Posted on 11/19/2012 7:24:16 AM PST by Kaslin
Yeah, the DC market will stay high, thanks to all the govt jobs paying huge salaries for doing NOTHING!
Didn’t Bernanke just say last week, that there seems to be a problem with lower percentages of minority mortgage applicants being approved for mortgages, so they need to take a look at how to make mortgages more easily available to minority applicants. (?)
I didn’t think a tag was required, it’s basic Marxist economics based on “fairness”, class warfare and wealth distribution.
Agenda 21 is a “sustainability” program from teh UN that, among other things, calls for depopulation of rural areas and concentration of housing in urban areas near public transportation nodes. Apartments, condos, big multi-unit sustainable green housing. There is a lot about it on FR.
Exactly! He did say just that (not sure of exact quote).
Apparently nobody explained to him what really caused the cascading economic spiral we are now in.
LOL
Your perspective is all wrong. Think of all the jobs that could be created if we just start demolishing houses by the thousands. We could make it a law that a foreclosed home had to be levelled. Soon there would be a demand for more housing as more and more people were left homeless. Think of the money people would save if they didn't have to pay for a mortgage. Then there would be a huge demand for housing as people would want some place to live. More houses would get built and because there would be so many extra houses, they would be affordable. Hence, low and no income people could afford to pay on mortgages. The whole housing market problem would be fixed.
TA-DA! (is a tag needed here?)
Obama could give free houses away with cellphones, and first in line to sign up get a lifetime free supply of condoms.
My apologies for such poor thinking on my part.....Your scenario is perfection. And, of course, the EPA would have to be involved to monitor the disposal of the asbestos and lead-based paint in the older homes. Just think of all the new jobs that alone would create!
Why do I keep seeing a vision of a whole nation of Detroits?
Already happening in NJ & NY.
Also happening in Detroit & Cleveland.
Housing market? We’ve got a housing market? Who knew?
There was an article last week about 0bama’s second term racist agenda where he and Holder were going to pursue the doctrine of “disparate impact” and sue any institution that was involved in anything that affected minorities “disparately” in a negative way.
No word on studying the disparate racial representation of sports scholarships, professional basketball/football, etc, of course.
The government is financing foreclosures for people who lost their homes due to foreclosure.
City living affects your brain, researchers find
http://www.guardian.co.uk/science/2011/jun/22/city-living-afffects-brain
The part of the brain that senses danger becomes overactive in city-dwellers when they are under stress
With the amount of completely trashed foreclosed homes out there, that might not be a bad idea. I have seen these foreclosed homes that were bought by former renters, they are worse than some of my rentals condition after a tenant moves out. Funny, Freddie and Fannie almost always fix up the homes so they can be sold. They are losing thousands in value and putting additional taxpayer monies into fixing them up? Astonishing!
There are $75-$100,000 fixers all over. Some are not that bad, the mortgage payment for a $75,000 home with 20% down at 3.525% interest over 30 years is less than $300 a month plus taxes and insurance. It is a tax shelter extraordinaire!!
Last year, our beloved Justice department started looking into CRIMINAL sanctions against bank heads who did not give out enough loans to minorities. (Before it was just money they'd lose, and the banks jumped so hard we all lost trillions. When it is the FReedom on the line, they'll jump even harder!!!)
It took 5 years for the bubble to grow and burst. Look for 2016 to this one to come crashing down once again.
Be prepared, Scouts!
1. Interest rates will temporarily hit below 3%, but interest rates will rise by end of year as the prime rate rises.
2. Unemployment will continue to be a problem such that banks no longer want to see a job but a job over six months duration.
3. Younger people will continue to not buy homes and live with parents or live together, decreasing demand.
4. Smaller, less expensive homes near office centers will be offered, forcing the current housing market to continue to see less demand.
5. Gas prices will continue to stay above $3/gallon, also creating demand for homes closer to work centers, decreasing demand on many subdivisions and rural areas. Apartments and condo will continue to see increasing demand.
6. Baby Boomers will continue to retire at a rate of 10,000 per day. Many were counting on higher home prices to fund their retirement. They will not see that investment pay off, forcing rural and expensive homes to continue to stagnate in price.
7. Banks by end of year will be hurting for business and will relax mortgage standards, however, Obama and his fellow Communists will create regulations to steer those relaxed standards into minority urban areas and out of suburban and rural areas.
8. Soviet style block buildings will become popular as they are cheap and offer an alternative to living with parents or others. Expect this idea to start within the end of year. It has been mentioned before.
9. The ObamaCare tax of 3.8% on the selling of a home will be extended to all home purchases and not just for rich white racists. This will kill housing sales as it places people 3.8% further under water and increases home prices by 3.8%. If a mortgage is $100k and the sale is $100k, that wont do. The house sale must be for 3.8% more, $103.8k, to pay the tax and the mortgage loan.
10. Unemployment will continue to be a problem and curtail housing sales. Unemployment is at least 14% for primary income earners so housing sales will lag by that 14%.
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