Another FAILED Prediction by Deutsche Bank and Their Shill Karen Weaver
Started by The_President
over 16 years ago
Posts: 2412
Member since: Jun 2009
Discussion about
Deutsche Bank/ Karen Weaver in August 2009: Half of mortgage borrowers will be 'underwater' An estimated 25 million borrowers will owe more than their house is worth by 2011. http://money.cnn.com/2009/08/06/real_estate/underwaterworld/ Bloomberg Today: Fewer U.S. Homeowners Owe More Than Properties Are Worth Nov. 9 (Bloomberg) -- The number of U.S. homeowners who owe more than their properties are... [more]
Deutsche Bank/ Karen Weaver in August 2009:
Half of mortgage borrowers will be 'underwater'
An estimated 25 million borrowers will owe more than their house is worth by 2011.
http://money.cnn.com/2009/08/06/real_estate/underwaterworld/
Bloomberg Today:
Fewer U.S. Homeowners Owe More Than Properties Are Worth
Nov. 9 (Bloomberg) -- The number of U.S. homeowners who owe more than their properties are worth fell in the third quarter as values stabilized and some homes were lost to foreclosure, Zillow.com said.
About 21 percent of owners of mortgaged homes were underwater, down from 23 percent in the second quarter, the Seattle-based real estate data provider said today in a report.
http://www.bloomberg.com/apps/news?pid=20601103&sid=att2nsux_fFo
And let's not forget that this is the same Deutsche Bank and Karen Weaver that predicted that values in the NYC area will fall 55% from the peak...
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Response by NYC10013
over 16 years ago
Posts: 464
Member since: Jan 2007
You really are stupid. I mean that like in bottom of the class in high school, now a garbage man stupid. The entire reason the # of homeowners underwater declined is because they were foreclosed on. As in they were so far underwater they lost their house.
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Response by The_President
over 16 years ago
Posts: 2412
Member since: Jun 2009
you don't lose your house because your underwater. Most underwater peopel can afford their mortgages.
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Response by aboutready
over 16 years ago
Posts: 16354
Member since: Oct 2007
alpie, by 2011.
you do realize the gov't has been taking extraordinary steps to inflate housing values? do you think it can last forever, and those mods and homes that the banks haven't allowed on the market haven't had any affect?
underwater homeowners can afford their mortgages, but often not if they become unemployed. then there are the strategic decisions.
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Response by patient09
over 16 years ago
Posts: 1571
Member since: Nov 2008
Not true, most underwater people can't breathe, therefore, foreclosure. Not sure about the peopel in NJ though.
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Response by Topper
over 16 years ago
Posts: 1335
Member since: May 2008
Power to the peopel!
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Response by cheezwitnutin
over 16 years ago
Posts: 3
Member since: Nov 2009
They say that New York City has fewer people who are under water.
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Response by samadams
over 16 years ago
Posts: 592
Member since: Jul 2009
are you guys really using Zillow as a source?
BWHAHAHAHAH
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Response by 30yrs_RE_20_in_REO
over 16 years ago
Posts: 9881
Member since: Mar 2009
Fewer people are under water due to the high volume of foreclosures. It's like saying the number of Jews who were "near death" in 1946 Germany were far fewer than the number who were "near death" in 1941.
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Response by anonymous
over 16 years ago
Unemployment will not abate anytime soon. Many companies that shed jobs are realizing they were oversubscribed with employees. Their remaining employees are gladly working longer hours, happy to still have their jobs. As a result companies productivity and stock prices are rising. Expect to see a wave of mergers as companies with plenty of cash look to pick up bargains. We all know what happens to the acquired companies-many employees are let go. State and local governments, always bloated enterprises, are also shedding jobs as tax revenues fall. Our little housing boomlet will most probably falter once this reality sets in. Add in rising taxes and maintenance, rising interest rates and bloated inventory and we will see another leg down in a quarter or two. I think Deutsche Bank maybe proven right after all.
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Response by The_President
over 16 years ago
Posts: 2412
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"They say that New York City has fewer people who are under water."
The last time I checked, NY was dead last on the list of states with the most underwater homeowners.
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Response by The_President
over 16 years ago
Posts: 2412
Member since: Jun 2009
"you do realize the gov't has been taking extraordinary steps to inflate housing values? do you think it can last forever, and those mods and homes that the banks haven't allowed on the market haven't had any affect?"
Call me crazy, but anytime the govt. and the free market get into a fight, my money is on the govt.
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Response by The_President
over 16 years ago
Posts: 2412
Member since: Jun 2009
"Unemployment will not abate anytime soon."
But the GOVERNMENT said the stimulus package is supposed to create 3.5 million jobs. How can you argue with the GOVERNMENT? Get ready for an IRS audit...
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Response by 30yrs_RE_20_in_REO
over 16 years ago
Posts: 9881
Member since: Mar 2009
"But the GOVERNMENT said the stimulus package is supposed to create 3.5 million jobs."
As we learned recently, a lot of them in China.
