Friday, October 03, 2008

A must see video for those who wants to get a feel of the foreclosure crisis.

This video must be watched by those who wants to see and feel what is going on in the epicentre of the Foreclosure crisis. About 11 mins long.



For those of you who thinks, "A lot of money lent to Americans... Where did it all go?"

Well. The houses are one thing. But when the banks or financial institution that are foreclosing, needs to clean out the house of everything, a 'trash out' occurs. That is when all things left behind by owners are thrown out into the Land fill.

Functioning products (probably made in China) are going to the land fill as rubbish. Value TOTALLY destroyed.

The money lent to Americans? Into Landfills. So stop saying, "the money must have gone to someone." It didn't. It is now buried into the soil.
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7 comments:

  1. AnonymousFri Oct 03, 02:27:00 am GMT+8

    可能睇到最新佑價同之前成交價. 市區樓現價比起對上一次o既成交價都仲有很大的差距 (e.g. 當地人十幾年前用 20萬o既市區樓, 差唔多供完. 呢家市值都要50萬. ) 未做蟹
    http://www.zillow.com/homes/map/

    ReplyDelete
  2. pakmanFri Oct 03, 02:33:00 am GMT+8

    oh zillow.

    the website that tracks a thousand broken dreams of home ownership...

    but how many houses in the years before...

    ReplyDelete
  3. AnonymousFri Oct 03, 03:02:00 am GMT+8

    非市區o既真係跌到呀媽都唔認得.
    而非市區o既樓都係近 10 年起o既.
    樓齡大過 15 年o既多數都係起市區
    以 CA為例, 去 Zillow search 一下 Orange County. 果邊講緊 5 bed room o既屋, 20 年前係新屋, 20萬攪掂. 一路去到早 2 年o既 70萬. 而最近o既價都要 50萬.
    當地環境唔錯. 校區好. 好多人買左之後. 等小朋友由幼稚園起同一區一路讀到上 University. 所以佢地有錢袋都冇賣. 呢家都唔駛蟹. 仲有好多都供到8899 啦

    ReplyDelete
  4. AnonymousFri Oct 03, 01:59:00 pm GMT+8

    Well, 由 Foreclosure Island 去 LA downtown 返工, 開車起碼 2 - 3 hrs.
    即係天水圍過天水圍. 起果根本冇咩工作 provide 去 support 咁大o既地區. D 人失業冇工開. 又想起鄰近搵返份工, 9 成9 搵唔到. 想搵o野做, 點都要搬近 downtown.

    ReplyDelete
  5. pakmanFri Oct 03, 02:19:00 pm GMT+8

    Yo L,

    Two things.

    1. HELOC. Home Equity Line of Credit. The fabled housing ATM.

    People have been taking out second loans. Ask HSBC.

    So how's the household balance sheets in area's such as LA? Healthy?

    2. Yes, according to the Case Shiller index, current house prices means houses bought before 1st of Jan 2004 is "in the money".

    But its "current prices". Is the fall going to continue? What do you think L? What do you think?

    hor hor hor

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  6. AnonymousFri Oct 03, 02:35:00 pm GMT+8

    I am living in LA and I am waiting for a right timing to buy one.

    Actually, the price is base on the which area you choose. If I am going to pay 10% down payment. I can buy a 2 level 3 bed rooms with back yard and the monthly payment is equal to the rental price of my current single room. And I know many people here looking for change from rental to become a owner.

    ReplyDelete
  7. pakmanFri Oct 03, 03:58:00 pm GMT+8

    L my friend,

    You sound like the people of Hong Kong circa 1999.

    "Rental Yield will justyify house prices" or "cheaper to buy than to rent"

    Go put your money where your mouth is.

    And leave a comment when you do buy, so we can track your house price performance.

    ReplyDelete

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