tag:blogger.com,1999:blog-18675105.post3662283948968015828..comments2024-01-15T12:16:41.302+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: BUBBLETALKbloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger364125tag:blogger.com,1999:blog-18675105.post-18321297737692100582013-03-17T23:23:08.175+00:002013-03-17T23:23:08.175+00:00This comment has been removed by a blog administrator.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-30043465173159743982007-06-03T19:36:00.000+01:002007-06-03T19:36:00.000+01:00No job ... no money ... no website.Doktaire said.....No job ... no money ... no website.<BR/><BR/>Doktaire said... <BR/>Yes, it is true, Casey Serin has pulled down his blog, thus confirming he is an bona fide fool, it was his only monetizable asset. I get the feeling this has been motivated by his wife.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-24399944604839019592007-06-03T19:28:00.000+01:002007-06-03T19:28:00.000+01:00These company mergers and break-ups - translating ...These company mergers and break-ups - translating to massive unemployments for the masses - will continue to grow, as assets depreciate across our economy.<BR/><BR/>It'a a vicious cycle which ends when there's nothing left to gobble-up.<BR/><BR/>burn baby burn said... <BR/>I think we just entered stagflation. GDP at .8%. Dell just announced more layoffs and the mergers continue. It reminds me of the story on the Titanic the band played on as the peoples feet got wet.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-13037828544938605532007-06-03T19:19:00.000+01:002007-06-03T19:19:00.000+01:00Why buy now when it will be cheaper tommorrow?Heck...Why buy now when it will be cheaper tommorrow?<BR/><BR/>Heck ... why buy at all ... it's such a mess, and will continue to be so for quite sometime.<BR/><BR/>Guy Daley said... <BR/>Signs of the times!! Usually you see the new car with the house on an expensive house, but try this one.<BR/><BR/>http://grandrapids.craigslist.org/rfs/342591660.html<BR/><BR/>Opportunity knocks only once. <BR/>Purchase this one-of-a kind, very custom, 1830 sq ft - 3BR/2BA contemporary, builder's model home, far below market value (appraised at $213,000) and pick the color for your NEW Toyota Yaris (34 mpg city/39 mpg hwy). 1.25 acre, heavily treed, cul-de-sac, totally private lot w/way too many features to list. Only 25 minutes north of Grand Rapids. For more information and photos visit www.AppleGateHomes.com or call 616-299-5551.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-89608746324308312562007-06-03T17:58:00.000+01:002007-06-03T17:58:00.000+01:00We once had pride as a country in creating goods a...We once had pride as a country in creating goods and services - creating something of worth, and long-lasting value.<BR/><BR/>Now, we believe in speculative thinking, making something out of nothing - with little or no effort.<BR/><BR/>It works for awhile with clever deceptive marketing - until people catch on - and then things come crashing down hard.<BR/><BR/>Many of those in the realty business - who are now laid off - have little skills for anything else, which can pay them a decent wage.<BR/><BR/>The key is decent sustainable wages, which are not happening in this country for the majority of US citizens who are dispraportionally paying the brunt of taxes.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-87552832847174258462007-06-03T17:38:00.000+01:002007-06-03T17:38:00.000+01:00I think we're now seeing a re-definition of what i...I think we're now seeing a re-definition of what it means to be a "loser".<BR/><BR/>Personally, I believe this country<BR/>is quickly becoming a lost cause, so if we're "winner" here, what's the real benefit?<BR/><BR/>Anonymous said... <BR/>"I have one question for you?<BR/>Why do you feel you should be a first-time home owner?<BR/><BR/>It's that very thought that the realty business used to sucker couples into a mortgage they couldn't afford."<BR/><BR/>Good point. DeBeers has manipulated the sheeple into buying a diamond ring for engagement. Same marketing principle that ends up creating peer and family pressure to buy homes and diamonds, otherwise you are considered a loser. There are people who go into debt to have the white wedding + expensive diamond ring, just to get divorced a few years later. Sorry, hommie don't play that!