[GodGunsGuts]

ping

[Issaquahking]

RE ping

[stm]

I'm glad I bought my house in 1991. I could not afford it today, it's value has almost tripled.

[stinkerpot65]

Chicken, sky, falling, etc...

[Larry Lucido]

Is this article from some recent time in history?

No matter, reality has been an absolute component of realty since, well, forever. It has never escaped supply and demand. Ever.

[ex-Texan]

We believe a pronounced housing slowdown will be followed by localized absolute declines in mean residence price. * * * [W]e fear the return of reality to real estate will exert a pronounced downward pull on national economic performance and have global economy implications.

On Example: This three bedroom, one bath house is for sale in Los Angeles for $ 445,000.

IMHO, it not worth a dime over $ 90,000. Check my FR Page for more information.

[gusopol3]

ACORN, a community advocacy group released, The Impending Rate Shock, on August 15, 2006. This report examines 130 metro areas and offers a first glimpse at the extent of risk and fragility of housing finance for lower income Americans. In 2005 adjustable rate mortgages (ARM) accounted for 24% of all residential loans and 75% of sub-prime loans.

Soros alert

[Porterville]

more gutless nonsense from the spineless 20/20 couch-coaches that think they know all; but only have opinions based on emotions and gold prices.

[rwilson99]

Nice illussion

"During the first quarter the median ratio of old-to-new interest rates was 0.98 which means that one half of borrowers who were refinancing mortgages ended up with a new loan with a rate that was two percent higher than the old rate.[1] "

The writer clearly wishes to imply that owners refinanced 6% loans for 8% loans or something to that effect.

However two percent higher would shift from

6% to 6.12% as a median shift.

Which makes perfect sense as rates crept up earlier this year, folks on variable rate mortgages shifted to fixed products which often have a slightly higher rate to accomodate the long term interest risk of the lender.

Dumb solicialists assume people can't engage in Math and Finance at the same time.

[RegulatorCountry]

"ACORN"

Goofy, cutesy acronyms that spell words are the hallmark of closet marxists.

[stylin19a]

figures lie, liars figure...

When percentages fit the premise, use percentages.
When percentage doesn't fit the premise, use numbers.

In 2005 adjustable rate mortgages (ARM) accounted for 24% of all residential loans and 75% of sub-prime loans. One million households have either received sub-prime loans or are at risk of foreclosure from mortgage burden.

so, sub-prime is 75% of 24% ?
and 1 million homes equates to what percentage ? especially if 70% of Americans own their own home ? (never mind that the 70% doesn't breakdown which are mortgaged and which are not)

"I-might-be-almost-right-after 10-years" - Ping!
"A-bazillion-gazillion-trillion-in-lost-equity" -Ping!
"Homeless-increase-under-President Bush" -Ping!
"Doom-and-gloom" - Ping!
"we're-all-doomed" - Ping
"Worst-economy-since-Hoover" -Ping !
"I-buy-real-estate-cheap" - Ping !

If-I've-left-anybody-out" - Ping !

[The_Media_never_lie]

Returns to earth are often painful.

[gas0linealley]

"The coming drastic reduction in purchasing of exports by suffering members of middle class- and soon to be former middle class Americans- will have global impact."

Maybe "made in USA" will make a comeback.

[truth_seeker]

doom

[Sovernity]

It is time for a good old fashioned downturn in Orange County, Californa real estate. Standing in line with 110 other suckers waiting for your number to be called concerning a builder's release of 14 square box, two story townhomes for $600,000. with taxes and association fees and assessments of $1050.00 per month is a sobering experience.

I actually saw a winning young woman burst into tears of joy and relief as she was escorted to a closing/escrow office by the spiffy real estate agents.

[Sovernity]

It is time for a good old fashioned downturn in Orange County, Californa real estate. Standing in line with 110 other suckers waiting for your number to be called concerning a builder's release of 14 square box, two story townhomes for $600,000. with taxes and association fees and assessments of $1050.00 per month is a sobering experience.

I actually saw a winning young woman burst into tears of joy and relief as she was escorted to a closing/escrow office by the spiffy real estate agents.

[goldstategop]

We may see an interest rate CUT from the Fed next time. A lot of people will scramble to refinance their mortgage to take advantage of lower payments. The sky isn't falling, whatever some people like to think.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." -Manuel II Paleologus

[Just mythoughts]

Bubble or NOT property taxers are the winners in assessment value of real estate. How long will it take the county assessors to revalue any piece of real estate?

[A CA Guy]

Financing is going to cause a lot of RE to collapse and we are going to see the market hurt and lots of investor's are going to go negative and POOF!

Went up the most outrageously and will come down the same way IMO. There has been a RE recession in the 80s, 90s and this one will be a doozy. Those without bad financing will be the least likely to loose their homes.

[mrsmith]

Max Fraad Wolff

His "housing is doomed" article from last year: "Curtain call for housing
April 14, 2005 " http://www.prudentbear.com/archive_comm_article.asp?category=Guest+Commentary&content_idx=42272

His father's "CURRICULUM VITAE
AND
LIST OF PUBLICATIONS"
http://www.umass.edu/resnick-wolff/Wolff_curriculum_vitae.pdf
Look at the stuff he and his mother wrote with his father! No wonder the guy is such a screwed up little marxist. Like his parents.