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Herman Munster (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 08:39 PM Original message |
Folks, this is REALLY REALLY BAD, Wall Street has finally figured out housing is going BUST |
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EFerrari (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 08:41 PM Response to Original message |
1. Translate for me please! Is this only for residential or for all real estate? |
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papau (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 08:57 PM Response to Reply #1 |
14. All real estate markets are local - some are still going up and will continue up - others |
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EFerrari (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 09:00 PM Response to Reply #14 |
18. Thanks! I almost understand that, lol. |
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ProgressiveEconomist (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 09:53 PM Response to Reply #14 |
36. Rising adjustable rate mortgage foreclosures arent limited to the subprime market |
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papau (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 10:46 PM Response to Reply #36 |
44. I agree - liar loans are also in trouble but both are included above - current rates below: |
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Warpy (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 08:58 PM Response to Reply #1 |
15. It's a speculator's nightmare |
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EFerrari (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 09:03 PM Response to Reply #15 |
19. So, is it right to conclude that financing will become harder to get? |
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Warpy (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 10:05 PM Response to Reply #19 |
38. Ordinary lenders won't be any tougher than they always were |
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EFerrari (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 10:11 PM Response to Reply #38 |
39. Thanks, Warpy. |
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Lochloosa (1000+ posts) Send PM | Profile | Ignore | Wed Jul-11-07 07:40 AM Response to Reply #19 |
57. sfexpat2000, I'm in the construction industry in FL |
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EFerrari (1000+ posts) Send PM | Profile | Ignore | Wed Jul-11-07 11:57 AM Response to Reply #57 |
66. Yikes. |
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Olney Blue (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 08:43 PM Response to Original message |
2. This is worrisome, indeed. |
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DURHAM D (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 08:46 PM Response to Original message |
3. I have one question - |
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markk (99 posts) Send PM | Profile | Ignore | Tue Jul-10-07 08:52 PM Response to Reply #3 |
10. shout it out.. corporate welfare |
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jpgray (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 10:34 PM Response to Reply #10 |
42. That he's so right on so many things makes his methods more frustrating |
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Rosemary2205 (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 09:12 PM Response to Reply #3 |
25. Yes |
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robinlynne (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 09:20 PM Response to Reply #3 |
29. now that is a good question! |
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A HERETIC I AM (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 11:22 PM Response to Reply #3 |
46. No. At least not as it relates to the linked article in the OP |
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Sarah Ibarruri (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 08:47 PM Response to Original message |
4. Every time someone tells me capitalism is great because markets magically keep everything in balance |
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LittleClarkie (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 08:48 PM Response to Original message |
5. Not only is housing going bust, but mortgage loans are defaulting |
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graywarrior (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 08:48 PM Response to Original message |
6. Does this mean the banks will be calling in their loans like they did in the late 80's? |
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Rosemary2205 (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 09:13 PM Response to Reply #6 |
26. Every 20 yrs - you can set your watch by it. |
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Swamp Rat (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 08:49 PM Response to Original message |
7. How will this affect the homeless? |
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proud patriot (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 08:53 PM Response to Reply #7 |
11. That's the first time I've seen that picture Swamp Rat |
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Swamp Rat (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 08:58 PM Response to Reply #11 |
16. I made it today |
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proud patriot (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 11:08 PM Response to Reply #16 |
45. I'm hanging in there |
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Jed Dilligan (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 09:04 PM Response to Reply #7 |
20. My immediate thought, too. |
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jtrockville (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 09:38 PM Response to Reply #20 |
33. I spoke to an economist last week and asked about this. |
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Jed Dilligan (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 09:48 PM Response to Reply #33 |
35. I'm not concerned here with the homeowners losing their homes, |
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jtrockville (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 10:32 PM Response to Reply #35 |
41. I guess it could have that effect. |
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InkAddict (1000+ posts) Send PM | Profile | Ignore | Wed Jul-11-07 12:41 AM Response to Reply #35 |
51. Well, there's plenty of homes and apartments available, |
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Jed Dilligan (1000+ posts) Send PM | Profile | Ignore | Wed Jul-11-07 12:48 AM Response to Reply #51 |
52. So what's your point? |
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InkAddict (1000+ posts) Send PM | Profile | Ignore | Wed Jul-11-07 12:53 AM Response to Reply #33 |
54. Too bad on that. |
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atommom (1000+ posts) Send PM | Profile | Ignore | Wed Jul-11-07 08:05 AM Response to Reply #7 |
