[BuyerWillEPB]

“I couldn’t quite grasp the unbridled joy that the doom-and-gloomers seemed to have about the possibility that many families might lose THEIR HOMES in a downturn.

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Sorry George,

They are not THEIR HOMES until they pay back every penny of principal + interest on the suicide loans they signed to get into these homes. If every one of the families you mention would simply PAY THEIR MORTGAGES, not a single one of them will lose THEIR home.

But of course, almost none of 80% of the Loan-owners who took out the suicide loans could actually afford to make the real payments on these because that was never the intent to begin with. The intent was to continue to run up housing prices ever higher in order to steal the money from the next greater fool before the ARM resets kicked in. That way they could run away with the cash and leave me holding the bag.

It is this greed filled ponzi scheme that I take “unbridled joy” in seeing destroyed.

Just like you, George, I simply want, “a place to live for the rest of my life.” But because of the fraudulent housing price run ups you helped facilitate, my family and all future generations are now priced out forever.

Well, thanks to us on these blogs, maybe not “forever.”

[BuyerWillEPB]

I’m actually hoping the regular sellers who don’t really want to sell would hurry up and get off the MLS.

Most of the homes sold in San Diego county were financed with the dangerous ARM products that we are beginning to see foreclose en mass. I’ve seen articles mention that as much as 80% of the new mortgages between 2003 – 2006 were these toxic mortgages.

So yes, please, all you flipper wannabes out there give it up and take your POS off the market. I only want to be dealing with the thousands of desperate lender foreclosed properties increasing exponentially every month now.

[BuyerWillEPB]

I’m actually hoping the regular sellers who don’t really want to sell would hurry up and get off the MLS.

Most of the homes sold in San Diego county were financed with the dangerous ARM products that we are beginning to see foreclose en mass. I’ve seen articles mention that as much as 80% of the new mortgages between 2003 – 2006 were these toxic mortgages.

So yes, please, all you flipper wannabes out there give it up and take your POS off the market. I only want to be dealing with the thousands of desperate lender foreclosed properties increasing exponentially every month now.

[BuyerWillEPB]

I’m actually hoping the regular sellers who don’t really want to sell would hurry up and get off the MLS.

Most of the homes sold in San Diego county were financed with the dangerous ARM products that we are beginning to see foreclose en mass. I’ve seen articles mention that as much as 80% of the new mortgages between 2003 – 2006 were these toxic mortgages.

So yes, please, all you flipper wannabes out there give it up and take your POS off the market. I only want to be dealing with the thousands of desperate lender foreclosed properties increasing exponentially every month now.

[BuyerWillEPB]

Your link goes to some Broker’s blog and the funny thing is that they are talking about the ARM resets as if they will be a GOOD thing.

Hilarious!

(cue Gomer Pyle – Well suuurprise, suuurprise, suuurprise!)

They’ve got a surprise coming.

[BuyerWillEPB]

Your link goes to some Broker’s blog and the funny thing is that they are talking about the ARM resets as if they will be a GOOD thing.

Hilarious!

(cue Gomer Pyle – Well suuurprise, suuurprise, suuurprise!)

They’ve got a surprise coming.

[BuyerWillEPB]

Your link goes to some Broker’s blog and the funny thing is that they are talking about the ARM resets as if they will be a GOOD thing.

Hilarious!

(cue Gomer Pyle – Well suuurprise, suuurprise, suuurprise!)

They’ve got a surprise coming.

[BuyerWillEPB]

Mr Paulson… has opted for a softer form of diplomacy, but appeared to win few concession from Beijing on a unscheduled trip to China last week aimed at calming the waters.
———————————————————–

I think that a “softer” form of diplomacy is the wisest path for the US these days.

I spent 3 months traveling all over China a couple years ago. There were many times when I would see or hear about the things the Western powers (barbarians, they call us) did to them back in the 1800’s and 1900’s. We, collectively (meaning USA, Europe, and Japan), inflicted embarrassing Unequal Treaties on China when they were weak. The amazing part to me was how they still remember it as if it was yesterday, and not 100+ years ago. I mean most Americans don’t even know that we fought a military campaign in China in 1901. But believe me when I tell you that THEY remember this very well, even to this day.

So now that WE are in the weak position, it’s not the time to try and strong arm China. They have us by our economic short and curlies, and they are looking for any excuse to get a little pay back from our mistreatment of them in the past.

