Posted on 04/14/2011 8:17:28 AM PDT by SeekAndFind
This is one of those cases where it is necessary to buy on the Cannon and sell on the Bugle.
Gee thanks Obama. In three short years you have wiped out all of the equity in my and millions of other’s homes. Winning!
http://www.youtube.com/watch?v=_MGT_cSi7Rs
Democrats in their own words covering up the ongoing fannie mae/ freddie mac collapse
“it is time to buy’
With what?
The CRA contributed to the bubble just as much as cap gains.
The truth is that lowering capital gains tax rates or exempting capital gains from income taxation encourages speculation and capital consumption, not investment.
What a steaming load excrement. We NEED taxes to help us live responsibly? Taxes are an intrinsic economic good in and of themselves? Where rock did this idiot crawl out from.
sfl
“It may soon become clear that the Federal Reserve and the federal government wasted hundreds of billions of dollars simply to delay an inevitable fall in housing prices. Economic historians may compare their policies to the pervasive price subsidies that eventually bankrupted the Soviet government.”
As time goes by we seem to be becoming more and more like the former Soviet Union.
>> Real property has inflation hedging properties like Gold does
Yes... but not if you buy at inflated prices.
Buying houses now is catching a falling knife. Like the article says, prices will be lower when the housing price deflation has run its course.
In my area home prices are already down a little over 50% from the mid 2000’s and still plunging almost as fast as Obama’s credibility.
For those with some capital or dependable income there are good investment opportunities and they are getting better by the day. But there are so few willing investors and so many empty and foreclosed houses on the market that most are just sitting there rotting away.
Meanwhile, the local government still has a program of granting (no repayment required) huge amounts for down payments (average $45k) to people who cannot qualify for a mortgage loan, even at today’s depressed prices.
Of course the grants only go to blacks and Hispanics.
The list, ping
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So they buy it on the government's (our) dime, move in a dozen homeys, trash the place and then scram when the forclosure notice comes. Haven't we seen this movie before?
I agree with your observation.
is that before or after these fools wipe out the mortgage interest deduction?
This is an absolutely idiotic article. How can lifting the heavy handed capital gains tax be bad? The bubble was not caused by the government forgetting to put on the slave chins.
Houses...10 cents on the dollar soon enough...
slave chains.
My property taxes are going to drop by 25%!
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