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blackbox
ParticipantThe market already has slipped 20 to 30%.
We’re waiting for 40-60%.
Geez, dude, where have you been?no matter who gets involved, or what gets involved, this housing market will eventually settle at affortability.
Ofcourse its to no one interest that the economy craters, except for the gold/cheese and cracker horders.Actually I would like a nice smooth transisiton to affortability where a median family income has a hope of buying a median priced home, which will happen one way or another. That will happen no matter the bailout or no bailout. It’s just a matter of how and in what timeframe.
I think most of the folks on the website have above median income, above average savings, great credit score, and plenty of common sense. We will buy when it makes economic sense, and not when some idiot thinks we should. The home buyer boycott will continue until the historical income/home price ratio occurs once again, and the market will for a very long time lack the idiots that bought just because they could. No matter who gets to keep their homes because they get thier mortgage rates frozen, this market will no longer be determined by the amount of foreclosures, but by the very few that will actually qualify for a mortgage in the newly tighten mortgage market, and we are not buying at your fantasy prices. The current fore sale housing inventory, and that the inventory still coming on line locks that fact in. The bailout came just a little to late to make any real impact of where home prices are heading (down), but with plenty of time avoid a economic meltdown. PERFECT!
ParticipantThe market already has slipped 20 to 30%.
We’re waiting for 40-60%.
Geez, dude, where have you been?no matter who gets involved, or what gets involved, this housing market will eventually settle at affortability.
Ofcourse its to no one interest that the economy craters, except for the gold/cheese and cracker horders.Actually I would like a nice smooth transisiton to affortability where a median family income has a hope of buying a median priced home, which will happen one way or another. That will happen no matter the bailout or no bailout. It’s just a matter of how and in what timeframe.
I think most of the folks on the website have above median income, above average savings, great credit score, and plenty of common sense. We will buy when it makes economic sense, and not when some idiot thinks we should. The home buyer boycott will continue until the historical income/home price ratio occurs once again, and the market will for a very long time lack the idiots that bought just because they could. No matter who gets to keep their homes because they get thier mortgage rates frozen, this market will no longer be determined by the amount of foreclosures, but by the very few that will actually qualify for a mortgage in the newly tighten mortgage market, and we are not buying at your fantasy prices. The current fore sale housing inventory, and that the inventory still coming on line locks that fact in. The bailout came just a little to late to make any real impact of where home prices are heading (down), but with plenty of time avoid a economic meltdown. PERFECT!
ParticipantThe market already has slipped 20 to 30%.
We’re waiting for 40-60%.
Geez, dude, where have you been?no matter who gets involved, or what gets involved, this housing market will eventually settle at affortability.
Ofcourse its to no one interest that the economy craters, except for the gold/cheese and cracker horders.Actually I would like a nice smooth transisiton to affortability where a median family income has a hope of buying a median priced home, which will happen one way or another. That will happen no matter the bailout or no bailout. It’s just a matter of how and in what timeframe.
I think most of the folks on the website have above median income, above average savings, great credit score, and plenty of common sense. We will buy when it makes economic sense, and not when some idiot thinks we should. The home buyer boycott will continue until the historical income/home price ratio occurs once again, and the market will for a very long time lack the idiots that bought just because they could. No matter who gets to keep their homes because they get thier mortgage rates frozen, this market will no longer be determined by the amount of foreclosures, but by the very few that will actually qualify for a mortgage in the newly tighten mortgage market, and we are not buying at your fantasy prices. The current fore sale housing inventory, and that the inventory still coming on line locks that fact in. The bailout came just a little to late to make any real impact of where home prices are heading (down), but with plenty of time avoid a economic meltdown. PERFECT!
ParticipantThere is a sucker born every minute, and it seems like they all decided to move up to the Temecula area at the same time.
They were promised financial independence in 3 to 5 years.
Sounds like greed to me…
and greed always overwelms common sense.
Actually sounds like a good strategy that these “victims” do all they can to focus on the obvious scumbags, and use their kids as “victim” props.
This way the authorities will not focus on any of the fraud that some of the “victims” may have done in getting 5 to 10 houses. The real victims are the banks, and the homeowners who actually bought homes to live in at the fraud level comps.
