Forum Replies Created
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AuthorPosts
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LuckyInOC
ParticipantDon’t try to do too much at one time – first things first. If it is R&R (Remove & Replace), the following schedule should work fine.It may need some tweaks for special conditions.
Remove all flooring, cabinets, etc you will be replacing: You can do this yourself with rental tools, but buy a wheel barrow, sell it later. Harbor Freight is a good source of cheap disposable tools. Put demo items in your garage as you go. Rent a U-haul truck and a friend to take demo to local disposal facility. Much cheaper then a large Trash bin ($300+). Time: Yourself – 1 wk, Contractor – 2-3 days
Design Kitchen Layout – Order Kitchen Cabinets. If bathrooms require custom cabinets, order these as well.
Relocated walls, electrical, water, gas as needed: Handyman, if minor < $750; General Contractor, if major. Replace the windows: You don’t want anything inside if you are not there. Time: Window Contractor 2-4 days Scrap & paint the ceilings: ’70s houses may have asbestos…verify…Use asbestos contractor, if necessary. If low ceilings (<9’) you could scrap yourself. Painting contractors may scrap, plaster, and paint your ceilings as well. Popcorn on high Cathedral ceilings, leave it…not worth the cost. Plus the popcorn does work acoustically!!! This could be done at the same time as the windows. Time: Painting Contractor 2-3 days (with no asbestos). For asbestos, call for quotes. Paint the Interior ( & Exterior): Bathrooms First – to install cabinets & tile early. Living Room Second – to store appliances & kitchen cabinets. Kitchen last – may want to relocate utilities prior to painting. Time: Painting Contractor 2-3 days Buy all your major materials and stage them in the living room or garage: Tile and grout for everywhere. Kitchen sink, dishwasher, range, stove, oven, hood, faucet, hardware. It will take 6-8 wks to get cabinets from HD or Lowes (Kraftmaid). Bathroom Cabinets, sinks, toilets, counter tops, hardware. Time: Yourself 2-3 weeks. Store items in order of use – prevents double handling and damage. Install Bathroom cabinets & countertops: You will be waiting for kitchen cabinets. You can start tile in bathrooms or wait to do all at once. The tile installer may install the toilets for you. Install Kitchen cabinets, etc.: You must be there for cabinet installation – take time off. You will be the Architect / Designer and must make snap decisions. Dry fit all base cabinets and check level/square before any installation. This is key for good countertop installation. Verify all connection locations in walls: Gas, water, plumbing. Gas valves for Ranges are rarely properly located and have very tight dimensions. Choose Range to purchase prior to installation. Best is to have range delivered prior to cabinet installation. For the best job, hire a finish carpenter or cabinet installer, not a General Contractor. Time: 2-3 days Install Tile: Bathrooms first, Kitchen Last after cabinet installation. Kitchen could be done when waiting for Granite countertop (template & fab). Install Counter Top, Sink with plumbing, Dishwasher, Range, Stove, Oven, Hood, hardware. Install Carpets: Carpet in bedrooms should be inexpensive and easy to do. Should be no issues. Pay bills... I am professional scheduler by trade (Large Mech. Contractor, Large Energy Contractor, GC for Stadium-style Theatres, Large Aerospace Contractor). I use MS Project daily, shouldn't be necessary on your project. If you never used it, you may be spending more time learning MSP then managing your project. I just completed a $30k Kitchen Remodel in 3 weeks in Nov-09. Gutted kitchen to walls, removed ceiling, removed and resupported structural wall, new Kraftmaid cabinets with Granite Counter and full granite backsplash. We purchased and received all major materials and appliances prior to contractor starting. I did the kitchen design myself with some help from the Lowes designer. More validation of design, than concept. GC just completed kitchen remodel of an exact same model in our track. Liked their work and did some design changes based that kitchen outcome. When we purchased our home 5 years ago, we did just the painting and flooring replacement, holding off on the kitchen. Tile downstairs, except wood living room. Stairs, Upstairs hall, and Bonus room - Wood; Bedrooms - carpet; Upstairs Bathrooms - Tile. 27 Windows replaced 2 years ago by a Window Contractor and took 3 days. Not a remodeling pro, but have the tools for understanding logical progression. Lucky In OC
ParticipantDon’t try to do too much at one time – first things first. If it is R&R (Remove & Replace), the following schedule should work fine.It may need some tweaks for special conditions.
