[HLS]

Aren’t you aware of all the pent up demand from “sellers” who are just waiting to get even ???

What’s the sense of listing today when over 90% of what is listed isn’t selling, and many people think that their neighbor’s house that remains unsold is too cheap anyway, theirs “must be” worth more.

MLS listings don’t tell the whole story in a declining market.

It’s a pain to list a house for sale. It’s easier to stay for free and get foreclosed on someday. Why bother trying to sell when you owe $200K more than it’s worth, unless you have to.

In many areas, every single home bought in 2004,2005,2006 and 2007 the “owner” has paid more than the house is worth today.

I wouldn’t pay much attention to falling inventory numbers.
It may turn out to be a foolish indicator.
The available pool of buyers has probably dropped over 50%,
who cares that MLS inventory has dropped 4% or 8%.

There is still plenty to choose from, unless you only want a certain color house on a certain street.
As far as shelter, there is no shortage of houses.

The comparison of inventory #’s is COMPLETELY different when everybody HAS equity and is holding off selling because they want more. Contraction of inventory in an up market is much different.

Just like there is no shortage of cars that provide transportation either, but if you only want a 1965 pink Cadillac, you may have a tough time finding exactly that, although there are thousands of other choices that provide the same result.

The simple need of shelter or transportation is very easy to meet. It’s only the location of the shelter that creates different issues (or the look of the vehicle)

[HLS]

Aren’t you aware of all the pent up demand from “sellers” who are just waiting to get even ???

What’s the sense of listing today when over 90% of what is listed isn’t selling, and many people think that their neighbor’s house that remains unsold is too cheap anyway, theirs “must be” worth more.

MLS listings don’t tell the whole story in a declining market.

It’s a pain to list a house for sale. It’s easier to stay for free and get foreclosed on someday. Why bother trying to sell when you owe $200K more than it’s worth, unless you have to.

In many areas, every single home bought in 2004,2005,2006 and 2007 the “owner” has paid more than the house is worth today.

I wouldn’t pay much attention to falling inventory numbers.
It may turn out to be a foolish indicator.
The available pool of buyers has probably dropped over 50%,
who cares that MLS inventory has dropped 4% or 8%.

There is still plenty to choose from, unless you only want a certain color house on a certain street.
As far as shelter, there is no shortage of houses.

The comparison of inventory #’s is COMPLETELY different when everybody HAS equity and is holding off selling because they want more. Contraction of inventory in an up market is much different.

Just like there is no shortage of cars that provide transportation either, but if you only want a 1965 pink Cadillac, you may have a tough time finding exactly that, although there are thousands of other choices that provide the same result.

The simple need of shelter or transportation is very easy to meet. It’s only the location of the shelter that creates different issues (or the look of the vehicle)

[HLS]

Court,
If your “source” of enlightenment is “watching financial news” your view will be quite jaded, and your comments will be inaccurate, which is exactly what the intent of the administration is; mislead the sheeple.

“B.S.” Bernanke is the same guy that said 15 months ago that the subprime mess wouldn’t spill over into the general economy. The same guy that won’t stand up and do the right thing.
He believes that having the FED pump dollars into the economy would have fixed the 1930’s depression, so he’s trying it with the depression that started in 2007.

Instead of teaching one generation a lesson, he has decided to reward the most financially irresponsible generation in the history of this country and it may be at the expense of the next 3 generations.

Henry Paulson is ex-CEO of Goldman Sachs. He replaced Robert Rubin as Treasury Secretary.
24 months ago:
“This shaky economic legacy also makes Paulson’s possible appointment more challenging and hence more potentially dangerous than Rubin’s. He must rally citizens into believing their individual economic condition is better than it is. Plus, he needs to convince international investors that the dollar isn’t in free-fall, despite the abundance of American debt. That’s a lot harder than convincing a board of peers as chairman to compensate your fellow senior executives hundreds of millions of dollars.”

http://www.thenation.com/doc/20060619/prins

Contrary to what the uninformed want you to believe, inflation really is higher than 4%.. It’s skewed because benefits for millions of people are tied to the index, (which has been changed twice in recent history) the system is welshing on their promise of cost of living adjustments.

