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Huge spike in Foreclosures! Yaay!

By Bob Jones   Follow   Tue, 6 Mar 2012, 2:12pm   3,728 views   25 comments
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http://www.cnbc.com/id/46641784

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1. bgamall4 Follow Befriend (14) 755 threads 2,590 comments 63 male Las Vegas, NV bgamall4's website Premium

   1   2:36pm Tue 6 Mar 2012   Share   Quote   Permalink   Like   Dislike   Protected   Anyone who is rejoicing about people being thrown out of their houses is not thinking correctly. This will just cause more empty neighborhoods, and more blight. Prices will crash, which is good for buyers, but then, who knows the bottom. You think you find a bottom and it is never the bottom. Banks don't lend much into a declining price environment nor do they lend in a low interest environment. And who do you think bails out the banks when they collect back the properties? This is not a reason for people to cheer. Sorry Bob, but it is callous.

2. Bob Jones Follow Befriend (1) 18 threads 4 comments Holbrook, NY

   2   6:15pm Tue 6 Mar 2012   Share   Quote   Permalink   Like   Dislike   The foreclosure pipeline needs to be cleared before this problem will go away. New York has a 987 day back-log, while tens of thousands of people live in houses for free. Tear off the band-aid already, so the market can heal.

3. bgamall4 Follow Befriend (14) 755 threads 2,590 comments 63 male Las Vegas, NV bgamall4's website Premium

   3   8:16pm Tue 6 Mar 2012   Share   Quote   Permalink   Like   Dislike   Protected   69Charger says Inflated asking prices are choking the economy. Get prices down to their natural levels at early 1990's levels where they should be and watch the economy take off. Actually in Reno we are pre 1990 with lots of empty houses. Very worrisome to buy into an empty community. No doubt the Bay area has a long way to go. However, I don't think SF will crash due to the many foreign wealthy folk who want to buy there.

4. bgamall4 Follow Befriend (14) 755 threads 2,590 comments 63 male Las Vegas, NV bgamall4's website Premium

   4   7:34am Wed 7 Mar 2012   Share   Quote   Permalink   Like   Dislike   Protected   69Charger says You're gonna be shocked over the coming years as SF cycles through it birth/decline phase like all cities do. Prices Are Falling. Realtors Are Liars. You may be right, however, it is a function of international demand which lots of folks don't factor in. If that international demand stays strong, there is not much hope for a decline. The rest of the bay is a different story.

5. zzyzzx Follow Befriend (9) 416 threads 4,137 comments Baltimore, MD

   5   8:38am Wed 7 Mar 2012   Share   Quote   Permalink   Like (1)   Dislike   69Charger says Excellent news! Inflated asking prices are choking the economy. Get prices down to their natural levels at early 1990's levels where they should be and watch the economy take off.

6. bgamall4 Follow Befriend (14) 755 threads 2,590 comments 63 male Las Vegas, NV bgamall4's website Premium

   6   4:50pm Wed 7 Mar 2012   Share   Quote   Permalink   Like   Dislike   Protected   Never Trust Realtors says "It" has never been "function of international demand" nor will "it" ever be. You clowns come up with some doozies. Sorry, if you look at the Presidio and Sunset, etc, house prices do not appear to be declining. They declined for a few months and then shot up again: http://www.trulia.com/home_prices/California/San_Francisco-heat_map/

7. bgamall4 Follow Befriend (14) 755 threads 2,590 comments 63 male Las Vegas, NV bgamall4's website Premium

   7   4:53pm Wed 7 Mar 2012   Share   Quote   Permalink   Like   Dislike   Protected   And housing tracker says SF prices are going up: http://www.deptofnumbers.com/asking-prices/california/san-francisco/

8. bgamall4 Follow Befriend (14) 755 threads 2,590 comments 63 male Las Vegas, NV bgamall4's website Premium

   8   5:18pm Wed 7 Mar 2012   Share   Quote   Permalink   Like   Dislike   Protected   Never Trust Realtors says That's median ASKING price you decpetive liar. What is wrong with you? I have no connection at all to the realtors. I predicted a housing bubble in Reno NV in 2005. Don't tell me I don't know about the real estate market and crash. Here is the deal, the steady increase in asking prices does indicate a healthier market. And yes, just like Vancouver Canada, there are many wealthy foreign people who come in and buy in SF. That is fact. It is not the east bay. It isn't even Silicon Valley. It is more like NYC and London given also that it is a financial center. I have no idea in the future what will happen to SF housing prices. All I know is that they have stopped declining and are appreciating slightly as of now.