Remove all flooring, cabinets, etc you will be replacing: You can do this yourself with rental tools, but buy a wheel barrow, sell it later. Harbor Freight is a good source of cheap disposable tools. Put demo items in your garage as you go. Rent a U-haul truck and a friend to take demo to local disposal facility. Much cheaper then a large Trash bin ($300+). Time: Yourself – 1 wk, Contractor – 2-3 days
Design Kitchen Layout – Order Kitchen Cabinets. If bathrooms require custom cabinets, order these as well.
Relocated walls, electrical, water, gas as needed: Handyman, if minor < $750; General Contractor, if major. Replace the windows: You don’t want anything inside if you are not there. Time: Window Contractor 2-4 days Scrap & paint the ceilings: ’70s houses may have asbestos…verify…Use asbestos contractor, if necessary. If low ceilings (<9’) you could scrap yourself. Painting contractors may scrap, plaster, and paint your ceilings as well. Popcorn on high Cathedral ceilings, leave it…not worth the cost. Plus the popcorn does work acoustically!!! This could be done at the same time as the windows. Time: Painting Contractor 2-3 days (with no asbestos). For asbestos, call for quotes. Paint the Interior ( & Exterior): Bathrooms First – to install cabinets & tile early. Living Room Second – to store appliances & kitchen cabinets. Kitchen last – may want to relocate utilities prior to painting. Time: Painting Contractor 2-3 days Buy all your major materials and stage them in the living room or garage: Tile and grout for everywhere. Kitchen sink, dishwasher, range, stove, oven, hood, faucet, hardware. It will take 6-8 wks to get cabinets from HD or Lowes (Kraftmaid). Bathroom Cabinets, sinks, toilets, counter tops, hardware. Time: Yourself 2-3 weeks. Store items in order of use – prevents double handling and damage. Install Bathroom cabinets & countertops: You will be waiting for kitchen cabinets. You can start tile in bathrooms or wait to do all at once. The tile installer may install the toilets for you. Install Kitchen cabinets, etc.: You must be there for cabinet installation – take time off. You will be the Architect / Designer and must make snap decisions. Dry fit all base cabinets and check level/square before any installation. This is key for good countertop installation. Verify all connection locations in walls: Gas, water, plumbing. Gas valves for Ranges are rarely properly located and have very tight dimensions. Choose Range to purchase prior to installation. Best is to have range delivered prior to cabinet installation. For the best job, hire a finish carpenter or cabinet installer, not a General Contractor. Time: 2-3 days Install Tile: Bathrooms first, Kitchen Last after cabinet installation. Kitchen could be done when waiting for Granite countertop (template & fab). Install Counter Top, Sink with plumbing, Dishwasher, Range, Stove, Oven, Hood, hardware. Install Carpets: Carpet in bedrooms should be inexpensive and easy to do. Should be no issues. Pay bills... I am professional scheduler by trade (Large Mech. Contractor, Large Energy Contractor, GC for Stadium-style Theatres, Large Aerospace Contractor). I use MS Project daily, shouldn't be necessary on your project. If you never used it, you may be spending more time learning MSP then managing your project. I just completed a $30k Kitchen Remodel in 3 weeks in Nov-09. Gutted kitchen to walls, removed ceiling, removed and resupported structural wall, new Kraftmaid cabinets with Granite Counter and full granite backsplash. We purchased and received all major materials and appliances prior to contractor starting. I did the kitchen design myself with some help from the Lowes designer. More validation of design, than concept. GC just completed kitchen remodel of an exact same model in our track. Liked their work and did some design changes based that kitchen outcome. When we purchased our home 5 years ago, we did just the painting and flooring replacement, holding off on the kitchen. Tile downstairs, except wood living room. Stairs, Upstairs hall, and Bonus room - Wood; Bedrooms - carpet; Upstairs Bathrooms - Tile. 27 Windows replaced 2 years ago by a Window Contractor and took 3 days. Not a remodeling pro, but have the tools for understanding logical progression. Lucky In OC
ParticipantDon’t try to do too much at one time – first things first. If it is R&R (Remove & Replace), the following schedule should work fine.It may need some tweaks for special conditions.
Remove all flooring, cabinets, etc you will be replacing: You can do this yourself with rental tools, but buy a wheel barrow, sell it later. Harbor Freight is a good source of cheap disposable tools. Put demo items in your garage as you go. Rent a U-haul truck and a friend to take demo to local disposal facility. Much cheaper then a large Trash bin ($300+). Time: Yourself – 1 wk, Contractor – 2-3 days
Design Kitchen Layout – Order Kitchen Cabinets. If bathrooms require custom cabinets, order these as well.
