User 463833

San Francisco Housing Supply Is Not at a Two-Year Low

A house is "worth" what a buyer will pay the seller for it when it is on the market. This often times does not coincide with what the realtors tell the seller it is worth or what the realtor thinks the buyer should be willing to pay for the house.That is why houses at th "high end" are not selling. Who would pay the asking price for an overpriced house or one that will go down another 20% in the next year. Housing may never recover because there is no ready supply of a growing baby boomer generation to fill all these houses. Just where does everybody think buyers will come from? Certainly not from other countries with unemployment at 10.5% and growing. So why does everyone drive the market up or look for encouragement from a rise in building new homes. I'm just a regular person, but somehow, I can see that the housing market is not on the road to recovery.

Foreclosures: They're Not Just for Breakfast Anymore

How can we be sure that the FASB will begin requiring banks to report off-balance sheet assets/liabilities? This administration has been controlled and therefore has pandered to banks and investment firms in proportions never seen before. They have spoken out of both sides of their mouth and will, in all probability, continue to manipulate the situation.


On Sep 10 12:00 PM Joseph L. Shaefer wrote:

> There are two body blows coming for the banking industry. One is
> described in this article. People with no equity in their homes,
> thanks to banks giving no down payment loans, have no incentive to
> remain in those homes unless the bank is willing to work with them.
> Thus far just 12% of all qualified applicants in danger of foreclosure
> have been granted any renegotiated terms from the banks.
>
> If you can find worse leadership in any other industry, let me know.
>
>
> Second, FASB is likely to require all off-balance sheet assets/liabilities
> to be reported on balance sheet beginning in January 2010. Wells
> Fargo, as just one example, and possibly not the most egregious,
> has over $1.7 TRILLION in off balance sheet assets/liabilities. If
> those were included in their reporting they would need to raise over
> $70 BILLION in additional capital to meet reserve requirements.
>
>
> If you can find worse leadership in any other industry, let me know.