[PerryChase]

cyphire, you sound like you have your priorities in order. You’ve achieved success without selling out your ideals. Us liberals are under appreciated. We care about the world, not just our pocket books.

Ok, I confess, I used to be a spender. I ate out every night and spent frivolously on everything. But no more. I’ve reformed since about 2001 and I haven’t bought a big ticket item since then. I drive my brothers’ hand-me-down cars. They are car buffs so I let them take the depreciation for me and it doesn’t cost me a penny. I prepare my own meals because it’s healthier and tastier. I now only eat restaurant food when I go out with friends.

My only remaining vice is that I want an architecturally designed house with a view. But even that is changing. Maybe I’ll just get a condo and call it quits.

You’re right contraman. I feels good to downsize. Plus the bank account likes it too.

So if financial ARMageddon comes about, I think that I’ll be fine. I have no debt and I can always grow vegetables and raise chicken and rabbits in the backyard (as long as we still have water). Afterall, the Brits did it during WWII and they turned out just fine.

——–

About Craigslist, there’s everything on there. What if people would just trade on Craigslist and never buy anything new again? Craig is certainly on to something and I commend him for not selling out and keeping the site free and free of ads.

[PerryChase]

I see that Fashion Walk is back on and being built, I assume as apartments.

I’ll be watching, Atlas, and other condo development from Bankers’ Hill to Downtown. Downtown is sliding downwards much faster than I expected. Looks like Hillcrest, Bankers Hill and Mission Hills are holding up a lot better.

Lindi, my auntie now shares my dad’s (her brother) house. She’s happy with with living arrangements; and besides, I don’t think that elderly people should live alone. Eventually, they’ll probably move to a condo. Not owning a house anymore, my aunt now has time and money to travel months at a time to Europe to see her brother, New York to visit her sister and Ohio to see my cousin. Her quality of life is now much better. At 84, she’s still in great mental and physical health. She lived an amazing life and I’m learning a lot from her. I expect her to live to 100+.

[PerryChase]

I see that Fashion Walk is back on and being built, I assume as apartments.

I’ll be watching, Atlas, and other condo development from Bankers’ Hill to Downtown. Downtown is sliding downwards much faster than I expected. Looks like Hillcrest, Bankers Hill and Mission Hills are holding up a lot better.

Lindi, my auntie now shares my dad’s (her brother) house. She’s happy with with living arrangements; and besides, I don’t think that elderly people should live alone. Eventually, they’ll probably move to a condo. Not owning a house anymore, my aunt now has time and money to travel months at a time to Europe to see her brother, New York to visit her sister and Ohio to see my cousin. Her quality of life is now much better. At 84, she’s still in great mental and physical health. She lived an amazing life and I’m learning a lot from her. I expect her to live to 100+.

[PerryChase]

I see that Fashion Walk is back on and being built, I assume as apartments.

I’ll be watching, Atlas, and other condo development from Bankers’ Hill to Downtown. Downtown is sliding downwards much faster than I expected. Looks like Hillcrest, Bankers Hill and Mission Hills are holding up a lot better.

Lindi, my auntie now shares my dad’s (her brother) house. She’s happy with with living arrangements; and besides, I don’t think that elderly people should live alone. Eventually, they’ll probably move to a condo. Not owning a house anymore, my aunt now has time and money to travel months at a time to Europe to see her brother, New York to visit her sister and Ohio to see my cousin. Her quality of life is now much better. At 84, she’s still in great mental and physical health. She lived an amazing life and I’m learning a lot from her. I expect her to live to 100+.

[PerryChase]

I like what Mark Zandi of Moody’s economy.com said. It’s a credit squeeze not a credit crunch.

Credit worthy customers are still getting loans. What’s wrong with full doc, careful underwriting? That’s the way it used to be done — by careful bankers who lived in the borrowers’ community and knew credit risks in the local markets.

I don’t see why throwing money at any would be borrower with a pulse is the right thing to do. Sure that boosts the economy in the short term but a crash is inevitable.

Didn’t we lecture Japan for willy nilly lending in the 1980s? Didn’t we lecture the Thai, Malaysian and Korean banks for nepotism and lending to their industrialist friends with no collateral and no credit review, thereby causing the Asian crash of 1997?

We should call what is happening a return to normalcy rather than a credit crunch. Not all borrowers should be given loans.

[PerryChase]

I like what Mark Zandi of Moody’s economy.com said. It’s a credit squeeze not a credit crunch.

Credit worthy customers are still getting loans. What’s wrong with full doc, careful underwriting? That’s the way it used to be done — by careful bankers who lived in the borrowers’ community and knew credit risks in the local markets.

I don’t see why throwing money at any would be borrower with a pulse is the right thing to do. Sure that boosts the economy in the short term but a crash is inevitable.

Didn’t we lecture Japan for willy nilly lending in the 1980s? Didn’t we lecture the Thai, Malaysian and Korean banks for nepotism and lending to their industrialist friends with no collateral and no credit review, thereby causing the Asian crash of 1997?

We should call what is happening a return to normalcy rather than a credit crunch. Not all borrowers should be given loans.

[PerryChase]

I like what Mark Zandi of Moody’s economy.com said. It’s a credit squeeze not a credit crunch.

