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bsrsharma
ParticipantActually it is more like a million+ $ for 500 or so plaintiffs. A drop in the bucket in LA. And sadly, a good chunk of that goes to lawyers.
Another question: How many of you think the LA Archdiocese will go bankruptcy route to save their assets. It happened here with Portland Diocese. If that happens, the plaintiffs will collect even less than the 660 million judgment.
ParticipantActually it is more like a million+ $ for 500 or so plaintiffs. A drop in the bucket in LA. And sadly, a good chunk of that goes to lawyers.
Another question: How many of you think the LA Archdiocese will go bankruptcy route to save their assets. It happened here with Portland Diocese. If that happens, the plaintiffs will collect even less than the 660 million judgment.
July 16, 2007 at 8:44 PM in reply to: Chowderhead blows his top at foreclosure caller on KOGO show today #66079ParticipantI remember listening to his “Money in the morning” program 10-15 years back on AM 1000. I did learn something about the mechanics of mortgage markets from his program but I remember him always being very cheerful about all investments, not just real estate. He was equally sunny about stocks, bonds, funds what have you. His investment mantra has always been the same – when things go down, don’t despair – just invest some more in it (he calls it “$ cost averaging”). I thought he had lost that program after the tech bubble burst and finance journalism became passe. Looks like the real estate bubble brought him back.
July 16, 2007 at 8:44 PM in reply to: Chowderhead blows his top at foreclosure caller on KOGO show today #66144ParticipantI remember listening to his “Money in the morning” program 10-15 years back on AM 1000. I did learn something about the mechanics of mortgage markets from his program but I remember him always being very cheerful about all investments, not just real estate. He was equally sunny about stocks, bonds, funds what have you. His investment mantra has always been the same – when things go down, don’t despair – just invest some more in it (he calls it “$ cost averaging”). I thought he had lost that program after the tech bubble burst and finance journalism became passe. Looks like the real estate bubble brought him back.
ParticipantI can see stability being a factor against seeking rational place to live. But US being “immigrant nation”, why isn’t there more energy in “go heartland young man”. Can some of you who may be long time renters, but would have liked to buy a home if the price weren’t so high, tell what keeps you in SoCal (or whichever bubble market you are presently in)? As for me, a job transfer brought me over to Portland, Oregon about 2 years back from SD area. I am still renting here since I believe there will be a price correction.
ParticipantI can see stability being a factor against seeking rational place to live. But US being “immigrant nation”, why isn’t there more energy in “go heartland young man”. Can some of you who may be long time renters, but would have liked to buy a home if the price weren’t so high, tell what keeps you in SoCal (or whichever bubble market you are presently in)? As for me, a job transfer brought me over to Portland, Oregon about 2 years back from SD area. I am still renting here since I believe there will be a price correction.
ParticipantCan someone paraphrase what this event means to MBS/CDO/CMO etc., markets? Can some hedge funds be expected to melt down? Any impact on non-mortgage debt markets? can it unwind treasuries? push $ over the edge? Stock market seems not to be noticing any of this turmoil.
ParticipantCan someone paraphrase what this event means to MBS/CDO/CMO etc., markets? Can some hedge funds be expected to melt down? Any impact on non-mortgage debt markets? can it unwind treasuries? push $ over the edge? Stock market seems not to be noticing any of this turmoil.
ParticipantFormerOwner,
You are right about the elephants of the jungle living wherever they want to; but they can set up their branches, factories etc., in places in flyover country, USA where housing cost is a fraction of what it is in San Diego/OC/Silicon Valley/NYC rather than take a long jump to Asia.
ParticipantFormerOwner,
You are right about the elephants of the jungle living wherever they want to; but they can set up their branches, factories etc., in places in flyover country, USA where housing cost is a fraction of what it is in San Diego/OC/Silicon Valley/NYC rather than take a long jump to Asia.
Participant“The Chinese aren’t taking any extra default risk buying GNMAs instead of Treasuries. Principal repayment of both is fully guaranteed by the federal government.”
Then why can’t the Treas. Sec. place a few calls to his pals at JPM or Goldman and fix it. After all he is a wall street bigwig himself. Another question is, if the statement is true, why doesn’t the market just take care of it automatically? I am sure Alphonso isn’t passing the hat in China for treasuries yet (I hope)
“I wouldn’t pay attention to his rank… The Chinese know he’s just the delivery man.”
If it is minor issue, why need a delivery man? Standard tools of international diplomacy (financial attache at embassy etc. http://www.ustreas.gov/press/releases/js2961.htm
) should have sufficed.
“I think this is just one more piece of a multi-pronged effort to prop up house prices”
Isn’t GNMA mostly for FHA/VA housing? They are mostly smaller loans and shouldn’t upset the apple cart too much.
Participant“The Chinese aren’t taking any extra default risk buying GNMAs instead of Treasuries. Principal repayment of both is fully guaranteed by the federal government.”
Then why can’t the Treas. Sec. place a few calls to his pals at JPM or Goldman and fix it. After all he is a wall street bigwig himself. Another question is, if the statement is true, why doesn’t the market just take care of it automatically? I am sure Alphonso isn’t passing the hat in China for treasuries yet (I hope)
“I wouldn’t pay attention to his rank… The Chinese know he’s just the delivery man.”
If it is minor issue, why need a delivery man? Standard tools of international diplomacy (financial attache at embassy etc. http://www.ustreas.gov/press/releases/js2961.htm
) should have sufficed.
“I think this is just one more piece of a multi-pronged effort to prop up house prices”
Isn’t GNMA mostly for FHA/VA housing? They are mostly smaller loans and shouldn’t upset the apple cart too much.
ParticipantI have been having this fundamental question for some time, and would like to invite the readers to try to give some rational explanations:
Why is there the real estate axiom “location, location, location”?
Why are potential home buyers so keen on exactly where they want to live. I can understand some simple reasons like nearness to job, good schools etc., But what explains the reason that someone would pay millions of $ for a La Jolla house rather than live very well in a large fine estate in, say, Colorado, Idaho, Wyoming, Georgia, Carolinas etc., I won’t accept the argument that all those places are miserable armpits compared to SoCal. If sunny weather is desired, they can always visit Calif. or Florida for a vacation. I am sure a millionaire can get someone to clear the snow etc., Really well to do folks can practically work from anywhere with the modern conveniences. Why isn’t there a (much larger) “outsourcing” of home buyers and jobs to less expensive but good locales? Give me all your thoughts on this seemingly irrational behavior people make when it comes to choosing a place to live.
ParticipantI have been having this fundamental question for some time, and would like to invite the readers to try to give some rational explanations:
Why is there the real estate axiom “location, location, location”?
Why are potential home buyers so keen on exactly where they want to live. I can understand some simple reasons like nearness to job, good schools etc., But what explains the reason that someone would pay millions of $ for a La Jolla house rather than live very well in a large fine estate in, say, Colorado, Idaho, Wyoming, Georgia, Carolinas etc., I won’t accept the argument that all those places are miserable armpits compared to SoCal. If sunny weather is desired, they can always visit Calif. or Florida for a vacation. I am sure a millionaire can get someone to clear the snow etc., Really well to do folks can practically work from anywhere with the modern conveniences. Why isn’t there a (much larger) “outsourcing” of home buyers and jobs to less expensive but good locales? Give me all your thoughts on this seemingly irrational behavior people make when it comes to choosing a place to live.
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