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-52373871899488143492007-06-03T09:27:00.000+01:002007-06-03T09:27:00.000+01:00"I have one question for you?Why do you feel you s..."I have one question for you?<BR/>Why do you feel you should be a first-time home owner?<BR/><BR/>It's that very thought that the realty business used to sucker couples into a mortgage they couldn't afford."<BR/><BR/>Good point. DeBeers has manipulated the sheeple into buying a diamond ring for engagement. Same marketing principle that ends up creating peer and family pressure to buy homes and diamonds, otherwise you are considered a loser. There are people who go into debt to have the white wedding + expensive diamond ring, just to get divorced a few years later. Sorry, hommie don't play that!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-56939443980509421592007-06-03T07:51:00.000+01:002007-06-03T07:51:00.000+01:00Mioshi ...You just defined what happens *after* a ...Mioshi ...<BR/><BR/>You just defined what happens *after* a bubble bursts.<BR/><BR/>Even with jobs, most people cannot afford the houses they are in; the<BR/>problem is now even worse though because of the layoffs you have mentioned occuring across the country.<BR/><BR/>We're systematically being transformed into a 3rd-world country, where only the top 1% <BR/>can live comfortably.<BR/><BR/>That is a fact - no need to read<BR/>doctored stats from "experts" on how good everything is going - it's a huge lie.<BR/><BR/>Our governing elite do not care because this crisis won't hit their pocket books for quite sometime - and the middle-class will have to bear the brunt of<BR/>the problem with ever increasing taxation.<BR/><BR/>I can't imagine how hard it must be to be laid off now in these times.<BR/><BR/>In order to save this country <BR/>from completely sinking, so much needs to be set right...<BR/><BR/>Housing prices *must* drop rapidly.<BR/><BR/>Out-sourcing of jobs must be minimized, and elimited where possible.<BR/><BR/>Job security must increase for the majority.<BR/><BR/>Health-care and school tuition costs must decrease significantly.<BR/><BR/>...And the list goes on-and-on.<BR/><BR/>Sadly, our administration is doing a fantastic job of quickly sinking this country.<BR/><BR/>Mioshi said... <BR/>There is no housing bubble!! The truth is home sales have slowed down because everyone is nervous because of the many foreclosures that are going on all around them.. It is not only Adjustable Rate Mortgages that balloon after a few years which have people going into foreclosure but the massive amount of layoffs that have been going on around the country.. My dad has been the victim of a layoff which cost over 30,000 people their jobs just a few months ago. And the company he is with now is getting to layoff 40,000 people next week! It is not a housing bubble that has burst it is the fact that the majority of people can no longer afford homes like they used to.. Interest rates are still at a record low and if you are buying this is actually a great time to buy.. If there is anyone reading this is who is interested in purchasing a home and likewise if there is anyone reading this who may be going into foreclosure visit my website http://www.metrohomerealty.com and send me an email or give a call, I am in Minnesota but even if you do not live in my state I can refer you to a real estate professional in your area who can help you..Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-56748094491843647662007-06-03T07:26:00.000+01:002007-06-03T07:26:00.000+01:00Very good point.Unlike a home debter, renters have...Very good point.<BR/><BR/>Unlike a home debter, renters have the opportunity to move much more easily.<BR/><BR/>There is something else to consider here, many home debters depend on renters to pay a good chunk of their mortgage cost.<BR/><BR/>With renters moving out, home debters are going to be in an even bigger mess.<BR/><BR/>Bubble Sitter in Sac said... <BR/>Renters at Risk! Here's one potential downside to bubblesitting--<BR/><BR/>http://www.kcra.com/news/13416428/detail.html<BR/><BR/>Beware bubblesitters: A renter's lease can be ended abruptly (30 days's notice in Calif) if the house that you're renting is foreclosed upon. To help mitigate this problem for us bubblesitters who rent, my suggestion would be to try to find out from Zillow and county tax assessor records if the house that you're planning on renting is at risk to default based on the date the owner purchased it. I would assume that any home purchased during the runup, let's say after 2001 or so but especially near the height of market in 2005, could possibly put a renter at risk of being evicted due to a foreclosure.