These so called “victims” are only fools, some criminal fools, some just plain fools. They deserve nothing, but a deep investigation of what they signed, and what was the understanding that they though they could get from a bank 5 to 10 mortgages, all within a short period so the banks could not catch multiple applications, thus fraud.Who cares what these fools were promised. haha, they did not even get it in writing for gosh sakes, haha
The people who created and carried on the main fraud should most certainly be brought to justice, but these so called victims deserve nothing, but a shift kick in the A$$, and a hasta la vista, and they should thank their happy stars that they are not also being investigated for fraud against the banks themselves.
ParticipantThere is a sucker born every minute, and it seems like they all decided to move up to the Temecula area at the same time.
They were promised financial independence in 3 to 5 years.
Sounds like greed to me…
and greed always overwelms common sense.
Actually sounds like a good strategy that these “victims” do all they can to focus on the obvious scumbags, and use their kids as “victim” props.
This way the authorities will not focus on any of the fraud that some of the “victims” may have done in getting 5 to 10 houses. The real victims are the banks, and the homeowners who actually bought homes to live in at the fraud level comps.
These so called “victims” are only fools, some criminal fools, some just plain fools. They deserve nothing, but a deep investigation of what they signed, and what was the understanding that they though they could get from a bank 5 to 10 mortgages, all within a short period so the banks could not catch multiple applications, thus fraud.Who cares what these fools were promised. haha, they did not even get it in writing for gosh sakes, haha
The people who created and carried on the main fraud should most certainly be brought to justice, but these so called victims deserve nothing, but a shift kick in the A$$, and a hasta la vista, and they should thank their happy stars that they are not also being investigated for fraud against the banks themselves.
ParticipantThere is a sucker born every minute, and it seems like they all decided to move up to the Temecula area at the same time.
They were promised financial independence in 3 to 5 years.
Sounds like greed to me…
and greed always overwelms common sense.
Actually sounds like a good strategy that these “victims” do all they can to focus on the obvious scumbags, and use their kids as “victim” props.
This way the authorities will not focus on any of the fraud that some of the “victims” may have done in getting 5 to 10 houses. The real victims are the banks, and the homeowners who actually bought homes to live in at the fraud level comps.
These so called “victims” are only fools, some criminal fools, some just plain fools. They deserve nothing, but a deep investigation of what they signed, and what was the understanding that they though they could get from a bank 5 to 10 mortgages, all within a short period so the banks could not catch multiple applications, thus fraud.Who cares what these fools were promised. haha, they did not even get it in writing for gosh sakes, haha
The people who created and carried on the main fraud should most certainly be brought to justice, but these so called victims deserve nothing, but a shift kick in the A$$, and a hasta la vista, and they should thank their happy stars that they are not also being investigated for fraud against the banks themselves.
ParticipantThere is a sucker born every minute, and it seems like they all decided to move up to the Temecula area at the same time.
They were promised financial independence in 3 to 5 years.
Sounds like greed to me…
and greed always overwelms common sense.
Actually sounds like a good strategy that these “victims” do all they can to focus on the obvious scumbags, and use their kids as “victim” props.
This way the authorities will not focus on any of the fraud that some of the “victims” may have done in getting 5 to 10 houses. The real victims are the banks, and the homeowners who actually bought homes to live in at the fraud level comps.
These so called “victims” are only fools, some criminal fools, some just plain fools. They deserve nothing, but a deep investigation of what they signed, and what was the understanding that they though they could get from a bank 5 to 10 mortgages, all within a short period so the banks could not catch multiple applications, thus fraud.Who cares what these fools were promised. haha, they did not even get it in writing for gosh sakes, haha
The people who created and carried on the main fraud should most certainly be brought to justice, but these so called victims deserve nothing, but a shift kick in the A$$, and a hasta la vista, and they should thank their happy stars that they are not also being investigated for fraud against the banks themselves.
ParticipantThere is a sucker born every minute, and it seems like they all decided to move up to the Temecula area at the same time.
They were promised financial independence in 3 to 5 years.
Sounds like greed to me…
and greed always overwelms common sense.
Actually sounds like a good strategy that these “victims” do all they can to focus on the obvious scumbags, and use their kids as “victim” props.
This way the authorities will not focus on any of the fraud that some of the “victims” may have done in getting 5 to 10 houses. The real victims are the banks, and the homeowners who actually bought homes to live in at the fraud level comps.
