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bearishgurl
Participant[quote=eavesdropper][quote=bearishgurl][quote=walterwhite]Speaking ofjimmy Carter I had an urge to buy a Carter era 1978 honda civic.[/quote]
scaredy, I hope you’re using that for a moped around your property and not letting your kids take it on the road. I saw an entire family of four perish in front of my eyes in one of those after being broadsided by a Ford F-150 pickup when they were making an (unwise) left turn. Those cars were “tin cans” in that era.[/quote]
Right you are, BG. I had a ’79 Civic – it was my first brand-new car, and I loved it. But I hit the right rear bumper of a similar-era full-size Ford Bronco – a real behemoth – with the left front of my car. He was stopped, and I was moving at 10 to 15 mph, and it still crumpled up my quarter panel like an accordion. Not a dent on his.
Didn’t stop him from suing for $100 grand for “grievous injuries” to his head, neck, back, legs, abdomen, blah, blah, plus serious mental distress. In fact, that lawsuit took its place on the docket beside 3 others he had going at the same time, and countless others he had “settled” in the prior five years. Poor guy just had the *worst* luck when he was out driving…..But I digress….
I’m not sure that there are many compact, or even mid-size, sedans or hatchbacks that would fare well after being t-boned by the full-size pickups that are so prevalent in suburbs and cities these days. I am an extremely defensive driver when out in mine. But, also being a motorcyclist, I am well-acquainted with boneheads who make ill-advised left turns in front of me at the last-minute. The ability to perceive depth and distance is one of those handy driving skills that seem to have been swapped for facility at dialing voicemail or texting.[/quote]
Lol, eavesdropper, I don’t drive MC’s but can relate to your situation WRT winding two-laners w/blind curves and stop signs blocked by trees (all abundant in your area). Of course, you, as an MC driver must be constantly on the defensive.
This accident happened when the Civic (“Hatchback”) was turning left (west) onto “South Bay Pkwy” which is now known as “SR-54” from Sweetwater Rd (just west of the SV swap meet). This turn was coming from an uphill direction (slow). I was headed eastbound to my caregiver’s house to pick up kids after work. The pickup t-boned it in the lane in front of and to the right of me, going about 45-50 mph. This caused the Civic to split in half and the rear passengers (children) to be ejected. After the accident, the local news warned viewers repeatedly that these cars had been known to split behind the back seat when hit broadside.
Having driven in snow and ice in treacherous conditions, I have seen a LOT of things happen on the road. I’ve also witnessed two other multiple fatals on this road prior to it becoming a State Hwy. But I’ll never forget this particular one.
Participant[quote=eavesdropper][quote=bearishgurl][quote=walterwhite]Speaking ofjimmy Carter I had an urge to buy a Carter era 1978 honda civic.[/quote]
scaredy, I hope you’re using that for a moped around your property and not letting your kids take it on the road. I saw an entire family of four perish in front of my eyes in one of those after being broadsided by a Ford F-150 pickup when they were making an (unwise) left turn. Those cars were “tin cans” in that era.[/quote]
Right you are, BG. I had a ’79 Civic – it was my first brand-new car, and I loved it. But I hit the right rear bumper of a similar-era full-size Ford Bronco – a real behemoth – with the left front of my car. He was stopped, and I was moving at 10 to 15 mph, and it still crumpled up my quarter panel like an accordion. Not a dent on his.
Didn’t stop him from suing for $100 grand for “grievous injuries” to his head, neck, back, legs, abdomen, blah, blah, plus serious mental distress. In fact, that lawsuit took its place on the docket beside 3 others he had going at the same time, and countless others he had “settled” in the prior five years. Poor guy just had the *worst* luck when he was out driving…..But I digress….
I’m not sure that there are many compact, or even mid-size, sedans or hatchbacks that would fare well after being t-boned by the full-size pickups that are so prevalent in suburbs and cities these days. I am an extremely defensive driver when out in mine. But, also being a motorcyclist, I am well-acquainted with boneheads who make ill-advised left turns in front of me at the last-minute. The ability to perceive depth and distance is one of those handy driving skills that seem to have been swapped for facility at dialing voicemail or texting.[/quote]
Lol, eavesdropper, I don’t drive MC’s but can relate to your situation WRT winding two-laners w/blind curves and stop signs blocked by trees (all abundant in your area). Of course, you, as an MC driver must be constantly on the defensive.
