[PinkString]

RWF is still posting on city-data...complaining about where she lives now, where she's lived before, ad infinitum. You should read some of her posts on the Detroit forum lvkewlkid.

[jfkIII]

Is snowman having a meltdown???

[dynimagelv]

Snowball has turned into an iceball

[Randy Culture]

Originally Posted by airics

If money can't be made on houses, they won't be built.

Wrong. Builders must keep building and hope for the best. Otherwise, they are bankrupt and lose everything anyway. Ever heard of "debt service"?

Luckily for the housing market, builders are starting to go bankrupt. LOL

[olecapt]

Originally Posted by Randy Culture

Wrong. Builders must keep building and hope for the best. Otherwise, they are bankrupt and lose everything anyway. Ever heard of "debt service"?

Luckily for the housing market, builders are starting to go bankrupt. LOL

Builders are pretty much building only to contract and at about 25% of the rate of a few years ago. What they are doing is minimizing their losses.

There are virtually no spec houses other than a few models.

What inventory exists is almost entirely those that fell out of contract.

Been like that for well over a year.

[gulfer]

LOL about missing Red Wings Fan. I honestly don't miss that negativity at all.

In my opinion the best part of this fourm is that you get good solid information and much is backed up by fact. I look forward to jumpin in here everyday. Sure do have a problem with folks that haven't done their reading before deciding to cut someone down. That is of course unless they absolutely need it.

So, sorry Snowman for the sharp posting. People do come in here to read and to share information. Take this thread, I feel by attacking some of the mainstay posters on this Forum, someone would miss some valuable information that could actually amount to real money.

Pull up a chair, read back awhile, and make your own determination. Either way, it is entertaining, but attacking the locals in here could actually cost you down the road.

[airics]

randy, i meant that they are building only to contract

[sam_i_am]

Originally Posted by olecapt

And if I read it right there are only another 4000 or so sub primes to go. At 1200 per month that is not a large number.

Overall it sounds like we should be digging out by spring or earlier.

I would suspect the number (for subprime) would be higher based on the current number of loans that are either NOD or 30-89 days past due. Now, this would be foreclosures just based on non-current subprime loans. Another 25% are facing resets in the next 12 months. So, I would guesstimate another 6000-8000. This figure would be in the same ball park as the number of subprime's that are already REO or already in foreclosure.


The big IF is whether or not Vegas will maintain the current selling levels... time will tell.

[rpachigo]

Las Vegas/Clark County
____________________10/2006: 797/6,311
____________________11/2006: 1,071/7,222
____________________12/2006: 1,240/6,813
01/2008: 6,093/13,690___01/2007: 1,484/6,912
02/2008: 8,602/14,529___02/2007: 2,170/6,560
03/2008: 8,605/14,511___03/2007: 2,533/6,888
04/2008: 9,113/15,756___04/2007: 3,180/7,191
05/2008: 10,851/16,752__05/2007: 3,888/8,250
06/2008: 14,303/17,021__06/2007: 4,528/8,630
07/2008: 15,879/19,190__07/2007: 4,590/9,133
08/2008: 18,392/18,280__08/2007: 5,101/9,958
_____________________09/2007: 5,132/10,065
_____________________10/2007: 5,362/11,088
_____________________11/2007: 4,345/11,481
_____________________12/2007: 5,619/11,303

Anyone wanna guess what these numbers mean?

[airics]

new homes built? cite your source also