Get Ready for another Housing crash thanks to Democrats

MAGA said:
I see you don't know any bankers as all will tell you that is exactly what happened when people that did not qualify before were approved for loans. Democrats are such dumbasses
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The funny thing is, most banks didn't have a problem with loans. How many small banks went under from mortgages that they held? The ones that did, did so because they violated their rules for approving mortgages. The real problem with faulty mortgages was mortgage companies like Countrywide which were not subject to the CRA since they were not banks.
 
MAGA said:
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
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Well you are right about people having to stay in their own lane! But right now even those homes built in the early 50's that leak like a hut, are costing $200,000 and not even affordable by most people, and even the smallest 1 bedroom shantytown apartments are over $1200 a month.

SO this is why most people that aren't making over 40K are living with relatives, living out of their vehicles, or out on the street right now.

This is not sustainable for our society!
 
Poor Richard Saunders said:
The funny thing is, most banks didn't have a problem with loans. How many small banks went under from mortgages that they held? The ones that did, did so because they violated their rules for approving mortgages. The real problem with faulty mortgages was mortgage companies like Countrywide which were not subject to the CRA since they were not banks.
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you are so full of shit, my son is a VP of one regional bank and my wife a CFO of another. Clinton paved the way for faulty mortgages
 
Geeko Sportivo said:
Well you are right about people having to stay in their own lane! But right now even those homes built in the early 50's that leak like a hut, are costing $200,000 and not even affordable by most people, and even the smallest 1 bedroom shantytown apartments are over $1200 a month.

SO this is why most people that aren't making over 40K are living with relatives, living out of their vehicles, or out on the street right now.

This is not sustainable for our society!
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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.
 
Primavera said:
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
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You're not wrong but to me it's a huge supply and demand issue. We limit supply in many places which drives prices up. Yes that's great if you're a current owner and have no desire to move (within your same general area) but it makes for a less dynamic economy. It's a real problem.
 
MAGA said:
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.
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Well I am here in Dallas County, Texas.

We used to have the best real estate prices in the nation, but not now that everybody under the sun are trying to get here as fast as they can.

Because our prices have gone up as a result! Houses are not even on the market for 2 weeks- and mostly grabbed up by INVESTORS- not people needing homes.

To be perfectly honest, today's real estate agents- ARE ACTUALLY INVESTORS in a real estate agent's clothing.

They go in, and tell the seller- "Your house will only sell for this amount- and we are prepared today to write you a check"!

This should be against the law- BUT IS NOW THE STANDARD! This is why Real Estate is a major inflation factor- AND IS THE REASON WHY HOUSING IS BECOMING UNAFFORDABLE TO MOST POTENTIAL HOME BUYERS!

And this is one of the reasons why real estate is so high here. Investors are controlling both ends of the market and laughing all the way to the bank! It is the epitome of Carpet-Bagging!
 
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MAGA said:
you are so full of shit, my son is a VP of one regional bank and my wife a CFO of another. Clinton paved the way for faulty mortgages
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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?
 
cawacko said:
What is your complaint here? That we would actually add supply or the role of the federal gov't in it?
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It is exactly the sort of trash that caused the 2008 crash. The federal government has NO role in it. None of what is being proposed here is constitutional.
 
Concart said:
This is just another Pavlovian response from the Trump cult. If Biden saved a litter of puppies from drowning in a well, the headline on Fox News would be 'Biden lets dogs go thirsty'. There isn't a single thread of any value started by any member of the cult, and obviously the OP is a member in good standing. They complain about the high cost of housing until Biden wants to do something about it, and then they claim (without a single shred of evidence or understanding) that it will cause a collapse. MAGA is a fucking moron. That's why he's on ignore.
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Fascism is fascism, communism is communism, no matter WHO is trying to implement it. Trump never tried to implement either.
This is coming from Democrats.

It WILL cause a collapse...not only in the housing market, but in the dollar as well. The federal government has NO constitutional validity here. Such fascism is unconstitutional. It is government manipulation of the housing market.
 
Concart said:
His complaint is that Biden did something. It does not matter to him WHAT it is. Just that Biden did it. So it has to be evil, stupid and destructive to America.
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It doesn't matter who tries to implement fascism. This is Biden trying to implement fascism. It WILL crash.
 
Concart said:
Not only is there no such reference, but his take on the reason for the 2008 housing crisis is completely wrong as well. There is no point in engaging a brainwashed parrot. They'll just keep asking for a cracker. What is suggested is that it will be easier to purchase rental properties. Those are not purchased as a homestead. They are purchased for the purpose of renting them out. That's why they're called... you know.... rental properties. There is a housing shortage, which drives up prices. The cult howls. The administration attempts to ease the shortage. The cult howls. They should be ignored. Just my two cents.
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The 2008 housing crisis was caused by government manipulation of the housing market. You can blame the Clintons and the RINO Bush for doing it.

It was fascism that caused the eventual crash. Now Biden wants to do it all over again.
 
MAGA said:
Cumcart is lying again as no one here has complained about the high cost of housing, I keep Cumcart on ignore as he is a whiney bitch without substance. If he actually had me on ignore he would not have replied proving he is a liar.
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Houses, particularly new houses, have recently spiked in price due to several reasons:

* supply interruptions of materials used to build houses (caused by Democrats and the Church of Covid).
* rental properties drying up because of communism (caused by Democrats and their taking of property from landlords).
* inner cities going to pot and people want to get out (caused by Democrats and the continual violence from Antifa, BLM, lawlessness, no police, and of course over regulation.

Fortunately, the lumber industry is finally returning to normal after the temporary high demand and low supply. Imported items are still in short supply and likely will be for some time to come. This is stuff from Japan, Korea, Taiwan, Vietnam, China. The cause of THAT is the Church of Covid closing or limiting port capacity.

Government manipulation of markets (fascism) is never a good thing.
Government ownership of markets (communism) is never a good thing.

Biden's attempt here is both fascism and communism.
 
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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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..................
 
cawacko said:
According to the article it's not financing for individuals rather for the supply side. That doesn't necessarily make it good legislation but it's not close to the same as financing for individuals during the bubble.
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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.
 
Geeko Sportivo said:
Well the problem is- America is experiencing the very worst inflation of Real Estate and Rental prices- creating a huge bubble where boon is about to bust. This is great if you are a home owner- But a crisis to those who aren't. Home ownership is being priced out of the market for the average wage owner today.

And don't give me this shit about this being Biden's fault, as Real Estate prices have been sky-rocketing on an upward mobility for the last 6 years- JUST AS THE STOCK MARKET HAS!

And don't give me this shit about the price of gasoline is what is causing our nation's inflation. Because that is total political BULLSHIT! Because, the overall inflation is being caused mostly by the HOUSING MARKET RUNNING AWAY WITH ITSELF.

Unfortunately one flaw in the Free-Enterprise system, is this human attitude flaw (let's just call it a phenomena) that always seems to inevitably and most assuredly creep into the process- and that is, "I got mine- SO FUCK YOU"!

And that attitude ends up dividing our nation into the "Haves" and the "Have Nots"- the rich and the poor- the home owner vs. the HOMELESS!

If and when our politicians we send to Washington have this attitude, of "I got mine- SO FUCK YOU" attitude- our country is doomed!

I am glad that Biden does not possess this attitude and is trying to do something about the housing crisis in America!
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Biden and the Democrats CAUSED the high prices to begin with, dumbass.
 
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