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Nancy_s soothsayer
ParticipantIt’s highly probable that many option-ARMS or neg-am loans scheduled to reset from months 30 through 60 per the Credit Suisse “ARM Reset Schedule” are already getting recalculated NOW and are seeing early resets way ahead than what were FBs’ assumptions of later schedules. Certainly I keep reading about many FB’s who are caught unaware, getting surprised when they see their mortgage bills increasing almost every month! This sounds like early resets have been triggered already. Thus, the 50%-off-from-peak prediction will come sooner than 2012.
ParticipantIt’s highly probable that many option-ARMS or neg-am loans scheduled to reset from months 30 through 60 per the Credit Suisse “ARM Reset Schedule” are already getting recalculated NOW and are seeing early resets way ahead than what were FBs’ assumptions of later schedules. Certainly I keep reading about many FB’s who are caught unaware, getting surprised when they see their mortgage bills increasing almost every month! This sounds like early resets have been triggered already. Thus, the 50%-off-from-peak prediction will come sooner than 2012.
ParticipantIt’s highly probable that many option-ARMS or neg-am loans scheduled to reset from months 30 through 60 per the Credit Suisse “ARM Reset Schedule” are already getting recalculated NOW and are seeing early resets way ahead than what were FBs’ assumptions of later schedules. Certainly I keep reading about many FB’s who are caught unaware, getting surprised when they see their mortgage bills increasing almost every month! This sounds like early resets have been triggered already. Thus, the 50%-off-from-peak prediction will come sooner than 2012.
ParticipantVery nice, rocket science. Based on Alex Data alone, Alex will also stay young and live forever. He will never ever pass away. San Diego will turn to Nirvana for his perpetual lifespan. (Sarcasm off)
ParticipantVery nice, rocket science. Based on Alex Data alone, Alex will also stay young and live forever. He will never ever pass away. San Diego will turn to Nirvana for his perpetual lifespan. (Sarcasm off)
ParticipantVery nice, rocket science. Based on Alex Data alone, Alex will also stay young and live forever. He will never ever pass away. San Diego will turn to Nirvana for his perpetual lifespan. (Sarcasm off)
ParticipantSo true. Nobody likes Nostradamus’s. They get easily banished and dismissed as “doom and gloomer.”
Over a year ago, this soothsayer also shared the crystal ball insights saying that San Diego prices in general would drop to about 50% off the Oct-2005 peak after October 2009. Nancy got nothing but dismissive comments.
And now, finally, even the sage of the land, Mr. Bugs, is now quoting 50% drop. He is easily swaying new converts. The 50% prediction is now becoming the general consensus around here. My, what the hay, HOW TIME AND SENTIMENTS HAVE CHANGED since you posted the original thread.
To be specific, Nancy’s crystal ball picks this one “invesuckment” as an example. The owner’s net worth is all tied up in this money pit.
Parcel no. 678-634-2400
Situs: 17014 Sienna Ridge Dr., 4-Closure Ranch, Rancho-B
Bought: 12/23/05
Paid: $922,500Cyrstal ball says, it and similar houses (and there would be many distressed houses nearby) will have a very hard time finding buyers if they were to sell for more than $460K (50% off) right after October 2009. The credit contraction occurring now will make sure of that.
Bigtrouble, please speak up some more….
ParticipantSo true. Nobody likes Nostradamus’s. They get easily banished and dismissed as “doom and gloomer.”
Over a year ago, this soothsayer also shared the crystal ball insights saying that San Diego prices in general would drop to about 50% off the Oct-2005 peak after October 2009. Nancy got nothing but dismissive comments.
And now, finally, even the sage of the land, Mr. Bugs, is now quoting 50% drop. He is easily swaying new converts. The 50% prediction is now becoming the general consensus around here. My, what the hay, HOW TIME AND SENTIMENTS HAVE CHANGED since you posted the original thread.
To be specific, Nancy’s crystal ball picks this one “invesuckment” as an example. The owner’s net worth is all tied up in this money pit.
