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Eugene
Participantmax 29% monthly housing payments to gross income, if I remember correctly.
Eugene
ParticipantActually this statement is taken out of context.
Here’s what he is saying.* Home prices must go down and housing sell-off must exhaust itself before this credit crisis resolves
* Government should not directly interfere with workings of free markets and must allow the system to cleanse itself
* IF there is a desire to reduce the stress among troubled homeowners, fiscal solution (giving away cash, presumably via tax cuts) is preferable to messing with free marketsEugene
ParticipantActually this statement is taken out of context.
Here’s what he is saying.* Home prices must go down and housing sell-off must exhaust itself before this credit crisis resolves
* Government should not directly interfere with workings of free markets and must allow the system to cleanse itself
* IF there is a desire to reduce the stress among troubled homeowners, fiscal solution (giving away cash, presumably via tax cuts) is preferable to messing with free marketsEugene
ParticipantActually this statement is taken out of context.
Here’s what he is saying.* Home prices must go down and housing sell-off must exhaust itself before this credit crisis resolves
* Government should not directly interfere with workings of free markets and must allow the system to cleanse itself
* IF there is a desire to reduce the stress among troubled homeowners, fiscal solution (giving away cash, presumably via tax cuts) is preferable to messing with free marketsEugene
ParticipantActually this statement is taken out of context.
Here’s what he is saying.* Home prices must go down and housing sell-off must exhaust itself before this credit crisis resolves
* Government should not directly interfere with workings of free markets and must allow the system to cleanse itself
* IF there is a desire to reduce the stress among troubled homeowners, fiscal solution (giving away cash, presumably via tax cuts) is preferable to messing with free marketsEugene
ParticipantActually this statement is taken out of context.
Here’s what he is saying.* Home prices must go down and housing sell-off must exhaust itself before this credit crisis resolves
* Government should not directly interfere with workings of free markets and must allow the system to cleanse itself
* IF there is a desire to reduce the stress among troubled homeowners, fiscal solution (giving away cash, presumably via tax cuts) is preferable to messing with free marketsEugene
ParticipantNumbers from calculatedrisk are misleading (I’d even say inaccurate). 20% nationwide decline is the average of 50% decline in California and maybe 10% in Minnesota.
Personally I expect 50% default rate among all homes bought or refinanced in CA/AZ/NV/FL between mid-2004 and 2007. Something like 700k foreclosures in CA and 50k foreclosures in San Diego county.
Eugene
ParticipantNumbers from calculatedrisk are misleading (I’d even say inaccurate). 20% nationwide decline is the average of 50% decline in California and maybe 10% in Minnesota.
Personally I expect 50% default rate among all homes bought or refinanced in CA/AZ/NV/FL between mid-2004 and 2007. Something like 700k foreclosures in CA and 50k foreclosures in San Diego county.
Eugene
ParticipantNumbers from calculatedrisk are misleading (I’d even say inaccurate). 20% nationwide decline is the average of 50% decline in California and maybe 10% in Minnesota.
Personally I expect 50% default rate among all homes bought or refinanced in CA/AZ/NV/FL between mid-2004 and 2007. Something like 700k foreclosures in CA and 50k foreclosures in San Diego county.
Eugene
ParticipantNumbers from calculatedrisk are misleading (I’d even say inaccurate). 20% nationwide decline is the average of 50% decline in California and maybe 10% in Minnesota.
Personally I expect 50% default rate among all homes bought or refinanced in CA/AZ/NV/FL between mid-2004 and 2007. Something like 700k foreclosures in CA and 50k foreclosures in San Diego county.
Eugene
ParticipantNumbers from calculatedrisk are misleading (I’d even say inaccurate). 20% nationwide decline is the average of 50% decline in California and maybe 10% in Minnesota.
Personally I expect 50% default rate among all homes bought or refinanced in CA/AZ/NV/FL between mid-2004 and 2007. Something like 700k foreclosures in CA and 50k foreclosures in San Diego county.
December 15, 2007 at 6:11 PM in reply to: Repos hitting astounding new lows-will it affect the rest #118076Eugene
Participant$95/sq ft in East Murrieta – 57% off the peak (description seems to imply that there may be something wrong with the house)
http://www.redfin.com/stingray/do/printable-listing?listing-id=595882
Sub-300k 5br McMansion in Murrieta
http://www.redfin.com/stingray/do/printable-listing?listing-id=933724
More home than you’d probably ever need in your life (unless you have quintuplets?) for $400k in Murrieta
http://www.redfin.com/stingray/do/printable-listing?listing-id=734952
$77/sq ft in Hemet area
http://www.redfin.com/stingray/do/printable-listing?listing-id=1153601
December 15, 2007 at 6:11 PM in reply to: Repos hitting astounding new lows-will it affect the rest #118207Eugene
Participant$95/sq ft in East Murrieta – 57% off the peak (description seems to imply that there may be something wrong with the house)
http://www.redfin.com/stingray/do/printable-listing?listing-id=595882
Sub-300k 5br McMansion in Murrieta
http://www.redfin.com/stingray/do/printable-listing?listing-id=933724
More home than you’d probably ever need in your life (unless you have quintuplets?) for $400k in Murrieta
http://www.redfin.com/stingray/do/printable-listing?listing-id=734952
$77/sq ft in Hemet area
http://www.redfin.com/stingray/do/printable-listing?listing-id=1153601
December 15, 2007 at 6:11 PM in reply to: Repos hitting astounding new lows-will it affect the rest #118242Eugene
Participant$95/sq ft in East Murrieta – 57% off the peak (description seems to imply that there may be something wrong with the house)
http://www.redfin.com/stingray/do/printable-listing?listing-id=595882
Sub-300k 5br McMansion in Murrieta
http://www.redfin.com/stingray/do/printable-listing?listing-id=933724
More home than you’d probably ever need in your life (unless you have quintuplets?) for $400k in Murrieta
http://www.redfin.com/stingray/do/printable-listing?listing-id=734952
$77/sq ft in Hemet area
http://www.redfin.com/stingray/do/printable-listing?listing-id=1153601
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