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2005 Apr 11, 5:00pm 188,247 views 117,730 comments
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tatupu70
2013 Dec 17, 3:23am
What if they want or need to sell for a job change or economic reasons but are underwater... Should they short-sell and trash their credit for a job change??
It's up to them, obviously. But, my point is that the last year has shown that historically high levels of underwater homeowners has, if anything, been a positive indicator for housing prices.
tatupu70
2013 Dec 17, 3:41am
Right... The volume of sales the underwater owners have caused this year has been outstanding....
Seriously? Did my point fly completely over your head?
The volume of sales has been low. Because fewer people have been moving... which is EXACTLY my point.
Are prices the only thing that matters, or is the ability for more people to buy up to their next house or move for better opportunities better??
That's a personal opinion. I'm not saying one is better than the other, just that underwater homeowners appears to a contributing cause for price increases.
tatupu70
2013 Dec 17, 3:44am
Um, I read your comment and quoted it twice. I made no mistake
You read it. You just didn't comprehend it.
Yes it is, which is why if CL argues that the bailout was necessary to preserve demand, and you chime in and ALSO say that saving jobs preserves demand, then yeah, it sounds a bit like you're arguing in favor of the bailout.
Well not exactly. You chimed in that GM staying in business doesn't increase demand. So I posted that while it didn't increase demand, it stopped demand from falling. Because it appeared you were trying to nitpick CL's point.
Nice. Page one of the troll playbook, I believe.
Nope-I believe page one is insulting the poster rather than actually commenting on the discussion at hand.
Ceffer
2013 Dec 17, 3:51am
With a little plastic surgery, Larry Elison would look exactly like Billy Drago, and can stand on the prow snarling and spitting chewing tobacco cuds.
I would like spinning blades, like Messala's chariot in Ben Hur, raked across the hulls of the competitors.
Larry can air lift hundreds of Great White sharks from his personal islands, the losers will chum the waters bobbing and screaming. Their first born will be sacrificed on a stone alter onshore.
Now, that would be a REAL race.
tatupu70
2013 Dec 17, 4:43am
But it seems you're all about price increases only, even with low sales volume. Why is that?? Why aren't higher sales volumes better for the economy??
I don't know-why do you think higher sales volumes are better? Better for real estate agents I guess, but otherwise what's good about a lot of people moving?
Tenpoundbass
2013 Dec 17, 4:43am
Is it just me, or does it seem like every time the Ministry of Official propaganda releases positive housing news, an Study comes along and points a Cheetos stained finger at Obama and yells "YOU LIE!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
Trickie Dickie phoned from the grave and said to thank Obama, historians, and political humorists will give him a break now.
Dan8267
2013 Dec 17, 5:28am
6.4 Million U.S. Homeowners Still Have Underwater Mortgages
18.5 Million houses are vacant all year round.
6.4M + 18.5M = 24.9 million distressed properties
There are only 150 million households in the U.S. 17% are distressed. Exactly what is propping up the housing market?
Anyone want to take a guess of the direction of the housing "recovery"??
Right you are !
bubblesitter
2013 Dec 17, 5:35am
There are only 150 million households in the U.S. 17% are distressed. Exactly what is propping up the housing market?
Nope. Those 1500 million+ Asian millionaires are poised to push the US home prices to a record high.
tatupu70
2013 Dec 17, 5:37am
I won't give you any hints, but think about that for a minute.....
I did. What do you think is good about a lot of people moving? Do you believe that there are a lot of jobs going unfilled because people can't move?
Dan8267
2013 Dec 17, 5:39am
found not guilty in court,
So was O.J.
George Zimmerman is O.J. for white conservative people. That's why this case has been so controversial and such a political hot potato.
I firmly believe that O.J. and Zimmerman are equally innocent. Take that as you will.
Dan8267
2013 Dec 17, 5:48am
APOCALYPSEFUCKisShostikovitch says
Imagine what this would add to ocean racing.
