[andymajumder]

“This is a pretty responsible guy rather than someone who lived off his house like an atm. ”

Does it really matter….being responsible is also a relative term. Basically, his 200K divorce got funded through taxpayers money.

As a renter, I feel sick about this, will a bank give me a 2% rate even with an excellent credit score, so that I can purchase a house well beyond my means and keep my payments to 31% of my gross. No, of course not…

We as a society will collectively pay (are paying) for these bailouts, trust me as these things go on and unemployment doesn’t improve, there will some kind of social unrest in this country as a ceratin section of people keep getting bailed out….

In fact, I myself wouldn’t mind taking to the streets to protest the fact that my tax payer money is being spent to keep losers in their expensive homes.

[andymajumder]

“This is a pretty responsible guy rather than someone who lived off his house like an atm. ”

Does it really matter….being responsible is also a relative term. Basically, his 200K divorce got funded through taxpayers money.

As a renter, I feel sick about this, will a bank give me a 2% rate even with an excellent credit score, so that I can purchase a house well beyond my means and keep my payments to 31% of my gross. No, of course not…

We as a society will collectively pay (are paying) for these bailouts, trust me as these things go on and unemployment doesn’t improve, there will some kind of social unrest in this country as a ceratin section of people keep getting bailed out….

In fact, I myself wouldn’t mind taking to the streets to protest the fact that my tax payer money is being spent to keep losers in their expensive homes.

[andymajumder]

“This is a pretty responsible guy rather than someone who lived off his house like an atm. ”

Does it really matter….being responsible is also a relative term. Basically, his 200K divorce got funded through taxpayers money.

As a renter, I feel sick about this, will a bank give me a 2% rate even with an excellent credit score, so that I can purchase a house well beyond my means and keep my payments to 31% of my gross. No, of course not…

We as a society will collectively pay (are paying) for these bailouts, trust me as these things go on and unemployment doesn’t improve, there will some kind of social unrest in this country as a ceratin section of people keep getting bailed out….

In fact, I myself wouldn’t mind taking to the streets to protest the fact that my tax payer money is being spent to keep losers in their expensive homes.

[andymajumder]

“This is a pretty responsible guy rather than someone who lived off his house like an atm. ”

Does it really matter….being responsible is also a relative term. Basically, his 200K divorce got funded through taxpayers money.

As a renter, I feel sick about this, will a bank give me a 2% rate even with an excellent credit score, so that I can purchase a house well beyond my means and keep my payments to 31% of my gross. No, of course not…

We as a society will collectively pay (are paying) for these bailouts, trust me as these things go on and unemployment doesn’t improve, there will some kind of social unrest in this country as a ceratin section of people keep getting bailed out….

In fact, I myself wouldn’t mind taking to the streets to protest the fact that my tax payer money is being spent to keep losers in their expensive homes.

[andymajumder]

Thanks SDR….observations are very helpful. I have been watching north county inland (rb, penas, cmr, 4S, poway)quite closely, looks like prices have softened a bit since April 30th. However, this is not true for Scripps Ranch. To me it seems like condotownhome prices have softened more than SFH homes.

[andymajumder]

Thanks SDR….observations are very helpful. I have been watching north county inland (rb, penas, cmr, 4S, poway)quite closely, looks like prices have softened a bit since April 30th. However, this is not true for Scripps Ranch. To me it seems like condotownhome prices have softened more than SFH homes.

[andymajumder]

Thanks SDR….observations are very helpful. I have been watching north county inland (rb, penas, cmr, 4S, poway)quite closely, looks like prices have softened a bit since April 30th. However, this is not true for Scripps Ranch. To me it seems like condotownhome prices have softened more than SFH homes.

[andymajumder]

Thanks SDR….observations are very helpful. I have been watching north county inland (rb, penas, cmr, 4S, poway)quite closely, looks like prices have softened a bit since April 30th. However, this is not true for Scripps Ranch. To me it seems like condotownhome prices have softened more than SFH homes.

