[...] and this was one of the major reasons for the collapse in our economy, as Mata pointed out in her “US Economy – A “perfect storm” of housing and lending events” [...]

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[...] will not go into a detailed analysis; it is just not my specialty. Mata has done some incredible writing on the crises and explained it much better than I could ever begin. I just [...]

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Forbes and all the rest of you brainiacs have got to get real. Why do you keep on trying to make your voodoo turnaround work? The Greedy financial geniuses forced the economy out of kilter and the genie is not going back into the bottle until the ones who pulled it out remove the excess fat so that it can fit back into the bottle.

There are more foreclosures than the industry have brought to light. The industry is allowing some defaulters to remain in their homes FREE, because they don’t want the REAL number of foreclosures to show up on their books. My daughter is one of those lingering in limbo for more than a year. Still trying to manipulate the system hoping they don’t have to pay the pauper for their dirty deeds of creating this greedy monster in the first place. They still want to continue their runaway greed. But, I don’t think it’s going to work. They, the financial industry, has created its own checkmate and what they leave us – the opportunity of taking installment loans in order to live for another paycheck. I predict that one, of two things, will happen. The industry will either eat their self-created losses or there will be a Worldwide financial BUST.

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[...] House of Dollars – http://www.123rf.com It’s four months shy of three years since I penned the post, “A Perfect Storm of Housing and Lending Events.… the crash of the US housing market and economy. Since then, it’s been stimulus after [...]

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[...] s1.parentNode.insertBefore(s, s1); })(); In Sept, 2008, I penned the post, the US Economy: A Perfect Storm of Housing and Lending Events. This overview of how we managed to bring ourselves to the precarious cliff of a failed economy [...]

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MISSY, hi, that is a smart way to earn extra, money If you can repair the problems of the house,
specialy today you would have the agency to have the expert going around, and see if it is environment adequate or if not you can’t sell it before it’s done.

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MSBees Extra treasures could be,though with all those car payments doubt he can afford my home BYE

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rich wheeler, hi, next thing your neighbord will want to by your house to put his extra treasures in it,, bye

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We are in our 7th home in 30 years. Be bought, fixed them up and moved on, the home we sold in 2002, we had built, lived in it for 5 years and made $44,000, the home before that, we cleared $33,000 after 5 years, that was a HUD repo, nice home, didn’t have much to do other than a good cleaning and a few repairs. As we were pulling the plywood off the doors and windows our new neighbor came by and informed us that an armed bank robber lost that home, we later found out he was still at large so we added new locks and security doors to our plans. He never showed up, all we ever got was a note on the door from the FBI asking us to call, when I called the agent said he was just looking for the bank robber.

We basically were paid quite nicely to own all those homes, sweat equity. Don’t know if it would be possible to do what we did in today’s market. But, outside of our home we will move to in Missouri, none of the homes we purchased were ever considered a lifetime investment.

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Mata Thanks for your studied response .Adjusted values reflect SFR vs “all homes” which includes condos.No question it will take a long time to get back to grossly inflated o7 prices.

I can assure you large communities like Newport Coast and Coto de Caza have a substantial % of homes over 4000 sqft.Newport Beach and Laguna Beach where I worked in res. sales have hundreds of mcmansions selling from 3 million to 15 million,still down 25-35% from 07 highs.I’ve been primarily in the mortgage business the last 20 years so missed the boom in values generally working in $100,000-$300,ooo range 1977-1990.
As a mortgage broker/banker in recent years I’ve funded loans from $50,000 to $3,ooo,ooo.
Believe me I find joy in helping families buy or finance as big and as expensive homes as they think they can afford to Live in.
People buying multiple homes on the flip or “greater fool theory”(someone will pay more in a year) do bother me.
The guy next door to me here in San Clemente in a 1700 sq.ft. home has a Porsche,a Vette,a Lexus and 3 Mercedes and asked to rent half of my garage which houses a 2000 323 i conv with 130,000 miles and a 2005 Mitsubishi S.U.V. which is for my wife and our 2 Goldens.So he often parks in front of my house.Sorry I’m venting.
Personally I kinda enjoyed the congeniality witnessed last night though I suspect it won’t last long.

Semper Fi and best of luck in your R.E. career.

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