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-29266305538495263752007-06-03T07:21:00.001+01:002007-06-03T07:21:00.001+01:00Forclosdures will increase that much more rapidly ...Forclosdures will increase that much more rapidly now, adding more homes to the ever-increasing supply of homes on the market.<BR/><BR/>Not pretty, but inevitable considering how over-valued<BR/>everything was.<BR/><BR/>Anonymous said... <BR/>7% By the end of the year!!! Ouch!!!<BR/><BR/>Mortgage rate rise pressures housing recovery<BR/>Continued rate increases may discourage home buyers, pushing back recovery forecasts.<BR/>By Les Christie, CNNMoney.com staff writer<BR/>May 31 2007: 12:44 PM EDT<BR/><BR/><BR/>NEW YORK (CNNMoney.com) -- Mortgage rates went up again this past week, putting more pressure on a weak housing market and further dimming prospects for a quick recovery.<BR/><BR/>Low rates helped create and sustain the last housing boom. And rates remained manageable over the past two years as the market fell, buoying prices and enabling the bubble to deflate gradually rather than with a sharp pop.<BR/><BR/>But now, rates on a 30-year, fixed-rate mortgage, which have floated in a narrow range of 6.14 percent to 6.34 percent all year, have begun a steady rise. Doug Duncan, chief economist for the Mortgage Bankers Association (MBA), expects them to top out near 7 percent by the end of the year.<BR/><BR/>Rising rates, among other factors, have caused the MBA and the National Association of Realtors to push back their forecasts for a home-price recovery. Both groups are now looking to early 2008, compared with a previous outlook for mid-2007.<BR/><BR/>On Thursday, Freddie Mac (Charts, Fortune 500), the government-sponsored buyer of mortgage loans, reported that the interest rate on the average 30-year fixed had moved up to 6.42 percent, the survey's highest level since August, 2006.<BR/><BR/>Investors seem to be betting against any quick housing market recovery <BR/>Mortgage rates are based on the yields of 10-year Treasury notes, which have also risen substantially this month, as strong global stock market returns have lured investors away from bonds, lowering their prices.<BR/><BR/>Robust economic growth outside of the housing market with healthy consumer and improving business spending has added to strong interest rate increases, according to a statement from Frank Nothaft, Freddie Mac's chief economist.<BR/><BR/>When interest rates rise, they add to the size of a borrower's monthly mortgage payment. Rates had been at 6.16 percent as recently as May 3. The 0.26 percent increase since then represents a jump of $30 a month on a $200,000 loan.<BR/><BR/>Buyers look carefully at monthly payments to gauge a home's affordability. Higher monthly costs can limit the amount they can offer for a home.<BR/><BR/>And if rates do go as high as 7 percent, that could have a substantial impact on buying patterns, according to Keith Gumbinger of financial publisher HSH Associates, which tracks the mortgage industry.<BR/><BR/>"It would make it more likely that [buyers] would sit on the sidelines," he said. "That would put downward pressure on housing prices."<BR/><BR/>Fed: Risks to the economy lessen <BR/>Industry experts have been looking to the Federal Reserve to see where mortgage rates are headed. So far, however, the Fed appears to be sitting tight.<BR/><BR/>"The Fed is probably set for the next 12 months," said Michael Marriott, managing director of Credit Suisse, before a session to discuss the state of the mortgage lending industry at the MBA's National Secondary Market Conference & Expo in New York last week.<BR/><BR/>According to Marriott, however, the worse the housing market gets, the more likely the Fed will begin aggressively cutting rates.