These so called “victims” are only fools, some criminal fools, some just plain fools. They deserve nothing, but a deep investigation of what they signed, and what was the understanding that they though they could get from a bank 5 to 10 mortgages, all within a short period so the banks could not catch multiple applications, thus fraud.Who cares what these fools were promised. haha, they did not even get it in writing for gosh sakes, haha
The people who created and carried on the main fraud should most certainly be brought to justice, but these so called victims deserve nothing, but a shift kick in the A$$, and a hasta la vista, and they should thank their happy stars that they are not also being investigated for fraud against the banks themselves.
Participantyep, it really goes to show that even reasonable thinking realtors had no clue how bad this thing was going to get, and it will get worst. Please everyone, just wait until there is a 3 month consistant uptick in prices before you even think of getting in as a buyer. No one has a clue where this one will bottom. I might even get stupid low before the uptick, and levels off at affortabiltiy (income/home price). A housing bubble like this has never ever happened so no one with even 30 years RE experience knows what the downside will look like. These guys are as clueless as the rest of us in calling a bottom. Specifically don’t follow the advise of people that make money out of your purchase even if you overpay or not………
2300 sq ft model that was the basis of this thread from the outset sell at a price close to the low 400’s. End of story.” sdrealtor,
What a joke!
Participantyep, it really goes to show that even reasonable thinking realtors had no clue how bad this thing was going to get, and it will get worst. Please everyone, just wait until there is a 3 month consistant uptick in prices before you even think of getting in as a buyer. No one has a clue where this one will bottom. I might even get stupid low before the uptick, and levels off at affortabiltiy (income/home price). A housing bubble like this has never ever happened so no one with even 30 years RE experience knows what the downside will look like. These guys are as clueless as the rest of us in calling a bottom. Specifically don’t follow the advise of people that make money out of your purchase even if you overpay or not………
2300 sq ft model that was the basis of this thread from the outset sell at a price close to the low 400’s. End of story.” sdrealtor,
What a joke!
Participantyep, it really goes to show that even reasonable thinking realtors had no clue how bad this thing was going to get, and it will get worst. Please everyone, just wait until there is a 3 month consistant uptick in prices before you even think of getting in as a buyer. No one has a clue where this one will bottom. I might even get stupid low before the uptick, and levels off at affortabiltiy (income/home price). A housing bubble like this has never ever happened so no one with even 30 years RE experience knows what the downside will look like. These guys are as clueless as the rest of us in calling a bottom. Specifically don’t follow the advise of people that make money out of your purchase even if you overpay or not………
2300 sq ft model that was the basis of this thread from the outset sell at a price close to the low 400’s. End of story.” sdrealtor,
What a joke!
Participantyep, it really goes to show that even reasonable thinking realtors had no clue how bad this thing was going to get, and it will get worst. Please everyone, just wait until there is a 3 month consistant uptick in prices before you even think of getting in as a buyer. No one has a clue where this one will bottom. I might even get stupid low before the uptick, and levels off at affortabiltiy (income/home price). A housing bubble like this has never ever happened so no one with even 30 years RE experience knows what the downside will look like. These guys are as clueless as the rest of us in calling a bottom. Specifically don’t follow the advise of people that make money out of your purchase even if you overpay or not………
2300 sq ft model that was the basis of this thread from the outset sell at a price close to the low 400’s. End of story.” sdrealtor,
What a joke!
Participantyep, it really goes to show that even reasonable thinking realtors had no clue how bad this thing was going to get, and it will get worst. Please everyone, just wait until there is a 3 month consistant uptick in prices before you even think of getting in as a buyer. No one has a clue where this one will bottom. I might even get stupid low before the uptick, and levels off at affortabiltiy (income/home price). A housing bubble like this has never ever happened so no one with even 30 years RE experience knows what the downside will look like. These guys are as clueless as the rest of us in calling a bottom. Specifically don’t follow the advise of people that make money out of your purchase even if you overpay or not………
2300 sq ft model that was the basis of this thread from the outset sell at a price close to the low 400’s. End of story.” sdrealtor,
What a joke!
November 22, 2007 at 12:27 PM in reply to: ignorant buyers still alive and well in orange county #102973ParticipantGee, thanks for putting me into a house at 5.5 X Income in a falling real estate market………..
Is not 3 % of $500K, $15K?
Interesting..
I’m sure some couples right now would love to pay just $15K to get rid of their homes without it affecting their credit score………..
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