From the New York Times:
Defining the Buyer of the Future
FLUX and turmoil will not rule the state’s residential real estate market forever, as all market specialists agree. But what comes afterward?
“The question isn’t ‘When do things go back to normal?’ ” declared Rutgers University’s planning and public policy dean, James W. Hughes. “It’s ‘What will the new normal look like?’ ”
The short answer from the housing trend analyst Jeffrey G. Otteau: “very different.” Economic, financial and sociological changes now in progress will effectively morph the profile of the typical home buyer over the next 15 years, said Mr. Otteau, whose company, the Otteau Valuation Group, issues monthly reports on trends to subscribing brokers and developers.
“Most striking are numbers that indicate the typical buyer of the future will be childless,” Mr. Otteau said in a recent interview. “Either single, part of a childless couple, or with grown children.”
…
Another major change is that an overwhelming majority of buyers for at least a decade will consider “value” much more important than luxury features or amenities. Economic fallout from the collapse of various Manhattan financial institutions will affect the entire metropolitan region, keeping consumers in a value-oriented mind-set for the foreseeable future, or until new “economic drivers” are found, Mr. Otteau said.He predicted that these two strong trends — childlessness and economy-mindedness — would combine to have a “topsy-turvy” effect on what has traditionally been considered the most desirable type of housing: the spacious single-family home in a suburban town with great schools.
…
Other factors increasingly important to buyers, as documented by both the Otteau reports and research from the Rutgers University public policy school, are energy costs, commuting time and the availability of mass transit. All these elements enhance the appeal of urban settings.
…
As for developers of the future, Mr. Otteau said they were likely to start paring down the amenities, especially as many are being forced to sell properties for less than it cost to build them.That will be just fine with the buying public — who will “also demand smaller and more efficient housing with less glitz,” he said, “fewer open common areas, not-so-high ceilings, and not-necessarily-designer cabinets.”
My neighbor’s house was finally seized by the bank. They stopped paying their mortgage more than a year ago, and abandoned the house a few months back.
Realtor was desperately trying to short sell the property, but even short it was way overpriced.
Saw the Realtor sign come down on Friday, and this afternoon I saw the telltale “combo-box” latched to the rail.
The last asking price was 28% below the 2006 purchase price.
OT alert:
Geez, we must be widely read here. I seem to recall discussing something a lot like this on the board months ago:
NEW YORK – As the Obama administration attempts to push through Congress a nearly $1 trillion deficit spending plan that is weighted heavily toward advancing typically Democratic-supported social welfare programs, a rebellion against the growing dominance of federal control is beginning to spread at the state level.
So far, eight states have introduced resolutions declaring state sovereignty under the Ninth and Tenth Amendment to the Constitution, including Arizona, Hawaii, Montana, Michigan, Missouri, New Hampshire, Oklahoma and Washington.
Analysts expect that in addition, another 20 states may see similar measures introduced this year, including Alaska, Alabama, Arkansas, California, Colorado, Georgia, Idaho, Indiana, Kansas, Nevada, Maine and Pennsylvania.
“What we are trying to do is to get the U.S. Congress out of the state’s business,” Oklahoma Republican state Sen. Randy Brogdon told WND. . . .”
Needless to say, the source isn’t MSM. And FWIW, I don’t see these going anywhere, but the fact that so many state legislatures are floating bills that, in effect, put the state a little closer to the exit is interesting.
Now, these aren’t secessionist measures. There is nothing evident in the stories to suggest that. But one state’s bill (Arizona), actually recalls military personnel. How that exactly works is beyond me, maybe by recalling the Guard, but one doesn’t activate a military unless one thinks it might get used.
Can be a ‘tart here and ask HOW to get listings from realtor.com that are within specific areas, but EXCLUDE certain areas…
OIW, I can do “within” 10 miles, but I’m getting tons of towns that I DON’T want.
I just want certain zip codes.
Halp?
[3] further to my OT alert. I thought the reporting was a bit tin-foil hat kind of stuff. But then I find the NH resolution, a state that has gone reliably democratic of late.
Excerpt from actual resolution:
“That any Act by the Congress of the United States, Executive Order of the President of the United States of America or Judicial Order by the Judicatories of the United States of America which assumes a power not delegated to the government of United States of America by the Constitution for the United States of America and which serves to diminish the liberty of the any of the several States or their citizens shall constitute a nullification of the Constitution for the United States of America by the government of the United States of America. Acts which would cause such a nullification include, but are not limited to:
I. Establishing martial law or a state of emergency within one of the States comprising the United States of America without the consent of the legislature of that State.
