[carlsbadworker]

I think it is a good policy, but it’s surprising that it took so long for them to realize that. Even the non-economists on this board know, the only problem for the housing market is that it was not priced right. However, because most people are borrowers when it comes to the house purchase. Mortgage rates play part of the role in the overall pricing. I will say lower rate is better than lower price…because for one thing, it would provide less incentive for capable homeowners to abandon their homes which makes less financial sense every single day. If some of you think that housing market is in a turmoil right now, wait until everyone has -$500K negative equity. That is depression in my book.
I think 2009 is a great year to buy house at such 4.5% rate because I firmly believe inflation is on the horizon. For the record, I am not and will never be a gold bug. But Fed/Treasury has consistently showed that they will do whatever take (including keep the money printing press running at full speed) to avoid economy crisis. And guess what, I don’t know what day it will come, when they averted the last crisis, they would already erred on the inflation side. But because job market is a delayed indicator, the political pressure will be so great that they will not be able to curb the inflation in time.
2009 will be the best year to be buying your house. Heck, I am even trying to buy a house at the listing price (as long as it is in great condition and list price is below the market price) here in Temecula at the end of 2008.

[carlsbadworker]

I think it is a good policy, but it’s surprising that it took so long for them to realize that. Even the non-economists on this board know, the only problem for the housing market is that it was not priced right. However, because most people are borrowers when it comes to the house purchase. Mortgage rates play part of the role in the overall pricing. I will say lower rate is better than lower price…because for one thing, it would provide less incentive for capable homeowners to abandon their homes which makes less financial sense every single day. If some of you think that housing market is in a turmoil right now, wait until everyone has -$500K negative equity. That is depression in my book.
I think 2009 is a great year to buy house at such 4.5% rate because I firmly believe inflation is on the horizon. For the record, I am not and will never be a gold bug. But Fed/Treasury has consistently showed that they will do whatever take (including keep the money printing press running at full speed) to avoid economy crisis. And guess what, I don’t know what day it will come, when they averted the last crisis, they would already erred on the inflation side. But because job market is a delayed indicator, the political pressure will be so great that they will not be able to curb the inflation in time.
2009 will be the best year to be buying your house. Heck, I am even trying to buy a house at the listing price (as long as it is in great condition and list price is below the market price) here in Temecula at the end of 2008.

[carlsbadworker]

I think it is a good policy, but it’s surprising that it took so long for them to realize that. Even the non-economists on this board know, the only problem for the housing market is that it was not priced right. However, because most people are borrowers when it comes to the house purchase. Mortgage rates play part of the role in the overall pricing. I will say lower rate is better than lower price…because for one thing, it would provide less incentive for capable homeowners to abandon their homes which makes less financial sense every single day. If some of you think that housing market is in a turmoil right now, wait until everyone has -$500K negative equity. That is depression in my book.
I think 2009 is a great year to buy house at such 4.5% rate because I firmly believe inflation is on the horizon. For the record, I am not and will never be a gold bug. But Fed/Treasury has consistently showed that they will do whatever take (including keep the money printing press running at full speed) to avoid economy crisis. And guess what, I don’t know what day it will come, when they averted the last crisis, they would already erred on the inflation side. But because job market is a delayed indicator, the political pressure will be so great that they will not be able to curb the inflation in time.
2009 will be the best year to be buying your house. Heck, I am even trying to buy a house at the listing price (as long as it is in great condition and list price is below the market price) here in Temecula at the end of 2008.

[carlsbadworker]

I think it is a good policy, but it’s surprising that it took so long for them to realize that. Even the non-economists on this board know, the only problem for the housing market is that it was not priced right. However, because most people are borrowers when it comes to the house purchase. Mortgage rates play part of the role in the overall pricing. I will say lower rate is better than lower price…because for one thing, it would provide less incentive for capable homeowners to abandon their homes which makes less financial sense every single day. If some of you think that housing market is in a turmoil right now, wait until everyone has -$500K negative equity. That is depression in my book.
I think 2009 is a great year to buy house at such 4.5% rate because I firmly believe inflation is on the horizon. For the record, I am not and will never be a gold bug. But Fed/Treasury has consistently showed that they will do whatever take (including keep the money printing press running at full speed) to avoid economy crisis. And guess what, I don’t know what day it will come, when they averted the last crisis, they would already erred on the inflation side. But because job market is a delayed indicator, the political pressure will be so great that they will not be able to curb the inflation in time.
2009 will be the best year to be buying your house. Heck, I am even trying to buy a house at the listing price (as long as it is in great condition and list price is below the market price) here in Temecula at the end of 2008.

