MBC PD수첩이 12일 밤 <2010년 아파트의 그늘>편을 방송했다. 이날 방송내용은 최근 수도권 주택시장에서 벌어지는 실태에 대한 생생한 현장취재와 판교 및 은마아파트 단지의 매매 거래실태를 분석, 보도하는 등 심층성이 결합된 수작이었다.

 

하지만 짧은 방송시간에 압축된 내용을 방송하다 보니 좀 더 깊이 있는 내용이 전달되지 못한 측면이 있는 것으로 보인다. PD수첩팀의 자료들을 바탕으로 방송에서 충분히 다뤄지지 못한 은마아파트 매매거래 실태를 정리해보았다. 참고로, 이 글은 우리 연구소가 발행하는 <경제시평>의 시사경제란에서 소개한 내용을 수정한 것이다.

 

우선, 1997년 이후 은마아파트의 연도별 거래 특성과 실태를 <도표1>을 참고로 살펴보자.

 

<도표1> 연도별 은마아파트 거래 실태


(주) MBC PD수첩 자료로부터 KSERI 작성. 2009년은 연환산 수치임

 

은마아파트의 매매체결 건수 추이를 살펴보면 부동산 1차 투기 붐이 일었던 2001년과 2003년 약 400건 전후의 거래 건수를 기록해 최고를 기록한 뒤 2차 투기 붐이 일었던 2005, 2006년에는 각각 260건 전후로 떨어졌다. 버블 세븐 지역의 주택거래 침체가 시작된 2007, 2008년에는 100~120건 수준으로 떨어졌으나 2009년 강남 재건축 위주의 집값 반등이 일어나면서 연환산 288건 수준으로 거래가 급증했다.

 

은마아파트 매입자의 연도별 거주비율을 살펴보면 1998 55.8%였던 것이 2005년 이후 18.3%로 떨어진 뒤 올해는 11.4%까지 떨어지고 있다. 실제로 살지는 않으면서 향후 시세 차익을 노린 투기 수요가 시간이 갈수록 크게 늘어 최근 5년 동안은 투기 수요가 은마아파트 매입 수요의 대부분을 차지하고 있는 것으로 추정된다.

 

2009년 은마아파트 매입자의 주거지를 보면 54.8%가 서울 강남 3(강남, 송파, 서초) 거주자였고 강남 3구 이외 서울지역 거주자가 18.3%를 차지했다. 이로부터 은마아파트의 주 매입자는 서울 거주자가 73.1%로 나타났다. 또 경기도 용인시와 성남시 분당 등 수도권 거주자가 17.4%, 수도권 이외 지방 거주자가 8.5%를 차지했다. 그리고 미국, 캐나다 등 외국 거주자도 2가구로 0.8%를 차지했다. 서울 이외 수도권 및 지방 거주자의 상당수는 부채가 없거나 부채가 적은 상태에서 집을 사고 있는 것으로 나타나 수도권 및 지방의 개발지역에서 토지보상 등을 받아 은마아파트에 투자하고 있는 것으로 보인다.

 

은마아파트 매입자가 주택 매입시 제 1, 2금융권 등에서 자금을 빌릴 때 설정하는 근저당 설정총액의 연도별 추이를 살펴보면 부동산투기가 극성을 부렸던 2001년 이후 급증해 2006 663.6억원까지 치솟았다. 이후 2007~2008년에는 급감한 뒤 2009년매매가 늘어나면서 다시 연환산 577억원 수준까지 급증하고 있다. 또 연도별로 전체 매입자 가운데 근저당설정을 하는 가구의 비율은 대부분 기간 동안 60% 전후 수준을 유지됐으나 2차 부동산투기 붐이 일었던 2004~2006년 동안에는 70%까지 급등한 것으로 나타났다.

 

이어서 은마아파트 근저당 설정액 추이를 살펴보면, 전체 매입자의 평균 근저당 설정액은 1997 0.8억원에서 2006 2.48억원까지 꾸준히 증가했다. 이후 거래가 줄면서 근저당 설정액이 줄었으나 다시 증가추세를 보여 올해에는 평균 2억원 수준을 기록했다. 근저당설정을 한 매입자의 평균 근저당 설정액도 비슷한 추이를 보이는데 1997년 평균 1.49억원 수준에서 꾸준히 상승해 2006 3.67억원까지 치솟았다. 이후 근저당 설정액이 줄었으나 2009년에 다시 3.43억원 수준까지 이르러 2006년 수준에 육박하고 있다. 2000년대 들어 부동산 투기가 심해지고 집값이 크게 오르면서 거래가 줄어드는 가운데 은마아파트를 산다고 해도 거액의 빚을 내지 않고는 투자하기 어려워지고 있음을 보여주는 것이다.

 

이번에는 2009년에 한정해서 은마아파트 매매 실태를 세부적으로 살펴보기로 하자. 2009 10월 중순까지 매매 거래를 한 227가구 가운데 근저당이 설정된 가구는 모두 133가구로 나타났다. 근저당이 설정된 가구의 평균 설정액은 3.4억원, 전체 가구의 평균 설정액은 2억원 정도로 나타났다.