II. Requiring involuntary servitude, or governmental service other than a draft during a declared war, or pursuant to, or as an alternative to, incarceration after due process of law.
III. Requiring involuntary servitude or governmental service of persons under the age of 18 other than pursuant to, or as an alternative to, incarceration after due process of law.
IV. Surrendering any power delegated or not delegated to any corporation or foreign government.
V. Any act regarding religion; further limitations on freedom of political speech; or further limitations on freedom of the press.
VI. Further infringements on the right to keep and bear arms including prohibitions of type or quantity of arms or ammunition; and
That should any such act of Congress become law or Executive Order or Judicial Order be put into force, all powers previously delegated to the United States of America by the Constitution for the United States shall revert to the several States individually. Any future government of the United States of America shall require ratification of three quarters of the States seeking to form a government of the United States of America and shall not be binding upon any State not seeking to form such a government; and
That copies of this resolution be transmitted by the house clerk to the President of the United States, each member of the United States Congress, and the presiding officers of each State’s legislature.”
Basically, they claim that if the Feds enact certain laws, they regard the Constitution as nullified.
I reiterate that I don’t ever seeing NH or any other state becoming a “breakaway republic” but this is eerily close to my ramdom musings of what is theoretically possible.
This constitutional scholar and political junkie is just a bit spooked.
I’ll devote no further bandwidth to it. If Kettle and SAS are correct, I think I have to wipe my hard drive now.
comrade.
If you are serious, CHOP UP your HD. Reformatting it STILL leaves data on there.
http://www.realtor.com/realestateandhomes-detail/162-Horseshoe-Bend-Rd_Frenchtown_NJ_08825_1100384116
NO NO NNONONONONONO!!!!
OMG!
The kitchen!!!!
It hurts!!!!!
WFT????
Kitchen and Autopsy Rooms, LLC?
http://www.opacity.us/image1427_autopsy_room.htm
Check out the 3rd comment:
“Makes a hell of a kitchen”
I was at Freehold mall today. I could not believe how crowded it was. I kept wondering where is the recession.
I can’t believe I sound like Frank.
Other factors increasingly important to buyers, as documented by both the Otteau reports and research from the Rutgers University public policy school, are energy costs, commuting time and the availability of mass transit. All these elements enhance the appeal of urban settings.
on one hand, you have Reuters reporting a few weeks ago that major cities could become dangerous again as states that are on the way to bankruptcy struggle to deal with less cops on the street and more unemployed characters roaming the street.
and now you have this guy saying that people will want to live in urban settings due to property taxes.
grim, what say you?
BC?
Clot?
Q: The republican who is pushing this 15k tax credit … lemme guess, he’s a big real estate developer?
this has to be a backscratch for his friends, right?
“and now you have this guy saying that people will want to live in urban settings due to property taxes”
this “guy” is a compartmentalized stooge.
SAS
Hi grim
This realtor named Cathy is creating lot of noise on Trulia saying prices in Edison / Metuchen have gone up in Jan 09 compared to Dec 08 !! She has details posted on her website
http://www.yourhousefast.com/members-only——–.asp
I live in Edison and the numbers seems unreal. Any comments ?
urban or rural, doesn’t matter.
the question is, where is the cash flow?
and the cash flow is going out if the country with a pitstop in new york so the wall st. & big wig bankers can take take off the top.
next question, how do you keep the cash/money flow circulating locally, and not being sucked out and intermediated by NY/Wall St.
and you wonder why you can’t find a job?
SAS
“the question is, where is the cash flow?”
its being sent to offshore banks (anyone been to sigapore lately?).
along with the help of so called “bailouts”
and the news show you michael phelps and that causes you an uproar, meanwhile your pension funds & 401k gets sucked dry…
we all love Hg contaiing HFCS.
SAS
Shut off CNBC and listen to Ray. One of the best;
http://seekingalpha.com/article/119250-ray-dalio-a-long-and-painful-depression-barron-s-interview?source=article_lb_articles
“The biggest issue is that if you look at the borrowers, you don’t want to lend to them.”
From #14,
Liquidity vehicles, capital injections, overpaying for bad assets, freezes, bad banks, etc.. Absolutely nobody is discussing the demand side of the equation. Debt/disposable income is at 1930 levels. Got demand?
i dont understand how that kid in the story is all stoked about paying 422k for a 2 bedroom joint in union city.
a) union city is a dump, and will further deteriorate in the coming years as social unrest mounts
b) he’s a freelancer – that means no steady income
c) what’s his mortgage and other carrying costs?
my sis was laid off a couple weeks ago. She is very experienced in retail management and always had recruiters contacting her for positions while she was employed.
