[cr]

Guys you’re forgetting all the immigrants that will come in and buy $500,000 homes, and the increase in employment of nurses, teachers, bar tenders, and hotel maids that will clearly support this market to a turn around sometime early 2008.

Seriously though, I’m betting 4-5 conservatively, 7-10 non-best case scenario.

The buyer/owner sentiment will follow prices and perpetuate the correction. I honestly think we will see an over correction. Why? (asks the person who thinks people here pull opinions out of their arse) Look at the last 2 down turns, and adjust for inflation.

Still disagree? Then go buy a house today, and I’ll buy one in 4 years and we’ll see who pays more.

[cr]

Just click on the post link like you normally do but then hit end on your keyboard. It will take you to the bottom of the page, then click “last »”.

1 2 3 next › last »

[cr]

Just click on the post link like you normally do but then hit end on your keyboard. It will take you to the bottom of the page, then click “last »”.

1 2 3 next › last »

[cr]

Guitar I’m surprised to hear anyone would still fund NINJA loans, even with 5-10%.

I talked to a guy who works at IndyMAC and he said they are requiring 700+ FICO for subprime.

A former broker in SD said 5% down required, and stated income loans will go away.

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Guitar I’m surprised to hear anyone would still fund NINJA loans, even with 5-10%.

I talked to a guy who works at IndyMAC and he said they are requiring 700+ FICO for subprime.

A former broker in SD said 5% down required, and stated income loans will go away.

[cr]

I agree bubblesitter, and same thing on paying off the credit card each month. I’m sure you’ve heard, they call people like us deadbeats.

Financially responisble and you’re a deadbeat paying higher taxes so nit-wits who will do anything but take responsibility for their own actions can continue to point the finger at others for their poor choices.

[cr]

I saw a news article on a shooting reported in Murrieta the other day. My honest first instinct was to wonder if it is related to tat housing scam blow up or some similar housing mess.

[cr]

Other possible revised HGTV/TLC titles in the works:

“Trading Mortgages”
“Bail Me Out”
“Foreclose that House”
“What’s with that REO”
“Buy Me for more than I’m Worth”
“The Overpricing Pros”
“Priced to Never Sell”
“My House is Worth Less than I Payed?”

Some of the ones at HGTV don’t need a new title:

“Look What I Did!”
“If Walls COuld Talk”
“My House is Worth What?”
“Over Your Head”

http://www.hgtv.com/hgtv/shows/0,1804,HGTV_3810,00.html

[cr]

I’m totally in favor of the stock market going up, but I’m leary because I think so much of the market is driven higher by debt and speculation, not real company performance, and consumer spending power.

Any day that moves over 100 I expect to be followed somewhat closely by a significant drop until this mortgage mess plays out.

I’m only recently at a point of considering investing in some MFs or ETFs. Since savings rates are so low I’m reaserching funds that might weather this storm better than cash.

[cr]

I don’t think he’ll be back.

[cr]

Up close to 100 today on the jobs report. More teachers, bar tenders, servers, nurses, and hotel maids, means more people who can afford over-priced houses, $3+ gasoline, and higher food costs than ever apparently.

As a result the financials climb? I’d feel much better if these were higher paying white collar jobs. The death of this bull market gets uglier everyday it doesn’t happen.

[cr]

THE END IS NEAR!!! REPENT REPENT!!

I don’t find any religious undertones in here, but I do think it is doomsdayish. I expect the US to go through a financial revolution within the next few decades near future, but not because foreign countries no longer see value in the dollar.

It will be because the gap between the rich and poor reaches a tipping point.

[cr]

If they give tax benefits of any form to people facing foreclosure, then I want a tax break on money I am trying to save to buy a home I actually CAN afford.

Free market capitalism my ass.

[cr]

There was an article in the LA times on this too.

The funny thing is this will only cause a more severe correction. This is all aimed at making mortgages transactions more regulated moving forward. It will do nothing for the damage that’s already been done.

In fact it will make things worse because it will make it that harder to move the inventory piling up.

[cr]

Apparently Wall Street isn’t too concerned as currently the DOW is relatively flat.

We know more is to come though as builders are squeezed. Here’s a decent read.

I think this 4th quarter retail performance will be indicative of where things are really at, and how hurt the consumer is as a result of the mortgage crisis, at least for those who have had their ARM adjust. For those that are part of the more than $1,000,000,000,000 in loans resetting in the next year or so, stay tuned for next Christmas.

The more relevant info on jobs is where those jobs are, i.e. how much they pay. What real good is it if jobs rise by 500,000 if they are all seasonal hires at Wal-mart?

[Author]

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