Housing Bubble Popped but why aren't the prices reflecting it? (Miami: mortgage broker, credit)

[nychiefsfan]

Originally Posted by Audacious

Ya know, I use to read this blog and actually try to participate. I read the last few pages of posts and it's the same thing. There are people here who are wishing and praying for the collapse of the RE market as well as the US economy. I guess they believe that if the whole thing s%$ts the bed they will be winners. How pathetic. The desire for a self fullfilling prophesy of armagedon in RE and the US economy is so one way, self centered , self serving as to be dirty and so disgusting in its self wallowing slime.

Enough said. Please feel free to post all the charts re the rise in self indulging BS, wallowing in self pity, bitterness, envy of those who succeed and how the Govt is not providing enough help for you. How sad that you cannot buy a 4 bedroom house with a pool for for 100K. Perhaps in the next life you might.
Sorry for the sarcasm but his thread is waaaaay over the top. Not enough Prozac in the world to help this group.

Again, my most sincere apology for my most sincere observation.

Maybe the reason you're so upset is because you're trying to sell your home for a fortune and it's not selling??? You seem awfully bitter.

No one's hoping for a "collapse of the US economy". The RE world will collapse on itself. I'm sorry if your ATM machine home won't be worth as much in the near future, but the market will eventually bounce back in a few years. If you're not currently selling, then I hope you don't plan on selling soon or else you'll be completely miserable.

[Audacious]

Originally Posted by nychiefsfan

Maybe the reason you're so upset is because you're trying to sell your home for a fortune and it's not selling??? You seem awfully bitter.

No one's hoping for a "collapse of the US economy". The RE world will collapse on itself. I'm sorry if your ATM machine home won't be worth as much in the near future, but the market will eventually bounce back in a few years. If you're not currently selling, then I hope you don't plan on selling soon or else you'll be completely miserable.

Not bitter, did EXTREMELY well in RE. Am not selling anything, no need, they are all positive cash with GREAT tax advantages, don't need an ATM, already made alot $$in RE when I shouldn't have(according to the pundits) Sorry, RE will NOT collapse onto itself. (keep praying and hoping) Not selling anything, why sell now when I can sell for soo much more in a few years (as you agreed) not the least bit miserable, except my port engine needs some work.

I firmly believe that it is you who are the bitter one, too obsessive in your posts, perhaps a little, actually a whole lot, of prozac might help. Waaaay over the edge. I also KNEW you would be the first to respond, light drag catches the biggest "bighter". Sorta validates what I first wrote. Thank you.

[Audacious]

Originally Posted by Audacious

Not bitter, did EXTREMELY well in RE. Am not selling anything, no need, they are all positive cash with GREAT tax advantages, don't need an ATM, already made alot $$in RE when I shouldn't have(according to the pundits) Sorry, RE will NOT collapse onto itself. (keep praying and hoping) Not selling anything, why sell now when I can sell for soo much more in a few years (as you agreed) not the least bit miserable, except my port engine needs some work.

I firmly believe that it is you who are the bitter one, too obsessive in your posts, perhaps a little prozac might help. Waaaay over the edge. I also KNEW you would be the first to respond, light drag catches the biggest "bighter". Sorta validates what I first wrote. Thank you.

I'm having too much fun here...it's gonna be great to see how this unfolds.

Sorry, but I can't wait for the responses to this one!

[tallrick]

A real estate collapse will not harm the economy, it will revitalize it. A falling dollar makes imports more expensive, a hard real estate crash erases a lot of credit foolishness, and frees capital for real investments like energy development, technology and manufacturing. Real estate is not the path to wealth forever, we need to get away from this nonsense that is bankrupting us, denying our future generations of the American dream, and setting up the end of the once great American economy.

I am looking forward to rising interest rates, better investments and new industries. This will come after this insane bubble is just a bitter memory.