Parcel no. 678-634-2400
Situs: 17014 Sienna Ridge Dr., 4-Closure Ranch, Rancho-B
Bought: 12/23/05
Paid: $922,500Cyrstal ball says, it and similar houses (and there would be many distressed houses nearby) will have a very hard time finding buyers if they were to sell for more than $460K (50% off) right after October 2009. The credit contraction occurring now will make sure of that.
Bigtrouble, please speak up some more….
ParticipantSo true. Nobody likes Nostradamus’s. They get easily banished and dismissed as “doom and gloomer.”
Over a year ago, this soothsayer also shared the crystal ball insights saying that San Diego prices in general would drop to about 50% off the Oct-2005 peak after October 2009. Nancy got nothing but dismissive comments.
And now, finally, even the sage of the land, Mr. Bugs, is now quoting 50% drop. He is easily swaying new converts. The 50% prediction is now becoming the general consensus around here. My, what the hay, HOW TIME AND SENTIMENTS HAVE CHANGED since you posted the original thread.
To be specific, Nancy’s crystal ball picks this one “invesuckment” as an example. The owner’s net worth is all tied up in this money pit.
Parcel no. 678-634-2400
Situs: 17014 Sienna Ridge Dr., 4-Closure Ranch, Rancho-B
Bought: 12/23/05
Paid: $922,500Cyrstal ball says, it and similar houses (and there would be many distressed houses nearby) will have a very hard time finding buyers if they were to sell for more than $460K (50% off) right after October 2009. The credit contraction occurring now will make sure of that.
Bigtrouble, please speak up some more….
ParticipantIn my crystal ball, several but not-yet-known hedge funds have already imploded out there much like the two Bear Stearns funds, but nobody wants to be the bearer of bad news for these hedge funds (they are dead man walking at this point.) Much as possible they would like to not rock the boat, to be put on deep freeze, to talk first with attorneys, to sweep under the rug for now until it becomes so unbearable. If you were a highly paid hedge fund manager last year, would you have the chutzpah to tell you wealthy, soon-to-be ex millionaire investors that they just got dealt a total loss?
ParticipantIn my crystal ball, several but not-yet-known hedge funds have already imploded out there much like the two Bear Stearns funds, but nobody wants to be the bearer of bad news for these hedge funds (they are dead man walking at this point.) Much as possible they would like to not rock the boat, to be put on deep freeze, to talk first with attorneys, to sweep under the rug for now until it becomes so unbearable. If you were a highly paid hedge fund manager last year, would you have the chutzpah to tell you wealthy, soon-to-be ex millionaire investors that they just got dealt a total loss?
ParticipantSome of the genius bagholders probably don’t even have any whiff of their fate yet. For example, some pension funds probably did all of these and more:
1. loaded up on RMBS “highly rated” by Ratings Agencies (liars!)
2. loaded up on agency securities of Fannie and Freddie
3. loaded up on CDO’s and swaps (they could be on the wrong end of such swaps!)
4. paid huge fees to hedge fund managers so that these mismanagers can engage in gambling with the pension fund’s money (nice!! — See Amaranth.)
5. paid huge fees to investment banks (Bear Stearns) for banking services and transaction costs
6. retained and adding more high-priced lawyers so that they can sue all
#’s 1 though 5 above in the future. YAY!!!To top it off, they borrowed tons of cash too, to give to the hedge fund managers for gambling.
ParticipantSome of the genius bagholders probably don’t even have any whiff of their fate yet. For example, some pension funds probably did all of these and more:
1. loaded up on RMBS “highly rated” by Ratings Agencies (liars!)
2. loaded up on agency securities of Fannie and Freddie
3. loaded up on CDO’s and swaps (they could be on the wrong end of such swaps!)
4. paid huge fees to hedge fund managers so that these mismanagers can engage in gambling with the pension fund’s money (nice!! — See Amaranth.)
5. paid huge fees to investment banks (Bear Stearns) for banking services and transaction costs
6. retained and adding more high-priced lawyers so that they can sue all
#’s 1 though 5 above in the future. YAY!!!To top it off, they borrowed tons of cash too, to give to the hedge fund managers for gambling.
ParticipantLet me put another perspective to look at. Are you buying right now at overpriced, highly inflated costs while dickering with your laser vision at a tiny $350??
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