[patientrenter]

Some of those singing the praises of cash back may be missing the point that it misleads the lender into lending too much. The lender ends up lending money for whatever the buyer wants to spend it on. Loans like that are risky and should bear a higher interest rate. Cash back is a way to get the lender to charge a low-risk rate for a high-risk loan without the lender’s knowledge or agreement.

I don’t know if it’s legal, but I would feel defrauded if I were the lender.

Patient renter in OC

[patientrenter]

Kev, I won’t buy without a 40% discount or more from peak, but someone else will buy that 25% discounted property in a sea of 5-15% discounts. There are still a few buyers, and to sell you just need to have the biggest discount. I’m not saying that prices won’t come down by 25% or more eventually. I’m just saying that it will take some time, and until then houses offered at the biggest discount will sell.

Patient renter in OC

[patientrenter]

Kev, I won’t buy without a 40% discount or more from peak, but someone else will buy that 25% discounted property in a sea of 5-15% discounts. There are still a few buyers, and to sell you just need to have the biggest discount. I’m not saying that prices won’t come down by 25% or more eventually. I’m just saying that it will take some time, and until then houses offered at the biggest discount will sell.

Patient renter in OC

[patientrenter]

Kev, I won’t buy without a 40% discount or more from peak, but someone else will buy that 25% discounted property in a sea of 5-15% discounts. There are still a few buyers, and to sell you just need to have the biggest discount. I’m not saying that prices won’t come down by 25% or more eventually. I’m just saying that it will take some time, and until then houses offered at the biggest discount will sell.

Patient renter in OC

[patientrenter]

Kev, I won’t buy without a 40% discount or more from peak, but someone else will buy that 25% discounted property in a sea of 5-15% discounts. There are still a few buyers, and to sell you just need to have the biggest discount. I’m not saying that prices won’t come down by 25% or more eventually. I’m just saying that it will take some time, and until then houses offered at the biggest discount will sell.

Patient renter in OC

[patientrenter]

We all agree that it’s a “good” loan, in the sense that you’re paying less than it’s worth. Who is subsidizing you to keep real estate prices high? I’ll bet the money didn’t all come from the NAR.

Sorry to be so blunt. You’re probably a nice person to talk with, but you’re taking advantage of a system that doubly screws taxpayers who pay bucketloads of tax to pay for crackpot schemes like this, and who refuse to abandon financial responsibility to overpay for their own home. As a result, these responsible taxpayers are priced out themselves.

Patient renter in OC

[patientrenter]

We all agree that it’s a “good” loan, in the sense that you’re paying less than it’s worth. Who is subsidizing you to keep real estate prices high? I’ll bet the money didn’t all come from the NAR.

Sorry to be so blunt. You’re probably a nice person to talk with, but you’re taking advantage of a system that doubly screws taxpayers who pay bucketloads of tax to pay for crackpot schemes like this, and who refuse to abandon financial responsibility to overpay for their own home. As a result, these responsible taxpayers are priced out themselves.

Patient renter in OC

[patientrenter]

We all agree that it’s a “good” loan, in the sense that you’re paying less than it’s worth. Who is subsidizing you to keep real estate prices high? I’ll bet the money didn’t all come from the NAR.

Sorry to be so blunt. You’re probably a nice person to talk with, but you’re taking advantage of a system that doubly screws taxpayers who pay bucketloads of tax to pay for crackpot schemes like this, and who refuse to abandon financial responsibility to overpay for their own home. As a result, these responsible taxpayers are priced out themselves.

Patient renter in OC

[patientrenter]

Does anyone here know if an increase in rents would go straight through to the CPI? (I.e. does the CPI imputed rent for homes reflect real rental rates?)

Patient renter in OC

[patientrenter]

Does anyone here know if an increase in rents would go straight through to the CPI? (I.e. does the CPI imputed rent for homes reflect real rental rates?)

Patient renter in OC

[patientrenter]

Does anyone here know if an increase in rents would go straight through to the CPI? (I.e. does the CPI imputed rent for homes reflect real rental rates?)

Patient renter in OC

[patientrenter]

And a 37% decrease, this one in Aliso Viejo. The Orange County dam is breaking!

23431 VIA SAN GABRIEL, Aliso Viejo, CA 92656

Listing price: $299,900 (10/31/2007)

Sale History
01/30/2006: $477,000
02/28/2005: $406,000
07/19/2002: $246,000
06/30/2000: $177,590

3+2, 1246 sq ft

“Location, location, location premium location in the tract, lots of private greenbelt surrounding the home, ceramic tile flooring, only 2 year old roof, private enclosed patio, no mello roos trash & insurance inc. In assoc. Fee”

Patient renter in OC

[patientrenter]

And a 37% decrease, this one in Aliso Viejo. The Orange County dam is breaking!

23431 VIA SAN GABRIEL, Aliso Viejo, CA 92656

Listing price: $299,900 (10/31/2007)

Sale History
01/30/2006: $477,000
02/28/2005: $406,000
07/19/2002: $246,000
06/30/2000: $177,590

3+2, 1246 sq ft

“Location, location, location premium location in the tract, lots of private greenbelt surrounding the home, ceramic tile flooring, only 2 year old roof, private enclosed patio, no mello roos trash & insurance inc. In assoc. Fee”

Patient renter in OC

[patientrenter]

And a 37% decrease, this one in Aliso Viejo. The Orange County dam is breaking!

23431 VIA SAN GABRIEL, Aliso Viejo, CA 92656

Listing price: $299,900 (10/31/2007)

Sale History
01/30/2006: $477,000
02/28/2005: $406,000
07/19/2002: $246,000
06/30/2000: $177,590

3+2, 1246 sq ft

“Location, location, location premium location in the tract, lots of private greenbelt surrounding the home, ceramic tile flooring, only 2 year old roof, private enclosed patio, no mello roos trash & insurance inc. In assoc. Fee”

Patient renter in OC

[patientrenter]

And a 43% decrease off peak, this time in Anaheim.

1250 SOUTH BROOKHURST STREET #2016, Anaheim, CA 92804

List price: $199,000 (10/31/2007)

Sale History
01/05/2006: $349,000
01/29/2001: $113,500
12/31/1996: $57,000

“This is a 2 bed, 1 bath condo in a second level. Tile flooring, good condition, property recently remodeled. Balcony at front of the unit. Close to laundry facility. Right at front of the fenced pool and the clubhouse. Make an offer!”

Patient renter in OC

[Author]

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