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August 22, 2008 at 8:53 AM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #259986
5yearwaiter
Participant[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.
August 22, 2008 at 8:53 AM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #2601825yearwaiter
Participant[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.
August 22, 2008 at 8:53 AM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #2601955yearwaiter
Participant[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.
August 22, 2008 at 8:53 AM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #2602435yearwaiter
Participant[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.
August 22, 2008 at 8:53 AM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #2602835yearwaiter
Participant[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.
August 20, 2008 at 1:15 PM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #2590705yearwaiter
Participant[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.
August 20, 2008 at 1:15 PM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #2592615yearwaiter
Participant[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.
August 20, 2008 at 1:15 PM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #2592755yearwaiter
Participant[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.
August 20, 2008 at 1:15 PM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #2593225yearwaiter
Participant[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.
August 20, 2008 at 1:15 PM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #2593645yearwaiter
Participant[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.
August 19, 2008 at 10:18 AM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #2587075yearwaiter
ParticipantIs 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
August 19, 2008 at 10:18 AM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #2588965yearwaiter
ParticipantIs 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
August 19, 2008 at 10:18 AM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #2589095yearwaiter
ParticipantIs 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
August 19, 2008 at 10:18 AM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #2589575yearwaiter
ParticipantIs 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
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