Comments on: Rich Dad, Underwater Dad: 21 Million Homeowners with Negative Equity or No Equity in Their Homes. 33 Percent of California Mortgages Underwater. http://www.doctorhousingbubble.com/rich-dad-underwater-dad-21-million-homeowners-with-negative-equity-or-no-equity-in-their-homes-33-percent-of-california-mortgages-underwater/ How I Learned to Love Southern California and Forget the Housing Bubble Thu, 09 Feb 2012 06:16:36 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: jb http://www.doctorhousingbubble.com/rich-dad-underwater-dad-21-million-homeowners-with-negative-equity-or-no-equity-in-their-homes-33-percent-of-california-mortgages-underwater/#comment-38448 jb Mon, 10 Aug 2009 17:36:37 +0000 http://www.doctorhousingbubble.com/?p=2126#comment-38448 J6P-- You are putting political ideology before commonsense. Partisan political arguments are convenient, but have little to do with our current economic straights--this is an argument of class struggle, not left or right. Moreover, the seeds of collapse were sown in the 1970s, and have little to do with either Democratic or Republican majority. Both parties are guilty of hasty, shortsighted, and biased legislation that rarely represents fully the interests of our country's majority. After all, when was the last time anyone in government was willing to imperil his or her career to do what is right for America? Don't pigeonhole yourself with political arguments--honestly consider what government is doing for you and I think you'll discover that, unless you are a powerful lobby with unlimited purse strings, neither is on your side. J6P–
You are putting political ideology before commonsense. Partisan political arguments are convenient, but have little to do with our current economic straights–this is an argument of class struggle, not left or right. Moreover, the seeds of collapse were sown in the 1970s, and have little to do with either Democratic or Republican majority. Both parties are guilty of hasty, shortsighted, and biased legislation that rarely represents fully the interests of our country’s majority. After all, when was the last time anyone in government was willing to imperil his or her career to do what is right for America? Don’t pigeonhole yourself with political arguments–honestly consider what government is doing for you and I think you’ll discover that, unless you are a powerful lobby with unlimited purse strings, neither is on your side.

]]> By: Sabin Figaro http://www.doctorhousingbubble.com/rich-dad-underwater-dad-21-million-homeowners-with-negative-equity-or-no-equity-in-their-homes-33-percent-of-california-mortgages-underwater/#comment-38431 Sabin Figaro Mon, 10 Aug 2009 14:27:43 +0000 http://www.doctorhousingbubble.com/?p=2126#comment-38431 @thedog Plus the conveyor belt. How did the rate go down when 275,000 jobs were lost? Because discouraged workers fell off the conveyor belt into the trash bin. Every week thousands more lose their benefits. I've seen engineers working at Radio Shack and Staples, but they're employed! Green shoots you say? It's an obamanation. @thedog

Plus the conveyor belt. How did the rate go down when 275,000 jobs were lost? Because discouraged workers fell off the conveyor belt into the trash bin. Every week thousands more lose their benefits. I’ve seen engineers working at Radio Shack and Staples, but they’re employed! Green shoots you say? It’s an obamanation.

]]> By: J6P http://www.doctorhousingbubble.com/rich-dad-underwater-dad-21-million-homeowners-with-negative-equity-or-no-equity-in-their-homes-33-percent-of-california-mortgages-underwater/#comment-38426 J6P Mon, 10 Aug 2009 08:55:03 +0000 http://www.doctorhousingbubble.com/?p=2126#comment-38426 Just remember next time you go to the ballot box that things started collapsing about the time the Democrat Party got majorities in the House and Senate. The Republicans are stupid--extremely stupid--but they don't hate anybody. The Democrats are evil and they hate whites and businesses. If they CAN shaft them they WILL shaft them. What do you think Obama is doing right now? If he openly announced it was his intention to completely destroy the American economy, what would he do differently than he is already doing? Business people saw Obama coming, which is why the economy is in the state it's in, and it won't get better until there is at least one House of Congress that is back in Republican hands. The Democrats are the fast road to bankruptcy for businesses, and both the businesses and the Demos know it. Who could blame the businesses for running scared? Just remember next time you go to the ballot box that things started collapsing about the time the Democrat Party got majorities in the House and Senate. The Republicans are stupid–extremely stupid–but they don’t hate anybody. The Democrats are evil and they hate whites and businesses. If they CAN shaft them they WILL shaft them. What do you think Obama is doing right now? If he openly announced it was his intention to completely destroy the American economy, what would he do differently than he is already doing?

