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| Topic: U.S. Housing Market... | |
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Underwater doesn't mean they dont have a home. It means they owe more than it is currently worth. Most likely that means they bought it not long before the bubble burst If they paid so little so far. I know... I was just thinking about all those who actually lost their homes too... and that the current homeowners who are already underwater might have to take the next step off the deep end and not be able to come back up. What then? Where do they all go? Why would they have to step off the deep end? Just because you owe more than your home is currently worth doesn't mean you can't afford your payments. You are making a very large assumption here. You're absolutely correct. When I think of these mass affecting issues my mind always takes in the entire scope. And I think of what will happen if our economy steadily weakens and those currently in homes might lose their jobs and have to move too. After all, it's not like we're really getting any good news about our overall economy being on the upswing and things are going to get better from now on. |
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The concept of being "under water" with a mortgage is really an artificial concept. As long as a home owner can afford the mortgage payments, then the person is still a home owner no matter what the current market value of the home is. Thank you for simplifying this particular "under water" part of the US housing market issues our country is currently facing since the bubble burst and so many Americans lives have been turned upside down. We can be thankful that many are still in their homes, and hope they'll be able to maintain what they have for years to come. Your life was only turned upside down if you bought a home you couldn't afford or buying investment properties. |
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Underwater doesn't mean they dont have a home. It means they owe more than it is currently worth. Most likely that means they bought it not long before the bubble burst If they paid so little so far. I know... I was just thinking about all those who actually lost their homes too... and that the current homeowners who are already underwater might have to take the next step off the deep end and not be able to come back up. What then? Where do they all go? I work in construction. We are building tons of apartments. They will be "renting" especially with how hard it is to get a mortgage these days. That makes sense. Homeowners getting downgraded to apartment renters. If I was really underwater I would just let it go. but luckily the market values are going back up again since there is less inventory on the market. But are there enough buyers with steady and adequate employment as well as the ready money to take advantage of whats available? buyers: yes buyers with 20% down: no buyers willing to pay higher for a home appraised for less: no as for david :) yea underwater is just a term that says you owe more on your home than it's currently worth. keep it if you can afford to make payments, don't if u can't. |
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Edited by
alleoops
on
Thu 05/22/14 11:00 AM
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and,thanks to Obama, we all now have affordable health care.
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Underwater doesn't mean they dont have a home. It means they owe more than it is currently worth. Most likely that means they bought it not long before the bubble burst If they paid so little so far. I know... I was just thinking about all those who actually lost their homes too... and that the current homeowners who are already underwater might have to take the next step off the deep end and not be able to come back up. What then? Where do they all go? I work in construction. We are building tons of apartments. They will be "renting" especially with how hard it is to get a mortgage these days. That makes sense. Homeowners getting downgraded to apartment renters. If I was really underwater I would just let it go. but luckily the market values are going back up again since there is less inventory on the market. But are there enough buyers with steady and adequate employment as well as the ready money to take advantage of whats available? buyers: yes buyers with 20% down: no buyers willing to pay higher for a home appraised for less: no as for david :) yea underwater is just a term that says you owe more on your home than it's currently worth. keep it if you can afford to make payments, don't if u can't. Will be buying a home when we have 20% down + another 20k or so nest egg in case of emergency. Yay for preparedness |
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Edited by
AthenaRose2
on
Thu 05/22/14 11:03 AM
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Underwater doesn't mean they dont have a home. It means they owe more than it is currently worth. Most likely that means they bought it not long before the bubble burst If they paid so little so far. I know... I was just thinking about all those who actually lost their homes too... and that the current homeowners who are already underwater might have to take the next step off the deep end and not be able to come back up. What then? Where do they all go? I work in construction. We are building tons of apartments. They will be "renting" especially with how hard it is to get a mortgage these days. That makes sense. Homeowners getting downgraded to apartment renters. If I was really underwater I would just let it go. but luckily the market values are going back up again since there is less inventory on the market. But are there enough buyers with steady and adequate employment as well as the ready money to take advantage of whats available? buyers: yes buyers with 20% down: no buyers willing to pay higher for a home appraised for less: no as for david :) yea underwater is just a term that says you owe more on your home than it's currently worth. keep it if you can afford to make payments, don't if u can't. So the sellers market has reached a stalemate right now because those with employment can't make the non-affordable adjustments to the rules currently in play? |
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and,thanks to Obama, we all now have affordable health care.
 me thinks this allegedly affordable healthcare scheme was in the making many, many seasons and moons before Obama was hand picked to be the spokesman and figurehead... 
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and,thanks to Obama, we all now have affordable health care.
me thinks this allegedly affordable healthcare scheme was in the making many, many seasons and moons before Obama was hand picked to be the spokesman and figurehead...
You mean thanks to Bill and Hillary? 
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Simple. The government now controls our healthcare so it will simply control our housing too.