This accident happened when the Civic (“Hatchback”) was turning left (west) onto “South Bay Pkwy” which is now known as “SR-54” from Sweetwater Rd (just west of the SV swap meet). This turn was coming from an uphill direction (slow). I was headed eastbound to my caregiver’s house to pick up kids after work. The pickup t-boned it in the lane in front of and to the right of me, going about 45-50 mph. This caused the Civic to split in half and the rear passengers (children) to be ejected. After the accident, the local news warned viewers repeatedly that these cars had been known to split behind the back seat when hit broadside.
Having driven in snow and ice in treacherous conditions, I have seen a LOT of things happen on the road. I’ve also witnessed two other multiple fatals on this road prior to it becoming a State Hwy. But I’ll never forget this particular one.
ParticipantThat’s an interesting (nationwide) view. Jeff Gundlach on CNBC is worried that subprime stocks will fall in value due to forced repricing of risky “subprime” loan “assets” which are apparently only worth 20% of their original note value upon resale by a foreclosing lender. He’s using Countrywide/B of A as an example. He states it is due to foreclosure taking an avg of 26 months due to current robosigning and MERS lawsuits.
There is no excuse for this in CA. A property timely foreclosed on acc to the law should only take 4-5 mos to reach the market from the date of first pymt default. If cleaned up quickly and priced competitively, its REO sale should have closed escrow within 60-90 more days.
This tremendous lag time is entirely the fault of lazy, incompetent Big Banks and laws in some states requiring possession of the orig note to foreclose (which they, of course, don’t have).
The banks/servicers don’t seem to care if “subprime” hard assets plummet on the stock market. It seems as if this “dilemma” presents “no skin off their necks.” They SHOULD care, however, as a further downward spiral in residential RE values could make it more difficult to get their needed recovery on their present and future REO’s.
This very short-sighted view by Big Banks/servicers could have the effect of lowering ALL owners RE values further, thus depressing nearby “equity sale” comps for their own future REOs these “institutional idiots” will need to unload. They’re dumb a$$es who need to get off the stick, pronto!
This is a completely preventable downward spiral of values in areas already beset by multiple foreclosures, short sales and property inhabited by non-performing borrowers, IMO.
ParticipantThat’s an interesting (nationwide) view. Jeff Gundlach on CNBC is worried that subprime stocks will fall in value due to forced repricing of risky “subprime” loan “assets” which are apparently only worth 20% of their original note value upon resale by a foreclosing lender. He’s using Countrywide/B of A as an example. He states it is due to foreclosure taking an avg of 26 months due to current robosigning and MERS lawsuits.
There is no excuse for this in CA. A property timely foreclosed on acc to the law should only take 4-5 mos to reach the market from the date of first pymt default. If cleaned up quickly and priced competitively, its REO sale should have closed escrow within 60-90 more days.
This tremendous lag time is entirely the fault of lazy, incompetent Big Banks and laws in some states requiring possession of the orig note to foreclose (which they, of course, don’t have).
The banks/servicers don’t seem to care if “subprime” hard assets plummet on the stock market. It seems as if this “dilemma” presents “no skin off their necks.” They SHOULD care, however, as a further downward spiral in residential RE values could make it more difficult to get their needed recovery on their present and future REO’s.
This very short-sighted view by Big Banks/servicers could have the effect of lowering ALL owners RE values further, thus depressing nearby “equity sale” comps for their own future REOs these “institutional idiots” will need to unload. They’re dumb a$$es who need to get off the stick, pronto!
This is a completely preventable downward spiral of values in areas already beset by multiple foreclosures, short sales and property inhabited by non-performing borrowers, IMO.
ParticipantThat’s an interesting (nationwide) view. Jeff Gundlach on CNBC is worried that subprime stocks will fall in value due to forced repricing of risky “subprime” loan “assets” which are apparently only worth 20% of their original note value upon resale by a foreclosing lender. He’s using Countrywide/B of A as an example. He states it is due to foreclosure taking an avg of 26 months due to current robosigning and MERS lawsuits.
There is no excuse for this in CA. A property timely foreclosed on acc to the law should only take 4-5 mos to reach the market from the date of first pymt default. If cleaned up quickly and priced competitively, its REO sale should have closed escrow within 60-90 more days.
This tremendous lag time is entirely the fault of lazy, incompetent Big Banks and laws in some states requiring possession of the orig note to foreclose (which they, of course, don’t have).
The banks/servicers don’t seem to care if “subprime” hard assets plummet on the stock market. It seems as if this “dilemma” presents “no skin off their necks.” They SHOULD care, however, as a further downward spiral in residential RE values could make it more difficult to get their needed recovery on their present and future REO’s.
