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ParticipantIt’s going to take a long, long, long time for things to settle down. Imagine this situation:
* Couple buys nice home for $500K in 2000.
* Property appreciates to $900K+
* Couple divorces and wife gets the house OR husband retires.The wife (divorce case) or husband (retirement case) can’t really afford the payments on their reduced income but has got a lot of equity, or so they think. So they use the HELOC a couple of times a year to make up the difference.
These folks will not sell until there is no more HELOC money, all possible rooms have been rented out, all of the stuff has been sold, the 401K is empty, the credit cards are drained etc… Although they have no business being in the house they will slowly consume all of their resources to remain there.
I believe that there are lots and lots of people in this situation, slowly digging themselves further and further into the hole in order to keep up appearances and continue living as they have been for the last 8 years.
Once these people start losing their homes en masse we will be near the bottom. I think that is still a good 3-5 years out.
Of course I could be wrong and prices will never come down in NC, La Jolla, Mission Hills, etc…
ParticipantIt’s going to take a long, long, long time for things to settle down. Imagine this situation:
* Couple buys nice home for $500K in 2000.
* Property appreciates to $900K+
* Couple divorces and wife gets the house OR husband retires.The wife (divorce case) or husband (retirement case) can’t really afford the payments on their reduced income but has got a lot of equity, or so they think. So they use the HELOC a couple of times a year to make up the difference.
These folks will not sell until there is no more HELOC money, all possible rooms have been rented out, all of the stuff has been sold, the 401K is empty, the credit cards are drained etc… Although they have no business being in the house they will slowly consume all of their resources to remain there.
I believe that there are lots and lots of people in this situation, slowly digging themselves further and further into the hole in order to keep up appearances and continue living as they have been for the last 8 years.
Once these people start losing their homes en masse we will be near the bottom. I think that is still a good 3-5 years out.
Of course I could be wrong and prices will never come down in NC, La Jolla, Mission Hills, etc…
ParticipantIt’s going to take a long, long, long time for things to settle down. Imagine this situation:
* Couple buys nice home for $500K in 2000.
* Property appreciates to $900K+
* Couple divorces and wife gets the house OR husband retires.The wife (divorce case) or husband (retirement case) can’t really afford the payments on their reduced income but has got a lot of equity, or so they think. So they use the HELOC a couple of times a year to make up the difference.
These folks will not sell until there is no more HELOC money, all possible rooms have been rented out, all of the stuff has been sold, the 401K is empty, the credit cards are drained etc… Although they have no business being in the house they will slowly consume all of their resources to remain there.
I believe that there are lots and lots of people in this situation, slowly digging themselves further and further into the hole in order to keep up appearances and continue living as they have been for the last 8 years.
Once these people start losing their homes en masse we will be near the bottom. I think that is still a good 3-5 years out.
Of course I could be wrong and prices will never come down in NC, La Jolla, Mission Hills, etc…
ParticipantIt’s going to take a long, long, long time for things to settle down. Imagine this situation:
* Couple buys nice home for $500K in 2000.
* Property appreciates to $900K+
* Couple divorces and wife gets the house OR husband retires.The wife (divorce case) or husband (retirement case) can’t really afford the payments on their reduced income but has got a lot of equity, or so they think. So they use the HELOC a couple of times a year to make up the difference.
These folks will not sell until there is no more HELOC money, all possible rooms have been rented out, all of the stuff has been sold, the 401K is empty, the credit cards are drained etc… Although they have no business being in the house they will slowly consume all of their resources to remain there.
I believe that there are lots and lots of people in this situation, slowly digging themselves further and further into the hole in order to keep up appearances and continue living as they have been for the last 8 years.
Once these people start losing their homes en masse we will be near the bottom. I think that is still a good 3-5 years out.
Of course I could be wrong and prices will never come down in NC, La Jolla, Mission Hills, etc…
ParticipantIt’s going to take a long, long, long time for things to settle down. Imagine this situation:
* Couple buys nice home for $500K in 2000.
* Property appreciates to $900K+
* Couple divorces and wife gets the house OR husband retires.The wife (divorce case) or husband (retirement case) can’t really afford the payments on their reduced income but has got a lot of equity, or so they think. So they use the HELOC a couple of times a year to make up the difference.
These folks will not sell until there is no more HELOC money, all possible rooms have been rented out, all of the stuff has been sold, the 401K is empty, the credit cards are drained etc… Although they have no business being in the house they will slowly consume all of their resources to remain there.
I believe that there are lots and lots of people in this situation, slowly digging themselves further and further into the hole in order to keep up appearances and continue living as they have been for the last 8 years.
Once these people start losing their homes en masse we will be near the bottom. I think that is still a good 3-5 years out.
