Strategic default spreads like a virus

Dec 9th, 2011  
by IrvineRenter  in Library News

Astute Observations

Astute Observation by newbie2008
2011-12-10 08:34 PM

My crystal ball has the media and squatters getting Congress to over more bailouts and loan modifications, then forced principal reductions.  The banks will sue for the taking.  The govt will have a paper tiger defense and settle with reimbursement to the banks for the takings.  Happy crowd will be the politicians with the vote buying, the bought-off (squatters and media), RE industry and the banks.  The ones left holding the bag:  taxpaying renters and non-HELOC owners and lower and middle class children who will be stuck with the debt.  The latter won’t know what hit them.

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Astute Observation by Laura Louzader
2011-12-10 11:11 PM

$1.5 million for this fugly, tacky tract house is laughable, especially when you compare it to the lovely house you linked at 31 Jasper for $500K less. The rampant cheapness and intrinsic cruddiness is visible from every angle. Given what I’ve seen and read of Irvine housing on your site over the past few years, I’m guessing this oversized cardboard box will eventually sell for about $600K.

How did something as nice as the Jasper house get built during the rampage? Most of what went up in the past 10 years could be knocked down with no loss felt either by the foreclosure “victims” nor prospective buyers. The house on Jasper is a truly beautiful house, something I don’t see among your featured HELOCED and squatted-in ticky tacky McMansions very often. The price seems low, but I guess the ownership is realistic and is serious about selling. Please keep us posted on that listing, because I will be very surprised if it lingers on the market for more than a couple of months at this price.

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Astute Observation by SanJoseRenter
2011-12-11 03:36 AM

Here’s the only working solution for moving housing units that I’ve seen so far: the Bank of Mom and Dad:

money.cnn.com: Helping kids buy homes

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Astute Observation by SanJoseRenter
2011-12-12 04:33 PM

That’s a nice $300k house, though the dining room is a little cozy, the lot is only 4,880 sq. ft. and there’s an HoA of $220.

Oh wait ... they’re asking $1.6 million. smile

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Astute Observation by Paul in Irvine
2011-12-14 06:22 PM

The home was built on Faith (street). Maybe rename the street to 1 Hope or better yet 1 Wish.

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