tag:blogger.com,1999:blog-18675105.post8907904294337608046..comments2023-12-30T10:06:37.450+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: FLASH: The center no longer holds, and today was the day when it all fell apart. S&P admits to the biggest financial con game of all time.bloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger86125tag:blogger.com,1999:blog-18675105.post-32904464832357076562007-07-14T02:28:00.000+01:002007-07-14T02:28:00.000+01:00Anon 6:56 PM,A lot of homeowners did lie on their ...Anon 6:56 PM,<BR/><BR/>A lot of homeowners did lie on their loans. Some did it on their own, some with their mortgage broker's help and encouragement, and perhaps there were some like you who had it happen without knowing about it, but I don't see how one party is more to blame than another in any of those situations.<BR/><BR/>Why did so many homeowners believe they could afford these houses they were buying without somebody somewhere lying their a$$ off? The majority of FBs had to have known from the beginning that the only way they would be able to afford these over - priced houses was through some kind of miracle in the form of exotic financing (low interest rates helped too). Even if the mortgage broker said he/she would take care of it (out of sight out of mind), the FBs went along with it no questions asked and no concerns because they wanted the house no matter what and it was like banks and lenders were giving away free money. So instead of buying something within their means they went out and purchased houses at prices they knew were over their heads. That is, out of reach unless the mortgage broker (with Greenspan's and Lereah's approval) worked a little magic with the wave of his/her ARM and other toxic potions.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-47128156750735105222007-07-13T04:46:00.000+01:002007-07-13T04:46:00.000+01:00Well, the markets did take a hit...but it's up 2% ...Well, the markets did take a hit...but it's up 2% today.<BR/><BR/>Still waiting for housing to be affordable in the DC area. My salary alone is $20K over the median FAMILY income, I have over $150K in the bank, but I can only afford a junk house.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-47944869081322162602007-07-12T19:56:00.000+01:002007-07-12T19:56:00.000+01:00I am only posting Anonymously because Google has m...I am only posting Anonymously because Google has my account all messed up.<BR/><BR/>I resent the posts with the comments about people "lying" to get mortgages or using otherwise underhanded means. The fact is that many of these subprime lenders were and are crooks of the highest order. ("We'll even do the paperwork for you". Oh yes, you can count on that!) It would be nice to see them exposed for what they are instead of blaming the victims all the time.<BR/><BR/>We had the misfortune of meeting up with lenders who fabricated paperwork, created false HUD documents etc. None would have come to light if we had not later researched (after losing our home) and these facts were discovered. We settled out of court--only because it would have meant another 2 years of ridiculous appeals by them.<BR/><BR/>In my opinion a lot of these subprime lenders deserve to get kicked in the pants. BTW, one of them also committed securities fraud as well.<BR/><BR/>Not all customers lie. I resent the fact that we victims are portrayed as crooks when we were "taken to the cleaners" by these sociopathic professionals. I feel like a rape victim who was blamed for her own violation.<BR/><BR/>I also have no sympathy for the greed which artifically inflated housing prices. In my area I watched as prices doubled within a year, quickly pricing themselves out of reach of the average consumer.<BR/><BR/>I've been waiting to buy again and already seeing price drops of $20,000 or more. Keep 'em coming. I have no tears for those who wanted to get rich quick leaving others literally "out in the cold".Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-85808959731772179202007-07-11T22:56:00.000+01:002007-07-11T22:56:00.000+01:00Planet of the Apes:"Can I be Dr. Zaius?" July 10, ...Planet of the Apes:<BR/><BR/>"Can I be Dr. Zaius?" <BR/><BR/>July 10, 2007 11:23 PM <BR/><BR/><BR/>"Get your hands off of me you damn dirty ape!"Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-43983532336600045072007-07-11T17:44:00.000+01:002007-07-11T17:44:00.000+01:00What will happen to the newly married's getting ou...What will happen to the newly married's getting out of college getting a home?<BR/><BR/>They'll work hard and save money for 5 to 10 years until they have a %20 down payment for a house.......or they'll lay around playing video games and living off their parents.....or they'll get drafted to fight in the middle east. I kinda feel sorry for the next generation.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-42804111672183884042007-07-11T16:05:00.000+01:002007-07-11T16:05:00.000+01:00Look out below folks housing prices are comin on d...Look out below folks housing prices are comin on down this FALL.<BR/><BR/><BR/>Lauravella said: Sept & Oct will definitely be brutal months for homeowners. It will finally dawn on them this subprime mess is affecting them...in selling to anyone - no one will be able to qualify for loans. Prices will plumet by end of the year.