Sunday, September 14, 2008

Just think...a few years ago everyone said we were nuts for thinking house prices were going to crash.

6 comments:

Bakersfield Bubble said...

I had a really long post with some great information and then my fucking computer crashed! Fuck!

Oh well.

Let me summarize what I wrote before it was deleted by my stupid computer.

Lehman, who has significant real estate in Bakersfield has folded. All of this was a result of lies to get the average joe and jane to go into debt to buy a now depreciating asset...etc...

bronson said...

Just more proof of the conspiracy... If you were writing about how the market bottomed this month, everything would have posted without a hitch.

Bakersfield Bubble said...

LOL

Yeah... no bottom, that is for sure.


Lehman is done

AIG is on the verge of collapse

Credit is contracting.

Deflation is on the way

Realestateslasher said...

Lehman, Bakersfield ho my what will we do with the REO market with no one to sighn those Grant Deeds reo agents get ready for escrow delays the fun starts

Bakonewbie said...

I think it is time to re-think my plan to buy a house and use it as a future rental after living in it for a year.
I am thinking I'd rather over-pay for rent by $10,000 than buy a house for $200k that may very well be worth $160k this time next year.
I am finding "deals" few and far between. Banks are listing houses at "low" prices only to try to insight a bidding war. (seems it is working)
I guess one area of concern is interest rates. Where will they be next year? Thoughts?
I think it is clear that this market is not near bottom. I'd still like to own rather than rent but the only deals I have seen at at the trustee sale.
This sucks...

bob said...

six months ago, i wrote our local congressman that the presidents decision to forgive the 1099 income on short sales would cause a massive amount of new forclosures and short sales when we let people walk away from depreciating values in housing market.....lots, i mean lots of people jumped out and let the mortgage holder bite the bullet!