Real Estate Crash thread

[Benny Profane]

Well, I'm not allowed to delete this post, but, I can say, go fuck yourselves, everybody!

[ak_powder_monkey]

sweet soon I'll be able to buy some land and start my way to baronhood

[Squatch]

sweet soon I'll be able to buy some land and start my way to baronhood

bwah!

although i think you need serfs.

[skiing-in-jackson]

But Alan Greenspan is not the MAN any more:

http://en.wikipedia.org/wiki/Chairman_of_the_Federal_Reserve

13. Alan Greenspan² (August 11, 1987 – January 31, 2006)
14. Ben Bernanke (February 1, 2006 – )

So I take it he made these remarks as a private citizen? Currently Ben Bernanke is the most powerful man in the world. I agree that Greenspan could still make markets tumble if he wanted to, but ... he ain't in charge anymore.

[Theodore]

What an awesome time to start a new line of work as a mortgage broker!

[Hutch]

I was hoping that Delta would fold so all the pilots and flight attendants would have to put their Park City condos and houses in old town on the market at the same time. I was willing to forfeit all my Delta FF miles for this. Unfortunately, it didn't happen last time it looked close, but hope springs eternal.

[steve]

But Alan Greenspan is not the MAN any more:

http://en.wikipedia.org/wiki/Chairman_of_the_Federal_Reserve

13. Alan Greenspan² (August 11, 1987 – January 31, 2006)
14. Ben Bernanke (February 1, 2006 – )

So I take it he made these remarks as a private citizen? Currently Ben Bernanke is the most powerful man in the world. I agree that Greenspan could still make markets tumble if he wanted to, but ... he ain't in charge anymore.

Well, TFA did say "post-retirment speech."
One thing I will tell you - even now, he's got a lot more insight than any of us do, that's for sure. He's probably got more insight than Bernanke..

[iceman]

Benny's got the schadenfreude machine working again I see.

So I'm guessing the ex got the house, Benny?

[Benny Profane]

bingo. but she can't touch the 401k.

[RootSkier]

What an awesome time to start a new line of work as a mortgage broker!

Really, though, it might be. Hammer on the people with ARMs. They better refi and quick.

[ride550]

good info

great blog on current real estate conditions

http://thehousingbubbleblog.com/

[Benny Profane]

Really, though, it might be. Hammer on the people with ARMs. They better refi and quick.

"The next big thing to worry about: foreclosures. It doesn’t seem like a source of anxiety yet, but the numbers are climbing. Keep the scale in perspective as you look at some of these articles from across the country. We are coming off a low base.

Sacramento: “We’re not seeing a lot of people at that foreclosure stage yet, but we’re sure seeing a lot of people who are headed that way,” said Jeff Tarbell, president of Sacramento-based ATM Mortgage.

Las Vegas: “Assistant Clark County Recorder Charles Harvey calls the spike in foreclosures significant. He said, ‘As the interest rate increased, we have seen an increase in the number of foreclosures.’” (Tip courtesy of Ben Jones at the Foreclosure Report blog. )

The economists I’ve talked to say that the bulk of adjustable-rate mortgages don’t start to trigger until next year. That’s when the nail-biting begins."

[Tippster]

bingo. but she can't touch the 401k.

OK, that's some funny shit.

[Theodore]

Really, though, it might be. Hammer on the people with ARMs. They better refi and quick.

The company I work for has been around since before the boom, but the # of employees peaked around '04. Lots of refi's then and the buying boom. All those 3 year ARM's are going up and now there are 4 of us. My soon to be project is to go through all the files and try to get all those people into something better for them.

[Cono Este]

vegas bad, very bad