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-20824675114714528022007-07-11T15:56:00.000+01:002007-07-11T15:56:00.000+01:00Joel said... So if the stock market is poised for ...Joel said... <BR/>So if the stock market is poised for a fall, where do you put your money? My 401k has such few options I don't know what to do.<BR/> <BR/><BR/>LauraVella said: Very true Joel. I found that most companies only have four funds to chose from, none of them good.<BR/><BR/>Try to transfer to a money market fund. It may go down alittle, but not nearly as much as other funds that are heavy in financials or Reits...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-44859902820863039002007-07-11T15:48:00.000+01:002007-07-11T15:48:00.000+01:00Let us know when you comeand visit planet Earth.~~...Let us know when you come<BR/>and visit planet Earth.<BR/><BR/>~~~<BR/><BR/>Anonymous said... <BR/>None of this matters because the economy is booming! The stock market is...er, iPhones are selling like hotcakes!!! That's proof right there that home prices will keep going up forever!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-56097557305376465102007-07-11T15:45:00.000+01:002007-07-11T15:45:00.000+01:00This will hit us all in the pocket book ... with h...This will hit us all in the pocket book ... with higher taxes, banking fees, and utility costs to <BR/>name just a few.<BR/><BR/>christiangustafson said... <BR/>Hurrah! Hurrah! Let the deflationary end-times begin! Leave no debtor standing!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-27984995580143948892007-07-11T08:11:00.000+01:002007-07-11T08:11:00.000+01:00The yen just soared from 123.2 to 121.2 per dollar...The yen just soared from 123.2 to 121.2 per dollar.<BR/><BR/>Looks like the carry trade is blowing up.<BR/><BR/>Along with Au and Ag, I'd get Swiss Francs in cash... they were also being used in the carry trade, but their home country is probably less susceptible to being nuked by Mad Kim.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1457810284750762162007-07-11T07:14:00.000+01:002007-07-11T07:14:00.000+01:00Let's talk turkey!How will all of this affect inte...Let's talk turkey!<BR/><BR/>How will all of this affect interest rates? home prices? availibility of credit?<BR/><BR/>Leave the CDO and derivitives behind. <BR/><BR/>What will happen to the newly married's getting out of college getting a home?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-67584016172429764832007-07-11T07:11:00.000+01:002007-07-11T07:11:00.000+01:00about gold and silver:Good forumGold Is Moneyabout gold and silver:<BR/><BR/>Good forum<BR/><BR/><A HREF="http://goldismoney.info/forums/" REL="nofollow">Gold Is Money</A>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-89484491171242896942007-07-11T06:56:00.000+01:002007-07-11T06:56:00.000+01:00slingshot said... You HP tools misunderestimate th...slingshot said... <BR/>You HP tools misunderestimate the power of the Fed and it's other central bank buddies around the world. They will inflate away this problem. Why? Because they can. <BR/><BR/>So go ahead and wait for the crash. You'll look awfully foolish when the DOW hits 30K, and your landlord slips a note under the door that your rent is going up again by 10%, this month! Inflation is the future. <BR/><BR/>July 10, 2007 10:39 PM <BR/>---------<BR/><BR/>That won't fly unless They want to pay a matching wage. Which They don't. i.e. Mexicans, China, et alAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-49363146851202004272007-07-11T05:51:00.000+01:002007-07-11T05:51:00.000+01:00Seems like the country's been on a theme the past ...Seems like the country's been on a theme the past decade - do what you want without thinking about the consequences.<BR/><BR/>Ugh.<BR/><BR/>Still got desperate denial out there though - read a comment thread on LA Curbed today where people were downright abusive - using all the old memes about So Cal real estate (they aren't growing more land et alia) and mocking the folks saying it will go down, down, down...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-47609537164768155662007-07-11T05:35:00.000+01:002007-07-11T05:35:00.000+01:00Zilow is off line I always wondered when then got ...Zilow is off line I always wondered when then got really ugly if they would let us watch. Now I know the answer is no know that info was too much power.<BR/><BR/>Technical Difficulties…<BR/> By: Zillow Team, Zillow.com | July 9, 2007<BR/><BR/>As you may have seen on the site, we are experiencing some technical difficulties. We hope to be back up very shortly and apologize for any inconvenience this may cause.<BR/><BR/>UPDATE: All is well and back running. Thanks for your patience.<BR/><BR/>I have heard of people being block out of 401k's when they wanted to make changes this is bad this is really bad like game over bad.burn baby burnhttps://www.blogger.com/profile/01305528692068486872noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-84796783613214754352007-07-11T05:32:00.001+01:002007-07-11T05:32:00.001+01:00I can't believe some of the people here taking gle...I can't believe some of the people here taking glee at other's misfortune. Grow up and get a life.<BR/><BR/>I'm bearish on housing but the people here need some medication. The stock market went down 1% today, and people are talking about the end of the world. Good grief.