[cr]

LA resident here, and agree on the last two points.

I’ve been watching Ziprealty inventories for months now and I’ve recently seen a significant increase in high end listings.

I mentioned this elsewhere; I’d argue that particularly in LA most of the high end drop-off is due more to tightened lending than it is to resetting loans, recast payments, or job losses.

Sub-prime was a disaster that set in motion a return to what lending standards should be. Once the fallout of bad “prime”, alt-a, ninja, I/O, option ARMs starts hitting the high-end will suffer just as much.

Don’t forget “high-end” was middle class families who moved up the housing chain just like sub-prime borrowers.

[cr]

LA resident here, and agree on the last two points.

I’ve been watching Ziprealty inventories for months now and I’ve recently seen a significant increase in high end listings.

I mentioned this elsewhere; I’d argue that particularly in LA most of the high end drop-off is due more to tightened lending than it is to resetting loans, recast payments, or job losses.

Sub-prime was a disaster that set in motion a return to what lending standards should be. Once the fallout of bad “prime”, alt-a, ninja, I/O, option ARMs starts hitting the high-end will suffer just as much.

Don’t forget “high-end” was middle class families who moved up the housing chain just like sub-prime borrowers.

[cr]

LA resident here, and agree on the last two points.

I’ve been watching Ziprealty inventories for months now and I’ve recently seen a significant increase in high end listings.

I mentioned this elsewhere; I’d argue that particularly in LA most of the high end drop-off is due more to tightened lending than it is to resetting loans, recast payments, or job losses.

Sub-prime was a disaster that set in motion a return to what lending standards should be. Once the fallout of bad “prime”, alt-a, ninja, I/O, option ARMs starts hitting the high-end will suffer just as much.

Don’t forget “high-end” was middle class families who moved up the housing chain just like sub-prime borrowers.

[cr]

LA resident here, and agree on the last two points.

I’ve been watching Ziprealty inventories for months now and I’ve recently seen a significant increase in high end listings.

I mentioned this elsewhere; I’d argue that particularly in LA most of the high end drop-off is due more to tightened lending than it is to resetting loans, recast payments, or job losses.

Sub-prime was a disaster that set in motion a return to what lending standards should be. Once the fallout of bad “prime”, alt-a, ninja, I/O, option ARMs starts hitting the high-end will suffer just as much.

Don’t forget “high-end” was middle class families who moved up the housing chain just like sub-prime borrowers.

[cr]

LA resident here, and agree on the last two points.

I’ve been watching Ziprealty inventories for months now and I’ve recently seen a significant increase in high end listings.

I mentioned this elsewhere; I’d argue that particularly in LA most of the high end drop-off is due more to tightened lending than it is to resetting loans, recast payments, or job losses.

Sub-prime was a disaster that set in motion a return to what lending standards should be. Once the fallout of bad “prime”, alt-a, ninja, I/O, option ARMs starts hitting the high-end will suffer just as much.

Don’t forget “high-end” was middle class families who moved up the housing chain just like sub-prime borrowers.

[cr]

Just wait another year or two guys. This won’t turn housing around, we know that. But look at the trend: 2008 – $7500 loan, 2009 – $15,000 tax credit, what’s next?

I’m holding out until 2011 for a $60,000 direct account transfer after the 2010 $30,000 Gov’t subsidized down payment fails to turn housing around too.

$15,000 is a joke in CA. It’s not even enough for a 5% down payment, and when prices fall another 25% you’ll be underwater anyway. Unless you put 30% or more down in which case you might be even. If prices stop falling.

Right now, there’s no sign of that.

[cr]

Just wait another year or two guys. This won’t turn housing around, we know that. But look at the trend: 2008 – $7500 loan, 2009 – $15,000 tax credit, what’s next?

I’m holding out until 2011 for a $60,000 direct account transfer after the 2010 $30,000 Gov’t subsidized down payment fails to turn housing around too.

$15,000 is a joke in CA. It’s not even enough for a 5% down payment, and when prices fall another 25% you’ll be underwater anyway. Unless you put 30% or more down in which case you might be even. If prices stop falling.

Right now, there’s no sign of that.

[cr]

Just wait another year or two guys. This won’t turn housing around, we know that. But look at the trend: 2008 – $7500 loan, 2009 – $15,000 tax credit, what’s next?

I’m holding out until 2011 for a $60,000 direct account transfer after the 2010 $30,000 Gov’t subsidized down payment fails to turn housing around too.

$15,000 is a joke in CA. It’s not even enough for a 5% down payment, and when prices fall another 25% you’ll be underwater anyway. Unless you put 30% or more down in which case you might be even. If prices stop falling.

Right now, there’s no sign of that.

[cr]

Just wait another year or two guys. This won’t turn housing around, we know that. But look at the trend: 2008 – $7500 loan, 2009 – $15,000 tax credit, what’s next?

I’m holding out until 2011 for a $60,000 direct account transfer after the 2010 $30,000 Gov’t subsidized down payment fails to turn housing around too.