 

근저당을 설정한 가구의 매매가 대비 평균 설정액 비율은 약 33.4%였다. 자산 가치에 비해서 평균 설정액 비율은 크게 높지 않은 것처럼 보인다. 그러나 매매가가 10억원 전후 수준이라는 점을 감안하면 이자부담이 적지 않다고 할 수 있다. 이를 좀더 세부적으로 살펴보면, <도표2>에서 매매가 대비 설정액 비율이 60% 이상에 이르는 가구가 전체 93가구 가운데 11가구로 11.8%를 차지하고 있다. 근저당 설정액 비율이 40% 이상인 경우까지 범위를 넓히면 33.3%에 이른다. 더구나 위의 매입자 거주 실태에서 드러난 것처럼 이들 가구 대부분이 전월세를 낀 상태에서 은마아파트를 매입했다는 점을 생각하면 이 같은 수치가 결코 낮은 것이라고 할 수 없다. 은마아파트 전세가가 약 2.5~3억원 정도로 매매가의 약 25% 정도를 차지하므로 실제 은마아파트 근저당설정 매입자는 평균 60% 이상 부채 레버리지를 사용하고 있다고 할 수 있다.

 

<도표2> 2009년 은마아파트 매입자의 부채 실태


(주) MBC PD수첩 자료로부터 KSERI 작성

 

 

전체 아파트 가운데 10% 이하의 소량이 거래돼 전체 가격이 오르내린다는 점을 감안하면 향후 시중금리인상 등으로 레버리지 비율이 높은 가구가 급매물을 내놓게 되면 가격이 급락할 가능성이 높다. 2009년거래체결 사례 가운데는 근저당 설정액 비율이 75%를 넘는 사례도 일곱 건이나 돼 향후 이들 가구가 급매물로 나올 경우 집값 하락 가능성이 상당히 높다.

 

이처럼 자산가치 대비 근저당 설정액의 비율만 봐서는 주택대출을 통한 부동산 매입의 위험성을 올바로 이해하기 힘들다. 이런 점 때문에 정부 당국도 LTV 규제뿐만 아니라 뒤늦게 소득대비 총부채 규모를 따지는 DTI 규제를 도입한 것이다. 등기부등본을 토대로 작성한 PD수첩팀의 기초자료에는 소득 자료가 없어 은마아파트 매입자들의 소득대비 부채 규모를 가늠하기는 어렵다.

 

하지만 이들이 매월 어느 정도의 이자를 내야 하는지는 추정해볼 수 있다. 근저당이 설정된 매입자들의 근저당 설정액 총액의 80%를 실제 금융권 부채로 보고 연이율을 7.2%(월이율 0.06%)로 잡을 경우 월 이자부담을 살펴보자. <도표2>에서 월 200만원 이상 이자부담을 하는 가구는 39가구(29.3%)에 이르고 월 300만원 이상 이자를 부담하는 경우도 13가구(9.8%)에 이른다. 웬만한 도시근로자 가구의 평균소득인 월 300만원 이상을 이자로 내면서도 이 같은 투자가 보상을 받을 수 있으려면 기회비용을 고려하지 않더라도 최소 연간 3,600만원 이상 아파트 가격이 상승해야 한다는 것을 의미한다.

 

정부가 DTI 규제를 도입한 이후 강남 재건축 단지를 중심으로 집값이 하락세를 보이고 있는 점을 감안하면 집값이 상승할 가능성은 낮다고 할 수 있다. 집값이 오르지 않는 상태에서 매월 300만원 이상 거액의 이자를 내면서 버틸 수 있는 가계는 많지 않다. 그런 상황에서 이들 가계가 시장에 급매물을 내놓으면 아파트 가격은 하락할 가능성이 높다. 이것이 2006년말 수도권에서 가계부채 급증을 배경으로 거래량이 증가하면서 가격이 폭등한 뒤 추가 매수세가 끊기자 2007년부터 집값이 국토부 실거래가 기준으로 꾸준히 하락했던 양상이기도 하다.

 

더구나 만약 5억원을 빌린 가구가 거치기간이 끝난 뒤 원리금을 함께 내게 될 경우 20년 분할 상환을 하더라도 원금만 추가로 208만원 가량을 내야 한다. 이 경우 웬만한 가구는 3년 이내에 아파트를 처분할 수 없다면 자신 소유의 아파트를 경매에 넘길 수밖에 없게 된다.

 

과도한 부채를 배경으로 오른 집값은 부동산시장 안팎의 조그만 충격에도 언제든지 다시 무너질 가능성이 높다. 고위 공직자와 정치인들이 자신들이 선투자해 놓은 강남 재건축을 중심으로 부동산가격을 띄우는데 단기적으로는 성공했을지 모르나 이미 국내 부동산 시장은 더 이상 지탱하기 어려운 상황까지 와 있다. 자신들의 사리사욕을 위해 국민을 기만하는 정책남발과 뒷일을 생각지 않는 재정 적자 확대로 부동산 버블을 더욱 키운 과오가 어떤 결과를 초래할지는 시간이 말해줄 것이다.

