US residential real estate in its worst recession in 16 years

[one...two...tree 2,762]

Right, that's why I call the free market a theoretical construct. It's kind of like those "thought experiments" in physics where you assume gravity doesn't exist and then theorize on the forces that act on that ball you just threw into the air. It's purely academic.

But the problem is that there are free market advocates who really believe it's achievable. I've known a good number Libertarians that are that way...anarchists.

[w¡n9Nµ7 §£@¥€r 123]

As delusional as true believers in Communism.

Anyway, back on topic... was browsing and ran into this -

Bad Credit is OK!

[one...two...tree 2,762]

As delusional as true believers in Communism.

Anyway, back on topic... was browsing and ran into this -

Bad Credit is OK!

Amen, brother.

...and as far as Bad Credit...lets limit government guarantees to only the lenders who follow reasonable guidelines for granting loans.

[w¡n9Nµ7 §£@¥€r 123]

Steven,

Any real attempt to enforce strict underwriting guidelines will hurt the poor the most.

[Ban Hammer 14,569]

Steven,

Any real attempt to enforce strict underwriting guidelines will hurt the poor the most.

i was waiting for someone to realize that steven has been busy touting stricter laws.........

[Dan J 277]

Steven,

Any real attempt to enforce strict underwriting guidelines will hurt the poor the most.

Yeah and No, I will make it harder for the to gain wealth, but on the other hand, a house really is a good path to wealth anymore, its just as risky as any other investment. Enforcing stricter underwriting guidelines wont be so much of a problem if there were cheaper houses/condos/townhouses to buy.

[one...two...tree 2,762]

Steven,

Any real attempt to enforce strict underwriting guidelines will hurt the poor the most.

We're sticking it to 'em with these predator lending practices. There will always be a demand for housing, particularly with lower income families and they all can't live in clown houses...

[Ban Hammer 14,569]

Steven,

Any real attempt to enforce strict underwriting guidelines will hurt the poor the most.

We're sticking it to 'em with these predator lending practices. There will always be a demand for housing, particularly with lower income families and they all can't live in clown houses...

i hear you can get surplus trailers from fema real cheap.....

Edited July 26, 2007 by charlesandnessa

[one...two...tree 2,762]

Steven,

Any real attempt to enforce strict underwriting guidelines will hurt the poor the most.

We're sticking it to 'em with these predator lending practices. There will always be a demand for housing, particularly with lower income families and they all can't live in clown houses...

i hear you can get surplus trailers from fema real cheap.....

Better find one for myself, being that I don't make enough to afford anything remotely close to house in the OC.

Home price hits record

But the median of $645,000 in June may be distorted by slow sales and by a lack of buyers for lower-cost homes.

By JEFF COLLINS

The Orange County Register

The median price for an Orange County home returned to record territory last month, but experts warned home sellers against popping champagne corks.

http://www.ocregister.com/money/median-sal...47-homes-market

[Mr. Big Dog 10,747]

Homes in our neighborhood still sell at above what we paid for our home. And we actually noticed places getting sold again. Many were on the market for a year or more but now they seem to be selling. I checked some of the sales prices of the recently sold homes online and they don't have me worried.

Edited July 26, 2007 by ET-US2004

[smoke20 0]

Homes in our neighborhood still sell at above what we paid for our home. And we actually noticed places getting sold again. Many were on the market for a year or more but now they seem to be selling. I checked some of the sales prices of the recently sold homes online and they don't have me worried.

you might want to start getting worried. here in oklahoma a lot of the recent home purchases have been by wealthy people out of state. they're buying them up & renting them out section-8(gov't assisted rent payment). property values are starting to tank. i've thought about it myself...buy a house or 2 in foreclosure on a 30-year note ($500 a month) rent them out section-8 for $700-800 a month to the state. the state even pays to fix the house if the renter trashes it.

edit:one of these days i'm gonna learn how to spell.

Edited July 26, 2007 by smoke20

[Mr. Big Dog 10,747]

Homes in our neighborhood still sell at above what we paid for our home. And we actually noticed places getting sold again. Many were on the market for a year or more but now they seem to be selling. I checked some of the sales prices of the recently sold homes online and they don't have me worried.

you might want to start getting worried. here in oklahoma a lot of the recent home purchases have been by wealthy people out of state. they're buying them up & renting them out section-8(gov't assisted rent payment). property values are starting to tank. i've thought about it myself...buy a house or 2 in foreclosure on a 30-year note ($500 a month) rent them out section-8 for $700-800 a month to the state. the state even pays to fix the house if the renter trashes it.

Those recently sold homes are owner occupied.

[smoke20 0]

Homes in our neighborhood still sell at above what we paid for our home. And we actually noticed places getting sold again. Many were on the market for a year or more but now they seem to be selling. I checked some of the sales prices of the recently sold homes online and they don't have me worried.

you might want to start getting worried. here in oklahoma a lot of the recent home purchases have been by wealthy people out of state. they're buying them up & renting them out section-8(gov't assisted rent payment). property values are starting to tank. i've thought about it myself...buy a house or 2 in foreclosure on a 30-year note ($500 a month) rent them out section-8 for $700-800 a month to the state. the state even pays to fix the house if the renter trashes it.

Those recently sold homes are owner occupied.

maybe now. but what about later? if someone comes into your neighborhood & starts buying up houses you might want to sell quick. its just something if noticed here, but i'm sure its happening everywhere.

[Pinocchio Liberal 268]

I am waiting to POUNCE!

[Mr. Big Dog 10,747]

Homes in our neighborhood still sell at above what we paid for our home. And we actually noticed places getting sold again. Many were on the market for a year or more but now they seem to be selling. I checked some of the sales prices of the recently sold homes online and they don't have me worried.

you might want to start getting worried. here in oklahoma a lot of the recent home purchases have been by wealthy people out of state. they're buying them up & renting them out section-8(gov't assisted rent payment). property values are starting to tank. i've thought about it myself...buy a house or 2 in foreclosure on a 30-year note ($500 a month) rent them out section-8 for $700-800 a month to the state. the state even pays to fix the house if the renter trashes it.

Those recently sold homes are owner occupied.

maybe now. but what about later? if someone comes into your neighborhood & starts buying up houses you might want to sell quick. its just something if noticed here, but i'm sure its happening everywhere.

Anything can happen later. All I have to go by is what I have around me now and what the general trends in my neighborhood are. Thus far, it doesn't look bad. If that changes, there ain't much I can do about it. Gotta live around here somewhere and I happen to like my neighborhood.