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October 17, 2008

Comments

Cheryl Hanron

Dick,
What seems to be lacking in all of the stories I hear & read is the artificial prices of homes that were forced up by the developers on a continuing basis. One of the largest new home developer in the USA was using this technique on a regular basis.
I was a new home subdivision sale associate for a different developer during the HOT period a few years ago. I came out of many a sales meeting shaking my head when the Sales Mgr had just finished putting the pressure on us to Sell, Sell, Sell. Pressure to "Buy Now before the prices go up again!" was the battle cry!
At the peak, California had only 18% of the population that could afford these prices!
The Mortgage Lenders were forced to modify their lending policies in order to do any business. They figured the safty was in the value of the property. Is there any culpability of Developers?
Maybe now the Lenders will hold the line and push back at the developers.
It has ruined the Real Estate business. In order to sell we must do "short sales" and wait 30 to 60 days for response to offers. If you get one at all. The commissions have been reduced drastically and the paperwork has increased dramatically!
I think it might be time for Realtors to be paid by the hour like attorneys instead of commission.

John Rowe

I am having difficulty maneuvering to the proper blog response. I am replying to the note by Dick about reeating regurgitated food. What picturesque language! It was one of those phrases that left me looking at my back fence with a can of beer for a half hour.

My comment:
Paulson has jerked funding for the purpose of buying toxic assets for our financial institutions and has instead decided to put money into equities, e.g. preffered stock or common stock.
What has changed? Either way, the money appears on the asset side of the balance sheet?
Thank you for all, Dick.

JonathanOZ

Beautiful! :-)

spaarzeker verzekering

This is a great stuff I know, it refreshes mind and soul. Thanks keep going like that

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