Posted on 11/18/2014 10:42:55 AM PST by SleeperCatcher
The government’s subprime lending debacle that came to a head in the form of the Great Recession in 2007 is about to be repeated, thanks to a repeat of conditions by the federal government. Recent newspaper headlines have announced that the Obama regime plans to provide more electricity to the still-lackadaisical housing industry by torquing home lending rules that will once again make it easer for banks to make loans to marginal buyers.
(Excerpt) Read more at absoluterights.com ...
In a country that no longer manufactures anything of substance, no longer allows mining, and does everything it can to raise the price of energy, creating paper credit for consumer spending is the only way left to generate revenue.
Given the choice between leaving his second term with the country in smoldering embers or ashes, apparently he prefers ashes.
Why can’t the Banks help themselves and avoid going on another bender?
Go Galt and PUT IT DOWN.
Cloward & Piven
The banks really never wanted to do this, except for the ones that figured out how to game it.
The fedgov forced them into it by threatening their mergers if they didn’t comply.
If they decide to repeat this, I’m going to take full advantage of it with RE investing.
I know how this story goes now, when to get in, when to get out.
Coward and Driven........................
I wouldn’t worry too much, when it fails again, our children will be there to pay for it.
I think its because Obama doesn’t like the fact that not enough minorities are getting loans due to tightened credit standards.
Greed
All part of the redistribution of wealth.
Folks, don’t forget that many of the folks who were about to lose their homes the last time, only remained in them because the government forced the banks to rework their loans. They still can’t make the payments.
Yeah, round two will be upon us. Count on it.
Bush, Obama, two nation ending asses on opposing ends of the same donkey.
That and the fact the real estate market never really recovered on its own after 2007. A junkie has got to have his juice and a chunk of all that QE money floating around makes for a good fix.
Here we go again. He’s making sure there will be cheap housing available for the illegal immigrants.
“don’t forget that many of the folks who were about to lose their homes the last time, only remained in them because the government forced the banks to rework their loans. They still can’t make the payments.”
Back in circa 2005/2006, the wife’s Family Trust was considering getting rid of the 3 large trailer parks they owned, because they weren’t very profitable, and revenues had declined over the last 5 years. People had jobs, and could afford better.
Now, they may as well be money-printing machines. Very little available space, and almost no turn-over.
Hopey-Changey, and all that...
Sad isn’t it. I’m glad for you family’s trust, but other than that it’s a sad indicator of this nation’s demise.
Thanks for the mention.
I wouldn’t worry too much, when it fails again, our children will be there to pay for it.
My sister bought in Seattle in 2007 and still lives there. She has not made a payment since 2008.
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