[(former)FormerSanDiegan]

[quote=TheBreeze]And not only is the government subsidizing housing for rich a-holes, they are allowing banks to keep their REOs off the market. According the Mr. Mortgage, banks are hoarding 2/3rds of their REOs:

Additionally, they also forget about ’shadow inventory’ in the form of REO that is not listed. Realty Trac said in a recent story that they show that only about a third of all REO is listed and trackable as inventory. The rest is sitting rotting at the banks/servicers.

http://mrmortgage.ml-implode.com/

So now those of us looking to buy a house get screwed two ways: Government subsidies have pushed up the price of housing and the government is allowing banks to keep a large chunk of housing inventory off the market which further drives up housing costs.

F***! F***! F***! I’m tired of getting shafted by the government.

I hope all that shadow REO inventory hits the market soon and breaks all the ‘mom and pops’. You probably see the ‘mom and pops’ as some type of American hero. I just see them as slumlords who are basically equivalent to a welfare queen in my mind as they both suck off the government teat.

I’m surprised to see so many Piggs in favor of all this government housing assistance. I thought most of you guys were in favor of capitalism. Instead, most of you are more socialist than Marx. [/quote]

The combination of low mortgage rates and decline in prices has brought housing in San Diego to an afforability level seen in maybe 4 years out of the last 30. (as of last fall). At some point this year as a result of the REOs in the pipeline, assuming rates hover in the 5.5% range San Diego will likely be at levels of affordability (monthly payment relative to income for 30-year fixed) not seen in over 30 years …

… and you are still focused on how “those of us looking to buy a house get screwed two ways.”

To some people the glass is half full, others keep asking for a bigger glass and complain that it’s more than half empty.

[(former)FormerSanDiegan]

[quote=TheBreeze]And not only is the government subsidizing housing for rich a-holes, they are allowing banks to keep their REOs off the market. According the Mr. Mortgage, banks are hoarding 2/3rds of their REOs:

Additionally, they also forget about ’shadow inventory’ in the form of REO that is not listed. Realty Trac said in a recent story that they show that only about a third of all REO is listed and trackable as inventory. The rest is sitting rotting at the banks/servicers.

http://mrmortgage.ml-implode.com/

So now those of us looking to buy a house get screwed two ways: Government subsidies have pushed up the price of housing and the government is allowing banks to keep a large chunk of housing inventory off the market which further drives up housing costs.

F***! F***! F***! I’m tired of getting shafted by the government.

I hope all that shadow REO inventory hits the market soon and breaks all the ‘mom and pops’. You probably see the ‘mom and pops’ as some type of American hero. I just see them as slumlords who are basically equivalent to a welfare queen in my mind as they both suck off the government teat.

I’m surprised to see so many Piggs in favor of all this government housing assistance. I thought most of you guys were in favor of capitalism. Instead, most of you are more socialist than Marx. [/quote]

The combination of low mortgage rates and decline in prices has brought housing in San Diego to an afforability level seen in maybe 4 years out of the last 30. (as of last fall). At some point this year as a result of the REOs in the pipeline, assuming rates hover in the 5.5% range San Diego will likely be at levels of affordability (monthly payment relative to income for 30-year fixed) not seen in over 30 years …

… and you are still focused on how “those of us looking to buy a house get screwed two ways.”

To some people the glass is half full, others keep asking for a bigger glass and complain that it’s more than half empty.

[(former)FormerSanDiegan]

[quote=TheBreeze]
Oh joy! So instead of being able to buy my own place …

[/quote]

OK. SO it’s not really about “public policy” is it ? It’s about how government policy can help people in the same position as you, which you equate to being in the best interest of the public. I get it. Do you or a spouse work in R&D by chance ?

My civil Engineering buddies think it’s in the public best interest to spend the country’s future tax dollars on bridges and infrastructure. My teacher friend think it’s in the public’s best interest to spend more on educating our children.

I understand where you are coming from.