Relocated walls, electrical, water, gas as needed: Handyman, if minor < $750; General Contractor, if major. Replace the windows: You don’t want anything inside if you are not there. Time: Window Contractor 2-4 days Scrap & paint the ceilings: ’70s houses may have asbestos…verify…Use asbestos contractor, if necessary. If low ceilings (<9’) you could scrap yourself. Painting contractors may scrap, plaster, and paint your ceilings as well. Popcorn on high Cathedral ceilings, leave it…not worth the cost. Plus the popcorn does work acoustically!!! This could be done at the same time as the windows. Time: Painting Contractor 2-3 days (with no asbestos). For asbestos, call for quotes. Paint the Interior ( & Exterior): Bathrooms First – to install cabinets & tile early. Living Room Second – to store appliances & kitchen cabinets. Kitchen last – may want to relocate utilities prior to painting. Time: Painting Contractor 2-3 days Buy all your major materials and stage them in the living room or garage: Tile and grout for everywhere. Kitchen sink, dishwasher, range, stove, oven, hood, faucet, hardware. It will take 6-8 wks to get cabinets from HD or Lowes (Kraftmaid). Bathroom Cabinets, sinks, toilets, counter tops, hardware. Time: Yourself 2-3 weeks. Store items in order of use – prevents double handling and damage. Install Bathroom cabinets & countertops: You will be waiting for kitchen cabinets. You can start tile in bathrooms or wait to do all at once. The tile installer may install the toilets for you. Install Kitchen cabinets, etc.: You must be there for cabinet installation – take time off. You will be the Architect / Designer and must make snap decisions. Dry fit all base cabinets and check level/square before any installation. This is key for good countertop installation. Verify all connection locations in walls: Gas, water, plumbing. Gas valves for Ranges are rarely properly located and have very tight dimensions. Choose Range to purchase prior to installation. Best is to have range delivered prior to cabinet installation. For the best job, hire a finish carpenter or cabinet installer, not a General Contractor. Time: 2-3 days Install Tile: Bathrooms first, Kitchen Last after cabinet installation. Kitchen could be done when waiting for Granite countertop (template & fab). Install Counter Top, Sink with plumbing, Dishwasher, Range, Stove, Oven, Hood, hardware. Install Carpets: Carpet in bedrooms should be inexpensive and easy to do. Should be no issues. Pay bills... I am professional scheduler by trade (Large Mech. Contractor, Large Energy Contractor, GC for Stadium-style Theatres, Large Aerospace Contractor). I use MS Project daily, shouldn't be necessary on your project. If you never used it, you may be spending more time learning MSP then managing your project. I just completed a $30k Kitchen Remodel in 3 weeks in Nov-09. Gutted kitchen to walls, removed ceiling, removed and resupported structural wall, new Kraftmaid cabinets with Granite Counter and full granite backsplash. We purchased and received all major materials and appliances prior to contractor starting. I did the kitchen design myself with some help from the Lowes designer. More validation of design, than concept. GC just completed kitchen remodel of an exact same model in our track. Liked their work and did some design changes based that kitchen outcome. When we purchased our home 5 years ago, we did just the painting and flooring replacement, holding off on the kitchen. Tile downstairs, except wood living room. Stairs, Upstairs hall, and Bonus room - Wood; Bedrooms - carpet; Upstairs Bathrooms - Tile. 27 Windows replaced 2 years ago by a Window Contractor and took 3 days. Not a remodeling pro, but have the tools for understanding logical progression. Lucky In OC
ParticipantDon’t try to do too much at one time – first things first. If it is R&R (Remove & Replace), the following schedule should work fine.It may need some tweaks for special conditions.
Remove all flooring, cabinets, etc you will be replacing: You can do this yourself with rental tools, but buy a wheel barrow, sell it later. Harbor Freight is a good source of cheap disposable tools. Put demo items in your garage as you go. Rent a U-haul truck and a friend to take demo to local disposal facility. Much cheaper then a large Trash bin ($300+). Time: Yourself – 1 wk, Contractor – 2-3 days
Design Kitchen Layout – Order Kitchen Cabinets. If bathrooms require custom cabinets, order these as well.