Lending standards have not tightened to any ridiculous unreasonable standards. They are simply back to how they were prior to 5-6 years ago.

Today, even with a 580 credit score, (which is far from the best of 800+) one can qualify for a FNMA/FHA loan with 0-3% down.. you just need income to verify. It’s not so crazy and it’s not unreasonable.

For a FNMA loan under $417K, they will allow you to spend up to 60% of your GROSS monthly income on monthly payments that show on your credit report, including PITI.

That’s hardly “difficult even for the best credit scores”

I don’t recommend that people stretch to 60%.
With higher credit scores, the programs effectively become stated income as income verification may not be required, however the program isn’t offered as such.

Credit scores are more crucial than ever today and most people haven’t got a clue how to raise or maintain their scores. Sometimes with very little money, people can raise their credit scores 50 to 100 points and save tens of thousands of dollars over the life of a loan.

The above are all FACTS. Anything similar to what you alreday know by watching financial news ??

To say that “getting loans is very difficult even for the best credit scores” is ABSOLUTE IGNORANT POPPYCOCK.

Perhaps I’m enlightened through experience.

[HLS]

Court,
If your “source” of enlightenment is “watching financial news” your view will be quite jaded, and your comments will be inaccurate, which is exactly what the intent of the administration is; mislead the sheeple.

“B.S.” Bernanke is the same guy that said 15 months ago that the subprime mess wouldn’t spill over into the general economy. The same guy that won’t stand up and do the right thing.
He believes that having the FED pump dollars into the economy would have fixed the 1930’s depression, so he’s trying it with the depression that started in 2007.

Instead of teaching one generation a lesson, he has decided to reward the most financially irresponsible generation in the history of this country and it may be at the expense of the next 3 generations.

Henry Paulson is ex-CEO of Goldman Sachs. He replaced Robert Rubin as Treasury Secretary.
24 months ago:
“This shaky economic legacy also makes Paulson’s possible appointment more challenging and hence more potentially dangerous than Rubin’s. He must rally citizens into believing their individual economic condition is better than it is. Plus, he needs to convince international investors that the dollar isn’t in free-fall, despite the abundance of American debt. That’s a lot harder than convincing a board of peers as chairman to compensate your fellow senior executives hundreds of millions of dollars.”

http://www.thenation.com/doc/20060619/prins

Contrary to what the uninformed want you to believe, inflation really is higher than 4%.. It’s skewed because benefits for millions of people are tied to the index, (which has been changed twice in recent history) the system is welshing on their promise of cost of living adjustments.

Lending standards have not tightened to any ridiculous unreasonable standards. They are simply back to how they were prior to 5-6 years ago.

Today, even with a 580 credit score, (which is far from the best of 800+) one can qualify for a FNMA/FHA loan with 0-3% down.. you just need income to verify. It’s not so crazy and it’s not unreasonable.

For a FNMA loan under $417K, they will allow you to spend up to 60% of your GROSS monthly income on monthly payments that show on your credit report, including PITI.

That’s hardly “difficult even for the best credit scores”

I don’t recommend that people stretch to 60%.
With higher credit scores, the programs effectively become stated income as income verification may not be required, however the program isn’t offered as such.

Credit scores are more crucial than ever today and most people haven’t got a clue how to raise or maintain their scores. Sometimes with very little money, people can raise their credit scores 50 to 100 points and save tens of thousands of dollars over the life of a loan.

The above are all FACTS. Anything similar to what you alreday know by watching financial news ??

To say that “getting loans is very difficult even for the best credit scores” is ABSOLUTE IGNORANT POPPYCOCK.

Perhaps I’m enlightened through experience.

[HLS]

Court,
If your “source” of enlightenment is “watching financial news” your view will be quite jaded, and your comments will be inaccurate, which is exactly what the intent of the administration is; mislead the sheeple.