This very short-sighted view by Big Banks/servicers could have the effect of lowering ALL owners RE values further, thus depressing nearby “equity sale” comps for their own future REOs these “institutional idiots” will need to unload. They’re dumb a$$es who need to get off the stick, pronto!
This is a completely preventable downward spiral of values in areas already beset by multiple foreclosures, short sales and property inhabited by non-performing borrowers, IMO.
ParticipantThat’s an interesting (nationwide) view. Jeff Gundlach on CNBC is worried that subprime stocks will fall in value due to forced repricing of risky “subprime” loan “assets” which are apparently only worth 20% of their original note value upon resale by a foreclosing lender. He’s using Countrywide/B of A as an example. He states it is due to foreclosure taking an avg of 26 months due to current robosigning and MERS lawsuits.
There is no excuse for this in CA. A property timely foreclosed on acc to the law should only take 4-5 mos to reach the market from the date of first pymt default. If cleaned up quickly and priced competitively, its REO sale should have closed escrow within 60-90 more days.
This tremendous lag time is entirely the fault of lazy, incompetent Big Banks and laws in some states requiring possession of the orig note to foreclose (which they, of course, don’t have).
The banks/servicers don’t seem to care if “subprime” hard assets plummet on the stock market. It seems as if this “dilemma” presents “no skin off their necks.” They SHOULD care, however, as a further downward spiral in residential RE values could make it more difficult to get their needed recovery on their present and future REO’s.
This very short-sighted view by Big Banks/servicers could have the effect of lowering ALL owners RE values further, thus depressing nearby “equity sale” comps for their own future REOs these “institutional idiots” will need to unload. They’re dumb a$$es who need to get off the stick, pronto!
This is a completely preventable downward spiral of values in areas already beset by multiple foreclosures, short sales and property inhabited by non-performing borrowers, IMO.
ParticipantThat’s an interesting (nationwide) view. Jeff Gundlach on CNBC is worried that subprime stocks will fall in value due to forced repricing of risky “subprime” loan “assets” which are apparently only worth 20% of their original note value upon resale by a foreclosing lender. He’s using Countrywide/B of A as an example. He states it is due to foreclosure taking an avg of 26 months due to current robosigning and MERS lawsuits.
There is no excuse for this in CA. A property timely foreclosed on acc to the law should only take 4-5 mos to reach the market from the date of first pymt default. If cleaned up quickly and priced competitively, its REO sale should have closed escrow within 60-90 more days.
This tremendous lag time is entirely the fault of lazy, incompetent Big Banks and laws in some states requiring possession of the orig note to foreclose (which they, of course, don’t have).
The banks/servicers don’t seem to care if “subprime” hard assets plummet on the stock market. It seems as if this “dilemma” presents “no skin off their necks.” They SHOULD care, however, as a further downward spiral in residential RE values could make it more difficult to get their needed recovery on their present and future REO’s.
This very short-sighted view by Big Banks/servicers could have the effect of lowering ALL owners RE values further, thus depressing nearby “equity sale” comps for their own future REOs these “institutional idiots” will need to unload. They’re dumb a$$es who need to get off the stick, pronto!
This is a completely preventable downward spiral of values in areas already beset by multiple foreclosures, short sales and property inhabited by non-performing borrowers, IMO.
Participant[quote=walterwhite]Speaking ofjimmy Carter I had an urge to buy a Carter era 1978 honda civic.[/quote]
scaredy, I hope you’re using that for a moped around your property and not letting your kids take it on the road. I saw an entire family of four perish in front of my eyes in one of those after being broadsided by a Ford F-150 pickup when they were making an (unwise) left turn. Those cars were “tin cans” in that era.
Participant[quote=walterwhite]Speaking ofjimmy Carter I had an urge to buy a Carter era 1978 honda civic.[/quote]
scaredy, I hope you’re using that for a moped around your property and not letting your kids take it on the road. I saw an entire family of four perish in front of my eyes in one of those after being broadsided by a Ford F-150 pickup when they were making an (unwise) left turn. Those cars were “tin cans” in that era.
Participant[quote=walterwhite]Speaking ofjimmy Carter I had an urge to buy a Carter era 1978 honda civic.[/quote]
scaredy, I hope you’re using that for a moped around your property and not letting your kids take it on the road. I saw an entire family of four perish in front of my eyes in one of those after being broadsided by a Ford F-150 pickup when they were making an (unwise) left turn. Those cars were “tin cans” in that era.
Participant[quote=walterwhite]Speaking ofjimmy Carter I had an urge to buy a Carter era 1978 honda civic.[/quote]
scaredy, I hope you’re using that for a moped around your property and not letting your kids take it on the road. I saw an entire family of four perish in front of my eyes in one of those after being broadsided by a Ford F-150 pickup when they were making an (unwise) left turn. Those cars were “tin cans” in that era.
