Recent content by onewaypockets

And the $hitstorm grows ever more with no end in sight....OWP The New York Times August 4, 2008 Housing Lenders Fear Bigger Wave of Loan Defaults The first wave of Americans to default on their home mortgages appears to be cresting, but a second, far larger one is quickly building...

As predicted much earlier in this thread, the home builders are starting to fail. They have taken many months to burn through cash on hand and now are facing the end. OWP Aug. 4 (Bloomberg) — WCI Communities Inc., the homebuilder whose chairman is billionaire investor Carl Icahn, filed for...

Wonder where all the housing bulls have gone from this thread??? Check this property out, it last sold sold 11/09/2007: $571,500. Zillow estimated the highest value it attained was $660,000. Look at the sale price now! This is a major neighborhood comp buster, or it may prompt the...

Either someones random thoughts.....or maybe...could it be....still more visual symptoms of the end of the biggest credit bubble in history, the biggest ever unwinding of real estate fraud worldwide, the end of the consumer prop of the economy put in place by a old man bent on preserving his...

I have heard that lenders are so buried that they don't even send notices for many months to home owners that are behind. Probably thats why the Countrywide chart declined for awhile... There are tons of NOD's that don't have their homes even listed, some of the bloggers follow this...

Nice chart, it will be wild to see the other side of that wave too. I hear that the chart of the NOD's is even wilder. OWP

Yup...during the last real estate blowout (early-mid 90's) DHI traded as low as a buck and change. There is a reason all the owners of these companies were selling two fisted a couple of years ago. They had been there, done that before. OWP

SoCal home woes could mean 50% price drop June 20th, 2008, 12:02 am Economist Chris Thornberg said Southern California home prices likely will continue falling until mid-to-late 2009. When the dust settles, he added, homes here could end up being worth half as much as they were at the...

"Its just a flesh wound" (ignoring two gangrenous legs)....OWP

Zillow or not real estate is going down fast. This web site...(see chart) http://recomments.blogspot.com/2008/02/its-not-different-here.html Shows real estate in the south west is going down over 3% per month. The markets of Vegas, San Diego, Los Angeles, and Orange are in lockstep in...

That in a nutshell is the problem here, what ever happened to thinking of a house as a place to live? In the last few years morons just thought they should tie up the biggest property they could with nothing down...and they would become rich! Now they are trapped as too many people leaned in...

http://www.lvrj.com/business/15870347.html My favorite part of this article I link was the math. Total sales in January = 881 Number of houses in foreclosure process = 34,026 That would be nearly 40 months of inventory, just from foreclosures, at the January sales rate. I would say...

Around the corner from me there is a house that sold for 440k on 12/14/2007. It had previously sold for 631k on 2/14/2006 ! Someone took a solid 30% hit. Houses on my street are declining at 8-12k a month according to Zillow. Ouch. Nice to read back on this thread on the posters that...

Very true...and due to the bubble popping in progress, millions have/will have negative net worth. Like this guy... "About eight weeks ago one of our laborers asked our field technician for a ride to the Ford dealer in the next town. Apparently his 3-yr/old pick-up truck was in for some...

I for one appreciate hearing real words from the trenches...not clap trap from news orgs. I have been reading the same sort of stuff off the comment sections of real estate blogs, here are just two in as many days. OWP "Comment by Ncineration 2007-12-25 05:10:53 Off topic…. How about...