Irvine Housing Blog

People need to learn how to save and be quick to keep their income going.

No kidding.  These folks should be doing whatever it takes to keep their income going even if it means dressing up in statue of liberty costumes and whoring themselves rather than sitting around complaining.

When the recession hit, did this lady run and get the first job she could to keep money coming and completely shrink down her expenses to bare minimal?

Obviously this lady continued to live the high life.

Chances are she only looked for jobs that she didn’t think were below her and kept her cable tv.

Yes!  Yes!

If only she would have donned her lady liberty sooner rather than hold out for that Major League Baseball contract.

If only these people would quit with the $50.00 cable bills then they could pay their obscene mortgages.  Makes perfect sense to me!

Sell all your crap and don’t pay anyone for storage.

Exactly!  I noticed from the photos that she does still appear to have a shirt on her back.  Come on lady, sell it and quit whining.

IrvineRenter, in the future please do not waste my time with these stories unless the subject is lying dead, naked, in a gutter.

Thank you.

Yet another example of earn $1 -> spend $1.50

Anyone notice that article yesterday stating that by the end of 2011, the average time of non-payment in foreclosure status homes will rise to almost 24 months? You read that correctly ... 24 MONTHS WITHOUT PAYING A NICKEL toward a mortgage!!!

THAT is the real injustice of this whole mess. The former high and mighty pulled thousands outta their homes to buy Harleys (Heloc-Davidsons I call them), 24’ ski boats, loaded diesel pickups to pull the boats and ATV’s and $10K vacations in Vegas. Suddenly the banks (who are far from blameless in their collusion) had the temerity to demand these wanna-be’s pay back the loans. What nerve! So Joe Heloc-Davidson decides (conveniently) the bank somehow duped him into borrowing all that cash and he’s morally outraged and the bank isn’t going to get a nickel of his hard earned contractor income! In an aberrant quirk of fate this dirt bag gets to stay in his home, rent free for 2 WHOLE FLIPPING YEARS because the aforementioned banks are dragging their heels on foreclosure. So Joe Heloc-Davidson keeps spending cash like he won the lottery before (and if) the bank finally boots him out?! Where is the moral outrage against these people?

Meanwhile us renters don’t get anywhere near that kind of deal. 30-60 days without making a payment and the sheriffs at your door. I was one of the millions who lost their job thru no fault of their own. I was in telecom, making a good living, paying my bills on time, paid off nearly all debt, saving every month toward a downpayment on a home purchase. The economy tanks, the business cycle turns down and my company sent 30,000 people out the door. 18 months later I nearly exhausted the savings I had built toward my future, my measly unemployment comp was about to run out and I was facing the prospect of having to move my family to a smaller apartment to ensure we could make ends meet. I’m one of the lucky ones. I had savings to fall back on and I found a job. I make nearly $30K less a year than I did before but I consider myself very fortunate.

So I ask again, how is this fair? I did everything right ... or at least like I had been taught by my parents. You work hard, you save money, you buy a home and build your future. HAH! The jokes on me! Instead, what I should’ve done is buy an overpriced home I had no earthly hope of paying off, used the bank’s (taxpayer’s) money to finance vacations and $80K cars for my wife and I and when the bill came due ... declare myself a victim and dare the bank to kick me out ... after all it’s MY house, I’m entitled dammit!

I could’ve saved two years worth of housing payments, paid off everything else and stashed the cash. Then rented for 2-3 years after the bank kicked me out and set myself up for another home “purchase”. That’s the new American Dream kids.

“Just be the industry leaders and educate people on the right choice for their financial situation and future. The renters may be buyers someday eventually. Why not cultivate that potential?”

Sounds like the Ideal Home Brokers business plan.

“Some recovery in housing jobs is going to happen naturally anyway. Be patient.”

The NAr isn’t going to be happy until half the workforce is taking 6% from selling homes to each other at ever-increasing prices.

A drug dealer profits help support lots of other groups too!  Direct employments of the distrubutors, the producers, the transports, the police department, the restraunts, clubs, car dealers and all the auto related industries.  In fact the drug dealers are likely to spend put back a greater precentage of the profits back inot the economy.

Does not mean that we need more drug dealers on every corner?  The needs of a society are not determined by how much money a trade injects into the economy.

Lower housing prices are needed for a healthy economy, not higher prices.

Actual link:

http://online.wsj.com/article/SB10001424052748704476604576158452087956150.html

And yes, the “housing trade association” is the NAR.

“The group reported that there were 4.9 million sales of previously owned homes in 2010, down 5.7% from 5.2 million in 2009. But CoreLogic, a real-estate analytics firm based in Santa Ana, Calif., counted just 3.3 million homes sales last year, a drop of 10.8% from 3.7 million in 2009. CoreLogic says NAR could have overstated home sales by as much as 20%.”

“If they are off by this much, this consistently, it would be sending the wrong signal to the market,” said Mr. Brinkmann, MBA’s chief economist.