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ParticipantWhen this is appearing in the WSJ, we are about to move into phase 3 of this operation. In phase 3, the institutions holding MBSes are threatened with extinction when mortgage holders stop making payments. The well-connected of these institutions will soon receive bailouts, they’ll retain ownership of the properties, and either rent them back to the previous “owners” (who were really tenants all along) or sell them and pocket the cash. In effect, the US government will have paid to construct lots of housing, and then given it free of charge to financial institutions. Those same institutions will then collect rent in perpetuity or just sell the houses. It’s a win-win, just as long as you’re in the loop (which none of us are).
ParticipantIf they’re living for free in the IE, they’re getting their money’s worth.
ParticipantIf they’re living for free in the IE, they’re getting their money’s worth.
ParticipantIf they’re living for free in the IE, they’re getting their money’s worth.
ParticipantIf they’re living for free in the IE, they’re getting their money’s worth.
ParticipantIf they’re living for free in the IE, they’re getting their money’s worth.
February 25, 2010 at 2:57 PM in reply to: Straight from horses mouth – Schiller says “substantial downward risk” #517797ParticipantFind me a US market for anything right now that doesn’t have substantial downside risk. Maybe the market in pawn shops and check cashing stores still has some upside potential.
I bought in Sept 2009 and I’m goin’ down with the ship. Yeehaaaaa!
February 25, 2010 at 2:57 PM in reply to: Straight from horses mouth – Schiller says “substantial downward risk” #517939ParticipantFind me a US market for anything right now that doesn’t have substantial downside risk. Maybe the market in pawn shops and check cashing stores still has some upside potential.
I bought in Sept 2009 and I’m goin’ down with the ship. Yeehaaaaa!
February 25, 2010 at 2:57 PM in reply to: Straight from horses mouth – Schiller says “substantial downward risk” #518373ParticipantFind me a US market for anything right now that doesn’t have substantial downside risk. Maybe the market in pawn shops and check cashing stores still has some upside potential.
I bought in Sept 2009 and I’m goin’ down with the ship. Yeehaaaaa!
February 25, 2010 at 2:57 PM in reply to: Straight from horses mouth – Schiller says “substantial downward risk” #518466ParticipantFind me a US market for anything right now that doesn’t have substantial downside risk. Maybe the market in pawn shops and check cashing stores still has some upside potential.
I bought in Sept 2009 and I’m goin’ down with the ship. Yeehaaaaa!
February 25, 2010 at 2:57 PM in reply to: Straight from horses mouth – Schiller says “substantial downward risk” #518720ParticipantFind me a US market for anything right now that doesn’t have substantial downside risk. Maybe the market in pawn shops and check cashing stores still has some upside potential.
I bought in Sept 2009 and I’m goin’ down with the ship. Yeehaaaaa!
February 25, 2010 at 10:17 AM in reply to: Mortgages in walkable areas less likely to default. #517839ParticipantI used to live in downtown SD. It is pretty walkable but there isn’t a lot of selection for groceries. In downtown you can get by without a car most of the time if your work is downtown. North Park/Hillcrest is better IMO for life without a car, there are much better grocery stores (Whole Foods/Trader Joe’s/Henry’s as well as Albertson’s and Ralph’s all within a 1 mile radius). Post Office, drug stores, pretty much everything you need. If you worked in Hillcrest/NP or downtown you could get by with just a bike with no problems at all. I think that sort of lifestyle is going to be more and more attractive in the future.
February 25, 2010 at 10:17 AM in reply to: Mortgages in walkable areas less likely to default. #518273ParticipantI used to live in downtown SD. It is pretty walkable but there isn’t a lot of selection for groceries. In downtown you can get by without a car most of the time if your work is downtown. North Park/Hillcrest is better IMO for life without a car, there are much better grocery stores (Whole Foods/Trader Joe’s/Henry’s as well as Albertson’s and Ralph’s all within a 1 mile radius). Post Office, drug stores, pretty much everything you need. If you worked in Hillcrest/NP or downtown you could get by with just a bike with no problems at all. I think that sort of lifestyle is going to be more and more attractive in the future.
February 25, 2010 at 10:17 AM in reply to: Mortgages in walkable areas less likely to default. #518366ParticipantI used to live in downtown SD. It is pretty walkable but there isn’t a lot of selection for groceries. In downtown you can get by without a car most of the time if your work is downtown. North Park/Hillcrest is better IMO for life without a car, there are much better grocery stores (Whole Foods/Trader Joe’s/Henry’s as well as Albertson’s and Ralph’s all within a 1 mile radius). Post Office, drug stores, pretty much everything you need. If you worked in Hillcrest/NP or downtown you could get by with just a bike with no problems at all. I think that sort of lifestyle is going to be more and more attractive in the future.
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