So she put out electronic resumes, many and the only response back was from a 12 dollar an hour telemarketer.
Ouch.
“How One Fund’s Profits Ended Up in the Caymans”
http://tinyurl.com/auganr
One more piece of evidence that we’re all turning Japanese:
“Most striking are numbers that indicate the typical buyer of the future will be childless,” Mr. Otteau said in a recent interview. “Either single, part of a childless couple, or with grown children.”
yikes (8)-
All these guys are trying to read chicken guts and tea leaves. Less than two years ago, a lot of the same people would’ve told you that we’d all be living the permanent ex-urban life, complete with personal small aircraft.
I tend to think Revelations is still a good catch-all predictor of the future.
And the biggest message Revelations has always tried to deliver is that real hell can only exist between your ears.
yikes (9)-
More like jerk-off.
sas (18)-
I’m a reasonably smart guy- with only two drinks under his belt at the moment- and I can’t follow this shit.
How can your average sheeple even be prompted enough to care?
Is the only way the sheeple can be lead to care via the route of publishing giant pictures of the perpetrators with targets and bull’s eyes on their heads?
What is this, an audience or an oil painting?
Everybody watching the Grammies?
Urrppp.
“One more piece of evidence that we’re all turning Japanese:”
Clot,
Injecting capital into dead banks, stimulus plans, building bridges to nowhere, 0% interest rates, printing and monetizing debt, aging population, debasing its currency, etc… Yes, we have turned. However, scary part is Japan had built up reserves, had a positive account balance and population had savings to draw upon. We probably wish we were turning Japanese, that be our best hope.
I used to rule the world
Seas would rise when I gave the word
Now in the morning I sleep alone
Sweep the streets I used to own
I used to roll the dice
Feel the fear in my enemy’s eyes
Listen as the crowd would sing
“Now the old king is dead! Long live the king!”
One minute I held the key
Next the walls were closed on me
And I discovered that my castles stand
Upon pillars of salt and pillars of sand
“Everybody watching the Grammies?”
Clot,
No, I’m watching Mrs Watanabe.
Clot [25]
Poor men wanna be rich, rich men wanna be kings,
And a king aint satisfied till he rules everything.
BC (26)-
400K? Gimme that job you talked about. I’ll take 20K of my own loot and make money for everybody.
Just show me how to point the money gun at Mrs. Watanabe.
Bitch.
if they can find it. IF you think its hard to find a job in this climate, trying being old.
sorry Jerome & Kisha, if anyone is discriminated against, its the elderly..
“Savings lost to Madoff, elderly forced back to work”
http://tinyurl.com/bzw5b7
SAS
“China Trade Collapse Weakens Taiwan Dollar”
http://tinyurl.com/aekcm6
-“Intra-Asian trade has collapsed,” said Wai Ho Leong, a regional economist in Singapore at Barclays, the third-biggest foreign-exchange trader
lol
Kermit :)
http://obamiconme.pastemagazine.com/entries/new.html
SAS
sas (31)-
Welcome them to the race to the bottom. Put them in their own lane, hand them a baton, dump some A-Rod brand ster@ids in their water bottles, and tell them to start running hard.
They’ve got a ways to go in order to get onto the pace.
Nom 2
Re arizona military
The states control over their own national guard untis was revoked under federal law by bush. I believe it was attached to one the patriot act bills.
That pissed a lot of states off as before that, states national guard units were under the control of the governor and he had to “release” them to the FEDS.
It sounds to me like the portion about recalling the national guard units is about reinstating state control over their own national guard units
“Just show me how to point the money gun at Mrs. Watanabe.”
Clot,
She’s convinced she’s right and the market is wrong. She keeps doubling, tripling up every time the Yen moves higher. Constantly trying to pick a top. HMMM, sounds like the dolts on CNBC, they have called about 16 bottoms so far. Is she any different than those holding financial stocks; doubling, tripling down?
vodka (34)-
Why can’t I get the phrase “posse comitatus” out of my head?
BC (35)-
Happen to know the Japanese word for “tilt”?
Nom,
i might suggest using Truecrypt (google it) to encrypt you entire harddrive. The only way the encryption would be broke is if you pissed the CIA off enough for them to use their super computers to crack the encryption. Of course you have to chose a much better pass word then the typical pet or child combo.
