tag:blogger.com,1999:blog-3912374653361649205.post8306844521979291940..comments2023-10-25T02:08:06.675-07:00Comments on Life, Liberty and the Pursuit of Money: Homeowner Equity Lowest Since End of WWIINoel Larsonhttp://www.blogger.com/profile/04101799343286185259noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-3912374653361649205.post-20553661529728743802008-03-07T09:03:00.000-08:002008-03-07T09:03:00.000-08:00That interesting given there are a ton of houses o...That interesting given there are a ton of houses on the market!Noel Larsonhttps://www.blogger.com/profile/04101799343286185259noreply@blogger.comtag:blogger.com,1999:blog-3912374653361649205.post-79454068119281929682008-03-06T23:41:00.000-08:002008-03-06T23:41:00.000-08:00The bad news is that rents are soaring in Portland...The bad news is that rents are soaring in Portland.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3912374653361649205.post-23231350752639507102008-03-06T19:54:00.000-08:002008-03-06T19:54:00.000-08:00@Sharon - Unfortunately you are probably right. It...@Sharon - Unfortunately you are probably right. It will get worse before it gets better.<BR/><BR/>@minimum - You are right as well. There are a lot of rentals available as well. So much, in fact, that they are renting to those that walk away from their mortgage!Noel Larsonhttps://www.blogger.com/profile/04101799343286185259noreply@blogger.comtag:blogger.com,1999:blog-3912374653361649205.post-50052299135794682312008-03-06T19:11:00.000-08:002008-03-06T19:11:00.000-08:00Think of the good news:Renter equity has never bee...Think of the good news:<BR/><BR/>Renter equity has never been higher!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3912374653361649205.post-6693274224926699292008-03-06T18:53:00.000-08:002008-03-06T18:53:00.000-08:00Yikes! I think we have to sink much lower before ...Yikes! I think we have to sink much lower before things are going to get better. What a mess!Sharonhttps://www.blogger.com/profile/13940623529019637336noreply@blogger.comtag:blogger.com,1999:blog-3912374653361649205.post-58815906491870020602008-03-06T17:11:00.000-08:002008-03-06T17:11:00.000-08:00Unfortunately yes! But in trouble in a slightly di...Unfortunately yes! But in trouble in a slightly different way then sub-primers.<BR/><BR/>Say you bought a house in California for $500K and put $100k down (20%)ad get a 15-year loan. You have good credit, and get a 15-yr loan because you are responsible.<BR/><BR/>Now aome of your neighbor aren't and some even lose their house, or even worse walk away. Now the banks own them and try to flip them. even two houses in foreclosure near your can lower the value 25%! So you, through no fualt of your, own a house worth$375K and you have a $400K loan. You do not hold 20% of your value so you may now need PMI (I am not sure).<BR/><BR/>So if they try to move they own negative equity and it will cost them to sell there house. And if you don't have it...you own a house you can't live in do to say relocation, but you can't afford a new one since you are paying on the old one.<BR/><BR/>Big ripples from the stone!Noel Larsonhttps://www.blogger.com/profile/04101799343286185259noreply@blogger.comtag:blogger.com,1999:blog-3912374653361649205.post-56900893164138373652008-03-06T16:42:00.000-08:002008-03-06T16:42:00.000-08:00It's a terrible indication about current condition...It's a terrible indication about current conditions. However, I haven't heard of anyone that put 20% down and took out a 15-year that's having issues right now. Have you actually heard of this situation?Anonymousnoreply@blogger.com