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Happy renter
ParticipantTalking about the Psychology, the sellers and real estate agents play the dirty game. The report shows the inventory is down, but I feel there are more sale signs. I found that a lot of houses could not sell for a long time in MLS. They took off from the MLS and advertise in Yahoo or Zillow instead. So, everybody feel that there are lesser inventory.
Go the Yahoo Real Easte and click on the Real Easte Classifieds, you will find a lot of houses are not in MLS. But they were in MLS for long time but could not be sold.
If adding these to the MLS, it should be at least 10-20% more inventory.
ParticipantYes! Latesummer2008 you are right. I bought my 1st house in 1993 and it was pre-foreclosure, so I got a good deal. If I bought in 1996, I might not get a better deal. Adding the inflation and rents, I might actually lose money to wait until 1996. If anybody feels the price is comfortable and find a good deal, you can think about buying. Nobody knows exactly when is the bottom.
Cashman, I am sick of renting also. But I still need to hold on it to wait for it to collapse. I didn’t believe that LA is still going up either, so I looked into it. I found that LA has very high pre-foreclosure rate, not foreclosed yet. The point is that people in LA can’t afford, but they take risk to buy. So, a lot of houses in LA may be foreclosed.
We all hope the price will go back to normal. Hope our dream will come true soon.
Good Luck to everybody!
ParticipantIt’s extremely ridiculous for the Gov’t to grant money for paying people’s mortgages. How about us? Should the Gov’t pay the rents for us? The Gov’t itself has so much debts already.
http://brillig.com/debt_clock/
Tell the Gov’t to get the Loan from the Subprime lenders! It’s zero down with 1% interest rate. The Gov’t spends too much money on the lazy greedy insane people already. It is endless!!!!
March 13, 2007 at 4:39 PM in reply to: A.H. LENDERS: how many people in San Diego will be fired? #47590ParticipantNo! May be 8,392 houses since I assume each employee has at least 2 houses to flip around.
Seriously, I am sure there are a lot of flippers work in the mortgage and real estate industries.
March 13, 2007 at 4:00 PM in reply to: A.H. LENDERS: how many people in San Diego will be fired? #47585ParticipantYes! It means there will be additional 4,196 houses being foreclosed in SD!!
ParticipantUssually, stocks become trash if companies file bankruptcy and shut down. Companies have least obligations to common stock holders. Some people may buy the stocks when the companies almost out of business, e.g. $0.10 to gamble. If the companies can turn around or being bought out by another comapnies, they get huge profits. But usually the companies with serious debts would just close the doors. Then, they open again by using different name to issue stocks and raise tons of moeny again.
Remember Kmart filed the biggest retail bankruptcy ever in the United States in 2002. It released all the bebts and liablitiies. Then, it turned around to use another name Kmart Holding to raise tons of money from issuing new stocks. Later, Kmart meraged with Sears for $11B and shares sky rocketed. Now, SHLD is $178 / share.
It is part of the game in the Wall Street. Big Croporations and lawmakers do control the markets. We are individual investors just have to keep ourselves knowledgeable in order to survive.
ParticipantThank you hipmatt! Very nice video. Peter’s theory is similar to Robert Kiyosaki. Most Americans are spending on their credits / easy future money. It’s going to explode and may cause recession:
http://finance.yahoo.com/expert/article/richricher/25748
Some people still live in their dreams and think that houses will continue to go up to support their fancy easy lives. Well, at least we are smart to realize it and prepare ourselves for the future.
ParticipantCardiff is a very small city. Most houses are very old and in bad shape, but very too overpriced. So it’s hard to find good rental. Encinitas & Del Mar are much bigger, have more choices, less expensive, newer & nicer houses, better schools, better facilities and better recreations for kids.
ParticipantThank you kev374! It is a very good web site with a lot of valuable statistic data.
ParticipantFarbet! Unfortunately, too many people are committing these kinds of faults. It is impossible and costs too much to put all of them in justice. A lot of flippers and landlords took advantages of it to get rich. Even regular owners could cash out money from their houses. They don’t care!!!!! All these people add up together are the majority of population.
This time is different from last time. The housing market was up for too many years. Most owners have a lot of equities, so they can afford the houses empty to hold on the housing prices. But housing market is ridiculous overpriced this time. So, I believe it will collpse.
People who purposely to inflate the housing market will burn themselves. We just have to be more patient. You are not alone. We all here have the same goal to support each other.
ParticipantThese people created the liar loans to inflate the housing market and got huge quick profits while other people suffered from paying for the high housing costs. I don’t give them any mercy for losing their houses.
ParticipantNew dropped 90% since 2005!!!!
Yes! Latesummer, I agree with you.
New Century, the second-largest player in the subprime industry sahers fell $8.65, or almost 60% to $6 in early Monday trade today. It was over $60 in 2005. It has already dropped 90% since all time high. The housing market will follow the footstep of subprime lender and will drop at least 50%.ParticipantNew dropped 90% since 2005!!!!
Yes! Latesummer, I agree with you.
New Century, the second-largest player in the subprime industry sahers fell $8.65, or almost 60% to $6 in early Monday trade today. It was over $60 in 2005. It has already dropped 90% since all time high. The housing market will follow the footstep of subprime lender and will drop at least 50%.ParticipantNew dropped 90% since 2005!!!!
Yes! Latesummer, I agree with you.
New Century, the second-largest player in the subprime industry sahers fell $8.65, or almost 60% to $6 in early Monday trade today. It was over $60 in 2005. It has already dropped 90% since all time high. The housing market will follow the footstep of subprime lender and will drop at least 50%. -
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