Dallas Fed Admits to Manipulating housing market

[briansd1]

Greed is not bad. It needs to be channelled to productive uses.

The government didn’t need to force to banks to make bad loans. The bankers did that on their own because they get commissions up front, regardless of how the loans perform. The banks figured that by the time the loans default, they would have stashed fortunes away already.

I thought that the CRA canard had be killed already.

CRA is targeted to underserved established areas. It has nothing to do with brand new tracts of houses like those in Temecula, Murietta, Las Vegas, or Forida — areas that have been hit hardest by defaults and foreclosures.

About affordable loans, I have been following Smart Corner, downtown, and La Boheme in North Park. Those buildings had units targeted to those with limited income. Those income-restricted units are doing well, with few foreclosures, compared to the market-rates units, in the same buildings, which are falling one after the other.

You should look at the Housing Commission website to see what it takes to quality.
http://www.sdhc.net/Real-Estate/First-Time-Homebuyers/

The difference between a good loan and bad loan, it not the income of the borrower, but the quality of the underwriting and the loan-to-value ratio. The stated-income loans and the low-docs, no-docs loans are the most likely to default.

[Scarlett]

[quote=Diego Mamani]The Fed knows that everybody knows that the housing market is being manipulated. A better title for this post would be:

Dallas Fed Admits that Manipulating Housing Market is Useless

I find it disgusting and 100% unamerican, that the mortgage market today is essentially a government operation. Even though I have approached “private” banks to finance the purchase of my residence and investment properties, these institutions have to follow Fannie and Freddie rules to decide whether to approve my loan. Why? Because the FEDERAL GOVERNMENT (i.e., us taxpayers) purchase mortgages from the banks at what essentially amounts to non-market interest rates.

I have friends who pretty much risked their lifes to escape a communist regime more than 20 years ago. They find it ironic that the economy of the great U.S. of A. is slowly becoming the bureaucratic, government-run pseudo-economy they run away from.[/quote]

I hear ya… I am one of those people…

[Scarlett]

[quote=Diego Mamani]The Fed knows that everybody knows that the housing market is being manipulated. A better title for this post would be:

Dallas Fed Admits that Manipulating Housing Market is Useless

I find it disgusting and 100% unamerican, that the mortgage market today is essentially a government operation. Even though I have approached “private” banks to finance the purchase of my residence and investment properties, these institutions have to follow Fannie and Freddie rules to decide whether to approve my loan. Why? Because the FEDERAL GOVERNMENT (i.e., us taxpayers) purchase mortgages from the banks at what essentially amounts to non-market interest rates.

I have friends who pretty much risked their lifes to escape a communist regime more than 20 years ago. They find it ironic that the economy of the great U.S. of A. is slowly becoming the bureaucratic, government-run pseudo-economy they run away from.[/quote]

I hear ya… I am one of those people…

[Scarlett]

[quote=Diego Mamani]The Fed knows that everybody knows that the housing market is being manipulated. A better title for this post would be:

Dallas Fed Admits that Manipulating Housing Market is Useless

I find it disgusting and 100% unamerican, that the mortgage market today is essentially a government operation. Even though I have approached “private” banks to finance the purchase of my residence and investment properties, these institutions have to follow Fannie and Freddie rules to decide whether to approve my loan. Why? Because the FEDERAL GOVERNMENT (i.e., us taxpayers) purchase mortgages from the banks at what essentially amounts to non-market interest rates.

I have friends who pretty much risked their lifes to escape a communist regime more than 20 years ago. They find it ironic that the economy of the great U.S. of A. is slowly becoming the bureaucratic, government-run pseudo-economy they run away from.[/quote]

I hear ya… I am one of those people…

[Scarlett]

[quote=Diego Mamani]The Fed knows that everybody knows that the housing market is being manipulated. A better title for this post would be:

Dallas Fed Admits that Manipulating Housing Market is Useless

I find it disgusting and 100% unamerican, that the mortgage market today is essentially a government operation. Even though I have approached “private” banks to finance the purchase of my residence and investment properties, these institutions have to follow Fannie and Freddie rules to decide whether to approve my loan. Why? Because the FEDERAL GOVERNMENT (i.e., us taxpayers) purchase mortgages from the banks at what essentially amounts to non-market interest rates.

