azrider wrote:

1 wrote:traffic court today. NOT GUILTY, BITCHES!!

first time i've had an officer actually show up. still undefeated.

you're just a regular ed wade. just don't get too cocky in the burbs, where you have to deal with cops that have nothing better to do and district magistrates that are total bitches.

lethal wrote:One time I got pulled over in South Philly for passing a car that was trying to parallel park. The driver of that car waved me past so he could have more room to park. The guys took my license, but then they got called to some other emergency while they were processing me. They pulled around and stopped real quick, and the guy in the passenger seat handed me my license and they took off real fast.

Damn straight I was going to fight that if they wrote me up. Is that even illegal?

1 wrote:

azrider wrote:

1 wrote:traffic court today. NOT GUILTY, BITCHES!!

first time i've had an officer actually show up. still undefeated.

you're just a regular ed wade. just don't get too #$!&@ in the burbs, where you have to deal with cops that have nothing better to do and district magistrates that are total bitches.

DJ Ann Young seems like a cool, cool cat. i especially liked when she sorta mocked the poorly written language on the ticket.

1 wrote:let's hope it never comes to that

1 wrote:

lethal wrote:One time I got pulled over in South Philly for passing a car that was trying to parallel park. The driver of that car waved me past so he could have more room to park. The guys took my license, but then they got called to some other emergency while they were processing me. They pulled around and stopped real quick, and the guy in the passenger seat handed me my license and they took off real fast.

Damn straight I was going to fight that if they wrote me up. Is that even illegal?

that sounds like the same section of PAVC as my ticket. you can't make significant forward progress in the opposite lane.

Grotewold wrote:

1 wrote:let's hope it never comes to that

/LL

phatj wrote:Wondering when I'll be over the hump and paying more towards principal than interest on my mortgage. Going on eight years in now. We didn't put much down, but we did re-fi after a year and get rid of the PMI (which I think implies we must have had at least 10% equity at that point?).

lethal wrote:

dajafi wrote:

The Savior wrote:

dajafi wrote:I just found out my home is worth about what I owe on it. This after making a 20 percent down payment five years ago. In New York City. And never missing a mortgage payment.

The result of all this is that we can't refinance... which means the thousands per year I thought we'd save, we'll continue to feed into the Citibank maw.

Whom shall I kill?

that blows. sorry to hear that dude.

Thanks.

My wife had it right: it deeply sucks, but nobody's dead. Just annoying to be screwed despite having done everything responsibly, as I understand it.

I'm in the same boat. Bought the place in July of 09. Got the 8K tax credit at least. Haven't tried to refi, but doubt I could now. I put 25% down, made all payments on time, etc. I checked zillow after reading this thread and my place is worth roughly 2K more than I owe on it. Only $400 of my monthly payment goes to principal. Plus the mortgage isn't owned by Fannie or Freddy as far as I can tell from Bill's links. I would've been better off continuing to rent, 8K or no 8K. I haven't done the rent vs buy calculation with the mortgage interest deduction factored in, but that's just figuring out how much worse off I am for buying rather than renting.

Well, at least when I move, I'm going to keep this place and rent it out to get the added tax breaks from that. I think I can claim about a 10-15K loss per year on my rental property. I dount the primary residence capital gain exemption for homeowners will come into play anytime in the next 10 years either.

Housing will come back – you can be sure of that. Over time, the number of housing units necessarily matches the number of households (after allowing for a normal level of vacancies). For a period of years prior to 2008, however, America added more housing units than households. Inevitably, we ended up with far too many units and the bubble popped with a violence that shook the entire economy. That created still another problem for housing: Early in a recession, household formations slow, and in 2009 the decrease was dramatic.

That devastating supply/demand equation is now reversed: Every day we are creating more households than housing units. People may postpone hitching up during uncertain times, but eventually hormones take over. And while “doubling-up” may be the initial reaction of some during a recession, living with in-laws can quickly lose its allure.

At our current annual pace of 600,000 housing starts – considerably less than the number of new households being formed – buyers and renters are sopping up what’s left of the old oversupply. (This process will run its course at different rates around the country; the supply-demand situation varies widely by locale.) While this healing takes place, however, our housing-related companies sputter, employing only 43,315 people compared to 58,769 in 2006. This hugely important sector of the economy, which includes not only construction but everything that feeds off of it, remains in a depression of its own. I believe this is the major reason a recovery in employment has so severely lagged the steady and substantial comeback we have seen in almost all other sectors of our economy. Wise monetary and fiscal policies play an important role in tempering recessions, but these tools don’t create households nor eliminate excess housing units. Fortunately, demographics and our market system will restore the needed balance – probably before long. When that day comes, we will again build one million or more residential units annually.

lethal wrote:Oh yeah, Zillow says that my place has lost approximately 15-20% in the past 5 or 6 months.

jamiethekiller wrote:was told that since i have no desire to live in a suburb/house that i should buy one anyway with the intent of renting it out for the next 30 years. knowing that 65 year old retired jamie won't be able to afford renting.