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SD Realtor.
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November 30, 2007 at 3:56 PM #105950November 30, 2007 at 3:59 PM #105806
betting on fall
ParticipantSan Diego-
I did mean the government bail out as a joke. I do admire you for trying to make the most rational descion based on the reality of your situation. Unlike folks whose first reaction is to demand help from someone else.But I would not be surprised to see the current “rate freeze” proposal move up market to folks who got those stupid option ARMs- many of your neighbors. You, of course, would get punished for buying with a more responsible loan.
November 30, 2007 at 3:59 PM #105896ParticipantSan Diego-
I did mean the government bail out as a joke. I do admire you for trying to make the most rational descion based on the reality of your situation. Unlike folks whose first reaction is to demand help from someone else.But I would not be surprised to see the current “rate freeze” proposal move up market to folks who got those stupid option ARMs- many of your neighbors. You, of course, would get punished for buying with a more responsible loan.
November 30, 2007 at 3:59 PM #105929ParticipantSan Diego-
I did mean the government bail out as a joke. I do admire you for trying to make the most rational descion based on the reality of your situation. Unlike folks whose first reaction is to demand help from someone else.But I would not be surprised to see the current “rate freeze” proposal move up market to folks who got those stupid option ARMs- many of your neighbors. You, of course, would get punished for buying with a more responsible loan.
November 30, 2007 at 3:59 PM #105937ParticipantSan Diego-
I did mean the government bail out as a joke. I do admire you for trying to make the most rational descion based on the reality of your situation. Unlike folks whose first reaction is to demand help from someone else.But I would not be surprised to see the current “rate freeze” proposal move up market to folks who got those stupid option ARMs- many of your neighbors. You, of course, would get punished for buying with a more responsible loan.
November 30, 2007 at 3:59 PM #105955ParticipantSan Diego-
I did mean the government bail out as a joke. I do admire you for trying to make the most rational descion based on the reality of your situation. Unlike folks whose first reaction is to demand help from someone else.But I would not be surprised to see the current “rate freeze” proposal move up market to folks who got those stupid option ARMs- many of your neighbors. You, of course, would get punished for buying with a more responsible loan.
November 30, 2007 at 4:03 PM #105810sandiego
ParticipantMy bad choice was buying a home to live in. I wasn’t counting on the 45% equity and I never “realized” it because I didn’t sell.
I would be perfectly happy if my home had stayed flat for the past 4 years.
Instead, Countywide et al, made a bunch of bad loans to people who couldn’t afford them causing them to foreclose. Now Countrywide et al is dumping these units back on the market at reduced prices because they have to get rid of them.
If Countrywide hadn’t loaned $900,000 to 25 year olds at teaser rates, no one would have been able to afford the units. Therefore, prices would have been tempered and we wouldn’t have the overbuilding and wild price drops.
Units in concrete buildings are now trading near replacement costs.
November 30, 2007 at 4:03 PM #105901ParticipantMy bad choice was buying a home to live in. I wasn’t counting on the 45% equity and I never “realized” it because I didn’t sell.
I would be perfectly happy if my home had stayed flat for the past 4 years.
Instead, Countywide et al, made a bunch of bad loans to people who couldn’t afford them causing them to foreclose. Now Countrywide et al is dumping these units back on the market at reduced prices because they have to get rid of them.
If Countrywide hadn’t loaned $900,000 to 25 year olds at teaser rates, no one would have been able to afford the units. Therefore, prices would have been tempered and we wouldn’t have the overbuilding and wild price drops.
Units in concrete buildings are now trading near replacement costs.
November 30, 2007 at 4:03 PM #105934ParticipantMy bad choice was buying a home to live in. I wasn’t counting on the 45% equity and I never “realized” it because I didn’t sell.
I would be perfectly happy if my home had stayed flat for the past 4 years.
Instead, Countywide et al, made a bunch of bad loans to people who couldn’t afford them causing them to foreclose. Now Countrywide et al is dumping these units back on the market at reduced prices because they have to get rid of them.
If Countrywide hadn’t loaned $900,000 to 25 year olds at teaser rates, no one would have been able to afford the units. Therefore, prices would have been tempered and we wouldn’t have the overbuilding and wild price drops.
Units in concrete buildings are now trading near replacement costs.
November 30, 2007 at 4:03 PM #105942ParticipantMy bad choice was buying a home to live in. I wasn’t counting on the 45% equity and I never “realized” it because I didn’t sell.
I would be perfectly happy if my home had stayed flat for the past 4 years.
Instead, Countywide et al, made a bunch of bad loans to people who couldn’t afford them causing them to foreclose. Now Countrywide et al is dumping these units back on the market at reduced prices because they have to get rid of them.
If Countrywide hadn’t loaned $900,000 to 25 year olds at teaser rates, no one would have been able to afford the units. Therefore, prices would have been tempered and we wouldn’t have the overbuilding and wild price drops.
Units in concrete buildings are now trading near replacement costs.
November 30, 2007 at 4:03 PM #105960ParticipantMy bad choice was buying a home to live in. I wasn’t counting on the 45% equity and I never “realized” it because I didn’t sell.
I would be perfectly happy if my home had stayed flat for the past 4 years.
Instead, Countywide et al, made a bunch of bad loans to people who couldn’t afford them causing them to foreclose. Now Countrywide et al is dumping these units back on the market at reduced prices because they have to get rid of them.
If Countrywide hadn’t loaned $900,000 to 25 year olds at teaser rates, no one would have been able to afford the units. Therefore, prices would have been tempered and we wouldn’t have the overbuilding and wild price drops.
Units in concrete buildings are now trading near replacement costs.
November 30, 2007 at 4:15 PM #105815waterboy
ParticipantIf you did 100% financing I would walk….actually run. It will be years before those units get back to their peak price
November 30, 2007 at 4:15 PM #105906ParticipantIf you did 100% financing I would walk….actually run. It will be years before those units get back to their peak price
November 30, 2007 at 4:15 PM #105939ParticipantIf you did 100% financing I would walk….actually run. It will be years before those units get back to their peak price
November 30, 2007 at 4:15 PM #105947ParticipantIf you did 100% financing I would walk….actually run. It will be years before those units get back to their peak price
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