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powayseller
ParticipantNancy, so you think they are closing shop to avoid having to repurchase the loans? In the case of Ownit, which was 15% owned by Merrill Lynch, is Merrill responsible for repurchasing the bad loans?
Why hasn’t CA adopted the new lending guidelines, and what do the federally regulated banks think about this uneven playing field? Wells Fargo and Washington Mutual and Citibank have new lending constraints, but their state regulated competitors do not. How long until they complain to the state about this?
ParticipantNancy, so you think they are closing shop to avoid having to repurchase the loans? In the case of Ownit, which was 15% owned by Merrill Lynch, is Merrill responsible for repurchasing the bad loans?
Why hasn’t CA adopted the new lending guidelines, and what do the federally regulated banks think about this uneven playing field? Wells Fargo and Washington Mutual and Citibank have new lending constraints, but their state regulated competitors do not. How long until they complain to the state about this?
ParticipantNancy, so you think they are closing shop to avoid having to repurchase the loans? In the case of Ownit, which was 15% owned by Merrill Lynch, is Merrill responsible for repurchasing the bad loans?
Why hasn’t CA adopted the new lending guidelines, and what do the federally regulated banks think about this uneven playing field? Wells Fargo and Washington Mutual and Citibank have new lending constraints, but their state regulated competitors do not. How long until they complain to the state about this?
ParticipantNancy, so you think they are closing shop to avoid having to repurchase the loans? In the case of Ownit, which was 15% owned by Merrill Lynch, is Merrill responsible for repurchasing the bad loans?
Why hasn’t CA adopted the new lending guidelines, and what do the federally regulated banks think about this uneven playing field? Wells Fargo and Washington Mutual and Citibank have new lending constraints, but their state regulated competitors do not. How long until they complain to the state about this?
ParticipantEconomic Storm Brewing in America
Insider selling is highest since records were kept 20 years ago. Ratio is 60:1
Eric Janszen:
“So perhaps we get a rapid “Ka” event after another quarter or two of the slow motion housing bubble meltdown. There will be a crisis soon. It is imminent. It will likely occur no later than the end of Q1 2007 but perhaps as soon as the end of the current quarter. Whatever USIPs and private equity firms are into, I’m getting out of. They will soon all be selling at the same time.”
ParticipantDebt is not wealth – what a total idiot! The only wealth was created for those smart people who sold their homes, but there are few of us.
December 8, 2006 at 7:35 PM in reply to: thinking buying eventually; any risk in entering 1 year lease now? #41375ParticipantMilitary people will keep moving here if they are ordered, regardless of the housing prices. I have several in my neighborhood, but both wish to return to other states.
I’m curious about the folks coming from other states, and why they don’t mind renting instead of buying.
I have a family member who was offered a health director job for a So. CA county government, at a higher pay than she currently gets in her Midwest job. She wanted to live in CA, and be close to me and my brother. But after checking housing prices, she declined the offer. This is the type of story I hear over and over, but I guess some people will come here anyway, regardless of housing prices.
Someone told me they think that young people will come here to live, regardless of high housing prices, because they will forego the ability to buy, and rent instead, just so they can live the CA lifestyle. But by the time they are older and ready to settle down, they will leave if they can’t buy a house. Did the guy from Georgia fit that profile?
ParticipantIf true, this is catastrophic, esp. if you consider that 70% of buyers have adjustable rate mortgages.
If even half of those people end up having to sell, that would increase our inventory from 22,000 to 90,000 or more. Let’s see, at current sales levels, that’s about 28 months supply. Yikes!
Where’d you get the data? (No way to edit a topic after posting, other than asking Rich to do it for you)
There is actually a lot of pent up demand, according to my realtor friend. I see it too. Look at all the people on piggington who are either priced out, or purposely waiting for prices to drop. Look at all the people going to Open Houses and auctions. Lots of demand out there, but not enough transactions at current prices.
Participantjg, you look more like a young stud than “elderly” 🙂
December 8, 2006 at 10:29 AM in reply to: thinking buying eventually; any risk in entering 1 year lease now? #41350Participantsurveyor, very interesting. Do you know if any of these potential tenants moved here from another area, or why they are renting and not buying?
Participantjg, under the Comment box, just to the left of “preview comment”, is a link called “more information about formatting options”. Click that for instructions on various HTML codes, such as bold, italic, and your question too. That’s where I learned how to do it.
ParticipantPerry, I dont want to correct you. I think your idea is a good one, letting poor people move up financially. I also like your idea about free credit counseling, and it had not occurred to me . All students should study finances as part of every math class.
Participant[img_assist|nid=2195|title=Case-Shiller index for Washington, DC|desc=Does it look like a bubble that’s just starting to pop?|link=node|align=left|width=466|height=350]
ParticipantAN, how does the new zillow program work? Say you have 50 houses you want to see (you need to see a lot, so you know what is a good deal). You would call 50 different listing agents to show you the home, or do you contact the seller directly? If you can just contact the seller, then you can act as your own agent? Pretty cool.
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