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rts551
Elite Nomad
Posts: 6699
Registered: 9-5-2003
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Ya. You guys are right. Lets ruin another good post with political hogwash
| Quote: | Originally posted by Barry A.
| Quote: | Originally posted by Bajaboy
| Quote: | Originally posted by capt. mike
they're selling fine. just below what it costs to build new.
this was a fall out of the sub prime mtg mess which Fannie and Freddie allowed to happen.
it caused a bigger boom in 2006 for the sun belt than other parts and so we got the worst of the fall out.
Banking oversight did not happen. that is what started the tankage.
then they started with all the help, saving AIG for starters.
from there it only got worse plus the ARAR and the TARP funds BS.
nearly 15 trillion in debt we are.
better start learning Mandarin. |
so in other words, the values were overstated and now the market is correcting that mistake....sounds very capitalistic to me...
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It IS Capitalistic------finally. But all these girations and people losing their homes was NOT necessary since many should not have been in their
homes to begin with. Capt. has it right!!!! IMO.
EVERYTHING is poliltical, these days-----and I hate that.
Barry |
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Bajaboy
Ultra Nomad
Posts: 4375
Registered: 10-9-2003
Location: Bahia Asuncion, BCS, Mexico
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Back on the topic of Papa Fernandez, do Larry and Marie still have places there?
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David K
Honored Nomad
Posts: 64547
Registered: 8-30-2002
Location: San Diego County
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Mood: Have Baja Fever
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Barney Frank and Chris Dodd blackmailing banks to loan money to unqualified borrowers (the crazy lib notion: Everyone has a RIGHT to own a house) is
the ROOT of the collapse of America today...
Never ever give the left the House and Senate together... then 2 years later the White House, too!!! Sure, we 'fired' the Republicans because they
were spending like Democrats without a veto from George Bush... but Hey-Zeus, electing liberal democrats are like pouring gas on a fire that liberal
republicans allowed to get started.
Checks and Balances out the door, and we are in the red for how long because of that??? A conservative like Reagan can turn it around (he did in 2
years after inheriting a far worse economy left us by Jimmy Carter and a democrat congress).
Vote Conservative, regardless of the letter next to the name! 
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capt. mike
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Registered: 11-26-2002
Location: Bat Cave
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Barry - yes you get it. Others do not.
The values were fine and in a normal market range tied to good growth which was real - not inflated.
Then you let all these people get into mortgages they can't afford for homes that they can't afford and then boom - the supply reacts and all of a
sudden everyone wants to flip and move up the brick ladder. This house of cards crumbles and soon 1/2 the homes are worth less than the paper tied to
them all at inflated non realistic $$s. This is called "under water" But - in the back ground all the worthless paper is packaged into CBMS and
floated on the market at the next level. Result? - everything starts tanking on a chain reaction and you get the recession/depression woes we have
now.
Had lending been properly controlled and monitored the sub prime loans would not have gone through. Even the so called appraisers were winking because
deals were happenijg so fast they'd use those invalid comps and the approvals kept happening.
This was NOT a market correction - it is a market catastrophy.
Look how much your home was worth in 2005 or 6 and compare to today.
What have you lost? Maybe you don't care. Maybe you didn't have nice real estate. I did and still do. and IF i had a better market position i could
buy this bahia place or any one like it for frickin cash and go have a good time.
so yeah..... USA values ARE affecting Mexican RE deals. And so it is a buyers market.
formerly Ordained in Rev. Ewing\'s Church by Mail - busted on tax fraud.......
Now joined L. Ron Hoover\'s church of Appliantology
\"Remember there is a big difference between kneeling down and bending over....\"
www.facebook.com/michael.l.goering |
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rts551
Elite Nomad
Posts: 6699
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Its what you get with deregulation
| Quote: | Originally posted by capt. mike
Had lending been properly controlled and monitored the sub prime loans would not have gone through. Even the so called appraisers were winking because
deals were happenijg so fast they'd use those invalid comps and the approvals kept happening.
This was NOT a market correction - it is a market catastrophy.
Look how much your home was worth in 2005 or 6 and compare to today.