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Response by anonymous
over 16 years ago
"Call me crazy, but anytime the govt. and the free market get into a fight, my money is on the govt."
President do you honestly think that gov't and the free market(big business) actually get into fights? that their interests are not aligned? really i want what you're smoking. we just bailed out a slew of big corporations. where have you been these past 16 months?
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Response by LICComment
over 16 years ago
Posts: 3610
Member since: Dec 2007
That was quite an obnoxious statement about sanitation workers above.
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Response by somewhereelse
over 16 years ago
Posts: 7435
Member since: Oct 2009
alpo still thinks there wasn't a RE decline...
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Response by streeteasyaddict
over 16 years ago
Posts: 121
Member since: Mar 2009
President, have you been to 2011 and back? Just curious how you know she's wrong. Also I don't quite get why she's a shill? What is she peddling? Does she get a commission for every transaction that doesn't happen??
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Response by truthskr10
over 16 years ago
Posts: 4088
Member since: Jul 2009
I'm confused. I thought an under water mortgage was just simply a home who's free market value is less than the amount of paper(mortgage) out on it.
A foreclosure is only the result if the mortgage can't be paid.
As long as these people still have jobs and can maintain their payments though, they'll be able to keep swimming. Underwater doesn't mean you have to sell your home.
Considering how many people refinanced over the last 2/3 years and having the standard 80% of the value at that time mortgaged, combined with the market decline of at least 20% already, it's not rocket science.
I think short sales will become very en vogue in Manhattan if the current jobless trend remains or worsens as well as the sales/rental market.
You really are stupid. I mean that like in bottom of the class in high school, now a garbage man stupid. The entire reason the # of homeowners underwater declined is because they were foreclosed on. As in they were so far underwater they lost their house.
you don't lose your house because your underwater. Most underwater peopel can afford their mortgages.
alpie, by 2011.
you do realize the gov't has been taking extraordinary steps to inflate housing values? do you think it can last forever, and those mods and homes that the banks haven't allowed on the market haven't had any affect?
underwater homeowners can afford their mortgages, but often not if they become unemployed. then there are the strategic decisions.
Not true, most underwater people can't breathe, therefore, foreclosure. Not sure about the peopel in NJ though.
Power to the peopel!
They say that New York City has fewer people who are under water.
are you guys really using Zillow as a source?
BWHAHAHAHAH
Fewer people are under water due to the high volume of foreclosures. It's like saying the number of Jews who were "near death" in 1946 Germany were far fewer than the number who were "near death" in 1941.
Unemployment will not abate anytime soon. Many companies that shed jobs are realizing they were oversubscribed with employees. Their remaining employees are gladly working longer hours, happy to still have their jobs. As a result companies productivity and stock prices are rising. Expect to see a wave of mergers as companies with plenty of cash look to pick up bargains. We all know what happens to the acquired companies-many employees are let go. State and local governments, always bloated enterprises, are also shedding jobs as tax revenues fall. Our little housing boomlet will most probably falter once this reality sets in. Add in rising taxes and maintenance, rising interest rates and bloated inventory and we will see another leg down in a quarter or two. I think Deutsche Bank maybe proven right after all.
"They say that New York City has fewer people who are under water."
The last time I checked, NY was dead last on the list of states with the most underwater homeowners.
"you do realize the gov't has been taking extraordinary steps to inflate housing values? do you think it can last forever, and those mods and homes that the banks haven't allowed on the market haven't had any affect?"
Call me crazy, but anytime the govt. and the free market get into a fight, my money is on the govt.
"Unemployment will not abate anytime soon."
But the GOVERNMENT said the stimulus package is supposed to create 3.5 million jobs. How can you argue with the GOVERNMENT? Get ready for an IRS audit...
"But the GOVERNMENT said the stimulus package is supposed to create 3.5 million jobs."
As we learned recently, a lot of them in China.
"Call me crazy, but anytime the govt. and the free market get into a fight, my money is on the govt."
President do you honestly think that gov't and the free market(big business) actually get into fights? that their interests are not aligned? really i want what you're smoking. we just bailed out a slew of big corporations. where have you been these past 16 months?
That was quite an obnoxious statement about sanitation workers above.
alpo still thinks there wasn't a RE decline...
President, have you been to 2011 and back? Just curious how you know she's wrong. Also I don't quite get why she's a shill? What is she peddling? Does she get a commission for every transaction that doesn't happen??
I'm confused. I thought an under water mortgage was just simply a home who's free market value is less than the amount of paper(mortgage) out on it.
A foreclosure is only the result if the mortgage can't be paid.
As long as these people still have jobs and can maintain their payments though, they'll be able to keep swimming. Underwater doesn't mean you have to sell your home.
Considering how many people refinanced over the last 2/3 years and having the standard 80% of the value at that time mortgaged, combined with the market decline of at least 20% already, it's not rocket science.
I think short sales will become very en vogue in Manhattan if the current jobless trend remains or worsens as well as the sales/rental market.