[cr]

In other words, we screwed up by letting this thing get so out of hand and turning a blind eye to investment banks making billions off shady loans, and lending them money to do it. Now we need to offer more money to more failing institutions at the expense of the tax-payers, and anyone foolish enough to save money.

When will these people realize their socialist intervention is causing more problems than they solve?

Let the banks fail, let the homes foreclose, and let the “free” market correct itself.

Any bank foolish enough to lend $500k on $40k income deserves to go out of business. Any home”owner” who uses an ARM because they can’t afford the full payment and plans to sell shouldn’t be buying a home, and any congressmen who want to help should have to do so out of their own pocket. That’s enough taxpayer money in itself.

[cr]

In other words, we screwed up by letting this thing get so out of hand and turning a blind eye to investment banks making billions off shady loans, and lending them money to do it. Now we need to offer more money to more failing institutions at the expense of the tax-payers, and anyone foolish enough to save money.

When will these people realize their socialist intervention is causing more problems than they solve?

Let the banks fail, let the homes foreclose, and let the “free” market correct itself.

Any bank foolish enough to lend $500k on $40k income deserves to go out of business. Any home”owner” who uses an ARM because they can’t afford the full payment and plans to sell shouldn’t be buying a home, and any congressmen who want to help should have to do so out of their own pocket. That’s enough taxpayer money in itself.

[cr]

In other words, we screwed up by letting this thing get so out of hand and turning a blind eye to investment banks making billions off shady loans, and lending them money to do it. Now we need to offer more money to more failing institutions at the expense of the tax-payers, and anyone foolish enough to save money.

When will these people realize their socialist intervention is causing more problems than they solve?

Let the banks fail, let the homes foreclose, and let the “free” market correct itself.

Any bank foolish enough to lend $500k on $40k income deserves to go out of business. Any home”owner” who uses an ARM because they can’t afford the full payment and plans to sell shouldn’t be buying a home, and any congressmen who want to help should have to do so out of their own pocket. That’s enough taxpayer money in itself.

[cr]

In other words, we screwed up by letting this thing get so out of hand and turning a blind eye to investment banks making billions off shady loans, and lending them money to do it. Now we need to offer more money to more failing institutions at the expense of the tax-payers, and anyone foolish enough to save money.

When will these people realize their socialist intervention is causing more problems than they solve?

Let the banks fail, let the homes foreclose, and let the “free” market correct itself.

Any bank foolish enough to lend $500k on $40k income deserves to go out of business. Any home”owner” who uses an ARM because they can’t afford the full payment and plans to sell shouldn’t be buying a home, and any congressmen who want to help should have to do so out of their own pocket. That’s enough taxpayer money in itself.

[cr]

In other words, we screwed up by letting this thing get so out of hand and turning a blind eye to investment banks making billions off shady loans, and lending them money to do it. Now we need to offer more money to more failing institutions at the expense of the tax-payers, and anyone foolish enough to save money.

When will these people realize their socialist intervention is causing more problems than they solve?

Let the banks fail, let the homes foreclose, and let the “free” market correct itself.

Any bank foolish enough to lend $500k on $40k income deserves to go out of business. Any home”owner” who uses an ARM because they can’t afford the full payment and plans to sell shouldn’t be buying a home, and any congressmen who want to help should have to do so out of their own pocket. That’s enough taxpayer money in itself.

[cr]

I don’t think the majority of 20 somethings, even early 30-somethings have immediate plans to buy.

This demographic grew up with MTV, and will spend money on cars, clothes, and cell phones before saving for a down payment. Certainly not all, and probably none of us on these forums but I only know a small handful of people saving for a house.

It’s not necessarily that they don’t have the income, though many don’t, it’s more the mindset.

The idea of owning a home by the age of 30 in CA is fading IMO. People are pushing back marriage, kids, and home buying in favor of a comfortable lifestyle. They know homes are too expensive, so why try. Then there’s the issue of financial responsiblity. Those in this grouup that went to school are most likely in debt, and most if not all owe big time on credit cards.

All the more reason I think despite the quick correction we’re seeing, it will still drag on for a while.

I think there aren’t as many sideline sitters as the RE industry thinks. The few there are more than likely got out early-bubble to wait. First time buyers are few, and probably mid-30 dual income couples. You simply can’t afford an average CA home on an average mid-30’s single income.

[cr]

I don’t think the majority of 20 somethings, even early 30-somethings have immediate plans to buy.

This demographic grew up with MTV, and will spend money on cars, clothes, and cell phones before saving for a down payment. Certainly not all, and probably none of us on these forums but I only know a small handful of people saving for a house.

It’s not necessarily that they don’t have the income, though many don’t, it’s more the mindset.

The idea of owning a home by the age of 30 in CA is fading IMO. People are pushing back marriage, kids, and home buying in favor of a comfortable lifestyle. They know homes are too expensive, so why try. Then there’s the issue of financial responsiblity. Those in this grouup that went to school are most likely in debt, and most if not all owe big time on credit cards.

All the more reason I think despite the quick correction we’re seeing, it will still drag on for a while.

I think there aren’t as many sideline sitters as the RE industry thinks. The few there are more than likely got out early-bubble to wait. First time buyers are few, and probably mid-30 dual income couples. You simply can’t afford an average CA home on an average mid-30’s single income.

[cr]

I don’t think the majority of 20 somethings, even early 30-somethings have immediate plans to buy.

