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Ahhh..I see! Californian! You guys are just doomed period! If this market doesn't kill you, you going to eventually sink into the pacific so I would just increase your homeowner's ins. and wait for door number 2
Wow, I don't know how many times I've read that or seen someone say that California is going to fall into the ocean... and likewise someone else coming in explaining how tectonic plates in California are moving (North/South). No, we won't be falling into the sea... we'll just be closer to the bay area in millions of years.
The only impact this will have is the possibility to lessen the credit crunch. Buyer's still have to qualify and have money for down payments. I don't see this having any significant impact on my local market. It's all about the debt to income ratio. This changes nothing with regard to that.
This isn't bad news for buyers. Rates are still good. This doesn't make it worse for sellers, but not sure I would call that good news. Let's see the government absorbs bad debt and who pays for that?? Taxpayers pay for government entities. If we have higher taxes to pay for this mess, it means less disposable income, which makes it harder for people to afford housing. Fewer buyers to afford housing, means less demand, which means lower prices for sellers.
I must be feeling negative today cause I'm not thinking this is a sign that the end of the recession is here.
Well it's a good thing I don't like Cornflakes otherwise they would be soaked right now . Power of positive thinking my friend!
I'm not sure how this is good news for buyers or sellers.
Government owning all the bad assets feels bad to me. Maybe it stops the death spiral of the investment banks. Hard to see how it "bottoms" housing.
Perhaps, if government starts forgiving principle for homeowners that purchased at the peak and re-setting mortgage obligations then people will be able to stay in their homes and the foreclosures will go down. We will have to wait and see final details. See ya all tomorrow.
It will put those "I'm waiting for the bottom to drop" doom and gloomers into a panic! Especially if interest rates creep up a hair overnight
Do I smell Seller's Market ..ok, ok..maybe I'm pushing it a little
truth is - this is a sign that the end of the recession is here and that we are heading for a recovery..if it continues and/or stabilizes!!!!
It was 1 bull day in the market. From what I read RE bottom may not come until sometime mid 2009.
I also would not be calling "bottom" because billions of dollars got injected into the system by our government.
Seems there was a rally on Wallstreet today! This is great news for people selling their homes as things should begin to pick up if this rally continues.
Hoorah! After the market close today, the Dow was only down 25% or so year over year! Get out the giant coins and let's start a chorus line singing "We're in the Money."
This changes everything! I'm looking out my window right now and-- wait-- that's weird. There's still over 11 months of inventory out there. Hmmm. And, uh, all those Alt-A's are still up in the sky like a guillotine waiting to drop. Uh oh. Lemme check something....foreclosure classifieds in the back of the neighborhood paper still outweigh the rest of the paper. Did I just see a leaf fall off a tree? Is this still selling season?
What happened? I thought you said everything changed today.
Guess I need more than one good day on the stock exhange to get me off the fence.
Hoorah! After the market close today, the Dow was only down 25% or so year over year! Get out the giant coins and let's start a chorus line singing "We're in the Money."
This changes everything! I'm looking out my window right now and-- wait-- that's weird. There's still over 11 months of inventory out there. Hmmm. And, uh, all those Alt-A's are still up in the sky like a guillotine waiting to drop. Uh oh. Lemme check something....foreclosure classifieds in the back of the neighborhood paper still outweigh the rest of the paper. Did I just see a leaf fall off a tree? Is this still selling season?
What happened? I thought you said everything changed today.
Guess I need more than one good day on the stock exhange to get me off the fence.
OUCH! What State do you live in? Guess I was warned by boo that this forum is loaded with doom and gloomers! Gees... guess I'll go back and celebrate with my NJ pals!
A one day rise in the stock market has no direct effect on the real estate market, even in good times. The underlying bad debt, liquidity, and over-connectedness problems are still too much with us, and will take years to fully resolve. Just getting basic confidence back in the system may take months. I'm all for optimism, but this event does not deliver anything to sellers.
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in millions of years.
..ok, ok..maybe I'm pushing it a little 