BOOM: HOUSING STARTS DESTROY EXPECTATIONS AT 894K (Analysts expected 840K annualized down from 872K) | |
Anonymous Coward User ID: 21211135 United States 11/20/2012 12:02 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 13864401 United States 11/20/2012 12:04 PM Report Abusive Post Report Copyright Violation | Re: BOOM: HOUSING STARTS DESTROY EXPECTATIONS AT 894K (Analysts expected 840K annualized down from 872K) with the coming martial law the value of your suburban property will fall to zero. Quoting: Anonymous Coward 23011194 ''oh honey this one looks nice'' yeah but we've got to go through 2 checkpoints and a riot to get there. ''oh, lets forget about that one'' "oh look Honey can we please live in the city, that seems safer, LOL" |
Anonymous Coward User ID: 13864401 United States 11/20/2012 12:10 PM Report Abusive Post Report Copyright Violation | Re: BOOM: HOUSING STARTS DESTROY EXPECTATIONS AT 894K (Analysts expected 840K annualized down from 872K) ... Quoting: Anonymous Coward 28135496 I am closing on a house now. Listed for $144,900 in July, I got it for $105,000 and apparently they were still showing it or my realtor is a liar (which is more likely) but she said it has 3 back up offers. It was on the market for 3 months when I put the offer. So now its been 6 months but the market is starting to rebound. If you are thinking of buying, now is the time. 3.9% tax after Jan 1 2013 I hope you get that closed... I have heard of a few deals here where the sellers actually backed out (payed a small penaly) then secured the higher offer... I closed on my house after only a month on the market. 8K less than asking price though but I set it rather high to gauge what kind of demand. Got enough cash out of it to pay for down payment on a nice house which is a big upgrade. Also noticed that, I got a nice deal at the right time before others started wanting to build houses on my street which drove prices up. Just lucky... Sometimes its better to be lucky! :) Mine is a Freddie mac, so it will be a big relief when we actually close. FYI your loan today more than likely will be bought right away from the FED... At closings today, we have to wait for the FED to wire transfer the money... QE3 |
Anonymous Coward User ID: 13864401 United States 11/20/2012 12:11 PM Report Abusive Post Report Copyright Violation | Re: BOOM: HOUSING STARTS DESTROY EXPECTATIONS AT 894K (Analysts expected 840K annualized down from 872K) ... Quoting: Anonymous Coward 21211135 In that case, renters should be okay since incomes will also go up. like anything else, your rent will go up 50% during that same time your pay will go up 20%. The only thing that changes on a mortgage would be insurance stuff. So your payments don't change real drastically. How about if you have a condo or co-op? Do you think they'll really shaft the with the fees and maintenance? If they aren't fixed fees, yes. That's one thing that's very important now. If you can negotiate a flat fee that's locked. Otherwise they will make sure they make more money than they should. I've never been a big fan of condos because its like an apt but you pay the fees and maintenance. The other scary thing with condo's and Townhomes, what happens if 50% or more foreclose? They need to make up that money from somewhere.. |
Anonymous Coward User ID: 28135496 United States 11/20/2012 12:18 PM Report Abusive Post Report Copyright Violation | Re: BOOM: HOUSING STARTS DESTROY EXPECTATIONS AT 894K (Analysts expected 840K annualized down from 872K) ... Quoting: Anonymous Coward 13864401 I hope you get that closed... I have heard of a few deals here where the sellers actually backed out (payed a small penaly) then secured the higher offer... I closed on my house after only a month on the market. 8K less than asking price though but I set it rather high to gauge what kind of demand. Got enough cash out of it to pay for down payment on a nice house which is a big upgrade. Also noticed that, I got a nice deal at the right time before others started wanting to build houses on my street which drove prices up. Just lucky... Sometimes its better to be lucky! :) Mine is a Freddie mac, so it will be a big relief when we actually close. FYI your loan today more than likely will be bought right away from the FED... At closings today, we have to wait for the FED to wire transfer the money... QE3 Yes, Freddie is who currently owns it. But we didn't go through them for the loan. It would actually be nice if Freddie and fannie paid the tax payers loan back! GM did, you would think they would too. |