“B.S.” Bernanke is the same guy that said 15 months ago that the subprime mess wouldn’t spill over into the general economy. The same guy that won’t stand up and do the right thing.
He believes that having the FED pump dollars into the economy would have fixed the 1930’s depression, so he’s trying it with the depression that started in 2007.

Instead of teaching one generation a lesson, he has decided to reward the most financially irresponsible generation in the history of this country and it may be at the expense of the next 3 generations.

Henry Paulson is ex-CEO of Goldman Sachs. He replaced Robert Rubin as Treasury Secretary.
24 months ago:
“This shaky economic legacy also makes Paulson’s possible appointment more challenging and hence more potentially dangerous than Rubin’s. He must rally citizens into believing their individual economic condition is better than it is. Plus, he needs to convince international investors that the dollar isn’t in free-fall, despite the abundance of American debt. That’s a lot harder than convincing a board of peers as chairman to compensate your fellow senior executives hundreds of millions of dollars.”

http://www.thenation.com/doc/20060619/prins

Contrary to what the uninformed want you to believe, inflation really is higher than 4%.. It’s skewed because benefits for millions of people are tied to the index, (which has been changed twice in recent history) the system is welshing on their promise of cost of living adjustments.

Lending standards have not tightened to any ridiculous unreasonable standards. They are simply back to how they were prior to 5-6 years ago.

Today, even with a 580 credit score, (which is far from the best of 800+) one can qualify for a FNMA/FHA loan with 0-3% down.. you just need income to verify. It’s not so crazy and it’s not unreasonable.

For a FNMA loan under $417K, they will allow you to spend up to 60% of your GROSS monthly income on monthly payments that show on your credit report, including PITI.

That’s hardly “difficult even for the best credit scores”

I don’t recommend that people stretch to 60%.
With higher credit scores, the programs effectively become stated income as income verification may not be required, however the program isn’t offered as such.

Credit scores are more crucial than ever today and most people haven’t got a clue how to raise or maintain their scores. Sometimes with very little money, people can raise their credit scores 50 to 100 points and save tens of thousands of dollars over the life of a loan.

The above are all FACTS. Anything similar to what you alreday know by watching financial news ??

To say that “getting loans is very difficult even for the best credit scores” is ABSOLUTE IGNORANT POPPYCOCK.

Perhaps I’m enlightened through experience.

[HLS]

Court,
If your “source” of enlightenment is “watching financial news” your view will be quite jaded, and your comments will be inaccurate, which is exactly what the intent of the administration is; mislead the sheeple.

“B.S.” Bernanke is the same guy that said 15 months ago that the subprime mess wouldn’t spill over into the general economy. The same guy that won’t stand up and do the right thing.
He believes that having the FED pump dollars into the economy would have fixed the 1930’s depression, so he’s trying it with the depression that started in 2007.

Instead of teaching one generation a lesson, he has decided to reward the most financially irresponsible generation in the history of this country and it may be at the expense of the next 3 generations.

Henry Paulson is ex-CEO of Goldman Sachs. He replaced Robert Rubin as Treasury Secretary.
24 months ago:
“This shaky economic legacy also makes Paulson’s possible appointment more challenging and hence more potentially dangerous than Rubin’s. He must rally citizens into believing their individual economic condition is better than it is. Plus, he needs to convince international investors that the dollar isn’t in free-fall, despite the abundance of American debt. That’s a lot harder than convincing a board of peers as chairman to compensate your fellow senior executives hundreds of millions of dollars.”

http://www.thenation.com/doc/20060619/prins

Contrary to what the uninformed want you to believe, inflation really is higher than 4%.. It’s skewed because benefits for millions of people are tied to the index, (which has been changed twice in recent history) the system is welshing on their promise of cost of living adjustments.

Lending standards have not tightened to any ridiculous unreasonable standards. They are simply back to how they were prior to 5-6 years ago.

