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Old 08-09-2013, 02:56 PM
 
4,543 posts, read 11,547,065 times
Reputation: 3063

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Quote:
Originally Posted by Hemlock140 View Post
With the hot market here in the Seattle area home prices are about to where they were in 2006 again, but rents are up higher than ever. For a house in a nice area rent is running well over what a house payment would be. Here in my neighborhood for example, on a typical $500,000 house the mortgage would be
about $2,200 with 10% down. If you can find one to rent, it will be $3,200/month.
I think you better check your math.

The 2,200/mo would be a rate of 4.25% and be just principal and interest on a 30yr fixed. Do you have PMI of any kind factored in? How about real estate taxes and homeowner's insurance? Upkeep and maintenance?
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Old 08-09-2013, 07:41 PM
 
4,480 posts, read 7,940,131 times
Reputation: 6404
- College loans the size of mortgages
- No house
- Bleak job market
- Largest population of americans looking to downsize

This is unprecedented in history.
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Old 08-09-2013, 08:41 PM
 
Location: Hernando County, FL
8,489 posts, read 17,415,181 times
Reputation: 5397
Quote:
Originally Posted by 399083453 View Post
- College loans the size of mortgages
- No house
- Bleak job market
- Largest population of americans looking to downsize

This is unprecedented in history.

What is unprecedented is the level of exaggeration in your posts.

If they come out of college and can have a nice house with a $26,000 mortgage I think most would be happy. Unfortunately the average student loan for graduating seniors is $26,000 and the median home price is about 6 times that amount.
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Old 08-09-2013, 08:46 PM
 
Location: The Berk in Denver, CO USA
13,115 posts, read 18,723,211 times
Reputation: 20425
I think this describes the OP.
Severely mentally ill neighbor
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Old 08-31-2013, 08:19 PM
 
4,480 posts, read 7,940,131 times
Reputation: 6404
700,000 borrowers quit paying their mortgages in June

Source



"The conventional wisdom is that mortgage delinquencies are falling because the economy is improving, borrowers are going back to work, and they are resuming payments on their mortgages. Unfortunately, reality bears little resemblance to this spin. In truth, almost no borrowers resumed making payments according to the original terms of their mortgage. Delinquencies are falling because lenders are offering greatly reduced payments to squeeze a few more dollars out of debtors while everyone waits for prices to rise back to the peak. And despite lenders best efforts to make their loan modification deals too-good-to-be-true, nearly half of those given these loan modifications end up defaulting again."
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Old 08-31-2013, 08:25 PM
 
4,480 posts, read 7,940,131 times
Reputation: 6404
The biggest foreclosure myth of the housing bust exposed

Source

Let’s take a look at the trend in deleveraging. The total debt is dropping, that much is true.



However, how do you think this really happened? Did Ponzis suddenly start making more money during the recession and pay it down with wage income. No. Did anyone liquidate their assets to pay off debt. Not very many. So what is the real source of deleveraging?

Bank write offs.

Nearly all the mortgage debt retired over the last several years was written off by banks.

Mortgage write offs are up
Credit card write offs are up.
Car loan write offs are up
Personal loan write offs are up
Commercial loan write offs are up

The reason why americans debt is down, is because banks are writing off more debt as unrecoverable.
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Old 09-02-2013, 09:40 AM
 
7,673 posts, read 11,281,660 times
Reputation: 15249
Quote:
Originally Posted by 399083453 View Post
Good article I found. Nice to see someone using facts, not opinions.

-------------------------------

Can Americans cope with a 10 to 15 year bear market in real estate? On this front I have good news, and bad news. The bad news is that we are likely to face at least a 10 year bear market in real estate thanks to a lost decade in household income and the continued erosion of the middle class..........

LINK
Home on the bear market range

-------------------------------
Quote:
Originally Posted by 399083453 View Post
Who will "qualify" or afford to buy homes in the near future, especially as the baby boomers downsize? A college degree with a student loan the size of a mortgage and a job at Starbucks ain't going to cut it. When people make less, they can afford less this will push home prices down to a price people can afford. Good for buyers, bad for sellers.
That first post is from 2011 and the second was just last month. I find it interesting that you're still talking about house prices declining even during one of the biggest upswings in history. Just in the past 12 months, house prices have increased 24.9% in Las Vegas according to Case-Shiller. Units in a highrise condo bldg in Miami Beach are selling for 40% higher than I paid for a similar unit just last fall. I'll probably sell one of my properties soon to lock in that profit.

So much for that 10-15 year bear market that that individual predicted "using facts."
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Old 09-02-2013, 11:47 AM
 
121 posts, read 132,413 times
Reputation: 150
Quote:
Originally Posted by MadManofBethesda View Post
That first post is from 2011 and the second was just last month. I find it interesting that you're still talking about house prices declining even during one of the biggest upswings in history. Just in the past 12 months, house prices have increased 24.9% in Las Vegas according to Case-Shiller. Units in a highrise condo bldg in Miami Beach are selling for 40% higher than I paid for a similar unit just last fall. I'll probably sell one of my properties soon to lock in that profit.

So much for that 10-15 year bear market that that individual predicted "using facts."
Since you mention Case-Shiller in your argument that the bubble is over and we are in full recovery, perhaps you should be reading what Robert Shiller has been writing this summer. Here are a couple of pertinent articles.

Some big U.S. cities at risk of another housing bubble -Shiller | Reuters

Bubbles Forever by Robert J. Shiller - Project Syndicate

‘Bubbles Forever’ and stock crashes forever too - Paul B. Farrell - MarketWatch

If Shiller, Peter Schiff and other economist that gave early warning on the housing bubble are correct we may still see what proves to be a 15-20-25 year bear market in housing (take a look at Japan). My personal opinion is that we may find that this threads initial prediction of a 15 year bear market was optimistic.
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Old 09-03-2013, 03:03 PM
 
Location: Home of the Braves
1,164 posts, read 925,877 times
Reputation: 1148
Quote:
Originally Posted by searching for prudence View Post
If Shiller, Peter Schiff and other economist that gave early warning on the housing bubble are correct we may still see what proves to be a 15-20-25 year bear market in housing (take a look at Japan). My personal opinion is that we may find that this threads initial prediction of a 15 year bear market was optimistic.
So we're in another housing bubble, but we're also in a housing bear market that could last longer than 15 years?
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Old 09-03-2013, 03:35 PM
 
121 posts, read 132,413 times
Reputation: 150
Read the articles. If you want it translated into stock market terms, the articles indicate we are in a cyclical bull market (new bubble) withing a secular bear market. Cyclical is the short term trend, secular is the long term trend.
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