9. bgamall4 Follow Befriend (14) 755 threads 2,590 comments 63 male Las Vegas, NV bgamall4's website Premium

   9   6:39pm Wed 7 Mar 2012   Share   Quote   Permalink   Like   Dislike   Protected   Never Trust Realtors says The lying realtor got caught in his web of lies once more. lmao I am not a realtor nor do I have any interest with them. My ebook, Ponzi Housing Scheme 21st Century blasts NAR and the Realtors. You have a problem calling me a Realtor. Don't call me one again or I will seek counsel.

10. bgamall4 Follow Befriend (14) 755 threads 2,590 comments 63 male Las Vegas, NV bgamall4's website Premium

    10   6:43pm Wed 7 Mar 2012   Share   Quote   Permalink   Like   Dislike   Protected   And NTR, I also wrote this article assigning blame for the housing crisis. Most Realtors did lie about refi and lots of things, but some didn't and lost commissions for being honest. But here is my take on blame: http://www.businessinsider.com/how-to-assign-blame-for-the-housing-crisis-2011-10

11. bgamall4 Follow Befriend (14) 755 threads 2,590 comments 63 male Las Vegas, NV bgamall4's website Premium

    11   9:58pm Wed 7 Mar 2012   Share   Quote   Permalink   Like   Dislike   Protected   Never Trust Realtors says The Truth is; Prices Are Falling. Realtors Are Liars. I won't argue that except to say that inventory in SF is declining. Look at the chart at the bottom: http://www.deptofnumbers.com/asking-prices/california/san-francisco/ Now, if you say that in SF there is a huge shadow inventory of homes that will ultimately be foreclosed on then perhaps you have a case. But remember one thing, banks can keep pockets of value simply by not foreclosing and by letting people live without paying their mortgages in certain areas. Banks have that ability.

12. bgamall4 Follow Befriend (14) 755 threads 2,590 comments 63 male Las Vegas, NV bgamall4's website Premium

    12   7:43am Thu 8 Mar 2012   Share   Quote   Permalink   Like   Dislike   Protected   Never Trust Realtors says Again with the phony links and misrepresentation of the truth? Prices Are Falling. Inventory is rising. Realtors Are Liars. Do you actually have anything intelligent to say NTR? You spend the bulk of your time repeating three sentences. I engaged you with hard statistics and you repeat three sentences you have repeated over and over on this thread. If you know more that could enlighten us you need to tell us. Or pretty soon people could think you are the boy who cried wolf. Like I said before, you may be right in the long run. But if you cannot engage in a normal conversation we can't learn anything from you.

13. bgamall4 Follow Befriend (14) 755 threads 2,590 comments 63 male Las Vegas, NV bgamall4's website Premium

    13   9:33am Thu 8 Mar 2012   Share   Quote   Permalink   Like   Dislike   Protected   I thought you had the real data Mr Robot.

14. freak80 Follow Befriend (4) 52 threads 4,416 comments Corning, NY Premium

    14   9:37am Thu 8 Mar 2012   Share   Quote   Permalink   Like   Dislike   Protected   Prices (should be) Falling. But a financial center like the Bay Area has a direct pipeline of newly-created money from the Fed to keep prices artificially high.

15. bgamall4 Follow Befriend (14) 755 threads 2,590 comments 63 male Las Vegas, NV bgamall4's website Premium

    15   11:02am Thu 8 Mar 2012   Share   Quote   Permalink   Like   Dislike   Protected   wthrfrk80 says Prices (should be) Falling. But a financial center like the Bay Area has a direct pipeline of newly-created money from the Fed to keep prices artificially high. I totally agree. Look at RE prices in London and NY. Add to this the beauty of SF and that wealthy people the world over want some sort of property there.