I think the rewrite of the Deed of Cup should include an unlimited snipers rule that assigns unlimited indemnity to teams to deploy offensive snipers on their boats
Hunger Game Cup
smaulgld
2013 Dec 17, 6:38am
That's a personal opinion. I'm not saying one is better than the other, just that underwater homeowners appears to a contributing cause for price increases.
Underwater homeowners might be a small contributor... The higher contributors were lower mortgage rates and investors snapping up decent inventory for cash, taking average homeowners out of the picture...
But it seems you're all about price increases only, even with low sales volume. Why is that?? Why aren't higher sales volumes better for the economy??
You are both right
the underwater homeowners keep inventory back from the market causing higher prices AND the reason they are underwater in the first place is artificially low interest rates!
Those rates are even lower now causing prices to rise even more than they other wise would.
These two posts still hold:
http://smaulgld.com/the-dark-side-of-rising-home-prices/
http://smaulgld.com/real-estates-underwaterdown-side-sticky-catch-22/
smaulgld
2013 Dec 17, 6:40am
Better for real estate agents I guess, but otherwise what's good about a lot of people moving?
I won't give you any hints, but think about that for a minute.....
People moving per se is not good or bad. People being ABLE to move and moving for economic reasons is a good thing.
People not being able to move because of their house is not good
As anyone who has been with any women knows, you often pay one way or another for their delights.
Face it: that broad was pretty hot in those bikini pics! So he was having that? Well, sometimes they make a big scene when you break up.
Zimmerman's crime: he's a dimwit. You wanna break up with a female? Quietly you remove your valuables without her knowledge FIRST.
Then you "Just sneak out the back, Jack."
Never meet with her again unless in a public starbucks, etc. where she can't make a huge scene.
Dan above you're wrong, O.J. had a long history of abusing his wife and kids.
Yeah those underwater are stuck for sure.
"Your reach exceeds your grasp" Sucker.
Oh well it's a shame.
"Sooner or later it all ends in tears..." Layer Cake.
Housing affordability will keep falling as the salesmen keep calling it a "housing recovery".
tatupu70
2013 Dec 17, 7:27am
Do people move up because their families have grown and they need a bigger house?? Do seniors move because they want to downsize their big house and move into something smaller?? Do people move to be closer to their families?
People move for a lot of reasons--some good, some bad.
When someone moves and buys a house, how many people earn dollars from that transaction. Think about that.... What type of economic input does a house sale produce from everyone involved in that transaction?
But there is no net gain to the economy. Is paying realtors a good thing? Paying transaction costs to the bank--that's a good thing??
See, it's not about "price increases", but "volume"!! Volume adds a lot more to the economy than higher prices will....
I see very little gain.
tatupu70
2013 Dec 17, 9:35am
What about paying home inspectors, surveyors, termite inspections, appraisers, mortgage loan brokers, movers, title company, attorneys, tradesmen not to mention what gets spent by upgrades to the new house: carpet, paint, appliances, blinds, furniture, cabinets, bathrooms, etc. Not to mention all the trips to the home improvement store, etc. There's probably a bunch I'm still missing...
Still think there's no "net gain" to the economy when someone moves??
I'm surprised at your response. You almost sound like a Keynesian!
New Renter
2013 Dec 17, 9:48am
There would be no end of desperately poor people lining up to take their shot at the assholes who not only destroyed any shot they had at a better life but convinced them it was their fault.
I dunno: killing the job craters with 50-cal. sniper rifles would increase their security costs, which they would just pass on to us in the form of higher prices for goods and services.
Plus: if there are no job craters, nobody will ever have jobs again!
Do you really think the "job craters" would need the excuse of more security to raise prices? Prices are ALWAYS set at the maximum the market can bear.
That's just basic capitalism.
HydroCabron
2013 Dec 17, 11:56am
Police malpractice.
No one wants these people living near our schools; it's no secret what they're capable of. The NSA should review all phone and internet activity - as well as in-home surveillance video - of any person whose profile suggests even a latent intent to sell real estate.
How many times must we cover this same ground?!