[(former)FormerSanDiegan]

[quote=TheBreeze]
Oh joy! So instead of being able to buy my own place …

[/quote]

OK. SO it’s not really about “public policy” is it ? It’s about how government policy can help people in the same position as you, which you equate to being in the best interest of the public. I get it. Do you or a spouse work in R&D by chance ?

My civil Engineering buddies think it’s in the public best interest to spend the country’s future tax dollars on bridges and infrastructure. My teacher friend think it’s in the public’s best interest to spend more on educating our children.

I understand where you are coming from.

[(former)FormerSanDiegan]

[quote=TheBreeze]
Oh joy! So instead of being able to buy my own place …

[/quote]

OK. SO it’s not really about “public policy” is it ? It’s about how government policy can help people in the same position as you, which you equate to being in the best interest of the public. I get it. Do you or a spouse work in R&D by chance ?

My civil Engineering buddies think it’s in the public best interest to spend the country’s future tax dollars on bridges and infrastructure. My teacher friend think it’s in the public’s best interest to spend more on educating our children.

I understand where you are coming from.

[(former)FormerSanDiegan]

[quote=TheBreeze]
Oh joy! So instead of being able to buy my own place …

[/quote]

OK. SO it’s not really about “public policy” is it ? It’s about how government policy can help people in the same position as you, which you equate to being in the best interest of the public. I get it. Do you or a spouse work in R&D by chance ?

My civil Engineering buddies think it’s in the public best interest to spend the country’s future tax dollars on bridges and infrastructure. My teacher friend think it’s in the public’s best interest to spend more on educating our children.

I understand where you are coming from.

[(former)FormerSanDiegan]

[quote=TheBreeze]
Oh joy! So instead of being able to buy my own place …

[/quote]

OK. SO it’s not really about “public policy” is it ? It’s about how government policy can help people in the same position as you, which you equate to being in the best interest of the public. I get it. Do you or a spouse work in R&D by chance ?

My civil Engineering buddies think it’s in the public best interest to spend the country’s future tax dollars on bridges and infrastructure. My teacher friend think it’s in the public’s best interest to spend more on educating our children.

I understand where you are coming from.

[(former)FormerSanDiegan]

Forget Ohio. I’ve heard that land and housing is getting pretty cheap in parts of Southern California, particularly in San Bernardino and Riverside Counties. Maybe buy a cabin in the mountains for $150K. Throw on some solar panels, grab a copy of Theodore J. Kaczynski’s memoirs and a few thousand bottles of scotch and count the days ’til 2012.

P.S. – Forgive my ignorance, but for planning the purposes I need to know whether the Mayan calendar ended at the beginning of 2012 or the end of the year, e.g. Jan 1 or Dec 31. This will help me and my financial planner schedule my laddered CD purchases more optimally. I’d hate to have a CD mature after the end of time. That would be wasteful. Thanks.

[(former)FormerSanDiegan]

Forget Ohio. I’ve heard that land and housing is getting pretty cheap in parts of Southern California, particularly in San Bernardino and Riverside Counties. Maybe buy a cabin in the mountains for $150K. Throw on some solar panels, grab a copy of Theodore J. Kaczynski’s memoirs and a few thousand bottles of scotch and count the days ’til 2012.

P.S. – Forgive my ignorance, but for planning the purposes I need to know whether the Mayan calendar ended at the beginning of 2012 or the end of the year, e.g. Jan 1 or Dec 31. This will help me and my financial planner schedule my laddered CD purchases more optimally. I’d hate to have a CD mature after the end of time. That would be wasteful. Thanks.

[(former)FormerSanDiegan]

Forget Ohio. I’ve heard that land and housing is getting pretty cheap in parts of Southern California, particularly in San Bernardino and Riverside Counties. Maybe buy a cabin in the mountains for $150K. Throw on some solar panels, grab a copy of Theodore J. Kaczynski’s memoirs and a few thousand bottles of scotch and count the days ’til 2012.