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-2250791921137289512007-06-03T07:21:00.000+01:002007-06-03T07:21:00.000+01:00What are the odds? A day before the Democratic deb...What are the odds? A day before the Democratic debate, law enforcement busts "a terrorism plot" to explode JFK's Airport fuel tanks. Sure Karl Rove, we believe it...NOT! As usual, the mastermind terrorists are a bunch on Muslims nobody's, from the "terrorism hot stop Guiana". The White House or Giuliani couldn't come up with anything less convincing than this pile of crap? Wow, Bush ratings are going to go up and Giuliani is going to save us all. And the sheeple believes it.<BR/><BR/>People, don't believe a word that comes out of DHS, White House, or MSM. If they really wanted to protect us from terrorism threats (another tool to take advantage of the sheeple), this administration wouldn't leave that Mexican border totally open for so many years or wouldn't be working so hard to give citizenship to 20 million strangers with obscure backgrounds that cannot be checked accurately.<BR/><BR/>First they framed those pizza delivery nobody's as the "terror cell" (wow, Tom Clancy will write a book about this "organized and dangerous cell of pizza delivery drivers!) who was going to invade the Army facility. Since nobody believed in that one either, the White House or Giuliani's dark groups are trying to come up with something more theatrical to frighten the sheeple to death, like exploding the JFK Airport, which experts already confirmed (and laughed about it) that it would be very unlikely that those tanks or the entire pipe network could explode on this manner.<BR/><BR/>By looking at these desperate attempts from the White House or other dark groups who want to elect Giuliani, makes us think of which extreme measures they are willing apply if by 2008 Ron Paul or any democrat is ahead on the polls. Are they going to create once again another 9-11? Very possible.<BR/><BR/>Don't believe in any of this.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-77848464272131603542007-06-03T07:14:00.000+01:002007-06-03T07:14:00.000+01:00I have one question for you?Why do you feel you sh...I have one question for you?<BR/>Why do you feel you should be a first-time home owner?<BR/><BR/>It's that very thought that the realty business used to sucker couples into a mortgage they couldn't afford.<BR/><BR/>There is nothing to be ashamed of because you rent - hey - you're smarter then many, and you should be congratulating yourself.<BR/><BR/>We have entered a recessionary period, and as job growth declines (despite the forged statistics you may read or here people spew out), you'll be in a *far* better position then those paying growing mortgage fees on an ever-depreciating asset.<BR/><BR/>DCView said... <BR/>Prices have been slow to crash here in DC/Northern Virginia also. People still believe that because the government is here and there are so many jobs the housing market is protected. Some of the asking prices are even up which is odd although some are down (but slowly people are pathetically knocking off $5,000 or $10,000 at a time). I am frustrated as my husband and I are both in our early 30’s and should be first time home buyers by now. I am not interested in a condo…we want kids and are beyond that sort of lifestyle now. A backyard with grass would be nice as we like cookouts. However, we aren’t willing to pay $3,000.00 for a mortgage/taxes/hoa fees etc. per month for a townhouse (and not even a luxury one at that as these run even higher). I am hoping that we aren’t forced to rent another 2 years but it is looking that we might have to. <BR/><BR/>I am also curious if the housing market and fed rates are at all tied to the current Bush administration. Will we see sudden price drops in Jan 09 when he finally leaves office? Is the administration keeping this thing going and leaving the mess for the next administration? Its looking that way.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-6554436747494425832007-06-03T07:07:00.000+01:002007-06-03T07:07:00.000+01:00Right on. :)As the selling price of over-inflated ...Right on. :)<BR/><BR/>As the selling price of over-inflated and growing housing inventory continues to drop, would-be flippers will enter the game - only to find that prices will continue to drop.<BR/><BR/>Anonymous said... <BR/>haha...Is this mioshi for real? Must be a joke. Let me get this straight, there are no jobs but it's a great time to buy. Ask you father to buy a couple flips since it's a great time to buy. Also, while you are at it, ask your father and his laid-off friends how they feel about voting for Bush twice. Nice economy, huh?