DUG
 
Member #13
Interests - Not Rolling
Posts: 3,976
|
Post by DUG on Jan 22, 2009 15:08:51 GMT -5
subprime mortgages are failing @ insane rates and there are 3-4 similar stupid mortgages that are going to hit in the next 5 years. It will be bad. Even with low borrowing rates... too much property on the market for prices to go up.  you Barney Frank.  |
|
|
|
Post by Quartney on Jan 22, 2009 15:15:50 GMT -5
i love this thread. the topics include: what is in your wallet, housing values and fat people  and please go to the cage...even if it is a debate just on housing stuff...the cage really needs some action...lol |
|
Rico
Member #31
Posts: 3,926
|
Post by Rico on Jan 22, 2009 15:21:25 GMT -5
i love this thread. the topics include: what is in your wallet, housing values and fat people and please go to the cage...even if it is a debate just on housing stuff...the cage really needs some action...lol Done |
|
Chaos
Official [SiS] Weather Guy
Posts: 784
|
Post by Chaos on Jan 22, 2009 15:21:58 GMT -5
Oh snape
|
|
|
|
Post by littlelegs13 on Jan 22, 2009 15:23:37 GMT -5
good, it does need action
|
|
|
|
Post by rckrdyxj on Jan 22, 2009 17:51:50 GMT -5
Wow i never expected this thread to get this big. i have kyles credit card in mine prob explains his first postt Wow so thats what happened. That explains why you never have any money. Cause there was none to take. |
|
|
|
Post by littlelegs13 on Jan 22, 2009 17:53:39 GMT -5
Wow i never expected this thread to get this big. i have kyles credit card in mine prob explains his first postt Wow so thats what happened. That explains why you never have any money. Cause there was none to take. haha will you thought you were sneaky |
|
|
|
Post by Dr. Thunder on Jan 22, 2009 18:02:57 GMT -5
You think values will go down??? My house was appraised last year at 259,000 in August when I bought it.... It was just re-appraised for a refinance at $271,000. And yes you need 20% unless you want to pay mortgage insurance which is a crock of shit. We put down 20% because my wife and I had a little saved, but she also had a small inheritance from her grandparents. So she bought her car and our house... I don't think... I know values will continue to go down. There is 0 information leading me to believe otherwise. People are losing jobs and houses are being forclosed on. Why da fuk would prices go up? Best time to buy would be the first month there is an increase... early 2010 maybe? Even then... I think it will be fairly flat for a while. www.msnbc.msn.com/id/28367333/www.msnbc.msn.com/id/28365973/www.msnbc.msn.com/id/28663624/At least someone agrees with me. Kinda common sense, economy in the trash = people have no money = stuff gets cheaper  |
|
|
|
Post by Krazors001 on Jan 22, 2009 20:08:13 GMT -5
Housing does keep going down and appraisals for refinancing mean shit as to real market value. My father's home was appraised at over $1.2M when he refinanced about 5 years ago when the realtor's suggested it would list would be more like $950,000 and that was with leaving room for negotiations down. Now the house is probably only worth $700,000 and we live in a pretty prominent area.
|
|
Rico
Member #31
Posts: 3,926
|
Post by Rico on Jan 23, 2009 7:54:34 GMT -5
Housing does keep going down and appraisals for refinancing mean shit as to real market value. My father's home was appraised at over $1.2M when he refinanced about 5 years ago when the realtor's suggested it would list would be more like $950,000 and that was with leaving room for negotiations down. Now the house is probably only worth $700,000 and we live in a pretty prominent area. my home appraisal was done based on houses that JUST sold around my area... so it is actual value... I didnt refinance to get cash out just to lower the payment because i had a stupid 6.75 rate b4 I am not saying prices arent down or going to go down... I am just saying that in many markets the prices were extremely inflated to begin with so their " real " values will show very soon. I was listening to the radio AM1080 last night in my pop's truck and he said the same exact thing..... People bough houses for like double the "real" value and now those houses are all foreclosed and being bought at their real world values. |
|
