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Old 04-28-2008, 05:14 PM
 
960 posts, read 1,688,956 times
Reputation: 409

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Quote:
Originally Posted by heydade View Post
The crisis is reaching an epidemic level. God bless and help all the people in need.


YouTube - The Homeless Families Of Florida 2008
Thank you for posting this link.

Kudos to the TV Station that did this piece.

 
Old 04-28-2008, 05:48 PM
 
991 posts, read 4,619,706 times
Reputation: 315
Is there anyway to help this woman Stacy and her family?
 
Old 04-28-2008, 09:18 PM
Ten
 
163 posts, read 335,011 times
Reputation: 67
Quote:
Originally Posted by Wild Style View Post
^^

Well, it could always happen again IF the govt. does not prevent banks from offering exotic loans of any type to the public sector. It should be federal law that only 30 yr fixed loans are available. It should become law that at least 20% down is needed and the person(s) applying for the loan can not buy a house that is more than 2.5 to 3 times their annual income. That would stop this from ever happening again. I am sure there are SOME cases where it could be more beneficial to take out a exotic type loan. But the it isn't worth it considering what could happen again.
The government, by way of a half century of fiat currency, WildStyle, is what made this mess. Curtailing free markets is a mistake. Curtailing the Fed (preferably by abolishing the stupid, obsolete thing) is what's needed.
 
Old 04-29-2008, 07:41 AM
 
Location: RI dreaming of Florida
564 posts, read 1,880,868 times
Reputation: 640
If they are going to pass any law it should be that the loan agreements have to be able to be understood by the average person, ie; you should not require a law degree to comprehend it.

I'm against a government bailout, I don't see why the government should spend my money helping people who lived beyond their means. Particularly since I have worked hard and made an effort to live within my means-modest house, affordable cars, etc.....

Governments job isn't to protect people from their own bad decisions.
 
Old 04-29-2008, 09:12 AM
 
670 posts, read 1,744,522 times
Reputation: 270
Default How to make $1250 a week in Real Estate (guaranteed!)

Well according to the Miami Herald, you rent!


cbs4.com - The Real Estate Prices Keep Dropping In Miami (http://cbs4.com/consumer/Miami.Worst.Market.2.710841.html - broken link)


Article says something to the effect that while some are jumping in, most are staying out, and in a sense making money, $1250 a week. Hmmm....

_

Should probably rename my title to "Real Estate Guru" as I had it weeks ago.
So much for the Used House Salespeople on this forum that said to buy now.
_

Last edited by jbravo; 04-29-2008 at 09:28 AM..
 
Old 04-30-2008, 06:41 PM
Ten
 
163 posts, read 335,011 times
Reputation: 67
Wow, fresh numbers are showing an acceleration in housing price declines. Looks like our fiscally-conservative prognosticators were right: There's a lot more bottom in this mess.

S&P/Case-Shiller Home Price Indices, April 29, 2008
 
Old 05-12-2008, 07:48 AM
 
Location: Tampa
3,982 posts, read 10,465,943 times
Reputation: 1200
Moenys prediction when it will bottom out

10 markets set for steep losses - Miami, Fla. (1) - Money Magazine
 
Old 05-12-2008, 08:08 AM
 
Location: America
6,993 posts, read 17,374,982 times
Reputation: 2093
Quote:
Originally Posted by Ten View Post
The government, by way of a half century of fiat currency, WildStyle, is what made this mess. Curtailing free markets is a mistake. Curtailing the Fed (preferably by abolishing the stupid, obsolete thing) is what's needed.
No, this is incorrect. The lowered interest rates, made borrowing easy and then paved the way for exotic loans, thats what made this happen. Fiat currency allows them to devalue currency at will but it didn't cause any of this. As for not curtailing markets, that would be ridiculous. People run business, people are unscrupulous and will do what is in their best interest. Just as they did with these exotic loans and now we are in this mess.
 
Old 05-12-2008, 08:10 AM
 
Location: America
6,993 posts, read 17,374,982 times
Reputation: 2093
Quote:
Originally Posted by TiggnTaz View Post
I was listening to the radio this morning while driving in GA.

They were talking about how the forclsoures rate is going up and some people are buying the forclosers at a cheap price and moving in to just leave their old empty and stop paying the bills for it so the bank will just take it.

Do you think that will happen in Fl too?
people are going to do what every they feel is necessary to survive.
 
Old 05-16-2008, 07:10 AM
 
Location: Vero Beach, Fl
2,976 posts, read 13,378,219 times
Reputation: 2265
Default The housing market - When prices expect to hit bottom

The June issue of Money magazine, page 92 lists "The 100 Biggest U.S. Markets The State of Home Prices and What's in Store for the Year Ahead ..."

The forecast is that Miami and Ft. Lauderdale will see rock bottom in Q2 2010. The section covers the entire United States by region. Very informative issue.
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