I think this describes a lot of what we have seen for the last 2-3 years.
8 hours ago
Saturday, October 29, 2011
Subscribe to:
Post Comments (Atom)
skip to main |
skip to sidebar
Proactively “From the Sea”; an agent of change leveraging the littoral best practices for a paradigm breaking six-sigma best business case to synergize a consistent design in the global commons, rightsizing the core values supporting our mission statement via the 5-vector model through cultural diversity.
Listen to Midrats
Message Boards
Books of 2022
What is Sal drinking?
I'm going to be spending some quality time with the list of Southern cocktails from Garden & Gun through the new year.
I&W
-
-
10 hours ago
-
14 hours ago
-
1 day ago
-
4 days ago
-
4 days ago
-
4 days ago
-
5 weeks ago
-
1 month ago
-
3 months ago
-
6 months ago
-
11 months ago
-
1 year ago
-
1 year ago
-
1 year ago
-
2 years ago
-
2 years ago
-
2 years ago
-
2 years ago
-
3 years ago
-
3 years ago
-
3 years ago
-
4 years ago
-
4 years ago
-
5 years ago
-
5 years ago
-
5 years ago
-
10 years ago
-
12 years ago
-
14 years ago
-
-
-
-
-
-
Blog Archive
-
▼
2011
(703)
-
▼
October
(54)
- The press and Iraq
- Pre-Halloween Perspective; on Midrats
- Sunday Funnies
- Help to the Homeowner
- Fullbore Friday
- Diversity Thursday
- The Desert Rats Return ....
- Can we NOT have a USS MURTHA now? Please ...
- Just Greasing the Bobcat
- Well, Turkey has a solution ....
- Darkness before dawn
- What happens when you are a decade late ...
- ... but can you leave your voting habits behind?
- Sunday Funnies
- Bill Roggio, AFPAC, & the Long War; on Midrats
- Fullbore Friday
- Sic Semper Tyrannis
- Diversity Thursday
- A Crisis, or an Opportunity?
- There Goes Your Curve
- Sorry Herman, it was fun while it lasted
- Billet Bloat Poster Child
- Mayport; The next Charleston?
- When J-2s Dream Intel Weenies Dreams ....
- Where is the option, "Go Apesh1t"
- The POM Bomb
- The Four Horsemen of M-e-S
- The Lessons from Libya - on Midrats
- Humanitarian Imperialism Marches On
- Please come to IMAX
- Fullbore Friday
- Happy B-day Week
- Diversity Thursday
- Beats the frack out of "Global Force For Good"
- Programmatic Potpourri!
- About Last Night ...
- The Dutch See the Light on Piracy
- The CNO Joins the Blogosphere
- I think this is more what they had in mind ...
- Midrats: Afghanistan - to what end; at what price?
- Sunday Funnies
- There is one answer to your problems ...
- We'll see you at quarters, Ensign
- Fullbore Friday
- I know who E40 is voting for!
- Diversity Thursday
- As a Mac guy; I pause
- Rewarding Failure at the DoD Policy Board
- Playing in the Snowflakes
- The Revolution is Naw!
- The Spanish Canary
- Navy JAG Corps: Truth? You Can't Handle the Truth!
- Sunday Funnies
- The South I Know
-
▼
October
(54)
15 comments:
Don't get me started.
Anyone else here been trying to sell a house lately? I'm only going to get about 77% of what my house is valued at for tax purposes on my current mortgage payments. I'm competing against foreclosures and short sales. Mine is neither. But because of the bad economy and lack of jobs I'm getting hurt too. And I'm not even in an area where there was an insane bubble. Problem is, now we have a near 100% apartment occupancy rate. All the people coming in for the jobs here are renting, not buying. No one has faith in the economy. Not even in a "good jobs red state."
Ok, DB, one of my relatives is in the same boat as you are.
Here are his thoughts:
a. lower my house price by $35,000 below what I owe on it.
b. or... walk away from it and save $35,000 plus closing costs.
Hmmmmm. If I choose (a.), then I help out the "poor" bank, whose bank officers are ludicrously overpaid. (not !)
or... I can choose (b.) and save myself well over $35,000 of my own money, vice contributing it to my bank.
I can rationalize choice (b.) by saying, " I did not cause this huge mortgage meltdown, where mortgage bankers made a ton of quick profits."
Note that my brother-in-law and sister already own a fully paid house in another state where they will retire. What a mess has been created by giving house loans at inflated prices to anyone who is breathing.
Simlar position. I did did not refi to the nth degree (just once), did not over extend, and had a ton of equity in a few years. Everyone else went hog wild and now there are forcluse and short sells all around. Wish I had some more down scratch and might slumlord the existing house and upgrade - but i have no faith things will get better soon.
What gets me is there are many MANY people who would like to refinance at lower rates to stay IN the houses and the banks won't help. So they lose the house. The banks then become realty companies in effect. And some are plowing houses down that could have been bought at lower prices.
Where I am... the Chinese are buying the houses up at fire sale prices.
Our Chinese or their Chinese?
In extremis<span>, a </span>Latin phrase<span> meaning "in the farthest reaches" or "at the point of death". Think about this </span><span> </span><span>before</span><span> sign the dotted line. </span>
Oh, you mean Americans that can make better financial decisions than you can.
Americans who were speaking Chinese. Another rude anonymous troll... who has absolutely no idea the particulars of the situation or what decisions I've had to make or why or maybe even what it means to put the interests of children over "finances." So go away.
Oh... and by the way... the houses around here were selling for $30k to $40k more before Obama took office.
Correlation doesn't equal causation, but I'm sure you know that.
This only shows how much people came to see house as an investment, not a place to live... btw, Chinese seem to have massive housing market bubble of their own, about ready to burst.
Ewok, of course it's a place to live. But when it's time to move it would be nice to have some return on the "investment". I think that's at the heart of some future dilemnas for people. Own or rent? Why "invest" a large downpayment in a property that might fall in value. You could get a better return for that money elsewhere. Add to that Congress threatening every now and then to eliminate the homeowner tax deduction on mortgages. They do that and it will completely kill the housing market in this country.
As for guest.... I've had over a dozen years here watching housing remain steady/rising. Then starting in late 2009 the prices began falling. But you're right. It's probably just correlation equals coincidence, right?
Well, it might be an old and outdated mode of thinking, but people around here tend to try and keep settled. There are families who inhabit houses for centuries, if they last thru all the wars. It is not coincidence old European nobility was named after their chateaus. Buying a house is kind of declaration: Here I came to stay. Somewhere else life might be easier or work easier to get by, but I love this particular corner of earth and will not abandon it easily.
On investment:
Fifty years ago bankers were considered boring people investing in extremely cautious way other people's money for mediocre wages for themselves.
If you look for investment, look hard at underlying real-world value of the thing you are investing in - and don't expect miracles. If something's price is skyrocketing, it is probably overpriced. Gold is all glittery, but can you make a sword or gun of it - or if youre pacifist, a tool set or a car? Steel - now that is an investment! A car? Ford not Ferrari. A ship? Salamander-class FFG, not LCS. You get the idea.
quite a few years ago the "japanese" were buying up real property (mostly very large industrial buildings, hotels, office buildings.....). there was the usual cry of "the forgeiners are going to own lala land".
then there was a heluva large earthquake in Nagasaki.
all of a sudden the "japanese" wanted fast cash and lots of it to rebuild their towns.
they took a real bath on paper. i think that they made about $27 actual but LA county probably took that in some kind of weird paperwork fee.
C
Post a Comment