Comments on: California Solution for Budget Crisis: Minimum Wage and Laying off People. But Who Will Buy the $500,000 Foreclosures? http://www.doctorhousingbubble.com/california-solution-for-budget-crisis-minimum-wage-and-laying-off-people-but-who-will-buy-the-500000-foreclosures/ How I Learned to Love Southern California and Forget the Housing Bubble Tue, 06 Jan 2009 09:38:29 +0000 http://wordpress.org/?v=2.2.2 By: Robin Thomas http://www.doctorhousingbubble.com/california-solution-for-budget-crisis-minimum-wage-and-laying-off-people-but-who-will-buy-the-500000-foreclosures/#comment-20841 Robin Thomas Mon, 28 Jul 2008 04:16:22 +0000 http://www.doctorhousingbubble.com/california-solution-for-budget-crisis-minimum-wage-and-laying-off-people-but-who-will-buy-the-500000-foreclosures/#comment-20841 Will the bailout keep the house prices artificially propped up? I'm FURIOUS about this. I thought that prices might come down to the point where a teacher could get a house. What do you guys think? Is this going to stop prices from falling or is it just a giveaway to Wall St.? Will the bailout keep the house prices artificially propped up? I’m FURIOUS about this. I thought that prices might come down to the point where a teacher could get a house.
What do you guys think? Is this going to stop prices from falling or is it just a giveaway to Wall St.?

]]> By: Duboiz http://www.doctorhousingbubble.com/california-solution-for-budget-crisis-minimum-wage-and-laying-off-people-but-who-will-buy-the-500000-foreclosures/#comment-20791 Duboiz Sun, 27 Jul 2008 07:07:09 +0000 http://www.doctorhousingbubble.com/california-solution-for-budget-crisis-minimum-wage-and-laying-off-people-but-who-will-buy-the-500000-foreclosures/#comment-20791 I just finish reading the rules and qualification for the new bill and I see some escape holes that FB might be use. Unless I did not read it correctly I can see a situation that can beat the system. Let say that someone bought a home in California with 0 down at the top of the market in 2005-6 for $500K. Now that today value is $350 the FB with the new law will rework his loan with the lander at 90% of today value so the new loan is $315K. Now, with a rightly fear that the house will go down another $100K in the next year or two, I don't see what hold the FB to put it on the market and sell it at or blow market value and exit with no credit damage that would have happened if he defaulted on the original $500K loan. Any thoughts... I just finish reading the rules and qualification for the new bill and I see some escape holes that FB might be use. Unless I did not read it correctly I can see a situation that can beat the system. Let say that someone bought a home in California with 0 down at the top of the market in 2005-6 for $500K. Now that today value is $350 the FB with the new law will rework his loan with the lander at 90% of today value so the new loan is $315K. Now, with a rightly fear that the house will go down another $100K in the next year or two, I don’t see what hold the FB to put it on the market and sell it at or blow market value and exit with no credit damage that would have happened if he defaulted on the original $500K loan. Any thoughts…

]]> By: RLJ http://www.doctorhousingbubble.com/california-solution-for-budget-crisis-minimum-wage-and-laying-off-people-but-who-will-buy-the-500000-foreclosures/#comment-20694 RLJ Fri, 25 Jul 2008 21:40:43 +0000 http://www.doctorhousingbubble.com/california-solution-for-budget-crisis-minimum-wage-and-laying-off-people-but-who-will-buy-the-500000-foreclosures/#comment-20694 Check This Nonsense Out: http://www.foreclosures.com/www/blog/ I sent Alexis and email in response: You're right, this Housing Bill Does Have It All: - Government intervention to inhibit recovery of the economy by socializing losses of speculators. (YEAH!) - A continuation of unchecked inflation and devaulation of the dollar as a result of reckless rate cuts to prop up unsustatiable housing prices. You think falling house prices are a problem? Try feeding your family when food costs twice as much as it does today. (YEAH!) - 300 billion + a blank check to bail out those who got us in trouble in the first place curtsey of the taxpayer. (YEAH!) A government ruled by special interests will do everything they can to socialize the losses of companies and individuals who should have known better and ensure that housing will remain unaffordable for an entire generation of young Americans who have worked hard to save and were prudent enough to not live beyond their means. YIPPIE! Check This Nonsense Out:

http://www.foreclosures.com/www/blog/

I sent Alexis and email in response:

You’re right, this Housing Bill Does Have It All:

- Government intervention to inhibit recovery of the economy by socializing losses of speculators. (YEAH!)