What have you lost? Maybe you don't care. Maybe you didn't have nice real estate. I did and still do. and IF i had a better market position i could
buy this bahia place or any one like it for frickin cash and go have a good time.
so yeah..... USA values ARE affecting Mexican RE deals. And so it is a buyers market. |
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Cypress
Elite Nomad
Posts: 7641
Registered: 3-12-2006
Location: on the bayou
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Mood: undecided
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They put buying a home on the same level as buying a used car. Co-signer? Yep! The tax payers.
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bufeo
Senior Nomad
Posts: 793
Registered: 11-16-2003
Location: Santa Fe New Mexico
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| Quote: | Originally posted by Bajaboy
Back on the topic of Papa Fernandez.... |
Good luck with that.
Allen R
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Bajaboy
Ultra Nomad
Posts: 4375
Registered: 10-9-2003
Location: Bahia Asuncion, BCS, Mexico
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| Quote: | Originally posted by capt. mike
Barry - yes you get it. Others do not.
The values were fine and in a normal market range tied to good growth which was real - not inflated.
Then you let all these people get into mortgages they can't afford for homes that they can't afford and then boom - the supply reacts and all of a
sudden everyone wants to flip and move up the brick ladder. This house of cards crumbles and soon 1/2 the homes are worth less than the paper tied to
them all at inflated non realistic $$s. This is called "under water" But - in the back ground all the worthless paper is packaged into CBMS and
floated on the market at the next level. Result? - everything starts tanking on a chain reaction and you get the recession/depression woes we have
now.
Had lending been properly controlled and monitored the sub prime loans would not have gone through. Even the so called appraisers were winking because
deals were happenijg so fast they'd use those invalid comps and the approvals kept happening.
This was NOT a market correction - it is a market catastrophy.
Look how much your home was worth in 2005 or 6 and compare to today.
What have you lost? Maybe you don't care. Maybe you didn't have nice real estate. I did and still do. and IF i had a better market position i could
buy this bahia place or any one like it for frickin cash and go have a good time.
so yeah..... USA values ARE affecting Mexican RE deals. And so it is a buyers market. |
So are you saying there should have been more regulation of the lending/banking industry
Our place in San Diego has tanked since 2005 but in all honesty, I think houses are priced a little more realistically now. So yes, this is a
correction. Prices were way out of whack.
We are currently trying to buy another place at the moment but the banks are not lending even though they have butt loads of cash. Prices will remain
stagnant until people can get out of their current mortgages. Too many people are underwater and until this fact is addressed the housing mess is
with us for a long time.
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Ken Cooke
Elite Nomad
Posts: 8923
Registered: 2-9-2004
Location: Riverside, CA
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Mood: Its Pole Line Road time
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| Quote: | Originally posted by David K
Vote Conservative, regardless of the letter next to the name!
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But, what about social issues? I personally do not agree with conservative politicians for this reason. Never will.
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mtgoat666
Select Nomad
Posts: 17425
Registered: 9-16-2006
Location: San Diego
Member Is Offline
Mood: Hot n spicy
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| Quote: | Originally posted by capt. mike
Barry - yes you get it. Others do not.
The values were fine and in a normal market range tied to good growth which was real - not inflated.
Then you let all these people get into mortgages they can't afford for homes that they can't afford and then boom - the supply reacts and all of a
sudden everyone wants to flip and move up the brick ladder. This house of cards crumbles and soon 1/2 the homes are worth less than the paper tied to
them all at inflated non realistic $$s. This is called "under water" But - in the back ground all the worthless paper is packaged into CBMS and
floated on the market at the next level. Result? - everything starts tanking on a chain reaction and you get the recession/depression woes we have
now.
Had lending been properly controlled and monitored the sub prime loans would not have gone through. Even the so called appraisers were winking because
deals were happenijg so fast they'd use those invalid comps and the approvals kept happening.
This was NOT a market correction - it is a market catastrophy.
Look how much your home was worth in 2005 or 6 and compare to today.
