Post jobs and track applicants with Jobbered, our Applicant Tracking Software (Advertisement)

Bottom


By SubOink   Follow   Tue, 24 Jul 2012, 2:10pm   2,547 views   21 comments
In Los Angeles CA 90077   Watch (1)   Share   Quote   Permalink   Like   Dislike (1)  

http://finance.yahoo.com/blogs/daily-ticker/housing-bear-turns-cautiously-bullish-201746965.html

Viewing Comments 1-21 of 21     Last »     See most liked comments

  1. Regex


    Follow
    Befriend (1)
    9 threads
    5 comments

    1   3:03pm Tue 24 Jul 2012   Share   Quote   Permalink   Like (3)   Dislike  

    winter is coming

  2. bmwman91


    Follow
    Befriend (7)
    40 threads
    1,539 comments

    2   3:11pm Tue 24 Jul 2012   Share   Quote   Permalink   Like (7)   Dislike  

    I hope this is the bottom and that all the fence-sitters get out and frenzy to buy. That should lower rental demand, and I'll be back to negotiating rent decreases with my landlord.

  3. errc


    Follow
    Befriend (6)
    45 threads
    2,093 comments
    32 male

    3   3:22pm Tue 24 Jul 2012   Share   Quote   Permalink   Like (2)   Dislike  

    Nobody can ever explain WHY its the bottom, we're all just so anxiously awaiting finally getting this rusty old truck out of the mud so we can start plodding down the road again. Tires just keep spinning.

    In other news, the important news, that nobody ever talks about, the 10yrT hit another bottom today. ANOTHER record low as it breeched the 1.40 mark down to 1.39. This economy is like a worn out tire on that old truck, spinning in the mud. Its allowed to keep spinning, even with that gaping hole in it, so long as the fuddy duddies keep blowing more air into the valve stem together. Problem is, the hole is still there, and the fuddy duddies are growing tired of blowing, just to keep spinning to nowhere. Eventually, rates hit a bottom, and then the game is over,,,,,

    Anecdotally, I sat down with a broker on fri to talk re-fi. Less then three weeks after locking in 3.75 with wfc, this local shop has me at 3.25. His words "no way rates can go any lower". In my head, I'm thinking, how many time has Joe Mortgage broker uttered those same words over the last four years?? I'm not in a real hurry, knowing that the only way to keep the whole thing from collapsing on itself, is to keep lowering rates. Eventually, the snake eats his entire tail,,,,and rates bottom. Then, KABLOOEEY

  4. PockyClipsNow


    Follow
    Befriend
    19 threads
    1,582 comments
    Los Angeles, CA

    4   3:30pm Tue 24 Jul 2012   Share   Quote   Permalink   Like (1)   Dislike  

    Yes rates are the big question mark.

    Down since 1980 and still going down.

    BUT there tons of room for rates to go down. Your 600k house at 3% mortgage could soon be a 1.2m house with 1.5% mortgage.

    Mortgage brokers always want you to think rates 'will never be this low again' to maximize the fleece crop.

    I would get an IO ARM loan now 5 or 7 year. If rates spike and payment goes up you simply pay it off (if you have the means) or you squat for a few years thus 'getting your dp back' from squating and let it foreclose. I see zero risk in an ARM yet people love the 30 year fixed option.

  5. CrazyMan


    Follow
    Befriend
    510 comments
    Boulder Creek, CA

    5   3:36pm Tue 24 Jul 2012   Share   Quote   Permalink   Like (1)   Dislike  

    The comments in the article sum in up nicely.

    It's nonsense.

