Get Ready for another Housing crash thanks to Democrats

[Matt Dillon]

Given Obama's extension of TARP, and requirements to banks, all TARP funds were paid back with interest by the banks.

Govt. made about $30 billion

How much did the people lose? It was the people that lost in all that stuff. Big banks and government made out fine.

Banks doubled their property portfolio. Banks that should have been closed for making bad loans, liquidated, and made to pay off their depositors 1st.

 

[Into the Night]

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

Racism. Trolling.

 

[Althea]

How much did the people lose?

What people?

 

[LV426]

And-?

They've all been total crooks ever since Reagan's 2nd congress with very few exceptions.

Clinton could have veto'd NAFTA and did not. The head "Democrat" that year passed it, faggot.

You just keep moving the bar...now you're moving to Reagan?

Just give up.

 

[Into the Night]

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.

Government blocks development.

 

[LV426]

As has been mentioned here more than once, the perpetrators of the crash were NOT subject to CRA lending requirements.

Further, in '2000, BOA hailed CRA paper as some of the best investment grade products they held.

And in 2000, Bill Clinton imposed a HUD rule that prevented GSE's from buying risky loans.

Bush the Dumber reversed that rule, of course, to speed up the housing bubble.

 

[LV426]

(I understand this isn't some policy wonk board so fair enough, but nonetheless is pretty funny and predictable.)

Speak for yourself...many of us studied the 2008 economic collapse and understand what caused it and who was responsible for egging it on.

 

[Matt Dillon]

What people?

All the people involved in the mortgages. The everyday citizens lost. Why would you ask a question like that?

 

[Matt Dillon]

You just keep moving the bar...now you're moving to Reagan?

Just give up.

The mention of when Congress actually became totally corrupt is not as germane to the argument as much as that the "Head Democrat" that year signed the NAFTA deal all those eebil Rebulicans passed.

Face it: You're a slightly clever shill wonk, but I'm on an entirely different plane above yours.

 

[Geeko Sportivo]

Real estate agents do this? Where do they get the capital? Yes there are successful real estate agents but most don't have the type of money to go around and individually buy all the homes on the market. I work in (commercial) real estate but have invested in residential. I've dealt with large numbers of agents and have never heard of an agent offering to buy a property themselves.

There is a huge market just giving seminars on how to become an investor and buy Real Estate. And the very first thing you will learn in any of those Seminars is how to get your Real Estate License, create your own Real Estate Business, to do exactly what we are talking about. Millions of people attend these Seminars every year and have been for years! I thought everyone has been to one of those Seminars!

 

[Into the Night]

Complete fucking bullshit.

The cause of the 2008 collapse was the dramatic weakening of underwriting standards for subprime loans, beginning in 2004 and extending through 2007.

That started in 1980, pal...under Carter. It was added to by Clinton and again by Bush.

The Democrats weren't in charge

Carter is a Democrat. Clinton is a Democrat. Bush is a RINO.

and were actually sounding the alarm about vulnerabilities in the housing market

Lie. Conservatives were.

and among GSE's, but then it was Bush the Dumber's Treasury Secretary
who told Congress in 2003 that there was no danger posed by these subprime loans. And in 2003, that was true because those loans hadn't had their standards weakened.

They were already weakened.

That started in 2004 because Bush was trying to inflate a housing market to make up for the fact that his shitty tax cuts didn't deliver on a single promise made of them.

Pivot fallacy. Trolling.

 

[Nordberg]

IMO the problem was that the paper was sold on Wall St. before the ink was dry. Nobody cared if the note was worth anything.

Hell...they started trading bad paper, KNOWING it was bad paper.

Selling the certs immediately left banks with no liability. The banks did not care about how likely a mortgage was to be paid back. https://www.investopedia.com/ask/an...ons-cdo-responsible-2008-financial-crisis.asp the cause was unmitigated banker greed and ignorance of politicians who believed them.
Banks actually instructed the mortgage companies to downgrade requirements over and over. They also bribed the rating agencies to label the CDOs as AAA, when they were not.
The bankers covered all the bases.

 

[Into the Night]

You're a fucking moron and a liar.

"Since 1995 there has been essentially no change in the basic CRA rules or enforcement process that can be reasonably linked to the subprime lending activity. This fact weakens the link between the CRA and the current crisis since the crisis is rooted in poor performance of mortgage loans made between 2004 and 2007. "
https://www.federalreserve.gov/images/20081203_analysis.pdf

Who was President 2004-2007? Who controlled Congress?

Special pleading fallacies. Trolling.

 

[Into the Night]

You post links you don't read and then cry like a baby when called out.

Inversion fallacy. Trolling.

 

[cawacko]

There is a huge market just giving seminars on how to become an investor and buy Real Estate. And the very first thing you will learn in any of those Seminars is how to get your Real Estate License, create your own Real Estate Business, to do exactly what we are talking about. Millions of people attend these Seminars every year and have been for years! I thought everyone has been to one of those Seminars!

You can get your license, you can attend seminars but that all means nothing if you don't have capital and let's be honest, most people attending seminars don't have (real) money.

 

[Into the Night]

Maybe you should learn English since you can't even get your fallacies straight.

Nonsense. Learn English. Trolling.

 

[Into the Night]

You can get your license, you can attend seminars but that all means nothing if you don't have capital and let's be honest, most people attending seminars don't have (real) money.

Not after they lost it all investing the way the seminar coach told them to!

 

[Geeko Sportivo]

Obviously you have no idea what a carpet bagger is.
Real estate does not cause inflation. Printing dollars faster than wealth creation causes inflation.

It is not against the law to make a low bid to a property owner.

I am not saying they make low bids to homeowners- I am just saying they put themselves in a position to be the first one to place a bid.

Do You Need a Real Estate License to Flip Houses? NO! BUT IT SURE HELPS IF YOU HAVE ONE! LOL!

Any project begins with a checklist.

With a home sale being the end result of a home flipping project, this raises questions about requirements to flip houses (such as real estate protocol). While having a real estate license gives house flippers a leg up, you can flip houses without one.

Obtaining a license for flipping houses in Texas is an investment of time and fees, but the endorsement does have its perks.

Save money on agent commissions – Being your own agent means not having to hire one. So money in your pocket.
Tribal knowledge of regulations – Intimate knowledge of how the real estate market works helps you make the best decision regarding property disclosures and permits.
Networking – Who knows who the best contractors are? People who sell houses do! Being a realtor means having important connections.
Consumer confidence – The real estate process can make buyers nervous. Having the guidance of a realtor makes it feel less intimidating and risky.
MLS access – Multiple Listings Service access is for realtors only. This is where you can see newly listed investment opportunities and observe trends in the area.

 

[LV426]

The mention of when Congress actually became totally corrupt is not as germane to the argument as much as that the "Head Democrat" that year signed the NAFTA deal all those eebil Rebulicans passed.

Face it: You're a slightly clever shill wonk, but I'm on an entirely different plane above yours.

Dunning-Kruger is strong with you.

 

[LV426]

That started in 1980, pal...under Carter. It was added to by Clinton and again by Bush.

WRONG.

"Since 1995 there has been essentially no change in the basic CRA rules or enforcement process that can be reasonably linked to the subprime lending activity. This fact weakens the link between the CRA and the current crisis since the crisis is rooted in poor performance of mortgage loans made between 2004 and 2007. "
https://www.federalreserve.gov/images/20081203_analysis.pdf