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cyphire
ParticipantI will endeavor not to poke fun at JG’s beliefs as well. Everyone is entitled to their own opinion until it is in danger of becoming social policy or the law of the land.
And I am also glad you can’t put down the blogging… It is a less expensive vice than playing poker
ParticipantI will endeavor not to poke fun at JG’s beliefs as well. Everyone is entitled to their own opinion until it is in danger of becoming social policy or the law of the land.
And I am also glad you can’t put down the blogging… It is a less expensive vice than playing poker
ParticipantSure…. The Moonies could be sent up to the Moon which could be like a prison. We could call the entity “The Authority”. They could mine ice – and then use hydroponics to create food which they could catapult back to earth the feed the masses (the people that didn’t default on their loans!).
ParticipantSure…. The Moonies could be sent up to the Moon which could be like a prison. We could call the entity “The Authority”. They could mine ice – and then use hydroponics to create food which they could catapult back to earth the feed the masses (the people that didn’t default on their loans!).
ParticipantPatientRenter – do you really think that there will be any significant relief for the homeowners? The profits were taken out by the mortgage brokers, the Realtors, etc. The banks are somewhat holding the bag (except isn’t most of the exposure in the hedge funds?).
I’m no expert but it seems that with the new paradigm (and I use the word paradigm incorrectly, but its a cool word) of making the sale, selling the loan, then repackaging the loan into a financial product, then resell it in the secondary and tertiary markets – that the owner of the mortgage doesn’t have any recourse other than forgiveness.
I’m pretty sure that with a softening economy (for everyone who actually does the work) that these folks wouldn’t keep the houses even if the rates went up to non-subprime numbers.
What entity will bail out the homeowners who took loans that they couldn’t and shouldn’t of taken in the first place? Don’t get me wrong – I am very pained at their plight. Even in a non-bait and switch situation (the norm, not the rarity) these are not financially sophisticated people.
So who gets screwed at the end?
ParticipantPatientRenter – do you really think that there will be any significant relief for the homeowners? The profits were taken out by the mortgage brokers, the Realtors, etc. The banks are somewhat holding the bag (except isn’t most of the exposure in the hedge funds?).
I’m no expert but it seems that with the new paradigm (and I use the word paradigm incorrectly, but its a cool word) of making the sale, selling the loan, then repackaging the loan into a financial product, then resell it in the secondary and tertiary markets – that the owner of the mortgage doesn’t have any recourse other than forgiveness.
I’m pretty sure that with a softening economy (for everyone who actually does the work) that these folks wouldn’t keep the houses even if the rates went up to non-subprime numbers.
What entity will bail out the homeowners who took loans that they couldn’t and shouldn’t of taken in the first place? Don’t get me wrong – I am very pained at their plight. Even in a non-bait and switch situation (the norm, not the rarity) these are not financially sophisticated people.
So who gets screwed at the end?
ParticipantAwesome post PatientRenter…. Please forgive my rant. Also, please to my opposite number in La Jolla – please ignore that post. I don’t drink very often and one bottle of sake seems to have done the damage. I shouldn’t ‘drunken post’! The alcohol has left my system and I stand, ashamed and abased…
I will promise to be more on topic.
I will promise not to rant – it’s hard to be taken seriously when you are yelling at someone. I will try to use gentle persuasion to promote my views – perhaps with tolerance we can start promoting a less greedy, less unfair society.
Respectfully,
Cyphire.
p.s. to Rustico – I’m glad that your house isn’t built like crap…. Sign me up for that option!
ParticipantAwesome post PatientRenter…. Please forgive my rant. Also, please to my opposite number in La Jolla – please ignore that post. I don’t drink very often and one bottle of sake seems to have done the damage. I shouldn’t ‘drunken post’! The alcohol has left my system and I stand, ashamed and abased…
I will promise to be more on topic.
I will promise not to rant – it’s hard to be taken seriously when you are yelling at someone. I will try to use gentle persuasion to promote my views – perhaps with tolerance we can start promoting a less greedy, less unfair society.
Respectfully,
Cyphire.
p.s. to Rustico – I’m glad that your house isn’t built like crap…. Sign me up for that option!
ParticipantHey jg…
I am going to make your day…. I had a couple of drinks with dinner… SO…. HERE COMES THE RANT!:
Stand behind the president… Republican’s want fair taxes. The poor suck. Pray in school. Darwin was a liar. USA is the best! We have the finest health care – the fairest society… USA number 1!!!
If you don’t let George Bush piss on the constitution the terrorists win! Oh- and if you don’t torture anyone you catch guilty or innocent the terrorists also win!
et cetera ad nauseum.
Lol….
Sometimes you have to jump off your parochial prejudices and try to look at the real world as it actually exists.
