San Antonio's One of the Strongest Housing Markets (mortgage, loans)

[rd2007]

Originally Posted by dmarie123

Oh yeah, I'm sure Ann Arbor and Saline proper are doing just fine. They've always been desirable places to live.

You know what I miss most Saline? The Drowsy Parrot Ice Cream Shop!

was that after 1986? It doesn't ring a bell. I used to go out with a girl whose family owns/owned the Dairy Queen (or was it a Tasty Freeze?) on 12, just down the street from downtown and that really strange big green house. That relationship had some perks.

[banker]

More bad news for San Antonio...

Hard times, hit home in S.A. (http://www.mysanantonio.com/business/Investors_exotic_loans_add_to_foreclosures.html - broken link)

[sapphire]

Originally Posted by banker

More bad news for San Antonio...

Hard times, hit home in S.A. (http://www.mysanantonio.com/business/Investors_exotic_loans_add_to_foreclosures.html - broken link)

Um, no.........bad news for this couple, yes:

That sent Ozuna and his wife, Dina, on a months-long race to stop the foreclosure and convince the bank to let them refinance two adjustable-rate mortgages that had soared to 10.25 and 13.75 percent.

Not one, but TWO ARM's???

The article states that filings are still not as high here as the rest of the U.S.

[banker]

But the trend for San Antonio is headed in the wrong directions. There are lots of folks in their shoes in our city.

Better than many other areas, yes. But not good...

Did you see the graph at the bottom of the article? The number of foreclosures was the second highest in 20 years. No matter how you look at it - the trend is clearly not good. Yes, our population has increased - so relatively it isn't as bad as 1989 - but the data shows filings are increasing 10 out of the last 13 years!!!

[ryneone]

Originally Posted by sapphire

Um, no.........bad news for this couple, yes:

That sent Ozuna and his wife, Dina, on a months-long race to stop the foreclosure and convince the bank to let them refinance two adjustable-rate mortgages that had soared to 10.25 and 13.75 percent.

Not one, but TWO ARM's???

The article states that filings are still not as high here as the rest of the U.S.

It is a lost cause.

[kevcrawford]

People keep talking about the "foreclosure crisis" but isn't the number something like 1 in almost 500 homes are in foreclosure?

While that's still too many, that's VERY few homes compared to those paying their bills and doing things the right way. This "crisis" is being made out to be MUCH worse than it is by the talking heads on the news and in the government, who are USING this to get legislation passed that under normal circumstances most people would be calling them idiots for.

Instead they're now our "saviors".

It's not as bad as everyone is saying, people. 10 years from now we're going to look back and see how people have used this to systematically try to destroy our country.

[banker]

Originally Posted by kevcrawford

People keep talking about the "foreclosure crisis" but isn't the number something like 1 in almost 500 homes are in foreclosure?

While that's still too many, that's VERY few homes compared to those paying their bills and doing things the right way. This "crisis" is being made out to be MUCH worse than it is by the talking heads on the news and in the government, who are USING this to get legislation passed that under normal circumstances most people would be calling them idiots for.

Instead they're now our "saviors".

It's not as bad as everyone is saying, people. 10 years from now we're going to look back and see how people have used this to systematically try to destroy our country.

I do not disagree with your last statement...that people (republicans and democrats) have used this to systematically try to destroy our country. But My point is simply - there is the other side of the equation. Those that quickly dismiss what is going on as nothing. There is an element of hype and truth in this situation.

Just like you can't try and scare people into passing dangerous legistlation...you also can't summarily dismiss facts like dramatically rising foreclosures, job losses, national debt, crashing auto sales, etc. There is hype and fact. Those things I just listed are real things going on. As a result of some of the hype? Maybe. But real none the less.

[kevcrawford]

The hype is making everything worse than it really is and our government (yes, both parties) are perpetuating it. But the more everyone else perpetuates it, we're MAKING things worse and worse. There's definitely a problem, but people need to see that it's more hype than anything causing problems. It's like a big snowball flying down the mountain.

Everything is always focusing on the bad side of things, but we've got a TON going for us in this country. But because good news doesn't get publicity, the news and the government need to perpetuate the bad.

It's ridiculous and people need to open their eyes to the good in this country and our situations. We're not standing in soup lines and 499 out of 500 homes AREN'T in foreclosure!

[Paka]

This argument is sooooo similiar to the unemployment arguement....do you know what a 7% unemployment rate means??? It means that 93% have a JOB!!!

While there is no denying that there are issues with jobs and the housing market WORLDWIDE, there are far more folks making their payments and keeping their homes than those that are not.

Like Kev said, good news stories doe NOT get the lead on the news, or sell papers.

[Dopo]

Originally Posted by Paka

This argument is sooooo similiar to the unemployment arguement....do you know what a 7% unemployment rate means??? It means that 93% have a JOB!!!

The "official" unemployment rate doesn't count lots of people

Merrill Lynch Estimates Real Unemployment Rate at 13.9% | The Economic Populist