I have friends who pretty much risked their lifes to escape a communist regime more than 20 years ago. They find it ironic that the economy of the great U.S. of A. is slowly becoming the bureaucratic, government-run pseudo-economy they run away from.[/quote]

I hear ya… I am one of those people…

[Scarlett]

[quote=Diego Mamani]The Fed knows that everybody knows that the housing market is being manipulated. A better title for this post would be:

Dallas Fed Admits that Manipulating Housing Market is Useless

I find it disgusting and 100% unamerican, that the mortgage market today is essentially a government operation. Even though I have approached “private” banks to finance the purchase of my residence and investment properties, these institutions have to follow Fannie and Freddie rules to decide whether to approve my loan. Why? Because the FEDERAL GOVERNMENT (i.e., us taxpayers) purchase mortgages from the banks at what essentially amounts to non-market interest rates.

I have friends who pretty much risked their lifes to escape a communist regime more than 20 years ago. They find it ironic that the economy of the great U.S. of A. is slowly becoming the bureaucratic, government-run pseudo-economy they run away from.[/quote]

I hear ya… I am one of those people…

[Aecetia]

Consumer behavior and what might happen if the banks fail and there are food shortages:

http://www.naturalnews.tv/v.asp?v=70855F9DA9551CA4C8E996A41160FCC7

[Aecetia]

Consumer behavior and what might happen if the banks fail and there are food shortages:

http://www.naturalnews.tv/v.asp?v=70855F9DA9551CA4C8E996A41160FCC7

[Aecetia]

Consumer behavior and what might happen if the banks fail and there are food shortages:

http://www.naturalnews.tv/v.asp?v=70855F9DA9551CA4C8E996A41160FCC7

[Aecetia]

Consumer behavior and what might happen if the banks fail and there are food shortages:

http://www.naturalnews.tv/v.asp?v=70855F9DA9551CA4C8E996A41160FCC7

[Aecetia]

Consumer behavior and what might happen if the banks fail and there are food shortages:

http://www.naturalnews.tv/v.asp?v=70855F9DA9551CA4C8E996A41160FCC7

[CA renter]

[quote=Aecetia]Consumer behavior and what might happen if the banks fail and there are food shortages:

http://www.naturalnews.tv/v.asp?v=70855F9DA9551CA4C8E996A41160FCC7%5B/quote%5D

Which is exactly why “socialist” programs exist in all developed nations — to save the wealthy from these sociopathic freaks. Welfare programs are designed for the benefit of the rich, not the poor.

[CA renter]

[quote=Aecetia]Consumer behavior and what might happen if the banks fail and there are food shortages:

http://www.naturalnews.tv/v.asp?v=70855F9DA9551CA4C8E996A41160FCC7%5B/quote%5D

Which is exactly why “socialist” programs exist in all developed nations — to save the wealthy from these sociopathic freaks. Welfare programs are designed for the benefit of the rich, not the poor.

[CA renter]

[quote=Aecetia]Consumer behavior and what might happen if the banks fail and there are food shortages:

http://www.naturalnews.tv/v.asp?v=70855F9DA9551CA4C8E996A41160FCC7%5B/quote%5D

Which is exactly why “socialist” programs exist in all developed nations — to save the wealthy from these sociopathic freaks. Welfare programs are designed for the benefit of the rich, not the poor.

[CA renter]

[quote=Aecetia]Consumer behavior and what might happen if the banks fail and there are food shortages:

http://www.naturalnews.tv/v.asp?v=70855F9DA9551CA4C8E996A41160FCC7%5B/quote%5D

Which is exactly why “socialist” programs exist in all developed nations — to save the wealthy from these sociopathic freaks. Welfare programs are designed for the benefit of the rich, not the poor.

[Author]

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