Participant[quote=walterwhite]Speaking ofjimmy Carter I had an urge to buy a Carter era 1978 honda civic.[/quote]
scaredy, I hope you’re using that for a moped around your property and not letting your kids take it on the road. I saw an entire family of four perish in front of my eyes in one of those after being broadsided by a Ford F-150 pickup when they were making an (unwise) left turn. Those cars were “tin cans” in that era.
Participant[quote=CA renter]Definitely. Back when I was in college, my roommates and I rented a 3/2 apartment for $710/mo in a working-class, but decent-enough part of town in L.A. We could swing that rent, even though we all had low-paying jobs. These days, the rent for that apartment would probably run around $1,600-$1,750 (or more). The catch? Wages for the types of jobs we had have gone nowhere in that time. Those wages have gone up *maybe* 40%-60% since then.
So, while everyone is applauding the miracle of house price appreciation (and the rent increases that tend to go with it), the truth is that the working class hasn’t really seen any appreciable wage increases for decades, and their purchasing power has dropped significantly, while the upper-income earners and asset owners have probably seen their “wealth” and/or buying power triple or quadruple since then. The wealth/income gap is now HUGE, and it’s only getting worse.[/quote]
Totally agree, CAR. In our case, the min wage was between about $1.10 and $2.40 hr. That was used for union dues and payroll taxes. We got Blue Cross coverage, once weekly uniform laundry svcs and worksite lockers as “union benefits” plus one free meal per workday and employee discounts as patrons from the house. We actually lived on tips, which were NOT taxed at the time. We stacked our bills and rolled our coin on breaks and stood in line to deposit it in our checking accts once a week to pay bills with. Bought daily needs with cash.
I averaged about $1450 mo income and my rent in 3 different dtn SD apts was $140 to $225 (the latter rent incl panoramic bay/ocean view). All rents covered ALL utils. Cable svc was not avail in that area. I used “rabbit ears” on my TV, lol.
I DO think it was much easier for a young person or couple/young family to live on a “non-professional” income at that time. However, the particular job I performed could be strenuous as it required lifting up to 50-lb trays overhead with an open wine carafe in the middle, often with one arm and up and down one or two steps and an excellent (nearly photographic) memory. The uniforms were starched minidresses and the houses were very particular about how they were worn and the level of grooming of their wait staff. Gender, disability and “appearance” discrimination were completely legal, accepted by employees and practiced everywhere :=0
Participant[quote=CA renter]Definitely. Back when I was in college, my roommates and I rented a 3/2 apartment for $710/mo in a working-class, but decent-enough part of town in L.A. We could swing that rent, even though we all had low-paying jobs. These days, the rent for that apartment would probably run around $1,600-$1,750 (or more). The catch? Wages for the types of jobs we had have gone nowhere in that time. Those wages have gone up *maybe* 40%-60% since then.
So, while everyone is applauding the miracle of house price appreciation (and the rent increases that tend to go with it), the truth is that the working class hasn’t really seen any appreciable wage increases for decades, and their purchasing power has dropped significantly, while the upper-income earners and asset owners have probably seen their “wealth” and/or buying power triple or quadruple since then. The wealth/income gap is now HUGE, and it’s only getting worse.[/quote]
Totally agree, CAR. In our case, the min wage was between about $1.10 and $2.40 hr. That was used for union dues and payroll taxes. We got Blue Cross coverage, once weekly uniform laundry svcs and worksite lockers as “union benefits” plus one free meal per workday and employee discounts as patrons from the house. We actually lived on tips, which were NOT taxed at the time. We stacked our bills and rolled our coin on breaks and stood in line to deposit it in our checking accts once a week to pay bills with. Bought daily needs with cash.
I averaged about $1450 mo income and my rent in 3 different dtn SD apts was $140 to $225 (the latter rent incl panoramic bay/ocean view). All rents covered ALL utils. Cable svc was not avail in that area. I used “rabbit ears” on my TV, lol.
I DO think it was much easier for a young person or couple/young family to live on a “non-professional” income at that time. However, the particular job I performed could be strenuous as it required lifting up to 50-lb trays overhead with an open wine carafe in the middle, often with one arm and up and down one or two steps and an excellent (nearly photographic) memory. The uniforms were starched minidresses and the houses were very particular about how they were worn and the level of grooming of their wait staff. Gender, disability and “appearance” discrimination were completely legal, accepted by employees and practiced everywhere :=0
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