Get Ready for another Housing crash thanks to Democrats

Geeko Sportivo said:
Thanks for sharing! And you are right about building your own. I mean, being your own general contractor is always the best way to go- always has been- in terms of money in the bank. And I will personally congratulate you on your success!

But for some people or young families trying to start out with a first home- they don't normally have the capitol to do this. SO this option is just not available to them. So I'm sure you are thankful for your head start and good fortune to be able to do this.

I mean- home ownership is not always or ever is possible for everyone- and getting harder to come by anytime the Real Estate market starts to run away with itself. And because of this- renting becomes the only other choice of getting a roof over their head.

But now the rental market is also running away with itself in lock step as well.

I suppose this is the reason why the FHA was created, and there must be some kind of FHA help in getting people off of the street and into a roof over their head. We must invest in our young and old people- because our people are good investments in the long run!
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this will be my last home, kids today expect much for little investment, they graduate with huge college debt (totally uncalled for) and then want to live in gated communities. My first home was built in the late 50's, leaked, and was always needing repair but it also cost 5% of the new home I am building now. Be unwilling to settle for less should not be a government issue
 
MAGA said:
Making it easier for people that can't afford a home to buy. That was the issue in 2008, tons of home repossessed because people that could not afford a home were letting them go.
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That is not close to what caused 2008 Repub crash.
 
Nordberg said:
That is not close to what caused 2008 Repub crash.
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it absolutely is, there are two bankers in the family and both say the repossessed homes were people that would have been denied before the CLinton legislation. IF one can't put at least 20% down on a home, they have no business buying one
 
Poor Richard Saunders said:
No. That wasn't the issue in 2008. The issue was selling mortgage backed securities that were falsely labeled as AAA. This allowed for fraud by mortgage companies that failed to meet the standards required for loans that they resold. If all loan applicants were required to meet the FHA standards in 2008 there would have been no market crash. FHA didn't allow for NINJA loans. Only the private mortgage companies did that.
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the treasury secretary appointed by Clinton was the one who set up that program......
 
MAGA said:
Making it easier for people that can't afford a home to buy. That was the issue in 2008, tons of home repossessed because people that could not afford a home were letting them go.
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That's not what that policy describes...you didn't read the link, did you?
 
MAGA said:
Financing them to rent is in there and the other will follow, it will be hidden in the legislation just like charging people for every mile driven was on page 2700 of the infrastructure bill
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No it isn't, you're just lying your ass off now because people are holding your bullshit to scrutiny and you can't stand that because you're a big, fucking crybaby about everything.
 
PostmodernProphet said:
its exactly what Clinton did to create the 2008 real estate market crash.......don't mess with the Fannies and Freddies to increase the ability of low income earners to get mortgages.......
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According to this article there's nothing about increasing low income earners ability to get loans. It's about financing of new supply.

We have a growing population and in many places in this country we have restrictions on supply. That's really no bueno for multiple reasons. We can definitely debate the role the federal gov't should play in addressing this issue but it's not a question that it's a huge problem.
 
cawacko said:
The devil is in the detail with all legislation of course, and I'm not saying this good legislation, but I'm still not understanding the principle behind your displeasure here. You don't like additional financing to add to supply or you don't like the way the financing is structured?
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I don't think the vast majority have any clue just how big the derivatives market has become. Frightening doesn't even begin to cover it, terrifying is far nearer the mark.

The derivatives market is, in a word, gigantic—often estimated at over $1 quadrillion on the high end. How can that be? Largely because there are numerous derivatives in existence, available on virtually every possible type of investment asset, including equities, commodities, bonds, and currency. Some market analysts even place the size of the market at more than 10 times that of the total world gross domestic product (GDP). However, other researchers challenge these estimates, arguing the size of the derivatives market is vastly overstated.

KEY TAKEAWAYS
The derivatives market is said to be over $1 quadrillion dollars on the high end, but some analysts say the market is grossly overestimated. The higher end of the estimates includes the notional value of derivative contracts.
There is a large difference in the notional value and actual value of derivatives—$640 trillion versus $12 trillion—as of the first half of 2019.

The Range of Estimates
Determining the actual size of the derivatives market depends on what a person considers part of the market, and therefore, what figures go into the calculation. The larger estimates come from adding up the notional value of all available derivatives contracts. But some analysts argue that such a calculation doesn't reflect reality—that the notional value of a derivative contract's underlying assets, the financial instruments the derivative is pegged to, does not accurately represent the actual market value of derivative contracts based on those assets.

https://www.investopedia.com/ask/answers/052715/how-big-derivatives-market.asp
 
PostmodernProphet said:
sorry, I'm not going to waste my time educating another ignorant fool about sub-prime mortgages.......just stay the fuck away from things you don't understand....
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I don't think you need to worry about educating me about sub-prime mortgages. I think you should educate yourself about mortgage backed securities.
Bear Stearns and Lehman didn't go under because they took out a sub-prime mortgage.
 
PostmodernProphet said:
in 2005 you fucks said it was racist to try to stop it........
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The problems with loans had nothing to do with the Community Reinvestment Act since Lehman, JP Morgan, AIG and Bear Stearns were not banks and were not subject to the rules of the CRA. Of course that would require me to waste my time trying to educate your ignorant ass.
 
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