$15,000 is a joke in CA. It’s not even enough for a 5% down payment, and when prices fall another 25% you’ll be underwater anyway. Unless you put 30% or more down in which case you might be even. If prices stop falling.

Right now, there’s no sign of that.

[cr]

Just wait another year or two guys. This won’t turn housing around, we know that. But look at the trend: 2008 – $7500 loan, 2009 – $15,000 tax credit, what’s next?

I’m holding out until 2011 for a $60,000 direct account transfer after the 2010 $30,000 Gov’t subsidized down payment fails to turn housing around too.

$15,000 is a joke in CA. It’s not even enough for a 5% down payment, and when prices fall another 25% you’ll be underwater anyway. Unless you put 30% or more down in which case you might be even. If prices stop falling.

Right now, there’s no sign of that.

[cr]

[quote=afx114][quote=cooprider]Fair enough, but name one thing Obama ran at all.[/quote]

A campaign that blew everyone else out of the water, including the all-but-crowned first female president in US history.
[/quote]

I knew that would be your replly, but he didn’t run it, David Axelrod did.

[quote=Dukehorn]blah blah blah[/quote]
Not sure what point you were making, but would you rather have Chesley Sullenberger at the help of your next commercial flight or Tom Cruise? Cruise has a nice smile too, you know.

The sooner you realize Obama is a tool in the hands of the elite and his promises of hope and change are a lie, the sooner you’ll be able to get on with your life and stop putting your faith in another crony politician.

Obama doesn’t like you anymore than Bush did, the difference is you’ve been fooled into thinking he does. Wake up and look at what he’s done so far. Look at the stimulus.

[cr]

[quote=afx114][quote=cooprider]Fair enough, but name one thing Obama ran at all.[/quote]

A campaign that blew everyone else out of the water, including the all-but-crowned first female president in US history.
[/quote]

I knew that would be your replly, but he didn’t run it, David Axelrod did.

[quote=Dukehorn]blah blah blah[/quote]
Not sure what point you were making, but would you rather have Chesley Sullenberger at the help of your next commercial flight or Tom Cruise? Cruise has a nice smile too, you know.

The sooner you realize Obama is a tool in the hands of the elite and his promises of hope and change are a lie, the sooner you’ll be able to get on with your life and stop putting your faith in another crony politician.

Obama doesn’t like you anymore than Bush did, the difference is you’ve been fooled into thinking he does. Wake up and look at what he’s done so far. Look at the stimulus.

[cr]

[quote=afx114][quote=cooprider]Fair enough, but name one thing Obama ran at all.[/quote]

A campaign that blew everyone else out of the water, including the all-but-crowned first female president in US history.
[/quote]

I knew that would be your replly, but he didn’t run it, David Axelrod did.

[quote=Dukehorn]blah blah blah[/quote]
Not sure what point you were making, but would you rather have Chesley Sullenberger at the help of your next commercial flight or Tom Cruise? Cruise has a nice smile too, you know.

The sooner you realize Obama is a tool in the hands of the elite and his promises of hope and change are a lie, the sooner you’ll be able to get on with your life and stop putting your faith in another crony politician.

Obama doesn’t like you anymore than Bush did, the difference is you’ve been fooled into thinking he does. Wake up and look at what he’s done so far. Look at the stimulus.

[cr]

[quote=afx114][quote=cooprider]Fair enough, but name one thing Obama ran at all.[/quote]

A campaign that blew everyone else out of the water, including the all-but-crowned first female president in US history.
[/quote]

I knew that would be your replly, but he didn’t run it, David Axelrod did.

[quote=Dukehorn]blah blah blah[/quote]
Not sure what point you were making, but would you rather have Chesley Sullenberger at the help of your next commercial flight or Tom Cruise? Cruise has a nice smile too, you know.

The sooner you realize Obama is a tool in the hands of the elite and his promises of hope and change are a lie, the sooner you’ll be able to get on with your life and stop putting your faith in another crony politician.

Obama doesn’t like you anymore than Bush did, the difference is you’ve been fooled into thinking he does. Wake up and look at what he’s done so far. Look at the stimulus.

[cr]

[quote=afx114][quote=cooprider]Fair enough, but name one thing Obama ran at all.[/quote]

A campaign that blew everyone else out of the water, including the all-but-crowned first female president in US history.
[/quote]

I knew that would be your replly, but he didn’t run it, David Axelrod did.

[quote=Dukehorn]blah blah blah[/quote]
Not sure what point you were making, but would you rather have Chesley Sullenberger at the help of your next commercial flight or Tom Cruise? Cruise has a nice smile too, you know.

The sooner you realize Obama is a tool in the hands of the elite and his promises of hope and change are a lie, the sooner you’ll be able to get on with your life and stop putting your faith in another crony politician.

Obama doesn’t like you anymore than Bush did, the difference is you’ve been fooled into thinking he does. Wake up and look at what he’s done so far. Look at the stimulus.

[Author]

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