[vizcaya]

I also did not expect prices to fall this much this soon. I did as much research as I could before I purchased my home late last year, and I estimated that the bottom would be about 30% from peak. Knowing this I purchased a bank owned home that was about 30% below peak(mid 2005 pricing). Prices are currently at about the price I paid. With no real bottom in site, it looks like there will be another 20% drop before prices bottom in my area.

I am here for at least 10-15 years. Therefore the bottom of the cycle will not hurt me. I did lose about $120k in opportunity cost. But since I sold my last home in this same area at peak, I used that money as a down payment, therefore the $120k was bubble money.

[vizcaya]

I also did not expect prices to fall this much this soon. I did as much research as I could before I purchased my home late last year, and I estimated that the bottom would be about 30% from peak. Knowing this I purchased a bank owned home that was about 30% below peak(mid 2005 pricing). Prices are currently at about the price I paid. With no real bottom in site, it looks like there will be another 20% drop before prices bottom in my area.

I am here for at least 10-15 years. Therefore the bottom of the cycle will not hurt me. I did lose about $120k in opportunity cost. But since I sold my last home in this same area at peak, I used that money as a down payment, therefore the $120k was bubble money.

[vizcaya]

Elementary is better than nothing. I followed what the 10yr was doing, and for this situation it worked for me.

My lender does Intra day adjustments, and as I was following what the 10yr was doing during the day(Wed), I saw my lender adjust rates. I went ahead and applied for a loan at 5.125 30 yr fixed. This was when the 10yr was at 3.35 .

This morning my lender has same the 30yr fixed at 6.00.

The 10 yr is up to 3.6.

[vizcaya]

Elementary is better than nothing. I followed what the 10yr was doing, and for this situation it worked for me.

My lender does Intra day adjustments, and as I was following what the 10yr was doing during the day(Wed), I saw my lender adjust rates. I went ahead and applied for a loan at 5.125 30 yr fixed. This was when the 10yr was at 3.35 .

This morning my lender has same the 30yr fixed at 6.00.

The 10 yr is up to 3.6.

[vizcaya]

Elementary is better than nothing. I followed what the 10yr was doing, and for this situation it worked for me.

My lender does Intra day adjustments, and as I was following what the 10yr was doing during the day(Wed), I saw my lender adjust rates. I went ahead and applied for a loan at 5.125 30 yr fixed. This was when the 10yr was at 3.35 .

This morning my lender has same the 30yr fixed at 6.00.

The 10 yr is up to 3.6.

[vizcaya]

Elementary is better than nothing. I followed what the 10yr was doing, and for this situation it worked for me.

My lender does Intra day adjustments, and as I was following what the 10yr was doing during the day(Wed), I saw my lender adjust rates. I went ahead and applied for a loan at 5.125 30 yr fixed. This was when the 10yr was at 3.35 .

This morning my lender has same the 30yr fixed at 6.00.

The 10 yr is up to 3.6.

[vizcaya]

Elementary is better than nothing. I followed what the 10yr was doing, and for this situation it worked for me.

My lender does Intra day adjustments, and as I was following what the 10yr was doing during the day(Wed), I saw my lender adjust rates. I went ahead and applied for a loan at 5.125 30 yr fixed. This was when the 10yr was at 3.35 .

This morning my lender has same the 30yr fixed at 6.00.

The 10 yr is up to 3.6.

[vizcaya]

I have a freind that works as a inventory auditor. She works all the big retail stores in the IE. She says there is a big inventory, and the backrooms are full.

[vizcaya]

I have a freind that works as a inventory auditor. She works all the big retail stores in the IE. She says there is a big inventory, and the backrooms are full.

[vizcaya]

I have a freind that works as a inventory auditor. She works all the big retail stores in the IE. She says there is a big inventory, and the backrooms are full.

[vizcaya]

I have a freind that works as a inventory auditor. She works all the big retail stores in the IE. She says there is a big inventory, and the backrooms are full.

[vizcaya]

I have a freind that works as a inventory auditor. She works all the big retail stores in the IE. She says there is a big inventory, and the backrooms are full.

[vizcaya]

I make 90k, and the most comfortable home purchase, without going broke every payday is a $420k home. This involves me putting about %20 percent down. With a mortage loan of $300k at 5.375, my monthly Payment including taxes and insurance is about $2100 a month.

I cannot understand why someone would think they can afford a $600k or even a $400k mortage with only 90k houshold income.

[vizcaya]

I make 90k, and the most comfortable home purchase, without going broke every payday is a $420k home. This involves me putting about %20 percent down. With a mortage loan of $300k at 5.375, my monthly Payment including taxes and insurance is about $2100 a month.

I cannot understand why someone would think they can afford a $600k or even a $400k mortage with only 90k houshold income.

[vizcaya]

I make 90k, and the most comfortable home purchase, without going broke every payday is a $420k home. This involves me putting about %20 percent down. With a mortage loan of $300k at 5.375, my monthly Payment including taxes and insurance is about $2100 a month.

I cannot understand why someone would think they can afford a $600k or even a $400k mortage with only 90k houshold income.

[Author]

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