- A continuation of unchecked inflation and devaulation of the dollar as a result of reckless rate cuts to prop up unsustatiable housing prices. You think falling house prices are a problem? Try feeding your family when food costs twice as much as it does today. (YEAH!)

- 300 billion + a blank check to bail out those who got us in trouble in the first place curtsey of the taxpayer. (YEAH!)

A government ruled by special interests will do everything they can to socialize the losses of companies and individuals who should have known better and ensure that housing will remain unaffordable for an entire generation of young Americans who have worked hard to save and were prudent enough to not live beyond their means.

YIPPIE!

]]> By: Young and Bitter http://www.doctorhousingbubble.com/california-solution-for-budget-crisis-minimum-wage-and-laying-off-people-but-who-will-buy-the-500000-foreclosures/#comment-20693 Young and Bitter Fri, 25 Jul 2008 21:35:27 +0000 http://www.doctorhousingbubble.com/california-solution-for-budget-crisis-minimum-wage-and-laying-off-people-but-who-will-buy-the-500000-foreclosures/#comment-20693 Check this nonsense out: http://www.foreclosures.com/www/blog/ My favorite line is: "This legislation is designed to restore trust in Fannie and Freddie, and therefore in the U.S. housing market. It will absolutely mean that the housing slump will not get worse, and will end sooner than most can imagine." Maybe she accidently hit herself over the head with that phone she's picture with. I was upset enough to send her this email: You're right, this Housing Bill Does Have It All: - Government intervention to inhibit recovery of the economy by socializing losses of speculators. (YEAH!) - A continuation of unchecked inflation and devaulation of the dollar as a result of reckless rate cuts to prop up unsustatiable housing prices. You think falling house prices are a problem? Try feeding your family when food costs twice as much as it does today. (YEAH!) - 300 billion + a blank check to bail out those who got us in trouble in the first place curtsey of the taxpayer. (YEAH!) A government ruled by special interests will do everything they can to socialize the losses of companies and individuals who should have known better and ensure that housing will remain unaffordable for an entire generation of young Americans who have worked hard to save and were prudent enough to not live beyond their means. YIPPIE! Check this nonsense out:

http://www.foreclosures.com/www/blog/

My favorite line is:

“This legislation is designed to restore trust in Fannie and Freddie, and therefore in the U.S. housing market. It will absolutely mean that the housing slump will not get worse, and will end sooner than most can imagine.”

Maybe she accidently hit herself over the head with that phone she’s picture with. I was upset enough to send her this email:

You’re right, this Housing Bill Does Have It All:

- Government intervention to inhibit recovery of the economy by socializing losses of speculators. (YEAH!)

- A continuation of unchecked inflation and devaulation of the dollar as a result of reckless rate cuts to prop up unsustatiable housing prices. You think falling house prices are a problem? Try feeding your family when food costs twice as much as it does today. (YEAH!)

- 300 billion + a blank check to bail out those who got us in trouble in the first place curtsey of the taxpayer. (YEAH!)

A government ruled by special interests will do everything they can to socialize the losses of companies and individuals who should have known better and ensure that housing will remain unaffordable for an entire generation of young Americans who have worked hard to save and were prudent enough to not live beyond their means.

YIPPIE!

]]> By: Larry http://www.doctorhousingbubble.com/california-solution-for-budget-crisis-minimum-wage-and-laying-off-people-but-who-will-buy-the-500000-foreclosures/#comment-20690 Larry Fri, 25 Jul 2008 20:25:34 +0000 http://www.doctorhousingbubble.com/california-solution-for-budget-crisis-minimum-wage-and-laying-off-people-but-who-will-buy-the-500000-foreclosures/#comment-20690 With so few buyers in the $500k range out there, you would imagine it would easy to pick up a deal for a cash-buyer. Has anybody taken a closer look where some of these screaming deals are to be had? With so few buyers in the $500k range out there, you would imagine it would easy to pick up a deal for a cash-buyer. Has anybody taken a closer look where some of these screaming deals are to be had?

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