Of course I could be wrong and prices will never come down in NC, La Jolla, Mission Hills, etc…
ParticipantThe American people like to hear simple stories and the media are always willing to oblige them, especially at election time. The stories we heard in the last two presidential elections were:
2000 – The Good Old Boy versus Mister Smartypants
2004 – The Good Old Boy versus Swift Boat Liar Man From Tax-achusettsIn 2008, the media will give us one of the two following story lines:
2008 – Mister Nine-Eleven Man versus Scary Woman-Man
– OR –
2008 – Mister Nine-Eleven Man versus The Guy Whose Name Sounds Like “Osama”
No other stories are going to be allowed. No matter how much sense any of the other candidates make, no matter how valid their points or how logical they are, presidential elections aren’t about logic or sense. They are about giving the American people the illusion that they have some input into the actions of the federal government. This has not been true in a very long time, so to keep us happy the media gives us story-time. Presidential election story-time serves the same purpose as preschool story-time; it makes our eyelids grow heavy and we inevitably drift off to sleep for another four years while they ship our jobs off to God-knows-where, debase our currency, and allow illegal immigrants to run riot in our streets.
As for myself, I haven’t decided who to vote for. Will it be Mister Nine-Eleven Man or Scary Woman-Man? Certainly not The Guy Whose Name Sounds Like “Osama”. I really like Mister Gold Standard Man, but I suspect if he gains much more momentum, he will be pushed towards an independent run ala Ross Perot in 1992; this will split the Republican vote and tilt the election to Scary Woman-Man in 2008. Mister Gold Standard Man will simply never be allowed to win the Republican nomination.
Back to sleep everyone. Blue pills all around…
ParticipantThe American people like to hear simple stories and the media are always willing to oblige them, especially at election time. The stories we heard in the last two presidential elections were:
2000 – The Good Old Boy versus Mister Smartypants
2004 – The Good Old Boy versus Swift Boat Liar Man From Tax-achusettsIn 2008, the media will give us one of the two following story lines:
2008 – Mister Nine-Eleven Man versus Scary Woman-Man
– OR –
2008 – Mister Nine-Eleven Man versus The Guy Whose Name Sounds Like “Osama”
No other stories are going to be allowed. No matter how much sense any of the other candidates make, no matter how valid their points or how logical they are, presidential elections aren’t about logic or sense. They are about giving the American people the illusion that they have some input into the actions of the federal government. This has not been true in a very long time, so to keep us happy the media gives us story-time. Presidential election story-time serves the same purpose as preschool story-time; it makes our eyelids grow heavy and we inevitably drift off to sleep for another four years while they ship our jobs off to God-knows-where, debase our currency, and allow illegal immigrants to run riot in our streets.
As for myself, I haven’t decided who to vote for. Will it be Mister Nine-Eleven Man or Scary Woman-Man? Certainly not The Guy Whose Name Sounds Like “Osama”. I really like Mister Gold Standard Man, but I suspect if he gains much more momentum, he will be pushed towards an independent run ala Ross Perot in 1992; this will split the Republican vote and tilt the election to Scary Woman-Man in 2008. Mister Gold Standard Man will simply never be allowed to win the Republican nomination.
Back to sleep everyone. Blue pills all around…
ParticipantThe American people like to hear simple stories and the media are always willing to oblige them, especially at election time. The stories we heard in the last two presidential elections were:
2000 – The Good Old Boy versus Mister Smartypants
2004 – The Good Old Boy versus Swift Boat Liar Man From Tax-achusettsIn 2008, the media will give us one of the two following story lines:
2008 – Mister Nine-Eleven Man versus Scary Woman-Man
– OR –
2008 – Mister Nine-Eleven Man versus The Guy Whose Name Sounds Like “Osama”
No other stories are going to be allowed. No matter how much sense any of the other candidates make, no matter how valid their points or how logical they are, presidential elections aren’t about logic or sense. They are about giving the American people the illusion that they have some input into the actions of the federal government. This has not been true in a very long time, so to keep us happy the media gives us story-time. Presidential election story-time serves the same purpose as preschool story-time; it makes our eyelids grow heavy and we inevitably drift off to sleep for another four years while they ship our jobs off to God-knows-where, debase our currency, and allow illegal immigrants to run riot in our streets.
As for myself, I haven’t decided who to vote for. Will it be Mister Nine-Eleven Man or Scary Woman-Man? Certainly not The Guy Whose Name Sounds Like “Osama”. I really like Mister Gold Standard Man, but I suspect if he gains much more momentum, he will be pushed towards an independent run ala Ross Perot in 1992; this will split the Republican vote and tilt the election to Scary Woman-Man in 2008. Mister Gold Standard Man will simply never be allowed to win the Republican nomination.
Back to sleep everyone. Blue pills all around…
ParticipantThe American people like to hear simple stories and the media are always willing to oblige them, especially at election time. The stories we heard in the last two presidential elections were:
2000 – The Good Old Boy versus Mister Smartypants
2004 – The Good Old Boy versus Swift Boat Liar Man From Tax-achusettsIn 2008, the media will give us one of the two following story lines:
2008 – Mister Nine-Eleven Man versus Scary Woman-Man
– OR –
2008 – Mister Nine-Eleven Man versus The Guy Whose Name Sounds Like “Osama”
No other stories are going to be allowed. No matter how much sense any of the other candidates make, no matter how valid their points or how logical they are, presidential elections aren’t about logic or sense. They are about giving the American people the illusion that they have some input into the actions of the federal government. This has not been true in a very long time, so to keep us happy the media gives us story-time. Presidential election story-time serves the same purpose as preschool story-time; it makes our eyelids grow heavy and we inevitably drift off to sleep for another four years while they ship our jobs off to God-knows-where, debase our currency, and allow illegal immigrants to run riot in our streets.