As a bonus the 5th amendment defense has been upheld in regards to refusing to divulge passwords to encrypted files
BC (35)-
So Mrs. Watanabe sees the “margin alert” prompt on her screen 1-2 times a day, then pumps more money into her account like a one-armed bandit junkie in AC?
it has been acknowledged that the CIA can crack such high level encryption, but apparently even the FBI cant, they can run key word searches, basically guess all common passwords and variations, but a truely random and strong password is not vulnerable to such an attack.
There are also programs that meet dod specs for erasing harddrives. The wipe the data then rewrite random data over the entire disk multiple times. Once again the only people who are even capable of recovering data after this would be the CIA
Nom
No Computer Exception to the Constitution:1
The Fifth Amendment Protects Against Compelled
Production of an Encrypted Document or Private Key
http://www.lawtechjournal.com/articles/2004/02_040413_clemens.pdf
“Happen to know the Japanese word for “tilt”?”
Clot san,
Sake?
“then pumps more money into her account like a one-armed bandit junkie in AC?”
Clot san,
Or, like Bi.
BC (42)-
I’ll have mine warm, please.
As spam said, if you dont want the data to ever be recoverable, thn open the hard drive, take all of the platters out and smash them into little bits with a hammer.
of you could try this (thermite)….
http://www.youtube.com/watch?v=GaEPyYcV2sM
I’m now guessing that the Japanese word for “tilt” and “margin alert” are the same.
Samsung?
vodka (45)-
Once again, you are demonstrating that you are a very useful man at a very trying time.
Nom
I reiterate that I don’t ever seeing NH or any other state becoming a “breakaway republic” but this is eerily close to my ramdom musings of what is theoretically possible.
can you refresh my memory????
Clot san,
Ouch;
http://charts3.barchart.com/chart.asp?vol=Y&jav=adv&grid=Y&divd=Y&org=stk&sym=J6H9&data=E&code=BSTK&evnt=adv
Clot,
whats the scene with new construction???? are llota and construction as absurd as everything else?
The 15K deal as well as the USDA thing have actually piqued my interest
clot,
maybe reading all of the old tom swift books on top of watching to much mvgyver will come in handy one day
vodka-
If I ever write a screenplay, this is the first line of the movie:
“if you dont want the data to ever be recoverable, then open the hard drive, take all of the platters out and smash them into little bits with a hammer.”
vodka (50)-
New residential construction?
Dead. Dead pretty much for the near future. You can’t get construction-to-close money anywhere.
clot,
i only skimmed the the USDA stuff, but they do specifically mention that construction
vodka (54)-
Hoo boy! Go for it! I didn’t really read any of the details, but given the terms they offer, I can’t say I’m surprised.
This thing is like Willy Wonka’s fountain of chocolate.
BC, from that link:
Inflation/deflation. A wave of currency devaluations and strong gold will negate deflationary pressures, bringing inflation to a low, positive number. A dollar devaluation is good, bringing pricing in line and offering relief to the debt load. And it almost always triggers a major stock-market rally.
so this genius doesn’t seen runaway inflation happening?
Bob,
you mentioned our comparison to japan.
Japan has 2 options, either bring in immigrant labor to take care of the aging japanese population and supply labor, or develop robotics.
they have chosen robotics hence:
http://www.youtube.com/watch?v=ynL8BCXih8U
a very real exoskeleton developed in japan…. this is one of many robotic techs they are working on to take the place of immigrant labor/support.
The point is that also, like japan, we will see excess housing in the near future unless there is a sustained influx of immigrants. The native population of the US is at a break even birthrate.
How does housing recover when you have more dieing then being born??? Will/would the US population accept a concerted effort to grow through immigration? Yes its already been happening the last 8 years, but how will this be tolerated during a down turn???
only time will tell.
Yikes
Inflation/deflation. A wave of currency devaluations and strong gold will negate deflationary pressures, bringing inflation to a low, positive number. A dollar devaluation is good, bringing pricing in line and offering relief to the debt load. And it almost always triggers a major stock-market rally.
the author is an idiot
currency devaluation doest work as intended if everyone does it. the relative levels remain the same
57. Kettle
I support new immigration as long as the current culture of new immigrants changes. Let me explain. Over the last 15 years, new immigrants both legal and illegal, see the USA as a temp agency of sorts, a place to make dough to send back to the homeland. I want citizens, not employees.
vodka (58)-
I like the Euro solution:
I have an agent whose kid (now 25) has been a combat medic in Iraq. He’s been over there since Day 1: multiple tours, and R&R in Germany when he needs to bug out.
