[Ex-SD]

I grew up in South Carolina. I owned a shotgun, a semi-automatic .22 rifle and a .38 pistol when I was 13. My grandfather taught me how to hunt rabbits with the shotgun. I used the .22 to hunt other small game and I was taught how to use the .38 for home protection. Almost everyone that I knew also owned similar guns. When disagreements would break out among my friends, no one ever threatened to shoot anyone and nobody ever ran home to get a gun when they lost a schoolyard fight or if someone was bullying them. I never heard of a shooting in a school until I was in my early 30’s. I was born in 1948 so every weekend, my friends and I watched cowboy movies where people shot at each other and routinely got in fist fights. Those shows didn’t cause anyone to shoot anyone else or be excessively violent. My opinion is that violent, interactive video games, gangster rap recordings and lack of two parents along with proper discipline in the household during crucial years have caused this wave of violence. My wife and I reared three boys in San Diego and I taught all three how to shoot and handle a weapon safely (along with my wife). All three are now adults and none have ever been involved in any incidents. Proper parenting goes a long way and there is a severe lack of that with today’s youth.

[Ex-SD]

I’m not talking about a vacation home. I’m talking about a primary residence. If someone is planning on throwing the keys back to the lender and attempts to buy another home in the same general market, the lender isn’t going to believe that it’s a vacation home. They would buy off on the idea of it being a rental but then they’re going to want to see a substantial down payment and a full-doc loan now that liar loans are out the window.

Any mortgage pros want to get in on this and correct me if I’m wrong?

[Ex-SD]

I’m not talking about a vacation home. I’m talking about a primary residence. If someone is planning on throwing the keys back to the lender and attempts to buy another home in the same general market, the lender isn’t going to believe that it’s a vacation home. They would buy off on the idea of it being a rental but then they’re going to want to see a substantial down payment and a full-doc loan now that liar loans are out the window.

Any mortgage pros want to get in on this and correct me if I’m wrong?

[Ex-SD]

It’s not that easy anymore. Getting a loan for another home while you still own the present one will be difficult. The bank will still count the obligation for the first home towards your total debt.

[Ex-SD]

It’s not that easy anymore. Getting a loan for another home while you still own the present one will be difficult. The bank will still count the obligation for the first home towards your total debt.

[Ex-SD]

I read the online version of The Chronicle every day. When I read this article, I responded with an email to the author asking her why she didn’t do some fact-finding rather than parroting what C.A.R. is saying. I told her that when someone reads and interprets all the available data on this subject, they will quickly see that prices are going to fall a lot further than this article claims………..and that they’ll fall a lot further in the ensuing three or four years. I haven’t received a response.

[Ex-SD]

I read the online version of The Chronicle every day. When I read this article, I responded with an email to the author asking her why she didn’t do some fact-finding rather than parroting what C.A.R. is saying. I told her that when someone reads and interprets all the available data on this subject, they will quickly see that prices are going to fall a lot further than this article claims………..and that they’ll fall a lot further in the ensuing three or four years. I haven’t received a response.

[Ex-SD]

doofrat: That looks like a clip that was directed by Joseph Goebbels.
ROTFLMAO

Makes you want to run out and buy a home, doesn’t it?

[Ex-SD]

doofrat: That looks like a clip that was directed by Joseph Goebbels.
ROTFLMAO

Makes you want to run out and buy a home, doesn’t it?

[Ex-SD]

raptorduck: From what I’ve seen in L.A., S.F. and S.D……..the $15+ million segment of the market seems to be immune from the bursting bubble because these people have big F.U. money. I’ve been following the S.F. marketplace and the $1.5 million and below segment is dropping in price and seeing fewer and fewer buyers.

Re. Alex_angel………….He goes through a number of posts with one set of logic (or lack thereof) and another number of posts with an entirely different mindset. He’s either a split/multi personality or a troll. Pay him no attention and he’ll find someone else to aggravate.

[Ex-SD]

raptorduck: From what I’ve seen in L.A., S.F. and S.D……..the $15+ million segment of the market seems to be immune from the bursting bubble because these people have big F.U. money. I’ve been following the S.F. marketplace and the $1.5 million and below segment is dropping in price and seeing fewer and fewer buyers.

Re. Alex_angel………….He goes through a number of posts with one set of logic (or lack thereof) and another number of posts with an entirely different mindset. He’s either a split/multi personality or a troll. Pay him no attention and he’ll find someone else to aggravate.

[Ex-SD]

Great information. Yep, it’s going to get uglier & uglier as the months pass. It’s actually moving quicker than I thought it would. I thought that most of the Banks would try for one more spring-summer selling season at higher prices. As more & more REO’s hit the market at lower & lower prices, people who need to sell will have to compete with them which will start a low price war between the REO’s & private sellers. The buyer will be the winner. Just wait until all of those ARM re-sets peak.

[Ex-SD]

Great information. Yep, it’s going to get uglier & uglier as the months pass. It’s actually moving quicker than I thought it would. I thought that most of the Banks would try for one more spring-summer selling season at higher prices. As more & more REO’s hit the market at lower & lower prices, people who need to sell will have to compete with them which will start a low price war between the REO’s & private sellers. The buyer will be the winner. Just wait until all of those ARM re-sets peak.

[Ex-SD]

Congratulations! I don’t think that any neighborhoods (except the ultra-mansions in the $15 million plus range) will be immune from the bursting bubble. IMHO, there will always be some buyers who refuse to believe what is obvious and it looks like you caught one.

Also, the outlying areas always get hit first (and the worst) and then it starts moving towards the better neighborhoods. I read several other housing-bubble blogs and communities like Santa Monica and Pacific Palisades in the west end of L.A. (which are very high priced for what you get) are starting to see larger reductions in their asking prices, rising inventories and more negative press.

Be happy that you sold. Now, you can sit back and watch the festivities.

[Ex-SD]

Congratulations! I don’t think that any neighborhoods (except the ultra-mansions in the $15 million plus range) will be immune from the bursting bubble. IMHO, there will always be some buyers who refuse to believe what is obvious and it looks like you caught one.

Also, the outlying areas always get hit first (and the worst) and then it starts moving towards the better neighborhoods. I read several other housing-bubble blogs and communities like Santa Monica and Pacific Palisades in the west end of L.A. (which are very high priced for what you get) are starting to see larger reductions in their asking prices, rising inventories and more negative press.

Be happy that you sold. Now, you can sit back and watch the festivities.

[Author]

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