cfish

30 Comments

    • ON: Tue Sep 23rd 04:52 AM
      Commented on:
      Las Vegas Real Estate: Cash Is King
      i think he lied.
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    • ON: Sun Aug 17th 13:07 PM
      Commented on:
      Oil, Housing and the Dollar
      25 billion dollars can control oil futures? You have no idea how trading works.
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    • ON: Mon Jul 28th 13:25 PM
      Commented on:
      The Housing Bill: Uncle Sam Is Moving Into the Spare Bedroom
      @233593:

      And what do you think determines the current market value when there isn't a market? All those models failed to do so. Banks can easily find someone to appraise them at full value of $500k and scam the tax payers money to bail them out.

      If banks let houses go into foreclosure, it will lose about half of the loan balance when all said and done. Any loss smaller than that is better. Especially if they can bribe people to appraise houses at higher value.
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    • ON: Mon Jun 30th 14:03 PM
      Commented on:
      U.S. Housing Market Forecast: 2008-2010
      Sounds reasonable to me. It's hard to time any market bottom, so it looks reasonable as a speculation. We know that bad policy will prolong the pain but we don't know what kind of policy will be executed in the future.

      The drop not a scary reality to me; I own no home because I saw this coming. The moral hazzard of the modern system, however, is pretty scary.
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    • ON: Fri May 16th 14:05 PM
      Commented on:
      Foreclosures Prove Loan Modification Isn't Working
      I totally agree that banks are impaired from doing thier best to clear out the inventory, but I didn't realize that they needed more cash infusion to do it. This depression could to be long. I don't think it will be as long as Japan's bubble crash because Americans are much more willing to clean up the mess, but if they have little power to do that, we have a lot more trouble ahead.
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    • ON: Mon May 12th 12:22 PM
      Commented on:
      Saving the Economy with IRA Funds
      So you wanna make people throw thier IRA money into the fire? Hahahaha
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    • ON: Sun May 11th 12:46 PM
      Commented on:
      Seeking Foreclosure Riches: What Does it All Mean?
      GMM: do you really think you'll get a another home loan in 3 years after the foreclosure that made the lender lose 200k?

      So, the dumb money is chasing real estate, foreclosure or not. I think I'll keep renting until these dumb money runs dry, thank you very much.

      The house i'm renting lost over 30k in one month on zillow and it needs to lose another 100k for the rent to break even.
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    • ON: Thu May 8th 12:03 PM
      Commented on:
      CAR Forecasts 24% Price Drop for California Houses
      CAR probably did this because the data they already have showing more than the 9% decline that they predicted. I bet this new estimate is already optimistic. Thier new sales pitch would be something like, "the house is already marked down 25% so it can't go down that much more. It's a great time to buy!"
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    • ON: Wed Apr 30th 01:16 AM
      Commented on:
      Fed Rate Decision To Shield Dollar From Horrid Housing Market
      Guys, show some respect. This is not 1956. Also, this is the internet, are you really, really sure you are flirting with who you believe you are? You're making a fool out of yourself.
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    • ON: Sun Apr 27th 10:54 AM
      Commented on:
      How Housing Finance Actually Works
      This article demonstrates the mentality that got us in this mess.
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    • ON: Sun Apr 27th 10:46 AM
      Commented on:
      The Market Domino Effect: Staying Ahead of the Curve
      .... too many spelling errors in this article.
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    • ON: Mon Apr 21st 10:43 AM
      Commented on:
      AIG, Fannie and Freddie Put the Crunch on Condo Mortgages
      Wow. As far as I can tell, that's pretty much all of Chicago's zipcodes. I guess everybody needs 20% down and income ratios under 3 now. No way the market can support it. Haha
      View article »
    • ON: Mon Apr 14th 13:28 PM
      Commented on:
      8 Stocks to Benefit from the Coming Uptrend in Housing
      Tom,

      Please try this and let us know how it goes in a couple of years.
      View article »
    • ON: Wed Apr 9th 20:43 PM
      Commented on:
      Signs That Foreclosures May Be Peaking
      sorry, "relisted after foreclosure" should have been "relisted after initial missed payment."
      View article »
    • ON: Wed Apr 9th 20:40 PM
      Commented on:
      Signs That Foreclosures May Be Peaking
      user 2lakes:
      The reason that banks will try to work them out (probably in vain) is that foreclosure process cost a lot more. The lawyer fee, cleanup, realtor/listing fee, property taxes for the duration. Typically it takes 9 months for a house to get re-listed after foreclosure. right now we have about 10 months of supply on the market. Add that together means 17months of no cash flow on top of all these costs.
      If it ends up a short sale, they might very well lose over half of the money they invested. It'd be better off to work it out and take a 20% loss instead.
      View article »
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