[dontfollowtheherd]

TG,

Sound like buyer’s remorse hits you extra hard so what’s the rush? There will be many nicer homes to choose from at 15-20% lower than where we are today. I wasn’t that impressed with the houses you’re looking at aside from one. Some of them probably sold for 150-175k 6-7 years ago, so why should you pay 3 times that in a falling market? The Tisbury was by far the nicest even with the Bali/Indian palace look from the front. What are you gonna do w/7000sf anyhow? That pool/spa combo would come in handy for pool parties with the divorcees I guess. 🙂 Between the Mello-Roos (if any) and taxes you’re looking at a sizeable chunk of your nest egg getting eaten up in a market that is going to take years to recover from. If all the advice you’ve gotten from everyone so far doesn’t slow you down a bit then make sure to buy a pair of Teflon gloves…lol

[dontfollowtheherd]

TG,

Sound like buyer’s remorse hits you extra hard so what’s the rush? There will be many nicer homes to choose from at 15-20% lower than where we are today. I wasn’t that impressed with the houses you’re looking at aside from one. Some of them probably sold for 150-175k 6-7 years ago, so why should you pay 3 times that in a falling market? The Tisbury was by far the nicest even with the Bali/Indian palace look from the front. What are you gonna do w/7000sf anyhow? That pool/spa combo would come in handy for pool parties with the divorcees I guess. 🙂 Between the Mello-Roos (if any) and taxes you’re looking at a sizeable chunk of your nest egg getting eaten up in a market that is going to take years to recover from. If all the advice you’ve gotten from everyone so far doesn’t slow you down a bit then make sure to buy a pair of Teflon gloves…lol

[dontfollowtheherd]

TG,

Sound like buyer’s remorse hits you extra hard so what’s the rush? There will be many nicer homes to choose from at 15-20% lower than where we are today. I wasn’t that impressed with the houses you’re looking at aside from one. Some of them probably sold for 150-175k 6-7 years ago, so why should you pay 3 times that in a falling market? The Tisbury was by far the nicest even with the Bali/Indian palace look from the front. What are you gonna do w/7000sf anyhow? That pool/spa combo would come in handy for pool parties with the divorcees I guess. 🙂 Between the Mello-Roos (if any) and taxes you’re looking at a sizeable chunk of your nest egg getting eaten up in a market that is going to take years to recover from. If all the advice you’ve gotten from everyone so far doesn’t slow you down a bit then make sure to buy a pair of Teflon gloves…lol

[dontfollowtheherd]

TG,

Sound like buyer’s remorse hits you extra hard so what’s the rush? There will be many nicer homes to choose from at 15-20% lower than where we are today. I wasn’t that impressed with the houses you’re looking at aside from one. Some of them probably sold for 150-175k 6-7 years ago, so why should you pay 3 times that in a falling market? The Tisbury was by far the nicest even with the Bali/Indian palace look from the front. What are you gonna do w/7000sf anyhow? That pool/spa combo would come in handy for pool parties with the divorcees I guess. 🙂 Between the Mello-Roos (if any) and taxes you’re looking at a sizeable chunk of your nest egg getting eaten up in a market that is going to take years to recover from. If all the advice you’ve gotten from everyone so far doesn’t slow you down a bit then make sure to buy a pair of Teflon gloves…lol

[dontfollowtheherd]

There’s a ton of personal loss at stake not to mention the tax revenue losses for the states and feds. Think of all the aides that will have to be let go and the possibility of government cutbacks on congressional perks etc. These guys might have to answer their phones once in a while. They might even have to cut back on their lucrative retirement programs. Talk about tragedy! No wonder Schumer and other high level Pols are pushing for some sort of bailout. Too bad their buckets aren’t deep enough because this thing is taking on water faster than the Titanic. There’s no cure except to let it run its course. We don’t have the money in the first place and we’re too busy spending American dollars, stretching our armed forces and flexing our muscles elsewhere that we’ve pretty much lost all hope for cost-containment within our own borders.

[dontfollowtheherd]

There’s a ton of personal loss at stake not to mention the tax revenue losses for the states and feds. Think of all the aides that will have to be let go and the possibility of government cutbacks on congressional perks etc. These guys might have to answer their phones once in a while. They might even have to cut back on their lucrative retirement programs. Talk about tragedy! No wonder Schumer and other high level Pols are pushing for some sort of bailout. Too bad their buckets aren’t deep enough because this thing is taking on water faster than the Titanic. There’s no cure except to let it run its course. We don’t have the money in the first place and we’re too busy spending American dollars, stretching our armed forces and flexing our muscles elsewhere that we’ve pretty much lost all hope for cost-containment within our own borders.