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-60842243231632097862007-07-11T05:32:00.000+01:002007-07-11T05:32:00.000+01:00Got guns?Got ammo?Got MREs?Got propane?Got water?G...Got guns?<BR/>Got ammo?<BR/>Got MREs?<BR/>Got propane?<BR/>Got water?<BR/>Got gold?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-87036910762270606222007-07-11T05:18:00.000+01:002007-07-11T05:18:00.000+01:00I recommend an ultra short fund known as DOG. Thi...I recommend an ultra short fund known as DOG. This fund will short the DOW 30. It is at a low point and ready to blast off. Good luck!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-59716388725585822982007-07-11T05:13:00.000+01:002007-07-11T05:13:00.000+01:00I wonder if high end homes will fall if all the CE...I wonder if high end homes will fall if all the CEOs go to jail or commit suicide. There will be blood in the streets folks.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-41656269993384326362007-07-11T05:11:00.000+01:002007-07-11T05:11:00.000+01:00Look out below folks housing prices are comin on d...Look out below folks housing prices are comin on down this FALL.<BR/>My landlord called the other day and asked if I would care to stay a couple of extra months. They were moving in here after selling their other home. They live in a neighborhood where houses sell in days usually. 28 days 3 open houses not a soul looking. Wonder how long I will be here??<BR/><BR/>Anyway game on folks don't you wish you had an ARM that was pegged to the chimps approval rating? I guess no money to be made at 0%.<BR/><BR/>Also if you are planning to vacation out of the country better get your tickets now. There will be alot of executives making one way trips the next few months!!!<BR/><BR/>sequoia512Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-18716098066490473372007-07-11T04:57:00.000+01:002007-07-11T04:57:00.000+01:00Slingshot said..."You HP tools misunderestimate th...Slingshot said...<BR/><BR/>"You HP tools misunderestimate the power of the Fed and it's other central bank buddies around the world. They will inflate away this problem. Why? Because they can. <BR/><BR/>So go ahead and wait for the crash. You'll look awfully foolish when the DOW hits 30K, and your landlord slips a note under the door that your rent is going up again by 10%, this month! Inflation is the future."<BR/><BR/>Misunderestimate, huh? I guess you also believe that human being and fish can coexist peacefully. See, I love to use Bushisms too. <BR/><BR/>In response to your actual point, things would be bleak either way. Depression or hyperinflation? Tough choice, especially since they both mean ruin for scores of people and quite possibly the entire country this time.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-8103902829079251832007-07-11T03:53:00.000+01:002007-07-11T03:53:00.000+01:00"think Casey Serin" Everything about the Casey soa..."think Casey Serin" <BR/><BR/><I>Everything</I> about the Casey soap opera is a preview of how the big picture will unfold, I think.Mitchellhttps://www.blogger.com/profile/10768655514143252049noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-9407571063441847472007-07-11T03:40:00.000+01:002007-07-11T03:40:00.000+01:00China today executed 2 Officials responsible for t...<I>China today executed 2 Officials responsible for their Food/Drug Administration labelling.<BR/>If S&P, Moody's and Fitch were Chinese companies, Where their CEO would be now?? </I><BR/><BR/>A bullet in the head is boring. I want the gory, er, glory of some Wall Street ass taking a header into the concrete from 67 floors up. And I want it in High Definition damn it!!!<BR/><BR/>I think the Dollar will take the first dive.AuAgPbhttps://www.blogger.com/profile/10669274294621699295noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-31934759819377321602007-07-11T02:57:00.000+01:002007-07-11T02:57:00.000+01:00slingshot said... You HP tools misunderestimate th...slingshot said... <BR/>You HP tools misunderestimate the power of the Fed and it's other central bank buddies around the world. They will inflate away this problem. Why? Because they can. <BR/><BR/>So go ahead and wait for the crash. You'll look awfully foolish when the DOW hits 30K, and your landlord slips a note under the door that your rent is going up again by 10%, this month! Inflation is the future<BR/>___________________________________<BR/> Why that's great news There Jockstrap,uh slingblade,whatever.<BR/>So now what?Everyone keep moving along,nothing to see here.<BR/>Chommp Chommp ,some popcorn slingsnot.<BR/> Which dildoe factory did you graduate from?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-36630255478398867092007-07-11T02:28:00.000+01:002007-07-11T02:28:00.000+01:00Anonymous said... Don't forget about July 16th. Th...Anonymous said... <BR/>Don't forget about July 16th. That is when the Bear has to come clean and tell its investors how much their investment is now worth. My guess at least a 50% haircut. Once that happens, all hell breaks lose as everyone now has a new "mark". S&P and Moodys just trying to get into the life raft before the tsunami hits. Won't help, the cluster fuck circle jerk that was this FIRE credit bubble BS is going down in flames. <BR/><BR/>Welcome to the Kessel, hope you enjoy your stay....the Battle of Sprawlingrad has begun. <BR/><BR/>The Hedge Funds will be blowing up like a WW II movie, and forget about Redemptions if ya ain't out already.Anonymousnoreply@blogger.com