[carlsbadworker]

I think it is a good policy, but it’s surprising that it took so long for them to realize that. Even the non-economists on this board know, the only problem for the housing market is that it was not priced right. However, because most people are borrowers when it comes to the house purchase. Mortgage rates play part of the role in the overall pricing. I will say lower rate is better than lower price…because for one thing, it would provide less incentive for capable homeowners to abandon their homes which makes less financial sense every single day. If some of you think that housing market is in a turmoil right now, wait until everyone has -$500K negative equity. That is depression in my book.
I think 2009 is a great year to buy house at such 4.5% rate because I firmly believe inflation is on the horizon. For the record, I am not and will never be a gold bug. But Fed/Treasury has consistently showed that they will do whatever take (including keep the money printing press running at full speed) to avoid economy crisis. And guess what, I don’t know what day it will come, when they averted the last crisis, they would already erred on the inflation side. But because job market is a delayed indicator, the political pressure will be so great that they will not be able to curb the inflation in time.
2009 will be the best year to be buying your house. Heck, I am even trying to buy a house at the listing price (as long as it is in great condition and list price is below the market price) here in Temecula at the end of 2008.

[carlsbadworker]

I agree with sdr. What and where is more important than when. “Finding a house you actually like is much harder than most piggies think.” I have pulled trigger twice in the last month or so. One in late Oct (outbid by another offer) and one in late Nov (still waiting for the answer). That is despite visiting about 10 houses a month, reading MLS listing for 50 houses a month, I only find one house that I really like to live in for each month.

So what if I overpaid a little? With 20% down, I am still looking at 2x income or 50%-off what the original owner has paid (I am only looking in Temecula area due to family reason).

A deal for something that you don’t like is not a deal. Therefore, I don’t understand all the black Friday madness. Most of the stuff that are on sale are garbage anyway.

[carlsbadworker]

I agree with sdr. What and where is more important than when. “Finding a house you actually like is much harder than most piggies think.” I have pulled trigger twice in the last month or so. One in late Oct (outbid by another offer) and one in late Nov (still waiting for the answer). That is despite visiting about 10 houses a month, reading MLS listing for 50 houses a month, I only find one house that I really like to live in for each month.

So what if I overpaid a little? With 20% down, I am still looking at 2x income or 50%-off what the original owner has paid (I am only looking in Temecula area due to family reason).

A deal for something that you don’t like is not a deal. Therefore, I don’t understand all the black Friday madness. Most of the stuff that are on sale are garbage anyway.

[carlsbadworker]

I agree with sdr. What and where is more important than when. “Finding a house you actually like is much harder than most piggies think.” I have pulled trigger twice in the last month or so. One in late Oct (outbid by another offer) and one in late Nov (still waiting for the answer). That is despite visiting about 10 houses a month, reading MLS listing for 50 houses a month, I only find one house that I really like to live in for each month.

So what if I overpaid a little? With 20% down, I am still looking at 2x income or 50%-off what the original owner has paid (I am only looking in Temecula area due to family reason).

A deal for something that you don’t like is not a deal. Therefore, I don’t understand all the black Friday madness. Most of the stuff that are on sale are garbage anyway.

[carlsbadworker]

I agree with sdr. What and where is more important than when. “Finding a house you actually like is much harder than most piggies think.” I have pulled trigger twice in the last month or so. One in late Oct (outbid by another offer) and one in late Nov (still waiting for the answer). That is despite visiting about 10 houses a month, reading MLS listing for 50 houses a month, I only find one house that I really like to live in for each month.

So what if I overpaid a little? With 20% down, I am still looking at 2x income or 50%-off what the original owner has paid (I am only looking in Temecula area due to family reason).

A deal for something that you don’t like is not a deal. Therefore, I don’t understand all the black Friday madness. Most of the stuff that are on sale are garbage anyway.

[carlsbadworker]

I agree with sdr. What and where is more important than when. “Finding a house you actually like is much harder than most piggies think.” I have pulled trigger twice in the last month or so. One in late Oct (outbid by another offer) and one in late Nov (still waiting for the answer). That is despite visiting about 10 houses a month, reading MLS listing for 50 houses a month, I only find one house that I really like to live in for each month.

So what if I overpaid a little? With 20% down, I am still looking at 2x income or 50%-off what the original owner has paid (I am only looking in Temecula area due to family reason).