60. The look on that woman's face is priceless. nt |
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liberal N proud (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 08:50 PM Response to Original message |
8. It is going to get much worse before it levels off |
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Jed Dilligan (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 08:50 PM Response to Original message |
9. Is there any way this could possibly mean |
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papau (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 08:59 PM Response to Reply #9 |
17. nope - housing being affordable again requires mid 6 fiqure income n/t |
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edhopper (1000+ posts) Send PM | Profile | Ignore | Wed Jul-11-07 08:19 AM Response to Reply #17 |
64. Or |
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papau (1000+ posts) Send PM | Profile | Ignore | Wed Jul-11-07 08:56 AM Response to Reply #64 |
65. historic increase follows wage increase except for homes of the rich n/t |
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edhopper (1000+ posts) Send PM | Profile | Ignore | Wed Jul-11-07 01:40 PM Response to Reply #65 |
67. And yet |
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papau (1000+ posts) Send PM | Profile | Ignore | Wed Jul-11-07 08:32 PM Response to Reply #67 |
68. The month;y payment determines the price that can be asked - and low interest |
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InkAddict (1000+ posts) Send PM | Profile | Ignore | Wed Jul-11-07 01:04 AM Response to Reply #9 |
55. Dollar eroding. |
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dysfunctional press (1000+ posts) Send PM | Profile | Ignore | Wed Jul-11-07 08:14 AM Response to Reply #9 |
63. not in socal. |
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rucky (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 08:57 PM Response to Original message |
12. People with low income/ high debt won't be able to get a mortgage. |
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Rosemary2205 (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 09:11 PM Response to Reply #12 |
24. Low income and high debt SHOULDN'T get a mortgage. |
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Matsubara (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 09:21 PM Response to Reply #24 |
30. I agree people with high debt should square it away before taking on a mortgage... |
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rucky (1000+ posts) Send PM | Profile | Ignore | Wed Jul-11-07 07:23 AM Response to Reply #24 |
56. They do give a booklet for FHA loans but not subprime. |
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Warren DeMontague (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 08:57 PM Response to Original message |
13. OH NOOOOOOOOO!!!!!!!!!!!!!!!! |
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tom_paine (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 09:13 PM Response to Reply #13 |
27. Ha hah ha. But the truth of the matter is things are trending downwardly |
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Warren DeMontague (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 09:59 PM Response to Reply #27 |
37. Oh, I'll be the first to admit that many things are massively fucked up. |
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xmas74 (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 10:44 PM Response to Reply #13 |
43. The Iran threads annoy me |
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Warren DeMontague (1000+ posts) Send PM | Profile | Ignore | Wed Jul-11-07 12:18 AM Response to Reply #43 |
48. Oh, there's no doubt about that. |
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xmas74 (1000+ posts) Send PM | Profile | Ignore | Wed Jul-11-07 08:03 AM Response to Reply #48 |
59. but I know what you mean. |
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tjwash (1000+ posts) Send PM | Profile | Ignore | Wed Jul-11-07 12:28 AM Response to Reply #43 |
50. It's the same crap we went through in the 80's with the S&L bailouts, and junk bonders. |
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xmas74 (1000+ posts) Send PM | Profile | Ignore | Wed Jul-11-07 08:05 AM Response to Reply #50 |
61. I remember the S&L crap in the 80's. |
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AntiFascist (1000+ posts) Send PM | Profile | Ignore | Wed Jul-11-07 12:49 AM Response to Reply #43 |
53. Speaking of Iran threads.... |
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xmas74 (1000+ posts) Send PM | Profile | Ignore | Wed Jul-11-07 08:06 AM Response to Reply #53 |
62. I stated in another post |
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tjwash (1000+ posts) Send PM | Profile | Ignore | Wed Jul-11-07 12:25 AM Response to Reply #13 |
49. ... |
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Ezlivin (1000+ posts) Send PM | Profile | Ignore | Wed Jul-11-07 07:55 AM Response to Reply #13 |
58. Well the proletariats are stirred up by what the accountants are saying |
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sendero (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 09:04 PM Response to Original message |
21. Recipe for disaster... |
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Dogmudgeon (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 09:07 PM Response to Original message |
22. Not just housing -- the Dollar is sinking, too |
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robinlynne (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 09:23 PM Response to Reply #22 |
32. same thing in relation to Brasil! not doubled, but worth much less. |
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sicksicksick_N_tired (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 09:10 PM Response to Original message |
23. They can always hit the slot machines. |
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dweller (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 09:16 PM Response to Original message |
28. "This will impact everyone along the food chain," |
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yodermon (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 09:23 PM Response to Original message |
31. ok, so which stocks should I short? n/t |
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CK_John (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 11:31 PM Response to Reply #31 |
47. Everything except oil related and rickshaw manufacturing. n/t |
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madrchsod (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 09:43 PM Response to Original message |
34. the only guys who are going to ride out the fall |
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TexasLawyer (1000+ posts) Send PM | Profile | Ignore | Tue Jul-10-07 10:28 PM Response to Original message |
40. "The dollar is a basket case," |
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