Page 4 of 6 FirstFirst ... 23456 LastLast
Results 31 to 40 of 53

Thread: Home Sales Decline Unexpectedly

  1. #31
    Guru
    Crunch's Avatar
    Join Date
    Mar 2009
    Last Seen
    12-21-10 @ 05:24 PM
    Gender
    Lean
    Conservative
    Posts
    4,063

    Re: Home Sales Decline Unexpectedly

    Quote Originally Posted by Middleground View Post
    See, that's the thing. I don't think the latter is quite common. Yes, when people lose their jobs, or **** happens, then yeah, chances are the will default. But I have a hard time seeing people buying TVs, cars, trips, and furs over making mortgage payments.
    Obviously you have never been in the "Real Estate" business... I've seen people get financing on a new home and 3 days before closing, go out and buy a new car........ swoosh........ there went the financing.

    What has not been talked about much since this whole crisis, is lenders not caring about who they are lending to. To me, that is beyond reason to the point where I cannot even phathom it. But it did happen. People making less that $30,000 were allowed/encouraged to buy houses with values over $500,000. That's insane, and a huge cause of the housing crisis.
    You can thank Acorn for part of that.... they brought law suits and blockaded lenders that refused minorities mortgages that they couldn't afford. You can also thank the Libs for passing laws that required low income loans for housing to people that couldn't afford them, and then blocking any attempt to investigate and reform those stupid laws. You can also thank the Republicans for not having the guts to over ride all the above.

  2. #32
    Sage
    scourge99's Avatar
    Join Date
    Aug 2007
    Location
    The Wild West
    Last Seen
    01-27-12 @ 02:50 AM
    Lean
    Moderate
    Posts
    6,233

    Re: Home Sales Decline Unexpectedly

    Quote Originally Posted by The Prof View Post
    indeed!

    how many of us know personally people who are trapped inside houses on which they owe significantly more than the homes are worth, with $3000 per month mortgages?

    i know several (they're school teachers)

    they planned on refinancing, as you appreciate

    how many of us are personally in such an upside down position?

    it's tragic, i agree

    cliff
    For people who plan on living in their homes then this isn't an issue unless they need to move in the next couple years.

    For people who view their home a short term investment it is very bad. But there is risk in any investment. Homes are not immune to this.
    Last edited by scourge99; 09-25-09 at 03:22 PM.
    If you believe in the Supernatural then you can become a millionaire!

    Questioning or criticizing another's core beliefs is inadvertently perceived as offensive and rude.

  3. #33
    Guru
    Crunch's Avatar
    Join Date
    Mar 2009
    Last Seen
    12-21-10 @ 05:24 PM
    Gender
    Lean
    Conservative
    Posts
    4,063

    Re: Home Sales Decline Unexpectedly

    Quote Originally Posted by Truth Detector View Post
    I am always amused at the notions that the Government can control anything and that with more Government interventions all risk in life can be avoided.

    The FACT is that home prices will continue to decline as unemployment continues to climb with no end in sight and jobs continue to vanish. Many home owners who have been looking for jobs since the beginning of this "Change" Administration have been staring foreclosure in the face and now the beginning of a new wave of foreclosures and further declines in home prices can be expected.

    BUT, the news we are not hearing is an impending tide of Commercial foreclosures on the horizon which will once again exacerbate the real estate markets decline and cause further job losses.
    The commercial forecloses will make the current market look like a pimple next to that hand grenade that just went off in your belly... this is a real serious problem that if the government gets involved in solving, buy bullets and freeze dried food.

    By next year when Democrats are finally honest with the American people about how ALL of us will be paying MORE taxes and fees to pay for their incredibly misguided spending spree, expect even less spending, more commercial closures and LES jobs again.

    Compound that with the potential devastation cap and trade will have on manufacturing and we have a REAL disaster looming on the horizon.

    My prediction is that the Obama Administrations efforts will make the Carter years look like a cake walk in comparison. If Americans do not vote these morons out of the Legislature next fall, there is certainly no redeeming hope for our economy.

  4. #34
    Sage

    Join Date
    Jul 2009
    Last Seen
    05-16-15 @ 02:32 PM
    Lean
    Undisclosed
    Posts
    12,537

    Re: Home Sales Decline Unexpectedly

    Quote Originally Posted by scourge99 View Post
    For people who plan on living in their homes then this isn't an issue unless they need to move in the next couple years.

    For people who view their home a short term investment it is very bad. But there is risk in any investment. Homes are not immune to this.
    ok

    but it's a dreadful development for our economy at large

    as stand up chuck points out, it's precisely how we got where we are

  5. #35
    Banned
    Join Date
    Nov 2007
    Location
    Ventura California
    Last Seen
    11-15-11 @ 11:17 PM
    Gender
    Lean
    Conservative
    Posts
    8,706

    Re: Home Sales Decline Unexpectedly

    Quote Originally Posted by Crunch View Post
    The commercial forecloses will make the current market look like a pimple next to that hand grenade that just went off in your belly... this is a real serious problem that if the government gets involved in solving, buy bullets and freeze dried food.
    Speaking of which, this is the latest I received from ICSC; the International Council of Shopping Centers of which I am a member:

    Property values must trough before recovery can begin, conference told

    The commercial real estate markets will not rebound until buyers and sellers agree on prices. In the meantime, vast amounts of debt and equity will continue to sit on the sidelines, executives said Thursday at the ICSC Capital Markets Conference, in New York City.


    Prices will not reach their trough until 2011 or 2012, predicted Timothy Zietara, a senior director and manager at New York City–based ING Clarion Capital.