A deal for something that you don’t like is not a deal. Therefore, I don’t understand all the black Friday madness. Most of the stuff that are on sale are garbage anyway.

[carlsbadworker]

[quote=Ricechex]Well, to add insult to injury…it looks like all of the uproar about the 700B bailout bill is nothing but a mere memory. Today, the government gave MORE money to Fannie and Freddie.

“None of the $600 billion used to purchase this debt or these mortgage-backed securities will come from TARP.”

Apparently, the house does not even get a chance to vote on these issues now.

Is this really happenning? It didn’t even make front page news. 600 Billion!

http://washingtontimes.com/news/2008/nov/26/bailout-increases-by-800-billion/

[/quote]

Yes. That’s really disgusting. I thought that since TARP money won’t be used for mortgage-backed securities anymore, taxpayers are finally protected from these toxic assets.
By the way, since TARP is not longer really for “Troubled Asset” Relief Program, it should start to use its real name “Credit Relief Alternative Program”, or CRAP in short.

[carlsbadworker]

[quote=Ricechex]Well, to add insult to injury…it looks like all of the uproar about the 700B bailout bill is nothing but a mere memory. Today, the government gave MORE money to Fannie and Freddie.

“None of the $600 billion used to purchase this debt or these mortgage-backed securities will come from TARP.”

Apparently, the house does not even get a chance to vote on these issues now.

Is this really happenning? It didn’t even make front page news. 600 Billion!

http://washingtontimes.com/news/2008/nov/26/bailout-increases-by-800-billion/

[/quote]

Yes. That’s really disgusting. I thought that since TARP money won’t be used for mortgage-backed securities anymore, taxpayers are finally protected from these toxic assets.
By the way, since TARP is not longer really for “Troubled Asset” Relief Program, it should start to use its real name “Credit Relief Alternative Program”, or CRAP in short.

[carlsbadworker]

[quote=Ricechex]Well, to add insult to injury…it looks like all of the uproar about the 700B bailout bill is nothing but a mere memory. Today, the government gave MORE money to Fannie and Freddie.

“None of the $600 billion used to purchase this debt or these mortgage-backed securities will come from TARP.”

Apparently, the house does not even get a chance to vote on these issues now.

Is this really happenning? It didn’t even make front page news. 600 Billion!

http://washingtontimes.com/news/2008/nov/26/bailout-increases-by-800-billion/

[/quote]

Yes. That’s really disgusting. I thought that since TARP money won’t be used for mortgage-backed securities anymore, taxpayers are finally protected from these toxic assets.
By the way, since TARP is not longer really for “Troubled Asset” Relief Program, it should start to use its real name “Credit Relief Alternative Program”, or CRAP in short.

[carlsbadworker]

[quote=Ricechex]Well, to add insult to injury…it looks like all of the uproar about the 700B bailout bill is nothing but a mere memory. Today, the government gave MORE money to Fannie and Freddie.

“None of the $600 billion used to purchase this debt or these mortgage-backed securities will come from TARP.”

Apparently, the house does not even get a chance to vote on these issues now.

Is this really happenning? It didn’t even make front page news. 600 Billion!

http://washingtontimes.com/news/2008/nov/26/bailout-increases-by-800-billion/

[/quote]

Yes. That’s really disgusting. I thought that since TARP money won’t be used for mortgage-backed securities anymore, taxpayers are finally protected from these toxic assets.
By the way, since TARP is not longer really for “Troubled Asset” Relief Program, it should start to use its real name “Credit Relief Alternative Program”, or CRAP in short.

[carlsbadworker]

[quote=Ricechex]Well, to add insult to injury…it looks like all of the uproar about the 700B bailout bill is nothing but a mere memory. Today, the government gave MORE money to Fannie and Freddie.

“None of the $600 billion used to purchase this debt or these mortgage-backed securities will come from TARP.”

Apparently, the house does not even get a chance to vote on these issues now.

Is this really happenning? It didn’t even make front page news. 600 Billion!

http://washingtontimes.com/news/2008/nov/26/bailout-increases-by-800-billion/

[/quote]

Yes. That’s really disgusting. I thought that since TARP money won’t be used for mortgage-backed securities anymore, taxpayers are finally protected from these toxic assets.
By the way, since TARP is not longer really for “Troubled Asset” Relief Program, it should start to use its real name “Credit Relief Alternative Program”, or CRAP in short.

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