Chad

Banks need to loan money to cover the interest on savings and other deposits so I believe the next thing we will see is an increase in the FED holdings. So if a percent or two increase in the feds withholdings (reserve), billions will come out of the Americans total cash on hand. (Sound Familiar?) Unfortunately the bank does further loose its ability to pay interest on investments it holds. The cycle can go a few directions from there, but most likely monies will be pulled out and and redirected to various government backed bonds that then will be used to bail out the banks in partial. The FDIC sticker on the window governs the safety of your deposit, and so far I believe it has held up well. The fact of the matter is that most of these subprime loans (about 3 % of total home loans) will not go into forecloser. The bad part is that it will take about 20 loans to make up for the bad ones. I guess what I am saying is that things are not as bad as they seam. For a company like WaMu losses are slowly being made up in credit cards, didn't you get their 30,000 dollar aproval. There are checks and balances in the government, business and economy. So when these big banks collapse they will be absorbed by another. The stockholders of one will lose to the benefit of another.

I guess what I am saying is that life goes on. America and Americans will look back and say, " we all were scared.".. But it is like the Cuban MSL crisis. Do not lose any sleep. Or hide under your desk. - Fri Jun 27 2008, 18:31

Well the media, (&(*^& *&. Ok now that I got out the bad words, I can relax. I(f you look at the Media they are consistently quoting The S&P numbers from last qtr and comparing it to the High prices of last year. And yes it was this time last year when all the mortgage stuff hit the fan. So the media never says the reason realestate went bad. There was no money to lend. Most lenders didn't even know how to spell FHA. The media is happy because they got their bubble burst story and the mortgage melt down. But those two stories are the same thing. We are starting to rise here again in Tacoma, WA. I am waiting for the news to write the story that at the very bottom, Prices were still about 150% of that of 2003. So I feel that the Media (along with others) have played the American people. They play the word median, as if it were the same as average, and say down 15% like it was tracking a specific home, or say that 66% of these homes in this development are being sold under Duress (not mentioning that it is the developer!

Sorry if I am not one for perfect grammer, but if I help one person out there... And if you are scared of buying a house... Buy 2!

The truth is out there!-Chad Gunderson Tacoma, WA - Fri Jun 27 2008, 16:51

I am a developer in Tacoma and have been working around the downtown area for years. I can say that Tacoma is a great place, but the area can be diverse from one block to the next. It is a continually changing town and has everything any large city has to offer. If your looking for someone out of town and your out of town too, I would enlist a local realtor or partner. The TPD does offer a community interactive crime page. Although, I have seen some of the better neighborhoods with higher crime rates than the areas I would expect. Good luck!-Chad - Sun Jun 22 2008, 19:45

Well I have a condo developement that I am undertaking quite near to hilltop. The Delin building 2825 s. Delin St. and there is also a few other developers pouring millions in such as the Gintz Group (27th st station). I edo see that the area is on the improve and local papers say it is one of the safest streets. I do not know if I truly believe that, but it is an area on the improve. Dan Voelpel from the Tacoma News Tribune has wrote a few articles, too. I would say that any real estate purchased now is worth its weight in gold in a year or two. I would say that buying there is a great investment. Even if yourland sits, you will benefit from the millions being inserted in the local economy from developers. - Sun Jun 22 2008, 19:15

I would buy it! If my kids started to glow in the dark I would probably move out. And yes I would go back and visit the family at Christmas. I am not an animal... - Sat Jun 7 2008, 18:32