Relocated walls, electrical, water, gas as needed: Handyman, if minor < $750; General Contractor, if major. Replace the windows: You don’t want anything inside if you are not there. Time: Window Contractor 2-4 days Scrap & paint the ceilings: ’70s houses may have asbestos…verify…Use asbestos contractor, if necessary. If low ceilings (<9’) you could scrap yourself. Painting contractors may scrap, plaster, and paint your ceilings as well. Popcorn on high Cathedral ceilings, leave it…not worth the cost. Plus the popcorn does work acoustically!!! This could be done at the same time as the windows. Time: Painting Contractor 2-3 days (with no asbestos). For asbestos, call for quotes. Paint the Interior ( & Exterior): Bathrooms First – to install cabinets & tile early. Living Room Second – to store appliances & kitchen cabinets. Kitchen last – may want to relocate utilities prior to painting. Time: Painting Contractor 2-3 days Buy all your major materials and stage them in the living room or garage: Tile and grout for everywhere. Kitchen sink, dishwasher, range, stove, oven, hood, faucet, hardware. It will take 6-8 wks to get cabinets from HD or Lowes (Kraftmaid). Bathroom Cabinets, sinks, toilets, counter tops, hardware. Time: Yourself 2-3 weeks. Store items in order of use – prevents double handling and damage. Install Bathroom cabinets & countertops: You will be waiting for kitchen cabinets. You can start tile in bathrooms or wait to do all at once. The tile installer may install the toilets for you. Install Kitchen cabinets, etc.: You must be there for cabinet installation – take time off. You will be the Architect / Designer and must make snap decisions. Dry fit all base cabinets and check level/square before any installation. This is key for good countertop installation. Verify all connection locations in walls: Gas, water, plumbing. Gas valves for Ranges are rarely properly located and have very tight dimensions. Choose Range to purchase prior to installation. Best is to have range delivered prior to cabinet installation. For the best job, hire a finish carpenter or cabinet installer, not a General Contractor. Time: 2-3 days Install Tile: Bathrooms first, Kitchen Last after cabinet installation. Kitchen could be done when waiting for Granite countertop (template & fab). Install Counter Top, Sink with plumbing, Dishwasher, Range, Stove, Oven, Hood, hardware. Install Carpets: Carpet in bedrooms should be inexpensive and easy to do. Should be no issues. Pay bills... I am professional scheduler by trade (Large Mech. Contractor, Large Energy Contractor, GC for Stadium-style Theatres, Large Aerospace Contractor). I use MS Project daily, shouldn't be necessary on your project. If you never used it, you may be spending more time learning MSP then managing your project. I just completed a $30k Kitchen Remodel in 3 weeks in Nov-09. Gutted kitchen to walls, removed ceiling, removed and resupported structural wall, new Kraftmaid cabinets with Granite Counter and full granite backsplash. We purchased and received all major materials and appliances prior to contractor starting. I did the kitchen design myself with some help from the Lowes designer. More validation of design, than concept. GC just completed kitchen remodel of an exact same model in our track. Liked their work and did some design changes based that kitchen outcome. When we purchased our home 5 years ago, we did just the painting and flooring replacement, holding off on the kitchen. Tile downstairs, except wood living room. Stairs, Upstairs hall, and Bonus room - Wood; Bedrooms - carpet; Upstairs Bathrooms - Tile. 27 Windows replaced 2 years ago by a Window Contractor and took 3 days. Not a remodeling pro, but have the tools for understanding logical progression. Lucky In OC
ParticipantTH,
You also want to check if you are fully vested in your accounts with matching funds. If you roll-over your accounts you will not be able to roll-over your non-vested amounts from the company. I have a fidelity account that I am 3/4 vested (I was laid-off just before my 5th yr). Unfortunately, I am stuck until I retire or get hired by the company again(large company, small possibility).
Lucky In OC
ParticipantTH,
You also want to check if you are fully vested in your accounts with matching funds. If you roll-over your accounts you will not be able to roll-over your non-vested amounts from the company. I have a fidelity account that I am 3/4 vested (I was laid-off just before my 5th yr). Unfortunately, I am stuck until I retire or get hired by the company again(large company, small possibility).
Lucky In OC
ParticipantTH,
You also want to check if you are fully vested in your accounts with matching funds. If you roll-over your accounts you will not be able to roll-over your non-vested amounts from the company. I have a fidelity account that I am 3/4 vested (I was laid-off just before my 5th yr). Unfortunately, I am stuck until I retire or get hired by the company again(large company, small possibility).
