mlimberg

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    • Sun Aug 3rd 15:53 PM | Rating: 0 0
      Commented on:
      Housing Crisis Likely to Wipe Out Two Decades of Family-Earned Wealth
      When will people get it? Until the value of "0" changes, which it won't, home prices can only go so high, and they went way beyond what people could ever hope to afford, thye had to reset. Currently we are in the process of resetting. The real value of a home is thousands of dollars less than everyone paid for the past 15 years.

      Face it, lose a job in a two income family, it is highly likely you will lose your home, since you likely bought it based on two incomes. Unemployment pays next to nothing. No income is "0" income. Can't amke huge unreasonable house payments on that amount. So, moral of the story, until the value of "0" increases, it is possible that some day you too could find yourself understanding the value of "0" first hand.
      View article »
    • Fri Jul 18th 21:07 PM | Rating: 0 0
      Commented on:
      Are Short Sales Shorting the Real Estate Market?
      I agree with westwest888, much higher interest is the best solution to get out of this mess. Waiting for the non-fixed loans to reset will drag this issue out for the next 6 years... or the max length of the non-fixed loans. 8 or 9% will bring the price of a home to reasonable levels.

      It's like buying a car, they want to sell you the car based on the payment... The only figure I want to know is the cost of the home... Any mention of payment is based on this cost first and the interest can be changed as time goes on and according to market conditions.

      View article »
    • Mon Jun 16th 09:10 AM | Rating: 0 0
      Commented on:
      Home Prices: Location, Location, Location [Housing Tracker]
      Nice try Realtors.... I hear the Fat Lady Singing......
      View article »
    • Sun Jun 1st 18:08 PM | Rating: 0 0
      Commented on:
      Oil Bubble Spin
      Barnburner...

      ""As he pointed out, the common wisdom of five years ago was "there are more and more people that need housing and a limited amount of land-there's not place for housing prices to go but up" and, like oil, it was a commodity that people "needed". ""

      Farmers said the same thing in the 1970's, farmland, they don't make anymore... but you got to pay the bill for it someday.

      Americans today are "Ilfunctional literates":

      Individuals who are educated, yet fail to apply basic mathematics, reading and logic to simple everyday contracts.

      I saw the housing thing coming because it looked just like the farming mess of the 70's... It will take years for this to correct. In the mean time, banks will fail just like the S&L's did....
      View article »
    • Sun Jun 1st 13:34 PM | Rating: 0 0
      Commented on:
      Oil Bubble Spin
      This information would be true and correct if this was 1970 and China was not buying cars like American kids want iPods? Asians are buying cars like crazy... Where they use to ride the bus to work, they now drive a car. Factories have fewer and fewer bused employees and more and more cars in their parking lots. I see it everytime I go there... not only are they building factories, there are building huge parking lots and expanding parking lots too... So if every one of the cars that are parked there are half full of gas, the increase in demand is apparent. The USA does not determine the price of oil anymore. Asia does. We will see $200/barrel before we see sub $100/barrel oil. Sorry America, no bubble in oil... Gas will be $10/gallon in a few years...
      View article »
    • Fri May 23rd 18:43 PM | Rating: 0 0
      Commented on:
      US Housing Inventories Reach Record Highs
      Anyone who insists that "Now is the time to buy a House" is both an idiot and a real estate agent.....
      View article »
    • Wed May 21st 16:10 PM | Rating: 0 0
      Commented on:
      Bank of America: Better Than Treasuries
      CrossProfit, Dude, what the hell are you smoking?

      We're going to wake up one Monday morning soon and see the same news about B of A as we saw about Bear Strearns...

      Are you in over your head and hope that others will buy this dog?
      View article »
    • Thu Apr 24th 21:30 PM | Rating: 0 0
      Commented on:
      Will the Next Banking Crisis Originate in Europe?
      And now, something real important....

