- This topic has 16 replies, 6 voices, and was last updated 17 years, 7 months ago by
NotCranky.
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May 17, 2007 at 1:23 PM #9109May 17, 2007 at 1:31 PM #53335
beanmaestro
ParticipantI’m not convinced anyone’s DOING anything to prevent RE prices from dropping. The politicians are talking a good game, but DOING nothing. The Fed is considering the effects on the economy, but holding rates steady. The banks/market are tightening lending standards, but only renegotiating loans when it’s in their interest.
My suspicion is that aside from banks waiving refinance fees and granting more forbearances, no one’s going to DO anything of consequence until prices drop another 10-15%, and then probably not until it’s too late
May 17, 2007 at 1:31 PM #53344ParticipantI’m not convinced anyone’s DOING anything to prevent RE prices from dropping. The politicians are talking a good game, but DOING nothing. The Fed is considering the effects on the economy, but holding rates steady. The banks/market are tightening lending standards, but only renegotiating loans when it’s in their interest.
My suspicion is that aside from banks waiving refinance fees and granting more forbearances, no one’s going to DO anything of consequence until prices drop another 10-15%, and then probably not until it’s too late
May 17, 2007 at 1:32 PM #53337blahblahblah
ParticipantPrivatize profit, publicize risk. That is the motto of the powers-that-be.
May 17, 2007 at 1:32 PM #53346ParticipantPrivatize profit, publicize risk. That is the motto of the powers-that-be.
May 17, 2007 at 1:50 PM #53354davelj
ParticipantI think that’s “Privatize profit, socialize risk,” but I know what you mean. Yup, that’s the M.O. of the government.
May 17, 2007 at 1:50 PM #53345ParticipantI think that’s “Privatize profit, socialize risk,” but I know what you mean. Yup, that’s the M.O. of the government.
May 17, 2007 at 1:53 PM #53349kewp
Participant“They aren’t making any more buyers!”
My prediction for the next big RE buzz-phrase.
May 17, 2007 at 1:53 PM #53358Participant“They aren’t making any more buyers!”
My prediction for the next big RE buzz-phrase.
May 17, 2007 at 1:53 PM #53351ParticipantYeah, that’s a better way to say it. But I don’t think it’s the government’s MO as much as it is the MO of big business. Government’s MO is just to grow and avoid responsibility.
We’re all screwed.
May 17, 2007 at 1:53 PM #53360ParticipantYeah, that’s a better way to say it. But I don’t think it’s the government’s MO as much as it is the MO of big business. Government’s MO is just to grow and avoid responsibility.
We’re all screwed.
May 17, 2007 at 7:36 PM #53427NotCranky
ParticipantCan the word mercenary describe an economic system or just murdering for money? I am looking for another word to describe the hostile element of our system, that seemingly co-exist with the two that are obvious in the mix capitalism and socialism.
May 17, 2007 at 7:36 PM #53435ParticipantCan the word mercenary describe an economic system or just murdering for money? I am looking for another word to describe the hostile element of our system, that seemingly co-exist with the two that are obvious in the mix capitalism and socialism.
May 18, 2007 at 12:55 PM #53615uncomfortably numb
ParticipantThe point of the original post was to bring attention to the fact that the market is anything but free. Remember, ‘property’ is where the powers’ that be bury their treasure. It is completely in their interests to keep the price of property, especially real property, as high as practical. Of course, historically, the price of real estate has only gone up at the rate of inflation (what else could you ask for?), and the diversion from this mean is but a temporary blip, indicating a fairly obvious corruption within the system, but the advantages placing one’s wealth in real property are numerous. If you ‘own’ the land, then you control much of what happens on, by, through, underneath, and above it. It’s sort of like controlling the currency, but in real instead of virtual terms.
Right now you are watching the various institutions, especially the banks, and their lackeys, the appraisors, the RE agents, insurance people, all the way down the line, manipulating their little hearts out, but of course, in the end, the natural order of things wins out, much of the corruption is weeded out, and things return to “normal,” that is, getting screwed in a perfectly moral, legal, and acceptable way.
May 18, 2007 at 12:55 PM #53624ParticipantThe point of the original post was to bring attention to the fact that the market is anything but free. Remember, ‘property’ is where the powers’ that be bury their treasure. It is completely in their interests to keep the price of property, especially real property, as high as practical. Of course, historically, the price of real estate has only gone up at the rate of inflation (what else could you ask for?), and the diversion from this mean is but a temporary blip, indicating a fairly obvious corruption within the system, but the advantages placing one’s wealth in real property are numerous. If you ‘own’ the land, then you control much of what happens on, by, through, underneath, and above it. It’s sort of like controlling the currency, but in real instead of virtual terms.
Right now you are watching the various institutions, especially the banks, and their lackeys, the appraisors, the RE agents, insurance people, all the way down the line, manipulating their little hearts out, but of course, in the end, the natural order of things wins out, much of the corruption is weeded out, and things return to “normal,” that is, getting screwed in a perfectly moral, legal, and acceptable way.
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