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Reply #33: Speculation.... [View All]

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Home » Discuss » Archives » General Discussion (01/01/06 through 01/22/2007) Donate to DU
sendero Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-28-06 05:16 PM
Response to Reply #31
33. Speculation....
.... speculation and more speculation. When the cost of money is almost nothing, and requirements for a loan almost nonexistent, there are just a bunch of folks who cannot resist rolling the dice.

And speculators unfortunately are not just folks who are "investors" hoping to flip a house in a few months and make some $$$, it is regular folks who get sold on the absurd idea that it's ok to buy a house with an ARM when rates are at historic lows, or to buy with no down or to buy with an "interest only you pay me forever" loan - all in the absurd assumption that prices will rise indefinitely.

It's sad, but it's also very predictable and I know I'm a bastard for thinking it but most of these folks have made really stupid decisions and now they get to pay, along with everyone else. It sucks all around.
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  -The "danger years" for homeowners LunaC  Mar-28-06 03:46 PM   #0 
  - In Hartford, they've reduced the size of newspaper Foreclosure ads...  Atman   Mar-28-06 03:48 PM   #1 
  - only for stupid people who take risky mortgages...  Dem Agog   Mar-28-06 07:12 PM   #42 
  - They knew what they were getting into.  dubyaD40web   Mar-28-06 03:48 PM   #2 
  - And that's easily increased with increased bullshit tax valuations  lonestarnot   Mar-28-06 03:50 PM   #3 
  - Did they? The realty and mortgage banking industry pushed the  Iris   Mar-28-06 03:51 PM   #4 
  - Yea...you are right ....I am in the Seattle area and  MadMaddie   Mar-28-06 03:54 PM   #5 
     - Funny about the curtains.  CrispyQGirl   Mar-28-06 04:04 PM   #11 
     - It's the little things.....that you notice...  MadMaddie   Mar-28-06 04:33 PM   #16 
        - Wow--I've seen that, too--  bliss_eternal   Mar-28-06 05:04 PM   #28 
     - Not to mention the zoning laws and the builders  gratuitous   Mar-28-06 04:57 PM   #26 
     - Reminds me of a friend of mine with 3 sons.  Iris   Mar-28-06 05:07 PM   #30 
     - starter and empty-nester homes are going gangbusters here near Houston  elehhhhna   Mar-28-06 05:50 PM   #34 
     - I'll agree with you on that.  sentelle   Mar-28-06 09:59 PM   #47 
  - Yeah... my county assessment went up by $100K this year  thecrow   Mar-28-06 03:54 PM   #6 
  - Right back at you!  LostinVA   Mar-28-06 04:42 PM   #19 
  - "Forty-three percent put down no money at all"  wicket   Mar-28-06 03:54 PM   #7 
  - O down....yea it's going to be a huge forclosuer mess....  MadMaddie   Mar-28-06 03:58 PM   #8 
  - Even worse 25% interest only loans, and more than 1/2 adjustable  BR_Parkway   Mar-28-06 04:35 PM   #17 
  - Home-ownership is not for everyone  dbackjon   Mar-28-06 03:59 PM   #9 
  - why shouldnt there be a deduction for mortgage interest?  pimpbot   Mar-28-06 04:21 PM   #14 
  - Why should you get a deduction and people without a mortgage..  harpo   Mar-28-06 05:06 PM   #29 
  - Of course there should be -- why take away the upper lower and  LostinVA   Mar-28-06 04:45 PM   #21 
  - I disagree with that last statement  CAcyclist   Mar-28-06 05:02 PM   #27 
  - I agree with you...no more mortgage deduction...quit encouraging borrowing  harpo   Mar-28-06 05:12 PM   #32 
  - I had the same reaction when I drove past one of those 0% down signs  Lars39   Mar-28-06 04:01 PM   #10 
  - No-interest down loans are okay  LostinVA   Mar-28-06 04:44 PM   #20 
  - my neighbor had his house foreclosed on due to home equity loan  harpo   Mar-28-06 04:05 PM   #12 
  - I understand the "danger years" because...  TreasonousBastard   Mar-28-06 04:09 PM   #13 
  - I knew that I'd see this posted today  brmdp3123   Mar-28-06 04:22 PM   #15 
  - Meaning??? Is the "glass half-empty" thinking on CNN or on DU?  KrazyKat   Mar-28-06 04:46 PM   #22 
  - If it were half-empty...  sendero   Mar-28-06 04:50 PM   #23 
     - It happened during another republican admin.  bliss_eternal   Mar-28-06 05:09 PM   #31 
     - Speculation....  sendero   Mar-28-06 05:16 PM   #33 
        - Yes...  bliss_eternal   Mar-28-06 05:53 PM   #35 
           - Fear and greed..  sendero   Mar-28-06 06:20 PM   #37 
              - I gues that is why the real estate seminars  bliss_eternal   Mar-28-06 06:26 PM   #38 
              - Not to mention all of the..  sendero   Mar-28-06 06:36 PM   #39 
                 - I didn't realize it,  bliss_eternal   Mar-28-06 07:15 PM   #43 
              - No sympathy here for the greedy....  Ragazz68   Mar-28-06 09:23 PM   #45 
     - It happened in Texas to the Mobile Home industry in the early 80's  Horse with no Name   Mar-28-06 06:50 PM   #40 
        - Wow--sounds like a huge mess...  bliss_eternal   Mar-28-06 07:11 PM   #41 
  - 30-year fixed, 5.5%, baby.... house payment lower than rent  LostinVA   Mar-28-06 04:39 PM   #18 
  - We pay $1450 for rent. Housing prices dropped 10% last year.  joeunderdog   Mar-28-06 08:40 PM   #44 
  - I am so glad I have a fixed rate mortgage!  debbierlus   Mar-28-06 04:52 PM   #24 
  - I put 20 percent down on my houses, and got fixed rate loans.  tjwash   Mar-28-06 04:55 PM   #25 
  - China owns most mortgages now  soothsayer   Mar-28-06 05:55 PM   #36 
     - ARE YOU SERIOUS?? I had no idea  spooked   Mar-28-06 09:51 PM   #46 
 

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