my home is a big cardboard box , my car is a shopping car from wal mart, and i live under a tree my friend lends me his computer once in a while i get along just fine, nahhh just kidding!
We need Health Care Tax & Global Carbon Tax then we will achieve final Jobless Recovery,we need to hope for more small business to go under & give another Bail Out to Goldman Sax. Give Mexico free welfare & Health care Hope & Change Obunga is gonna give you a free Tent
This is only the first wave. The second crashes to shore in 2010 and 11. It will occur when all the option-ARM's re-adjust. It will double (or worse) the effects of the last years market. Survivors will be those who 1) Manage to keep their jobs. 2)Bought the home before 2000. 3) Did not borrow against their equity. 4)Were fiscally conservative in spending. 5) Have money in the bank and have no or little consumer debt. The rest of you are screwed. Rotsa a' ruck'!
It's a sad time for sellers and a wonderful opportunity for buyers. A chance at the American Dream!! Temecula is great. Don't miss your chance while you can still obtain financing. :)
hahaha, good I'm glad the nimrods signing on to stupid mortgages are losing their homes. READ THE FINE PRINT DUMMIES. greedy Americans who rely on credit and not savings, they get what they deserve...
It's actually a little better cause you can get these houses for dirt cheap!! and it's one of the best neighbor hoods in temecula, right by all the school, and chaparral
Ending the video with Pete Schiff of Europac commenting was interesting. Schiff is right about the housing losses. But investing with Europac (Schiff's investment company) lost me over 50,000$. And that's a fact.
.....Fuck it!....even with housing prices gradually falling , I still can't afford a home..I guess I will build a "Fuckin HuT!...ThanX... Bush Adminstration!
Isn't it great??? I am actually home-buying right now, we're looking at 4 bedroom, 2400 sq. ft. homes built in 2000 or later, in the $200-240,000 price range and we already found dozens in Temecula, Murrieta, Winchester, and Menifee.
If we could afford $280,000, we could buy a 6-bedroom 3500 sq. ft. HUGE house
I would think the cheaper homes would be anywhere BUT Temecula, sadly - maybe Menifee because I haven't heard of it (granted I lived in Temecula really briefly a couple years ago).
Holy crap, are you serious? It's that cheap out there right now? I lived in Temecula briefly in high school, with my grandparents, who moved to Arizona because with the money they sold their house for, they were able to buy TWO moderate sized houses in AZ. They sold their house in Temecula in 2000 or so. I can't frigging wait to be done with college so I can move back to California.
Your leaders are globalists, not American Nationalists you idiots! You're just the wage slaves they take to the slaughterhouse while you thank them for it. Extreme Capitalism! The New X Games!
Beautiful heart of Silicon Valley where the dotcom boomed people driving fancy cars and high rolling collapsed with the housing crash. Housing prices will drop more and this is a very good video example. I'm glad that I sold my properties and got out at the right time.
One of my family members bought two houses in Temecula about four years ago. She got some garbage ARM and interest only loans. When I told her she was making a mistake, she told me I was being "negative". What can you say to these lemmings? Now, my tax dollars are going to pay for these idiots to stay in their McMansions. They shouldn't have bought these homes in the first place! I get to stay in my 1000 ft. condo that I bought with a thirty year fixed. Why do I get punished for being prudent?!
Alanhowitzer. House prices go up and down. Real estate is an investment. Do you watch the stock market? It's the same concept, just spread over longer periods of time.
Sure, except you don't leverage over 80% of your stock or even 100%. If you think real estate is an investment like the stock market, you are asking to lose your shirt :). As for long term investment, if you brought Ford Motor ten years ago, you are losing money the moment you brought even today after 10 years.
A home sale contract can't be completed without settling the original mortgage. Where's the extra cash going to come from? Most people who bought homes in the last three years have near zero equity.
Imagine going to the bank and asking, "I'd like to open an account for minus (-)$100K". After years of deposits adding up to $100K you will have $0 in the account. Silly isn't it? Well that is exactly what you will be doing if you bought a house right now. Maybe a little more, or a little less, but either way doesn't sound too good does it? DONT BUY REAL ESTATE BE SMART
I hope it continues to crash and burn. Serves all those greedy stupid people right. Now maybe they'll think twice about rushing in... dopes. Perfect music set to this subject/video!