 

 

 

정부와 언론이 왜곡하는 경제 정보를 꿰뚫어보고 건전한 민주주의 시장경제 건설을 위한 좀더 의미 있는 토론과 참여를 원하시는 분들은 김광수경제연구소포럼(http://cafe.daum.net/kseriforum)을 방문해주십시오.

 

 

 


by 선대인 2010. 1. 13. 13:26
  • 이전 댓글 더보기
  • Ralph Lauren Polo T Shirts 2012.06.27 03:34 ADDR EDIT/DEL REPLY

    This really is genuinely excellent news. Thank you for sharing it with us!

  • Ralph Lauren T Shirts 2012.06.27 05:21 ADDR EDIT/DEL REPLY

    Funny, I was discussing this thing with my older sister the other day, now I'll have one particular much more argument in my hand when it'll appear to confrontation when once more.

  • luat doanh nghiep 2012.06.30 00:37 ADDR EDIT/DEL REPLY

    Hello everybody!! I'm from VietNam. I have a service website! Information: http://topiclaw.com/so-huu-tri-tue/nhan-hieu-hang-hoa/ -> nhan hieu hang hoa], http://topiclaw.com/dang-ky-nhan-hieu-hang-hoa/ -> dang ky nhan hieu], http://topiclaw.com/thu-tuc-dang-ky-nhan-hieu-doc-quyen/ -> dang ky nhan hieu doc quyen], http://topiclaw.com/dang-ky-bao-ho-nhan-hieu/ -> dang ky bao ho nhan hieu], http://topiclaw.com/bao-ho-thuong-hieu-nhan-hieu-hang-hoa/ -> bao ho nhan hieu hang hoa], http://topiclaw.com/tag/dang-ky-thuong-hieu/ -> dang ky thuong hieu], http://topiclaw.com/dich-vu-dang-ky-thuong-hieu-doc-quyen/ -> dang ky thuong hieu doc quyen], http://topiclaw.com/dang-ky-bao-ho-thuong-hieu/ -> dang ky bao ho thuong hieu], http://topiclaw.com/so-huu-tri-tue/dang-ky-logo/ -> dang ky logo], http://topiclaw.com/dang-ky-logo-doc-quyen/ -> dang ky logo doc quyen], . In data: http://topiclaw.com/tag/dang-ky-logo-thuong-hieu/ -> dang ky logo thuong hieu], http://topiclaw.com/1340873712/ -> von dieu le thanh lap cong ty tnhh], http://topiclaw.com/tag/thanh-lap-cong-ty-tnhh-2/ -> thanh lap cong ty tnhh], http://topiclaw.com/tag/thanh-lap-cong-ty-2/ -> thanh lap cong ty], http://chuyenvisa.com/dich-vu-lam-ho-chieu/ -> dich vu lam ho chieu], http://topiclaw.com/thu-tuc-thanh-lap-cong-ty/ -> thu tuc thanh lap cong ty], http://topiclaw.com/quy-trinh-thanh-lap-cong-ty-tnhh/ -> quy trinh thanh lap cong ty tnhh], http://chuyenvisa.com -> dich vu visa], http://chuyenvisa.com/c/visa-di-chau-a/ -> visa di chau a], http://chuyenvisa.com/dich-vu-lam-visa/ -> dich vu lam visa]. In profiles: http://topiclaw.com/ho-so-giai-the-doanh-nghiep/ -> giai the doanh nghiep], http://chuyenvisa.com/gia-han-visa/ -> gia han visa], http://chuyenvisa.com/lam-the-tam-tru/ -> lam the tam tru], http://topiclaw.com/1337133767/ -> cach thanh lap cong ty], http://topiclaw.com/1340299744/ -> dang ky ket hon voi nguoi nuoc ngoai], http://topiclaw.com/thu-tuc-lam-so-do-nha-chung-cu/ -> lam so do nha chung cu] . You can visit here: http://topiclaw.com/tag/nhap-khau-ha-noi/ -> nhap khau ha noi], http://chuyenvisa.com/c/visa-di-chau-au/ -> visa di chau au], http://topiclaw.com/xin-giay-phep/dang-ky-ma-so-ma-vach/ -> dang ky ma so ma vach], http://chuyenvisa.com/giay-phep-lao-dong/ -> giay phep lao dong cho nguoi nuoc ngoai], http://topiclaw.com/tag/thanh-lap-doanh-nghiep-2/ -> thanh lap doanh nghiep], http://topiclaw.com/ho-tro-doanh-nghiep/thanh-lap-cong-ty/ -> thanh lap cong ty]. Welcome http://topiclaw.com/ -> http://topiclaw.com/]!

  • Adidas Jeremy Scott 2012.07.11 12:23 ADDR EDIT/DEL REPLY

    Some men really go the distance to show their love and affection to their girlfriends. They buy lavish gifts, plan romantic holidays, and workout furiously everyday to impress their girls. While these efforts can certainly make girls feel happy, they may not meet all their emotional needs. Girls are usually more emotionally sensitive than guys, and they may feel insecure if they are not given the attention they desire. They need their boyfriends to tell them nice things from time to time, so that they can be assured that they are still desirable. Girls can be easily affected by words, and they may react like little girls when they hear sweet compliments from guys, especially comments that are related to their physical beauty.

