"Ya think, DiNozzo?"
guess i’ll have my house and property value re evaluated - pay less property tax
That’s inconceivable!
"Ya think, DiNozzo?"
The unexpected has become undeniably the expected exception!
As I said back when housing starts were reported to be up that we were just seeing a shell game as already planned housing was transfered from business to business, or more normally, from builder to bank. The thought at the time was that the end was near but we’ve still yet to see any real crash in the commercial market.
And we’ve still not seen it. I know many businesses that are paying nothing in rent and not being evicted for fear that the paper on the loan will get called if occupancy drops to less than 50%.
More and more honest people are reevaluating their loan terms and are far more willing to consider gaming the system, or turning good loans for bad, knowing that the lender has little choice but try to restore loans.
It's ridiculous to project the price of anything expressed in dollars when the dollar is being inflated. Project the price of houses in terms of ounces of gold and/or barrels of oil and then I'll pay attention.
Under inflation the only use for fiat money is the instantaneous buying and selling of real properlty. Money becomes simply a conduit rather than a store of value.
Here's a question for you ... if the dollar was losing its value rapidly and the peso was very stable in terms of its value, would you prefer to be paid in dollars or the equivalent value in pesos?
I predict in the future laws will be passed that require all transactions within the US to be in US dollars.
I wonder how much difference this will make if any?
GOP Shifts on Fannie, Freddie Overhaul (Republicans want bipartisan “compromise” with Obama, Dems)
http://www.freerepublic.com/focus/f-news/2648799/posts
They are desperately trying to re-inflate the housing bubble to move those toxic loans off the banks books. It will be interesting to see how this all plays out because Whalen claims all those mortgage buy backs that BOA is being sued for could take down the bank.
Whalen: Foreclosure Peak Still Ahead for US
“We understand what the problem is for Bank of America. They are insolvent. They still have huge losses to take on their mortgage book, and balance sheet. They also have to deal with everyone wanting them to buy-back mortgages.”
“By this time next year the majority of home sales will be involuntary - more foreclosure sales than normal sales.”
“We haven’t seen the peak of foreclosures yet. That will come 12 months from now.”
“QE and QE2 are just hidden subsidies for the big banks.”
“Bank of America is in the worst shape of any U.S. bank.”
“Bank of America senior bondholders will have to take a hit, convert debt into equity.”
“There is no doubt they will have to be restructured.”
http://www.moneynews.com/Headline/christopher-Whalen-Foreclosure-Peak/2010/12/06/id/379123
Unexpected by WHO? *I* expect everything to go in the crapper, sooner rather than later.