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Foreclosures exceed Monthly Home Sales in CA

Discussion in 'Political Discussion' started by weswelker#83, Feb 25, 2008.

  1. weswelker#83

    weswelker#83 Rookie

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    Last edited: Feb 25, 2008
  2. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    I would suspect that this news will have an effect on the stockmarket, a lot of families who have to leave their homes with ruined credit.. it was just too easy to get a mortgage a while ago, and from what I have heard is not all that hard right now.
  3. STFarmy

    STFarmy Rookie

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    It isn't super tough now. The kicker to me is that the banks still offer ARMs to people. WHY??? And foreclosures should be high now, the economy has an imbalance to make up for. Banks shouldn't have been offering those stupid deals, and these morons shouldn't have taken them. The banks should have been more up front and the people should have done more research.
  4. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    This "news" was priced in to the market causing the 15+% drop the past 6 months or so. Foreclosures aren't a big deal to the market now, as long as the banks and the banks' insurers survive then we've seen the bottom of the market. Of course, those issues are still touch and go.
  5. Real World

    Real World Moderator Staff Member

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    Some people should be happy to see foreclosures since it means the prices will be coming down to affordable levels, if they're a prospective home buyer. What was once grossly overpriced and unaffordable, in a sellers market, is now affordably priced in a buyers market. If you saved your money, or lived wisely for the last 5 or so years, you should be looking right around now. I think it still has some room before it hits the bottom though. I think this time next year I'll be house shopping.
  6. Fogbuster

    Fogbuster Rookie

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    .


    [size=+4] Farging Bush!!

    Farging REPUBLICANS!!

    Farging Governator (ain't even American-born)!!!

    Screw NAFTA!! [/size]


    //
  7. wistahpatsfan

    wistahpatsfan Rookie

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    And guys like me who are sitting waiting for the bottom with cash in hand just sit and wait..........
  8. jack

    jack Rookie

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    Can we stand it? Consumer confidence at an 6-year HIGH!! ( 1 2 3 ... Last Page)
    Fogbuster
    ................................................
    Last edited: Feb 25, 2008
  9. Terry Glenn is a cowgirl

    Terry Glenn is a cowgirl Banned

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    I already am looking for wholesaling properties... but, where is the bottom at?

    I already got reprimanded for my sig file "ad"...
  10. Terry Glenn is a cowgirl

    Terry Glenn is a cowgirl Banned

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    Did you copy and paste my old post????
  11. Real World

    Real World Moderator Staff Member

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    I'd hold on a tad longer. It's not a bad idea to look a little bit, and maybe go see some properties. This way you'll be able to get a feel for trends, and what's truly out there. My sister has been doing that for a year now. I was going with her to see some properties, and it's amazing what they were going for 6 months ago compared to a couple of years ago, but even more amazing to see the change from 6 months ago to today. I think there is more room underneath, so I've advised my sis to hold on. Some people obviously either don't want to or can't wait, but in any case, buying now means a significant savings over a couple of years ago. Six figure savings in virtually all instances. As Alexander Hamilton once said "money is best kept in the hands of those who know how to spend it". Anyone in here who wants a nice retirement plan, or is looking to make a nice investment that they can pass down to their children, should be looking at rental property right aorund now. The prices are way down on multi families. Buy a nice 3 or 4 family, even two, and you'll not only set yourself up, but you'll set your kids up down the road. At the right price, property is still one of the best investments going.
  12. Terry Glenn is a cowgirl

    Terry Glenn is a cowgirl Banned

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    While I agree to a point with your post, you have to be careful for what you wish for... because this may be the breaking point... and could trigger a VERY bad recession.

    The twenties/thirties could be a cakewalk compared to this one.

    Not saying that it's going to happen... but, it very well IS possible.
    Last edited: Feb 25, 2008
  13. Terry Glenn is a cowgirl

    Terry Glenn is a cowgirl Banned

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    What are you gonna do with yer nest egg... when the peso outshines our dollar????

    hehehehe...

    I wouldn't put all of my "eggs" in that basket.

    Pun intended.
  14. weswelker#83

    weswelker#83 Rookie

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    Last edited: Feb 25, 2008
  15. QuiGon

    QuiGon Banned

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    That statement is ridiculously ignorant on so many levels....
  16. Terry Glenn is a cowgirl

    Terry Glenn is a cowgirl Banned

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    You don't even know what ignorant means... fool.
  17. QuiGon

    QuiGon Banned

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    Nice edit, moron... don't worry though... everyone can see you edited your post about a half hour after I made mine... :rofl: :rofl:
  18. Terry Glenn is a cowgirl

    Terry Glenn is a cowgirl Banned

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    The Great Depression (also known in the U.K. as the Great Slump) was a dramatic, worldwide economic downturn beginning in some countries as early as 1928. The beginning of the Great Depression in the United States is associated with the stock market crash on October 29, 1929, known as Black Tuesday.

    So... the great depression DID start in the twenties.

    There is your lesson for the day Buckwheat.
  19. Terry Glenn is a cowgirl

    Terry Glenn is a cowgirl Banned

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    It DID start in the twenties... everyone can still see that you're the fool.

    You can call me ignorant any day... as long as you're the fool.

    There is a clear difference between the 2.

    Maybe some day you can look it up.
  20. QuiGon

    QuiGon Banned

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    Spin, backtrack, spin, backtrack...

    I love it when someone says something stupid and when they get called out on it, they humiliate themselves even further by refusing to admit it... It's 1,000 times easier to say "hey, I made a mistake, no big deal..." :rofl: :rofl: But ignorant, foolish morons like TGIAC just can't realize this... :rofl:
    Last edited: Feb 25, 2008

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