[andymajumder]

Thanks SDR….observations are very helpful. I have been watching north county inland (rb, penas, cmr, 4S, poway)quite closely, looks like prices have softened a bit since April 30th. However, this is not true for Scripps Ranch. To me it seems like condotownhome prices have softened more than SFH homes.

[andymajumder]

I am sure even if this passes, there will be a future date when these new rules will come into effect and people who are able to get their loans before that date will pay the lower premiums. Really curious to see if this passes in the same format in the Senate, because I really do think this is going to hurt home prices quite a bit in places like San Diego. I have been watching the market closely here and have already observed that condo or townhome communities which are not FHA approved seems to be selling at a discount compared to ones which do….buy that itself I can see that disqualifying FHA buyers shrinks the buyer pool quite a bit, also I guess folks with higher downpayment tend to negotiate harder. It will be a interesting few months for the housing market.

[andymajumder]

I am sure even if this passes, there will be a future date when these new rules will come into effect and people who are able to get their loans before that date will pay the lower premiums. Really curious to see if this passes in the same format in the Senate, because I really do think this is going to hurt home prices quite a bit in places like San Diego. I have been watching the market closely here and have already observed that condo or townhome communities which are not FHA approved seems to be selling at a discount compared to ones which do….buy that itself I can see that disqualifying FHA buyers shrinks the buyer pool quite a bit, also I guess folks with higher downpayment tend to negotiate harder. It will be a interesting few months for the housing market.

[andymajumder]

I am sure even if this passes, there will be a future date when these new rules will come into effect and people who are able to get their loans before that date will pay the lower premiums. Really curious to see if this passes in the same format in the Senate, because I really do think this is going to hurt home prices quite a bit in places like San Diego. I have been watching the market closely here and have already observed that condo or townhome communities which are not FHA approved seems to be selling at a discount compared to ones which do….buy that itself I can see that disqualifying FHA buyers shrinks the buyer pool quite a bit, also I guess folks with higher downpayment tend to negotiate harder. It will be a interesting few months for the housing market.

[andymajumder]

I am sure even if this passes, there will be a future date when these new rules will come into effect and people who are able to get their loans before that date will pay the lower premiums. Really curious to see if this passes in the same format in the Senate, because I really do think this is going to hurt home prices quite a bit in places like San Diego. I have been watching the market closely here and have already observed that condo or townhome communities which are not FHA approved seems to be selling at a discount compared to ones which do….buy that itself I can see that disqualifying FHA buyers shrinks the buyer pool quite a bit, also I guess folks with higher downpayment tend to negotiate harder. It will be a interesting few months for the housing market.

[andymajumder]

I am sure even if this passes, there will be a future date when these new rules will come into effect and people who are able to get their loans before that date will pay the lower premiums. Really curious to see if this passes in the same format in the Senate, because I really do think this is going to hurt home prices quite a bit in places like San Diego. I have been watching the market closely here and have already observed that condo or townhome communities which are not FHA approved seems to be selling at a discount compared to ones which do….buy that itself I can see that disqualifying FHA buyers shrinks the buyer pool quite a bit, also I guess folks with higher downpayment tend to negotiate harder. It will be a interesting few months for the housing market.

[andymajumder]

They need to be careful how they reduce more people from relying on FHA loans….but I don’t see how things will not get worse from here.
37% of all loans in SD county in April were FHA loans…I am quite sure in the sub 500K market the share of FHA loans is much larger, these are all people with bought with 3.5% – 5% down. Now even if insurance premiums go up half as much as what you mentioned here (FHA loans are already quite expensive), FHA buyers will shrink considerably which in turn will shrink the no. of buyers significantly (there’s no way suddenly more buyers with high downpayment are going to emerge). This will definitely pull prices lower and thus take a lot of the existing FHA owners who have bought in the past couple of years with 3.5% down underwater and lead to more people walking away and foreclosures….another downward spiral. I would suggest people with 20% downpayment should now just hold tight and watch this play out.

[Author]

Posts