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July 7, 2009 at 9:22 PM in reply to: U.S. Home Prices to Fall Through 2011’s First Quarter (Bloomberg News) #426937July 7, 2009 at 9:22 PM in reply to: U.S. Home Prices to Fall Through 2011’s First Quarter (Bloomberg News) #427224
patientrenter
ParticipantAgree about TV, Nor-LA-SD-guy. But disagree about incomes tripling. My income has tripled since 1995 also, but I know that’s higher than the average. When we talk about affordability, we don’t mean for Warren Buffett, or other individuals who aren’t close to averages. I don’t think most incomes have tripled since 1995.
July 7, 2009 at 9:22 PM in reply to: U.S. Home Prices to Fall Through 2011’s First Quarter (Bloomberg News) #427295ParticipantAgree about TV, Nor-LA-SD-guy. But disagree about incomes tripling. My income has tripled since 1995 also, but I know that’s higher than the average. When we talk about affordability, we don’t mean for Warren Buffett, or other individuals who aren’t close to averages. I don’t think most incomes have tripled since 1995.
July 7, 2009 at 9:22 PM in reply to: U.S. Home Prices to Fall Through 2011’s First Quarter (Bloomberg News) #427458ParticipantAgree about TV, Nor-LA-SD-guy. But disagree about incomes tripling. My income has tripled since 1995 also, but I know that’s higher than the average. When we talk about affordability, we don’t mean for Warren Buffett, or other individuals who aren’t close to averages. I don’t think most incomes have tripled since 1995.
Participant“How can you get a loan to purchase a property if you don’t have the cash to buy it at the auction?”
How do I buy something for more than I can afford? In the right economic system, the answer is you can’t. But the fact that there are other valid answers in our current economic system tells me we’re a very long way from recognizing our problems, let alone fixing them.
Clearly, if not having the purchase price for a home doesn’t tell you ANYTHING about whether you can afford it, then we still live in a world that’s way too leveraged.
Participant“How can you get a loan to purchase a property if you don’t have the cash to buy it at the auction?”
How do I buy something for more than I can afford? In the right economic system, the answer is you can’t. But the fact that there are other valid answers in our current economic system tells me we’re a very long way from recognizing our problems, let alone fixing them.
Clearly, if not having the purchase price for a home doesn’t tell you ANYTHING about whether you can afford it, then we still live in a world that’s way too leveraged.
Participant“How can you get a loan to purchase a property if you don’t have the cash to buy it at the auction?”
How do I buy something for more than I can afford? In the right economic system, the answer is you can’t. But the fact that there are other valid answers in our current economic system tells me we’re a very long way from recognizing our problems, let alone fixing them.
Clearly, if not having the purchase price for a home doesn’t tell you ANYTHING about whether you can afford it, then we still live in a world that’s way too leveraged.
Participant“How can you get a loan to purchase a property if you don’t have the cash to buy it at the auction?”
How do I buy something for more than I can afford? In the right economic system, the answer is you can’t. But the fact that there are other valid answers in our current economic system tells me we’re a very long way from recognizing our problems, let alone fixing them.
Clearly, if not having the purchase price for a home doesn’t tell you ANYTHING about whether you can afford it, then we still live in a world that’s way too leveraged.
Participant“How can you get a loan to purchase a property if you don’t have the cash to buy it at the auction?”
How do I buy something for more than I can afford? In the right economic system, the answer is you can’t. But the fact that there are other valid answers in our current economic system tells me we’re a very long way from recognizing our problems, let alone fixing them.
Clearly, if not having the purchase price for a home doesn’t tell you ANYTHING about whether you can afford it, then we still live in a world that’s way too leveraged.
July 7, 2009 at 9:08 PM in reply to: OT: “Bank of America sets cutoff for redeeming California IOUs” #426702Participantflu, you mentioned dividend stocks. I collect ’em. I’ve been lazy for months now, and don’t have any idea which ones look good. Any you like now, or in a 20-30% downturn?
July 7, 2009 at 9:08 PM in reply to: OT: “Bank of America sets cutoff for redeeming California IOUs” #426927Participantflu, you mentioned dividend stocks. I collect ’em. I’ve been lazy for months now, and don’t have any idea which ones look good. Any you like now, or in a 20-30% downturn?
July 7, 2009 at 9:08 PM in reply to: OT: “Bank of America sets cutoff for redeeming California IOUs” #427213Participantflu, you mentioned dividend stocks. I collect ’em. I’ve been lazy for months now, and don’t have any idea which ones look good. Any you like now, or in a 20-30% downturn?
July 7, 2009 at 9:08 PM in reply to: OT: “Bank of America sets cutoff for redeeming California IOUs” #427285Participantflu, you mentioned dividend stocks. I collect ’em. I’ve been lazy for months now, and don’t have any idea which ones look good. Any you like now, or in a 20-30% downturn?
July 7, 2009 at 9:08 PM in reply to: OT: “Bank of America sets cutoff for redeeming California IOUs” #427448Participantflu, you mentioned dividend stocks. I collect ’em. I’ve been lazy for months now, and don’t have any idea which ones look good. Any you like now, or in a 20-30% downturn?
July 7, 2009 at 6:55 PM in reply to: U.S. Home Prices to Fall Through 2011’s First Quarter (Bloomberg News) #426617Participant[quote=FormerSanDiegan]…..There are other interesting things in their report.
Their affordability index for San Diego for 1Q 2009 is 131*. This index is based on affordability relative to 1995. The interpretation is that housing in SD in 1Q 2009 was significantly more affordable than in 1995…..[/quote]
Affordability as measured here can be misleading. Prices are higher than in 1995, even when compared to wages. So homes are less affordable for cash buyers. But if you’re paying using other people’s money, and don’t plan to repay it any time soon, then lower interest rates makes a purchase more affordable.
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