Comments on: 5 Reasons Why The Housing Market Will Continue to Decline Until 2010: Extrapolating The Free Ride Bird and Dancing with the Housing Pied Piper. http://www.doctorhousingbubble.com/5-reasons-why-the-housing-market-will-continue-to-decline-until-2010-extrapolating-the-free-ride-bird-and-dancing-with-the-housing-pied-piper/ How I Learned to Love Southern California and Forget the Housing Bubble Sun, 12 Oct 2008 19:51:56 +0000 http://wordpress.org/?v=2.2.2 By: Nancy http://www.doctorhousingbubble.com/5-reasons-why-the-housing-market-will-continue-to-decline-until-2010-extrapolating-the-free-ride-bird-and-dancing-with-the-housing-pied-piper/#comment-25600 Nancy Tue, 07 Oct 2008 19:20:04 +0000 http://www.doctorhousingbubble.com/5-reasons-why-the-housing-market-will-continue-to-decline-until-2010-extrapolating-the-free-ride-bird-and-dancing-with-the-housing-pied-piper/#comment-25600 HELLO?! Although I know my way around, I am no economic expert but I could see there was something wrong (the water was receding before the tsunami, I guess.). When I would bring this up to people they would tell me to enjoy the ride, how prices in Florida were just too low for too long. I thought maybe I was worrying for nothing but I guess that nagging doubt was right after all. Better to listen to your gut then a expert who's first solution is to buy more of the toxic debt nobody wants. People were buying way over their head. Instead of a starter home, the young couple wanted the big house with a pool. It was hard NOT to sell a house. They got questionable loans & didn't seem to care about the penalties even after explained to them. But how can the same exact model house be going up $10,000 a month with no sign of hitting the brakes? It was a literal run away train. The builders were giddy buying up lots & completely filling in blocks of vacant land within weeks (I still have many vacant, never occupied homes around my home for 15 years with tall grass). Where were the jobs? With all the experts we hire, nobody can COUNT the number of building permits & figure in how much more or less roads, services, drainage, schools, etc. are going to be needed for this growth. These ivy league school grads are full of stale air instead of any new ideas. Our next President should have a YEARLY review with objectives & consequences, like we all have. RESUMES do matter but only the accomplishes count. Everyone can ask, "What have you done for me lately?" It's about time the People of this great country get to say, "YOUR FIRED!" Let's push our agenda...not theirs. HELLO?! Although I know my way around, I am no economic expert but I could see there was something wrong (the water was receding before the tsunami, I guess.). When I would bring this up to people they would tell me to enjoy the ride, how prices in Florida were just too low for too long. I thought maybe I was worrying for nothing but I guess that nagging doubt was right after all. Better to listen to your gut then a expert who’s first solution is to buy more of the toxic debt nobody wants.

People were buying way over their head. Instead of a starter home, the young couple wanted the big house with a pool. It was hard NOT to sell a house. They got questionable loans & didn’t seem to care about the penalties even after explained to them. But how can the same exact model house be going up $10,000 a month with no sign of hitting the brakes? It was a literal run away train. The builders were giddy buying up lots & completely filling in blocks of vacant land within weeks (I still have many vacant, never occupied homes around my home for 15 years with tall grass). Where were the jobs? With all the experts we hire, nobody can COUNT the number of building permits & figure in how much more or less roads, services, drainage, schools, etc. are going to be needed for this growth. These ivy league school grads are full of stale air instead of any new ideas.

Our next President should have a YEARLY review with objectives & consequences, like we all have. RESUMES do matter but only the accomplishes count. Everyone can ask, “What have you done for me lately?” It’s about time the People of this great country get to say, “YOUR FIRED!” Let’s push our agenda…not theirs.

]]> By: al http://www.doctorhousingbubble.com/5-reasons-why-the-housing-market-will-continue-to-decline-until-2010-extrapolating-the-free-ride-bird-and-dancing-with-the-housing-pied-piper/#comment-19378 al Thu, 03 Jul 2008 13:31:13 +0000 http://www.doctorhousingbubble.com/5-reasons-why-the-housing-market-will-continue-to-decline-until-2010-extrapolating-the-free-ride-bird-and-dancing-with-the-housing-pied-piper/#comment-19378 I think it will not decline despite of economic crisis. Shelter is a basic commodity. I think it will not decline despite of economic crisis. Shelter is a basic commodity.

]]> By: rick http://www.doctorhousingbubble.com/5-reasons-why-the-housing-market-will-continue-to-decline-until-2010-extrapolating-the-free-ride-bird-and-dancing-with-the-housing-pied-piper/#comment-9151 rick Thu, 06 Mar 2008 00:02:29 +0000 http://www.doctorhousingbubble.com/5-reasons-why-the-housing-market-will-continue-to-decline-until-2010-extrapolating-the-free-ride-bird-and-dancing-with-the-housing-pied-piper/#comment-9151 "why don’t we leave out the Dark Ages and the Inquisition out of history books?" Dark ages? You mean those with spledid sword fights and glory knights? What's wrong with that? Yeah it is in the history book, but we only want the good part of it. “why don’t we leave out the Dark Ages and the Inquisition out of history books?”