Business people saw Obama coming, which is why the economy is in the state it’s in, and it won’t get better until there is at least one House of Congress that is back in Republican hands. The Democrats are the fast road to bankruptcy for businesses, and both the businesses and the Demos know it. Who could blame the businesses for running scared?

]]> By: Bottom Feeder http://www.doctorhousingbubble.com/rich-dad-underwater-dad-21-million-homeowners-with-negative-equity-or-no-equity-in-their-homes-33-percent-of-california-mortgages-underwater/#comment-38420 Bottom Feeder Mon, 10 Aug 2009 05:38:46 +0000 http://www.doctorhousingbubble.com/?p=2126#comment-38420 I know there must be many Real estate a-holes selling half the houses they were used to, at half the previous commissions. (a 75% hit?) That has GOT to be hurting if not now, eventually. I say good! The real estate profession partakes in legal price fixing and is an utter scam. I hope this downturn thoroughly re-shapes that industry into a fee-for-service or something more reasonable than a fixed 3% for each idiot. (I know there are exceptions.) I'm sure that many, many high-end RE A's are living off credit cards, defaulting on the mortgage, as we speak and are waiting for the next sale to make them whole. That's not a sustainable way to live, and the dam will burst at some point. As for loan officers, etc.....many have turned into loan modification officers, and are scamming their way along the bottom. They might actually might not be in that bad shape, but for how long will these scams put food on the table? I know there must be many Real estate a-holes selling half the houses they were used to, at half the previous commissions. (a 75% hit?) That has GOT to be hurting if not now, eventually. I say good! The real estate profession partakes in legal price fixing and is an utter scam. I hope this downturn thoroughly re-shapes that industry into a fee-for-service or something more reasonable than a fixed 3% for each idiot. (I know there are exceptions.) I’m sure that many, many high-end RE A’s are living off credit cards, defaulting on the mortgage, as we speak and are waiting for the next sale to make them whole. That’s not a sustainable way to live, and the dam will burst at some point. As for loan officers, etc…..many have turned into loan modification officers, and are scamming their way along the bottom. They might actually might not be in that bad shape, but for how long will these scams put food on the table?

]]> By: thedog http://www.doctorhousingbubble.com/rich-dad-underwater-dad-21-million-homeowners-with-negative-equity-or-no-equity-in-their-homes-33-percent-of-california-mortgages-underwater/#comment-38412 thedog Mon, 10 Aug 2009 01:45:37 +0000 http://www.doctorhousingbubble.com/?p=2126#comment-38412 Are any of you suspicious of unemployment numbers that we hear daily? What I mean is, sometimes I don't think those numbers accurately reflect the reality of unemployment because they only take into account those workers who apply for unemployment benefits (as I understand it) and whose employers pay into the system. But what about all those real estate folks (loan officers, RE agents, realtors, developers, builders, contractors, tradesmen, etc) who were self-employed/1099 workers and who are not currently making enough to survive each month? Are they counted in the unemployment numbers? If not, I would guess that true unemployment in Cali is closer to 20%. Any thoughts? Are any of you suspicious of unemployment numbers that we hear daily? What I mean is, sometimes I don’t think those numbers accurately reflect the reality of unemployment because they only take into account those workers who apply for unemployment benefits (as I understand it) and whose employers pay into the system. But what about all those real estate folks (loan officers, RE agents, realtors, developers, builders, contractors, tradesmen, etc) who were self-employed/1099 workers and who are not currently making enough to survive each month? Are they counted in the unemployment numbers? If not, I would guess that true unemployment in Cali is closer to 20%. Any thoughts?

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