As for myself, I haven’t decided who to vote for. Will it be Mister Nine-Eleven Man or Scary Woman-Man? Certainly not The Guy Whose Name Sounds Like “Osama”. I really like Mister Gold Standard Man, but I suspect if he gains much more momentum, he will be pushed towards an independent run ala Ross Perot in 1992; this will split the Republican vote and tilt the election to Scary Woman-Man in 2008. Mister Gold Standard Man will simply never be allowed to win the Republican nomination.
Back to sleep everyone. Blue pills all around…
ParticipantThe American people like to hear simple stories and the media are always willing to oblige them, especially at election time. The stories we heard in the last two presidential elections were:
2000 – The Good Old Boy versus Mister Smartypants
2004 – The Good Old Boy versus Swift Boat Liar Man From Tax-achusettsIn 2008, the media will give us one of the two following story lines:
2008 – Mister Nine-Eleven Man versus Scary Woman-Man
– OR –
2008 – Mister Nine-Eleven Man versus The Guy Whose Name Sounds Like “Osama”
No other stories are going to be allowed. No matter how much sense any of the other candidates make, no matter how valid their points or how logical they are, presidential elections aren’t about logic or sense. They are about giving the American people the illusion that they have some input into the actions of the federal government. This has not been true in a very long time, so to keep us happy the media gives us story-time. Presidential election story-time serves the same purpose as preschool story-time; it makes our eyelids grow heavy and we inevitably drift off to sleep for another four years while they ship our jobs off to God-knows-where, debase our currency, and allow illegal immigrants to run riot in our streets.
As for myself, I haven’t decided who to vote for. Will it be Mister Nine-Eleven Man or Scary Woman-Man? Certainly not The Guy Whose Name Sounds Like “Osama”. I really like Mister Gold Standard Man, but I suspect if he gains much more momentum, he will be pushed towards an independent run ala Ross Perot in 1992; this will split the Republican vote and tilt the election to Scary Woman-Man in 2008. Mister Gold Standard Man will simply never be allowed to win the Republican nomination.
Back to sleep everyone. Blue pills all around…
ParticipantAllow me to summarize the responses that we will surely soon see to this post, so that we don’t have to waste any time reading them.
* Our economic problems are nothing in comparison to the problems we face from the islamofascists that want to kill us all.
* Our economic problems have nothing to do with George Bush or the pre-2006 Republican congress. They are all the fault of cowardly democrat traitor terrorist-appeaser commies.
* George Bush’s tax cuts have worked miracles on the economy, you people are all just too biased to see it.
* Al Gore is a fat poo-poo head and our economy would be much worse had he been elected president.
* The economy was good in the 90s only because it was so bad under George H.W. Bush. He did all of the hard work and Clinton took credit for the results. And Clinton got a BJ and lied about it hee hee.
ParticipantHahaha Cheaters — I think you just added even more credence to Borat’s point about Dallas. Remember the episode where Greco got stabbed by an angry piece of Texas White Trash? What a great show, I think I’ve seen every episode!
ParticipantI’m assuming you’re being facetious when you complain about a $30/month rent increase. If your rent is $1500/mo that’s a 2% increase, less than real inflation. If your rent is $1000/mo that’s still only a 3% increase! Sounds like you’re getting a bargain to me…
September 1, 2007 at 9:57 AM in reply to: Why is Texas dirt cheap compared to California for real estate? #82937ParticipantThe spiders and bugs worry me but we have bugs in California too.
Ho ho ho hee hee hee ha ha ha. The difference between bugs here in SD and bugs in Texas is like the difference between pee wee football and the NFL. You obviously haven’t spent much time in Texas, particulary the Eastern half that gets all of the rain. Allow me to introduce you to some of the new friends you’ll have if you move there:
Fire Ants. Unbelievably nasty animals, you can’t even imagine how fast and ferocious these are. As an added bonus you won’t notice they’re stinging you until a few seconds after it happens. This gives the hundreds of others swarming up your leg time to sting you too. A great portion of your life will be spent trying to rid your yard of these pests. You will never succeed.
Yellow Jackets. These guys will build nests in your eaves and attic and sting you at inopportune times. Very painful sting.
Cicadas. These don’t bite but they reproduce in incredible numbers and make a really loud racket at night. Their dead corpses and exoskeletons end up everywhere.
Crickets. Awww, crickets are cute, what could possibly be wrong with them? Imagine BILLIONS of crickets covering the road, covering your garage floor, infiltrating office buildings, hopping, whizzing around everywhere. This happens every few years across north Texas. You can’t believe how unpleasant and nasty this is until you experience it.
I could go on and on but I won’t. The mosquitos get pretty bad across the state because of all of the lakes and rivers.
But you can get a nice big house for cheap there!
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