Lucky In OC
ParticipantTH,
You also want to check if you are fully vested in your accounts with matching funds. If you roll-over your accounts you will not be able to roll-over your non-vested amounts from the company. I have a fidelity account that I am 3/4 vested (I was laid-off just before my 5th yr). Unfortunately, I am stuck until I retire or get hired by the company again(large company, small possibility).
Lucky In OC
ParticipantTH,
You also want to check if you are fully vested in your accounts with matching funds. If you roll-over your accounts you will not be able to roll-over your non-vested amounts from the company. I have a fidelity account that I am 3/4 vested (I was laid-off just before my 5th yr). Unfortunately, I am stuck until I retire or get hired by the company again(large company, small possibility).
Lucky In OC
Participant[quote=sdrealtor]Others including myself are saying the worst is past. That the market is being successfully manipulated and while there is no turn around in sight there is no disaster ahead either. No one is arguing that the obvious isnt happening. The powers that be are trying to spread the pain and let time minimize the fall coupled with modest inflation. Rational thinking says it wont work but the reality is that it has been working. It wont stop and they will find new creative ways to continue doing so. The powers that be are winning and you just cant admit that.[/quote]
sdr, I too have a problem when it comes to say the worst is past. When I look at the FDIC numbers for banks and find that in the last 6 months the Nonaccrual status has increased 40%:
6/30/09 Nonaccrual Status: $83.5 Billion
3/31/09 Nonaccrual Status: $78.3 Billion
12/31/08 Nonaccrual Status: $59.6 Billion
12/31/07 Nonaccrual Status: $37.5 Billion
12/31/06 Nonaccrual Status: $15.0 Billion
…
12/31/02 Nonaccrual Status: $10.2 Billionand has yet to stop increasing.
Nonaccrual — For purposes of this schedule, an asset is to be reported as being in nonaccrual status if:
(1) it is maintained on a cash basis because of deterioration in the financial condition of the borrower,
(2) payment in full of principal or interest is not expected, or (3) principal or interest has been in default for a period of 90 days or more unless the asset is both well secured and in the process of
collection.Source: http://www.fdic.gov/regulations/resources/call/crinst/897rc-n.pdf
Also, Non-current loans have almost doubled in the last 6 months and over 5x since 2006.
Non-current Loans to Loans:
As of 6/30/09: 5.52%
As of 3/31/09: 4.95%
As of 12/31/08: 3.85%
As of 12/31/07: 1.82%
As of 12/31/06: 0.91%
…
As of 12/31/02: 0.84%http://piggington.com/shadow_sales
I don’t see from these numbers that the manipulation of the banks and housing market is working. I personally cannot see how things can stay the same or get better.
[quote=sdrealtor]That the market is being successfully manipulated and while there is no turn around in sight there is no disaster ahead either.[/quote]
And the Titanic can successfully maneuver around or collide into icebergs… “See, we hit that iceberg and nothing happened, the Titanic is indestructible…” Everything must be just fine…Maybe there is the ‘Invisible Hand of God’…
I don’t know if it is urban legend, but I have always heard from the older generation “more people got hurt on the second lesser market drop than the first greater drop…”. Several thought the worst was over.
Luck In OC
Participant[quote=sdrealtor]Others including myself are saying the worst is past. That the market is being successfully manipulated and while there is no turn around in sight there is no disaster ahead either. No one is arguing that the obvious isnt happening. The powers that be are trying to spread the pain and let time minimize the fall coupled with modest inflation. Rational thinking says it wont work but the reality is that it has been working. It wont stop and they will find new creative ways to continue doing so. The powers that be are winning and you just cant admit that.[/quote]
sdr, I too have a problem when it comes to say the worst is past. When I look at the FDIC numbers for banks and find that in the last 6 months the Nonaccrual status has increased 40%:
6/30/09 Nonaccrual Status: $83.5 Billion
3/31/09 Nonaccrual Status: $78.3 Billion
12/31/08 Nonaccrual Status: $59.6 Billion
12/31/07 Nonaccrual Status: $37.5 Billion
12/31/06 Nonaccrual Status: $15.0 Billion
…
12/31/02 Nonaccrual Status: $10.2 Billionand has yet to stop increasing.
