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July 11, 2007 at 9:19 PM in reply to: Standard & Poor’s just drove a huge harpoon into the heart of the mortgage credit bubble, #65324
GoUSC
ParticipantThey weren’t doom and gloom because everytime they slapped an AAA rating on a sub-prime backed CDO they stuck another check in their bank account. The whole financial system is a sham designed to take advantage of the regular joe schmo out there who doesn’t know where his pension money goes. This is just another example of it. A select few made BILLIONS of dollars on that backs of lazy fat stupid Americans (themselves to blame as well for buying homes they couldn’t afford). While those of us in the middle who didn’t buy into their shennanigans (sp??) sit on the sideline hoping (and praying) that the housing price crash really happens so that we can buy a home. Hopefully we’ll still have an economy and a job when it does.
July 11, 2007 at 9:19 PM in reply to: Standard & Poor’s just drove a huge harpoon into the heart of the mortgage credit bubble, #65387ParticipantThey weren’t doom and gloom because everytime they slapped an AAA rating on a sub-prime backed CDO they stuck another check in their bank account. The whole financial system is a sham designed to take advantage of the regular joe schmo out there who doesn’t know where his pension money goes. This is just another example of it. A select few made BILLIONS of dollars on that backs of lazy fat stupid Americans (themselves to blame as well for buying homes they couldn’t afford). While those of us in the middle who didn’t buy into their shennanigans (sp??) sit on the sideline hoping (and praying) that the housing price crash really happens so that we can buy a home. Hopefully we’ll still have an economy and a job when it does.
ParticipantIt amazes me time and time again that people forget about the early 90’s. Or simply say “It’s ‘different’ this time”. Economies go through cycles. No ifs ands or buts. This one is just going to be worse than the 90’s because of Greenspan postponing a needed correction by lowering interest rates too far during the dot-com bust.
Regardless, it’s nice reading about history and how much it mirrors what is happening today. Great find, thanks!
ParticipantIt amazes me time and time again that people forget about the early 90’s. Or simply say “It’s ‘different’ this time”. Economies go through cycles. No ifs ands or buts. This one is just going to be worse than the 90’s because of Greenspan postponing a needed correction by lowering interest rates too far during the dot-com bust.
Regardless, it’s nice reading about history and how much it mirrors what is happening today. Great find, thanks!
ParticipantSD Realtor: I wasn’t really referring to your post. It was some of the other ones that were way Off-Topic.
ibjames: The point of this thread is to get an idea of what the makeup is for people who are looking for homes. Gives me, and others, a way to see if my expectations are in line with that of others in terms of neighborhoods and what I am willing to pay in that neighborhood. Plus I find it always more interesting to learn more about the people that you chat with on a board.
ParticipantSD Realtor: I wasn’t really referring to your post. It was some of the other ones that were way Off-Topic.
ibjames: The point of this thread is to get an idea of what the makeup is for people who are looking for homes. Gives me, and others, a way to see if my expectations are in line with that of others in terms of neighborhoods and what I am willing to pay in that neighborhood. Plus I find it always more interesting to learn more about the people that you chat with on a board.
ParticipantThis has to do with the cities desiring for “walk-able” neighborhoods. By moving garages to the back you have nicer fronts to homes and can have porches etc. I personally prefer it.
ParticipantThis has to do with the cities desiring for “walk-able” neighborhoods. By moving garages to the back you have nicer fronts to homes and can have porches etc. I personally prefer it.
ParticipantThe de-facto standard for Minivan’s is the Odyssey. I know several familes with them and they have all been very happy.
ParticipantThe de-facto standard for Minivan’s is the Odyssey. I know several familes with them and they have all been very happy.
ParticipantThis sounds a lot like the early nineties when people in California just dropped the keys to their house in an envelope and mailed it to the lender.
ParticipantThis sounds a lot like the early nineties when people in California just dropped the keys to their house in an envelope and mailed it to the lender.
ParticipantAnd now…the consumer has to continue their debt spending because all their income is going to pay their mortgage. This months consumer revolving credit number is up 9.75% (a new record).
ParticipantAnd now…the consumer has to continue their debt spending because all their income is going to pay their mortgage. This months consumer revolving credit number is up 9.75% (a new record).
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