I dont hate poor people, I hate stupid people.

The whole deal does piss me off. I bought a house that was very modest that I can easily afford... Just so I'd know I'd never have this kind of issue. Now, thanks to all the stupid people that have an income of $40k buying a $300k house, MY tax dollars are going to step in and encourage thier stupidity. I was responsible, what do I get? the shaft apparently.

I had some freind in this situation. They complained about how they could not afford their house, together they made less than me and had a much bigger place... they continued to buy useless crap at walmart until the day they got kicked out of their house! Give these people some help, and then they will go of to buy a new hummer, on my dime.

I just want them busted down, cheaper houses for my pickings :) Almost bought a house earlier for 350, now its at 325, Ill wait till im in the safe 300's before I buy. (we want a mortgage that my g/f and I can each handle invidvidually if one of us looses our jobs)

A 800sq/ft condo in Vancouver would cost around 450K to start and if you gotta live in downtown Vancouver,they start off at 650K(depending where it is,and if you want a view of the ocean than it's more).

That's one shitty thing about the American economy going down,cause ours shot through the roof when that happened.

meg and I looked at a house a year ago at 395. Said it'd be a good buy at 320 but the realtor chuckled. Now it's 310 and still not sold. Ha.

For shitsngiggles I signed up for a "how to buy foreclosures" class at the local college.

Sheesh. Even today, $400k will just barely get you into a smallish condo out in San Marcos, and a proper 3 bedroom home in Carlsbad (on a postage-stamp sized lot) is more like $800 - $900k.

A 5 bedroom house on a corner lot 2 blocks away from me just sold for 1.1 million!

The price of house's are just getting fucking insane here.

The fucking olympics is to blame for most of this shit.

I think I'm being overly conservative in my house-hunting. Oh well; maybe some desperate "investor" will need to unload their "flip" house right where I'm looking for cheap.

my sister just got a bad ass 2400' house in Plano with 3 bedrooms, a pool, and 2 car garage for $185k. Its a nice part of town too.

I just invested some cash into a flip in Dallas. Hopefully I won't get fucked.

haha 2 blocks from me is michael jordan's house im still not buying above


Highland Park Il has double the median household income of sans marcos. I cant find information on the housing.

Actually it's not the "poor" people who caused the subprime mess, it's the "semi rich" people who bought investment properties and pushed the rediculous house prices who are to blame. From what I read there's no proposals to help them out.

Loki,Michael Jordan has a house here too,along with Shaq o'neal,Oprah winfrey($15 million on a small private island just off the coast of Vancouver),Jean Claude Van Damn($40 million two story penthouse in downtown Vancouver) Robin williams,David lee roth,Phil collins and many many other celebs to name.

Biggest problem is that regardless of whether people were stupid/poor, if there is a bailout, #1 it'll certainly come from our tax dollars and #2 if you bail these people out, they'll continue to make stupid decisions and expect to get bailed out again in the future. We'll never learn.

Actually that is a very valid point. Upper middle class people have been able to finance very expensive homes that would typically be out of their price range because of the super low rate ARMs and easy qualification. Builders couldn't pump out these homes fast enough. Now that rates are going up and financing is tightening, there are tons of unsold new homes on the market. When the economy slows down, construction slows down, which slows down the economy even more.

Of course, getting into a house you can't afford based on hopes, dreams, and wanna-be status is STUPID.

MJ also has a house kind of near me, in Waterfalls Country Club. His neighbors include Truitt Cathy and Neil Bortz. I did a lot of work in that neighborhood. BIG MONEY. BTW, Truitt Cathy flies in and out in a cow-spotted helicopter. Very cute.

Wow i was really hoping you would see the futility of doing this. EVERY PLACE HAS RICH PEOPLE!! EVERY PLACE HAS POOR PEOPLE!! SO SHUT THE FUCK UP ALREADY!

I know every place has poor people and rich people,so don't tell me to shut the fuck up.

You try to be nice to people and this is the shit you get.fuck off loki.

Voluntary? hahaha.

I think this is just election year BS. Who's really holding the bag here? Not the folks who bought an overpriced house with zero down, that's for sure. It's the lenders (who created the goofball loan products in the first place) and investors (who fund or buy the loans). Nobody's going to seriously propose that the government bail out the mortgage industry and investors.

Prices have another 10-15% to drop. Watch and wait and stack ya chips up, then you can afford 20% down just like a grown up.

im thinking about getting a condo or small house in next couple of years when prices drop. there should be 20-30% price drop on real estate in los angeles by end of next year or maybe mid 2009

Bush doesn't have to do it. It's 100% Clinton that's pushing it. They probably expect it to be damaging to the Democrats if they get elected into office and have to fix their own stupidity.....but I expect the next plan for us to voluntarily allow illegals to sleep in our beds and wash them with sponges for the next 4 years....

While that is true, amazingly the rate of new-home construction has not slowed very much in this area. While the zero-down, interest-only mortgages are no longer being actively promoted every time you turn on a radio or look at a billboard, people are still finding ways to finance homes, and builders are still clearing land and erecting cookie-cutter neighborhoods.

In the area where I live (coastal northern San Diego county) home prices seem to have stabilized, but I don't really think they've dropped much.

The thing that really gets me about housing transactions out here isn't so much the actual prices themselves, but the realtor commissions. Sellers can still expect to pay the usual 6%, despite the fact that 6% of a million and 6% of 250k are very different commissions for what amouts to the same amount of work on the part of the agents. I can tell you that everybody else in Carlsbad is not making 4x the salary of their equivalent counterpart in Dallas.