[BuyerWillEPB]

Mr Paulson… has opted for a softer form of diplomacy, but appeared to win few concession from Beijing on a unscheduled trip to China last week aimed at calming the waters.
———————————————————–

I think that a “softer” form of diplomacy is the wisest path for the US these days.

I spent 3 months traveling all over China a couple years ago. There were many times when I would see or hear about the things the Western powers (barbarians, they call us) did to them back in the 1800’s and 1900’s. We, collectively (meaning USA, Europe, and Japan), inflicted embarrassing Unequal Treaties on China when they were weak. The amazing part to me was how they still remember it as if it was yesterday, and not 100+ years ago. I mean most Americans don’t even know that we fought a military campaign in China in 1901. But believe me when I tell you that THEY remember this very well, even to this day.

So now that WE are in the weak position, it’s not the time to try and strong arm China. They have us by our economic short and curlies, and they are looking for any excuse to get a little pay back from our mistreatment of them in the past.

[BuyerWillEPB]

Mr Paulson… has opted for a softer form of diplomacy, but appeared to win few concession from Beijing on a unscheduled trip to China last week aimed at calming the waters.
———————————————————–

I think that a “softer” form of diplomacy is the wisest path for the US these days.

I spent 3 months traveling all over China a couple years ago. There were many times when I would see or hear about the things the Western powers (barbarians, they call us) did to them back in the 1800’s and 1900’s. We, collectively (meaning USA, Europe, and Japan), inflicted embarrassing Unequal Treaties on China when they were weak. The amazing part to me was how they still remember it as if it was yesterday, and not 100+ years ago. I mean most Americans don’t even know that we fought a military campaign in China in 1901. But believe me when I tell you that THEY remember this very well, even to this day.

So now that WE are in the weak position, it’s not the time to try and strong arm China. They have us by our economic short and curlies, and they are looking for any excuse to get a little pay back from our mistreatment of them in the past.

[BuyerWillEPB]

Hey Drew,

I just read that UT article and I also zeroed in on that same statement you mention:

“So far I’ve spent $30,000, I’ll spend another $50,000, and it will be worth $850,000 when I’m done.”

I was thinking to myself as I read it, “So you add $80,000 of retail improvements (means $30,000 of REAL value) and you do all the work yourself (not very much, I’m sure) and then you think your house is now suddenly worth $300,000 more? In THIS market? Riiiight!”

This is precisely why I will ONLY be shopping for homes with NO “improvements” or “remodels.” When I see a listing that says “Totally remodeled” I tend to just throw it away because I know they will be ripping me off.

On a positive note, I was very happy to see the housing bust story grace the front page of our UT today. This is a very good sign. Although they are still trying to emphasize how there are no significant price declines, and “There are no firesales out there.” This mentality will also change very, very soon.

[BuyerWillEPB]

Hey Drew,

I just read that UT article and I also zeroed in on that same statement you mention:

“So far I’ve spent $30,000, I’ll spend another $50,000, and it will be worth $850,000 when I’m done.”

I was thinking to myself as I read it, “So you add $80,000 of retail improvements (means $30,000 of REAL value) and you do all the work yourself (not very much, I’m sure) and then you think your house is now suddenly worth $300,000 more? In THIS market? Riiiight!”

This is precisely why I will ONLY be shopping for homes with NO “improvements” or “remodels.” When I see a listing that says “Totally remodeled” I tend to just throw it away because I know they will be ripping me off.

On a positive note, I was very happy to see the housing bust story grace the front page of our UT today. This is a very good sign. Although they are still trying to emphasize how there are no significant price declines, and “There are no firesales out there.” This mentality will also change very, very soon.

[BuyerWillEPB]

Good news, but when you say, “here” I wish it was really my here and not just “Temecula/murrieta here.”

[BuyerWillEPB]

Good news, but when you say, “here” I wish it was really my here and not just “Temecula/murrieta here.”

[BuyerWillEPB]

temeculaguy,

Sweet! Couldn’t have said it better myself.

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Yes Cramer, break out your biblical references, the seas will boil, fire and brimstone, and college grad couples starting out can buy a little house and still eat, oh noooo. What’s next? People turning into pillars of salt and teachers being able to buy homes?

[Author]

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