Nonaccrual — For purposes of this schedule, an asset is to be reported as being in nonaccrual status if:
(1) it is maintained on a cash basis because of deterioration in the financial condition of the borrower,
(2) payment in full of principal or interest is not expected, or (3) principal or interest has been in default for a period of 90 days or more unless the asset is both well secured and in the process of
collection.Source: http://www.fdic.gov/regulations/resources/call/crinst/897rc-n.pdf
Also, Non-current loans have almost doubled in the last 6 months and over 5x since 2006.
Non-current Loans to Loans:
As of 6/30/09: 5.52%
As of 3/31/09: 4.95%
As of 12/31/08: 3.85%
As of 12/31/07: 1.82%
As of 12/31/06: 0.91%
…
As of 12/31/02: 0.84%http://piggington.com/shadow_sales
I don’t see from these numbers that the manipulation of the banks and housing market is working. I personally cannot see how things can stay the same or get better.
[quote=sdrealtor]That the market is being successfully manipulated and while there is no turn around in sight there is no disaster ahead either.[/quote]
And the Titanic can successfully maneuver around or collide into icebergs… “See, we hit that iceberg and nothing happened, the Titanic is indestructible…” Everything must be just fine…Maybe there is the ‘Invisible Hand of God’…
I don’t know if it is urban legend, but I have always heard from the older generation “more people got hurt on the second lesser market drop than the first greater drop…”. Several thought the worst was over.
Luck In OC
Participant[quote=sdrealtor]Others including myself are saying the worst is past. That the market is being successfully manipulated and while there is no turn around in sight there is no disaster ahead either. No one is arguing that the obvious isnt happening. The powers that be are trying to spread the pain and let time minimize the fall coupled with modest inflation. Rational thinking says it wont work but the reality is that it has been working. It wont stop and they will find new creative ways to continue doing so. The powers that be are winning and you just cant admit that.[/quote]
sdr, I too have a problem when it comes to say the worst is past. When I look at the FDIC numbers for banks and find that in the last 6 months the Nonaccrual status has increased 40%:
6/30/09 Nonaccrual Status: $83.5 Billion
3/31/09 Nonaccrual Status: $78.3 Billion
12/31/08 Nonaccrual Status: $59.6 Billion
12/31/07 Nonaccrual Status: $37.5 Billion
12/31/06 Nonaccrual Status: $15.0 Billion
…
12/31/02 Nonaccrual Status: $10.2 Billionand has yet to stop increasing.
Nonaccrual — For purposes of this schedule, an asset is to be reported as being in nonaccrual status if:
(1) it is maintained on a cash basis because of deterioration in the financial condition of the borrower,
(2) payment in full of principal or interest is not expected, or (3) principal or interest has been in default for a period of 90 days or more unless the asset is both well secured and in the process of
collection.Source: http://www.fdic.gov/regulations/resources/call/crinst/897rc-n.pdf
Also, Non-current loans have almost doubled in the last 6 months and over 5x since 2006.
Non-current Loans to Loans:
As of 6/30/09: 5.52%
As of 3/31/09: 4.95%
As of 12/31/08: 3.85%
As of 12/31/07: 1.82%
As of 12/31/06: 0.91%
…
As of 12/31/02: 0.84%http://piggington.com/shadow_sales
I don’t see from these numbers that the manipulation of the banks and housing market is working. I personally cannot see how things can stay the same or get better.
[quote=sdrealtor]That the market is being successfully manipulated and while there is no turn around in sight there is no disaster ahead either.[/quote]
And the Titanic can successfully maneuver around or collide into icebergs… “See, we hit that iceberg and nothing happened, the Titanic is indestructible…” Everything must be just fine…Maybe there is the ‘Invisible Hand of God’…
I don’t know if it is urban legend, but I have always heard from the older generation “more people got hurt on the second lesser market drop than the first greater drop…”. Several thought the worst was over.
Luck In OC
Participant[quote=sdrealtor]Others including myself are saying the worst is past. That the market is being successfully manipulated and while there is no turn around in sight there is no disaster ahead either. No one is arguing that the obvious isnt happening. The powers that be are trying to spread the pain and let time minimize the fall coupled with modest inflation. Rational thinking says it wont work but the reality is that it has been working. It wont stop and they will find new creative ways to continue doing so. The powers that be are winning and you just cant admit that.[/quote]
sdr, I too have a problem when it comes to say the worst is past. When I look at the FDIC numbers for banks and find that in the last 6 months the Nonaccrual status has increased 40%:
6/30/09 Nonaccrual Status: $83.5 Billion
3/31/09 Nonaccrual Status: $78.3 Billion
12/31/08 Nonaccrual Status: $59.6 Billion
12/31/07 Nonaccrual Status: $37.5 Billion
12/31/06 Nonaccrual Status: $15.0 Billion
…
12/31/02 Nonaccrual Status: $10.2 Billionand has yet to stop increasing.
