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(former)FormerSanDiegan
ParticipantYour safest assumption is to be prepared to move out tomorrow.
(former)FormerSanDiegan
ParticipantI just noticed this:
“…it is unreasonable to expect home values to return to stability by the end of 2011,” said Zillow chief economist Stan Humphries in a statement.
Stan Humphries ????
Really ?
I still think the Chargers’ run to the Super Bowl in ’94-’95 behind his leadership at QB was on of the finest moments in SD sports history, but does that make him qualified to be an expert on home prices ?
[img_assist|nid=14957|title=Stan Humphries|desc=|link=node|align=left|width=120|height=168]
(former)FormerSanDiegan
ParticipantI just noticed this:
“…it is unreasonable to expect home values to return to stability by the end of 2011,” said Zillow chief economist Stan Humphries in a statement.
Stan Humphries ????
Really ?
I still think the Chargers’ run to the Super Bowl in ’94-’95 behind his leadership at QB was on of the finest moments in SD sports history, but does that make him qualified to be an expert on home prices ?
[img_assist|nid=14957|title=Stan Humphries|desc=|link=node|align=left|width=120|height=168]
(former)FormerSanDiegan
ParticipantI just noticed this:
“…it is unreasonable to expect home values to return to stability by the end of 2011,” said Zillow chief economist Stan Humphries in a statement.
Stan Humphries ????
Really ?
I still think the Chargers’ run to the Super Bowl in ’94-’95 behind his leadership at QB was on of the finest moments in SD sports history, but does that make him qualified to be an expert on home prices ?
[img_assist|nid=14957|title=Stan Humphries|desc=|link=node|align=left|width=120|height=168]
(former)FormerSanDiegan
ParticipantI just noticed this:
“…it is unreasonable to expect home values to return to stability by the end of 2011,” said Zillow chief economist Stan Humphries in a statement.
Stan Humphries ????
Really ?
I still think the Chargers’ run to the Super Bowl in ’94-’95 behind his leadership at QB was on of the finest moments in SD sports history, but does that make him qualified to be an expert on home prices ?
[img_assist|nid=14957|title=Stan Humphries|desc=|link=node|align=left|width=120|height=168]
(former)FormerSanDiegan
ParticipantI just noticed this:
“…it is unreasonable to expect home values to return to stability by the end of 2011,” said Zillow chief economist Stan Humphries in a statement.
Stan Humphries ????
Really ?
I still think the Chargers’ run to the Super Bowl in ’94-’95 behind his leadership at QB was on of the finest moments in SD sports history, but does that make him qualified to be an expert on home prices ?
[img_assist|nid=14957|title=Stan Humphries|desc=|link=node|align=left|width=120|height=168]
(former)FormerSanDiegan
Participant[quote=paramount]Since many piggs are part of the FIRE industries it comes as no surprise so many are pooh-poohing the article and notion that real estate still has a ways to fall. It’s local, it’s this, it’s that, bla bla bla.
Makes perfect sense to me: at some point market forces will overpower gov’t intervention and find true equilibrium.[/quote]
I agree market forces and fundamentals will ultimately govern. Unfortunately, this article doesn;t look at those. They point to recent declines and near-term projhections based on price data, plus Zillow forecast speculation. I see nothing in the article or in Zillow’s methodlogy that relates price forecast to fundamentals.
(former)FormerSanDiegan
Participant[quote=paramount]Since many piggs are part of the FIRE industries it comes as no surprise so many are pooh-poohing the article and notion that real estate still has a ways to fall. It’s local, it’s this, it’s that, bla bla bla.
Makes perfect sense to me: at some point market forces will overpower gov’t intervention and find true equilibrium.[/quote]
I agree market forces and fundamentals will ultimately govern. Unfortunately, this article doesn;t look at those. They point to recent declines and near-term projhections based on price data, plus Zillow forecast speculation. I see nothing in the article or in Zillow’s methodlogy that relates price forecast to fundamentals.
