My ARM was based on the one-year T-Bill. Those ARMs have been dropping...
...for about 4 years now.
Posted on 05/10/2010 3:58:51 PM PDT by grand wazoo
I know that a lot of conservatives want to believe this, but it is simply not true.
Most banks were willing participants. Mortgage companies like Countrywide lobbied for these programs.
Indeed! Careful...remember...if you don’t follow the party line you will be castigated.
This is not a left/right issue. Before enough people realize what’s going on it will be too late.
http://www.livinglies.wordpress.com
When? Depends upon where you are, just as the housing “bubble” depended upon where you are. There are metros where prices have not fallen, and still a very few where prices are increasing, albeit at a much slower rate. But then there are metros where houses are off in excess of 70% of their peak.
Employment levels, average income levels and overall cost of living play a big part, too.
So, the answer is, it’ll start improving when the employment situation improves, and it’ll improve first where there was little or no bubble to burst, provided the employment picture brightens. Texas, some areas of the southeast Atlantic and the ag commodity economies of the midwest will recover quickest. Some state capital cities and the closer in DC areas haven’t really suffered and may manage to avoid it, but the drop in tax receipts is being felt now. State capitals may not remain the haven that they’ve been since ‘08.
Florida, California, Nevada, Arizona and some of the northeastern cities that had a runup despite an oversupply of existing construction and declining population, with high unemployment and a big drop in prices will recover much more slowly.
Second home markets took a big beating almost across the board, and they will recover last.
Five to ten years to stabilize overall would be my guess based upon the above. Appreciation will be tepid for several more years afterward, until people start to forget the hell we’re going through and begin to lose caution once more.
Below is a link that describes the situation rather concisely.
Unfortunately, it takes a WHOLE TEN MINUTES to view.
http://www.youtube.com/watch?v=nZ6lPaiKmwg
Great observation. The price of violating Natural Law is high. 4%? Not worth the time or effort.
Of course, spending OPM is a politicians forte.
LOL. What will you do in the face of real evil?
(And you may not believe this, little fella, but it will cure your asthma too.)
but I have the crystal ball!
Who you jiving with that Cozmik Debris... I miss FZ.
You think the fed is funny? You’re not very bright.
Dont forget that the local governments and states loved the housing mania as well since they were able to jack up taxes, s[ending, etc.
Owning a home isn’t a right but Clinton signed the law that forced the banks to loan to minority or redlined areas with low down payments.
Everyone that bought a home with little down are nothing more than squatters as far as i’m concerned and none of them should be allowed to own.
Make enough and save enough to afford a home or rent!
“Owning a home isn’t a right but Clinton signed the law that forced the banks to loan to minority or redlined areas with low down payments.”
That’s a red herring. Nothing more - nothing less.
http://www.youtube.com/watch?v=nZ6lPaiKmwg
Like I said...TEN MINUTES...is too much to ask.
Not funny, just not evil. I thought you were bright?
That’s personal blog crap!!
Without government intervention 80% of the people that boughtr homes in the last 25 years would have been denied a loan and they should have!!!!
I’m hoping that 80% are out in the street in the next 10 years!
My ARM was based on the one-year T-Bill. Those ARMs have been dropping...
...for about 4 years now.
That’s a pretty sad statement. I can not muster any ill-will towards you but at the same time, I can’t help but pity you.
Do your sentiments typify conservatism? Gosh, I hope not.
You wonder why republicans have lost and will lose many more elections....
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