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Author Topic: Housing Market  (Read 1149 times)

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Offline Libertas

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Housing Market
« on: July 20, 2011, 11:45:19 AM »
"These charts pose a simple yet profound question: how can people buy a still-expensive house if they don't have a job, or their income is plummeting?  The proximate triggers for the next phase-shift down include a decline in Central State intervention in the housing market and a return to official "recession" as the "soft patch" turns into a quagmire.  In an era where "market sentiment" swings wildly from day to day and the nation awaits every quarterly report from Apple as the "definitive" bellwether not just on stocks but the entire Galactic Mood, then the notion that trends can take years to play out doesn't sit well with our impatient demands for a "bottom." But long-term trends take years to play out, whether we like it or not. "

http://www.zerohedge.com/article/guest-post-has-housing-bottomed-heres-how-tell?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29

I think the first comment posted is on the right track, we can quibble over what the possible numbers are, but bottom line lenders are playing a delaying game, hoping that the economy turns around and people get employed again so they don't have to eat more bad paper.  But what percentage of potential foreclosures are ready to file bankruptcy before the economy turns around?  Lenders will be force-fed losses.  And how much of this will end up being picked up by taxpayers!
 ::gaah::

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Online Pandora

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Re: Housing Market
« Reply #1 on: July 20, 2011, 01:33:44 PM »
The Dodd-Frank new "consumer protection bureau" is still pushing NINJA loans and the DOJ is persecuting banks and lending institutions to make sure they are doing the lending.

FUBAR.
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charlesoakwood

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Re: Housing Market
« Reply #2 on: July 20, 2011, 10:25:08 PM »
Quote from: Pandora on July 20, 2011, 01:33:44 PM
The Dodd-Frank new "consumer protection bureau" is still pushing NINJA loans and the DOJ is persecuting banks and lending institutions to make sure they are doing the lending.

FUBAR.

I concur. 
There are evil banks and bankers but this problem is not created by bankers.  They like your money the old fashioned way. ...and I do to.

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Offline Libertas

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Re: Housing Market
« Reply #3 on: July 21, 2011, 07:08:59 AM »
Yes, but...

I was in banking when this BS first started under CRA, and it got worse...banks did not fight it aggressively back then, and to this day they play the field and contribute to both sides, and what has it gotten them?  More regulations to the point where they are basically held at gunpoint to lend to deadbeats and eat losses and pass the rest onto the taxpayers by having F/F entities house the sh*tpaper!

If they would have shown more spine then...

But our so-called rep's effed us too, by going along with these reg's and F/F BS!

So I am not giving either party a pass!
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