<BR/><BR/>Sorry to tell you Mioshi, but you are next. I heard Wal-Mart (China) and McDonalds are hiring. You can always contact the Bush and his Republican pals to ask for a job.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-40220583601324494762007-06-03T01:44:00.000+01:002007-06-03T01:44:00.000+01:00just got an email back from the guy selling his ho...just got an email back from the guy selling his home near Grand Rapids MI, this is what he said, "I just returned from Big Sky, MT after being there 8 mos. It's way worse here than anyone can imagine. I've been advertising for 1 month and not one call. Unemployment is double or triple what they are saying."<BR/><BR/>Let thanks Bush, his associates and the media shills for pushing an extra 20 million illegals on us when we are in the midst of a recession.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-23854305403548474732007-06-02T22:52:00.000+01:002007-06-02T22:52:00.000+01:00How about a game of fill-in-the-blank?You would ha...How about a game of fill-in-the-blank?<BR/><BR/>You would have to be dumber than ______ to consider buying a house at market prices in ______ right now.<BR/><BR/>I'll go with "a box full of hair" and "Phoenix". Bet you can't ace me.<BR/><BR/>No wait. "Pat Buchanan", and "Boise".Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-67596775998024320802007-06-02T22:49:00.000+01:002007-06-02T22:49:00.000+01:00Mioshi said:"It is not a housing bubble that has b...Mioshi said:<BR/><BR/>"It is not a housing bubble that has burst it is the fact that the majority of people can no longer afford homes like they used to"<BR/><BR/>-----------------------------<BR/><BR/>Really. Employment hasn't tanked, wages haven't tanked, home prices have gone up around 100% over the last 5 years in many locales, so "the fact that the majority of people can no longer afford homes like they used to" doesn't indicate a bubble? The fact that sales have slowed to a crawl, foreclosures have gone through the roof, and prices have begun to fall <I>nationally</I> doesn't indicate that it's begun to burst? What precisely do you think is meant by "bubble" and "burst"? Maybe you should save your wisdom for the Bloodhound Blog, your capacity for reasoning would be appreciated there.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-50652704250480556362007-06-02T20:57:00.000+01:002007-06-02T20:57:00.000+01:00Signs of the times!! Usually you see the new car ...Signs of the times!! Usually you see the new car with the house on an expensive house, but try this one.<BR/><BR/>http://grandrapids.craigslist.org/rfs/342591660.html<BR/><BR/><B>Opportunity knocks only once. <BR/>Purchase this one-of-a kind, very custom, 1830 sq ft - 3BR/2BA contemporary, builder's model home, far below market value (appraised at $213,000) and pick the color for your NEW Toyota Yaris (34 mpg city/39 mpg hwy). 1.25 acre, heavily treed, cul-de-sac, totally private lot w/way too many features to list. Only 25 minutes north of Grand Rapids. For more information and photos visit www.AppleGateHomes.com or call 616-299-5551. </B><BR/><BR/>WE have trolltards saying the economy is flourishing because they just read the headlines from the media shills. I think even they would have to say Michigan is excluded from the "boom". But what is the next state we have to exclude and after that? The "official" unemployment rate is one of the most laughable non-statistics that government has been able to conjure. Our government is DISEASED and its going to take its citizens down with it.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-42509151150016536712007-06-02T07:41:00.000+01:002007-06-02T07:41:00.000+01:00haha...Is this mioshi for real? Must be a joke. Le...haha...Is this mioshi for real? Must be a joke. Let me get this straight, there are no jobs but it's a great time to buy. Ask you father to buy a couple flips since it's a great time to buy. Also, while you are at it, ask your father and his laid-off friends how they feel about voting for Bush twice. Nice economy, huh?<BR/><BR/>Sorry to tell you Mioshi, but you are next. I heard Wal-Mart (China) and McDonalds are hiring. You can always contact the Bush and his Republican pals to ask for a job.