Today, even with a 580 credit score, (which is far from the best of 800+) one can qualify for a FNMA/FHA loan with 0-3% down.. you just need income to verify. It’s not so crazy and it’s not unreasonable.

For a FNMA loan under $417K, they will allow you to spend up to 60% of your GROSS monthly income on monthly payments that show on your credit report, including PITI.

That’s hardly “difficult even for the best credit scores”

I don’t recommend that people stretch to 60%.
With higher credit scores, the programs effectively become stated income as income verification may not be required, however the program isn’t offered as such.

Credit scores are more crucial than ever today and most people haven’t got a clue how to raise or maintain their scores. Sometimes with very little money, people can raise their credit scores 50 to 100 points and save tens of thousands of dollars over the life of a loan.

The above are all FACTS. Anything similar to what you alreday know by watching financial news ??

To say that “getting loans is very difficult even for the best credit scores” is ABSOLUTE IGNORANT POPPYCOCK.

Perhaps I’m enlightened through experience.

[HLS]

Court,
If your “source” of enlightenment is “watching financial news” your view will be quite jaded, and your comments will be inaccurate, which is exactly what the intent of the administration is; mislead the sheeple.

“B.S.” Bernanke is the same guy that said 15 months ago that the subprime mess wouldn’t spill over into the general economy. The same guy that won’t stand up and do the right thing.
He believes that having the FED pump dollars into the economy would have fixed the 1930’s depression, so he’s trying it with the depression that started in 2007.

Instead of teaching one generation a lesson, he has decided to reward the most financially irresponsible generation in the history of this country and it may be at the expense of the next 3 generations.

Henry Paulson is ex-CEO of Goldman Sachs. He replaced Robert Rubin as Treasury Secretary.
24 months ago:
“This shaky economic legacy also makes Paulson’s possible appointment more challenging and hence more potentially dangerous than Rubin’s. He must rally citizens into believing their individual economic condition is better than it is. Plus, he needs to convince international investors that the dollar isn’t in free-fall, despite the abundance of American debt. That’s a lot harder than convincing a board of peers as chairman to compensate your fellow senior executives hundreds of millions of dollars.”

http://www.thenation.com/doc/20060619/prins

Contrary to what the uninformed want you to believe, inflation really is higher than 4%.. It’s skewed because benefits for millions of people are tied to the index, (which has been changed twice in recent history) the system is welshing on their promise of cost of living adjustments.

Lending standards have not tightened to any ridiculous unreasonable standards. They are simply back to how they were prior to 5-6 years ago.

Today, even with a 580 credit score, (which is far from the best of 800+) one can qualify for a FNMA/FHA loan with 0-3% down.. you just need income to verify. It’s not so crazy and it’s not unreasonable.

For a FNMA loan under $417K, they will allow you to spend up to 60% of your GROSS monthly income on monthly payments that show on your credit report, including PITI.

That’s hardly “difficult even for the best credit scores”

I don’t recommend that people stretch to 60%.
With higher credit scores, the programs effectively become stated income as income verification may not be required, however the program isn’t offered as such.

Credit scores are more crucial than ever today and most people haven’t got a clue how to raise or maintain their scores. Sometimes with very little money, people can raise their credit scores 50 to 100 points and save tens of thousands of dollars over the life of a loan.

The above are all FACTS. Anything similar to what you alreday know by watching financial news ??

To say that “getting loans is very difficult even for the best credit scores” is ABSOLUTE IGNORANT POPPYCOCK.

Perhaps I’m enlightened through experience.

[HLS]

YA…funny how things work..

There are millions of people who bought a house in 2004, 2005, 2006 and 2007 who paid more than the house is worth today and have negative equity, (or just no equity if they are lucky)

Funny how things work. Millions aren’t laughing though.

Don’t forget that when comparing income to housing, you pay for housing with after tax dollars. Saving $200K net is almost like saving $300K of gross income.

(Paying $4+ after tax for a gallon of gas requires almost $6 in gross income)

You are an excellent example to all those who “bought” a house because renting was throwing money away.

