don’t know about anyone else here but I sure would trade the current home prices for a solution to this global economic problem and America’s future tax implications due to this mortgage crisis.
November 16, 2008 at 9:14 PM #306123ParticipantIt’s a bitter sweet happiness. From the perspective of home prices, we couldn’t be more happy! From an economic perspective their isn’t one Pigg that is excited about this Country’s future. We all prayed for affordability but never dreamed of this global economic collapse which will affect all of us.
I don’t know about anyone else here but I sure would trade the current home prices for a solution to this global economic problem and America’s future tax implications due to this mortgage crisis.
November 17, 2008 at 12:48 AM #305719SD Realtor
ParticipantThe average homeowner should be happy about a market that is based on fundamentals. Your father advised you to sell your home because he saw that the market had lost all fundamental meaning during the bubble years. Taking advantage of that was an example of impeccable timing. He also detected that the instability would be followed by an inevitable correction. As a property owner and someone who is looking for another home I am also hoping for prices to continue the inevitable correction. I am not happy about the economy being in the trash and about friends losing jobs. Yet in order to at least build a new base for a healthy housing market the more that the housing market is allowed to correct free of subsidy and bailouts, the stronger it will be in the long run. Unfortunately many of the bailouts and loan reworks will only serve to produce a new batch of distressed homeowners 5 years down the line.
At any rate going back to your question, a return to valuations that are in line with a lower multiple of the median income, the better for all of us, whether we are current homeowners or not.
November 17, 2008 at 12:48 AM #306086ParticipantThe average homeowner should be happy about a market that is based on fundamentals. Your father advised you to sell your home because he saw that the market had lost all fundamental meaning during the bubble years. Taking advantage of that was an example of impeccable timing. He also detected that the instability would be followed by an inevitable correction. As a property owner and someone who is looking for another home I am also hoping for prices to continue the inevitable correction. I am not happy about the economy being in the trash and about friends losing jobs. Yet in order to at least build a new base for a healthy housing market the more that the housing market is allowed to correct free of subsidy and bailouts, the stronger it will be in the long run. Unfortunately many of the bailouts and loan reworks will only serve to produce a new batch of distressed homeowners 5 years down the line.
At any rate going back to your question, a return to valuations that are in line with a lower multiple of the median income, the better for all of us, whether we are current homeowners or not.
November 17, 2008 at 12:48 AM #306099ParticipantThe average homeowner should be happy about a market that is based on fundamentals. Your father advised you to sell your home because he saw that the market had lost all fundamental meaning during the bubble years. Taking advantage of that was an example of impeccable timing. He also detected that the instability would be followed by an inevitable correction. As a property owner and someone who is looking for another home I am also hoping for prices to continue the inevitable correction. I am not happy about the economy being in the trash and about friends losing jobs. Yet in order to at least build a new base for a healthy housing market the more that the housing market is allowed to correct free of subsidy and bailouts, the stronger it will be in the long run. Unfortunately many of the bailouts and loan reworks will only serve to produce a new batch of distressed homeowners 5 years down the line.
At any rate going back to your question, a return to valuations that are in line with a lower multiple of the median income, the better for all of us, whether we are current homeowners or not.
November 17, 2008 at 12:48 AM #306117ParticipantThe average homeowner should be happy about a market that is based on fundamentals. Your father advised you to sell your home because he saw that the market had lost all fundamental meaning during the bubble years. Taking advantage of that was an example of impeccable timing. He also detected that the instability would be followed by an inevitable correction. As a property owner and someone who is looking for another home I am also hoping for prices to continue the inevitable correction. I am not happy about the economy being in the trash and about friends losing jobs. Yet in order to at least build a new base for a healthy housing market the more that the housing market is allowed to correct free of subsidy and bailouts, the stronger it will be in the long run. Unfortunately many of the bailouts and loan reworks will only serve to produce a new batch of distressed homeowners 5 years down the line.
At any rate going back to your question, a return to valuations that are in line with a lower multiple of the median income, the better for all of us, whether we are current homeowners or not.
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