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Old 10-22-2009, 11:38 AM
 
Location: state of enlightenment
2,403 posts, read 5,241,188 times
Reputation: 2500

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Quote:
Originally Posted by coldbeer View Post

YouTube - The Housing Collapse of 2010 Will Be Worse Than 2008

It may be the bottom as far as sub prime loan foreclosures but watch the video.

According to Tilsons graph, the sub prime loans have bottomed out as he predicted so at "present "the housing market has bottomed.

BUT, Tilson is reporting; alt-A and option ARM loans which according to his graph are now re-setting "will" start the second wave in 2010 or sooner which will create a housing market bottom lower than the present bottom.
Whoa! Worse than 2008??? Since it's already down ~40% I find it hard to believe we're going down another 40% but as a future home buyer I've got my fingers crossed. What this could do to the economy is truly scary tho. Maybe my TBT (short Dow) will show a profit after all!
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Old 10-22-2009, 12:06 PM
 
549 posts, read 1,380,356 times
Reputation: 164
I talked to a friend of mine this morning. She has a nice ranch home horse property purchased with an Option ARM AND she was just laid off again --- 2nd time in a year. Her mortgage resets on her primary home in December. Her mortgage is already over $2K/mo. Can you imagine what her payment is going to be in January?! I'm really scared for her and her family! But, she's highly educated and will probably find a job, but not in Vegas. She's looking in CA and CO and will probably have to commute on weekends to see her family. What a freaking mess.
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Old 10-22-2009, 12:20 PM
 
1,347 posts, read 2,448,565 times
Reputation: 498
Quote:
Originally Posted by olecapt View Post
As expected...no results. Same old Tony.
I just want to know what it is that I'm looking for before I bother to waste my time. It already appears that you're saying "find me an instance of where I recommended someone ask for key money...besides the time that I did and later took it back". Isn't that what you're saying?
Quote:
Originally Posted by olecapt
Sure go for it. Find me a reference where I told someone to do it other than an incorrect reference later revised in a single thread.
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Old 10-22-2009, 01:22 PM
 
9,848 posts, read 8,281,707 times
Reputation: 3296
Quote:
Originally Posted by sierramadre44 View Post
I talked to a friend of mine this morning. She has a nice ranch home horse property purchased with an Option ARM AND she was just laid off again --- 2nd time in a year. Her mortgage resets on her primary home in December. Her mortgage is already over $2K/mo. Can you imagine what her payment is going to be in January?! I'm really scared for her and her family! But, she's highly educated and will probably find a job, but not in Vegas. She's looking in CA and CO and will probably have to commute on weekends to see her family. What a freaking mess.
CA is laying off people everywhere as well. Tons of well educated people can't get work. People graduating schools like USC are told you't got a job, but in about two or more years.

Sucky right now.
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Old 10-22-2009, 01:31 PM
 
515 posts, read 1,180,331 times
Reputation: 411
On the plus side, necessity is the mother of invention. Can't get a job? Lots of smart people are going into business for themselves. Its been a shot in the arm for new small business, which as both political parties used to say before they became enamored of "too big to fail," are the backbone of the American economy.
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Old 10-22-2009, 02:51 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,204,096 times
Reputation: 2661
Quote:
Originally Posted by tony soprano View Post
I just want to know what it is that I'm looking for before I bother to waste my time. It already appears that you're saying "find me an instance of where I recommended someone ask for key money...besides the time that I did and later took it back". Isn't that what you're saying?
I incorrectly interpreted some new regulations and then corrected that error if that is what you are trying to say. So just find all the other ones you have been talking about.

Don't anybody hold their breath. .
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Old 10-22-2009, 02:56 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,204,096 times
Reputation: 2661
Quote:
Originally Posted by sierramadre44 View Post
I talked to a friend of mine this morning. She has a nice ranch home horse property purchased with an Option ARM AND she was just laid off again --- 2nd time in a year. Her mortgage resets on her primary home in December. Her mortgage is already over $2K/mo. Can you imagine what her payment is going to be in January?! I'm really scared for her and her family! But, she's highly educated and will probably find a job, but not in Vegas. She's looking in CA and CO and will probably have to commute on weekends to see her family. What a freaking mess.
$2000 will carry a mortgage of about $350,000 P&I. So unless we are talking about mortgages in the jumbo class she should be in no trouble. People with jumbo mortgages should understand what they are doing and should not be wrecked by the loss of a single job.

An option arm with a $2000 minimum payment would likely have been for a mortgage of the 700,ooo to a million dollars. I doubt that is very common here and she had some very, very substantial job to get that mortgage.
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Old 10-22-2009, 03:14 PM
 
1,347 posts, read 2,448,565 times
Reputation: 498
Quote:
Originally Posted by olecapt View Post
I incorrectly interpreted some new regulations and then corrected that error if that is what you are trying to say. So just find all the other ones you have been talking about.

Don't anybody hold their breath. .
So you're saying the fundamental reason you suggested key money was the new regulations you incorrectly interpreted? You've never suggested someone ask for key money before the incorrectly interpreted regulations?
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Old 10-22-2009, 05:53 PM
 
23 posts, read 103,748 times
Reputation: 22
Quote:
Originally Posted by geos View Post
Whoa! Worse than 2008??? Since it's already down ~40% I find it hard to believe we're going down another 40% but as a future home buyer I've got my fingers crossed. What this could do to the economy is truly scary tho. Maybe my TBT (short Dow) will show a profit after all!
They will continue falling into the abyss.

Reports: Home prices to continue slide through next year - Thursday, Oct. 22, 2009 | 1:18 p.m. - Las Vegas Sun
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Old 10-22-2009, 06:06 PM
 
100 posts, read 180,593 times
Reputation: 38
Default Re:

Án alternative view.

SOUTHERN NEVADA ECONOMY: Housing shows signs of recovery - Business - ReviewJournal.com

"I've always said that at some time we'd look back over our shoulder and see that the bottom hit in the second quarter," SalesTraq President Larry Murphy said.
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