Don't worry! The same people who created the bubble got out in really great shape and were the ones who sold you the monster house that you will no longer be able to afford or sell...
anybody that decides to buy property now is a fool real estae in america will decline a min of 20% this year , even more in certain areas , real estate went up 20% a year for the last 5 years it could very easliy go down 20% a years for the next 5 years , dont listen to real estate agents telling you its a great time to buy, thats bull shi t ,, realtors are liars , dont trust them .. dont buy wait and save big money ,
What kind of prices are they offering in Temecula, CA right now? From what I understand stubborn sellers and greedy Realtors have helped slowed normal price descent.
Thats funnny...but the sad truth is that the buyers who purchased these houses at sub prime rates will be paying the difference from the price they borrowed to the price it sells. The Attorneys will put judgment liens on them, garnish 25% of their pay checks their credit is ruined and they cant file bankruptcy. That means the average consumer will not consume, therefore putting a crunch on the banks. (now thats funny, what comes around goes around haha.)
What's this nonsense about attorneys and garnishing 25% of wages??? It will take them 5 years to figure out who owns the sliced and diced mortgage note. The illegals who formerly "owned" half of these houses have maxed out HELOCs, credit cards etc and moved to Tijauna.
So thats a good thing then, because the people who sold these houses @ subprime, arms, baloon payments deserve to be stuck holding the bag debt. I read the money market and I know for a fact some of this debt has already been sold. These guys sell debt to each other or to people they know (family owned from loan to debt). Debt is worth more than the original loan. FACT.
OMG thats my house at 1:05!!! This video was taken a few months before I moved in though.
ichbindarren 1 month ago
Hey this is actually my old neighborhood... I loved that place!
ichbindarren 1 month ago
my home is a big cardboard box , my car is a shopping car from wal mart, and i live under a tree my friend lends me his computer once in a while i get along just fine, nahhh just kidding!
demonslayer1172 8 months ago
Man who would want to live that close to their neighbor?
TheBgcheez 1 year ago
NEVER BUY A TRACK HOME NEVER!
nikkowinter 2 years ago
@nikkowinter
That's right, buy tract homes.
theshizambam 2 years ago
We need Health Care Tax & Global Carbon Tax then we will achieve final Jobless Recovery,we need to hope for more small business to go under & give another Bail Out to Goldman Sax. Give Mexico free welfare & Health care Hope & Change Obunga is gonna give you a free Tent
louis12346 2 years ago
A sleeping bag and tent is much better. Free water and restrooms at the parks.
7514328 2 years ago
This is only the first wave. The second crashes to shore in 2010 and 11. It will occur when all the option-ARM's re-adjust. It will double (or worse) the effects of the last years market. Survivors will be those who 1) Manage to keep their jobs. 2)Bought the home before 2000. 3) Did not borrow against their equity. 4)Were fiscally conservative in spending. 5) Have money in the bank and have no or little consumer debt. The rest of you are screwed. Rotsa a' ruck'!
grandysfunction 3 years ago 2
It's going up a lot now!
adsef12344 3 years ago
It's a sad time for sellers and a wonderful opportunity for buyers. A chance at the American Dream!! Temecula is great. Don't miss your chance while you can still obtain financing. :)
krislrob 3 years ago
temecula rules!!
dshiznitturk 3 years ago
hahaha, good I'm glad the nimrods signing on to stupid mortgages are losing their homes. READ THE FINE PRINT DUMMIES. greedy Americans who rely on credit and not savings, they get what they deserve...
discountninjah 3 years ago
a couple of those vids were in my uncles neighborhood
veryscarylookin1 3 years ago
I would love to see a follow up to this vid. If it was bad a year ago, immagine whats it like now!
n9cgmusm 3 years ago
It's actually a little better cause you can get these houses for dirt cheap!! and it's one of the best neighbor hoods in temecula, right by all the school, and chaparral
larson186 3 years ago
whats the name of the song?
kng863 3 years ago
songs called "Burning Down the House" by Talking Heads.
Rspringscabin 3 years ago
Ending the video with Pete Schiff of Europac commenting was interesting. Schiff is right about the housing losses. But investing with Europac (Schiff's investment company) lost me over 50,000$. And that's a fact.
