[noone]

VoZangre

Start by asking her to read te “Bubble Primer” on this site.

http://piggington.com/

Next take a look at a spreadsheet like the one that nweaver posted recently to show the differences between renting and buying.

http://www.icsi.berkeley.edu/~nweaver/buy_v_rent.xls

Make sure to assume negative home appreciation, at least for the next year or two. Look at some of the “monitor” topics in the forums here as well to show that prices are in fact on their way down.

http://piggington.com/the_short_sale_monitor
http://piggington.com/carmel_valley_monitor
http://piggington.com/scripps_and_mira_mesa_monitor

Read up on stories of people who have bought homes recently intending to refinance before their adjustable rate reset. Now a number of factors have come into play that prevent them from refinancing. If they cannot afford the adjusted payment, they either have to sell at a loss or face foreclosure. The housing bubble blog is always good for these stories.

http://thehousingbubbleblog.com/index.html

[noone]

I understand what you’re saying Shari, but you would then be in the “If you don’t really want to sell then don’t put it on the market.” category. Nothing in the article say that you should sell at a loss no matter what. It’s perfectly fine to simply stay put and not sell at all. It’s just saying that if you really want (or need) to sell, then you will have to accept that you will be selling at a loss. Listing your home at a price that is too high is simply a waste of time and effort.

By the way, your list of reasons for selling at a loss also needs to include: Your monthly payment adjusts upward and you can neither afford the adjusted monthly payment nor re-finanace because you have negative equity in the home.

[noone]

A few years back, I was sitting in Callahan’s with some co-workers talking about housing. I was the only bear in the bunch. At that time I said that the one thing that would make me feel stupid for not jumping on the bandwagon and buying some POS that I knew I couldn’t afford… is a government bailout.

However, I think PadreBrian might be seeing this the right way. From the sounds of it, in this plan the only folks who will be able to hang on to their homes for another couple of years are in other parts of the country, not the SoCal area. San Diegan’s will be in the other category of being able to make a short sale without a tax penalty. And even then, the bank has to agree to the short sale.

[noone]

POZ, I think you’ve got a good start here. Though I think it needs more emphasis on how this would hurt us. Not only is it a slap in the face to those of us who took the responsible route, but could actually lead to financial difficulties for us. I know that you’ve included a paragraph about that, but I think that should be the main emphasis of the letter. If they respond best to sob stories, let’s give them one. If possible, it would be good to show just how many of us there are. Though I’m not sure how one would come up with the numbers for that. Perhaps the number of households with incomes of 100k+ who did not buy, i.e. are currently renting?

[noone]

POZ, I think you’ve got a good start here. Though I think it needs more emphasis on how this would hurt us. Not only is it a slap in the face to those of us who took the responsible route, but could actually lead to financial difficulties for us. I know that you’ve included a paragraph about that, but I think that should be the main emphasis of the letter. If they respond best to sob stories, let’s give them one. If possible, it would be good to show just how many of us there are. Though I’m not sure how one would come up with the numbers for that. Perhaps the number of households with incomes of 100k+ who did not buy, i.e. are currently renting?

[noone]

POZ, I think you’ve got a good start here. Though I think it needs more emphasis on how this would hurt us. Not only is it a slap in the face to those of us who took the responsible route, but could actually lead to financial difficulties for us. I know that you’ve included a paragraph about that, but I think that should be the main emphasis of the letter. If they respond best to sob stories, let’s give them one. If possible, it would be good to show just how many of us there are. Though I’m not sure how one would come up with the numbers for that. Perhaps the number of households with incomes of 100k+ who did not buy, i.e. are currently renting?

[noone]

The problem is that you’re claiming that you have moved out of California. The software knows that is a lie because no one leaves California.

[noone]

The problem is that you’re claiming that you have moved out of California. The software knows that is a lie because no one leaves California.

[noone]

The problem is that you’re claiming that you have moved out of California. The software knows that is a lie because no one leaves California.

[noone]

Looking at the properties that would be of interest to me, the starting bids are around what I would be comfortable with as a final bid. So I’m staying home. I look forward to hearing stories from those who go though.

[noone]

Looking at the properties that would be of interest to me, the starting bids are around what I would be comfortable with as a final bid. So I’m staying home. I look forward to hearing stories from those who go though.

[noone]

Looking at the properties that would be of interest to me, the starting bids are around what I would be comfortable with as a final bid. So I’m staying home. I look forward to hearing stories from those who go though.

[noone]

As near as I can tell, all they did was exchange money on paper for paper money. In other words they turned on the printing presses allowing banks to cash some checks. The money was already there, but only in bits and bytes on a computer. Now there are actual greenbacks.

Am I close? Anyone else?

[noone]

As near as I can tell, all they did was exchange money on paper for paper money. In other words they turned on the printing presses allowing banks to cash some checks. The money was already there, but only in bits and bytes on a computer. Now there are actual greenbacks.

Am I close? Anyone else?

[noone]

As near as I can tell, all they did was exchange money on paper for paper money. In other words they turned on the printing presses allowing banks to cash some checks. The money was already there, but only in bits and bytes on a computer. Now there are actual greenbacks.

Am I close? Anyone else?

[Author]

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