P.S. – Forgive my ignorance, but for planning the purposes I need to know whether the Mayan calendar ended at the beginning of 2012 or the end of the year, e.g. Jan 1 or Dec 31. This will help me and my financial planner schedule my laddered CD purchases more optimally. I’d hate to have a CD mature after the end of time. That would be wasteful. Thanks.

[(former)FormerSanDiegan]

Forget Ohio. I’ve heard that land and housing is getting pretty cheap in parts of Southern California, particularly in San Bernardino and Riverside Counties. Maybe buy a cabin in the mountains for $150K. Throw on some solar panels, grab a copy of Theodore J. Kaczynski’s memoirs and a few thousand bottles of scotch and count the days ’til 2012.

P.S. – Forgive my ignorance, but for planning the purposes I need to know whether the Mayan calendar ended at the beginning of 2012 or the end of the year, e.g. Jan 1 or Dec 31. This will help me and my financial planner schedule my laddered CD purchases more optimally. I’d hate to have a CD mature after the end of time. That would be wasteful. Thanks.

[(former)FormerSanDiegan]

Forget Ohio. I’ve heard that land and housing is getting pretty cheap in parts of Southern California, particularly in San Bernardino and Riverside Counties. Maybe buy a cabin in the mountains for $150K. Throw on some solar panels, grab a copy of Theodore J. Kaczynski’s memoirs and a few thousand bottles of scotch and count the days ’til 2012.

P.S. – Forgive my ignorance, but for planning the purposes I need to know whether the Mayan calendar ended at the beginning of 2012 or the end of the year, e.g. Jan 1 or Dec 31. This will help me and my financial planner schedule my laddered CD purchases more optimally. I’d hate to have a CD mature after the end of time. That would be wasteful. Thanks.

[(former)FormerSanDiegan]

What public policy is served by making it easier for rich a-holes to buy multiple homes?

Red herring. Rich a-holes do not need Fannie Mae backed loans. They can buy with cash or corporate/business financing arrangements.

Those who are hindered by this rule are those who buy a second house and rent out their first house as a rental property. These are your typical Mom & Pop landlords. Unlike the corporate-run large box apartment complexes, these are the people who typically rent out single-family homes. These are the folks you rent from that never raise the rent until you leave.

Perhaps you are right, maybe we should not encourage the mom & pops. The better approach is to allow all investment property to end up in the hands of corporate entities. To hell with the little guy.

I agree with your comments on research, though. Research spending in this country (both Government and within companies) has been trimmed and focused too much on the short-term.

[(former)FormerSanDiegan]

What public policy is served by making it easier for rich a-holes to buy multiple homes?

Red herring. Rich a-holes do not need Fannie Mae backed loans. They can buy with cash or corporate/business financing arrangements.

Those who are hindered by this rule are those who buy a second house and rent out their first house as a rental property. These are your typical Mom & Pop landlords. Unlike the corporate-run large box apartment complexes, these are the people who typically rent out single-family homes. These are the folks you rent from that never raise the rent until you leave.

Perhaps you are right, maybe we should not encourage the mom & pops. The better approach is to allow all investment property to end up in the hands of corporate entities. To hell with the little guy.

I agree with your comments on research, though. Research spending in this country (both Government and within companies) has been trimmed and focused too much on the short-term.

[(former)FormerSanDiegan]

What public policy is served by making it easier for rich a-holes to buy multiple homes?

Red herring. Rich a-holes do not need Fannie Mae backed loans. They can buy with cash or corporate/business financing arrangements.

Those who are hindered by this rule are those who buy a second house and rent out their first house as a rental property. These are your typical Mom & Pop landlords. Unlike the corporate-run large box apartment complexes, these are the people who typically rent out single-family homes. These are the folks you rent from that never raise the rent until you leave.

Perhaps you are right, maybe we should not encourage the mom & pops. The better approach is to allow all investment property to end up in the hands of corporate entities. To hell with the little guy.

I agree with your comments on research, though. Research spending in this country (both Government and within companies) has been trimmed and focused too much on the short-term.

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