Nonaccrual — For purposes of this schedule, an asset is to be reported as being in nonaccrual status if:
(1) it is maintained on a cash basis because of deterioration in the financial condition of the borrower,
(2) payment in full of principal or interest is not expected, or (3) principal or interest has been in default for a period of 90 days or more unless the asset is both well secured and in the process of
collection.Source: http://www.fdic.gov/regulations/resources/call/crinst/897rc-n.pdf
Also, Non-current loans have almost doubled in the last 6 months and over 5x since 2006.
Non-current Loans to Loans:
As of 6/30/09: 5.52%
As of 3/31/09: 4.95%
As of 12/31/08: 3.85%
As of 12/31/07: 1.82%
As of 12/31/06: 0.91%
…
As of 12/31/02: 0.84%http://piggington.com/shadow_sales
I don’t see from these numbers that the manipulation of the banks and housing market is working. I personally cannot see how things can stay the same or get better.
[quote=sdrealtor]That the market is being successfully manipulated and while there is no turn around in sight there is no disaster ahead either.[/quote]
And the Titanic can successfully maneuver around or collide into icebergs… “See, we hit that iceberg and nothing happened, the Titanic is indestructible…” Everything must be just fine…Maybe there is the ‘Invisible Hand of God’…
I don’t know if it is urban legend, but I have always heard from the older generation “more people got hurt on the second lesser market drop than the first greater drop…”. Several thought the worst was over.
Luck In OC
Participant[quote=sdrealtor]Others including myself are saying the worst is past. That the market is being successfully manipulated and while there is no turn around in sight there is no disaster ahead either. No one is arguing that the obvious isnt happening. The powers that be are trying to spread the pain and let time minimize the fall coupled with modest inflation. Rational thinking says it wont work but the reality is that it has been working. It wont stop and they will find new creative ways to continue doing so. The powers that be are winning and you just cant admit that.[/quote]
sdr, I too have a problem when it comes to say the worst is past. When I look at the FDIC numbers for banks and find that in the last 6 months the Nonaccrual status has increased 40%:
6/30/09 Nonaccrual Status: $83.5 Billion
3/31/09 Nonaccrual Status: $78.3 Billion
12/31/08 Nonaccrual Status: $59.6 Billion
12/31/07 Nonaccrual Status: $37.5 Billion
12/31/06 Nonaccrual Status: $15.0 Billion
…
12/31/02 Nonaccrual Status: $10.2 Billionand has yet to stop increasing.
Nonaccrual — For purposes of this schedule, an asset is to be reported as being in nonaccrual status if:
(1) it is maintained on a cash basis because of deterioration in the financial condition of the borrower,
(2) payment in full of principal or interest is not expected, or (3) principal or interest has been in default for a period of 90 days or more unless the asset is both well secured and in the process of
collection.Source: http://www.fdic.gov/regulations/resources/call/crinst/897rc-n.pdf
Also, Non-current loans have almost doubled in the last 6 months and over 5x since 2006.
Non-current Loans to Loans:
As of 6/30/09: 5.52%
As of 3/31/09: 4.95%
As of 12/31/08: 3.85%
As of 12/31/07: 1.82%
As of 12/31/06: 0.91%
…
As of 12/31/02: 0.84%http://piggington.com/shadow_sales
I don’t see from these numbers that the manipulation of the banks and housing market is working. I personally cannot see how things can stay the same or get better.
[quote=sdrealtor]That the market is being successfully manipulated and while there is no turn around in sight there is no disaster ahead either.[/quote]
And the Titanic can successfully maneuver around or collide into icebergs… “See, we hit that iceberg and nothing happened, the Titanic is indestructible…” Everything must be just fine…Maybe there is the ‘Invisible Hand of God’…
I don’t know if it is urban legend, but I have always heard from the older generation “more people got hurt on the second lesser market drop than the first greater drop…”. Several thought the worst was over.
Luck In OC
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