jbenko_IHB
New member
If only the housing market could correct like the stockmarket. Not that the stockmarket is corrected but it sure finds its true value really fast. It slowly trickled down in value over a year and then over the past month or so we have seen blood.
Home prices have been trickling down as well, but no signs of blood. It will come though. I'm just tired of seeing it drag out for an eternity and tired of seeing inflated prices.
Banks need to mark to market, but they are waiting for our government to buy them off at inflated prices passing the burden. So does that mean our government will mark to market? Or will they hold inflated securities for 30+ years until they break even/take a small loss. Well, now that I think about it with inflation they are taking a loss no matter what. So why not just end the pain and unload them them for what people will actually pay. Then we can know where we stand and buying healing can start.
Cause if they don't then we have to sit around twiddle our thumbs and wait for inflation to erode value of homes, which can take some time.
Kinda frustrating...but my cash isn't giving in until Irvine's income to home ratio is between 3.5-4.4 as it was between 1980-2000!
Your thoughts?
Home prices have been trickling down as well, but no signs of blood. It will come though. I'm just tired of seeing it drag out for an eternity and tired of seeing inflated prices.
Banks need to mark to market, but they are waiting for our government to buy them off at inflated prices passing the burden. So does that mean our government will mark to market? Or will they hold inflated securities for 30+ years until they break even/take a small loss. Well, now that I think about it with inflation they are taking a loss no matter what. So why not just end the pain and unload them them for what people will actually pay. Then we can know where we stand and buying healing can start.
Cause if they don't then we have to sit around twiddle our thumbs and wait for inflation to erode value of homes, which can take some time.
Kinda frustrating...but my cash isn't giving in until Irvine's income to home ratio is between 3.5-4.4 as it was between 1980-2000!
Your thoughts?