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-79338101627924950492007-06-02T05:19:00.000+01:002007-06-02T05:19:00.000+01:00http://tinyurl.com/yuwlominsider trading , stock m...http://tinyurl.com/yuwlom<BR/><BR/><BR/>insider trading , stock market......insiders getting out......but cramer says it is going to 14000........hmmm......do the figures lie? nope.....<BR/><BR/>get out of the market now , if you can.....Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-5956089211678438232007-06-02T00:45:00.000+01:002007-06-02T00:45:00.000+01:00Prices have been slow to crash here in DC/Northern...Prices have been slow to crash here in DC/Northern Virginia also. People still believe that because the government is here and there are so many jobs the housing market is protected. Some of the asking prices are even up which is odd although some are down (but slowly people are pathetically knocking off $5,000 or $10,000 at a time). I am frustrated as my husband and I are both in our early 30’s and should be first time home buyers by now. I am not interested in a condo…we want kids and are beyond that sort of lifestyle now. A backyard with grass would be nice as we like cookouts. However, we aren’t willing to pay $3,000.00 for a mortgage/taxes/hoa fees etc. per month for a townhouse (and not even a luxury one at that as these run even higher). I am hoping that we aren’t forced to rent another 2 years but it is looking that we might have to. <BR/><BR/>I am also curious if the housing market and fed rates are at all tied to the current Bush administration. Will we see sudden price drops in Jan 09 when he finally leaves office? Is the administration keeping this thing going and leaving the mess for the next administration? Its looking that way.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-74550782963675943742007-06-02T00:37:00.000+01:002007-06-02T00:37:00.000+01:007% By the end of the year!!! Ouch!!!Mortgage rate...7% By the end of the year!!! Ouch!!!<BR/><BR/>Mortgage rate rise pressures housing recovery<BR/>Continued rate increases may discourage home buyers, pushing back recovery forecasts.<BR/>By Les Christie, CNNMoney.com staff writer<BR/>May 31 2007: 12:44 PM EDT<BR/><BR/><BR/>NEW YORK (CNNMoney.com) -- Mortgage rates went up again this past week, putting more pressure on a weak housing market and further dimming prospects for a quick recovery.<BR/><BR/>Low rates helped create and sustain the last housing boom. And rates remained manageable over the past two years as the market fell, buoying prices and enabling the bubble to deflate gradually rather than with a sharp pop.<BR/> <BR/>But now, rates on a 30-year, fixed-rate mortgage, which have floated in a narrow range of 6.14 percent to 6.34 percent all year, have begun a steady rise. Doug Duncan, chief economist for the Mortgage Bankers Association (MBA), expects them to top out near 7 percent by the end of the year.<BR/><BR/>Rising rates, among other factors, have caused the MBA and the National Association of Realtors to push back their forecasts for a home-price recovery. Both groups are now looking to early 2008, compared with a previous outlook for mid-2007.<BR/><BR/>On Thursday, Freddie Mac (Charts, Fortune 500), the government-sponsored buyer of mortgage loans, reported that the interest rate on the average 30-year fixed had moved up to 6.42 percent, the survey's highest level since August, 2006.<BR/><BR/>Investors seem to be betting against any quick housing market recovery <BR/>Mortgage rates are based on the yields of 10-year Treasury notes, which have also risen substantially this month, as strong global stock market returns have lured investors away from bonds, lowering their prices.<BR/><BR/>Robust economic growth outside of the housing market with healthy consumer and improving business spending has added to strong interest rate increases, according to a statement from Frank Nothaft, Freddie Mac's chief economist.<BR/><BR/>When interest rates rise, they add to the size of a borrower's monthly mortgage payment. Rates had been at 6.16 percent as recently as May 3. The 0.26 percent increase since then represents a jump of $30 a month on a $200,000 loan.<BR/><BR/>Buyers look carefully at monthly payments to gauge a home's affordability. Higher monthly costs can limit the amount they can offer for a home.