Housing market sucks? Ain't seen nothing yet!
 

Almost HALF of all mortgages will be underwater by 2011 .......

I can't even imagine how fucked up things could get.

http://finance.yahoo.com/tech-ticker...en,kbh,dhi,phm


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I believe it.

I think it will last a long time too.

The housing market was grossly overvalued in many parts of the nation and all of this has helped put it back in check. There are parts of the country where people's homes are now worth half what they paid for them just a few years ago and it will take them years and years to get that value back.

my house went up 100k in the last month, this after it dropped 200k a year go, so there are signs of recovery in some areas.

while banks are whitholding are 1.5 milion of foreclosures in the US. at some point everyone will try to get out of the room at same time....

We aint seen nothing yet.
there is a another whole wave of ARM's about to reset in 2010

well, yep it looks genuine

Flippin crazy. Cash is king, everyone remember that.

Brad

That's the position I'm working to achieve, cash. What worries me is the tremendous amount of it being printed each day.


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Very true...:Oh crap

houses are still over priced

One of my businesses is the disposal of foreclosed properties for the banks.

At the last large industry event, which was closed to the public and (mostly to the) press (who was more interested on reporting the parties in rented mansions), the banks admitted that they were shitting bricks.

We have seen NOTHING yet. They're not exactly singing it from the top of the mountain, but they aren't trying too hard to keep a lid on it, either.

No one has discussed the coming inventory to hit the market in the coming years from baby boomers and the greatest generation all moving on. That will have a huge effect on the housing supply / market as well.

biggest mistake was telling people its ok to default the banks are the bad guys

even people who can pay stopped paying and waiting for the bank to offer them free dinners, hookers, blow jobs and reduced monthly payments

Don't let the media fool you. I do a lot of flipping homes and there is a lot of money to be made off of it. This is the best time for deals and there are a lot of buyers.

The report was prepared by Deutsche Bank Group, one of the world's leading financial service providers not the media. The deals will continue and maybe increase.


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Well when you buy a house that jumped 150k in value in 3 months, then you kind of deserve to have this happen..