[sdcellar]

Oh, and I know for myself, I didn’t feel her post on this topic (in the past) was irresponsible, just inaccurate.

[sdcellar]

Probably safer to just suck the money out of their house and pay for things that way. I would definitely recommend they plan out their remaining future as best they can, as I’m not sure they’d be able to do it more than once.

I’d run the numbers on both of the options that you listed and after making sure each will cover their expected costs for their remaining years, just pick the one that is most cost effective.

[sdcellar]

And if powayseller had referred to this report and stated that it predicts 2.2 million borrowers will lose their homes, she would have been providing an accurate assessment.

From where I sit, people don’t “gang up” on powayseller. Rather, several independent participants on the site have near simultaneous “what the hell?” reactions to some of the things she says and feel compelled to comment.

[sdcellar]

I think I’m finally getting this median stuff and although I agree with sdrealtor that with so many factors it can be difficult to predict, I’ll do it anyway and say 8%.

[sdcellar]

Is it clear? It’s not to me, and the last thing I’m going to trust is a bunch of articles I find on the Internet. For every quality nugget, there’s also a pile of crap. The web has its place, but it’s not known for consistently reliable data.

On the second bit, are you saying we shouldn’t be concerned about Bin Ladin at all? Is he the Bishop in your example? I agree it’s tough to connect him directly to 9/11, but are you equating him to something good?

[sdcellar]

powayseller,

Please take this crap to the one website that you actually have created.

[sdcellar]

Definitely a whole other world for me to learn about. Is this another one of those kinds of things that’s going to make me feel even more foolish about how much pay in taxes and my inability to work the system?

That kind of thing really pisses me off! (it’d be an entirely different matter, of course, if I were instead the beneficiary of such things…)

[sdcellar]

Same entities? That seems a little odd to me. Anybody got more insight into that? Is it basically an investment thing and the last sale goes to an ordinary party?

[sdcellar]

Actually, the listing is from the same company (Home Auction Advantage) that employed the same approach on another listing that I posted about here.

It seemed to work on that one, although I don’t know yet what it actually sold for. I’ll be interested to see.

[sdcellar]

Steve Beebo, It is possible I’m inferring too much into what you’ve posted in this thread as well as reconciling that with posts you’ve made in others.

Honestly, I can’t tell what you’re trying to say. Sometimes, it seems like you support that a decline is underway and likely to continue. Other times, the opposite. I’ll fully admit it could be my denseness.

[sdcellar]

I really have to agree with sdrealtor (although I do see what you are saying jg). Steve Beebo, are you really not seeing the drop in prices for houses you appraise, and has it not been more significant in many cases than the current decline expressed in the median?

I’ve seen plenty. Admittedly, I’m only looking at a few zip codes, but I have no problem finding homes that sold for significantly less than they were purchased for a year or two ago. You must see this, right, or am I mistaken and you’re not an appraiser?

Median might be useful for determining trends, but as a gauge of what is happening is to specific home values, I’d disagree. Are you saying they are?

[sdcellar]

No sweat. Hope you have a nice dinner!

[sdcellar]

I’m not suggesting we’re headed for a depression (I know far too little to suggest such a thing), but I do think you’re overlooking the ancilliary effects.

Such widespread foreclosure would certainly put extreme downward pressure on home prices across the market. This puts a serious dent in the housing ATM which reduces non-housing related spending.

New home starts would continue to decline (all this inventory is now available), so there would be significant job losses in all housing related fields. Higher unemployment, further reduced spending in all areas.

Reduced spending causes job loss in non-housing related fields, further reduced spending.

It’s never just the one isolated thing, rather cause and effect just as things always have been.

[sdcellar]

The original post

[sdcellar]

I’m not sure if lendingbubbleco… mentioned that it was in Valley Center.

Also, don’t forget that his $120k or so for the down could probably be doing something for him. Savvy investor, that.

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