  6. errc


    Follow
    Befriend (6)
    45 threads
    2,093 comments
    32 male

    6   8:42pm Tue 24 Jul 2012   Share   Quote   Permalink   Like (1)   Dislike  

    I don't think rates need to go up to blow the whole thing up. Once they can't move any lower,,,GAME OVER

    But you are correct, and we've talked about this before. Rates are relative. The long, slow, walk from 5% to 4% was a 20% drop. 20% drop from 1.4, is 1.12%

    I'm wondering what happens, if anything, once there's nobody left to re-fi? If I pull the trigger on 30yr @3.25, what would it take for me to ever re-fi again? My TI is already north of 35% the monthly friggin payment! Interest rate only toys with the math so much. Imagine if the unimaginable, they did away with the preferential tax treatments,,,,,

  7. freak80


    Follow
    Befriend
    65 threads
    5,520 comments
    Corning, NY

    7   9:28pm Tue 24 Jul 2012   Share   Quote   Permalink   Like (1)   Dislike  

    errc says

    In other news, the important news, that nobody ever talks about, the 10yrT hit another bottom today. ANOTHER record low as it breeched the 1.40 mark down to 1.39.

    That's the result of too much money chasing too few investments. "Supply-Side Economics" has hit a brick wall. It's time for some "Demand-Side Economics."

  8. SubOink


    Follow
    Befriend (2)
    11 threads
    814 comments
    Los Angeles, CA

    8   10:43pm Tue 24 Jul 2012   Share   Quote   Permalink   Like   Dislike  

    Regex says

    winter is coming

    and then spring...

  9. Homeboy


    Follow
    Befriend
    37 threads
    3,259 comments

    9   10:48pm Tue 24 Jul 2012   Share   Quote   Permalink   Like (1)   Dislike  

    I'm just laughing at the fact they're calling Zillow bearish.

  10. thomaswong.1986


    Follow
    Befriend
    24 threads
    5,658 comments

    10   11:29pm Tue 24 Jul 2012   Share   Quote   Permalink   Like (1)   Dislike  

    errc says

    Nobody can ever explain WHY its the bottom

    perhaps the public should better understand there are (or shouldnt) be bottoms or tops.... (how far up will it go)... ultimately prices over the long run fall back to the norm.

    it should be a warning sign if anything else.. "variance analysis" anyone ?

    Everyone else seemed to missed the signs and ingnored what Robert Shiller was saying for years, until it was too late.

  11. pazuzu


    Follow
    Befriend
    6 threads
    195 comments

    11   3:36pm Mon 5 Nov 2012   Share   Quote   Permalink   Like   Dislike  

    "I'm just laughing at the fact they're calling Zillow bearish."

    LMAO, yes that's a pretty stupid story.

  12. The Professor


    Follow
    Befriend (5)
    37 threads
    1,904 comments
    Premium

    12   4:03pm Mon 5 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected  

    from the article:
    ""We're not going to see a flood of foreclosures but a steady drip over the next 2-to-4 years," Humphries predicts. Investor demand will be "sufficient to absorb the drip of foreclosures.""

    Now that house prices are at truly affordable levels the banks plan is to slowly dribble the foreclosures in the system to investors who can then rent them out at double PITI.

    The banks plan is to make the rich richer.

    Now the first time buyers have to rent. The move up buyers are stuck underwater. The move down buyers have no one to sell to. The economy gets stuck with a mess.

    Too big to fail is bigger than it was before we designated them too big to fail and bailed them out. How long will the purveyors of the fraud that blew up this bubble be allowed to operate?

  13. Mobi


    Follow
    Befriend
    1 threads
    263 comments

    13   1:33pm Tue 6 Nov 2012   Share   Quote   Permalink   Like   Dislike  

    The Professor says

    Now that house prices are at truly affordable levels the banks plan is to slowly dribble the foreclosures in the system to investors who can then rent them out at double PITI.
    The banks plan is to make the rich richer.
    Now the first time buyers have to rent. The move up buyers are stuck underwater. The move down buyers have no one to sell to. The economy gets stuck with a mess.

    You are right. Good timing to buy and be a landlord.