What have you lost? Maybe you don't care. Maybe you didn't have nice real estate. I did and still do. and IF i had a better market position i could
buy this bahia place or any one like it for frickin cash and go have a good time.
so yeah..... USA values ARE affecting Mexican RE deals. And so it is a buyers market. |
what a load of right wing BS nonsense! you all are crazzy to place all or a majority of the blame on govt! the majority of blame lies with many:
lenders and borrowers and middle men (mortgage brokers) and wall st that bought and sold mortgage paper like it was toy money.
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Ken Cooke
Elite Nomad
Posts: 8923
Registered: 2-9-2004
Location: Riverside, CA
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Mood: Its Pole Line Road time
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The face of FRAUD
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djh
Senior Nomad
Posts: 936
Registered: 1-2-2005
Location: Earth mostly. Loreto, N. ID, Big Island
Member Is Offline
Mood: Mellow fellow, plays a yellow cello...
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| Quote: | Originally posted by Bajaboy
Back on the topic of Papa Fernandez, do Larry and Marie still have places there? |
How about you self appointed know everything political experts take it somewhere else and let Doug sell his house with this simple thread.... (ie
sthu & take it to political or off topic fcol)
d
Its all just stuff and some numbers.
A day spent sailing isn\'t deducted from one\'s life.
Peace, Love, and Music
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cj5orion
Nomad
Posts: 336
Registered: 2-6-2010
Location: Pacific Beach/Gonzaga Bay
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Mood: time for a cervaza !!!
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this is a thread about a house for sale in baja !
Start your own political/banking/real estate/senator bashing thread !!!!!!!
Home Remodels/Builds..Recession!
Gone BAJA BUILDIN/FISHIN !
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DianaT
Select Nomad
Posts: 10020
Registered: 12-17-2004
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| Quote: | Originally posted by cj5orion
this is a thread about a house for sale in baja !
Start your own political/banking/real estate/senator bashing thread !!!!!!!
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Yes, very good idea.
I still am curious as to if this is leased or titled land? Does anyone know?
Thanks
[Edited on 11-11-2011 by DianaT]
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Bajaboy
Ultra Nomad
Posts: 4375
Registered: 10-9-2003
Location: Bahia Asuncion, BCS, Mexico
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| Quote: | Originally posted by DianaT
| Quote: | Originally posted by cj5orion
this is a thread about a house for sale in baja !
Start your own political/banking/real estate/senator bashing thread !!!!!!!
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Yes, very good idea.
I still am curious as to if this is leased or titled land? Does anyone know?
Thanks
[Edited on 11-11-2011 by DianaT] |
Leased from Papa Fernandez family...good people. \
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Cypress
Elite Nomad
Posts: 7641
Registered: 3-12-2006
Location: on the bayou
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Mood: undecided
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Ken Cooke, Yea. Social issues and politics are a bad mix.
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capt. mike
Elite Nomad
Posts: 8085
Registered: 11-26-2002
Location: Bat Cave
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Mood: Sling time!
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"So are you saying there should have been more regulation of the lending/banking industry"
No - not more. There were checks already in place - they just were not being enforced. Those charged with oversight failed in their duty.
This is a nice property. there - on topic.
formerly Ordained in Rev. Ewing\'s Church by Mail - busted on tax fraud.......
Now joined L. Ron Hoover\'s church of Appliantology
\"Remember there is a big difference between kneeling down and bending over....\"
www.facebook.com/michael.l.goering |
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Bob H
Elite Nomad
Posts: 5867
Registered: 8-19-2003
Location: San Diego
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How much is the yearly lease?
Looks like a great property for the price.
The SAME boiling water that softens the potato hardens the egg. It's about what you are made of NOT the circumstance.
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Juanita
Junior Nomad
Posts: 96
Registered: 8-31-2006
Location: San Ignacio, Baja California Sur
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Considering whose home this has been, the place will be one of the most ship-shape on the whole peninsula, and well-chosen for location.
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bufeo
Senior Nomad
Posts: 793
Registered: 11-16-2003
Location: Santa Fe New Mexico
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| Quote: | Originally posted by Juanita
Considering whose home this has been, the place will be one of the most ship-shape on the whole peninsula, and well-chosen for location.
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That's the truth.
Allen R
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