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Participantsdduuuuude is absolutely correct, this is going to happen. As for the carrying costs of all these dead assets, well the bailouts will help. They may choose to rent some of them out or do loan reworks that basically turn “homeowners’ into renters. There will also probably be some mysterious fires from time to time that take care of some of the unoccupied ones. Home prices may come down but it won’t be because of these foreclosures. The values of homes must be kept high! It’s just like the Soviet Union pretending that their harvest are at record yields while all of the store shelves are empty; the party line doesn’t reflect reality, everyone knows it but we just keep playing along. Be brave, comrades!
ParticipantOne other thing, it is is a misconception to think you are only competing with people limited to 3X’s income. Maybe people have cash or bring a larger down, use the bank of mom and dad. FHA can use a qualified family member or family-member-like cosigner. There are also people who might use a low down but only part of what they could potentially qualify for on income to
Exactly. And these people are always going to be around. I think I’ve realized that the house I want is ALWAYS going to be too expensive to purchase, so I’ll just rent it instead for a lot less money. I’ve resigned myself to rent until I die here in SD.
ParticipantOne other thing, it is is a misconception to think you are only competing with people limited to 3X’s income. Maybe people have cash or bring a larger down, use the bank of mom and dad. FHA can use a qualified family member or family-member-like cosigner. There are also people who might use a low down but only part of what they could potentially qualify for on income to
Exactly. And these people are always going to be around. I think I’ve realized that the house I want is ALWAYS going to be too expensive to purchase, so I’ll just rent it instead for a lot less money. I’ve resigned myself to rent until I die here in SD.
ParticipantOne other thing, it is is a misconception to think you are only competing with people limited to 3X’s income. Maybe people have cash or bring a larger down, use the bank of mom and dad. FHA can use a qualified family member or family-member-like cosigner. There are also people who might use a low down but only part of what they could potentially qualify for on income to
Exactly. And these people are always going to be around. I think I’ve realized that the house I want is ALWAYS going to be too expensive to purchase, so I’ll just rent it instead for a lot less money. I’ve resigned myself to rent until I die here in SD.
ParticipantOne other thing, it is is a misconception to think you are only competing with people limited to 3X’s income. Maybe people have cash or bring a larger down, use the bank of mom and dad. FHA can use a qualified family member or family-member-like cosigner. There are also people who might use a low down but only part of what they could potentially qualify for on income to
Exactly. And these people are always going to be around. I think I’ve realized that the house I want is ALWAYS going to be too expensive to purchase, so I’ll just rent it instead for a lot less money. I’ve resigned myself to rent until I die here in SD.
ParticipantOne other thing, it is is a misconception to think you are only competing with people limited to 3X’s income. Maybe people have cash or bring a larger down, use the bank of mom and dad. FHA can use a qualified family member or family-member-like cosigner. There are also people who might use a low down but only part of what they could potentially qualify for on income to
Exactly. And these people are always going to be around. I think I’ve realized that the house I want is ALWAYS going to be too expensive to purchase, so I’ll just rent it instead for a lot less money. I’ve resigned myself to rent until I die here in SD.
ParticipantYeah it sucks Tom, I know. Of course I used to own a place here (sold in 2005) and it had a draconian HOA so sometimes there’s not a lot of difference. Maybe try to get a rental that has a garage? That’s what I did.
Oh, and the $8K buyer credit? I’ll bet that gets extended for another year…
ParticipantYeah it sucks Tom, I know. Of course I used to own a place here (sold in 2005) and it had a draconian HOA so sometimes there’s not a lot of difference. Maybe try to get a rental that has a garage? That’s what I did.
Oh, and the $8K buyer credit? I’ll bet that gets extended for another year…
ParticipantYeah it sucks Tom, I know. Of course I used to own a place here (sold in 2005) and it had a draconian HOA so sometimes there’s not a lot of difference. Maybe try to get a rental that has a garage? That’s what I did.
Oh, and the $8K buyer credit? I’ll bet that gets extended for another year…
ParticipantYeah it sucks Tom, I know. Of course I used to own a place here (sold in 2005) and it had a draconian HOA so sometimes there’s not a lot of difference. Maybe try to get a rental that has a garage? That’s what I did.
Oh, and the $8K buyer credit? I’ll bet that gets extended for another year…
ParticipantYeah it sucks Tom, I know. Of course I used to own a place here (sold in 2005) and it had a draconian HOA so sometimes there’s not a lot of difference. Maybe try to get a rental that has a garage? That’s what I did.
Oh, and the $8K buyer credit? I’ll bet that gets extended for another year…
ParticipantI’ve stopped looking except for entertainment purposes. My rent hasn’t gone up in years. Unless you want to live in the outlying areas like Temecula (which is nice if you work and live there), there still don’t seem to be a lot of good deals available. My advice? Get used to renting. The people who are in those places aren’t going to drop the prices until they’re forced and guess what, they’re not going to be because they’re going to get loan reworks. As for the bank foreclosures, those are being held back with help from the government and your tax $$$. Sucks but that’s the way it is. Welcome to the American Soviet. Get out and enjoy the sunshine. Go ahead and paint the interior of your rental. Who cares?
ParticipantI’ve stopped looking except for entertainment purposes. My rent hasn’t gone up in years. Unless you want to live in the outlying areas like Temecula (which is nice if you work and live there), there still don’t seem to be a lot of good deals available. My advice? Get used to renting. The people who are in those places aren’t going to drop the prices until they’re forced and guess what, they’re not going to be because they’re going to get loan reworks. As for the bank foreclosures, those are being held back with help from the government and your tax $$$. Sucks but that’s the way it is. Welcome to the American Soviet. Get out and enjoy the sunshine. Go ahead and paint the interior of your rental. Who cares?
ParticipantI’ve stopped looking except for entertainment purposes. My rent hasn’t gone up in years. Unless you want to live in the outlying areas like Temecula (which is nice if you work and live there), there still don’t seem to be a lot of good deals available. My advice? Get used to renting. The people who are in those places aren’t going to drop the prices until they’re forced and guess what, they’re not going to be because they’re going to get loan reworks. As for the bank foreclosures, those are being held back with help from the government and your tax $$$. Sucks but that’s the way it is. Welcome to the American Soviet. Get out and enjoy the sunshine. Go ahead and paint the interior of your rental. Who cares?
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