This demographic grew up with MTV, and will spend money on cars, clothes, and cell phones before saving for a down payment. Certainly not all, and probably none of us on these forums but I only know a small handful of people saving for a house.

It’s not necessarily that they don’t have the income, though many don’t, it’s more the mindset.

The idea of owning a home by the age of 30 in CA is fading IMO. People are pushing back marriage, kids, and home buying in favor of a comfortable lifestyle. They know homes are too expensive, so why try. Then there’s the issue of financial responsiblity. Those in this grouup that went to school are most likely in debt, and most if not all owe big time on credit cards.

All the more reason I think despite the quick correction we’re seeing, it will still drag on for a while.

I think there aren’t as many sideline sitters as the RE industry thinks. The few there are more than likely got out early-bubble to wait. First time buyers are few, and probably mid-30 dual income couples. You simply can’t afford an average CA home on an average mid-30’s single income.

[cr]

I don’t think the majority of 20 somethings, even early 30-somethings have immediate plans to buy.

This demographic grew up with MTV, and will spend money on cars, clothes, and cell phones before saving for a down payment. Certainly not all, and probably none of us on these forums but I only know a small handful of people saving for a house.

It’s not necessarily that they don’t have the income, though many don’t, it’s more the mindset.

The idea of owning a home by the age of 30 in CA is fading IMO. People are pushing back marriage, kids, and home buying in favor of a comfortable lifestyle. They know homes are too expensive, so why try. Then there’s the issue of financial responsiblity. Those in this grouup that went to school are most likely in debt, and most if not all owe big time on credit cards.

All the more reason I think despite the quick correction we’re seeing, it will still drag on for a while.

I think there aren’t as many sideline sitters as the RE industry thinks. The few there are more than likely got out early-bubble to wait. First time buyers are few, and probably mid-30 dual income couples. You simply can’t afford an average CA home on an average mid-30’s single income.

[cr]

I don’t think the majority of 20 somethings, even early 30-somethings have immediate plans to buy.

This demographic grew up with MTV, and will spend money on cars, clothes, and cell phones before saving for a down payment. Certainly not all, and probably none of us on these forums but I only know a small handful of people saving for a house.

It’s not necessarily that they don’t have the income, though many don’t, it’s more the mindset.

The idea of owning a home by the age of 30 in CA is fading IMO. People are pushing back marriage, kids, and home buying in favor of a comfortable lifestyle. They know homes are too expensive, so why try. Then there’s the issue of financial responsiblity. Those in this grouup that went to school are most likely in debt, and most if not all owe big time on credit cards.

All the more reason I think despite the quick correction we’re seeing, it will still drag on for a while.

I think there aren’t as many sideline sitters as the RE industry thinks. The few there are more than likely got out early-bubble to wait. First time buyers are few, and probably mid-30 dual income couples. You simply can’t afford an average CA home on an average mid-30’s single income.

[cr]

Rust – I was almost through the first page of responses before I realized this thread is 7 months old.

I’ve noticed the same thing though, and I think a big part of it is outside Rich’s updates there are more political hot-button discussions here than how to play your money in this market as Scoreboard and others said.

Maybe it’s because there’s no more debate that housing was inflated, it’s just a question of how far and how long, but even that varies from neighborhood.

As we wait this out though, and our savings gets eroded by rates to primarily help the irresponsible it would be nice to have some good input even just on how to beat inflation.

[cr]

Rust – I was almost through the first page of responses before I realized this thread is 7 months old.

I’ve noticed the same thing though, and I think a big part of it is outside Rich’s updates there are more political hot-button discussions here than how to play your money in this market as Scoreboard and others said.

Maybe it’s because there’s no more debate that housing was inflated, it’s just a question of how far and how long, but even that varies from neighborhood.

As we wait this out though, and our savings gets eroded by rates to primarily help the irresponsible it would be nice to have some good input even just on how to beat inflation.

[cr]

Rust – I was almost through the first page of responses before I realized this thread is 7 months old.

I’ve noticed the same thing though, and I think a big part of it is outside Rich’s updates there are more political hot-button discussions here than how to play your money in this market as Scoreboard and others said.

Maybe it’s because there’s no more debate that housing was inflated, it’s just a question of how far and how long, but even that varies from neighborhood.

As we wait this out though, and our savings gets eroded by rates to primarily help the irresponsible it would be nice to have some good input even just on how to beat inflation.

[cr]

Rust – I was almost through the first page of responses before I realized this thread is 7 months old.

I’ve noticed the same thing though, and I think a big part of it is outside Rich’s updates there are more political hot-button discussions here than how to play your money in this market as Scoreboard and others said.

Maybe it’s because there’s no more debate that housing was inflated, it’s just a question of how far and how long, but even that varies from neighborhood.

As we wait this out though, and our savings gets eroded by rates to primarily help the irresponsible it would be nice to have some good input even just on how to beat inflation.

[cr]

Rust – I was almost through the first page of responses before I realized this thread is 7 months old.

I’ve noticed the same thing though, and I think a big part of it is outside Rich’s updates there are more political hot-button discussions here than how to play your money in this market as Scoreboard and others said.

Maybe it’s because there’s no more debate that housing was inflated, it’s just a question of how far and how long, but even that varies from neighborhood.

As we wait this out though, and our savings gets eroded by rates to primarily help the irresponsible it would be nice to have some good input even just on how to beat inflation.

[Author]

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