  • coach outlet 2012.07.23 14:48 ADDR EDIT/DEL REPLY

    By the fashion, novel appearance, sophisticated technology, superior quality, Coach Outlet won domestic and international customers,

  • Coach Factory 2012.07.23 15:09 ADDR EDIT/DEL REPLY

    Even if Coach Factory you invested on a colorful bag you have to choose the right occasion.

  • Coach Factory Outlet Online 2012.07.23 15:27 ADDR EDIT/DEL REPLY

    Coach Factory Outlet Online is a store exclusively at your service. Different kinds of Coach bags are on sale. Get more information from it online store. Coach Factory is the premier source to review all new Coach and other stylish brands of Handbags,

  • Jimmy Choo Outlet 2012.08.19 16:04 ADDR EDIT/DEL REPLY

    It's a good stage!

  • Replica Louis Vuitton 2012.10.14 19:29 ADDR EDIT/DEL REPLY

    Very first factor , A large thank you for you to open my eyes.

  • CHI Straightener 2012.12.11 15:54 ADDR EDIT/DEL REPLY

    http://www.chiflatiron-hairstraightener.us
    http://www.montblancpenscheap.us/
    http://www.beatsbydrdreaustraliacheap.org/
    http://www.planchaspelo4ghd.org/
    http://www.beatsbydre-casque.org/
    http://www.christianlouboutin4outletsales.org/
    http://www.ghdrettetang4billig.org/
    http://www.christianlouboutin4uksale.co.uk/
    http://www.ergobabycarrier4canada.org/
    http://www.beatsbydrdrecheap.com/

  • riasubmifest1975 2012.12.22 17:05 ADDR EDIT/DEL REPLY

    second-hand someone added already adopted the arrive at involving devaluation and that means you do not need to. Okay clarify enjoy... The moment a partner transactions a totally new auto along with discs on the grinning store assistant, your car drops about 14 to further Forty percent in the benefits. This can be a ton of money if you happen to bring that all the way up. This is a storyline http://www.cheaphollistersaless.com/couple-c-12.html who shows those things could happen to that you without ever you even contemplating what's going on. Your pal The author http://www.cheaphollistersaless.com/abercrombie-womens-polos-c-7_8.html always http://www.cheaphollistersaless.com/mens-c-1.html procured cutting edge cars ahead of lamp followed directly on and the man beheld the reason why she or he is always in.

  • http://www.moncleroutletespain.com/ 2013.01.04 13:29 ADDR EDIT/DEL REPLY

    The airline holds base at the Hartsfield-Jackson Atlanta International Airport as well, http://www.moncleroutletespain.com/ moncler. The flights to Monrovia operate via a midway stopover in Accra, Ghana. Monrovia is seventh African destination served by Delta Airline, http://www.moncleroutletespain.com/ http://www.moncleroutletespain.com/.The airline operates a Boeing 767-300 ER on this route that has a seating capacity of 15 seats. Passengers can reserve seats in all three cabins i.e, http://www.moncleroutletespain.com/ moncler chaquetas. 34 Business Elite seats and 181 seats in Economy. Delta Airline is one of the very few American based airlines that provides direct flights from / to Africa to US and connects about 150 destinations throughout the countries. The airline?s first services to and From African continent started in 2006 while in September 2010, the airline operated flights to seven African destinations in six countries from the United States, http://www.moncleroutletespain.com/ moncler online. Some of the very popular air-routes with Delta Airline include flights to Boston, New York-JFK, http://www.moncleroutletespain.com/ moncler españa, Washington, D, http://www.moncleroutletespain.com/ moncler outlet.C., and Chicago via its hub at Atlanta.Related articles:


    http://suntesla.tistory.com/category/?page=10 http://suntesla.tistory.com/category/?page=10

    http://russianet.tistory.com/2 http://russianet.tistory.com/2

  • moncler chaquetas 2013.01.05 22:43 ADDR EDIT/DEL REPLY

    Un tumblr insère des GIFs du personnage de Friends dans des situations improbables, http://www.moncleroutletespain.com/ moncler outlet, du bureau de Barack Obama à une scène de Pulp Fiction en passant par le clip de Gangnam Style.Quand Chandler Bing est content, il danse comme un beau diable. Le tumblr Chandler Dances On Things a eu l'idée d'insérer les curieux mouvements du personnage de la sitcom Friends dans des environnements improbables tels que des scènes de films (Star Wars, http://www.moncleroutletespain.com/ moncler online, Pulp Fiction), un jeu vidéo, http://www.moncleroutletespain.com/ moncler chaquetas, la planète Mars, un mème Internet, le dos d'un lama ou en compagnie de personnages célèbres comme le Pape Beno, http://www.moncleroutletespain.com/ moncler?t XVI, Lana Del Rey ou Barack Obama.Voici nos 10 gifs préférés Retrouvez cet article sur fluctuat, http://www.moncleroutletespain.com/ moncler españa.netBanksy en gifs animésLes malheurs du journaliste musical résumés en gifsMaury show : le pire de la télé-poubelle US en 10 gifsStanley Kubrick en GIFs animésUn calendrier de l'avent en GIFsDevenez fan de Yahoo, http://www.moncleroutletespain.com/ http://www.moncleroutletespain.com/! Actu sur Facebook et suivez-nous sur Twitter.Related articles:


