Less than 20% fall in home prices will destroy the banking system?

[niceneasy]

Quote from blast19:

What the hell are you talking about? I haven't been calling for a crash for so long. What you clearly don't grasp is that a barrage of loose lending is what allowed people to buy houses that they shouldn't have qualified for. Why is that so hard to understand? Leveraging yourself to the hilt with ARM loans and credit lines isn't a forever dream.

Who says a crash has to happen this year OR next? That seems to be your stupid premise.

Good job discussing nothing.

people are managing their finances just like the US is. Keep spending as much as you can with no regard for the future. The reserve is unique in that it can print more money which it does 24/7. Maybe they will install money printing machines in these subprime properties?

 

[blast19]

Quote from volente_00:

Creative finanacing now leads to creative repayment.



http://news.yahoo.com/s/ap/20070404...fications_3;_ylt=AuE9mpBvoBVWN_s39QYs8VBKTb8F

Great idea! Cut profit margins and retain teaser rates on loans! Too bad most of these loans aren't owned by the lenders anymore. They dumped them to investors and it's more complicated than that...that's a huge desperation move by that company and clearly a signal that things are going to get a lot worse. Nice try dipshit.

You're a moron.

 

[volente_00]

Quote from blast19:

I don't have a mortgage...prices here are ridiculous. I make low 6 figures because I have made a lot of paper gains on one long term investment(PIPE) and I take out a certain amount so I only pay a certain amount of taxes. At my age, working for myself and having almost $2M in assets ain't bad...keep grasping for straws loser.

Good for you for no longer talking about things you're ignorant of and finally talking about things you're keyed in on...like making $30k/year in Texas

You've only been trading 2 years in one of the easiest bull markets since 99. And even though you think you already know everything , you still have a lot to learn.

 

[volente_00]

Blaster, you are a trip. Why are you so negative ? Surely making 10k more than a NYC garbage man and renting a rathole in manhattan should have you very happy. Why the bitterness ?

 

[blast19]

Quote from volente_00:

Blaster, you are a trip. Why are you so negative ? Surely making 10k more than a NYC garbage man and renting a rathole in manhattan should have you very happy. Why the bitterness ?

Negative? I'm a realist. You're are an idiot...that's real. Even a mental midget like you should be able to understand that. Don't you have some more fake money to go lose? LMAO!

 

[blast19]

Quote from volente_00:

You've only been trading 2 years in one of the easiest bull markets since 99. And even though you think you already know everything , you still have a lot to learn.

Are you stalking me? That's kind of sad. I don't profess to know everything at all...nor did I ever say that. Keep making up things...blah blah blah.

 

[volente_00]

Quote from blast19:

Great idea! Cut profit margins and retain teaser rates on loans! Too bad most of these loans aren't owned by the lenders anymore. They dumped them to investors and it's more complicated than that...that's a huge desperation move by that company and clearly a signal that things are going to get a lot worse. Nice try dipshit.

You're a moron.

How much is the profit margin on a defualted mortgage ?
You do realize all of those loans owned by merril etc are serviced by an outside company. What do you think the holders will choose to do ? Let those loans default in their portfolio ? The last thing they want is to be stuck holding 500k houses in SD that are only worth 400k.

 

[volente_00]

Quote from niceneasy:

people are managing their finances just like the US is. Keep spending as much as you can with no regard for the future. The reserve is unique in that it can print more money which it does 24/7. Maybe they will install money printing machines in these subprime properties?

That's the American dream ! Buy now pay later. And the govt supports it by backing loan programs that let you only put 3% down. No wonder blast wants to leave the US.

 

[blast19]

Quote from volente_00:

How much is the profit margin on a defualted mortgage ?
You do realize all of those loans owned by merril etc are serviced by an outside company. What do you think the holders will choose to do ? Let those loans default in their portfolio ? The last thing they want is to be stuck holding 500k houses in SD that are only worth 400k.

I can't believe you are still talking about San Diego or real estate. You clearly have no idea what you're talking about.

Most of the loans that will be defaulted on were sold off to a number of different investors. This is going to impact bonds, MBSs, future investments, credit, etc. You're a putz...va fanculo

 

[volente_00]

And you think those that hold the loans can't modify repayment terms in order to not get screwed ? You truly are ignorant.