Recent content by crackedback

Not even close to a bottom. I know people living in homes that haven't made a payment for 8-13 months, and, not a single notice from the servicer/lender. No notice of default has been filed... we aren't close. There is a huge inventory of foreclosed homes all over my area that lenders...

74-75% at 60+ days delinquent??? Where can I get a piece of that... NOT!!!

Yep, Subprime will turn out to be a conventional bomb and ALt-A/Prime is the nuke or neutron! Kill all the people and leave the homes standing.

I agree with that guy 1,000,000%. Being under water will be a greater factor than payments. I know 4 people that have bought cheaper homes than their current home, while still in good standing with their current mortgages. Same size places just less $$. When the new place closes, the old...

I live in Coachella Valley, Ca. --- Palm Desert, Indio, Palm Springs, la Quinta There has been some activity in the market but sales volumes deltas have been pretty consistent with long established seasonal trends. Volumes are down from prior years ~20% Homes in the upper price points...

Or the millions of people that committed financial suicide buying a home they couldn't afford with the help of the REIC. Yeah another way to look at it. Rent a depreciating asset for 1/3 the cost of buying a home in my area is an intelligent choice for those that don't drink the NAR...

Greenspan is a bonehead. His interview the other day made me want to throw my TV out the window and throw up simultaniuosly.

Sold my house in 2005, moved to a new area, and decided to rent because I saw what was on the horizon. Homes were in the 200-265 per sq ft when I moved, now they aren't moving at 135/sq ft. Your ASSumption is absolutely incorrect. You sound like a realtor. Throwing rent away??? How about...

Didn't Ben say that 45% of foreclosures were in non sub prime areas... Prime, alt-a, etc.??? I thought this mess was contained to sub prime? Or maybe as someone else put it, it's contained... to Planet Earth.

ROTFLMAO at this one. My old landlord had 4, yes FOUR, owner occupied homes purchased in a 2 year period. In CA all the flippers were nailing 100% financing or as some I know of 80/15/5 owner occupied loans.. and the 5% was borrowed as well.

More good new about foreclosures... The cheerleaders sound the same as when thh nasdaq went from 5K to 2K... it'll come back, it has too! :D

Only people cheerleading RE now are realt-whores. In my area prices are down 40% from peak and still diving. 430 sold last month and 9000 units on the market... Yep that's vibrant. Low end is DEAD! Only places that sell are the high end. The tree is/has toppled here.

There are something like 23000 homes for sale in the MLS around San Diego county with around 2000 homes being sold every month. If 2000 homes burned and those people all rushed to buy you've dropped month in inventory from 11 months to 10 months... even with the rush of buyers. Yipeeeee...

Nice older pic of Doug Chandler. I owned on of his old Muzzy supersport bikes in 1993-1994. MUCH bigger cajones on two wheels... no rollbars.

The trend is still increasing in a bad way. IMHO, never a good idea to get the state numbers as RE is ALWAYS a local issue. What happens in Santa Monica doesn't generally mean squat to Palm Springs or La Quinta Homes that would have sold in my neighborhood during 2005 for 500K don't get an...