Dark ages? You mean those with spledid sword fights and glory knights? What’s wrong with that?

Yeah it is in the history book, but we only want the good part of it.

]]> By: Jes http://www.doctorhousingbubble.com/5-reasons-why-the-housing-market-will-continue-to-decline-until-2010-extrapolating-the-free-ride-bird-and-dancing-with-the-housing-pied-piper/#comment-9137 Jes Wed, 05 Mar 2008 19:12:15 +0000 http://www.doctorhousingbubble.com/5-reasons-why-the-housing-market-will-continue-to-decline-until-2010-extrapolating-the-free-ride-bird-and-dancing-with-the-housing-pied-piper/#comment-9137 Just read a brief article in the North County Times about the town of Murrietta, which is setting up foreclosure clinics (and is planning to fine banks for untended properties.) http://www.nctimes.com/articles/2008/03/05//news/top_stories/1_10_273_4_08.txt It says that over 700 houses have been foreclosed on and another 600 are starting the process. That's 1,300 houses in a city of about 95,000. Assuming each house holds about 4 residents and no one lives in apartments, then there are roughly 22,000 houses in Murrietta. So at least 1 in 22 houses in Murietta is bank owned (or just about to be)?! Just read a brief article in the North County Times about the town of Murrietta, which is setting up foreclosure clinics (and is planning to fine banks for untended properties.) http://www.nctimes.com/articles/2008/03/05//news/top_stories/1_10_273_4_08.txt
It says that over 700 houses have been foreclosed on and another 600 are starting the process. That’s 1,300 houses in a city of about 95,000. Assuming each house holds about 4 residents and no one lives in apartments, then there are roughly 22,000 houses in Murrietta. So at least 1 in 22 houses in Murietta is bank owned (or just about to be)?!

]]> By: Rockmann http://www.doctorhousingbubble.com/5-reasons-why-the-housing-market-will-continue-to-decline-until-2010-extrapolating-the-free-ride-bird-and-dancing-with-the-housing-pied-piper/#comment-9081 Rockmann Tue, 04 Mar 2008 04:14:17 +0000 http://www.doctorhousingbubble.com/5-reasons-why-the-housing-market-will-continue-to-decline-until-2010-extrapolating-the-free-ride-bird-and-dancing-with-the-housing-pied-piper/#comment-9081 Wow, great article and this really nails it "Wealth is having the freedom to do what you want. Having massive amounts of debt hanging over your head is not wealth, it is a financial albatross that will take your freedom away." Back in 2005 I saw the real estate market reaching insane levels and I got to the point where I said to myself, "Time to sell" I could hardly sleep at night when the house didn't move after a month. In October 2005 my house closed and I walked away with a very nice 6 figure sum only to have my friends say I was crazy to sell as the market was going to the moon. Fast forward to today, A friend just confided in me, he is walking away from his house. He had a second @ 15% and was always on the yearly refi program. He called the lender and said see ya. His credit was already in the dumpster, but he looked good and smelled good and drove a nice sports car. His neighbor was a speculator and owns 5 empty homes that he is unable to rent in the same neighborhood to cover his costs. He figures if he rents them at market rates, he'll lose 5-6K a month. So he's walking away as well. I live in the Seattle area and everyone is singing the same song here, "It's different, we're immune" Yeah right. My wife and I are watching the market to buy another home and figure next February or March 2009 might be a good time to get serious. This all depends on interest rates, however. The only way to prop up the dollar at this point is to raise rates, I'm afraid. The "Millionaire Next Door", should be required reading for anyone who cares about their financial future. Wow, great article and this really nails it “Wealth is having the freedom to do what you want. Having massive amounts of debt hanging over your head is not wealth, it is a financial albatross that will take your freedom away.”

Back in 2005 I saw the real estate market reaching insane levels and I got to the point where I said to myself, “Time to sell” I could hardly sleep at night when the house didn’t move after a month. In October 2005 my house closed and I walked away with a very nice 6 figure sum only to have my friends say I was crazy to sell as the market was going to the moon.

Fast forward to today, A friend just confided in me, he is walking away from his house. He had a second @ 15% and was always on the yearly refi program. He called the lender and said see ya. His credit was already in the dumpster, but he looked good and smelled good and drove a nice sports car. His neighbor was a speculator and owns 5 empty homes that he is unable to rent in the same neighborhood to cover his costs. He figures if he rents them at market rates, he’ll lose 5-6K a month. So he’s walking away as well.

I live in the Seattle area and everyone is singing the same song here, “It’s different, we’re immune” Yeah right. My wife and I are watching the market to buy another home and figure next February or March 2009 might be a good time to get serious. This all depends on interest rates, however. The only way to prop up the dollar at this point is to raise rates, I’m afraid.

The “Millionaire Next Door”, should be required reading for anyone who cares about their financial future.

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