Americans' equity in their homes near a record low

Damn Yankee said:
Its significant because Americans have the highest level of home ownership, and building inexpensive homes is part of that equation.
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You singled out Japanese mortgages. You did not mention UK, Canadian, Peruvian, Australian, Albanian or any other. I wondered why Japanese was so significant to you. You also appeared to be of the opinion that an american 30 year mortgage was somehow brilliant. The first I had in the UK was 20 years and you failed to comment on our 5 and 10 year mortgages.
Now I would be the last to accuse you of cherry picking but...
You also failed to confirm your understanding of the term design life. If you used it then surely you must know what it means?
 
Damn Yankee said:
This misses the point entirely. The OP proves that there is an overall drop in wealth held by all American homeowners, not just youngins.
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You have to live somewhere. If all the homes increase in value and one sells they'll pay more for their next home. If all the homes decrease they'll pay less for their next home.

A familiar scam is communities slowly re-zone property for multi-family buildings in order to keep housing prices high. People are more interested in having homes as an investment as opposed to having sufficient housing for people. There is a deliberate shortage/high prices. There is no reason not to have affordable housing. (Is that a double negative?)
 
Lowaicue said:
You singled out Japanese mortgages. You did not mention UK, Canadian, Peruvian, Australian, Albanian or any other. I wondered why Japanese was so significant to you. You also appeared to be of the opinion that an american 30 year mortgage was somehow brilliant. The first I had in the UK was 20 years and you failed to comment on our 5 and 10 year mortgages.
Now I would be the last to accuse you of cherry picking but...
You also failed to confirm your understanding of the term design life. If you used it then surely you must know what it means?
Click to expand...
What is up with you? Because my posts are not encyclopedic you get all retarded? I'm a licensed professional engineer; of course I know what design life means.
 
apple0154 said:
You have to live somewhere. If all the homes increase in value and one sells they'll pay more for their next home. If all the homes decrease they'll pay less for their next home.

A familiar scam is communities slowly re-zone property for multi-family buildings in order to keep housing prices high. People are more interested in having homes as an investment as opposed to having sufficient housing for people. There is a deliberate shortage/high prices. There is no reason not to have affordable housing. (Is that a double negative?)
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LOL A liberal trying to teach me about supply and demand. Again you miss the point entirely. Try again.
 
Damn Yankee said:
What is up with you? Because my posts are not encyclopedic you get all retarded? I'm a licensed professional engineer; of course I know what design life means.
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I would not consider anything I say or said encyclopedic. If you do then I suggest you look to yourself and not to me.
You made statements which were designed to inflame (I know because I am a past master). But all you can say is that you a a licensed professional engineer. Qualifications are fine and to be respected but what we call 'nouse' is equally if not more important and to trumpet the suggestion that the US mortgage period is in some way superior shows extreme ignorance. Evidenced by your lack of response.
To confirm then for those who are unaware. A thirty year design life does not mean the structure will remain standing for 30 years or that has been designed to do so..
 
Lowaicue said:
I would not consider anything I say or said encyclopedic. If you do then I suggest you look to yourself and not to me.
You made statements which were designed to inflame (I know because I am a past master). But all you can say is that you a a licensed professional engineer. Qualifications are fine and to be respected but what we call 'nouse' is equally if not more important and to trumpet the suggestion that the US mortgage period is in some way superior shows extreme ignorance. Evidenced by your lack of response.
To confirm then for those who are unaware. A thirty year design life does not mean the structure will remain standing for 30 years or that has been designed to do so..
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No wonder you have such a low IQ.
 
Damn Yankee said:
Just read what you wrote in post 25. It's nearly incomprehensible.
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If you would care to mark those words, phrases or sentences that are causing you confusion, I will be pleased to try to explain. No need to feel embarrassed.
 
Damn Yankee said:
OK, to start:


That was in response to this:



It appears that you completely fucked up there.
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I'm sorry, your ignorance wins. You said your comments were not encyclopedic; I tacitly concurred and by pointing out that my comments were not encyclopedic either, signalled that I had no expectation nor desire to raise the level of discussion to Britannica level.
However you were so intent on screaming like a child who has losta toy: 'You fucked up.' that you traded comprehension for stupidity.
You win on that score, sir.
I hope that has helped you.
 
Lowaicue said:
I'm sorry, your ignorance wins. You said your comments were not encyclopedic; I tacitly concurred and by pointing out that my comments were not encyclopedic either, signalled that I had no expectation nor desire to raise the level of discussion to Britannica level.
However you were so intent on screaming like a child who has losta toy: 'You fucked up.' that you traded comprehension for stupidity.
You win on that score, sir.
I hope that has helped you.
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Lowaicue said:
If you do then I suggest you look to yourself and not to me.
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.
 
Damn Yankee said:
LOL A liberal trying to teach me about supply and demand. Again you miss the point entirely. Try again.
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In msg 17 you wrote, “The OP proves that there is an overall drop in wealth held by all American homeowners…”

And I replied in msg 22, “People are more interested in having homes as an investment as opposed to having sufficient housing for people. There is a deliberate shortage/high prices.”

So what point am I missing? When housing prices drop then, of course, the wealth of homeowners will drop. Is this some kind of revelation to you?

I also explained one of the main reasons housing prices are high. They're kept artificially high due to zoning. And covenants do the same thing.

Housing is a necessity just like medical care. Get the profit motive out and things will change. It's morally wrong to make outrageous profits off the basic needs of others.

What's your point besides the obvious?
 
Its really simple, Appletard. When the value of your home is less than it was before, you have less wealth.

These people who couldn't make their payments due to lost wages then get foreclosed, so the bank then owns the house. They sell it at auction and someone picks it up cheap. Then he rents it.

So the original owners lose any equity they had in their investment, they lose their creditworthiness so any financial agreements they make in the future are a lot more expensive for them, and they are forced to rent a lesser home in a crappier neighborhood.

People who have money buy up these homes and rent them to make a profit, which you libtards consider evil. Plus he's now the one making the future equity in the investment, not the original owners.

Nice going, Democrats.
 
moraly wrong what a fucking communist, if profits appear to high competition will bring in another supplier.
This is the main advantage of capitalism and free markets comrade.
 
you got to be a retarded mutha fucker to blame democrats,
Oh it was Damn whisker burns on his back Yankee.
 
you got to be a retarded mutha fucker not to blame democrats,
Oh it was Damn whisker burns on his back Topdoper.
 
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