    http://unsoundsociety.tistory.com/401 http://unsoundsociety.tistory.com/401

    http://www.copanea.com/103 http://www.copanea.com/103

  • inmoglito1985 2013.01.18 12:19 ADDR EDIT/DEL REPLY

    of another car with the Western, It is suggested your EV simply because this community utilizes wave power sends. You are able http://www.cheaphollistersaless.com/abercrombie-womens-tees-c-7_63.html to online relating to how much vitality http://www.cheaphollistersaless.com/abercrombie-hollister-mens-sweaters-c-17_27.html performs a state develop through coal. Reduce release with carbon dioxide and isn't the only rationale to electric cars. Don't look at a a single all electric auto developing a tail water line over a lower back which signifies a lot of these cars do not put a in thickness piles related with fire usually they are maintaining. The electrical cars and trucks deliver reduced nitrous oxide, methane http://www.cheaphollistersaless.com/abercrombie-womens-shorts-c-7_59.html as well as varieties.

  • gensageca1988 2013.02.14 22:05 ADDR EDIT/DEL REPLY

    promotions of your respective local paper. Newspaper publishers selection brand new http://www.besthollisteroutletuk.co.uk/hollister-women-short-t-shirts-c-55.html motor bikes every week and most turn out to.<br><p>
    be outlined from reasonably decent. Purely take many forms once weekly and check out the exact listing they may have. Whenever them glance nice dial most of the number indexed having the cars or trucks. However, if browsing writings just is not exercising, otherwise you very easily should never wait for the suitable vehicle hollister gilet sale uk up ahead with you, you might check websites in fact. Cl . is considered the best places to get going your hunt. http://www.besthollisteroutletuk.co.uk/hollister-men-pants-c-45.html These people have a.<br><p>
    large number among lists, it's completely free of charge, as well as http://www.besthollisteroutletuk.co.uk/hollister-men-shirts-c-46.html the items are typically just updated many times just.

  • Suttonpzz 2013.05.15 23:47 ADDR EDIT/DEL REPLY

    http://www.rvwest.com/member/93171
    http://churchbeauty.com/member/365981/
    http://www.jaureguiarchitect.com/member/304881/
    http://spanish.fastrackmedia.com/S=5b825cf7f2d9e218d9325afe3d7e5e0b6e67b74e/member/112062/
    http://fountainpenboard.com/forum/index.php?/user/29527-suttonomr/

    http://www.vivaprograms.com/webmasters/11342-5-best-php-forum-bulletin-board-php.html
    http://eimskip.liangcity.com/intranet/bbs/memberlist.php?mode=viewprofile&u=1787
    http://www.7kaiat-o.com/vb/member2507.html Result: chosen nickname "Mandygqy"; profile edited; logged in; success (profile was registered successfully, but there is no permissions for creating new topic);
    http://glass-product.bnu.edu.cn/bbs/viewthread.php?tid=1290177&extra=
    http://forum.drron.ru/index.php?topic=126444.new#new
    http://www.tecnicoapple.com.br/phpBB3/memberlist.php?mode=viewprofile&u=90124 Result: chosen nickname "Mandyuxi"; profile edited; logged in; success (profile was registered successfully, but there is no permissions for creating new topic);
    http://resellerads.co/vb/showthread.php?p=100248#post100248
    http://blogcms.opensourcehosting.cz/forum/viewtopic.php?id=5750
    http://globalgamenation.net/forum/showthread.php?100-Elle-va-les-cette-chienne-perverse&p=8540&posted=1#post8540
    http://technovia-uk.com/forum/index.php?action=profile;u=11280

    http://www.proplayleague.com/forum/memberlist.php?mode=viewprofile&u=27002 <>Activation ] Result: chosen nickname "Mandyiwo"; profile edited; logged in; success (profile was registered successfully, but there is no permissions for creating new topic); BB-code not working;
    http://www.nowthatscatering.com/forum/viewtopic.php?f=5&t=1709 <>Activation ] Result: chosen nickname "Mandyooq"; profile edited; logged in; success - posted to "service feedback";
    http://shadowmt2.com/forum/memberlist.php?mode=viewprofile&u=6663 <>Activation ] Result: chosen nickname "Suttonlpi"; profile edited; logged in; success (profile was registered successfully, but there is no permissions for creating new topic); BB-code not working;
    http://forum.agermedia.com/memberlist.php?mode=viewprofile&u=7199 <>Activation ] Result: chosen nickname "Mandyqmf"; profile edited; logged in; success (profile was registered successfully, but there is no permissions for creating new topic); message must go through moderation;
    http://forum.ttcit.net/viewtopic.php?f=2&t=14832 <>Activation ] Result: chosen nickname "Suttonhxw"; profile edited; logged in; success - posted to "General";
    http://cosmocratores.com/forum/showthread.php?tid=234867 <>Activation ] Result: chosen nickname "Suttonwpq"; profile edited; logged in; success - posted to "General Discussion";
    http://vigilantesbrigade.com/forum.old/viewtopic.php?f=1&t=101616 <>Activation ] Result: chosen nickname "Mandyazv"; profile edited; logged in; success - posted to "VigilantesBrigade";
    http://www.techstation.com.ar/forum/showthread.php?1488-www.fujicitio.com-_upimg-coach.php-coach-%E3_%B3%E3_%BC%E3__-%E8%B2%A1%E5%B8_-okd653-zqzmvu&p=2445#post2445 <>Activation ] Result: chosen nickname "Suttonlih"; profile edited; logged in; success - posted to "General";
    http://forum.esthus.ru/index.php?/topic/107-wwwkyoto-symphonyjparchiveincphp-%e3%82%b0%e3%83%83%e3%83%81-%e3%83%90%e3%83%83%e3%82%b0-wfq1909dsfzwx/ <>Activation ] Result: chosen nickname "Suttonoyz"; profile edited; logged in; nofollow is found; success - posted to "??????????? ?????";
    http://www.redotriuniversidades.net/fororedotri/viewtopic.php?f=9&t=718489 <>Activation ] Result: chosen nickname "Mandyoft"; profile edited; logged in; success - posted to "General";

