Economic Cancer: That Sense of "Entitlement" - 10/23/09 11:01 AM
When did we start to feel entitled?
In the Depression of the 1930's, the jobless father of 4 asked the farmer if he could work on the farm for a day in exchange for food to feed his family.
In the Depression of 2010 do we just take the food from the farmer because, after all, you and your family are entitled to eat?
Are we:
Entitled to a life better than our parents had?
Entitled to own real estate?
Entitled to dis-own real estate?
Entitled to be bailed out?
Entitled to a job?
Entitled to health care? And to social … (67 comments)

The Death Spiral of Move Up Buyers: First Time Buyers Are Not Enough to Save Us - 10/02/09 10:02 AM
Move up buyers are becoming extinct in California.
With an epidemic of negative equity sweeping the state, we must ask ourselves this question:
Do we really believe that there are enough first time homebuyers out there to turn this market around?
In the bubble years of 2005-2007, buying a house in California was often a "closing cost only" affair.
Buyers used an 80% first loan with a 20% HELOC right behind it, for a neat and tidy 100% loan.
Then they promptly spent their savings "fixing up the house" because after all, they could refinance a year later and the house … (52 comments)