[Common Sense 101]

Wrong. The Obamunist and Obamanomics are depressing America.

[central_va]

Housing was in abubble. It is now at a reasonable level. People leveraged their overvalued houses to buy cheap trinkets manufactured by outsourced Chinese slave labor at Wal-Mart. Now the trinkets are in the land fill and the money and equity spent. And everyone wonders where the recovery is.

[conservativesister]

AND the next round of foreclosures is expected to hit in May which is reported to double what is currently on the market for sale.

[Lou L]

roughly one out of three homeowners went from having made money with a supposedly safe investment

If these people are still employed, and have been able to keep up on their mortgage payments, there's still a chance their investments are satisfactory, if not "safe."

The idea of a "safe" investment is one promoted by the media and financial services companies. There are less risky investments, but there are no "safe" investments. If there were such a thing, we would call them "money generation machines." When people signed their mortgage contracts, there were no guarantees that their home would earn x percent per year.

If you're a homeowner and want to be upset because your house is worth less because the Obama economy is in the tank, fine. That's a good reason. But the value of home prices rise and fall for many reasons. If you maintain your mortgage, and pay your property taxes, you still own your home. It still represents a tangible value, and can be used for collateral. That's more than renters can say.

[sickoflibs]

RE :”Most Americans were brought up to believe the cornerstone of good financial planning was to buy a home, pay the mortgage on time and watch the equity grow. That doesn't work at a time when home values are declining.
Economists measure the lost equity in housing to be in the trillions of dollars. But the impact on individual families is even greater. Consider this: Four years ago, 80 percent of homeowners thought their home was worth more than they paid for it. That number fell to 62 percent last fall and 49 percent today.”

What amazes me is that homeowners dont get together and form a political union to slow new housing development when house prices are going down.

Here in Maryland house prices have dropped by about 80 to $100K from their peaks in 2006 (not nearly as bad as other areas) yet developers are continuing to plow down acres and acres of trees (are they not green?) to put new developments that compete with existing homes, and our government at the state and local level is the green Democrats.

Meanwhile they continue to hike our taxes to pay for more roads, schools and a ton of climate change green taxes and mandates.

If house prices are going down in your area look around and see if new houses are being built. Your local politicians control that rate of growth,

[maddogtiger]

Don’t confuse cause and effect, the cause is high energy costs.

[GOP Poet]

on top of all of this the union, oriented teachers in this country are raising our children to be commie or commie sympathizers. demanding it all for free and having a bloodlust for the financially successful and or fortunate. we went way wrong in the sixties with our schools and allowing public unions. the commies have a put a strong foot hold on America. hope we can change enough to reverse this trend.

[wolfman23601]

Everyone here (Newport News, VA) is actually talking about how the housing market is finally picking back up. Then again, I just got my city assesment and it was down another 15%. At least my taxes are going down.

[IronJack]

This article is poorly reasoned. Part of the cause for ever-increasing home values was ever-increasing demand, which was fueld by the “easy money” policies of Fannie and Freddie. It was an artificial market that was bound to collapse when people realized it was built entirely on unsecured credit — there was no real money behind the illusion.

It was a great run for the construction trades and real estate agents, but was never sustainable by the sheer demographics.

[MrEdd]

People too effing stupid to understand what the consequences of building ten years worth more houses than you have families to live in them would be ... fully deserve to be depressed.

It took an idiot not to understand that the housing bubble would pop.

Complete idiots who were so damned stupid they got in peoples faces and tried to argue this wasn’t coming (which resulted in more people investing in real estate that will take two to three decades to break even at best) fully deserve both everything they get, and a heap of ridicule besides.

[dangus]

The decline in the price of a needed good is not the bad thing. The wildly inflated price was the bad thing, and damn the politicians of both parties for not recognizing the disastrous social consequences of skyrocketing prices, whitewashed by 0%-down mortgages and low interest rates. But I also single out George Bush for damnation, since he was a cheerleader for Americans becoming serfs once again to an all-powerful government entwined with banks to the point of fascism. Yes, the Democrats were worse, but then, the campaigned on big government; Bush promised to rescue us from them.

A $200,000 home is a nice thing. It’s only something for people to gnash their teeth over when they paid $700,000 for it.

[LomanBill]

Given the shape of things, "depressing" isn't what the Fabian Socialist parasites had in mind...

 

BOHICA.

 

 

 

" Uhhhh, that's not ours either! "

---Weiner, Obama, Perry, Pelosi, Frank, Pritzker and Associates, LLLP.

 

 

Follow the....

http://www.campaignmoney.com/finance.asp?type=in&cycle=08&criteria=pritzker&fname=penny

 

Billionaire business mogul Penny Pritzker is a member of one of America’s richest families and was the Finance Chair for the presidential campaign of Barack Obama.  It was Pritzker that led the prolific, and illegal, fundraising that helped power Barack Obama’s presidential campaign.  She was the chair of Chicago-based Superior Bank’s board for five years.  Pritzker was into subprime lending before it became all the rage starting in around 2000.  Prtizker's chairmanship was to concentrate on sub prime lending, principally on home mortgages, but for a while in subprime auto lending, too, after the Pritzkers' bank acquired its wholesale mortgage organization division, Alliance Funding, in December 1992. Back then they called it "predatory lending." Superior Bank went belly up in 2001 with over $1 billion in insured and uninsured deposits; 1,406 depositors lost much of their life savings.  This collapse came amid harsh criticism of how Superior’s owners promoted sub-prime home mortgages. On Nov. 1 [2002] the Federal Deposit Insurance Corp. pointed the finger at Ernst & Young, Superior’s auditor, in a fraud suit filed in federal court here.  But that action came two months after a group of Superior depositors accused the bank’s owners and directors, including two members of the Pritzker family, of racketeering....

[snip]

...Pritzker is chairman of Classic Residence by Hyatt, luxury senior living communities in 11 states; chairman of The Parking Spot, which owns and operates off-airport parking facilities in nine cities; chairman of the credit data company TransUnion and chairman of Pritzker Realty.  She also sits on the board of Global Hyatt and plays a role in numerous non-profit groups, including serving as chairman of the Olympic village portion of Chicago’s bid to win the 2016 Summer Games. 

 

http://www.theobamafile.com/_associates/PennyPritzker.htm

 

 

 

Nudge nudge nudge...

 

[Sequoyah101]

For decades I’ve said that you buy a house to build a home not for an investment. The claims it is a good investment have always been a myth for the most part. Not much more than a tax break sponsored enforced minor savings program and money laundering scheme for the money changers.

Look back at the housing price indices... housing has almost always gone up at the rate of inflation and from that you need to deduct the interest and the taxes and the upkeep. Sure, it is true you are paying back “old” money with inflated dollars, that is part of the deal.

Buy a house to make a home not as an investment.