PS: Can you believe some of the skanks that have shown up thinking that they would see some action ?

[HLS]

YA…funny how things work..

There are millions of people who bought a house in 2004, 2005, 2006 and 2007 who paid more than the house is worth today and have negative equity, (or just no equity if they are lucky)

Funny how things work. Millions aren’t laughing though.

Don’t forget that when comparing income to housing, you pay for housing with after tax dollars. Saving $200K net is almost like saving $300K of gross income.

(Paying $4+ after tax for a gallon of gas requires almost $6 in gross income)

You are an excellent example to all those who “bought” a house because renting was throwing money away.

PS: Can you believe some of the skanks that have shown up thinking that they would see some action ?

[HLS]

YA…funny how things work..

There are millions of people who bought a house in 2004, 2005, 2006 and 2007 who paid more than the house is worth today and have negative equity, (or just no equity if they are lucky)

Funny how things work. Millions aren’t laughing though.

Don’t forget that when comparing income to housing, you pay for housing with after tax dollars. Saving $200K net is almost like saving $300K of gross income.

(Paying $4+ after tax for a gallon of gas requires almost $6 in gross income)

You are an excellent example to all those who “bought” a house because renting was throwing money away.

PS: Can you believe some of the skanks that have shown up thinking that they would see some action ?

[HLS]

YA…funny how things work..

There are millions of people who bought a house in 2004, 2005, 2006 and 2007 who paid more than the house is worth today and have negative equity, (or just no equity if they are lucky)

Funny how things work. Millions aren’t laughing though.

Don’t forget that when comparing income to housing, you pay for housing with after tax dollars. Saving $200K net is almost like saving $300K of gross income.

(Paying $4+ after tax for a gallon of gas requires almost $6 in gross income)

You are an excellent example to all those who “bought” a house because renting was throwing money away.

PS: Can you believe some of the skanks that have shown up thinking that they would see some action ?

[HLS]

YA…funny how things work..

There are millions of people who bought a house in 2004, 2005, 2006 and 2007 who paid more than the house is worth today and have negative equity, (or just no equity if they are lucky)

Funny how things work. Millions aren’t laughing though.

Don’t forget that when comparing income to housing, you pay for housing with after tax dollars. Saving $200K net is almost like saving $300K of gross income.

(Paying $4+ after tax for a gallon of gas requires almost $6 in gross income)

You are an excellent example to all those who “bought” a house because renting was throwing money away.

PS: Can you believe some of the skanks that have shown up thinking that they would see some action ?

[HLS]

Job Losses hit harder by the mid 90’s and there were more FC’s by then because of the combo of some being underwater AND others just couldn’t afford to hang on…

For the comments like:
“getting loans is very difficult even for the best credit scores” That’s ABSOLUTE IGNORANT POPPYCOCK.

A decent credit score is entree to a world of easy lending.
If you qualify, there are billions of dollars available, with 0%-3% down still available, and not only to the “best” credit scores.
Stated income loans are still available too.

[HLS]

Job Losses hit harder by the mid 90’s and there were more FC’s by then because of the combo of some being underwater AND others just couldn’t afford to hang on…

For the comments like:
“getting loans is very difficult even for the best credit scores” That’s ABSOLUTE IGNORANT POPPYCOCK.

A decent credit score is entree to a world of easy lending.
If you qualify, there are billions of dollars available, with 0%-3% down still available, and not only to the “best” credit scores.
Stated income loans are still available too.

[HLS]

Job Losses hit harder by the mid 90’s and there were more FC’s by then because of the combo of some being underwater AND others just couldn’t afford to hang on…

For the comments like:
“getting loans is very difficult even for the best credit scores” That’s ABSOLUTE IGNORANT POPPYCOCK.

A decent credit score is entree to a world of easy lending.
If you qualify, there are billions of dollars available, with 0%-3% down still available, and not only to the “best” credit scores.
Stated income loans are still available too.

[Author]

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