[j]

Yes, RE “professionals” do not have a clue. I know a lady that did sub-prime and Alt-A loans for a living and now does some kind of mortgage rescue loans. She thinks the bubble is all the banks’ fault, but she is not at fault at all? All the loans she did are crap, but she did not contribute to this mess?

I guess that is what you get when you make a profession that does not require a college degree or a professional test and guidelines with teeth. Easy money for anybody that wants it; not those that are qualified.

The best explanation for the current wave of foreclosures by RE “professionals” is that many were not only dealers but also users.

[j]

That is the major advantage of home ownership. The cost of “rent” is fixed, or that is how it was for our grandparents.

My uncle once said his father brings in $1200 a month compared to his $3500 (Yes this was years ago), but his father is rich and he is poor. At the time my grandfather had a paid off home, three paid off cars, full medical benefits, and cash to spare.

My grandfather stayed in his house and paid it off, but today people move up every 7 years and refinance all the time. People no longer believe in paying off homes; they believe they should cash out there equity to buy Chinese products and vacations.

[j]

That is the major advantage of home ownership. The cost of “rent” is fixed, or that is how it was for our grandparents.

My uncle once said his father brings in $1200 a month compared to his $3500 (Yes this was years ago), but his father is rich and he is poor. At the time my grandfather had a paid off home, three paid off cars, full medical benefits, and cash to spare.

My grandfather stayed in his house and paid it off, but today people move up every 7 years and refinance all the time. People no longer believe in paying off homes; they believe they should cash out there equity to buy Chinese products and vacations.

[j]

That is the major advantage of home ownership. The cost of “rent” is fixed, or that is how it was for our grandparents.

My uncle once said his father brings in $1200 a month compared to his $3500 (Yes this was years ago), but his father is rich and he is poor. At the time my grandfather had a paid off home, three paid off cars, full medical benefits, and cash to spare.

My grandfather stayed in his house and paid it off, but today people move up every 7 years and refinance all the time. People no longer believe in paying off homes; they believe they should cash out there equity to buy Chinese products and vacations.

[j]

That is the major advantage of home ownership. The cost of “rent” is fixed, or that is how it was for our grandparents.

My uncle once said his father brings in $1200 a month compared to his $3500 (Yes this was years ago), but his father is rich and he is poor. At the time my grandfather had a paid off home, three paid off cars, full medical benefits, and cash to spare.

My grandfather stayed in his house and paid it off, but today people move up every 7 years and refinance all the time. People no longer believe in paying off homes; they believe they should cash out there equity to buy Chinese products and vacations.

[j]

That is the major advantage of home ownership. The cost of “rent” is fixed, or that is how it was for our grandparents.

My uncle once said his father brings in $1200 a month compared to his $3500 (Yes this was years ago), but his father is rich and he is poor. At the time my grandfather had a paid off home, three paid off cars, full medical benefits, and cash to spare.

My grandfather stayed in his house and paid it off, but today people move up every 7 years and refinance all the time. People no longer believe in paying off homes; they believe they should cash out there equity to buy Chinese products and vacations.

[j]

Yes, foreclosures will go down, but at what cost?

When foreclosures go down, home prices will remain artificially high, so young people will leave San Diego. This was happening before costs started to go down. Look at the school enrollment over the last 7 years. If San Diego loses its families, because home prices are too high there will be a very negative impact down the road.

Home prices in San Diego are too high and must come down to a realistic home price to wage ratio.

[j]

Yes, foreclosures will go down, but at what cost?

When foreclosures go down, home prices will remain artificially high, so young people will leave San Diego. This was happening before costs started to go down. Look at the school enrollment over the last 7 years. If San Diego loses its families, because home prices are too high there will be a very negative impact down the road.

Home prices in San Diego are too high and must come down to a realistic home price to wage ratio.

[j]

Yes, foreclosures will go down, but at what cost?

When foreclosures go down, home prices will remain artificially high, so young people will leave San Diego. This was happening before costs started to go down. Look at the school enrollment over the last 7 years. If San Diego loses its families, because home prices are too high there will be a very negative impact down the road.

Home prices in San Diego are too high and must come down to a realistic home price to wage ratio.

[j]

Yes, foreclosures will go down, but at what cost?

When foreclosures go down, home prices will remain artificially high, so young people will leave San Diego. This was happening before costs started to go down. Look at the school enrollment over the last 7 years. If San Diego loses its families, because home prices are too high there will be a very negative impact down the road.

Home prices in San Diego are too high and must come down to a realistic home price to wage ratio.

[j]

Yes, foreclosures will go down, but at what cost?

When foreclosures go down, home prices will remain artificially high, so young people will leave San Diego. This was happening before costs started to go down. Look at the school enrollment over the last 7 years. If San Diego loses its families, because home prices are too high there will be a very negative impact down the road.

Home prices in San Diego are too high and must come down to a realistic home price to wage ratio.

[j]

Yes, Congress extended the higher limit for higher priced markets like San Diego.

It is funny that they waited until higher limits really are not needed by the average buyer. For $400,000 you can get a decent home in many parts of the county. Add 20% making it 480,000, and you can get a good house, not a McMansion, but FHA is to help normal to lower income people, right?

[j]

Yes, Congress extended the higher limit for higher priced markets like San Diego.

It is funny that they waited until higher limits really are not needed by the average buyer. For $400,000 you can get a decent home in many parts of the county. Add 20% making it 480,000, and you can get a good house, not a McMansion, but FHA is to help normal to lower income people, right?

[j]

Yes, Congress extended the higher limit for higher priced markets like San Diego.

It is funny that they waited until higher limits really are not needed by the average buyer. For $400,000 you can get a decent home in many parts of the county. Add 20% making it 480,000, and you can get a good house, not a McMansion, but FHA is to help normal to lower income people, right?

[j]

Yes, Congress extended the higher limit for higher priced markets like San Diego.

It is funny that they waited until higher limits really are not needed by the average buyer. For $400,000 you can get a decent home in many parts of the county. Add 20% making it 480,000, and you can get a good house, not a McMansion, but FHA is to help normal to lower income people, right?

[Author]

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