  • cheap christian louboutin 2013.05.17 00:02 ADDR EDIT/DEL REPLY

  • Mandyvkr 2013.05.17 14:08 ADDR EDIT/DEL REPLY

    http://www.protectbiodiversity.ca/member/44375
    http://www.hallmarkblinds.co.uk/index.php/member/60496/
    http://www.marylandsewvac.com/member/148590/
    http://www.gggpartners.com/member/585/
    http://www.lasdosbrujas.com/member/74857

    http://www.whac.org.cn/forum/viewthread.php?tid=1720976&extra=
    http://lonewolves.bringradicalback.com/forum/index.php/topic,188845.new.html#new
    http://www.hkeday.com/bbs/viewthread.php?tid=9332387&extra= Result: chosen nickname "Mandyvuy"; logged in; success - posted to "????";
    http://www.venozel.pl/forum/memberlist.php?mode=viewprofile&u=179588
    http://bbs.gospelherald.com/viewthread.php?tid=807732&extra=page%3D1 Result: chosen nickname "Mandyrty"; logged in; success - posted to "????";
    http://eimskip.liangcity.com/intranet/bbs/viewtopic.php?f=2&t=99658 Result: chosen nickname "Suttonewq"; profile edited; logged in; success - posted to "??????";
    http://www.oil.com.tw/modules/newbb/newtopic.php?forum=6%2B%2B%2B%2B%2B%2B%2B%2B%2B%2BResult:%2Bchosen%2Bnickname%2B
    http://www.theclassy.com/forum/index.php?topic=710028.new#new
    http://antilag.org/forum/memberlist.php?mode=viewprofile&u=20979
    http://www.presse-immo.de/postreply.php?id=23 Result: SERVER ERROR (host lost.sverok.net); chosen nickname "Suttonieu"; logged in; nofollow is found; success - posted to "5"; BB-code not working;

    http://www.pvpmeydani.com/forum/showthread.php?p=34033#post34033 [ Activation ] Result: chosen nickname "Mandyxmc"; profile edited; logged in; nofollow is found; success - posted to "Metin2 Server Kurulumu";
    http://www.wypadaniewlosow-forum.pl/www-kyoto-symphony-jp-archive-inc-php-uaj255-ujraha-t210405.html [ Activation ] Result: chosen nickname "Mandyxus"; profile edited; logged in; success - posted to "Nowosci i ogólna rozmowa o wypadaniu wlosów";
    http://forum.khmerlaws.org/viewtopic.php?f=3&t=643651 [ Activation ] Result: chosen nickname "Mandyfwc"; profile edited; logged in; success - posted to "??????????????????????????????????????????????????????";
    http://ragecraftrc.net/profile.php?id=74601 [ Activation ] Result: chosen nickname "Mandymnj"; profile edited; logged in; success (profile was registered successfully, but there is no permissions for creating new topic);
    http://worldgaming.com.pl/showthread.php?tid=151981 [ Activation ] Result: chosen nickname "Mandyxlp"; profile edited; logged in; success - posted to "Regulaminy.";
    http://www.karozmisr.org/vb/showthread.php?537-prepaid-debit-card&p=21880&posted=1#post21880 [ Activation ] Result: chosen nickname "Mandyenz"; profile edited; logged in; nofollow is found; success (from first page); (reply to topic);
    http://www.electnsru.com/viewtopic.php?p=410615#410615 [ Activation ] Result: chosen nickname "Suttonesa"; captcha recognized; profile edited; logged in; success - posted to "ä¿¿éÒÍصÊÒË¡ÃÃÁ Ç·.º 2 »Õ µèÍà¹×èͧ"; BB-code not working;
    http://forum.xdep.org/showthread.php?p=311188#post311188 [ Activation ] Result: chosen nickname "Suttonqoa"; profile edited; logged in; nofollow is found; success - posted to "Òåõíè÷åñêèå àñïåêòû";
    http://baldwinrobotics.com/bb/memberlist.php?mode=viewprofile&u=71489 [ Activation ] Result: chosen nickname "Mandypfr"; profile edited; logged in; success (profile was registered successfully, but there is no permissions for creating new topic); message must go through moderation;
    http://mafioz.ru/news-add.html [ Activation ] Result: chosen nickname "Mandyjeq"; captcha recognized; profile edited; logged in; success - posted to "http://forum.niesmiertelnosc.eu/forum/feed.php"; BB-code not working;