If I am incorrect about wages in the UK or quality of life issues then I stand corrected. I might have gotten it wrong – I am not wedded to it. I pulled statistics from the UK and US census and statistical sites – but was hard to try tie the data together. Ever try to pull general data from Google?!
I am not recalcitrant, just think that the US has rewarded the greedy financial people in our society at the expense of most of it’s citizens. And inheritance taxes wiping out old English estates is poetic justice. Most of that money was stolen from the peasants anyway. The sad thing is that the people in our society who want lower taxes are in essence stealing it from the other 80%.
I think that most American’s are so apathetic about politics that they vote from fear or don’t vote at all. A small percentage of people (Fearmongering Religious Republicans – FRR’s) have done a great job of feathering their nests – at the expense of the people in our society doing the mind-numbing work. Maybe when the gap between rich and poor increases to an even larger number there will be some blood in the streets. Until then – keep drinking the Kool-aid.
ParticipantHey jg…
I am going to make your day…. I had a couple of drinks with dinner… SO…. HERE COMES THE RANT!:
Stand behind the president… Republican’s want fair taxes. The poor suck. Pray in school. Darwin was a liar. USA is the best! We have the finest health care – the fairest society… USA number 1!!!
If you don’t let George Bush piss on the constitution the terrorists win! Oh- and if you don’t torture anyone you catch guilty or innocent the terrorists also win!
et cetera ad nauseum.
Lol….
Sometimes you have to jump off your parochial prejudices and try to look at the real world as it actually exists.
If I am incorrect about wages in the UK or quality of life issues then I stand corrected. I might have gotten it wrong – I am not wedded to it. I pulled statistics from the UK and US census and statistical sites – but was hard to try tie the data together. Ever try to pull general data from Google?!
I am not recalcitrant, just think that the US has rewarded the greedy financial people in our society at the expense of most of it’s citizens. And inheritance taxes wiping out old English estates is poetic justice. Most of that money was stolen from the peasants anyway. The sad thing is that the people in our society who want lower taxes are in essence stealing it from the other 80%.
I think that most American’s are so apathetic about politics that they vote from fear or don’t vote at all. A small percentage of people (Fearmongering Religious Republicans – FRR’s) have done a great job of feathering their nests – at the expense of the people in our society doing the mind-numbing work. Maybe when the gap between rich and poor increases to an even larger number there will be some blood in the streets. Until then – keep drinking the Kool-aid.
ParticipantGood point gracie – I think that’s where its headed (Orange County South)… Maybe there will be a show someday – “the real housewives of Carmel Valley”!!! My sister lives in the OC and it’s pretty dense. (literally and figuratively!)
ParticipantGood point gracie – I think that’s where its headed (Orange County South)… Maybe there will be a show someday – “the real housewives of Carmel Valley”!!! My sister lives in the OC and it’s pretty dense. (literally and figuratively!)
ParticipantWait it out!
Why anyone would buy a brutally overpriced house 7 feet on either side from 2 other homes – all held together with stucco and wire is beyond me. We lived in a nice neighborhood in CV for 5 years and I couldn’t wait to leave.
It’s a great community if you want to have friends for you kids to play with, but you don’t need that for at least 12 years from now.
The houses are slapped together and because of that they age / mildew rapidly! All for a cool 1.5 million. There is no reason to expect CV to drop in price now. It will lag the rest of the market. Hey, we have only been in a decline for a year and not everyone understands the real estate market. The realtors (by and large) will keep the disinformation flowing – only the suckers are buying now.
Watch prices a year from now, or 2. Or buy now and watch your price diminish!
Just my opinion – there is little underlying value there.
p.s. The best private schools in San Diego are 14K / year for elementary school kids. Stay out of CV and spend the money on private school when you are ready. A 1.4 million dollar house dropping by 10% is roughly 2 kids in private school from 1st to 6th grade. (And getting a much better education.)
ParticipantWait it out!
Why anyone would buy a brutally overpriced house 7 feet on either side from 2 other homes – all held together with stucco and wire is beyond me. We lived in a nice neighborhood in CV for 5 years and I couldn’t wait to leave.
It’s a great community if you want to have friends for you kids to play with, but you don’t need that for at least 12 years from now.
The houses are slapped together and because of that they age / mildew rapidly! All for a cool 1.5 million. There is no reason to expect CV to drop in price now. It will lag the rest of the market. Hey, we have only been in a decline for a year and not everyone understands the real estate market. The realtors (by and large) will keep the disinformation flowing – only the suckers are buying now.
Watch prices a year from now, or 2. Or buy now and watch your price diminish!
Just my opinion – there is little underlying value there.
p.s. The best private schools in San Diego are 14K / year for elementary school kids. Stay out of CV and spend the money on private school when you are ready. A 1.4 million dollar house dropping by 10% is roughly 2 kids in private school from 1st to 6th grade. (And getting a much better education.)
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