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SHILOH
ParticipantI suppose Bush could say that about buyers to set us up to feel sorry for their “ignorance” about what they were getting into. Add that to the RE CEOs not having a clue either. I don’t think either is believable. Buyers banked on an upward trend w/o understanding the risk – maybe. But RE CEOs…their qualifications are sorely lacking if they couldn’t see what was being set up. What use is a CEO who so clearly lacks knowledge and leadership? This is a masquerade to cry to the GOV to float the whole mess, and pay for their big hysteria party.
“Housing market collapse should not surprise anyone
Some industry leaders turn a blind eye to past trends”
By RACHEL BECK, (AP)
NEW YORK – “Century 21 Real Estate CEO Thomas Kunz may have unintentionally hit the nail on the head when he declared that a “pity party” is gripping the housing industry right now.
Many recent home buyers are expressing shock that their properties might be worth a lot less than when they bought them. CEOs like Countrywide Financial Corp.’s Angelo Mozilo are claiming that “nobody saw” the deterioration of real estate values coming, and are pointing fingers at others for causing this mess. And Wall Street seems to only now be waking up to the implications of mortgage securities imploding.”FROM: http://www.theeagle.com/stories/080507/business_20070805002.php?ref=patrick.net
ParticipantI suppose Bush could say that about buyers to set us up to feel sorry for their “ignorance” about what they were getting into. Add that to the RE CEOs not having a clue either. I don’t think either is believable. Buyers banked on an upward trend w/o understanding the risk – maybe. But RE CEOs…their qualifications are sorely lacking if they couldn’t see what was being set up. What use is a CEO who so clearly lacks knowledge and leadership? This is a masquerade to cry to the GOV to float the whole mess, and pay for their big hysteria party.
“Housing market collapse should not surprise anyone
Some industry leaders turn a blind eye to past trends”
By RACHEL BECK, (AP)
NEW YORK – “Century 21 Real Estate CEO Thomas Kunz may have unintentionally hit the nail on the head when he declared that a “pity party” is gripping the housing industry right now.
Many recent home buyers are expressing shock that their properties might be worth a lot less than when they bought them. CEOs like Countrywide Financial Corp.’s Angelo Mozilo are claiming that “nobody saw” the deterioration of real estate values coming, and are pointing fingers at others for causing this mess. And Wall Street seems to only now be waking up to the implications of mortgage securities imploding.”FROM: http://www.theeagle.com/stories/080507/business_20070805002.php?ref=patrick.net
ParticipantI don’t think paying 50% for housing supports a healthy local economy –regardless of adjusting to it psychologically for survival.
ParticipantI don’t think paying 50% for housing supports a healthy local economy –regardless of adjusting to it psychologically for survival.
ParticipantI don’t think paying 50% for housing supports a healthy local economy –regardless of adjusting to it psychologically for survival.
ParticipantHere is a link that shows some obvious numbers:
http://www.sandiegopredatorylending.com/?p=27
The article is titled “Countrywide’s REOs Up 21% in July”ParticipantHere is a link that shows some obvious numbers:
http://www.sandiegopredatorylending.com/?p=27
The article is titled “Countrywide’s REOs Up 21% in July”ParticipantHere is a link that shows some obvious numbers:
http://www.sandiegopredatorylending.com/?p=27
The article is titled “Countrywide’s REOs Up 21% in July”Participant“home prices won’t fall for the simple reason that the majority of home owners out there don’t need to sell and have more than enough equity that is the market stays slow they just won’t sell.”
This could be a true statement in a different market. But it doesn’t describe what is happening in the current housing market in the entire country and around the globe.
Participant“home prices won’t fall for the simple reason that the majority of home owners out there don’t need to sell and have more than enough equity that is the market stays slow they just won’t sell.”
This could be a true statement in a different market. But it doesn’t describe what is happening in the current housing market in the entire country and around the globe.
Participant“home prices won’t fall for the simple reason that the majority of home owners out there don’t need to sell and have more than enough equity that is the market stays slow they just won’t sell.”
This could be a true statement in a different market. But it doesn’t describe what is happening in the current housing market in the entire country and around the globe.
ParticipantHow many rich Sony execs are moving here?
I can’t even remember the last time I bought something made by Sony.Can one company of employees like Sony float the whole bloated SD housing market? Unless companies like Sony plan to pay their employees big $$ —while raising prices on their sub-standard consumer market products…then they -like all the rest — can’t afford to do business in SD.
The fact is…it’s been said ad nauseam on this blog—the fundamentals: median incomes do not support mortgages that are 10X the median income. If housing costs suck up all the “expendable” income…consumers have no money to consume on all the stuff they want us to buy.
It’s also been said before that there comes a point when home “ownership” costs are not worth it, where renting allows for more financial stability.
It’s a nice thought to think that employers like Sony will move in — but to keep prices high because of all their rich execs –begs the question how much will that cost Sony -and how many execs are there??
ParticipantHow many rich Sony execs are moving here?
I can’t even remember the last time I bought something made by Sony.Can one company of employees like Sony float the whole bloated SD housing market? Unless companies like Sony plan to pay their employees big $$ —while raising prices on their sub-standard consumer market products…then they -like all the rest — can’t afford to do business in SD.
The fact is…it’s been said ad nauseam on this blog—the fundamentals: median incomes do not support mortgages that are 10X the median income. If housing costs suck up all the “expendable” income…consumers have no money to consume on all the stuff they want us to buy.
It’s also been said before that there comes a point when home “ownership” costs are not worth it, where renting allows for more financial stability.
It’s a nice thought to think that employers like Sony will move in — but to keep prices high because of all their rich execs –begs the question how much will that cost Sony -and how many execs are there??
ParticipantHow many rich Sony execs are moving here?
I can’t even remember the last time I bought something made by Sony.Can one company of employees like Sony float the whole bloated SD housing market? Unless companies like Sony plan to pay their employees big $$ —while raising prices on their sub-standard consumer market products…then they -like all the rest — can’t afford to do business in SD.
The fact is…it’s been said ad nauseam on this blog—the fundamentals: median incomes do not support mortgages that are 10X the median income. If housing costs suck up all the “expendable” income…consumers have no money to consume on all the stuff they want us to buy.
It’s also been said before that there comes a point when home “ownership” costs are not worth it, where renting allows for more financial stability.
It’s a nice thought to think that employers like Sony will move in — but to keep prices high because of all their rich execs –begs the question how much will that cost Sony -and how many execs are there??
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