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Pent up demand's Comments Stream Stats
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- Total Comment Stream rating - = 7
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The Impending Mortgage Crisis: Part Two
This statement is absolutely ludicrous. I'm curious what area you refer to jcrash? Where I'm sitting (NYC), price-to-rent is still out of whack by perhaps 50%.
The Impending Mortgage Crisis: Part Two
Why do you keep rehashing your silly argument about "payment" vs. price? It makes no sense whatsoever to talk about payments (I assume computed against a traditional 80% fixed mortgage) when prices got so insane that very few first time buyers could come up with the down payment to afford the mortgage corresponding to the payment in your (dare I care it a) model?
That's the primary reason for the severity of this correction. Lenders again require serious skin in the game from borrowers, and few have the money to put 20% down on a $500,000 house if they didn't get it from their rich pappy.
12 Observations on Residential Housing
Yeah I made $200k last year. But I live near NYC where I pay more for rent than most home"owners" pay for their houses and where taxation has reached its pinnacle as art form. But the federal government considers me "rich" so I get none of the rebates for my 3 kids, etc. etc.
Makes me want to move back out to the sticks and get a nice easy job with some county government and start sucking on the government teat myself.
The Worst Is Over ... Again ... And Again ...
12 Observations on Residential Housing
The Housing Bubble Goes Pop
A true investment creates wealth. The traditional "building equity" argument essentially treats the home not as a creator of wealth but as a store of wealth. Well then it's a poor one, as its value is taxed every year, it requires a substantial amount of money for maintenance every year, etc.
People make money on the sale of homes to the extent that they intentionally or unwittingly speculate on location and win.
The Housing Bubble Goes Pop
At the end of the day, prudent people can only afford to spend a certain fraction of their income to buy housing. House prices must be tied to incomes. Repeat after me: my house is an expense, not an investment.
Are US Inflationary Concerns Inflated?
The government has motive, means, and opportunity to fudge the numbers at every turn. You be the judge.
Are US Inflationary Concerns Inflated?
How Housing Finance Actually Works
The loans that have paid off are the people who made it to the exit in time. It will be interesting to see what becomes of the members of the "class of 2006" who didn't/couldn't refinance.
Jingle Mail: How Do You Value Home Equity?
The value of a way OTM call vs. the present value of 15-20 years of carrying costs? No contest.
Financial Ravings Go Mainstream
Why do you have the idea that all trends develop so rapidly that CNN is incapable of reporting them?
One could just as easily argue that if CNN is giving air time to a "bust at FNMA" it is all but inevitable and they are just softening up the public for the eventual bailout.
Mortgage Resets: Subprime May Be Ending, Option ARMs Have Just Begun
Housing Market Tracker - Even Mortgage Brokers Want to Stop Foreclosures
No Breaking News Here: Katie Couric Likely to Leave CBS