Headlines...

NEW -> Contingent Buyer Assistance Program
Trooper said:
Layoffs pick up speed - Is your company on the list ?

* need to add Warner Bros. to list - announced 10% workforce reduction today..... That's right down the hill from where I live, I could walk to it.

Extensive list here
Click to expand...
On top of all those layoffs, many companies are either freezing or cutting the pay for their workers...

http://finance.yahoo.com/tech-ticker/article/160621/Amid-Layoffs-Companies-Take-Rare-Step-Cutting-Pay?tickers=AMD,CAT,BAC,CC,HTCH,YRCW,^DJI
 
Housing correction nearing an end?

He has some observations that align with IR's predictions:

"...by the time home prices bottom out, they will have fallen a total of 30% from their 2006 highs. In those markets where housing really got overheated, prices are already down by as much as 50%!...today's home buyers will be required to have some skin in the game. In other words, they will have to put down 20% or more. They will be required to document their incomes and be sure that the home they wish to buy is appraised at a realistic price."

...but I'm not sure if I'm convinced of his thesis.

SCHB
 
socalhousingbubble said:
Housing correction nearing an end?

He has some observations that align with IR's predictions:

"...by the time home prices bottom out, they will have fallen a total of 30% from their 2006 highs. In those markets where housing really got overheated, prices are already down by as much as 50%!...today's home buyers will be required to have some skin in the game. In other words, they will have to put down 20% or more. They will be required to document their incomes and be sure that the home they wish to buy is appraised at a realistic price."

...but I'm not sure if I'm convinced of his thesis.

SCHB
Click to expand...

I could bring up the article but in some areas, like Stockton and Sacramento, the residential housing market may be close to bottoming. In other areas like NB or Irvine, it is not even close.
 
Dont worry, it'll be different now... Rep. Frank wants to just buy the mortgages directly.
 
freedomCM said:
coming soon to a neighborhood near you?

Lenders are demanding 50% deposits on newbuilds

http://www.guardian.co.uk/money/2009/feb/01/banks-mortgages
Click to expand...

In Colorado the new construction loan value of raw land is 40% or less of appraised value right now. If one is long-sighted and cash flush, the next few years could be righteous.
 
The Tan Man strikes again...seems like he had A LOT of friends back in the day!

HARTFORD, Conn. – Connecticut Sen. Chris Dodd says he'll refinance two mortgages that he received through a VIP program from Countrywide Financial Corp.

Dodd says he's moving the loans in part because he was wrongfully labeled a friend of Countrywide's former CEO, Angelo Mozilo. Dodd says he never sought special treatment. Linky
 
YAY!!!!

Another extension of the bubble!!!!

Senate Advances Tax Break for Home Buyers

$15K tax credit for buying a home.

Really?

Of course, it does NOTHING to ensure that people will keep their jobs so they can actually buy and keep that still overpriced home that they are using the credit on.

$15K isn't going to help me to buy a home in 2009 at $400 $/SF. Looks like I may be waiting until 2011.

I hope this doesn't pass.
 
HB_Renter said:
YAY!!!!

Another extension of the bubble!!!!

Senate Advances Tax Break for Home Buyers

$15K tax credit for buying a home.

Really?

Of course, it does NOTHING to ensure that people will keep their jobs so they can actually buy and keep that still overpriced home that they are using the credit on.

$15K isn't going to help me to buy a home in 2009 at $400 $/SF. Looks like I may be waiting until 2011.

I hope this doesn't pass.
Click to expand...
Just another piece of gum used to patch the leaking damn. Don't they know all they are doing is delaying the ultimate recovery???
 
You must log in or register to reply here.
Back
Top