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Reality
Participant[quote=Nor-LA-SD-guy]
For all the talk of the coming tsunami of foreclosures Due to the huge numbers of defaults the reality is that an NOD’s can come from many sources including Over zealous HOA’s etc… and they still rarely end in foreclosure.The reality is at least in CA, is that this is a major Job and entertainment center (and in most places a really nice place to live), and that as long as the home comes in at a good price for the neighborhood, it will find a buyer almost immediately.
What’s a good price ???
I don’t know but maybe look at what’s disappearing (selling) next door in a few days time.
the tsunami is coming, the tsunami is coming[/quote]
Yeah, and they aren’t making any more land either. Whatever.
Gee, you don’t think that maybe the folks in WI who used to live in all those homes on the market also thought their area was a “really nice place to live”. What changed? Don’t say a lack of six figure jobs because they didn’t exist before and aren’t needed to buy in WI.
Prices in the San Diego area mostly TRIPLED between 1997 and 2005, and are still mostly double the 1997 price. I guess the high paying jobs started arriving around 1997. Uh huh.
Participant[quote=Nor-LA-SD-guy]
For all the talk of the coming tsunami of foreclosures Due to the huge numbers of defaults the reality is that an NOD’s can come from many sources including Over zealous HOA’s etc… and they still rarely end in foreclosure.The reality is at least in CA, is that this is a major Job and entertainment center (and in most places a really nice place to live), and that as long as the home comes in at a good price for the neighborhood, it will find a buyer almost immediately.
What’s a good price ???
I don’t know but maybe look at what’s disappearing (selling) next door in a few days time.
the tsunami is coming, the tsunami is coming[/quote]
Yeah, and they aren’t making any more land either. Whatever.
Gee, you don’t think that maybe the folks in WI who used to live in all those homes on the market also thought their area was a “really nice place to live”. What changed? Don’t say a lack of six figure jobs because they didn’t exist before and aren’t needed to buy in WI.
Prices in the San Diego area mostly TRIPLED between 1997 and 2005, and are still mostly double the 1997 price. I guess the high paying jobs started arriving around 1997. Uh huh.
July 17, 2009 at 10:44 AM in reply to: Ethical considerations (none) for defaulting on non-recourse loan. #432535ParticipantThis looks like it’s related to the “short sale tale” thread.
The guy over there can afford the mortgage but wants out because he’s upside down. Even though he may live in the house, that’s an investor to me.
We shouldn’t be bailing out banks period, and certainly not to reward poor investment choices.
July 17, 2009 at 10:44 AM in reply to: Ethical considerations (none) for defaulting on non-recourse loan. #432749ParticipantThis looks like it’s related to the “short sale tale” thread.
The guy over there can afford the mortgage but wants out because he’s upside down. Even though he may live in the house, that’s an investor to me.
We shouldn’t be bailing out banks period, and certainly not to reward poor investment choices.
July 17, 2009 at 10:44 AM in reply to: Ethical considerations (none) for defaulting on non-recourse loan. #433049ParticipantThis looks like it’s related to the “short sale tale” thread.
The guy over there can afford the mortgage but wants out because he’s upside down. Even though he may live in the house, that’s an investor to me.
We shouldn’t be bailing out banks period, and certainly not to reward poor investment choices.
July 17, 2009 at 10:44 AM in reply to: Ethical considerations (none) for defaulting on non-recourse loan. #433120ParticipantThis looks like it’s related to the “short sale tale” thread.
The guy over there can afford the mortgage but wants out because he’s upside down. Even though he may live in the house, that’s an investor to me.
We shouldn’t be bailing out banks period, and certainly not to reward poor investment choices.
July 17, 2009 at 10:44 AM in reply to: Ethical considerations (none) for defaulting on non-recourse loan. #433282ParticipantThis looks like it’s related to the “short sale tale” thread.
The guy over there can afford the mortgage but wants out because he’s upside down. Even though he may live in the house, that’s an investor to me.
We shouldn’t be bailing out banks period, and certainly not to reward poor investment choices.
ParticipantBe a man and pay your obligations.
ParticipantBe a man and pay your obligations.
ParticipantBe a man and pay your obligations.
ParticipantBe a man and pay your obligations.
ParticipantBe a man and pay your obligations.
Participant[quote=Nor-LA-SD-guy]As for this X shaped recovery theory ,
I would say yes we won’t be getting back to 2005 anytime soon, but I don’t know many people driving 26 year old cars either.
Just replacement buying and population growth would get us 70% of the way back at this point.[/quote]
Replacement of what? And population doesn’t increase when jobs are scarce.
Where is the purchasing power coming from? Nothing I see except for inventory manipulation points to higher prices.
Participant[quote=Nor-LA-SD-guy]As for this X shaped recovery theory ,
I would say yes we won’t be getting back to 2005 anytime soon, but I don’t know many people driving 26 year old cars either.
Just replacement buying and population growth would get us 70% of the way back at this point.[/quote]
Replacement of what? And population doesn’t increase when jobs are scarce.
Where is the purchasing power coming from? Nothing I see except for inventory manipulation points to higher prices.
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