Anonymous Coward User ID: 28135496 United States 11/20/2012 12:23 PM Report Abusive Post Report Copyright Violation | Re: BOOM: HOUSING STARTS DESTROY EXPECTATIONS AT 894K (Analysts expected 840K annualized down from 872K) With inflation/hyperinflation coming, only an idiot would rent and be forced to pay more and more every year! well, you got a point there but seeing how 59% of all new jobs pay between $8-11.75 an hour there's no way I'd sign a mortgage. Just like the PM market, the Fed tries to force out weak hands (foreclosures) before they let the market shoot back up... Its all planned... Exactly! I'm long silver (physical) and figured now was either the bottom or near bottom of the housing market. Like anything else though you can't catch a falling knife. But I'm comfortable with this position. If I get the chance, I'll buy a little more silver. I think everybody should have 100+ oz so I'd love to have 2-3 times that. But the new house cut me a little cash (fiat) short. |
Anonymous Coward User ID: 13864401 United States 11/20/2012 12:23 PM Report Abusive Post Report Copyright Violation | Re: BOOM: HOUSING STARTS DESTROY EXPECTATIONS AT 894K (Analysts expected 840K annualized down from 872K) ... Quoting: AlcoholicRunner I closed on my house after only a month on the market. 8K less than asking price though but I set it rather high to gauge what kind of demand. Got enough cash out of it to pay for down payment on a nice house which is a big upgrade. Also noticed that, I got a nice deal at the right time before others started wanting to build houses on my street which drove prices up. Just lucky... Sometimes its better to be lucky! :) Mine is a Freddie mac, so it will be a big relief when we actually close. FYI your loan today more than likely will be bought right away from the FED... At closings today, we have to wait for the FED to wire transfer the money... QE3 Yes, Freddie is who currently owns it. But we didn't go through them for the loan. It would actually be nice if Freddie and fannie paid the tax payers loan back! GM did, you would think they would too. Keep in mind, the FED is different than Fannie and Freddie |
Anonymous Coward User ID: 13864401 United States 11/20/2012 12:25 PM Report Abusive Post Report Copyright Violation | Re: BOOM: HOUSING STARTS DESTROY EXPECTATIONS AT 894K (Analysts expected 840K annualized down from 872K) ... Quoting: Anonymous Coward 13864401 With inflation/hyperinflation coming, only an idiot would rent and be forced to pay more and more every year! well, you got a point there but seeing how 59% of all new jobs pay between $8-11.75 an hour there's no way I'd sign a mortgage. Just like the PM market, the Fed tries to force out weak hands (foreclosures) before they let the market shoot back up... Its all planned... Exactly! I'm long silver (physical) and figured now was either the bottom or near bottom of the housing market. Like anything else though you can't catch a falling knife. But I'm comfortable with this position. If I get the chance, I'll buy a little more silver. I think everybody should have 100+ oz so I'd love to have 2-3 times that. But the new house cut me a little cash (fiat) short. Keep the gold and silver...Dont sell that... You will be able to pay your property taxes with it (i.e. convert it back to worthless fiat).. |
Anonymous Coward User ID: 28135496 United States 11/20/2012 12:33 PM Report Abusive Post Report Copyright Violation | Re: BOOM: HOUSING STARTS DESTROY EXPECTATIONS AT 894K (Analysts expected 840K annualized down from 872K) ... Quoting: Anonymous Coward 23011194 well, you got a point there but seeing how 59% of all new jobs pay between $8-11.75 an hour there's no way I'd sign a mortgage. Just like the PM market, the Fed tries to force out weak hands (foreclosures) before they let the market shoot back up... Its all planned... Exactly! I'm long silver (physical) and figured now was either the bottom or near bottom of the housing market. Like anything else though you can't catch a falling knife. But I'm comfortable with this position. If I get the chance, I'll buy a little more silver. I think everybody should have 100+ oz so I'd love to have 2-3 times that. But the new house cut me a little cash (fiat) short. Keep the gold and silver...Dont sell that... You will be able to pay your property taxes with it (i.e. convert it back to worthless fiat).. That's the game plan. I started with the 100 oz goal in mind. Figuring if hyper inflation hit, it would at least cover property tax for a few years. A lot of people try to convince me I am paranoid and playing it wrong. But really, silver is just a hedge. GLP is one extreme or the other on every topic it seems :) But just to hedge, I think silver is king. |