  14. toothfairy


    Follow
    Befriend
    41 threads
    890 comments
    Oakland, CA

    14   2:05pm Tue 6 Nov 2012   Share   Quote   Permalink   Like   Dislike (1)  

    people still waiting for the bottom are getting ridiculous at this point.
    I just called on a house that sold for $250k in 2010 it's now selling for $475k.

    you guys missed the bottom.

  15. SubOink


    Follow
    Befriend (2)
    11 threads
    814 comments
    Los Angeles, CA

    15   3:07pm Tue 6 Nov 2012   Share   Quote   Permalink   Like   Dislike  

    robertoaribas says

    when WAR says it is time to buy

    lol - except he will NEVER say its time to buy. He's a permabear.

    Even when prices have doubled from here, he'll still say that 1995 prices will return and that you are lying...and thats its because of government intervention only, a total bubble...

    in essence, he is exactly the opposite of what he hates the most...realtors that say prices go nothing but up. In his book, prices only go down.

  16. errc


    Follow
    Befriend (6)
    45 threads
    2,093 comments
    32 male

    16   3:16pm Tue 6 Nov 2012   Share   Quote   Permalink   Like   Dislike  

    War says

    Why buy when prices are falling?

    Because interest rates are falling, and we only shop to a monthly payment. Fuck all to price tags and principal repayment, that old hat is for suckers! This is the new economy, buy rentals, cheerlead on massive market intervention, vote democrat, and get rich by extracting government insured economic rent from the poor suckers on their hamster wheels in their cages

  17. errc


    Follow
    Befriend (6)
    45 threads
    2,093 comments
    32 male

    17   3:20pm Tue 6 Nov 2012   Share   Quote   Permalink   Like   Dislike  

    You're just too effing stupid to participate in the graft yourself. You probably voted republican too, you jackass!

    What you need is an American education in one of the colleges. Take out a fat loan and piss away five years of your life. Then at least you'll have that piece of paper that proves you're smarter then all the other dumb dumbs. And then you'll be ready to lever yourself to the hilt for some hyperinflated land with a shitshack ontop of it, and do what's right, and pay your fair share to the banks

  18. PockyClipsNow


    Follow
    Befriend
    19 threads
    1,582 comments
    Los Angeles, CA

    18   7:07pm Tue 6 Nov 2012   Share   Quote   Permalink   Like   Dislike (1)  

    toothfairy says

    people still waiting for the bottom are getting ridiculous at this point.

    I just called on a house that sold for $250k in 2010 it's now selling for $475k.

    you guys missed the bottom.

    Yeah it beyond stupid. Its like waiting for your etoys stock to bounce back. Bottom is in the past but we are still pretty much at rental parity so buying to live in is still a good deal.

  19. SubOink


    Follow
    Befriend (2)
    11 threads
    814 comments
    Los Angeles, CA

    19   2:43pm Wed 7 Nov 2012   Share   Quote   Permalink   Like   Dislike  

    War says

    PockyClipsNow says

    Its like waiting for your etoys stock to bounce back.

    Yeah.. Sounds just like you underwater home-debtors.

    DO NOT buy housing now. And NEVER trust realtards.

    Never trust realtors but trust trolls like "War"...

  20. Trivial


    Follow
    Befriend
    3 threads
    41 comments

    20   2:56pm Wed 7 Nov 2012   Share   Quote   Permalink   Like   Dislike  

    listen to war, do not buy, he does not want unnecessary competition.

  21. SubOink


    Follow
    Befriend (2)
    11 threads
    814 comments
    Los Angeles, CA

    21   3:43pm Wed 7 Nov 2012   Share   Quote   Permalink   Like   Dislike  

    War says

    We have enough inventory of new houses.

    Yes, tons!

SubOink is moderator of this thread.

Email

Username

Watch comments by email
Home   Tips and Tricks   Questions or suggestions? Mail p@patrick.net   Thank you for your kind donations

Page took 185 milliseconds to create.