  • Mandypcc 2013.05.19 01:29 ADDR EDIT/DEL REPLY

    http://millenniumgolf.be/nl/member/148536/
    http://www.d1150220.cp.blacknight.com/archive/index.php/member/77207/
    http://marwen.org/member/19782
    http://www.cortesisland.bc.ca/index.php/member/54620/
    http://www.sonnenvogel.com/member/12171/

    http://us.bbs.joyport.com/viewthread.php?tid=1042090&extra=
    http://motevo.com.ua/web/forum/memberlist.php?mode=viewprofile&u=54024
    http://www.eternallifechurchthailand.org/elcboard/viewthread.php?tid=148746&extra=
    http://ftb.shadowimage.org/viewtopic.php?f=5&t=52286 Result: chosen nickname "Mandytcb"; profile edited; logged in; success - posted to "General";
    http://lonewolves.bringradicalback.com/forum/index.php/topic,144538.new.html#new
    http://cungthangtien.com/forum/showthread.php?7896-&p=18232&posted=1#post18232 Result: chosen nickname "Mandyyyz"; ReCaptcha decoded; (JS); profile edited; logged in; nofollow is found; success (from first page); (reply to topic);
    http://defektoskopist.pro/memberlist.php?mode=viewprofile&u=12495 Result: chosen nickname "Mandyauh"; profile edited; logged in; success (profile was registered successfully, but there is no permissions for creating new topic); message must go through moderation;
    http://www.tecnicoapple.com.br/phpBB3/memberlist.php?mode=viewprofile&u=85485
    http://koplist.net/board.php?msg=41753&subject=uubfng
    http://jubailhighway.com/vb/member.php?u=373 Result: GET-timeouts 2; chosen nickname "Mandyqfk"; logged in; success (profile was registered successfully, but there is no permissions for creating new topic);

    http://www.thpthuynhtanphat.org/member.php?u=75747 [ Activation ] Result: chosen nickname "Mandyjfb"; profile edited; logged in; success (profile was registered successfully, but there is no permissions for creating new topic); BB-code not working;
    http://www.king-mms.com/vb2/member.php?u=9029 [ Activation ] Result: chosen nickname "Suttonrve"; profile edited; logged in; nofollow is found; success (profile was registered successfully, but there is no permissions for creating new topic);
    http://a2trunghocphoyen.com/showthread.php?t=5060&p=7041#post7041 [ Activation ] Result: chosen nickname "Suttonljn"; profile edited; logged in; success - posted to "Buôn chuy?n";
    http://bnsforum.com/member.php?10269-Suttonyfg [ Activation ] Result: chosen nickname "Suttonyfg"; profile edited; logged in; success (profile was registered successfully, but there is no permissions for creating new topic);
    http://www.createdmouse.com.br/showthread.php?587-www-equitation-japan-com-prada-php-%E3%82%AA%E3%83%BC%E3%82%AF%E3%83%AA%E3%83%BC-%E3%82%B5%E3%83%B3%E3%82%B0%E3%83%A9%E3%82%B9-kgo2963-ibmffw&p=1201#post1201 [ Activation ] Result: chosen nickname "Suttonqnm"; profile edited; logged in; success - posted to "Off Topic";
    http://cungthangtien.com/forum/showthread.php?2599-Thong-tin-chung-ve-du-hoc-Uc&p=20542&posted=1#post20542 [ Activation ] Result: chosen nickname "Mandynui"; ReCaptcha decoded; (JS); profile edited; logged in; nofollow is found; success (from first page); (reply to topic);
    http://tavangari.ir/forum/showthread.php?2474-www-fujicitio-com-_upimg-coach-php-coach-tory-burch-elm1988-cnmpah&p=4427#post4427 [ Activation ] Result: chosen nickname "Suttonlew"; profile edited; logged in; success - posted to "????? ? ??????? ??";
    http://binaryoptionschat.com/member.php?5558-Suttonegu [ Activation ] Result: chosen nickname "Suttonegu"; profile edited; logged in; success (profile was registered successfully, but there is no permissions for creating new topic);
    http://mu-topvn.com/forum/showthread.php?81433-www-kyoto-symphony-jp-archive-inc-php-%E3%82%B0%E3%83%83%E3%83%81-%E3%83%90%E3%83%83%E3%82%B0-xqc430-nnplys&p=134405#post134405 [ Activation ] Result: chosen nickname "Mandyffk"; profile edited; logged in; success - posted to "Âm nh?c-Video Clip-Phim Online";
    http://mohamedhassan.me/vb/showthread.php?t=62741 [ Activation ] Result: chosen nickname "Suttonubp"; profile edited; logged in; nofollow is found; success - posted to "Main Forum";