Credit worthy customers are still getting loans. What’s wrong with full doc, careful underwriting? That’s the way it used to be done — by careful bankers who lived in the borrowers’ community and knew credit risks in the local markets.

I don’t see why throwing money at any would be borrower with a pulse is the right thing to do. Sure that boosts the economy in the short term but a crash is inevitable.

Didn’t we lecture Japan for willy nilly lending in the 1980s? Didn’t we lecture the Thai, Malaysian and Korean banks for nepotism and lending to their industrialist friends with no collateral and no credit review, thereby causing the Asian crash of 1997?

We should call what is happening a return to normalcy rather than a credit crunch. Not all borrowers should be given loans.

[PerryChase]

Lender cannot allow short sales simply because it makes financial sense for them, at the moment.

They need the hardship packages to be completed and submitted for review by several levels of management to make sure it’s legitimate. Otherwise, the fraud will get to a level not seen before. What’s to stop everyone from asking for a short sale? Realty agents, appraisers and bank employees will “engineer” short sales of all kinds to defraud on the way down just like they did on the way up.

Audits and checks and balances are key to a functioning system and during the boom, controls were thrown out the window. The lenders need time to get those control systems back into place.

Also, lenders cannot reward bad investment decisions. If a homeowner has other assets, lenders will not approve a short sale to avoid foreclosure (even if they will ultimately get less in foreclosure). That would be rewarding bad business decisions and encourage it the future.

If word gets out that short sales are a given as soon as a house is on the MLS, and a purchase offer is submitted, then everyone who is underwater will ask for a short sale.

Realtors who thinks that they can market a short sale then present the lender with a fait-accompli doesn’t undertand the business.

[PerryChase]

Lender cannot allow short sales simply because it makes financial sense for them, at the moment.

They need the hardship packages to be completed and submitted for review by several levels of management to make sure it’s legitimate. Otherwise, the fraud will get to a level not seen before. What’s to stop everyone from asking for a short sale? Realty agents, appraisers and bank employees will “engineer” short sales of all kinds to defraud on the way down just like they did on the way up.

Audits and checks and balances are key to a functioning system and during the boom, controls were thrown out the window. The lenders need time to get those control systems back into place.

Also, lenders cannot reward bad investment decisions. If a homeowner has other assets, lenders will not approve a short sale to avoid foreclosure (even if they will ultimately get less in foreclosure). That would be rewarding bad business decisions and encourage it the future.

If word gets out that short sales are a given as soon as a house is on the MLS, and a purchase offer is submitted, then everyone who is underwater will ask for a short sale.

Realtors who thinks that they can market a short sale then present the lender with a fait-accompli doesn’t undertand the business.

[PerryChase]

Lender cannot allow short sales simply because it makes financial sense for them, at the moment.

They need the hardship packages to be completed and submitted for review by several levels of management to make sure it’s legitimate. Otherwise, the fraud will get to a level not seen before. What’s to stop everyone from asking for a short sale? Realty agents, appraisers and bank employees will “engineer” short sales of all kinds to defraud on the way down just like they did on the way up.

Audits and checks and balances are key to a functioning system and during the boom, controls were thrown out the window. The lenders need time to get those control systems back into place.

Also, lenders cannot reward bad investment decisions. If a homeowner has other assets, lenders will not approve a short sale to avoid foreclosure (even if they will ultimately get less in foreclosure). That would be rewarding bad business decisions and encourage it the future.

If word gets out that short sales are a given as soon as a house is on the MLS, and a purchase offer is submitted, then everyone who is underwater will ask for a short sale.

Realtors who thinks that they can market a short sale then present the lender with a fait-accompli doesn’t undertand the business.

[PerryChase]

Poetic justice would be another way to put it.

http://en.wikipedia.org/wiki/Poetic_justice

[PerryChase]

Poetic justice would be another way to put it.

http://en.wikipedia.org/wiki/Poetic_justice

[PerryChase]

Poetic justice would be another way to put it.

http://en.wikipedia.org/wiki/Poetic_justice

[PerryChase]

” she and those like her not only played with matches but they took the whole book of matches preventing some families from being able to light their stove to make dinner”

teleculaguy, you write really well. I enjoy your writing. Great analogy.

“My charity dollars this year went to breast cancer research, the red cross and a homeless shelter. I’m sorry if some of us are a little short on charity and compassion when it comes to the “I bought five houses so I could sell them a year later at a huge profit, effectively stealing from another future family and the 100k in profit I’ll make will impact their ability to send their kids to college and my plan didn’t work out” crowd.”

And you have your priorities right as well.

[PerryChase]

” she and those like her not only played with matches but they took the whole book of matches preventing some families from being able to light their stove to make dinner”

teleculaguy, you write really well. I enjoy your writing. Great analogy.

“My charity dollars this year went to breast cancer research, the red cross and a homeless shelter. I’m sorry if some of us are a little short on charity and compassion when it comes to the “I bought five houses so I could sell them a year later at a huge profit, effectively stealing from another future family and the 100k in profit I’ll make will impact their ability to send their kids to college and my plan didn’t work out” crowd.”

And you have your priorities right as well.

[Author]

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