    ICSC: International Council of Shopping Centers

  6. #36
    Traditionalist
    phattonez's Avatar
    Join Date
    Jun 2009
    Location
    Los Angeles, CA
    Last Seen
    12-05-17 @ 03:45 PM
    Gender
    Lean
    Other
    Posts
    20,072

    Re: Home Sales Decline Unexpectedly

    Quote Originally Posted by Crunch View Post
    Obviously you have never been in the "Real Estate" business... I've seen people get financing on a new home and 3 days before closing, go out and buy a new car........ swoosh........ there went the financing.
    It's because people view a home as a get-rich-quick scheme (or used to) and not as a product that they're buying.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

  7. #37
    Tavern Bartender
    Pussy Grabbin' Beaver
    Middleground's Avatar
    Join Date
    Jul 2005
    Location
    Canada's Capital
    Last Seen
    Today @ 08:51 AM
    Gender
    Lean
    Undisclosed
    Posts
    22,459
    Blog Entries
    1

    Re: Home Sales Decline Unexpectedly

    [quote=Crunch;1058272492]Obviously you have never been in the "Real Estate" business... I've seen people get financing on a new home and 3 days before closing, go out and buy a new car........ swoosh........ there went the financing.[quote]

    Wow, you convinced me!!!111!!!!

    Not.

    Do you doubt that predatory lending happened??? Do you doubt that $500,000 homes were financed to people who work minumum wage???

    And why is it, that all of a sudden, in the last few years, people have defaulted on their mortgages like never before. Why is that, Crunch??? All of a sudden, outta the blue, people randomly decided that they would rather spend their money on cars rather than their mortgage. Like aliens came to earth and brainwashed them to do so.

    You can thank Acorn for part of that.... they brought law suits and blockaded lenders that refused minorities mortgages that they couldn't afford. You can also thank the Libs for passing laws that required low income loans for housing to people that couldn't afford them, and then blocking any attempt to investigate and reform those stupid laws. You can also thank the Republicans for not having the guts to over ride all the above.

    Good gad, I don't know where to begin with this drivel.

    Do us all a favor and look up predatory lending. That's the crux of what really happened.
    Last edited by Middleground; 09-25-09 at 04:37 PM.
    “No men are anywhere, and I’m allowed to go in, because I’m the owner of the pageant and therefore I’m inspecting it,” Trump said... “‘Is everyone OK’? You know, they’re standing there with no clothes. ‘Is everybody OK?’ And you see these incredible looking women, and so I sort of get away with things like that.”

  8. #38
    Global Moderator
    Moderator

    Zyphlin's Avatar
    Join Date
    Jul 2005
    Location
    NoMoAuchie
    Last Seen
    @
    Gender
    Lean
    Independent
    Posts
    48,013

    Re: Home Sales Decline Unexpectedly

    Quote Originally Posted by scourge99 View Post
    That sucks for everyone who owns a home. But as for me.....

    LOWER!!! GO LOWER BABY!! OH yAY!!!111 I wouldn't mind a house and with less than 5.5% interest rate right now its only a dream if the pricing and rates go lower. WAHOO!!!

    Scourge will definitely have a house (maybe two) within the next few years.
    Ha! Same here. Trying to buy a town house up here in Northern Virginia right now and hoping to close before the November 30th deadline for the tax credit.

    The Short Sale I've got a contract on is for about $125k less than what it was bought for in 2005. We have a new metro line coming into the area and a stop not to far form the house and historically anywhere in the DC Metro area that gets a Metro also see's enormous rise in property values. I figure in 5 years when the line is completed, the market should at least be on a bit of an incline, and between that and the rise in proprety values will be a great time to resell it and probably get a good return.

  9. #39
    Sage

    Join Date
    Sep 2007
    Last Seen
    09-24-17 @ 04:38 AM
    Lean
    Undisclosed
    Posts
    29,261

    Re: Home Sales Decline Unexpectedly

    Do you doubt that predatory lending happened??? Do you doubt that $500,000 homes were financed to people who work minumum wage???
    .
    That I do doubt.

  10. #40
    Banned
    Join Date
    Nov 2007
    Location
    Ventura California
    Last Seen
    11-15-11 @ 11:17 PM
    Gender
    Lean
    Conservative
    Posts
    8,706

    Re: Home Sales Decline Unexpectedly

    [quote=Middleground;1058272610][quote=Crunch;1058272492]Obviously you have never been in the "Real Estate" business... I've seen people get financing on a new home and 3 days before closing, go out and buy a new car........ swoosh........ there went the financing.

    Wow, you convinced me!!!111!!!!

    Not.

    Do you doubt that predatory lending happened??? Do you doubt that $500,000 homes were financed to people who work minumum wage???

    And why is it, that all of a sudden, in the last few years, people have defaulted on their mortgages like never before. Why is that, Crunch??? All of a sudden, outta the blue, people randomly decided that they would rather spend their money on cars rather than their mortgage. Like aliens came to earth and brainwashed them to do so.




    Good gad, I don't know where to begin with this drivel.

    Do us all a favor and look up predatory lending. That's the crux of what really happened.
    The answers to your questions have been made countless times in countless threads; your continued feigning of ignorance hardly makes a case for your desperate and false assertions that the Global meltdown occurred because of the actions of some unscrupulous lenders.

    Instead of attacking Crunch, why don't you read the links being provided and the logical facts of his arguments rather than engaging in a trite dismissal due to the fact that you appear to be immune from the facts?

    I am certain that you would remain unconvinced if the facts walked up to you and said; “Crunch is right.”

    Here are the answers to all your never ending queries if only you would spend a minute of your valuable time becoming informed instead if spewing your nonsensical Liberal talking points:

    http://www.debatepolitics.com/breaki...post1058272406

Page 4 of 6 FirstFirst ... 23456 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •