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SD Realtor
Participantjp congratulations. Regardless of the market you don’t seem to be all that vested with an FHA loan. You may look back someday when people are paying 9% for a mortgage and laugh. It is kind of sad to read that you have so much angst in your heart and hopefully someday you will look back and be glad that you made the purchase.
There are more important things in life then trying to find a bottom.
Participantjp congratulations. Regardless of the market you don’t seem to be all that vested with an FHA loan. You may look back someday when people are paying 9% for a mortgage and laugh. It is kind of sad to read that you have so much angst in your heart and hopefully someday you will look back and be glad that you made the purchase.
There are more important things in life then trying to find a bottom.
Participantjp congratulations. Regardless of the market you don’t seem to be all that vested with an FHA loan. You may look back someday when people are paying 9% for a mortgage and laugh. It is kind of sad to read that you have so much angst in your heart and hopefully someday you will look back and be glad that you made the purchase.
There are more important things in life then trying to find a bottom.
ParticipantI think a 6% rate is a barrier that tends to start to have a pretty tangible effect. Ultimately it makes no sense that there is a given “number” but I still think there is something there. Nonetheless we have seen rates move up almost 20% in the last 90 days. If we see that again then yes I do think you will see an effect. There is a lag time but it still happens.
ParticipantI think a 6% rate is a barrier that tends to start to have a pretty tangible effect. Ultimately it makes no sense that there is a given “number” but I still think there is something there. Nonetheless we have seen rates move up almost 20% in the last 90 days. If we see that again then yes I do think you will see an effect. There is a lag time but it still happens.
ParticipantI think a 6% rate is a barrier that tends to start to have a pretty tangible effect. Ultimately it makes no sense that there is a given “number” but I still think there is something there. Nonetheless we have seen rates move up almost 20% in the last 90 days. If we see that again then yes I do think you will see an effect. There is a lag time but it still happens.
ParticipantI think a 6% rate is a barrier that tends to start to have a pretty tangible effect. Ultimately it makes no sense that there is a given “number” but I still think there is something there. Nonetheless we have seen rates move up almost 20% in the last 90 days. If we see that again then yes I do think you will see an effect. There is a lag time but it still happens.
ParticipantI think a 6% rate is a barrier that tends to start to have a pretty tangible effect. Ultimately it makes no sense that there is a given “number” but I still think there is something there. Nonetheless we have seen rates move up almost 20% in the last 90 days. If we see that again then yes I do think you will see an effect. There is a lag time but it still happens.
February 12, 2011 at 3:18 PM in reply to: LA Times: Option ARMs pose threat to housing market #665378ParticipantI am kind of in the same boat as Scarlet. Those who continue to bang the drum that the housing market cannot be manipulated in any manner regarding inventory, bank bailouts, stimulus, credits, and whatever other tricks are needed obviously have been out in the lobby the past 4 years while we have watched the hocus pocus show.
Alternately I do agree that the ONLY way that I see pricing coming down to reasonable levels is with a substantial rate hike. To me this will not cause a foreclosure tsunami as much as it will simply price to many people out of the market causing a slack in demand. A nice byproduct may indeed be more foreclosures but the govt has already proven they can deal with that effectively.
February 12, 2011 at 3:18 PM in reply to: LA Times: Option ARMs pose threat to housing market #665440ParticipantI am kind of in the same boat as Scarlet. Those who continue to bang the drum that the housing market cannot be manipulated in any manner regarding inventory, bank bailouts, stimulus, credits, and whatever other tricks are needed obviously have been out in the lobby the past 4 years while we have watched the hocus pocus show.
Alternately I do agree that the ONLY way that I see pricing coming down to reasonable levels is with a substantial rate hike. To me this will not cause a foreclosure tsunami as much as it will simply price to many people out of the market causing a slack in demand. A nice byproduct may indeed be more foreclosures but the govt has already proven they can deal with that effectively.
February 12, 2011 at 3:18 PM in reply to: LA Times: Option ARMs pose threat to housing market #666040ParticipantI am kind of in the same boat as Scarlet. Those who continue to bang the drum that the housing market cannot be manipulated in any manner regarding inventory, bank bailouts, stimulus, credits, and whatever other tricks are needed obviously have been out in the lobby the past 4 years while we have watched the hocus pocus show.
Alternately I do agree that the ONLY way that I see pricing coming down to reasonable levels is with a substantial rate hike. To me this will not cause a foreclosure tsunami as much as it will simply price to many people out of the market causing a slack in demand. A nice byproduct may indeed be more foreclosures but the govt has already proven they can deal with that effectively.
February 12, 2011 at 3:18 PM in reply to: LA Times: Option ARMs pose threat to housing market #666176ParticipantI am kind of in the same boat as Scarlet. Those who continue to bang the drum that the housing market cannot be manipulated in any manner regarding inventory, bank bailouts, stimulus, credits, and whatever other tricks are needed obviously have been out in the lobby the past 4 years while we have watched the hocus pocus show.
Alternately I do agree that the ONLY way that I see pricing coming down to reasonable levels is with a substantial rate hike. To me this will not cause a foreclosure tsunami as much as it will simply price to many people out of the market causing a slack in demand. A nice byproduct may indeed be more foreclosures but the govt has already proven they can deal with that effectively.
February 12, 2011 at 3:18 PM in reply to: LA Times: Option ARMs pose threat to housing market #666510ParticipantI am kind of in the same boat as Scarlet. Those who continue to bang the drum that the housing market cannot be manipulated in any manner regarding inventory, bank bailouts, stimulus, credits, and whatever other tricks are needed obviously have been out in the lobby the past 4 years while we have watched the hocus pocus show.
Alternately I do agree that the ONLY way that I see pricing coming down to reasonable levels is with a substantial rate hike. To me this will not cause a foreclosure tsunami as much as it will simply price to many people out of the market causing a slack in demand. A nice byproduct may indeed be more foreclosures but the govt has already proven they can deal with that effectively.
ParticipantBrian my point is that the immigrants who came here built themselves up. Our nation did not “provide” anything special for them. There was no govt window that you went to after Ellis Island that was the “opportunity center”. There was the street. Your declaration of immigrant success in the USA due to govt involvement when compared to immigrant failure in in Europe makes no sense. Yes the USA is a staggerring success when it comes to immigration success story but not because of the govt, but because of the immigrants themselves and the sacrifices they made. That is all I am pointing out. Not because of some special govt program making sure they got their “proportional share” or something like that.
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