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December 26, 2007 at 7:46 PM in reply to: Washington Times Article…..”Blame Abounds For Housing Bust” #124743December 26, 2007 at 7:46 PM in reply to: Washington Times Article…..”Blame Abounds For Housing Bust” #124763
patientrenter
ParticipantWell, Ex-SD, it’s nice to see this type of more honest and balanced article than we saw for most of the last 10 years, but I hope the rest of the article is better-researched than the second sentence “..since the 1990 savings and loan crisis…”. Wasn’t the S&L crisis an 80’s phenomenon, or am I going senile?
Patient renter in OC
December 26, 2007 at 7:46 PM in reply to: Washington Times Article…..”Blame Abounds For Housing Bust” #124821ParticipantWell, Ex-SD, it’s nice to see this type of more honest and balanced article than we saw for most of the last 10 years, but I hope the rest of the article is better-researched than the second sentence “..since the 1990 savings and loan crisis…”. Wasn’t the S&L crisis an 80’s phenomenon, or am I going senile?
Patient renter in OC
December 26, 2007 at 7:46 PM in reply to: Washington Times Article…..”Blame Abounds For Housing Bust” #124845ParticipantWell, Ex-SD, it’s nice to see this type of more honest and balanced article than we saw for most of the last 10 years, but I hope the rest of the article is better-researched than the second sentence “..since the 1990 savings and loan crisis…”. Wasn’t the S&L crisis an 80’s phenomenon, or am I going senile?
Patient renter in OC
ParticipantI haven’t saved anything aldante, but I feel a lot better knowing there are several smart people out there thinking along the same lines I am. I hope it leads me to buy at a good price within the next 5 years.
Patient renter in OC
ParticipantI haven’t saved anything aldante, but I feel a lot better knowing there are several smart people out there thinking along the same lines I am. I hope it leads me to buy at a good price within the next 5 years.
Patient renter in OC
ParticipantI haven’t saved anything aldante, but I feel a lot better knowing there are several smart people out there thinking along the same lines I am. I hope it leads me to buy at a good price within the next 5 years.
Patient renter in OC
ParticipantI haven’t saved anything aldante, but I feel a lot better knowing there are several smart people out there thinking along the same lines I am. I hope it leads me to buy at a good price within the next 5 years.
Patient renter in OC
ParticipantI haven’t saved anything aldante, but I feel a lot better knowing there are several smart people out there thinking along the same lines I am. I hope it leads me to buy at a good price within the next 5 years.
Patient renter in OC
December 21, 2007 at 11:08 PM in reply to: Free Pass to walk away from recourse debt on primary residence !!! #122584ParticipantHLS, can you quote the part that makes purchase loans non-recourse in all states? DaC didn’t seem to think it did that.
Patient renter in OC
December 21, 2007 at 11:08 PM in reply to: Free Pass to walk away from recourse debt on primary residence !!! #122733ParticipantHLS, can you quote the part that makes purchase loans non-recourse in all states? DaC didn’t seem to think it did that.
Patient renter in OC
December 21, 2007 at 11:08 PM in reply to: Free Pass to walk away from recourse debt on primary residence !!! #122756ParticipantHLS, can you quote the part that makes purchase loans non-recourse in all states? DaC didn’t seem to think it did that.
Patient renter in OC
December 21, 2007 at 11:08 PM in reply to: Free Pass to walk away from recourse debt on primary residence !!! #122809ParticipantHLS, can you quote the part that makes purchase loans non-recourse in all states? DaC didn’t seem to think it did that.
Patient renter in OC
December 21, 2007 at 11:08 PM in reply to: Free Pass to walk away from recourse debt on primary residence !!! #122832ParticipantHLS, can you quote the part that makes purchase loans non-recourse in all states? DaC didn’t seem to think it did that.
Patient renter in OC
Participant” ‘CogSciGuy, if you could get a loan for $1 million at a PTI of $2500, would you take it?’
Sure, probably. Wouldn’t you? If I’m purchasing a property with a PITI of $2500/month, I bet I could rent it out for many multiples of $2500/month.
Or was there a different point you were trying to make?”
CogSciGuy, I assumed you were talking about buying your own home, not an investment property. Let’s make that assumption.
My point is that you seem to calculate affordability based solely on the monthly payment, not the purchase price. If you buy a house for, let’s say, $1 million, then my point is that you can only REALLY afford the house if you can expect to earn, net of taxes etc, $1 million in excess of your other needs and wants over your lifetime. Looking at it that way forces you to understand that the price of the house is going to have to compete with some other long-term goals you may not want to sacrifice now. Do you really want to buy a $500K house if it means you may have to retire no earlier than 65, or limit your spending from now until you die to your current abstemious budget?
For years now, most buyers didn’t do the kind of analysis I’m describing, becaase they just assumed that if the price of the home became too much to bear, they would sell it and get a gain, or at least their money back. At today’s prices, that’s not a slam dunk assumption, regardless of your monthly payments.
Do you see what I’m getting at?
Patient renter in OC
PS
CAN SOMEONE TURN OFF THESE ITALICS, PLEASE? -
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