SF might know. I'm just curious as to how widely spread this problem is.
How is Richardson...
- Thread starter Cancel 2016.2
- Start date
SF might know. I'm just curious as to how widely spread this problem is.
Toppy knows more about economics than anyone here. Just ask him: he'll tell you.
Anyone who thinks the middle class is "fat & happy," that credit debt is not really a big deal in this country right now, that thinks housing is basically isolated from the rest of the economy, etc., etc., etc., gets an "F" from ol' Onceler on anything economic.
Class dismissed.
Anyone who thinks the middle class is "fat & happy," that credit debt is not really a big deal in this country right now, that thinks housing is basically isolated from the rest of the economy, etc., etc., etc., gets an "F" from ol' Onceler on anything economic.
Class dismissed.
Yeah, sure...that's why I specifically didn't say Topper, because i don't think he has the first idea of what is going on in the sub-prime mortgages. Or, prime ones for that matter.
Cancel 2016.2
The Almighty
Most of the major markets are taking hits to their financial sectors. Many foreign banks bought into the CDOs. Most of the debt is here in the US, but it is held by many foreign banks.... like BNP. (but the majority is still held by US companies... which is why our financial sector is going to take a beating on average)
It could potentially work its way into the commercial side of real estate (mainly just by increases in rates on mortgages... as the mortgage companies and other lenders try to make up for the ass kicking they are going to take on the residential side), but that will not be nearly as a dramatic hit. Many commerical real estate portfolios are getting hammered right now just because they are in real estate. This is presenting good buying opportunities.
Cancel 2016.2
The Almighty
Many interest only and ARMS that were issued in 2005 and 2006 have not reset rates yet. When they do (primarily next year), you are going to see the sub-prime conditions worsen.... then start to dramatically improve in 2009 as most of the problems will have occurred. If you are looking to buy a home, now is a great time to be buying. Next year should be better (on average).... but keep in mind... there are some pockets in the country that have not been affected, so check with your real estate broker to see a more location specific report on how things are going in your local market before buying. (I know most of you already knew that last part, but I put it in as a disclaimer just in case)
Cancel 2016.2
The Almighty
If you can... yes, it is probably a very good idea. A friend of mine with good credit just had her ARM reset. She was able to get a 15 year fixed for about 0.05% higher than the ARM reset. (due in large part to the flat yield curve right now)
Mortgage rates are not as low as they were a couple years ago, but they are still very low compared to historic averages.
As an additional piece on the foreign markets for everyone... keep in mind, they own a lot of US debt... if the subprime market worsens enough to tank the dollar further, they may bail and cause the dollar to fall hard.
On that note, I would like to thank the idiots in DC for the 46+ years of increasing our national debt.
Topspin
Verified User
donisdumbass, lame ass attempt after you get your ass kicked tell a guy all he cares about is money. Fuck, I might lose a nanosecond of sleep after that.
Onceinacollegeclass did you ever get a degree? Are you in that struggling middle class, your such a moron you don't even know where the middle is.
Onceinacollegeclass did you ever get a degree? Are you in that struggling middle class, your such a moron you don't even know where the middle is.
"Onceinacollegeclass did you ever get a degree? Are you in that struggling middle class, your such a moron you don't even know where the middle is"
It's always the personal attacks when you're getting hammered in debate; face it, the facts are not on your side.
And yeah - I gots me a degree, and I also worked, saved & invested myself up & outta the middle class. You tend to do this in debate (again, when you're losing); you take a very well-known fact that I might say about the economy, like the fact that many Americans have borrowed themselves silly against overinflated home values, and think that I'm talking about myself & a small group of friends. I'm actually talking about other people...MANY other people; I'm outta debt, personally.
Got anything else? Why don't you bust out that "girly" thing you always do. That's always good for a few points...
It's always the personal attacks when you're getting hammered in debate; face it, the facts are not on your side.
And yeah - I gots me a degree, and I also worked, saved & invested myself up & outta the middle class. You tend to do this in debate (again, when you're losing); you take a very well-known fact that I might say about the economy, like the fact that many Americans have borrowed themselves silly against overinflated home values, and think that I'm talking about myself & a small group of friends. I'm actually talking about other people...MANY other people; I'm outta debt, personally.
Got anything else? Why don't you bust out that "girly" thing you always do. That's always good for a few points...
doniston
Aint I a cutie? HEH HEH
What in hell are you talking about. there is a partial phrase here and there I can make out, but the rest is gibberishdonisdumbass, lame ass attempt after you get your ass kicked tell a guy all he cares about is money. Fuck, I might lose a nanosecond of sleep after that.
Onceinacollegeclass did you ever get a degree? Are you in that struggling middle class, your such a moron you don't even know where the middle is.
Last edited:
Topspin
Verified User
Onedumbass, like most turbo-libs you take a talking point and extrapolate it to suite your argument.
Fact Most americans are not defaulting on there mortgages, in FACT it's under 3% and most of these would not have gotten loans 10yrs ago.
The bankers should get kicked in the balls, they are not. The fed bails them out with liquidity (read buying their dog shit wrapped in a bow). Then the fed should restucture the moron homeowner to a fixed rate mortage.
Fact Most americans are not defaulting on there mortgages, in FACT it's under 3% and most of these would not have gotten loans 10yrs ago.
The bankers should get kicked in the balls, they are not. The fed bails them out with liquidity (read buying their dog shit wrapped in a bow). Then the fed should restucture the moron homeowner to a fixed rate mortage.
doniston
Aint I a cutie? HEH HEH
if you are talking to me fine. if to someone else, I don't know who. but this is par for the course with your posts. anyway. what has happened thus far is just the tip of the iceberg.Onedumbass, like most turbo-libs you take a talking point and extrapolate it to suite your argument.
Fact Most americans are not defaulting on there mortgages, in FACT it's under 3% and most of these would not have gotten loans 10yrs ago.
The bankers should get kicked in the balls, they are not. The fed bails them out with liquidity (read buying their dog shit wrapped in a bow). Then the fed should restucture the moron homeowner to a fixed rate mortage.
uscitizen
Villified User
Yeah same here I have zero debt. Lovin it too.
I wonder how much debt the master spinner has ?
Last edited:
doniston
Aint I a cutie? HEH HEH
try doniston and/or onceler or don't you have that much sense???
Top I hope you are not conflating me with the dirty old man Doniston? Because I have him on IA. His posts, his picture, and his very being make me want to puke, puke puke. If you are going to conflate me with him, I will have to put you on IA too, so that I don't puke, puke, puke.
It is. You just have to go into someone's profile, and you can put them on an ignore list.