[equalizer]

first post is from Aug 30, 2006 WSJ article. probably market top.

this website has detailed info on calgary market. scattered softening prices
<http://calgary-housing.blogspot.com/&gt;

“Thankfully, in a changing RE market, there is lots of funny listings on the MLS which would have been unheard of 6 months ago.

The market remains quite strong. Over 2000 sold. Average price highest ever. Inventories continued to increase, although at a slower pace than previous months. This is probably due to seasonal factors as listings tend to decline after the summer and drop until after Christmas While average prices remained elevated, readers began to see isolated instances of falling prices in certain areas / condos. Day's inventory has reached the average level of 1999 after a year of extremely low inventory levels.”

[equalizer]

Zeropointzero is that your mortgage rate? 🙂

I agree that  banks would just defer or reduce payments for 6-12 months before taking any other drastic actions.  

[equalizer]

IRS quotes in this article

<http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2005/06/05/BUGG5D3FNS1.DTL&gt;

non-recourse loans. You will have a capital loss of $60,000 ($540,000 in debt minus your cost basis of $600,000.) You won't owe tax, but you won't get a deduction if this is your primary residence. The biggest hit will be to your credit rating. In most instances, if you refinance your house, the new loan is a recourse loan, says Michael Pfeifer, a real estate attorney with Pfeifer & Reynolds. However, Roger Bernhardt, a professor at Golden Gate University School of Law, says there is no California case law that definitively establishes this as fact.

recourse loans Cancellation of debt is not taxed if the loan forgiveness was intended as a gift (not likely unless the lender was a close relative), if the borrower is bankrupt or insolvent and in certain other cases.

Pretend you bought a house for $100,000. Its value goes up to $280,000. You refinance your original mortgage with a new one for $250,000. The value goes down to $200,000, you default and the bank forecloses. This will probably be treated as a recourse loan because it was not acquired to buy the house. Assuming you still owe $250,000, you will have $50,000 in cancellation of debt income and a capital gain of $100,000 ($250,000 market value minus $100, 000 cost basis.) Once again, the capital gain won't be taxed because it falls within the exclusion for primary residences.

[equalizer]

Here are two articles from marketwatch.com

estate tax change likely.

 

<

What to expect if the Democrats win>

http://biz.yahoo.com/weekend/elex_1.htm

[equalizer]

as jg stated, list potential conflict of interest and you’re done. No need to provoke, save that for morons below.

Here’s a REAL outrageous conflict of interest story:
In Jan 2000, Bob Brinker (investment newletter bobbrinker.com, syndicated on ABC radio) told his radio audience to sell all stocks funds including IRAs, 401K and get into Ginnie Mae funds. [Mar 20003, he went 100% back into stocks and still 100% since then] He stated that your mutual fund manager is not going to tell you to get out of his fund, he gets paid to manage money. Fund managers retorted that they are paid to invest in stocks and not take a large cash position. At least Vanguard sent out letters warning of the danger in valuation. The fund managers job should be to make you money, not just take your money. Marty Whitman (TAVFX) had an excellent article circa 1999 about how 20% annual return is the best you can aim for. But then he’s a legend (16.68% AAR vs 10%(?) for SP500 for 16 year period with much less risk) and has class like Bob.

[equalizer]

Mexico resident

Please elaborate on your comment about appreciate a latin country. Family bonding is better, thats right. But did you mean courtesy, respect is better between people? Some people here are very opinionated and dont have any grace, but are probably decent people in person.

[equalizer]

For those who missed my post on another thread I'll repeat it here for context. If I dont villify these guys, I'm out. Villify and hate or get out of Rep party, Follow the rulebook: Never accept responsiblity, never admit a mistake. Always attack. From planet hate, heres my contribution: So Sen. Lindsey Graham get out, you supporter of enemy in Gitmo. Arnold, flaming party hater, get lost. As for Socialist Bloomberg, move to Canada, nobody wants your liberal Bloomberg terminals. As for Will,Buckley,Hitchens you pathethic little men. Hitchens turns flaming pink and unhinges :

[equalizer]

Villify and hate or get out of Rep party, Follow the rulebook: Never accept responsiblity, never admit a mistake. Always attack. From planet hate, heres my contribution: So Sen. Lindsey Graham get out, you supporter of enemy in Gitmo. Arnold, flaming party hater, get lost. As for Socialist Bloomberg, move to Canada, nobody wants your liberal Bloomberg terminals. As for Will,Buckley,Hitchens you pathethic little men. Hitchens turns flaming pink and unhinges : <li>
Et tu, Ben Stein, &^%$$ commie, who said "It Is Time For Rumsfeld To Go And For The President To Admit That Iraq Is A Mess," <http://www.cbsnews.com/stories/2006/10/29/sunday/main2135739.shtml>
Can I stay in the party now? I got a much better idea. You demagogues can get the heck out while my buddies Arnie, Bloomberg and Lindsey will run and fix the country while you spew hate. Get out, we DONT want you. NoSuchR: Clear message from some posters here is that anything short of pure allegiance is "traitorous". 

[equalizer]

jg
First, please take a vacation to catch a cool breeze as you stroll down Michagan Av and bask in the fresh autumn air and enjoy.
Then we should just stop this thread. Lets get back to finance.
You are embarassing yourself. UofC will want their degrees back (I think you said you went there). First, you stated there is present proof for fact a. Then when confronted, you rely on the Democrats voted for war excuse for justification. No logic. But you are much smarter than that.
Some of us went to Chicago public schools, learned nothing from 4-8th grade, got beat up by gangs and subsequently couldn’t go to Hyde Park with Milton Fr. Therefore, we won’t get embarassed by our pathetic rebuttals.

[equalizer]

Why dont we have war bonds, VA bonds to pay for helping troops when they return, etc? How about a simple US stamp for 40-43 cents to help troops like breast cancer stamp? (if there is such a stamp, then I missed it)

[equalizer]

Jg

Could you be right about everything? One party controls White house, Congress and Supreme Court, but everything wrong with this country is liberal media’s fault? When President Bush says there were no WMD, are you saying that he’s a lib (stupid) or are you saying he is a Manchurian candidate? Thats sounds like liberal conspiracy theory. Why dont you call the Secret Service? I’m sure they will be happy to investigate (you).

PS
Vast majority doesn’t care about Iraq. Most people dont have any ties to it. Dow is at a high, taxes are low. most common search on Internet is for entertainment. People dont care for news. Its boring. Lets start a thread on Paris H and well get more hits!

[equalizer]

Chambermaid get paid by SD real estate association for delivering speeches (he “brags” about this occasionally) and may in fact get paid for being a silent spokesman. So its in his best interest to pull a Lay: No problem here, keep buying that stock of homes.

[equalizer]

ps

what kind of loan did you have with no PMI? You had no 2nd mortgage 3/17?

[equalizer]

In CA, mortgages are non-recourse, meaning that banks cant come after you if you leave the keys and walk away. Other states, maybe Texas, dont provide that protection so you owe the balance from loan and the repo resale.

[equalizer]

PD
you should direct your anger at the powerful people [Businesses] who are behind the airport issue and wasting more of our money. Mr. NIMBY will stop this anyway.
The infrastructure in this city is woefully inadequate, better in cities with 1/4 the population. But hey, lets subsidize millionaires with new ballparks and let Ecoli get in your water supply.

[Author]

Posts