Has the bubble burst?

News and Review ^ | Sep 21 06 | Sasha Abramsky

[RockinRight]

They can work just fine in the right circumstance. But, they used to be about 20% of all mortgages done. When it got to them being 70% it became a problem.

[Darnright]

>One thing about this article that's indisputable: there's never been a more ideal moment to add GOLD to your portfolio...<

Naw, I think I'll invest with one of those bee-u-teeful original Kinkade paintings. I will get to enjoy it and watch it soar in value (sigh).

[RockinRight]

Move to Ohio. Or Texas, or Iowa. Even the Carolinas. Make 70% of the income, but pay 30% as much for a home.

[stephenjohnbanker]

"To: stephenjohnbanker; onyx
Don't waste your time : )
If you're talking about onyx's post, ping her."

This has nothing to do with onyx, and you know it. Once again, you are trying to stir up trouble. I happen to agree with onyx on more than 90% of what she posts, and I have posted to her many times in the last few days with honorable effects. You, on the other hand, are a troublemaker, and a disruptor. How many times do I have to tell you not to post to me?? Jim Robinson is celebrating his 10th year with FR . Please, respect the accolade to him and find someone else to annoy.

Onyx, you can post to me anytime. Even if we disagree on a few things.

sjb

[samm1148]

"Personally I can't comprehend why anyone bothered with ARMs when fixed rates were down at 4 and 5 percent."

I agree. I think it was the lure of what seemed like ridiculously low payments. I think the real estate flippers used them to their benefit as well. (Not condemning that; if people make money good on them).

[Moonman62]

Where was the prepayment penalty mentioned? Did it apply longer than the period of fixed interest?

Yep, three years. They'll have to suck it up for a year.

[nopardons]

Nope, I missed it. Send me a link, if you think its worth it. :-)

[Petronski]

Jim Robinson is celebrating his 10th year with FR . . .

I'm sure you meant:

Jim Robinson is celebrating the 10th year of FR . . .

[RockinRight]

Actually, this couple will be "OK" apparently. They refinanced and got a payment just a bit higher than the original and much lower than the increased one. They'll end up paying more over the long term, but aren't in the dire straits they were in.

[Porterville]

Another twit loser article to support the yellow-jellyfish-sping of the weak...

[RockinRight]

Unfortunately, in California, for many people, it's almost impossible to own a house without "living beyond their means."

So move.

[woofie]

I think this guy might have to rob another bank...America is so cruel

[dighton]

Arise, ye prisoners of MacMansion . . .

[Petronski]

They'll have to suck it up for a year.

More likely--given the apparent cash flow crisis--they'll have to eat it.

[sgtyork]

Agreed Howlin, a few days ago it was the old Abu Gharab smear from mr. Churchillbuff. Old Churchillbuff doesn't like the way the country runs. Funny, the real Churchill was quite a fan of America.

[stultorum]

"I'm not talking about America and her ills.

I agree that we should all bury our heads in the sand and not talk about America's ills.

What ills? America is doing fine.

[maine-iac7]

Amen

[RedRover]

I also have a box where I keep all my warranties. Boringly normal rocks! :)

[RockinRight]

Shut up...they just might do it.

[volunbeer]

Is this a daily article or thread with a few new quotes or victims?

I posted a serious question on the end of the last thread attempting to get a little education on the topic and I killed the thread. This is basically the same thread.

/confused/

I will ask it again to anyone who can answer....

A poster on the other thread said the price of gold/silver would continue to appreciate over time due to a limited supply.

I asked if you could not apply the same logic to premium properties within reasonable commuting distances from major cities/downtowns.

This seems to make sense to me although I am sure there is no single rule for all markets.