[UCGal]

[quote=briansd1][quote=carlsbadworker]People need to understand: foreclosure is not the problem; foreclosure is the solution.
A housing bust is only devastating because it reflects the huge mis-allocation of capital during the housing boom.[/quote]

I agree.

But the problem is what do you do with the millions of people thrown out onto the streets?
[/quote]
Drama much? Thrown on the streets? What makes you think they’ll be homeless?

These people had places to live before they purchased homes they could not make payments on… they can go back to renting, living with parents, house-shares, etc. My mom’s parents never purchased a house and lived a very comfortable, middle class existence. They were never “thrown out on the streets” just because they didn’t own a home. Home ownership is not a requirement for a roof over your head.

[UCGal]

[quote=briansd1][quote=carlsbadworker]People need to understand: foreclosure is not the problem; foreclosure is the solution.
A housing bust is only devastating because it reflects the huge mis-allocation of capital during the housing boom.[/quote]

I agree.

But the problem is what do you do with the millions of people thrown out onto the streets?
[/quote]
Drama much? Thrown on the streets? What makes you think they’ll be homeless?

These people had places to live before they purchased homes they could not make payments on… they can go back to renting, living with parents, house-shares, etc. My mom’s parents never purchased a house and lived a very comfortable, middle class existence. They were never “thrown out on the streets” just because they didn’t own a home. Home ownership is not a requirement for a roof over your head.

[UCGal]

[quote=briansd1][quote=carlsbadworker]People need to understand: foreclosure is not the problem; foreclosure is the solution.
A housing bust is only devastating because it reflects the huge mis-allocation of capital during the housing boom.[/quote]

I agree.

But the problem is what do you do with the millions of people thrown out onto the streets?
[/quote]
Drama much? Thrown on the streets? What makes you think they’ll be homeless?

These people had places to live before they purchased homes they could not make payments on… they can go back to renting, living with parents, house-shares, etc. My mom’s parents never purchased a house and lived a very comfortable, middle class existence. They were never “thrown out on the streets” just because they didn’t own a home. Home ownership is not a requirement for a roof over your head.

[UCGal]

I’ll admit I watch this show – it’s a total trainwreck. Teresa said, while the house was being built, “I could never live in a house that someone lived in before me – that’s ICKY.”

Last nights episode she extorted a HUGE canary diamond from her husband for their 10th anniversary. He admitted to one of the other husbands that “the money isn’t flowing like it used to” – but he still bought a ring they couldn’t afford. (After she made it clear she wasn’t going to be happy with flowers and candy).

It’s so over the top – such a train wreck. These people are poster children for the evils of excess.

Her husband is a contractor… how in the flip did they ever figure a contractor could afford a multi-million dollar house.

[UCGal]

I’ll admit I watch this show – it’s a total trainwreck. Teresa said, while the house was being built, “I could never live in a house that someone lived in before me – that’s ICKY.”

Last nights episode she extorted a HUGE canary diamond from her husband for their 10th anniversary. He admitted to one of the other husbands that “the money isn’t flowing like it used to” – but he still bought a ring they couldn’t afford. (After she made it clear she wasn’t going to be happy with flowers and candy).

It’s so over the top – such a train wreck. These people are poster children for the evils of excess.

Her husband is a contractor… how in the flip did they ever figure a contractor could afford a multi-million dollar house.

[UCGal]

I’ll admit I watch this show – it’s a total trainwreck. Teresa said, while the house was being built, “I could never live in a house that someone lived in before me – that’s ICKY.”

Last nights episode she extorted a HUGE canary diamond from her husband for their 10th anniversary. He admitted to one of the other husbands that “the money isn’t flowing like it used to” – but he still bought a ring they couldn’t afford. (After she made it clear she wasn’t going to be happy with flowers and candy).

It’s so over the top – such a train wreck. These people are poster children for the evils of excess.

Her husband is a contractor… how in the flip did they ever figure a contractor could afford a multi-million dollar house.

[UCGal]

I’ll admit I watch this show – it’s a total trainwreck. Teresa said, while the house was being built, “I could never live in a house that someone lived in before me – that’s ICKY.”

Last nights episode she extorted a HUGE canary diamond from her husband for their 10th anniversary. He admitted to one of the other husbands that “the money isn’t flowing like it used to” – but he still bought a ring they couldn’t afford. (After she made it clear she wasn’t going to be happy with flowers and candy).

It’s so over the top – such a train wreck. These people are poster children for the evils of excess.

Her husband is a contractor… how in the flip did they ever figure a contractor could afford a multi-million dollar house.

[UCGal]

I’ll admit I watch this show – it’s a total trainwreck. Teresa said, while the house was being built, “I could never live in a house that someone lived in before me – that’s ICKY.”

Last nights episode she extorted a HUGE canary diamond from her husband for their 10th anniversary. He admitted to one of the other husbands that “the money isn’t flowing like it used to” – but he still bought a ring they couldn’t afford. (After she made it clear she wasn’t going to be happy with flowers and candy).

It’s so over the top – such a train wreck. These people are poster children for the evils of excess.

Her husband is a contractor… how in the flip did they ever figure a contractor could afford a multi-million dollar house.

[UCGal]

Hmmm not going to try and guess which Pigg is the ibex. LOL

[UCGal]

Hmmm not going to try and guess which Pigg is the ibex. LOL

[UCGal]

Hmmm not going to try and guess which Pigg is the ibex. LOL

[UCGal]

Hmmm not going to try and guess which Pigg is the ibex. LOL

[UCGal]

Hmmm not going to try and guess which Pigg is the ibex. LOL

[UCGal]

Thanks for clarifying.
I watch the auction results (check daily after the dust settles to see what went back to the bank, what went to third parties)… you’re right that a lot of the third party sales have pretty “frothy” sales prices… at least in the areas I pay attention to. Prices that seem to have no “cash discount” or “risk discount” in them. It’s surprised me quite a bit. I’ve also seen some bank set opening bids that are really stratospheric.

I know you’ve got runners down at the steps these days, so you may not have this info…. Does your group see more wannabe investors, or are some of the bids coming from people who want the house to live in?

[UCGal]

Thanks for clarifying.
I watch the auction results (check daily after the dust settles to see what went back to the bank, what went to third parties)… you’re right that a lot of the third party sales have pretty “frothy” sales prices… at least in the areas I pay attention to. Prices that seem to have no “cash discount” or “risk discount” in them. It’s surprised me quite a bit. I’ve also seen some bank set opening bids that are really stratospheric.

I know you’ve got runners down at the steps these days, so you may not have this info…. Does your group see more wannabe investors, or are some of the bids coming from people who want the house to live in?

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