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Why you ask do things continue to get worse while the "experts" say the worst is behind us? Well I (and all of the other people who say we have a couple years of bad housing news) look at things like this graph here of interest rates being reset on loans. The light green are subprime loans which reset at much, much higher rates. Often two to three times, so imagine your monthly rent doubling or tripling! How long would you be able to hold on to your house?

What "expert" would look at this and say the worst is behind us? A cheerleader for the mortgage industry, a company hack who just wants investors to keep their cash in a sector that is bleeding money. Sadly, often its the same people who support these hacks who own the papers, so we see their "predictions" all over the place while real experts remain obscure and publish their predictions in academic or activist publications. It's really a sad state of affairs.

The interesting thing about the timing you see on this graph is that it suggests that the peak of resetting will happen right around the November election, and since it often takes people about 6 months or so to actually fall into foreclosure after the rates have gone up, whoever is elected president will find foreclosures peaking in their first year in office then dropping. So whatever they do or don't do, they will probably take credit for the sudden turnabout, but as you can see it is quite predictable and really much too late for any policies to really help outside of foreclosure prevention schemes that would cost the government way more money that it has, or would want to spend. I would also guess that if you are looking to buy a house, you might want to wait until late 2008 or even better after summer of 2009. After that the drop in home prices will probably just stagnate rather than rapidly fall much further as foreclosures will even out.

Home Sales Plunge by 8 Percent
Wednesday October 24, 10:19 am ET

By Martin Crutsinger, AP Economics Writer
Sales of Existing Homes Fall by Largest Amount on Record in September
WASHINGTON (AP) -- Sales of existing homes plunged by a record amount in September as turmoil in mortgage markets added more problems to a housing industry in its worst slump in 16 years.
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11th-Sep-2007 07:50 pm - Hello!
Hello! I found this community through mutual interests, and I'm excited to read through it. I also started a new community recently - ourlovelyhomes - and would like to invite everyone to post pics of your homes, design projects, and landscaping ideas! I cannot wait to get some ideas for my home. I've already done some remodeling, but have a lot of work left to do!
23rd-Aug-2007 02:59 pm(no subject)
Look at who your neighbors are before you move:

21st-Aug-2007 09:28 pm - Недвижимость в ОАЭ
Если кто-нибудь интересуется недвижимостью в Обьединенных Арабских Эмиратах -как отдельно взятыми проектами, так и целыми комплексами вроде Dubailand, то прошу сюда:

12th-Aug-2007 04:46 pm - House Buying for the young.
batshit crazy, cartoon CRAZY
My fiance and I are going to be getting married in May of next year, and we have been discussing buying a house/townhome just before hand. (Yes, to preface we are totally crazy.)

Now I am insanely insanely lucky in that I am going to be able to flat out buy this house/townhome due to money given to me by my grandfather when he passed away. I am thankful for this, as we are not necessarily pulling in a lot of money through out the year but we can afford to pay our apartment and its utilities each month and I think it is good enough that we will work out. (He is a manager, I am a part time teacher/student.)

Then I talked to my mom. Who effectively has made me feel three inches tall and six years old all over again. "You can't afford to live in a house." "What if things go wrong, you won't be able to afford it!" and essentially giving me a panic attack. Now I am full of doubt.

Barring the mortgage (that we won't have), what goes into home ownership that I am apparently missing and crazy for not taking into account. Homeowner's insurance and taxes we have taken into mind, but is there something else I am missing? Would having a Townhouse rather than a Home change and/or help with this?

Thank you so much in advance.
10th-Aug-2007 09:58 am - Champions Tower III, Dubai, UAE
Champions Towers Advert

For more information, please visit Yaar Properties review blog
13th-Jun-2007 05:15 pm - FSBO 101
Have any of you tried to sell your home By Owner or know someone who has? I would love to hear some feedback on this. Our house has been on the market since April 2nd and our contract with our Realtor expires on the 4th of July. What are your thoughts?
Please delete this post if it is inappropriate.
31st-May-2007 06:49 am - Carpet to Hardwood?
Flabergasted Cheetara
My husband and I own a 1 bedroom condo at a nice neighborhood. The carpet is ok, with a few small tears and some wear here and there. We are planning on moving in a couple of years and selling it but we want to tear out the carpet and lay down some pre-finished engineered hardwood flooring.

My question is, will this appreciate the value of our condo at all? We hope to make back some of the money we spend on the remodel.

Thanks in advance to anyone who can offer information.
22nd-Apr-2007 10:54 am(no subject)

I'm new to the commuity, and I have a question - 

My partner and I are DESPERATE to move from our current home - we're very interested in more 'country living'.  

So - 

Could anyone give me advice about renting our current home and then purchasing another?  Our current home is relatively old, but in pretty good shape.  It's a corner lot with a brand-new privacy fenced back yard and large front yard....great landscaping, etc.......

We're looking into this option because we've tried to sell several times with no takers.  Plus, this would be a small additional amount of income.  I know we need to be very careful about who we rent to and whatnot.....I was just wondering if anyone knew anyone who has (or is) doing this and how it's working out.  

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