[Mike1306]

Originally Posted by oldtimer2

Bloomberg yesterday....17 % default on Alt A loans and 37 % default rate on sub primes.

We are just beginning the 2nd yr. of massive sub prime mtg defaults. 1.8 X last year. It is a good time to sell and a good time to buy if you know what you are doing. Dump your debts to the banks and save your credit. Take advantage of the fact that the Govt. is stupid enough not to tax your greedy ill spent windfall loans and excessive spending habits over the last several years, and prepare yourselves to buy a similar house at 25 % of what ya thought was a good deal some few years ago.

If ya can figure it out you will do OK.... Helps if ya quit being Greedy.

It aint rocket science.... I see 1973 Fl. home prices. Be ready to pounce.

OT2

So now it is 1973 prices? I personally think you are insane but what ever.

How long would you say prices need to stay at a certain level before we can say we are at bottom?

2 months, 4 months, 6 months, 9 months, a year?

[oldtimer2]

Your momma could be ashamed. Go read the newspapers prior to the depression of 1929. Check out how many salesmen hyped worthless paper. Ask yourself a question. Did you really earn any money in the first place? ...It is Toilet time Kid....OT2

[Mike1306]

Originally Posted by oldtimer2

Your momma could be ashamed. Go read the newspapers prior to the depression of 1929. Check out how many salesmen hyped worthless paper. Ask yourself a question. Did you really earn any money in the first place? ...It is Toilet time Kid....OT2

Your post amount to blah blah blah, I'm older than you.

Come back with a real answer.

[oldtimer2]

George Bush took the deficit of this country and tripled it from 3 Trillion Dollars to 9 Trillion dollars in 6 years. We are now disrespected throughout the world by most other peoples. You claim to be older than me....So what. Are you smarter? At all of 41 and so much more I still am not afraid. Are you? Do it your way. Perhaps I am wrong. Wish I did not doubt it. I like it when we all win. Bet you do also. ...OT2

[Mike1306]

Originally Posted by oldtimer2

George Bush took the deficit of this country and tripled it from 3 Trillion Dollars to 9 Trillion dollars in 6 years. We are now disrespected throughout the world by most other peoples. You claim to be older than me....So what. Are you smarter? At all of 41 and so much more I still am not afraid. Are you? Do it your way. Perhaps I am wrong. Wish I did not doubt it. I like it when we all win. Bet you do also. ...OT2

It seemed as if you were saying you were older than me.

"It is Toilet time Kid"

Hence what i said, "Your post amounts to blah blah blah, I'm older than you."

I didn't get where your post was going.

[Wild Style]

Originally Posted by oldtimer2

Bloomberg yesterday....17 % default on Alt A loans and 37 % default rate on sub primes.

We are just beginning the 2nd yr. of massive sub prime mtg defaults. 1.8 X last year. It is a good time to sell and a good time to buy if you know what you are doing. Dump your debts to the banks and save your credit. Take advantage of the fact that the Govt. is stupid enough not to tax your greedy ill spent windfall loans and excessive spending habits over the last several years, and prepare yourselves to buy a similar house at 25 % of what ya thought was a good deal some few years ago.

If ya can figure it out you will do OK.... Helps if ya quit being Greedy.

It aint rocket science.... I see 1973 Fl. home prices. Be ready to pounce.

OT2

There are tons of prime jumbo exotic loans due to reset starting this fall on through to 2012 or something like that. You are right, it will be a long time coming. You couple that with a worsening economy and rising inflation. Home sales are going to stay down for awhile, prices will still fall etc. etc.

Anyone denying or in doubt of that needs to take a first class ticket back to reality.

[Ten]

Somebody recently said we were in the housing market's hurricane's eye and I do believe they were right. Last month's numbers show that after only one month of flattening, inventories are skyrocketing again and sales are once again tanking.

This is a very worrisome market. Apparently you can't cheat the fundamentals. Thanks Fed! Thanks for virtually bankrupting the place.

[Mike1306]

How long would you say prices need to stay at a certain level before we can say we are at bottom?

2 months, 4 months, 6 months, 9 months, a year?

[deep-blue-water]

historically when prices have homes have bottomed out , the start to grow again at a low 1-3% rate for a bunch of years haven't they?

[Mike1306]

Originally Posted by Mike Peterson

How long would you say prices need to stay at a certain level before we can say we are at bottom?

2 months, 4 months, 6 months, 9 months, a year?

Anyone?

So many opinions in here I figured someone would chime in.