Well, on his first leave, he meets a 41-y/o h0oker and falls in love. About two years after he meets her, the German gubmint decides to “repurpose” all their aging ladies of the night into geriatric care work.
So now, my agent’s kid gets to walk out of Iraq, enter Germany and marry the “girl” of his dreams…who now has a respectable day job.
Barb (59)-
So why do these people want a citizen’s stake in a chunk of shit like the one we’re running now?
All about the Benjamins, baby.
Yikes,
I should have read the whole article first….
Idiot, he is not, but i do disagree with a number of his points. oh well jumped the gun on that one….
Hey grim,
how about the ability to edit out posts???
“Layoffs Ravage Atlantic City Casinos”
http://tinyurl.com/d37kav
Barb,
I take no stance on immigration on public blogs, simply posing points for contemplation
‘Bailout Bill’ hands out free money in NY
http://www.chinadaily.com.cn/world/2009-02/09/content_7455741.htm
Clot,
are you saying we can solve our little solvency problem by all marrying post prime prostitutes?
“Mexicans do not have problems getting a job???”
Hundreds of them live in my town and since I can barely afford this town, they are doing very well.
More video on Bailout Bill.
http://www.nbcnewyork.com/news/local/_Bailout_Bill__Hands_Out_Free_Money_Near_Times_Square_New_York.html
“Layoffs Ravage Atlantic City Casinos”
AC is a dump, they should close everything but Borgata and layoff all of them.
you better hope for immigration.
“Nancy Pelosi: Birth Control Will Stimulate the Economy”
http://tinyurl.com/c4pgsv
SAS
Only been to AC once but had the same impression as frank
AC is a dump, they should close everything but Borgata
AC puts me to sleep
SAS 71
really??? in general terms whats wrong with a stable, near 0 growth population? Such a scenario has unique challenges no different he growing population, but the issues are more manageable
SAS,
what your take on destroying harddrives? thermite, a hammer, or a shotgun?
AC sucks. Once I turned 21 I quit going.
I was always amazed at the toothless no frills clothes wearing masses dumping hundreds there.
Why not save that money for some dental work and a trip to kohl’s.
safe 76,
i just found the massive line of old people at the credit card advance window depressing
kettle1 77
It’s a real depressing place.
I went a few years ago with a couple we’re friends with. Amazing how people have no clue how to play blackjack.
With a bit of basic math and a good memory,
Better stop here before I sound like sas and clot
http://www.newyorker.com/talk/financial/2009/02/09/090209ta_talk_surowiecki
interesting graph:
And, in the case of public-sector intervention during financial crises, evidence for its dangers is surprisingly flimsy.
The International Monetary Fund, for example, has helped bail out developing countries across the globe. If those bailouts heightened moral hazard, you’d expect the recipient countries to be more reckless in their spending and borrowing, and outside investors to be more careless in their lending. Yet a number of studies looking at the effects of I.M.F. bailouts on things like credit spreads and capital flows have found little evidence for that. On the contrary, a 2002 study by Steven Kamin, of the Federal Reserve, found that, when it came to investing in developing countries, “investors appear to be discriminating among credit risks more carefully than ever.” Similarly, the U.S. government’s bailout of banks this fall hasn’t led them to lend rashly; indeed, they’ve been attacked for not lending enough.
BC Bob says:
February 8, 2009 at 8:05 pm
Shut off CNBC and listen to Ray. One of the best;
http://seekingalpha.com/article/119250-ray-dalio-a-long-and-painful-depression-barron-s-interview?source=article_lb_articles
i dont know, kettle … BC BOb says the opposite
yikes,
then listen to BC…… i havent read the entire interview
Full Barrons article is posted here:
http://nustouse.blogspot.com/2009/02/recession-no-its-d-process-and-it-will.html
Used to get Bridgewater analyses over the years; always found them pretty interesting…
Yikes,
read the interview. As i said before i jumped the gun. I agree with 90% of what ray has to say. remember i am just a janitor
“what your take on destroying harddrives? thermite, a hammer, or a shotgun?”
I get mine melted.
SAS
#12 tom: Prices have gone up in on month?
kettle –
not making an issue of it at all. i’m a janitor, too. im just interested in reading and learning.
ket, 75 SAS, 84
What’s wrong with smashing the platters then taking a tunaboat out to the canyons offshore and dumping the concret encased mass overboard?