Strategist
2013 Dec 17, 12:26pm
The truth is....no one cares for the Walmart workers. They don't give a rat's ass for them. People only care for themselves. Anyone who claims otherwise is lying.
Strategist
2013 Dec 17, 12:29pm
following charges: false imprisonment by force, rape, intimidating a witness by force, assault with a deadly weapon, peeping with a concealed camera, battery, and violation of a court order.
This is what my dog does all the time. It's a crime?
Strategist
2013 Dec 17, 12:38pm
he truth is....no one cares for the Walmart workers. They don't give a rat's ass for them. People only care for themselves. Anyone who claims otherwise is lying.
Actually, if all these big companies paid better wages, the economy would get a lot better. So, yes, people should care. And people should not support Schiff, the idiot libertarian.
Schiff is an idiot, no argument there, but even idiots can be right at times.
Higher wages foe Walmart and McDonald workers means I have to pay for it. No way.
Strategist
2013 Dec 17, 12:41pm
This is what my dog does all the time. It's a crime?
Your dog peeps with a concealed camera?
According to my neighbor, that bitch knows everything. I'm pretty sure she has a concealed camera.
HydroCabron
2013 Dec 17, 1:17pm
Higher wages foe Walmart and McDonald workers means I have to pay for it. No way.
Exactly right.
It's like laws against dumping toxic waste, which make my consumer goods cost more. Fuck that: I ain't payin'.
Anytime the powerful do anything that costs money, they just pass the costs onto us.*
*Except for raising CEO and other executive compensation - that has no effect whatsoever on our pocketbooks, so nobody should say that, ever.
Strategist
2013 Dec 17, 1:24pm
You guys don't care either. Are you willing to give to the starving in Africa and Asia? I bet you have never given a penny.
People only care for themselves, and they show it every time they vote.
We have a Libertarian version of Roberto - finally things are getting interesting and the faux political party lines (of one and the same) are starting to make way for new breeds - like it ;)
APOCALYPSEFUCKisShostikovitch says
Santa Barbara REALTOR Bagged for Twisted Multiple Sex Crimes
APOCALYPSEFUCKisShostikovitch says
Santa Barbara realtor Richard Box
Dick Box?? And he was arrested for sex crimes?
He should be REAL popular in jail.
So libertarian investor Peter Schiff — who believes Wal-Mart is under no
obligation to pay its workers a dime more — went to Wal-Mart and staged an
absurd, fake version of their rally in an attempt to prove his point.
LOL, anything for attention for a failure of an investor, huh. Where was Mush, or was he holding the camera?
Dan above you're wrong, O.J. had a long history of abusing his wife and
kids.
Apparently it didn't happen unless he was convicted of it though.
OJ is innocent.
There are no large auto manufacturing firms. In today's world auto makers are assemblers of parts from subcontractors. If GM went under the other auto makers would increase production. Gm suppliers would become honda, toyota, etc. suppliers (not too had since many already are). Gm dealers would become honda,toyota, etc. dealers (not too hard since most already are).
this is entirely true of the modern supply chain, its very generic and actually provides for many diverse users customers already.. so the switch over is seamless with no disruption.
ELC
2013 Dec 17, 9:55pm
But he's stubborn and refuses to sell until he can atleast break even. Even though his original plan was to move up to a house by now. He's freelancing now so its probably harder to qualify for a new mortgage anyway.
In sales you learn, there's always two reasons someone does something. The one that sounds the best, then there's the REAL reason. He can't get a mortgage. That's the real reason.
marcus
2013 Dec 17, 10:31pm
Think about agendas ?
What agenda is more likely. The wacko Zionist agenda you describe which somehow motivates the pretend killing of 20 young children ?
Or the agenda of wackos who are afraid their guns are going to be taken away by a fascist Zionist government.
Whcih Agenda is harder to pull off ?
Faking the murder of 20 children ?
Or coming up with supposedly compelling evidence that somehow shows it was fake ?
How did they shut up all the first responders and others who would have seen the aftermath had it happened, but didn't ?
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