Get Ready for another Housing crash thanks to Democrats

[TTQ64]

That is not close to what caused 2008 Repub crash.

republican way of blaming blacks

 

[cawacko]

Government manipulation of markets is fascism. All Biden will do is make sawmills unprofitable. They will close.
It has already made renting property unprofitable. Biden has already effectively taken land from the landlords (communism) and given it to the renters, and is still charging the landlords all the taxes on the land as well!

Socialism is theft. It creates nothing. It solves nothing. It IS the problem.

Remind me what Republicans did to eliminate any/all gov't involvement in the housing market.

 

[TTQ64]

I think we are talking about different areas as the newest 2 bdr 2 bath apartments here are $1100 with utilities and basic cable paid.

theyare 2,600 here in CA no uyilities paid

 

[NiftyNiblick]

Housing is ludicrously overvalued around here and maybe needs an adjustment, even if that's very bad for us homeowners.

A doghouse goes for close to a million in Boston.

I don't how young people manage, because rent is sky high as well.

City workers with ten years minimum residence requirement have to negotiate for pretty high entry level salaries--
not the unions' fault--those people have to live--
so that affects the tax rates as well.

That being said, there are probably no acceptable solutions.

NOT living in the city would always be even worse from my perspective.

 

[Mr.Badguy]

Government manipulation of markets is fascism. All Biden will do is make sawmills unprofitable. They will close.
It has already made renting property unprofitable. Biden has already effectively taken land from the landlords (communism) and given it to the renters, and is still charging the landlords all the taxes on the land as well!

Socialism is theft. It creates nothing. It solves nothing. It IS the problem.

I must have missed when he did that. Landlords are scum that create false scarcity anyway.

 

[cawacko]

I must have missed when he did that. Landlords are scum that create false scarcity anyway.

LL's are scum? Having been a LL myself I'll bite, why so? (I'm not able to watch a video)

 

[Matt Dillon]

Biden White House to unveil steps aimed at easing housing supply shortage

https://www.foxbusiness.com/politics/white-house-housing-supply-shortage-biden

Yep. None of that bullshit is going to work. (except to make another housing bubble that pops.)

The main problem is Local governments that charge too much tax on properties.

Biden's proposed bullshit will do nothing but make the people poorer and the government and corporate oligarchy bigger and richer.

Not sure how much more of that Cloward-Piven strategy America can take.

The Covid shutdowns and eviction moratoriums did the same thing.

Listen to the words from this song, from when the cost of housing was not being meddled with by the government:

I've watched this and the medical Insurance and student loan thing snowball over the years.

All of it grows government and oligarchs at the citizens' expense.

 

[cawacko]

Yep. None of that bullshit is going to work. (except to make another housing bubble.

The main problem is Local governments that charge too much tax on properties.

Biden's proposed bullshit will do nothing but make the people poorer and the government and corporate oligarchy richer.

Not sure how much more of that Cloward-Piven strategy America can take.

Can't really say I've heard that argument. California has the most expensive housing in the country and because of Prop 13 our property taxes are pretty low compared to most states. You claiming its local property taxes that prevents new supply from being developed?

 

[Matt Dillon]

Can't really say I've heard that argument. California has the most expensive housing in the country and because of Prop 13 our property taxes are pretty low compared to most states. You claiming its local property taxes that prevents new supply from being developed?

Yes, in CA it may be the State Income tax and all the crazy local regulations absorbing the funds whereas elsewhere it's property tax.

You can't get a new roof in CA unless you put solar panels on it.

 

[LV426]

Can't really say I've heard that argument. California has the most expensive housing in the country and because of Prop 13 our property taxes are pretty low compared to most states. You claiming its local property taxes that prevents new supply from being developed?

Er um...Prop 13 doesn't keep everyone's property taxes low, it froze rates for those who have owned and lived in the same place since the 1970's.

If you moved to a new house since 1978, you pay higher property taxes.

If you have lived in the same house since 1978, your property taxes in CA are frozen at the 1978 rates.

So all Prop 13 does is entrench wealthy people, and everyone else pays for it.

 

[Stringfellow Hawk]

thats the lie told to blame blacks for the crash and to stop lending to them.

the racist white have been lying to you all for years..................

no one mentioned race but you, it was mostly low income whites here

 

[Stringfellow Hawk]

You do realize the people don't take out a mortgage to rent an apartment, right?

shut up dumbass

 

[Stringfellow Hawk]

Wow. And they both were involved in failed banks? Did they give out sub prime mortgages to people that weren't qualified? Did they go to jail?

Neither failed dumbass inbred jed, but all failed mortgages in 2008 was the result of Clinton.

 

[TTQ64]

no one mentioned race but you, it was mostly low income whites here

racist white men did................its who they blamed for the crash in 2008 ............you had the privelege of ignoring it...........as a white person.

 

[Matt Dillon]

racist white men did................its who they blamed for the crash in 2008 ............you had the privelege of ignoring it...........as a white person.

Greedy lenders and insane government policies is what caused it. Then the government bailed the greedy lenders out, but not the people.

 

[Into the Night]

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?

Forcing additional financing is fascism. Forcing added supply is communism. What don't you get about this?

 

[Into the Night]

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 capital 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. You may have children or even grandchildren that are in this situation at this time. I know I do!

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!

Communism doesn't work, dude.

 

[cawacko]

Forcing additional financing is fascism. Forcing added supply is communism. What don't you get about this?

Forcing supply? Is that what you call the gov't actually allowing development instead of rejecting it? LOL, all this sh*t talking and you're nothing but a run of the mill NIMBY.

 

[Into the Night]

No. That wasn't the issue in 2008.

It was exactly the issue that set up 2008.

The issue was selling mortgage backed securities that were falsely labeled as AAA.

The result of exactly the policies that Biden is suggesting.

This allowed for fraud by mortgage companies that failed to meet the standards required for loans that they resold.

The result of exactly the policies that Biden is suggesting.

If all loan applicants were required to meet the FHA standards in 2008 there would have been no market crash.

Biden is considering AGAIN on forcing the easing of standards.

FHA didn't allow for NINJA loans. Only the private mortgage companies did that.

Bullshit. The FHA was as guilty as anyone else.

Fascist and communist policies in the housing market ALWAYS results in a crash.

 

[Into the Night]

That is not close to what caused 2008 Repub crash.

It is exactly what caused the 2008 crash. It was Democrats and RINOs that set up the crash.