Canyon’s pretty deep… I don’t see anyone looking to dive for data there.
sl
“Amazing how people have no clue how to play blackjack”
like when I goto Vegas, and I see all those people on the strip gambling thinking they are cool cats.
ha!
the real gamblers play off the strip.
why? better odds.
joints off the strip need to draw people in, so they do 1 deck shoots. follow the aces & count, easy & smooth as silk.
you stay on the strip & think your Burt Reynolds, you’re getting taken for a ride. but, the women on the strip are damn hot, thats for sure.
If I want to chase tail, only then do i stay on the strip.
:)
SAS
86 yikes.
janitor… damn! I want a promotion and a raise…. I’m just the cook!
sl
#50 kettle: I guess I am still not getting the 15k thing. It is a tax credit, is it not? Why all the fuss?
“J.P. Morgan’s Abusive Excutives Bonuses”
http://tinyurl.com/dkh9ts
WSJ et al been leaking elements of this upcoming “plan” – “partnering with private sector” blah blah to bail out banks. All that private capital in the wings, just waiting to save us.
Can’t wait til they factor in another 20-30% drop in home values, should do wonders for the valuation models.
You can re-arrange those deck chairs all you want, someone is going to take the hit.
Let’s see, $65bil “invested” in our favorite bank, mkt cap about $19bil. Plus loan guarantees and it’s not close to the end. Yet we don’t own them outright? Stop jerking everyone around, just nationalize the SOBs and get it over with. Everything in between is just an excuses to p*ss away even more of our money.
“vegas”
2 stories.
1) The Barbary Coast, caught the house sending signals to a table, security brings me in a room, tells me to get out of the county, or ….
2) Got a nice death threat left for me in a vegas room. debated about calling the police, so i did. police said “if i was you, i wouldn’t file a report”
nice, glad to see the police care.
SAS
3B
assuming it is a credit and not a loan then my wife and I make enough so that it would be ….interesting.
I am considering the idea of purchasing a home from a business perspective, not an investment or personal one.
but, vegas has been sanatized alot.
SAS
SAS
best way to get ride of a body???
Apparently, congress concluded food stamps are the most effective form of economic stimulus because they argued that for every $1 in food stamps spent that $1.73 is pumped into the economy. Can they do me a favor and mail me a couple millions worth. I’ll jump start this economy.
dont really need to know…. just thought it might provoke an interesting story… ;)
Jeff Jacobs says he is prepared to speed up his plans to move out of his Westerville, Ohio, condominium and into a larger home with his wife and 7-month-old daughter. But the 28-year-old urban planner isn’t sure he would be able to qualify for a loan after losing his job late last year, and he wonders if he could sell his three-bedroom condo. “If the credit comes along, maybe we could get some buyers in here,” he says.
WSJ.
I love this letter that was sent to patrick.net:
Perhaps Economists Should Be Picking Vegetables
Greetings Patrick,
When San Joaquin Valley houses were selling in the half million dollar range,
my parents were just about to give up on California and move to Texas. This
summer, they purchased a house in Los Banos, CA for about a third of what it
appraised for in 2005. They have just purchased another house in the same
neighborhood (1500 square feet) for $109,000. They are now the proud owners of
TWO desirable suburban houses-free and clear, no mortgage. By the standards of
my peers, they are doing great. They managed to do this by dilligently saving
over many decades. My father is a ranch foreman with no formal education. My
mother was lucky-she made it to the second grade. It was abundantly clear to
them that the housing market was insane and due for a catastrophic collapse
based upon the anecdotal evidence they saw around them,i.e., half million dollar
homes in places where people are lucky to make $10/hr. If you are an economist
and did not see this coming, you should seriously reconsider the value of your
education and maybe do something with a tangible value to society, like picking
vegetables.
Sincerely,
Efrain Rojas
“THE real-estate market is such these days that one thing has become apparent: If some one is selling in this market, it’s usually because of the 3 D’s: death, divorce or debt” – Donald Trump on his blog.
– page 6
3b – it appears as if the 15k IS a tax credit. if your tax bill is 10k, then you owe zero, and you roll 5k over to the following year.
if you’re sitting on the sidelines do you jump for the 15k? who knows. probably something tbd on an individual basis.
we already bought late last month when wells got us a 4.875 fixed rate (no points), so we’re moderately excited about the 15k.
yikes (101)-
The “3Ds” have been around forever.
Trump is a fraud and a piker. Hell, he’s tapped out too.
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