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and,thanks to Obama, we all now have affordable health care.
me thinks this allegedly affordable healthcare scheme was in the making many, many seasons and moons before Obama was hand picked to be the spokesman and figurehead...
You mean thanks to Bill and Hillary?
Kinda looks suspiciously like a quacking duck to me...
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Simple. The government now controls our healthcare so it will simply control our housing too.
Also looks like a familiar cycle too... 
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Coming soon, "The Affordable Mortgage Act".
"If you like your home, you can keep it".
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Coming soon, "The Affordable Mortgage Act". "If you like your home, you can keep it".
I wouldn't be surprised if it actually happened. |
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Coming soon, "The Affordable Mortgage Act". "If you like your home, you can keep it".
They claim the Affordable Mortgage Act is what led to the bubbles crashing to begin with. And it didn't matter how much people liked the homes they couldn't really afford to buy in the first place, once the gig was up it was over. I can just imagine how high rent will be on the new apartment complexes being built to house those who were scammed by the AMA. Big money is going to stay big money regardless to how it affects the rest of us penny pinchers. |
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Coming soon, "The Affordable Mortgage Act". "If you like your home, you can keep it".
They claim the Affordable Mortgage Act is what led to the bubbles crashing to begin with. And it didn't matter how much people liked the homes they couldn't really afford to buy in the first place, once the gig was up it was over. I can just imagine how high rent will be on the new apartment complexes being built to house those who were scammed by the AMA. Big money is going to stay big money regardless to how it affects the rest of us penny pinchers. Sure you can blame the law that gives incentives to banks to loan to high risk people, but I prefer to shift that over to people who take bigger loans than they could afford. |
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Coming soon, "The Affordable Mortgage Act". "If you like your home, you can keep it".
They claim the Affordable Mortgage Act is what led to the bubbles crashing to begin with. And it didn't matter how much people liked the homes they couldn't really afford to buy in the first place, once the gig was up it was over. I can just imagine how high rent will be on the new apartment complexes being built to house those who were scammed by the AMA. Big money is going to stay big money regardless to how it affects the rest of us penny pinchers. Sure you can blame the law that gives incentives to banks to loan to high risk people, but I prefer to shift that over to people who take bigger loans than they could afford. I think "all" sides are equally responsible as they were trying to get something from nothing together yet separately. |
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Edited by
Sojourning_Soul
on
Fri 05/23/14 07:22 AM
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Until we abolish the FED, congress, the banks, wall street, our insider trading statesmen and the corporations will continue to prosper from bailouts for bad investments with the taxpayers footing the bill, losing their homes, jobs, privacy, rights, healthcare, and savings. Business as usual in DC with a liberal senate headed by the likes of Slimy Reid, an incompetent and corrupt AG, a bumbling Sec of State, and a lawless admin leading the charge! As Mark Twain famously stated: "There is no distinctly American criminal class - except Congress." 
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Coming soon, "The Affordable Mortgage Act". "If you like your home, you can keep it".
They claim the Affordable Mortgage Act is what led to the bubbles crashing to begin with. And it didn't matter how much people liked the homes they couldn't really afford to buy in the first place, once the gig was up it was over. I can just imagine how high rent will be on the new apartment complexes being built to house those who were scammed by the AMA. Big money is going to stay big money regardless to how it affects the rest of us penny pinchers. Sure you can blame the law that gives incentives to banks to loan to high risk people, but I prefer to shift that over to people who take bigger loans than they could afford. I think "all" sides are equally responsible as they were trying to get something from nothing together yet separately. That is like saying since the government allows you to buy a gun then they are equally responsible if you kill someone with it. I disagree. It is the individuals responsibility. You take out a loan it is your responsibility to pay it. No one else's. |
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Coming soon, "The Affordable Mortgage Act". "If you like your home, you can keep it".
They claim the Affordable Mortgage Act is what led to the bubbles crashing to begin with. And it didn't matter how much people liked the homes they couldn't really afford to buy in the first place, once the gig was up it was over. I can just imagine how high rent will be on the new apartment complexes being built to house those who were scammed by the AMA. Big money is going to stay big money regardless to how it affects the rest of us penny pinchers. Sure you can blame the law that gives incentives to banks to loan to high risk people, but I prefer to shift that over to people who take bigger loans than they could afford. I think "all" sides are equally responsible as they were trying to get something from nothing together yet separately. That is like saying since the government allows you to buy a gun then they are equally responsible if you kill someone with it. I disagree. It is the individuals responsibility. You take out a loan it is your responsibility to pay it. No one else's. Agree and I hate to admit it but it's for the best that homebuying rules have tightened. I bought my first home with no job. lol ridiculous. (before the crash) |
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That is like saying since the government allows you to buy a gun then they are equally responsible if you kill someone with it. I disagree. It is the individuals responsibility. You take out a loan it is your responsibility to pay it. No one else's.
I agree but we now live in an entitlement nation. They wanted it and voted for it. Now we have to live with it. 
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