Hope you don't think your house is an investment - for this appointment means the ultimate deflationary bottom is still far, far away.
Oh, perfect...and this from those friendly folks who run Amtrak and the Post Office.
Obama admn is doing the same thing that caused the bubble and the crash. Just to make it seem like the housing market has improved, but it is just the same game game all over again.
I guess they feel like a Republican will get elected in 2016, and then they can do to that Republican what they did to GW.
The more things change, the more they stay the same.
If the author is trying to say that Mel Watt is a nut case wild eyed liberal, he is on the money.
He has been a disgrace to North Carolina.
We are glad to get him out of NC, if only the house can hold him in check.
Directive 10-289In the name of the general welfare, to protect the people's security, to achieve full equality and total stability, it is decreed for the duration of the national emergency that:
Point One. All workers, wage earners and employees of any kind whatsoever shall henceforth be attached to their jobs and shall not leave nor be dismissed nor change employment, under penalty of a term in jail. The penalty shall be determined by the Unification Board, such Board to be appointed by the Bureau of Economic Planning and National Resources. All persons reaching the age of twenty-one shall report to the Unification Board, which shall assign them to where, in its opinion, their services will best serve the interests of the nation.
Point Two. All industrial, commercial, manufacturing and business establishments of any nature whatsoever shall henceforth remain in operation, and the owners of such establishments shall not quit nor leave nor retire, nor close, sell or transfer their business, under penalty of the nationalization of their establishment and of any and all of their property.
Point Three. All patents and copyrights, pertaining to any devices, inventions, formulas, processes and works of any nature whatsoever, shall be turned over to the nation as a patriotic emergency gift by means of Gift Certificates to be signed voluntarily by the owners of all such patents and copyrights. The Unification Board shall then license the use of such patents and copyrights to all applicants, equally and without discrimination, for the purpose of eliminating monopolistic practices, discarding obsolete products and making the best available to the whole nation. No trademarks, brand names or copyrighted titles shall be used. Every formerly patented product shall be known by a new name and sold by all manufacturers under the same name, such name to be selected by the Unification Board. All private trademarks and brand names are hereby abolished.
Point Four. No new devices, inventions, products, or goods of any nature whatsoever, not now on the market, shall be produced, invented, manufactured or sold after the date of this directive. The Office of Patents and Copyrights is hereby suspended.
Point Five. Every establishment, concern, corporation or person engaged in production of any nature whatsoever shall henceforth produce the same amount of goods per year as it, they or he produced during the Basic Year, no more and no less. The year to be known as the Basic or Yardstick Year is to be the year ending on the date of this directive. Over or under production shall be fined, such fines to be determined by the Unification Board.
Point Six. Every person of any age, sex, class or income, shall henceforth spend the same amount of money on the purchase of goods per year as he or she spent during the Basic Year, no more and no less. Over or under purchasing shall be fined, such fines to be determined by the Unification Board.
Point Seven. All wages, prices, salaries, dividends, profits, interest rates and forms of income of any nature whatsoever, shall be frozen at their present figures, as of the date of this directive.
Point Eight. All cases arising from and rules not specifically provided for in this directive, shall be settled and determined by the Unification Board, whose decisions will be final.
Mel Watt is a horrible choice. I hope the few real Republicans we have will prevent Watt from destroying the real estate market.
Fine - I’ll save and save and save until I can pay cash at a much lower price then if I could finance.
I’m not totally clear on the details of this story, but from my perspective it may not be relevant anyway. I’m getting a sense that private equity financing is the way of the future in real estate anyway. The mortgage business only makes sense if you go into it with the full expectation that you never really want to own the home that you “bought.”