Influx of foreclosures... err... new posters?

NEW -> Contingent Buyer Assistance Program
[quote author="no_vaseline" date=1242545978][quote author="biscuitninja" date=1242544076][quote author="no_vaseline" date=1242462466][quote author="freedomCM" date=1242459764]I vote someone break out the big gallon jug of whoop-ass</blockquote>


You have no idea. There have been at least two users over the last week that I should of chewed in half, and didn't. This sucks.</blockquote>




Would that be milk gallon jugs perhaps?</blockquote>


No, it was that ESL moron who was intested in the Santa Ana Citiplace development (at full list) but was pissed they would only let him use Wells Fargo (because there's NO WAY it gets financed based on the comps) and the guy who spammed up the forum with ten random basic questions that have been answered at least ten times each.</blockquote>


I remember, but i guess its just me. I have to explain to the higher ups, in painful detail, many difficult engineering issues we have. I do this everyday, so i guess i've built up my tolerance.



But still, i get tired of alot of people say..." its a buyers market now!"...LOL... that's what you guys said at the peak... and i'm still here... waiting.

Who do you think made the smart choice?



-bix
 
You guys should love n00bs... more food for the hungry bears.



But change is expected... you can't predict what is already happening... so what is there to talk about? Seems like no one wants to really talk about when the bottom will hit as much as they liked to talk about when the bubble would pop. I personally think the $375/sft benchmark in Irvine is a hot topic but it doesn't seem to get any traction.



And honestly... snark is good... but only when we know the snarkee can snark back... it's no fun beating up on a paper bag... not every n00b will fight back (hmm... reminds me of someone not too long ago).
 
[quote author="irvine_home_owner" date=1242688519]You guys should love n00bs... more food for the hungry bears.



But change is expected... you can't predict what is already happening... so what is there to talk about? Seems like no one wants to really talk about when the bottom will hit as much as they liked to talk about when the bubble would pop. I personally think the $375/sft benchmark in Irvine is a hot topic but it doesn't seem to get any traction.



And honestly... snark is good... but only when we know the snarkee can snark back... it's no fun beating up on a paper bag... not every n00b will fight back (hmm... reminds me of someone not too long ago).</blockquote>
I heart teh noobs! Remember IHO, we were all once noobs on here. Some of us made it through the initiation and some us of didn't.
 
[quote author="irvine_home_owner" date=1242688519]You guys should love n00bs... more food for the hungry bears.



But change is expected... you can't predict what is already happening... so what is there to talk about? Seems like no one wants to really talk about when the bottom will hit as much as they liked to talk about when the bubble would pop. I personally think the $375/sft benchmark in Irvine is a hot topic but it doesn't seem to get any traction.



And honestly... snark is good... but only when we know the snarkee can snark back... it's no fun beating up on a paper bag... not every n00b will fight back (hmm... reminds me of someone not too long ago).</blockquote>


I use to think the bottom would be 2012. Now, that seems incredibly optimisticm when I see the timeline for the option arm reset and recasts.
 
[quote author="awgee" date=1242698762]

I use to think the bottom would be 2012. Now, that seems incredibly optimisticm when I see the timeline for the option arm reset and recasts.</blockquote>


Perhaps the better question isn't when we reach bottom, but when do we significantly start to depart from bottom? I'm thinking 2015 for depart and bottom reached in 2011 +/-10%.



The only reason I say 2011 is by then, we'll know if the market can continue to be manipulated through interest rate or if the ghost is given up on interest, taxes and the defense of the home ownership. If they do, I expect a strong and quick capitulation as rates free float and today's $400K place just free floats on payments.



Basically, we're close to bottom now in many communities based on the distorted interest rates.



The wild card is California's economy and tax structure.
 
[quote author="No_Such_Reality" date=1242725823]



The wild card is California's economy and tax structure.</blockquote>


That's not the wild card you are seeing.



<img src="http://www.kevinwolf.com/images/death1.jpg" alt="" />
 
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