[5yearwaiter]

[quote=CA renter]Being an admitted uber-bear, those still look over-priced. Some other units were selling in the $150K+ range in the late 90s, and I think we’ll see that again for condos.

Not sure what your situation is, but if you plan on living there “for life” the stairs might be an issue. Then you have the HOA issues…

Wait ’til $180K or less! ;)[/quote]

I agree that ia absolutely overpriced as per that area and the year built. I don’t think it is worth of 150K at all even drop down

[5yearwaiter]

[quote=kewp]Either there was no housing bubble, or, perhaps the price of oil is not the best fundamental measure.

Or, there was inflation that manifested itself in real estate and oil prices?[/quote]

Well you can’t do the math this way, the fact is house prices were increased day by day such a high in 2003 to 2005 period, as oil is no where concerned those days at least the spike in oil is not in the limits of comparision. So the bottom line is if you put ‘oil’ is a variation factor in your math we never able to get this solve.

[5yearwaiter]

[quote=kewp]Either there was no housing bubble, or, perhaps the price of oil is not the best fundamental measure.

Or, there was inflation that manifested itself in real estate and oil prices?[/quote]

Well you can’t do the math this way, the fact is house prices were increased day by day such a high in 2003 to 2005 period, as oil is no where concerned those days at least the spike in oil is not in the limits of comparision. So the bottom line is if you put ‘oil’ is a variation factor in your math we never able to get this solve.

[5yearwaiter]

[quote=kewp]Either there was no housing bubble, or, perhaps the price of oil is not the best fundamental measure.

Or, there was inflation that manifested itself in real estate and oil prices?[/quote]

Well you can’t do the math this way, the fact is house prices were increased day by day such a high in 2003 to 2005 period, as oil is no where concerned those days at least the spike in oil is not in the limits of comparision. So the bottom line is if you put ‘oil’ is a variation factor in your math we never able to get this solve.

[5yearwaiter]

[quote=kewp]Either there was no housing bubble, or, perhaps the price of oil is not the best fundamental measure.

Or, there was inflation that manifested itself in real estate and oil prices?[/quote]

Well you can’t do the math this way, the fact is house prices were increased day by day such a high in 2003 to 2005 period, as oil is no where concerned those days at least the spike in oil is not in the limits of comparision. So the bottom line is if you put ‘oil’ is a variation factor in your math we never able to get this solve.

[5yearwaiter]

[quote=kewp]Either there was no housing bubble, or, perhaps the price of oil is not the best fundamental measure.

Or, there was inflation that manifested itself in real estate and oil prices?[/quote]

Well you can’t do the math this way, the fact is house prices were increased day by day such a high in 2003 to 2005 period, as oil is no where concerned those days at least the spike in oil is not in the limits of comparision. So the bottom line is if you put ‘oil’ is a variation factor in your math we never able to get this solve.

[5yearwaiter]

[quote=cooprider][quote=5yearwaiter]Is any one else thinking about the new housing bill that gave flex to “whoever in the ARM need to refinance now may get blessed with 87 % of new apprisal value”?. As per this, do you still think the home prices may go down to 2000 level[/quote]

The housing bill is a joke. It’s only a bail out for Fannie and Freddie, and it will do very little in CA. To be able to refinance at a lower rate the banks have to agree to take an additional 10% loss in a market like CA where prices have already dropped 30% or more. Even if the banks will do that the homeowner still has to qualify under 30 year fixed, while actually proving their income. Then when they go to sell up to 50% of their equity goes back to the government.

What do you think people are going to do? They’ll just stop paying and wait for the Sherriff to come knocking.[/quote]

Are you sure as per the new housing bill when they sell their 50% equity goes to Government?. Is this the total equity or the equity just paid at the time of 30 mortgage finance? I couldn’t understand what this new bill exactly explains all these.

[5yearwaiter]

[quote=cooprider][quote=5yearwaiter]Is any one else thinking about the new housing bill that gave flex to “whoever in the ARM need to refinance now may get blessed with 87 % of new apprisal value”?. As per this, do you still think the home prices may go down to 2000 level[/quote]

The housing bill is a joke. It’s only a bail out for Fannie and Freddie, and it will do very little in CA. To be able to refinance at a lower rate the banks have to agree to take an additional 10% loss in a market like CA where prices have already dropped 30% or more. Even if the banks will do that the homeowner still has to qualify under 30 year fixed, while actually proving their income. Then when they go to sell up to 50% of their equity goes back to the government.

