[Eugene]

max 29% monthly housing payments to gross income, if I remember correctly.

[Eugene]

max 29% monthly housing payments to gross income, if I remember correctly.

[Eugene]

Actually 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 markets

[Eugene]

Actually 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 markets

[Eugene]

Actually 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 markets

[Eugene]

Actually 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 markets

[Eugene]

Actually 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 markets

[Eugene]

Numbers 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]

Numbers 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]

Numbers 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]

Numbers 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]

Numbers 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]

$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

[Eugene]

$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

[Eugene]

$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

[Author]

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