LeeCalif 3 years ago
Good, glad I am not the only one. Only $50K. Hang in there Schiff is still right.
GoldSilverLead 3 years ago
That's what happens when you buy a house in the arse end of nowhere....LA ROCKS
phill90212 3 years ago
When the fuck is the market going to go up!
stevestifler101 3 years ago
When it hits the bedrock.
Puzzoozoo 3 years ago
Not for a VERY long time, my friend.
LeeCalif 3 years ago
.....Fuck it!....even with housing prices gradually falling , I still can't afford a home..I guess I will build a "Fuckin HuT!...ThanX... Bush Adminstration!
jimi08jam 3 years ago
You can always rent a room or a house. The majority of Americans are homeowners I guess- so they are going to take the brunt.
Be pleased with the lack of baggage because those people will loose everything..
AmersfoortTristan 3 years ago
that would actually be the clinton administration
prettyboy1987 3 years ago
Home prices were fairly static during the Clinton Administration, beep, try again.
monkeyman1140 3 years ago
THat what happens when you buy more then you need, greed comes back and bites you in the ass
PlagueMarine9 3 years ago
Isn't it great??? I am actually home-buying right now, we're looking at 4 bedroom, 2400 sq. ft. homes built in 2000 or later, in the $200-240,000 price range and we already found dozens in Temecula, Murrieta, Winchester, and Menifee.
If we could afford $280,000, we could buy a 6-bedroom 3500 sq. ft. HUGE house
donotimmar 3 years ago
Good for you. Best of luck! Just dont forget how much to cool that big sucker down during the summer ;)
john67elco 3 years ago
Where? I am looking at a site right now and all I can find are homes that are around 1200 sq ft for $200,000.
drgeisme 3 years ago
I would think the cheaper homes would be anywhere BUT Temecula, sadly - maybe Menifee because I haven't heard of it (granted I lived in Temecula really briefly a couple years ago).
jupitertronic 3 years ago
Holy crap, are you serious? It's that cheap out there right now? I lived in Temecula briefly in high school, with my grandparents, who moved to Arizona because with the money they sold their house for, they were able to buy TWO moderate sized houses in AZ. They sold their house in Temecula in 2000 or so. I can't frigging wait to be done with college so I can move back to California.
jupitertronic 3 years ago
Your leaders are globalists, not American Nationalists you idiots! You're just the wage slaves they take to the slaughterhouse while you thank them for it. Extreme Capitalism! The New X Games!
johnnypunish 3 years ago
Beautiful heart of Silicon Valley where the dotcom boomed people driving fancy cars and high rolling collapsed with the housing crash. Housing prices will drop more and this is a very good video example. I'm glad that I sold my properties and got out at the right time.
stahls420sel 4 years ago
One of my family members bought two houses in Temecula about four years ago. She got some garbage ARM and interest only loans. When I told her she was making a mistake, she told me I was being "negative". What can you say to these lemmings? Now, my tax dollars are going to pay for these idiots to stay in their McMansions. They shouldn't have bought these homes in the first place! I get to stay in my 1000 ft. condo that I bought with a thirty year fixed. Why do I get punished for being prudent?!
dorkwad06 4 years ago 3
Alanhowitzer. House prices go up and down. Real estate is an investment. Do you watch the stock market? It's the same concept, just spread over longer periods of time.
troysage007 4 years ago
Sure, except you don't leverage over 80% of your stock or even 100%. If you think real estate is an investment like the stock market, you are asking to lose your shirt :). As for long term investment, if you brought Ford Motor ten years ago, you are losing money the moment you brought even today after 10 years.
artimeis 4 years ago
The Fed must be working for Russia, boomers are pigs, and my taxes will go up as a result of the coming attempts at bailouts.
zc751c 4 years ago
This is inflation...now the Fed will be forced to pump more printed money into the system....
so even if you sell your house for a million you think you made a profit but really you didn't - your money just happens to be worthless...
welcome to the American Peso.