What do you think people are going to do? They’ll just stop paying and wait for the Sherriff to come knocking.[/quote]

Are you sure as per the new housing bill when they sell their 50% equity goes to Government?. Is this the total equity or the equity just paid at the time of 30 mortgage finance? I couldn’t understand what this new bill exactly explains all these.

[5yearwaiter]

[quote=cooprider][quote=5yearwaiter]Is any one else thinking about the new housing bill that gave flex to “whoever in the ARM need to refinance now may get blessed with 87 % of new apprisal value”?. As per this, do you still think the home prices may go down to 2000 level[/quote]

The housing bill is a joke. It’s only a bail out for Fannie and Freddie, and it will do very little in CA. To be able to refinance at a lower rate the banks have to agree to take an additional 10% loss in a market like CA where prices have already dropped 30% or more. Even if the banks will do that the homeowner still has to qualify under 30 year fixed, while actually proving their income. Then when they go to sell up to 50% of their equity goes back to the government.

What do you think people are going to do? They’ll just stop paying and wait for the Sherriff to come knocking.[/quote]

Are you sure as per the new housing bill when they sell their 50% equity goes to Government?. Is this the total equity or the equity just paid at the time of 30 mortgage finance? I couldn’t understand what this new bill exactly explains all these.

[5yearwaiter]

[quote=cooprider][quote=5yearwaiter]Is any one else thinking about the new housing bill that gave flex to “whoever in the ARM need to refinance now may get blessed with 87 % of new apprisal value”?. As per this, do you still think the home prices may go down to 2000 level[/quote]

The housing bill is a joke. It’s only a bail out for Fannie and Freddie, and it will do very little in CA. To be able to refinance at a lower rate the banks have to agree to take an additional 10% loss in a market like CA where prices have already dropped 30% or more. Even if the banks will do that the homeowner still has to qualify under 30 year fixed, while actually proving their income. Then when they go to sell up to 50% of their equity goes back to the government.

What do you think people are going to do? They’ll just stop paying and wait for the Sherriff to come knocking.[/quote]

Are you sure as per the new housing bill when they sell their 50% equity goes to Government?. Is this the total equity or the equity just paid at the time of 30 mortgage finance? I couldn’t understand what this new bill exactly explains all these.

[5yearwaiter]

[quote=cooprider][quote=5yearwaiter]Is any one else thinking about the new housing bill that gave flex to “whoever in the ARM need to refinance now may get blessed with 87 % of new apprisal value”?. As per this, do you still think the home prices may go down to 2000 level[/quote]

The housing bill is a joke. It’s only a bail out for Fannie and Freddie, and it will do very little in CA. To be able to refinance at a lower rate the banks have to agree to take an additional 10% loss in a market like CA where prices have already dropped 30% or more. Even if the banks will do that the homeowner still has to qualify under 30 year fixed, while actually proving their income. Then when they go to sell up to 50% of their equity goes back to the government.

What do you think people are going to do? They’ll just stop paying and wait for the Sherriff to come knocking.[/quote]

Are you sure as per the new housing bill when they sell their 50% equity goes to Government?. Is this the total equity or the equity just paid at the time of 30 mortgage finance? I couldn’t understand what this new bill exactly explains all these.

[5yearwaiter]

Is any one else thinking about the new housing bill that gave flex to “whoever in the ARM need to refinance now may get blessed with 87 % of new apprisal value”?. As per this, do you still think the home prices may go down to 2000 level

[5yearwaiter]

Is any one else thinking about the new housing bill that gave flex to “whoever in the ARM need to refinance now may get blessed with 87 % of new apprisal value”?. As per this, do you still think the home prices may go down to 2000 level

[5yearwaiter]

Is any one else thinking about the new housing bill that gave flex to “whoever in the ARM need to refinance now may get blessed with 87 % of new apprisal value”?. As per this, do you still think the home prices may go down to 2000 level

[5yearwaiter]

Is any one else thinking about the new housing bill that gave flex to “whoever in the ARM need to refinance now may get blessed with 87 % of new apprisal value”?. As per this, do you still think the home prices may go down to 2000 level

[Author]

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