[Audacious]

Originally Posted by tallrick

A real estate collapse will not harm the economy, it will revitalize it. A falling dollar makes imports more expensive, a hard real estate crash erases a lot of credit foolishness, and frees capital for real investments like energy development, technology and manufacturing. Real estate is not the path to wealth forever, we need to get away from this nonsense that is bankrupting us, denying our future generations of the American dream, and setting up the end of the once great American economy.

I am looking forward to rising interest rates, better investments and new industries. This will come after this insane bubble is just a bitter memory.

?



that was my first response but the system said it was too short. That's OK because unless you are retired how would rising interest rates help new industry or new investments? Rising interest rates are the same as rising taxes, they both stifle investment and prevent industry/business from expanding.

Try this, the income from taxation is directly correlated to the movement of money. The faster money moves the greater the revenue from taxation. If you raise taxes too much you will approach and exceed the Peter Principle aka the maximum point of ineffiectcny (sp?) the higher tax rate will retard the movement of money and therefore reduce revenue from the tax. In other words when you raise taxes you run the risk of lower revenues because you slow down the movement of money. A highly inflationary economy is the exception to face value of revenue but confirms the above because the revenue is in deflated dollars, pesos, euros, francs, marcs...whatever.

Every country in the world understands this EXCEPT the US congress. Even former Soviet sattelite countries have pro growth aka low tax policies. That is why you have jobs moving overseas and a shortage of heavy lift cranes in the US, the construction is elsewhere and that is also why the Euro is starting to replace the greenback as the standard currency of the world. Unfortunately America is on the path to becoming a second rate economy. Excessive taxation, excessive govt handouts, excessive political corruption ( the bridge to nowhere, New Orleans et al) no political backbone or "stones" be it the left or the right and the total acceptance of an invasion of our country. If Jefferson was alive today what would he think of "for english press one"

The whole thing began to dissengrate in the 60's when people began to realize that they could vote themselves money for doing nothing and politicians realized that they could buy votes by giving money to losers who happened to be registered voters. The Great Society...Bombs, Bullets and BS.

It's getting a little late. I do so look forward to the morning, can't wait to read the responses to the former post.

[lostbuyer]

audacious you are to funny.........thanks for the laughs......

[Audacious]

Originally Posted by nychiefsfan

Your bitterness makes you sound like someone who bought at the end of the housing boom and may be witnessing the negative equity that some of those people are currently experiencing.

Maybe you're a realtor who hasn't made many sales lately???

.

sound familiar??

[lostbuyer]

ok so I have a serious question for those that say prices wont continue to fall....what will keep prices high ?or what will cause a rebound in sales..? on the other side you have foreclosures,alot of houses not enough buyers,soon to be tighter lending standards...(no more 0% down) so what do you think will counter those effects ??will salaries double,baby boomers to the rescue,what will help the market???

[Mike Peterson]

Originally Posted by lostbuyer

what about all those chickens (loans) coming home to roost ? mike...how many people will stay in the house vs. how many will realize they really cant afford it and lose the house?

To try and answer this would be pure conjecture. I will say this, I have an ARM. I have no intention of leaving my house. All ARM's are not going to implode as some seem to think.

Lets say that ARM's accounted for 12.5% of all loans, of those not all are going to default. So if 13% of them defaulted you would have a 1.625% default rate overall. Not good but not the end of the world either.

While I was typing this I came across this

"According to the MBA, 1.28% of all loans outstanding in the U-S were in the foreclosure process in the first quarter of this year. That’s up from 1.19% in the fourth quarter of last year and is up from 0.98% in the first quarter of 2006. The average since 1990 is 1.1%, so that is a jump."

Seems I was a little high in my estimate. Lets look at these numbers.
With 1.28% in foreclosure up from an average of 1.1% since 1990 this adds
.18% more homes in foreclosure than the year over year average. That would be an additional 1,800 out of every 1 million loans. Once again not good to have any loan in foreclosure but not the end of the world crisis the news media makes it out to be.

[Mike Peterson]

Originally Posted by info please

Take a good look over a the Tampa board WHEN WILL THE HOUSING MARKET RECOVER

OK I did. Now what?