(former)FormerSanDiegan
Participant[quote=paramount]Since many piggs are part of the FIRE industries it comes as no surprise so many are pooh-poohing the article and notion that real estate still has a ways to fall. It’s local, it’s this, it’s that, bla bla bla.
Makes perfect sense to me: at some point market forces will overpower gov’t intervention and find true equilibrium.[/quote]
I agree market forces and fundamentals will ultimately govern. Unfortunately, this article doesn;t look at those. They point to recent declines and near-term projhections based on price data, plus Zillow forecast speculation. I see nothing in the article or in Zillow’s methodlogy that relates price forecast to fundamentals.
(former)FormerSanDiegan
Participant[quote=paramount]Since many piggs are part of the FIRE industries it comes as no surprise so many are pooh-poohing the article and notion that real estate still has a ways to fall. It’s local, it’s this, it’s that, bla bla bla.
Makes perfect sense to me: at some point market forces will overpower gov’t intervention and find true equilibrium.[/quote]
I agree market forces and fundamentals will ultimately govern. Unfortunately, this article doesn;t look at those. They point to recent declines and near-term projhections based on price data, plus Zillow forecast speculation. I see nothing in the article or in Zillow’s methodlogy that relates price forecast to fundamentals.
(former)FormerSanDiegan
Participant[quote=paramount]Since many piggs are part of the FIRE industries it comes as no surprise so many are pooh-poohing the article and notion that real estate still has a ways to fall. It’s local, it’s this, it’s that, bla bla bla.
Makes perfect sense to me: at some point market forces will overpower gov’t intervention and find true equilibrium.[/quote]
I agree market forces and fundamentals will ultimately govern. Unfortunately, this article doesn;t look at those. They point to recent declines and near-term projhections based on price data, plus Zillow forecast speculation. I see nothing in the article or in Zillow’s methodlogy that relates price forecast to fundamentals.
(former)FormerSanDiegan
ParticipantIs that $12,000 all your retirement savings ?
Imagine yourself nearing retirement.
In 25 or 30 years, that could be ~ 50K (assuming reasonable, not excessive returns).Wouldn’t you rather have those funds for maybe a few months of food and property tax, so that you can remain in the home you are currently paying PMI on.
On the other hand, if you are in a position where you could eliminate PMI by using these funds to pay down principal, that could work, assuming that you pay yorself back by funding an IRA for the next couple opf years.
Of course, you will be taxed at your income tax rate plus a 10% pentaly, so you might only end up with $9K or so to spend (if you are in a marginal 15% tax bracket)
(former)FormerSanDiegan
ParticipantIs that $12,000 all your retirement savings ?
Imagine yourself nearing retirement.
In 25 or 30 years, that could be ~ 50K (assuming reasonable, not excessive returns).Wouldn’t you rather have those funds for maybe a few months of food and property tax, so that you can remain in the home you are currently paying PMI on.
On the other hand, if you are in a position where you could eliminate PMI by using these funds to pay down principal, that could work, assuming that you pay yorself back by funding an IRA for the next couple opf years.
Of course, you will be taxed at your income tax rate plus a 10% pentaly, so you might only end up with $9K or so to spend (if you are in a marginal 15% tax bracket)
(former)FormerSanDiegan
ParticipantIs that $12,000 all your retirement savings ?
Imagine yourself nearing retirement.
In 25 or 30 years, that could be ~ 50K (assuming reasonable, not excessive returns).Wouldn’t you rather have those funds for maybe a few months of food and property tax, so that you can remain in the home you are currently paying PMI on.
On the other hand, if you are in a position where you could eliminate PMI by using these funds to pay down principal, that could work, assuming that you pay yorself back by funding an IRA for the next couple opf years.
Of course, you will be taxed at your income tax rate plus a 10% pentaly, so you might only end up with $9K or so to spend (if you are in a marginal 15% tax bracket)
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