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Diego Mamani
Participant[quote=IONEGARM]… FHA is understaffed and now represents a huge chunk of the market.
[/quote]My point exactly. That a big chunk of the “market” has nothing to do with market and everything to do with populist politics! Can’t anybody in govt (Larry Summers, Tim G., Paul Volcker, etc.) tell Obama that delaying the inevitable will only prolong the pain?
We need prices to come down to reality before a real recovery can start. Artificially keeping prices inflated will only create a temporary relief but we’ll have to pay for it later.
Participant[quote=IONEGARM]… FHA is understaffed and now represents a huge chunk of the market.
[/quote]My point exactly. That a big chunk of the “market” has nothing to do with market and everything to do with populist politics! Can’t anybody in govt (Larry Summers, Tim G., Paul Volcker, etc.) tell Obama that delaying the inevitable will only prolong the pain?
We need prices to come down to reality before a real recovery can start. Artificially keeping prices inflated will only create a temporary relief but we’ll have to pay for it later.
Participant[quote=IONEGARM]… FHA is understaffed and now represents a huge chunk of the market.
[/quote]My point exactly. That a big chunk of the “market” has nothing to do with market and everything to do with populist politics! Can’t anybody in govt (Larry Summers, Tim G., Paul Volcker, etc.) tell Obama that delaying the inevitable will only prolong the pain?
We need prices to come down to reality before a real recovery can start. Artificially keeping prices inflated will only create a temporary relief but we’ll have to pay for it later.
Participant[quote=IONEGARM]… FHA is understaffed and now represents a huge chunk of the market.
[/quote]My point exactly. That a big chunk of the “market” has nothing to do with market and everything to do with populist politics! Can’t anybody in govt (Larry Summers, Tim G., Paul Volcker, etc.) tell Obama that delaying the inevitable will only prolong the pain?
We need prices to come down to reality before a real recovery can start. Artificially keeping prices inflated will only create a temporary relief but we’ll have to pay for it later.
ParticipantTwo years is way too short. Even though I don’t have a crystal ball, the price is far more likely to go down than up in that short period. Unless of course inflation picks up, in which case owning any property is far better than hoarding cash.
As others have said, buy only if you like the place enough to stay put and enjoy it for at least 5-7 years.
ParticipantTwo years is way too short. Even though I don’t have a crystal ball, the price is far more likely to go down than up in that short period. Unless of course inflation picks up, in which case owning any property is far better than hoarding cash.
As others have said, buy only if you like the place enough to stay put and enjoy it for at least 5-7 years.
ParticipantTwo years is way too short. Even though I don’t have a crystal ball, the price is far more likely to go down than up in that short period. Unless of course inflation picks up, in which case owning any property is far better than hoarding cash.
As others have said, buy only if you like the place enough to stay put and enjoy it for at least 5-7 years.
ParticipantTwo years is way too short. Even though I don’t have a crystal ball, the price is far more likely to go down than up in that short period. Unless of course inflation picks up, in which case owning any property is far better than hoarding cash.
As others have said, buy only if you like the place enough to stay put and enjoy it for at least 5-7 years.
ParticipantTwo years is way too short. Even though I don’t have a crystal ball, the price is far more likely to go down than up in that short period. Unless of course inflation picks up, in which case owning any property is far better than hoarding cash.
As others have said, buy only if you like the place enough to stay put and enjoy it for at least 5-7 years.
ParticipantMaybe they’re not legally married?
sdr, what do you think of FHA loans in general? I know in the Inland Empire often the seller gives the 3% to buyers as a gift. This down payment, all closing costs, etc., are paid by the seller but added to the purchase price. The result is: the buyers have negative equity from day one.
These FHA-guaranteed loans are a huge risk for the taxpayer, who ultimately pays the bills. And these underwater FBs are very likely to default, so these properties will be back as REOs or short sales, further reducing prices. A vicious circle, encouraged and paid for by Uncle Sam. With my tax dollars!
Diego “Threadkiller” Mamani
ParticipantMaybe they’re not legally married?
sdr, what do you think of FHA loans in general? I know in the Inland Empire often the seller gives the 3% to buyers as a gift. This down payment, all closing costs, etc., are paid by the seller but added to the purchase price. The result is: the buyers have negative equity from day one.
These FHA-guaranteed loans are a huge risk for the taxpayer, who ultimately pays the bills. And these underwater FBs are very likely to default, so these properties will be back as REOs or short sales, further reducing prices. A vicious circle, encouraged and paid for by Uncle Sam. With my tax dollars!
Diego “Threadkiller” Mamani
ParticipantMaybe they’re not legally married?
sdr, what do you think of FHA loans in general? I know in the Inland Empire often the seller gives the 3% to buyers as a gift. This down payment, all closing costs, etc., are paid by the seller but added to the purchase price. The result is: the buyers have negative equity from day one.
These FHA-guaranteed loans are a huge risk for the taxpayer, who ultimately pays the bills. And these underwater FBs are very likely to default, so these properties will be back as REOs or short sales, further reducing prices. A vicious circle, encouraged and paid for by Uncle Sam. With my tax dollars!
Diego “Threadkiller” Mamani
ParticipantMaybe they’re not legally married?
sdr, what do you think of FHA loans in general? I know in the Inland Empire often the seller gives the 3% to buyers as a gift. This down payment, all closing costs, etc., are paid by the seller but added to the purchase price. The result is: the buyers have negative equity from day one.
These FHA-guaranteed loans are a huge risk for the taxpayer, who ultimately pays the bills. And these underwater FBs are very likely to default, so these properties will be back as REOs or short sales, further reducing prices. A vicious circle, encouraged and paid for by Uncle Sam. With my tax dollars!
Diego “Threadkiller” Mamani
ParticipantMaybe they’re not legally married?
sdr, what do you think of FHA loans in general? I know in the Inland Empire often the seller gives the 3% to buyers as a gift. This down payment, all closing costs, etc., are paid by the seller but added to the purchase price. The result is: the buyers have negative equity from day one.
These FHA-guaranteed loans are a huge risk for the taxpayer, who ultimately pays the bills. And these underwater FBs are very likely to default, so these properties will be back as REOs or short sales, further reducing prices. A vicious circle, encouraged and paid for by Uncle Sam. With my tax dollars!
Diego “Threadkiller” Mamani
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