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rb_engineer
ParticipantDo you think its reasonable to raise the threshold for conforming loans in California? Maybe to somewhere between Alaska/Hawaii and the rest of the country. Why are Alaska and Hawaii getting this treatment anyway?
ParticipantPerryChase,
I’m just saying don’t be so happy that Cramer is in the your camp today. He will just as easily start pumping LEND next week and forget all about what he said in the video. And no 2/28 will NOT default 100%, some undoubtly has already refinanced, and most of US will not go down 20%.
So you’ll simply walk away from all your investments if you are under water?
ParticipantPerryChase,
I’m just saying don’t be so happy that Cramer is in the your camp today. He will just as easily start pumping LEND next week and forget all about what he said in the video. And no 2/28 will NOT default 100%, some undoubtly has already refinanced, and most of US will not go down 20%.
So you’ll simply walk away from all your investments if you are under water?
ParticipantHe meant everyone since he expects 100% default rate on those loans which implies that everyone will be down 20% and should walk. I hope people don’t cling on his predictions since he’ll stab them in the back a week later.
ParticipantHe meant everyone since he expects 100% default rate on those loans which implies that everyone will be down 20% and should walk. I hope people don’t cling on his predictions since he’ll stab them in the back a week later.
ParticipantAs I have always believed, Jim Cramer should be locked up for what he does and says. His advise now to every single person in the US who bought a house with an 2/28 ARM: “walk away…”
ParticipantAs I have always believed, Jim Cramer should be locked up for what he does and says. His advise now to every single person in the US who bought a house with an 2/28 ARM: “walk away…”
Participantlendingbubbleco,
Now you are saying I’m average. I would disagree with that. I probably can’t answer that question because I just don’t know. I hope it goes down a lot, 50-75% (to pre 2000 levels).
I don’t know why you think that you are “special” because you think SD housing is overpriced. Its blatantly clear that it is!
Maybe because most colleagues of mine are well informed. When one of them buys a house now (a contrarian investor, I would say), most of us roll our eyes expressing our disbelief. We say “hey, why didn’t you wait for the ARMs to reset!”
Participantlendingbubbleco,
Now you are saying I’m average. I would disagree with that. I probably can’t answer that question because I just don’t know. I hope it goes down a lot, 50-75% (to pre 2000 levels).
I don’t know why you think that you are “special” because you think SD housing is overpriced. Its blatantly clear that it is!
Maybe because most colleagues of mine are well informed. When one of them buys a house now (a contrarian investor, I would say), most of us roll our eyes expressing our disbelief. We say “hey, why didn’t you wait for the ARMs to reset!”
Participantlendingbubbleco,
Well, I think you are wrong. The sentiment among regular people (people around me at least) pretty much reflects this blog and many blogs that are out there. Majority are super bear, some do think that things are not going to be as bad as everyone says. But no one I know is bullish and recklessly buying now.
Not sure why we even need to wait for TIME to put it on the cover. Almost all articles that deals with economy nowdays mention US housing recession to a degree. Even a farmer living in a village in China knows about US housing problems.
It could get worse, obviously. But its definitely not good right now.
Participantlendingbubbleco,
Well, I think you are wrong. The sentiment among regular people (people around me at least) pretty much reflects this blog and many blogs that are out there. Majority are super bear, some do think that things are not going to be as bad as everyone says. But no one I know is bullish and recklessly buying now.
Not sure why we even need to wait for TIME to put it on the cover. Almost all articles that deals with economy nowdays mention US housing recession to a degree. Even a farmer living in a village in China knows about US housing problems.
It could get worse, obviously. But its definitely not good right now.
ParticipantI believe that the turning point was the winter of 2005. Before then, sellers were winning and getting the prices that they wanted. Since then, its been a buyer’s market.
ParticipantI believe that the turning point was the winter of 2005. Before then, sellers were winning and getting the prices that they wanted. Since then, its been a buyer’s market.
ParticipantFrom what I heard from people who are from there, prices in bay area are 2X the SD prices. That is, a townhouse in a Mira Mesa type of area is 700K-800K. A single family tract house in CV type of area is 1.5M to 2M.
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