      NEW YORK (CNNMoney.com) -- Among the nightmares lurking around the corner for the already battered housing and credit markets would be a meltdown at mortgage financing giants Fannie Mae and Freddie Mac.
      Although few are predicting an imminent need for a bailout just yet, credit rating agency Standard & Poor's recently placed an estimated price tag on this worst case scenario -- $420 billion to $1.1 trillion of taxpayer's money.
      This dwarfs how much it cost to help banks during the savings and loan crisis of the late 1980's and early 1990's. That cost taxpayers about $250 billion in today's dollars.

      Has anyone added all the lost money and compaired that to the perceived worth of the world? What % of the beleive wealth of the world is the loss we have seen and the loss not yet reported? At some point we may have spent all our wealth?

      Time to go back to the gold standard....
      View article »
    • Mon Jan 28th 13:17 PM | Rating: 0 0
      Commented on:
      Dear Ben...
      If individuals would take personal responsibility for their action and how they manage or not manage their money, Ben would have a "cake" time at this job. But since the "we want it all and we want it now" crowd took over as the philosophers of the moment, we have a mess.
      View article »
    • Thu Jan 10th 19:27 PM | Rating: 0 0
      Commented on:
      Fine in 2009 (Not So Great in 2008)
      Really? Fine in 2009? And I'll bet you think Bank of America buying Countrywide is a good idea too?

      With Government intervention, this downward spiral should be resolved in 12 years. It's an election year, and yes our mental midgets wanting to be a President will promise everything. Keep in mind that one person caqn not make a difference without the support of the House of Reps and Senate. It's a system of Checks and Balances, and Our system of Government does not allow for a Dictatorship, where a single person can "fix" anything.
      View article »
    • Mon Nov 12th 19:26 PM | Rating: 0 0
      Commented on:
      Housing Bubble and Real Estate Market Tracker
      At the peak of the market in 1991, property in Japan was worth four times the value of all property in the US – on paper anyway.
      Buoyed by low interest rates, financiers introduced the concept of intergenerational loans, and eased credit standards as a way of helping people attain the booming prices.
      Every day investors were caught up in the mania. Many salarymen, fearing they'd be priced out of the market as it continued higher, bought properties they knew they couldn't afford, in the hope that price increases would wipe away their folly.
      Between 1989 and 1990 the Bank of Japan became worried that the property boom was becoming a bubble and took preventative steps, tightening interest rates. The bubble popped.
      The resulting bust saw housing prices fall for 14 years in a row, and prices retreated as far as 60 per cent in Japan's capital cities.
      The stockmarket crashed 80 per cent, consumers slowed their spending and the economy plunged into a prolonged recession.
      Daisuke Sato was one bloke I met who was caught in the crash. He bought an apartment in 1990 for (roughly) $500,000, and 17 years later the pad is worth only $280,000.
      Sato has a constant reminder of the mania – a massive mortgage that needs to be paid back regardless of the price of his home.
      View article »
    • Mon Nov 12th 19:18 PM | Rating: 0 0
      Commented on:
      Caveat Emptor: The Tumbling Housing Market
      At the peak of the market in 1991, property in Japan was worth four times the value of all property in the US – on paper anyway.
      Buoyed by low interest rates, financiers introduced the concept of intergenerational loans, and eased credit standards as a way of helping people attain the booming prices.
      Every day investors were caught up in the mania. Many salarymen, fearing they'd be priced out of the market as it continued higher, bought properties they knew they couldn't afford, in the hope that price increases would wipe away their folly.
      Between 1989 and 1990 the Bank of Japan became worried that the property boom was becoming a bubble and took preventative steps, tightening interest rates. The bubble popped.
      The resulting bust saw housing prices fall for 14 years in a row, and prices retreated as far as 60 per cent in Japan's capital cities.
      The stockmarket crashed 80 per cent, consumers slowed their spending and the economy plunged into a prolonged recession.
      Daisuke Sato was one bloke I met who was caught in the crash. He bought an apartment in 1990 for (roughly) $500,000, and 17 years later the pad is worth only $280,000.
      Sato has a constant reminder of the mania – a massive mortgage that needs to be paid back regardless of the price of his home.
      View article »
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