Anonymous Coward User ID: 28135496 United States 11/20/2012 12:35 PM Report Abusive Post Report Copyright Violation | Re: BOOM: HOUSING STARTS DESTROY EXPECTATIONS AT 894K (Analysts expected 840K annualized down from 872K) ... Quoting: Anonymous Coward 28135496 Sometimes its better to be lucky! :) Mine is a Freddie mac, so it will be a big relief when we actually close. FYI your loan today more than likely will be bought right away from the FED... At closings today, we have to wait for the FED to wire transfer the money... QE3 Yes, Freddie is who currently owns it. But we didn't go through them for the loan. It would actually be nice if Freddie and fannie paid the tax payers loan back! GM did, you would think they would too. Keep in mind, the FED is different than Fannie and Freddie Kinda |
Mickeyblue User ID: 9806228 United States 11/20/2012 01:06 PM Report Abusive Post Report Copyright Violation | |
Hardwired User ID: 27975700 United States 11/20/2012 01:09 PM Report Abusive Post Report Copyright Violation | Re: BOOM: HOUSING STARTS DESTROY EXPECTATIONS AT 894K (Analysts expected 840K annualized down from 872K) Figures I saw today were single-family were down a bit and apartments were up. This was just a ticker on a news channel, though. Seems to be the case where I live. Lots of apartments in the last few years. They are all four-story buildings now as my city is running out of room. There are even plans for another tower downtown (apartments instead of condos this time). |
Anonymous Coward User ID: 28135496 United States 11/20/2012 01:21 PM Report Abusive Post Report Copyright Violation | Re: BOOM: HOUSING STARTS DESTROY EXPECTATIONS AT 894K (Analysts expected 840K annualized down from 872K) Figures I saw today were single-family were down a bit and apartments were up. This was just a ticker on a news channel, though. Quoting: Hardwired Seems to be the case where I live. Lots of apartments in the last few years. They are all four-story buildings now as my city is running out of room. There are even plans for another tower downtown (apartments instead of condos this time). Gotta love that. Then people wonder why a small fight turns into shootings and more shootings! When you have a neighbor on both sides and above and below, it just creates so much stress! Not to mention gangs selling drugs out of neighbors buildings. |
Anonymous Coward User ID: 17756349 Puerto Rico 11/20/2012 01:34 PM Report Abusive Post Report Copyright Violation | Re: BOOM: HOUSING STARTS DESTROY EXPECTATIONS AT 894K (Analysts expected 840K annualized down from 872K) There has only been 7 Presidents that have won both terms with over 50% of the vote both times. Obama achieved this...during 7.9% unemployment! The economy is coming back now under Obama. Obama is getting us out of TWO WARS at the same time as everything else on his plate. He'll gone down as one of the greatest achieving Presidents in our history, don't forget ObamaCare either. It'll be like Social Security and Medicare soon, we'll wonder how we ever made it without it. |
Anonymous Coward User ID: 1471245 United States 11/20/2012 02:25 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 10616946 United States 11/20/2012 02:36 PM Report Abusive Post Report Copyright Violation | Re: BOOM: HOUSING STARTS DESTROY EXPECTATIONS AT 894K (Analysts expected 840K annualized down from 872K) |
Anonymous Coward User ID: 1531425 United States 11/20/2012 02:55 PM Report Abusive Post Report Copyright Violation | |
Saddletramp User ID: 78748 United States 11/20/2012 03:01 PM Report Abusive Post Report Copyright Violation | Re: BOOM: HOUSING STARTS DESTROY EXPECTATIONS AT 894K (Analysts expected 840K annualized down from 872K) This is a product of the Fed's QE3, 40 Billion per month purchase of mortgage backed securities... Unfortunately there is no movement on the sale of existing family homes or commmercial property. The glut continues meaning your existing home is still depreciating like a bitch... "And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius "Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..." "We don't rent pigs!" |
Anonymous Coward User ID: 27427004 United States 11/20/2012 03:18 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 23182389 United States 11/20/2012 03:19 PM Report Abusive Post Report Copyright Violation | Re: BOOM: HOUSING STARTS DESTROY EXPECTATIONS AT 894K (Analysts expected 840K annualized down from 872K) There has only been 7 Presidents that have won both terms with over 50% of the vote both times. Obama achieved this...during 7.9% unemployment! Quoting: Anonymous Coward 17756349 The economy is coming back now under Obama. Obama is getting us out of TWO WARS at the same time as everything else on his plate. He'll gone down as one of the greatest achieving Presidents in our history, don't forget ObamaCare either. It'll be like Social Security and Medicare soon, we'll wonder how we ever made it without it. :Bullshit33: |