<BR/><BR/>And if rates do go as high as 7 percent, that could have a substantial impact on buying patterns, according to Keith Gumbinger of financial publisher HSH Associates, which tracks the mortgage industry.<BR/><BR/>"It would make it more likely that [buyers] would sit on the sidelines," he said. "That would put downward pressure on housing prices."<BR/><BR/>Fed: Risks to the economy lessen <BR/>Industry experts have been looking to the Federal Reserve to see where mortgage rates are headed. So far, however, the Fed appears to be sitting tight.<BR/><BR/>"The Fed is probably set for the next 12 months," said Michael Marriott, managing director of Credit Suisse, before a session to discuss the state of the mortgage lending industry at the MBA's National Secondary Market Conference & Expo in New York last week.<BR/><BR/>According to Marriott, however, the worse the housing market gets, the more likely the Fed will begin aggressively cutting rates.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-42636423862940455582007-06-01T23:42:00.000+01:002007-06-01T23:42:00.000+01:00Renters at Risk! Here's one potential downside to ...Renters at Risk! Here's one potential downside to bubblesitting--<BR/><BR/>http://www.kcra.com/news/13416428/detail.html<BR/><BR/>Beware bubblesitters: A renter's lease can be ended abruptly (30 days's notice in Calif) if the house that you're renting is foreclosed upon. To help mitigate this problem for us bubblesitters who rent, my suggestion would be to try to find out from Zillow and county tax assessor records if the house that you're planning on renting is at risk to default based on the date the owner purchased it. I would assume that any home purchased during the runup, let's say after 2001 or so but especially near the height of market in 2005, could possibly put a renter at risk of being evicted due to a foreclosure.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-74706410270336967362007-06-01T23:01:00.000+01:002007-06-01T23:01:00.000+01:00There is no housing bubble!! The truth is home sa...There is no housing bubble!! The truth is home sales have slowed down because everyone is nervous because of the many foreclosures that are going on all around them.. It is not only Adjustable Rate Mortgages that balloon after a few years which have people going into foreclosure but the massive amount of layoffs that have been going on around the country.. My dad has been the victim of a layoff which cost over 30,000 people their jobs just a few months ago. And the company he is with now is getting to layoff 40,000 people next week! It is not a housing bubble that has burst it is the fact that the majority of people can no longer afford homes like they used to.. Interest rates are still at a record low and if you are buying this is actually a great time to buy.. If there is anyone reading this is who is interested in purchasing a home and likewise if there is anyone reading this who may be going into foreclosure visit my website http://www.metrohomerealty.com and send me an email or give a call, I am in Minnesota but even if you do not live in my state I can refer you to a real estate professional in your area who can help you..Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-55915394706738965992007-06-01T22:26:00.000+01:002007-06-01T22:26:00.000+01:00http://news.yahoo.com/s/ap/20070601/ap_en_tv/house...http://news.yahoo.com/s/ap/20070601/ap_en_tv/house_flipper_investigation<BR/><BR/>Did you catch this one on yahoo?<BR/><BR/>'Flip This House' star accused of fraud<BR/><BR/>ATLANTA - On an episode of A&E's popular reality series "Flip This House," Atlanta businessman Sam Leccima sits in front of a run-down house and calls buying and selling real estate his passion.<BR/><BR/>Now authorities and legal filings claim that Leccima's true passion was a series of scams that included faking the home renovations shown on the cable TV show and claiming to have sold houses he never owned.<BR/><BR/>-=snip=-<BR/><BR/>Who here is surprised at this?<BR/><BR/>Not me...Unknownhttps://www.blogger.com/profile/09833211033844942379noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-87736020965727791302007-06-01T21:41:00.000+01:002007-06-01T21:41:00.000+01:00Fix This House TV show fraud....http://tinyurl.com...Fix This House TV show fraud....<BR/><BR/>http://tinyurl.com/2qxnql<BR/><BR/>LMAO!Anonymousnoreply@blogger.com