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No, 58, I've been on here posting the "NON-doom" for quite some time. Becuase I am honestly NOT worried and prior to this recession, we did not have access to these types of forums, where the "paranoid" comes out in multiple. I am sure there were ALL of these "predictions" in the minds of many in past recessions, (probably the same ones who went out and got a bomb shelter full of canned goods and water for the Y2K end of the world) we just didn't have places like this to "express them". And true to form, the word "shadow inventory" comes up. This is all speculation! Just like the "AltA predicitons- how does ANYONE know these people with these loans will not be able to pay? It's all opinionated speculation and assumption and nothing more. And the conventional loan market? What will they predict then? All of the sudden no one can afford their mortgage payment? Same with job losses. What makes you think GM will go? Because someone "said so"? Seems to me, most of the nation is moving on and moving forward. Still living every day, going to work, school, driving to kids soccer games, baseball games, stadiums are full at season openers, the mo. of March and spring breaks just ended, vacations, etc....... And everyone is doing this on the credit that's unavailable now? I'm coming back full circle. You get the point.
Not really....remind us again what your point is.....?
Actually YOU don't get it. There is a huge shadow inventory of foreclosures all across the country. Even in your neck of the woods.
How do you explain the first round of resets? Quirk? Anomaly? Govt conspiracy?
There are loads of empirical data on that subject.
GM not going bankrupt? They got 50 or so days to come up with a plan. With Segway, GM tested the waters and Obama told them to try again: not good enough.
Now if you would just remove your head from your fourth point of contact....
If they couldn't pay before the moratorium, what makes you think they can pay now, a mere 3 months later ?
That's not what I said. I am speaking of those who are paying with NO problems, and yet it's assumed that once the loan resets, they will no longer be able to pay. THIS is what is being assumed. That's based on the hard lesson learned with the subprime, interest only loans. But it is not based on anything other than prediction, since they haven't reset yet.
As for GM, 50 days or less from now, we will all be hearing of "the plan" in our "oh so imformative" media access. So let me guess: those same doomers on here who whine about house prices are also in a position to buy a car and probably even need one, but NOT going to right now because, after all, we all might get one for free here, soon, so why pay now? Why help the economy or anything about it since we're all in for a free ride anyway. Right? Do I get it now? So don't tell me I DON'T get it, Flat. I do, believe me. I am not, however, hiding in a corner, grasping on to every piece of bad news and holding on as if a tornado is coming and will destroy or carry away, all I have, nor what most others have in this nation either. To read some of these posts, you'd think the world is coming to an end. Is it? some day, but certainly not because some think RE is too expensive, or auto makers are hurting, or the banking/financial sector is going through serious restructure. If the world ends, it will end and none of this will matter or be the cause, none of it.
That's not what I said. I am speaking of those who are paying with NO problems, and yet it's assumed that once the loan resets, they will no longer be able to pay. THIS is what is being assumed.
You're confusing the word "assume" with "observed". One is what you do, the other is what informed people do before they make predictions.
The percentage of mortgages in arrears in the category of loans one rung above subprime, so-called alternative-A mortgages, quadrupled to 12 percent in April from a year earlier. Delinquencies among prime loans, which account for most of the $12 trillion market, doubled to 2.7 percent in that time.
Some of these people will catch up on their mortgages. The evidence shows that the vast majority will not, though, so these missed payments will turn into foreclosures as soon as the banks get around to it.
Quote:
I am not, however, hiding in a corner, grasping on to every piece of bad news and holding on as if a tornado is coming and will destroy or carry away, all I have, nor what most others have in this nation either. To read some of these posts, you'd think the world is coming to an end. Is it? some day, but certainly not because some think RE is too expensive, or auto makers are hurting, or the banking/financial sector is going through serious restructure. If the world ends, it will end and none of this will matter or be the cause, none of it.
The fact that you have to make up nonsense like this and attribute it to other people instead of addressing what they actually write speaks volumes about the credibility of your claims that everything is fine.
RE today is anything but normal. Where have you been for the last 2 years ?
What's normal? Was the bubble created by the Clinton administration normal? Is this normal? Was the recovery from the late 80's that we had in the 90's normal? Is this the new normal if it wasn't before? At the end of the day, buying in my market is a better long term investment than renting and homes are selling, if at a lower clip than 2 years ago. That's what matters to me.
In the kingdom of the witless the half-wit is king.
LOL Brandon!
See, it's those blanket statements "why are realtors liars," and ones like them that make this "crew" so hard to intelligently discuss this with.
I gave up.
But I read and say "right on" a lot to a lot of you!! Well, I read those that are not on ignore. Some aren't even worth reading.
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Actually YOU don't get it. There is a huge shadow inventory of foreclosures all across the country. Even in your neck of the woods.
Quirk? Anomaly? Govt conspiracy?