Anonymous Coward User ID: 28135496 United States 11/20/2012 03:23 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 28008747 United States 11/20/2012 03:35 PM Report Abusive Post Report Copyright Violation | Re: BOOM: HOUSING STARTS DESTROY EXPECTATIONS AT 894K (Analysts expected 840K annualized down from 872K) Mostly what is being built is multiple units not single family housing and that is largely due to many Agenda 21 imperatives under sustainabile growth initiatives. Quoting: Mickeyblue 9806228 Yes we are an entirely single family town (a very small one) and Obama is pushing us to build "affordable housing" which would obviously be multifamily. |
Anonymous Coward User ID: 28008747 United States 11/20/2012 03:36 PM Report Abusive Post Report Copyright Violation | Re: BOOM: HOUSING STARTS DESTROY EXPECTATIONS AT 894K (Analysts expected 840K annualized down from 872K) This is a product of the Fed's QE3, 40 Billion per month purchase of mortgage backed securities... Quoting: Saddletramp Unfortunately there is no movement on the sale of existing family homes or commmercial property. The glut continues meaning your existing home is still depreciating like a bitch... That seems somewhat unlikely, since new houses would compete against foreclosures for buyers. Granted, some people would prefer to avoid a foreclosure, but given enough of a price difference, many would look at them. |
Anonymous Coward User ID: 28008747 United States 11/20/2012 03:39 PM Report Abusive Post Report Copyright Violation | Re: BOOM: HOUSING STARTS DESTROY EXPECTATIONS AT 894K (Analysts expected 840K annualized down from 872K) This is fucked. FUCKED. Renters are going to have to live in their vehicles. Quoting: Anonymous Coward 21211135 agreed! This is horrible for anyone who rents... Hyperinflation is going to suck! How can people even sell their house if it's 50X average annual income? They may need to sell it to get the cash to buy food. There must be some downside for homeowners. That's an odd comment. You're missing your Schadenfreude? |
Anonymous Coward User ID: 28135496 United States 11/20/2012 03:40 PM Report Abusive Post Report Copyright Violation | Re: BOOM: HOUSING STARTS DESTROY EXPECTATIONS AT 894K (Analysts expected 840K annualized down from 872K) This is a product of the Fed's QE3, 40 Billion per month purchase of mortgage backed securities... Quoting: Saddletramp Unfortunately there is no movement on the sale of existing family homes or commmercial property. The glut continues meaning your existing home is still depreciating like a bitch... That seems somewhat unlikely, since new houses would compete against foreclosures for buyers. Granted, some people would prefer to avoid a foreclosure, but given enough of a price difference, many would look at them. I think people being in the house makes it harder to sell. I know we didn't look at any that were occupied. It's just to big of a pain in the ass to work around so many peoples schedule. |
Anonymous Coward User ID: 28135496 United States 11/20/2012 03:44 PM Report Abusive Post Report Copyright Violation | Re: BOOM: HOUSING STARTS DESTROY EXPECTATIONS AT 894K (Analysts expected 840K annualized down from 872K) I just signed my apartment lease for another year. rent only went up $10 Quoting: Anonymous Coward 1531425 If I had to bet, it can go up with a 30 day notice. In 30 years a mortgage will be close to the same. Even at just $10 a year your rent would be $300 more in 30 years. Even though you obviously know it will be much more than that. |
Anonymous Coward User ID: 21211135 United States 11/20/2012 11:53 PM Report Abusive Post Report Copyright Violation | Re: BOOM: HOUSING STARTS DESTROY EXPECTATIONS AT 894K (Analysts expected 840K annualized down from 872K) This is fucked. FUCKED. Renters are going to have to live in their vehicles. Quoting: Anonymous Coward 21211135 agreed! This is horrible for anyone who rents... Hyperinflation is going to suck! How can people even sell their house if it's 50X average annual income? They may need to sell it to get the cash to buy food. There must be some downside for homeowners. That's an odd comment. You're missing your Schadenfreude? Nah, I was wondering if they can get screwed with property tax hikes. We are seeing a lot of messed up shit going on these days that never happened before. |
Anonymous Coward User ID: 21211135 United States 11/22/2012 01:23 PM Report Abusive Post Report Copyright Violation | |