Filemon5 4 years ago
exactly. but the fed is stuck. everytime they lower interest rates, they HAVE to print more money, in order to give,
what about all those tens billions of liquidity they've been putting in banks for months????
anthonyonline405 4 years ago
this is scary......I have changed my mind not to buy unil 2020.
kiet619 4 years ago
smart thinking
anthonyonline405 4 years ago
God, they look like shoeboxes they are so close together!
expatman2004 4 years ago
But the realtors and my friends and family told me house prices never decline. What happened? Who can a person trust now a days?
alanhowitzer 4 years ago
Temec is full of gay rich wite people thats y shit cost so much n temecula
palaobg 4 years ago
Drop the prices significantly, and all those homes will disappear. This is California. But sellers are still greedy! Oh well...
ngwabass 4 years ago
It's hard to drop your price when you owe more than you'll get for selling it. Duh!
TYX91101 4 years ago
Ever heard of short sale? Or would you prefer to foreclose? It's your choice!
ngwabass 4 years ago
A home sale contract can't be completed without settling the original mortgage. Where's the extra cash going to come from? Most people who bought homes in the last three years have near zero equity.
TYX91101 4 years ago
But, but, but house prices never fall!!
Videos like this are the reason people aren't buying houses, boo hoo!
Nice work Hipmatt.
-Fellow piggingtonian
cooprider14 4 years ago
$100/sq ft and I'll take one! Maybe two.
papatoony 4 years ago
Those are some fugly houses
ValiRossi 4 years ago
Imagine going to the bank and asking, "I'd like to open an account for minus (-)$100K". After years of deposits adding up to $100K you will have $0 in the account. Silly isn't it? Well that is exactly what you will be doing if you bought a house right now. Maybe a little more, or a little less, but either way doesn't sound too good does it? DONT BUY REAL ESTATE BE SMART
lennyfest 4 years ago
and they are still building more tract housing
mumbles4ken 4 years ago
House prices in california suck cock seriously!
youknow88 4 years ago
but I have to buy in the next few months...builders are still selling to suckers and arne't take deep discounts
george4title 4 years ago
please don't buy a tract home. you'd be part of the problem.
ajaandrea 4 years ago
I hope it continues to crash and burn. Serves all those greedy stupid people right. Now maybe they'll think twice about rushing in... dopes. Perfect music set to this subject/video!
JP5466 4 years ago
someone should make a video of clips of the temecula valley pre 1990 compared to the housing monster it is today.
ajaandrea 4 years ago
i grew up in temecula and i can never go back now. there's nothing to go back to. like they said!!!! burning down the house!!!! burn them down!!!!
ajaandrea 4 years ago
Don't worry! The same people who created the bubble got out in really great shape and were the ones who sold you the monster house that you will no longer be able to afford or sell...
lividmany 4 years ago
anybody that decides to buy property now is a fool real estae in america will decline a min of 20% this year , even more in certain areas , real estate went up 20% a year for the last 5 years it could very easliy go down 20% a years for the next 5 years , dont listen to real estate agents telling you its a great time to buy, thats bull shi t ,, realtors are liars , dont trust them .. dont buy wait and save big money ,
lennyfest 4 years ago
What kind of prices are they offering in Temecula, CA right now? From what I understand stubborn sellers and greedy Realtors have helped slowed normal price descent.
LeftLiberalSoCal 4 years ago
put them any closer and those gingerbread sizes houses would be condos.
TOY4TWO 4 years ago
I agree. No yard for a dog or room for children to play. Cute if your entire life is spent indoors.
JodiG65 4 years ago
Thats funnny...but the sad truth is that the buyers who purchased these houses at sub prime rates will be paying the difference from the price they borrowed to the price it sells. The Attorneys will put judgment liens on them, garnish 25% of their pay checks their credit is ruined and they cant file bankruptcy. That means the average consumer will not consume, therefore putting a crunch on the banks. (now thats funny, what comes around goes around haha.)
chere7up 4 years ago
What's this nonsense about attorneys and garnishing 25% of wages??? It will take them 5 years to figure out who owns the sliced and diced mortgage note. The illegals who formerly "owned" half of these houses have maxed out HELOCs, credit cards etc and moved to Tijauna.
vlad10101010 4 years ago
So thats a good thing then, because the people who sold these houses @ subprime, arms, baloon payments deserve to be stuck holding the bag debt. I read the money market and I know for a fact some of this debt has already been sold. These guys sell debt to each other or to people they know (family owned from loan to debt). Debt is worth more than the original loan. FACT.
chere7up 4 years ago
As a matter of fact some are considered detached condos...
troysage007 4 years ago