  • Mandyvac 2013.05.20 12:48 ADDR EDIT/DEL REPLY

    http://imovenewquay.co.uk/member/35840/
    http://iacconference.org/member/260608/
    http://www.lakewoodinc.com/lakewood/index.php/member/35512/
    http://www.waterlinemedia.com/member/77412
    http://asthallmanor.com/member/876/

    http://www.repairinsider.com/forums/showthread.php?1482-NHL-Hockey-JerseysOnline-Advertising-and-marketing-spun1&p=125390&posted=1#post125390 Result: chosen nickname "Mandyaaz"; profile edited; logged in; nofollow is found; success (from first page); (reply to topic);
    http://klubklicks.info/forum/index.php?topic=55976.new#new Result: chosen nickname "Mandyywj"; profile edited; logged in; success - posted to "General Discussion";
    http://lonewolves.bringradicalback.com/forum/index.php/topic,196276.new.html#new
    http://www.pbccalhoun.com/forum/viewtopic.php?f=3&t=266363
    http://www.yerliyedekparca.com/forum/member.php?action=profile&uid=19356 Result: chosen nickname "Mandydcy"; profile edited; logged in; success (profile was registered successfully, but there is no permissions for creating new topic); BB-code not working;
    http://sobretech.com.br/forum/memberlist.php?mode=viewprofile&u=8914 Result: chosen nickname "Suttonbfn"; profile edited; logged in; success (profile was registered successfully, but there is no permissions for creating new topic); message must go through moderation;
    http://67.227.195.63/totally-apps-forum/index.php?action=profile;u=69996
    http://forum.gameklub.fr/showthread.php?117042-taxfreebicycles-com-includes-inc-php-Oakley-sunglasses-wql1132gqxguc&p=125250#post125250 Result: chosen nickname "Mandypou"; profile edited; logged in; success - posted to "Main Forum";
    http://www.topmusic.lt/forum/profile.php?mode=viewprofile&u=92405
    http://www.tuningbmwclub.ru/forum/index.php?topic=96063.new#new

    http://game.luklak.net/showthread.php?p=4949&posted=1#post4949 [ Activation ] Result: chosen nickname "Mandyhvk"; profile edited; logged in; nofollow is found; success (from first page); (reply to topic);
    http://www.electnsru.com/viewtopic.php?p=453312#453312 [ Activation ] Result: chosen nickname "Mandypgn"; profile edited; logged in; success - posted to "ä¿¿éÒÍصÊÒË¡ÃÃÁ Ç·.º 2 »Õ µèÍà¹×èͧ"; BB-code not working;
    http://disneydean.com/forum/showthread.php?129969-www-equitation-japan-com-prada-php-%E3%82%AA%E3%83%BC%E3%82%AF%E3%83%AA%E3%83%BC-%E3%82%B5%E3%83%B3%E3%82%B0%E3%83%A9%E3%82%B9-khu2731-tfkvos&p=165876#post165876 [ Activation ] Result: chosen nickname "Suttonymq"; profile edited; logged in; success - posted to "Main Forum";
    http://forum.surveyshaker.com/viewtopic.php?f=4&t=310343 [ Activation ] Result: chosen nickname "Mandygip"; profile edited; logged in; success - posted to "Données / Data"; BB-code not working;
    http://www.galaxyclub.vn/forum/index.php?threads/www-fujicitio-com-fujicitio-chanel-php-chanel-%E3%82%B3%E3%83%BC%E3%83%81-kkl1579-wihgvh.7235/ [ Activation ] Result: chosen nickname "Mandygmk"; profile edited; logged in; nofollow is found; success - posted to "Tin T?c Chung";
    http://www.omaninvest.net/showthread.php?25481-www-fujicitio-com-fujicitio-chanel-php-chanel-%E3%82%B7%E3%83%A3%E3%83%8D%E3%83%AB-%E8%B2%A1%E5%B8%83-ghk852-nbgzec&p=54289#post54289 [ Activation ] Result: chosen nickname "Suttonfqz"; profile edited; logged in; success - posted to "Main Forum";
    http://www.indirforum.net/kutlama-ve-duyurulariniz/367373-wwwequitation-japancom-asp-oakleyphp-1245812540124631252212540-125131246012493-udj2298-oijivh.html#post967822 [ Activation ] Result: chosen nickname "Suttonlln"; profile edited; logged in; nofollow is found; success - posted to "Kutlama ve Duyurularýnýz";
    http://www.diadiemvang.net/forum/threads/www-kyoto-symphony-jp-archive-inc-php-%E3%82%B0%E3%83%83%E3%83%81-%E3%83%90%E3%83%83%E3%82%B0-tpo1097-saqnhv.53890/ [ Activation ] Result: chosen nickname "Suttonmmc"; profile edited; logged in; success - posted to first encountered partition "Mua bán trao d?i voucher gi?m giá";
    http://tuneli.net76.net/forum/viewthread.php?thread_id=13408 [ Activation ] Result: chosen nickname "Suttonrog"; profile edited; logged in; success - posted to "Atsauksmes"; BB-code not working;
    http://www.zoofilos.net/showthread.php?105416-www-equitation-japan-com-polo-php-%E3_%B7%E3_%A3%E3__%E3_%AB-bot1228-wkqnza&p=122980#post122980 [ Activation ] Result: chosen nickname "Suttonxtl"; profile edited; logged in; success - posted to "Main Forum";