[dontfollowtheherd]

There’s a ton of personal loss at stake not to mention the tax revenue losses for the states and feds. Think of all the aides that will have to be let go and the possibility of government cutbacks on congressional perks etc. These guys might have to answer their phones once in a while. They might even have to cut back on their lucrative retirement programs. Talk about tragedy! No wonder Schumer and other high level Pols are pushing for some sort of bailout. Too bad their buckets aren’t deep enough because this thing is taking on water faster than the Titanic. There’s no cure except to let it run its course. We don’t have the money in the first place and we’re too busy spending American dollars, stretching our armed forces and flexing our muscles elsewhere that we’ve pretty much lost all hope for cost-containment within our own borders.

[dontfollowtheherd]

ROTFLMAO

OC Scam,

This is just what I needed! Between this one and the cutting off your ARM I’ll go to sleep with a smile on my face. The rest of the posts were altogether curious, ridiculous, insightful, educational and entertaining but your’s takes the cake. Thanks for the laughs.

[dontfollowtheherd]

ROTFLMAO

OC Scam,

This is just what I needed! Between this one and the cutting off your ARM I’ll go to sleep with a smile on my face. The rest of the posts were altogether curious, ridiculous, insightful, educational and entertaining but your’s takes the cake. Thanks for the laughs.

[dontfollowtheherd]

ROTFLMAO

OC Scam,

This is just what I needed! Between this one and the cutting off your ARM I’ll go to sleep with a smile on my face. The rest of the posts were altogether curious, ridiculous, insightful, educational and entertaining but your’s takes the cake. Thanks for the laughs.

[dontfollowtheherd]

coop, Here's one from today's NY Times – at least its today's here in NY for another 10 minutes. lol. Lots of properties for sale everywhere in the East. Did a fall color trip w/ the wife and saw thousands of for sale signs everywhere and most with reduced banners. Did 5 states and Canada fwiw.

The truest part of this article 3/4 of the way down was this comment imo:

 

“I don’t really see that this is going to make a significant difference,” said Jan Hatzius, chief United States economist at Goldman Sachs. “It seems a little more like a P.R. move, frankly.” Mr. Hatzius said he wondered “why this is going on when previously the official word was that things were getting better.”

I've seen thousands of homes in Las Vegas, Phoenix and a few other states and cities where they are just sitting there. Hopefully no one is foolish enough to let these guys out of their SIV's. It's going to be a looooong time before we see any sense of normalcy in the r.e. market.

 

[dontfollowtheherd]

coop, Here's one from today's NY Times – at least its today's here in NY for another 10 minutes. lol. Lots of properties for sale everywhere in the East. Did a fall color trip w/ the wife and saw thousands of for sale signs everywhere and most with reduced banners. Did 5 states and Canada fwiw.

The truest part of this article 3/4 of the way down was this comment imo:

 

“I don’t really see that this is going to make a significant difference,” said Jan Hatzius, chief United States economist at Goldman Sachs. “It seems a little more like a P.R. move, frankly.” Mr. Hatzius said he wondered “why this is going on when previously the official word was that things were getting better.”

I've seen thousands of homes in Las Vegas, Phoenix and a few other states and cities where they are just sitting there. Hopefully no one is foolish enough to let these guys out of their SIV's. It's going to be a looooong time before we see any sense of normalcy in the r.e. market.

 

[dontfollowtheherd]

He lowered the fund rates for the banks to lend at ridiculously low rates and kept them there for a long time because everything else had come to a standstill as far as growth of the economy is concerned. Once the spigot was opened greed in all forms took over. Let’s face it, the country was headed for a recession and for 5 years the inflated real estate market was the only thing keeping it afloat. Once sanity was restored and we got back to normal income to home mortgage valuation rates the fit has hit the shan. The real heroic job will go to Bernanke if he can extricate the U.S. from the mess that Al and his buds got us into.

[dontfollowtheherd]

You make some valid points in #’s 1 & 2. As to #’3 & 4 he made it an awful lot easier for the speculators and irresponsible borrowers to get the credit they never would have had access to in the first place imo. And to say “they” (notice not HE) didn’t know how bad it was is total b.s. They/he knew damn well from the reams of data streaming in and news reports of unverified income / savings going on during this time. They have access to all the reports in order to make their monetary decisions and there was probably a lot of water cooler talk going on in the Fed building as well. Some of these guys quite possibly made money flipping a house or two here and there and that word gets around quick. You’d have had to been on Mars not to pick up on what was going on.

[dontfollowtheherd]

I read an article from Richard Russell a week ago and he was saying how long these guys last is based on the amount of political pressure they bend to despite the Federal Banks supposed independence. Paul Volcker was the only one in years who would stand up to either party.

How about this one from EWI on 9/17:

Suddenly, Greenspan is Crystal Clear

The media followed Alan Greenspan’s utterances and prose with great interest for two decades, but only very recently did his words become simple or clear. The media dissected his serpentine locutions and his “mumbling with great incoherence,” like the cryptic prophecies of some mythological seer. But, now that it’s book-selling time, suddenly you can understand what he is saying. The question is, does he fully understand what he’s talking about?

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