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kicksavedave
ParticipantI have a question for the economic gurus among us.
Recently the Fed lowered its rate by .50, and 30 year fixed mortgage rates shot up immediately.
So if the Fed raises its rates to try and control inflation, why would we not then expect to see lower mortgage rates as a result?
Being about 3 to 4 months from needing to lock in a loan, this is important to me, but I don’t have that much understanding of how these factors interact.
ParticipantI want to live in San Diego.
I want to drive a Lamborgini.
I want to ride a space ship to the Moon.
I also want to have a threesome with Elle McPherson and Jennifer Anniston.
I can’t afford to do any of these things. Mick Jagger said it best “you can’t always get what you want”.
September 10, 2007 at 1:25 PM in reply to: Rumor – is CW reselling properties back to borrowers as short sales? #84070ParticipantIf the FBs could pull this magnificient stunt off a few times over, they could eventually buy the house and own it outright, for free. What a country!
Sounds like lipstick on da pig to me. Of ALL the people on the planet to give a massive discounted house to, it should NOT be the one’s who originally stopped paying for it in the first place.
Participant“Not true! I read about some nice homes at affordable prices in northern suburbs of Indianapolis (Hamilton county). Around $100/sq ft SFRs (my idea of fair price for a nicer neighborhood – not ghetto stuff). Same with many nicer places in Ohio and Atlanta too. For cash buyers, there are many places where you can live nicely for $100/sqft.”
My wife and I recently left San Diego for the Denver area. Yesterday we finalized a contract on a brand new construction 3450 sq ft SFR house by Centex, who is a solid, reputable affordable builder. Add in the unfinished 1500 sq ft basement and it’s ~5000 sq ft total. It has a beautiful unobstructed view of the Rockies, and is 30 minutes from downtown Denver, and 20 minutes from Boulder.
The price after we added in every single option they had? $295K, or $85/sq ft. Add in the space in the unfinished basement and the price is $59/sq ft, for a nice brand new house in a good suburb of a great city. So there are definitely affordable houses out there, just not in SoCal or San Diego.
Edit: The Buy vs Rent calculation came out for a buy here. We have a super cheap rental at $1400, the buy after taxes will be right around $1400 ($2100 total PITI minus ~$700 tax break). Other comparable rentals are going for $1600 to $2000.
ParticipantDenver down only 1%, (despite massive foreclosures) Charlotte and Seattle up ~7 and ~9 % respectively. This is somewhat confirming what I thought – there is a mass exodus from SoCal and Florida, to more affordable areas like Seattle, Denver, Charlotte, Atlanta, etc. My wife and I are one of a half dozen couples we’ve met in the last three months, who left Cali for Colorado for housing based on sane fundamentals. We’ll be happy to come back if things ever turn back to normal in SoCal. Looks like we’re about 8% of the way to a target of 50%, which would make things about normal, based on income.
ParticipantDenver down only 1%, (despite massive foreclosures) Charlotte and Seattle up ~7 and ~9 % respectively. This is somewhat confirming what I thought – there is a mass exodus from SoCal and Florida, to more affordable areas like Seattle, Denver, Charlotte, Atlanta, etc. My wife and I are one of a half dozen couples we’ve met in the last three months, who left Cali for Colorado for housing based on sane fundamentals. We’ll be happy to come back if things ever turn back to normal in SoCal. Looks like we’re about 8% of the way to a target of 50%, which would make things about normal, based on income.
ParticipantDenver down only 1%, (despite massive foreclosures) Charlotte and Seattle up ~7 and ~9 % respectively. This is somewhat confirming what I thought – there is a mass exodus from SoCal and Florida, to more affordable areas like Seattle, Denver, Charlotte, Atlanta, etc. My wife and I are one of a half dozen couples we’ve met in the last three months, who left Cali for Colorado for housing based on sane fundamentals. We’ll be happy to come back if things ever turn back to normal in SoCal. Looks like we’re about 8% of the way to a target of 50%, which would make things about normal, based on income.
ParticipantOC Scam I’m curious how your legal contract was broken? You agreed to pay rent, in return you were allowed to live in this house. You stopped paying rent, but continued to live in the house. To me it seems YOU broke the contract, not the previous landlord. As you said, until a court discharges this as a forclosure, the previous landlord is still the owner of record. But you’re not paying the rent you promised and signed your name to. Why not?
ParticipantOC Scam I’m curious how your legal contract was broken? You agreed to pay rent, in return you were allowed to live in this house. You stopped paying rent, but continued to live in the house. To me it seems YOU broke the contract, not the previous landlord. As you said, until a court discharges this as a forclosure, the previous landlord is still the owner of record. But you’re not paying the rent you promised and signed your name to. Why not?
ParticipantOC Scam I’m curious how your legal contract was broken? You agreed to pay rent, in return you were allowed to live in this house. You stopped paying rent, but continued to live in the house. To me it seems YOU broke the contract, not the previous landlord. As you said, until a court discharges this as a forclosure, the previous landlord is still the owner of record. But you’re not paying the rent you promised and signed your name to. Why not?
ParticipantHey wait, isn’t the number of people who sold at the top, absolutely identical to the number of people who bought at the top??? Or were there some sales without a buyer?
Some people are looking for a government handout because they gambled and lost, perhaps even un-knowingly. Some others are looking for natural forces to be allowed to work, because they didn’t gamble, and lost. A whole lotta people gambled and won. Most of them don’t post here, it seems.
ParticipantHey wait, isn’t the number of people who sold at the top, absolutely identical to the number of people who bought at the top??? Or were there some sales without a buyer?
Some people are looking for a government handout because they gambled and lost, perhaps even un-knowingly. Some others are looking for natural forces to be allowed to work, because they didn’t gamble, and lost. A whole lotta people gambled and won. Most of them don’t post here, it seems.
ParticipantHey wait, isn’t the number of people who sold at the top, absolutely identical to the number of people who bought at the top??? Or were there some sales without a buyer?
Some people are looking for a government handout because they gambled and lost, perhaps even un-knowingly. Some others are looking for natural forces to be allowed to work, because they didn’t gamble, and lost. A whole lotta people gambled and won. Most of them don’t post here, it seems.
ParticipantI don’t know if they are trying to blame everyone else. At least they are getting a second, and maybe third job, and say they want to keep the house. They made their bed, now they are lying in it, good for them.
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