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  1. O

    Housing Rolling Along 2

    So then, how do you see this chart resolving itself? A permanant plateau, some sort of retracement, or up, up and away further off the charts??? Where exactly is the rocket fuel going to come from to fuel this new upleg? IMO, buyers were borrowered from the future (with promises of riches)...
  2. O

    Housing Rolling Along 2

    Most homeowners will do fine. But, and this is a big but....if just some houses sell for less, than the comps for 100% of the neighborhood go down. The mindset of the market has changed, we all are reading articles about incredulous sellers with six month market time....no showings, no...
  3. O

    Housing Rolling Along 2

    The latest word from the trenches...OWP http://www.websitetoolbox.com/tool/post/sdcia/vpost?id=1382618 I think that the "experts" should just spend one week in my office observing the financial profiles of our refinance applicants. I believe their outlook would be much different. Most...
  4. O

    Housing Rolling Along 2

    news is getting worser and worser http://www.marketwatch.com/News/Story/Story.aspx?guid=%7bDFF933DD-D746-4A56-AFB5-A53A916DF126%7d&siteid=yhoo&dist=yhoo Chief Executive Robert Toll said the U.S. housing market got ahead of itself due to greed on the part of buyers and sellers, and that it...
  5. O

    Housing Rolling Along 2

    http://www.tbo.com/pasco/MGBT3IMBLRE.html?imw=Y The full-page advertisement in the Gulf Harbors Civic Association's newsletter was a desperate plea to homeowners. "WHY IS EVERYONE SELLING? MORE HOMES FOR SALE MEAN LOWER PRICES! STOP SELLING!"...
  6. O

    Housing Rolling Along 2

    http://www.wilmingtonstar.com/apps/pbcs.dll/article?AID=/20060903/NEWS/609030355/1002/business “Dear Mr. Berko: In May of 2005 we bought a condominium on St. Pete Beach, Fla., for $885,000. Five months ago my wife and I lost our jobs in the travel industry. We immediately put our condo on...
  7. O

    Housing Rolling Along 2

  8. O

    Housing Rolling Along 2

    http://www.sun-sentinel.com/news/local/southflorida/sfl-823homesales,0,2680559.story?coll=sfla-home-headlines Sales across the region continued to plummet, especially in Palm Beach County, where sales were off 44 percent compared to last July.”...
  9. O

    Housing Rolling Along 2

    And that is probably why inventory levels are absolutely exploding in many areas. And these are probably just the smart few that are selling, the rest are unaware and complacent. http://www.fresnobee.com/business/story/12603299p-13310134c.html Prices of existing houses are falling a...
  10. O

    Housing Rolling Along 2

    Also in the article was this quote "given the option to make minimum payments, more than 7 out of 10 borrowers did so. In the process, those borrowers are racking up heavy additional debt balances and could be heading for payment shocks - or worse" So many, actually MOST, of the borrowers are...
  11. O

    Housing Rolling Along 2

    http://www.baltimoresun.com/business/realestate/bal-bz.re.harney18aug18,0,3179443.story?coll=bal-realestate-headlines-1 Countrywide Home Loans quietly has begun sending out letters to thousands of borrowers who have been making only the minimum payments on the company's popular "PayOption"...
  12. O

    Housing Rolling Along 2

    http://www.moneyandmarkets.com/press.asp?rls_id=381&cat_id=6 .....borrowers are in such bad shape, they're barely able to make their first couple of payments.... http://www.dfw.com/mld/dfw/news/15265587.htm “We know how D.R. Horton deals with success. Now we’ll see how the Fort Worth...
  13. O

    Housing Rolling Along 2

    http://www.canada.com/nationalpost/financialpost/story.html?id=9df77ce7-5bad-468c-836e-d177681c21f3&k=12968 The United States could be heading for its first outright decline in national house prices on record, according to several analysts watching the rapid deterioration in housing statistics...
  14. O

    Housing Rolling Along 2

    And I think it's just starting to get interesting as trillions go to money heaven...pull up a chair! Greenspan giveith, Bernankee takeith away! :-) OWP
  15. O

    Housing Rolling Along 2

    http://www.dailynews.com/business/ci_4112317 “It looks like this unwinding real-estate market is going to make more of a mess than expected. ‘I don’t think there is any doubt it’s going to be a harder landing than was originally forecast,’ said financial analyst Greg McBride. ‘The...
  16. O

    Housing Rolling Along 2

    Probably because there is nothing to buy for 500k in that area. In that area one might have to spend 750k (or much more) for a real dump. The rental for 3200 would be a real nice place in comparision. So the payments on a place to buy would be something like 100% more than renting. Also, if...
  17. O

    Housing Rolling Along 2

    (Mish, cont.) “2006-04-30 Most of you know by now that my ‘day job’ is real estate. My wife and I practice real estate north of Atlanta up in Roswell and Alpharetta. As Mish continues to pound away trying to make the point that residential real estate is doomed or worse, I feel...
  18. O

    Housing Rolling Along 2

    From Mish's blog...OWP "Following is a set of posts from a real estate broker who goes by the name "Sonnypage" on The Motley Fool. This synopsis is with his permission. Follow the progression from 2006-01-04 through 2006-07-20. You might find it interesting:" “2006-01-04 "Many of you...
  19. O

    Housing Rolling Along 2

    sucks to be this CEO!...OWP AFTER THE BELL #’S FROM Standard Pacific: Stephen J. Scarborough, Chairman and Chief Executive Officer, stated, “The changing market tone that surfaced at the end of 2005 has continued to evolve during the first half of 2006, and we are clearly facing an...
  20. O

    Housing Rolling Along 2

    Wow.....and I thought I was negative~! Well said...OWP
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