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“I went through this as a homeowner in the 1990’s and I am not worried.”

Wrong. Unless you lived through the Great Depression, you’ve never lived through such rampant real estate speculation fed by non-existent lending guidelines.

“Anybody with a little common sense who can make a decent financial decision in regards to purchasing housing should not be worried either.”

Great…find me one, please. I think you’d have better luck finding Bigfoot.

Signed,
Chicken Little #92

…oh yeah, by the way, things are turning out to be just a bit more gloomy than the bird whistling zip-a-dee-doo-dah would like to have you believe, don’tcha think. Good luck with all that.

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Bugs-that was too funny. Bugs-that was too funny. Bugs-that was too funny. Bugs-that was too funny. Bugs-that was too funny. Bugs-that was too funny. Bugs-that was too funny.

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“If you have a kid, they aren’t very old. Apples don’t fall very far from the tree, and I can’t always help my kids with their homework in math.”

Based upon what I have read, I’d say you might want to consider getting the little prodigy an English tutor, too. 😉

[lendingbubblecontinues]

This has got to be one of the funniest threads I’ve ever seen!

Which department at the district handles all the “genius certification filings”;)? Or, perhaps, the file it wound up in was the “circular file”.

Trust me…I am a certified “near-genius” and being a genius ain’t what it used to be. There was a genius scoring bubble in the last few years.

[lendingbubblecontinues]

Ever see those ads for high-priced jewelry stores listing their worldwide locations?

Can you imagine this one?:

New York, Paris, Tokyo, Jerusalem, Santee

😉

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my position has been out for a long time

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I put the local realtors’ monthly calendars/newsletters/etc. the same place I put all the little tiny plastic bags with two pieces of gravel and some undocumented maid’s business card:

The garbage can

Don’t do it guys and gals (go door to door, that is)…it’s already humiliating enough isn’t it? Being wrong that there was “no bubble”? Being wrong that your client would “simply be able to re-finance before the mortgage re-set”?

How embarrassing it must be for you!?!?! Stoopid f*&%ers…who knew it was actually difficult to earn six-figures (let alone 5 for many of you;) Good night and “happy knocking” OR better yet…”good luck with all that”;)!

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desmond….that is too funny!!

It would be funny to take it to another level…use zabasearch to find the addresses of the prominent local realtors, create a flyer that shows distressed properties and foreclosures within a half-mile to 1-mile radius of where they live, and then go knocking on their doors, introducing yourself as someone who can help them if they or anyone they know are in financial trouble…imagine the shock and horror on their faces!

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I’ve had mortgage brokers come-a-knockin too! Sorry, PB…we seem to have touched a nerve…get over it!

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just tell them “no, but I hear Carls’ Jr. is hiring”;)

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true

who knows? perhaps we are already a province of China and don’t know it yet?

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sdr-

I am sure you are right with regard to efforts from government and industry. There are, however, more holes in the dike than there are thumbs to plug them, I believe.

Sadly, the days of the U.S. enjoying higher living standards than the majority of the rest of the world are numbered.

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PadreBrian–

I agree. Of course, there are people out there making $180K who would qualify….they just won’t be buying “starter” homes for $729K in cookie cutter neighborhoods like 4ShittingTheirPants Ranch.

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llj-

I don’t disagree with you about the pissing away of billions on the war.

If there are enough households in CA that meet my above posted criteria for a $725,000 FHA loan to help hold the line on prices…then fuck me for holding out and renting these past few years;)

If not, then, look out below California….as what is happening in Florida and the “Inland Empire” (give me a break) will soon spread like wildfire to a posh south OC or San Diego County neighborhood near you.

I, of course, am expecting the latter.

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Phew!!

Fortunately for all those households earning $180,000 a year, willing and able to document their income, and only paying out 40% of their gross income on PITI to buy a piece of shit $725,000 house….the Federal government has come to your rescue!!

Now…if we can just find a household that looks like that….

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