16. bgamall4 Follow Befriend (14) 755 threads 2,590 comments 63 male Las Vegas, NV bgamall4's website Premium

    16   11:19am Thu 8 Mar 2012   Share   Quote   Permalink   Like   Dislike   Protected   Never Trust Realtors says They are falling. No they aren't, and until you show the data you have no credibility. I dare you to do something close to showing proof of your claims about SF real estate.

17. freak80 Follow Befriend (4) 52 threads 4,416 comments Corning, NY Premium

    17   11:32am Thu 8 Mar 2012   Share   Quote   Permalink   Like   Dislike   Protected   Prices are directly related to incomes and rents, adjusting for inflation. If the Chi-coms are buying up bay area RE, that will only last until their Japan-style bubble economy goes belly-up.

18. freak80 Follow Befriend (4) 52 threads 4,416 comments Corning, NY Premium

    18   11:33am Thu 8 Mar 2012   Share   Quote   Permalink   Like   Dislike   Protected   Remember when everyone was freaking out about the Japs buying up RE in the US? How'd that turn out?

19. bgamall4 Follow Befriend (14) 755 threads 2,590 comments 63 male Las Vegas, NV bgamall4's website Premium

    19   11:46am Thu 8 Mar 2012   Share   Quote   Permalink   Like   Dislike   Protected   wthrfrk80 says Remember when everyone was freaking out about the Japs buying up RE in the US? How'd that turn out? That could end, but I doubt that the Chinese will give up on SF so easily. There are a lot more Chinese than Japanese.

20. FunTime Follow Befriend (3) 38 threads 801 comments San Francisco, CA

    20   12:11pm Thu 8 Mar 2012   Share   Quote   Permalink   Like   Dislike   bgamall4 says there are many wealthy foreign people who come in and buy in SF. That is fact. Then what percentage of all buyers is it?

21. bgamall4 Follow Befriend (14) 755 threads 2,590 comments 63 male Las Vegas, NV bgamall4's website Premium

    21   1:28pm Thu 8 Mar 2012   Share   Quote   Permalink   Like   Dislike   Protected   FunTime says Then what percentage of all buyers is it? Here are some articles that seem to say it is a significant percentage: http://usa.chinadaily.com.cn/epaper/2011-05/27/content_12592237.htm http://www.sfexaminer.com/local/peninsula/2011/10/chinese-real-estate-buyers-flocking-peninsula

22. bgamall4 Follow Befriend (14) 755 threads 2,590 comments 63 male Las Vegas, NV bgamall4's website Premium

    22   2:09pm Thu 8 Mar 2012   Share   Quote   Permalink   Like   Dislike   Protected   Never Trust Realtors says I have to prove what is evident to everyone yet you provide no evidence to the contrary and demand proof from me? So, where is it evident? Do you live in the sunset district? Are you in the Presidio? Where have you observed SF prices declining and when? If you don't have data you must have personal experience.

23. freak80 Follow Befriend (4) 52 threads 4,416 comments Corning, NY Premium

    23   2:20pm Thu 8 Mar 2012   Share   Quote   Permalink   Like   Dislike   Protected   I don't think NeverTrustRealtors/69Charger/RealtorsAreLiars has any data. But he/she is entertaining.

24. freak80 Follow Befriend (4) 52 threads 4,416 comments Corning, NY Premium

    24   2:21pm Thu 8 Mar 2012   Share   Quote   Permalink   Like   Dislike   Protected   Realtors shot JFK from the grassy knoll...

25. bgamall4 Follow Befriend (14) 755 threads 2,590 comments 63 male Las Vegas, NV bgamall4's website Premium

    25   3:18am Fri 9 Mar 2012   Share   Quote   Permalink   Like   Dislike   Protected   Good grief, Charlie Brown. I thought we had an age limit of 13 on this wthrfrk80 says I don't think NeverTrustRealtors/69Charger/RealtorsAreLiars has any data. But he/she is entertaining. I would settle for a little anecdotal evidence! My contention is that these rich communities have too much involvement by the wealthy in their towns. Here is an example. In Reno, De Andrea's residents voted down a small assessment, and the golf course is closing down. That will kill house values even more and blight the planned community. But I don't think that would ever be allowed to happen in SF.