Vultures descend on mortgage market

re: Vultures descend on mortgage market

dbellis — Sat, 13 Jun 2009 02:59:23 GMT

I was starting to think I was the only one calling "bull-dunkey" on all the affordable housing that is available. I sold a condo at the top in San Diego and I am still priced out of any houses that are decent. The media makes it sound like homes are being given away, however, it is not true in desirable areas. Home owners should be very happy that the government has kept these home values from falling to realistic levels. The average family can still not buy a home anywhere near the city in San Diego -- at least nothing in a decent area. A twenty percent discount after years of twenty percent gains is of little help. Foreclosed homes in good condition are flying off the shelves here. The price is being driven up beyond list and the vultures are gobbling up everying that is of any quality. The media loves to spread the bad news because it sales and people eat it up.

re: Vultures descend on mortgage market

Jeff — Fri, 12 Jun 2009 18:48:40 GMT

Sorry "t", but I don't think most parts of Michigan (and Ohio for that matter) will ever recover from this financial poop storm. Numerous Michigan cities, like so many others who put all of their chips in one basket, will be tumble weeds and ghost towns soon....stuff movies are made of. They have few other industries capable of sustaining their population. They can't all change course quickly enough to take care of their people, it's just not physically possible. Sad, but true.

Re-train, Re-Tool, Re-Establish

re: Vultures descend on mortgage market

Mr. T — Fri, 12 Jun 2009 15:22:43 GMT

When the housing market was at it's peak, many towns, cities, and local governments re-accessed the values of our homes. I wonder if they will be as quick to re-access my property now that it's value has droped in half?

re: Vultures descend on mortgage market

peasants — Fri, 12 Jun 2009 14:14:59 GMT

when are we the people going to address the domestic terrorist organization known as the IRS ? Lots of good people work there but the disfunctionality is comical if it didn't ruin so many lives. Everyone lives in fear.

re: Vultures descend on mortgage market

John — Fri, 12 Jun 2009 02:01:11 GMT

Once again it shows the government shouldn't have butted in the market in the first place. Let businesses that lose money fail and don't waste cash proping them up. What the government is doing is prolonging the pain. We would have had a shaper recession if the government butted out but it would also be shorter. The market would clear at the price that it needs to be at and life would go on and we wouldn't be out trillions of dollars.

re: Vultures descend on mortgage market

Alexis — Fri, 12 Jun 2009 01:08:16 GMT

I am glad that people are waking up to the realities of our situations caused by this new administration. Put your seatbelt on - it's gonna get a lot worse.

We have to pay attention to what "the annointed one" is doing with our money.

Get involved - join groups - maike your voices heard.

re: Vultures descend on mortgage market

Jake The Snake — Fri, 12 Jun 2009 01:03:43 GMT

Spend beyond your means. I do! :)

re: Vultures descend on mortgage market

Charles D. — Fri, 12 Jun 2009 00:21:41 GMT

I don't want to be a posthound, but I just had a thought related to the auto industry near demise and the need for affordable and quick-move-in housing throughout our nation especially in the auto states ie.: Mich.;

Why not make it a part of the national adjustment and Requirement for the GM, Chrysler struggling corporations to provide reduced or waived rentals for those losing their jobs after a certain length of service, Possibly using the buildings and land where the dealerships are being Told to close in our cities. It just isn't happening on Main Street....It is all around us on every corner. GM has some of the most beautiful cars on the road, you know them....Chrysler, Dodge ahhh the Charger- the same; Ford is holding their own and must have a good strategy. It had to be

Corporation Management that sunk the two first mentioned companies. The assembly workers and the office personnel, the parts people, the sales and service people, porters, receptionists, and even the owners of the local dealerships--are taking the brunt of Detroit and surrounding( once mecca)

industry corporate towers' top floors CEO's and CFO's errors and misdeeds.

Our Electronics/Appliance Industry, Our Data, IT manufacturers, Our Service and Telecommunication personnel losing their jobs to outsourcing, and now The American two Automobile Giants of the Industry on shaky ground-- God Help U.S.

re: Vultures descend on mortgage market

Charles D. — Thu, 11 Jun 2009 23:49:55 GMT

Dear President Obama, and the Mortgage Initiative keyplayers:

I hope you and your cabinet are fully aware of this news as if we are surprised.

You assured the people of this country Transparency....Is this what we are supposed to see through transparency? I voted for you as did my wife. We need

a "lasting" home for our golden years, but who would venture out with any mortgage lenders with this kind of "vulture" mentality, spending the special funds

and "bailout" money to "do unto the borrowers" what they wish. I am not following your speedy methods of meeting with the people at the townhall meetings and then seeing this, how everything seems to be as confusing as ever.

I know you mean well, but more substance has to be put into these efforts to

equitably heal the real estate, and mortgage markets and to insure honesty in

lending without the same old "predatory" style business the US is now known for.

Didn't Rome make this tragic mistake? More tax credits for new home buyers and

middle income families still waiting for their stimulus "effect" to change their woes

a little. The young families with little children seem to have the worst hurdles to

jump, unless you, Mr. President, deliver on that major plank on your running platform. In all respect, sir, go back to your list. God Bless U.S.

re: Vultures descend on mortgage market

matt — Thu, 11 Jun 2009 23:47:17 GMT

Christina, i get your point and I agree with 99% of you feelings/views.. us responsible people are not the ones in trouble right now.. but we will be !! I can assure you that !!! that is what kills me, and makes me so damn mad !!