Forbes: Housing Woes Hit High End Too

[lindismith]

great post Cyphire.

I get more and more disgusted everyday.

Barry’s blog has a link to all the CDO insider stuff that went on. Completely appalling. It’s graft.

http://bigpicture.typepad.com/comments/2007/08/cdo-insiders-we.html

[mgubnyc1]

cyphire, beautifully put, you are so right!!

So if what you say is all true, and I think it is, when home prices or if home prices fall to 2002 levels, how is this going to help the middle class, other then have a bigger house a smaller mortgage and more tax’s were still going to be heading down the same path.

[mgubnyc1]

cyphire, beautifully put, you are so right!!

So if what you say is all true, and I think it is, when home prices or if home prices fall to 2002 levels, how is this going to help the middle class, other then have a bigger house a smaller mortgage and more tax’s were still going to be heading down the same path.

[mgubnyc1]

cyphire, beautifully put, you are so right!!

So if what you say is all true, and I think it is, when home prices or if home prices fall to 2002 levels, how is this going to help the middle class, other then have a bigger house a smaller mortgage and more tax’s were still going to be heading down the same path.

[temeculaguy]

mgu, why does it result in higher taxes? 2002 prices lower the property taxes significantly. Are you saying that when there in asset bubble that pops, income taxes are increased, show me an example of when that has happened. Dot com bubble, my income taxes went down, 90’s R/E bubble, my taxes stayed the same. The dems will probably take the white house and repeal the recent tax cuts but that only brings them back to where they were and for the middle class it wasn’t that much of a decline, easily offset by cutting one’s property taxes in half. For those who don’t sell they can still appeal to have their property taxes lowered. ( no political party endorsement, hate em both, just an observation and I write in Ross Perot’s name every time cause it make me smile)

You need to stop listening to politicians with regards to a taxpayer funded bailout, if anything happens it will be more ceremonial than concrete. Both parties know that no nation has ever taxed itself into prosperity, they are just trying to get votes, turn the t.v. off until November 2008 and ignore the rhetoric.

Here’s the math, a midlle class family buys a 500k home and pays 4k a month, next year a similar will buy the same house for 250k and pay 2k a month. A 100k family doesn’t even pay 25k a year in income tax, check your 2006 taxes. But now they will save 25k a year on mortgage expenses, are you saying the income tax rates will double? Not a chance.

Final answer, lower home prices benefit the middle class, any bailout will be for show, war ends and taxes rise marginally at best, probably no more than your cable bill.

[temeculaguy]

mgu, why does it result in higher taxes? 2002 prices lower the property taxes significantly. Are you saying that when there in asset bubble that pops, income taxes are increased, show me an example of when that has happened. Dot com bubble, my income taxes went down, 90’s R/E bubble, my taxes stayed the same. The dems will probably take the white house and repeal the recent tax cuts but that only brings them back to where they were and for the middle class it wasn’t that much of a decline, easily offset by cutting one’s property taxes in half. For those who don’t sell they can still appeal to have their property taxes lowered. ( no political party endorsement, hate em both, just an observation and I write in Ross Perot’s name every time cause it make me smile)

You need to stop listening to politicians with regards to a taxpayer funded bailout, if anything happens it will be more ceremonial than concrete. Both parties know that no nation has ever taxed itself into prosperity, they are just trying to get votes, turn the t.v. off until November 2008 and ignore the rhetoric.

Here’s the math, a midlle class family buys a 500k home and pays 4k a month, next year a similar will buy the same house for 250k and pay 2k a month. A 100k family doesn’t even pay 25k a year in income tax, check your 2006 taxes. But now they will save 25k a year on mortgage expenses, are you saying the income tax rates will double? Not a chance.

Final answer, lower home prices benefit the middle class, any bailout will be for show, war ends and taxes rise marginally at best, probably no more than your cable bill.

[temeculaguy]

mgu, why does it result in higher taxes? 2002 prices lower the property taxes significantly. Are you saying that when there in asset bubble that pops, income taxes are increased, show me an example of when that has happened. Dot com bubble, my income taxes went down, 90’s R/E bubble, my taxes stayed the same. The dems will probably take the white house and repeal the recent tax cuts but that only brings them back to where they were and for the middle class it wasn’t that much of a decline, easily offset by cutting one’s property taxes in half. For those who don’t sell they can still appeal to have their property taxes lowered. ( no political party endorsement, hate em both, just an observation and I write in Ross Perot’s name every time cause it make me smile)

You need to stop listening to politicians with regards to a taxpayer funded bailout, if anything happens it will be more ceremonial than concrete. Both parties know that no nation has ever taxed itself into prosperity, they are just trying to get votes, turn the t.v. off until November 2008 and ignore the rhetoric.

Here’s the math, a midlle class family buys a 500k home and pays 4k a month, next year a similar will buy the same house for 250k and pay 2k a month. A 100k family doesn’t even pay 25k a year in income tax, check your 2006 taxes. But now they will save 25k a year on mortgage expenses, are you saying the income tax rates will double? Not a chance.

Final answer, lower home prices benefit the middle class, any bailout will be for show, war ends and taxes rise marginally at best, probably no more than your cable bill.

[cr]

Here we go again, another clueless troll trying to stir the pot for his own gratification out of fear that his $100k in equity he gained fromm 2005-2006 might go away, all because us Piggingtonns said it would.

You say what you want, and we’ll say what we want. Come back in a year and see who’s right.

Telling people to go earn more money is a completely ignorant statement.

You related to Alex_anger?

[cr]

Here we go again, another clueless troll trying to stir the pot for his own gratification out of fear that his $100k in equity he gained fromm 2005-2006 might go away, all because us Piggingtonns said it would.

You say what you want, and we’ll say what we want. Come back in a year and see who’s right.

Telling people to go earn more money is a completely ignorant statement.

You related to Alex_anger?

[cr]

Here we go again, another clueless troll trying to stir the pot for his own gratification out of fear that his $100k in equity he gained fromm 2005-2006 might go away, all because us Piggingtonns said it would.

You say what you want, and we’ll say what we want. Come back in a year and see who’s right.

Telling people to go earn more money is a completely ignorant statement.

You related to Alex_anger?

[donaldduckmoore]

mgubnyc1, a lot of the RE prices in the US are overly inflated, I am not sure about west of 5 because I never paid any attention to that area. But if you are not a flipper or doing business based on RE market, you should not be worried. The ups and downs of home prices are normal cycles. It comes down today, it will go up tomorrow. We do not love bad news and we do not want to see the overall economy go busted, but RE these days must come down to a more normal market.

[donaldduckmoore]

mgubnyc1, a lot of the RE prices in the US are overly inflated, I am not sure about west of 5 because I never paid any attention to that area. But if you are not a flipper or doing business based on RE market, you should not be worried. The ups and downs of home prices are normal cycles. It comes down today, it will go up tomorrow. We do not love bad news and we do not want to see the overall economy go busted, but RE these days must come down to a more normal market.

[donaldduckmoore]

mgubnyc1, a lot of the RE prices in the US are overly inflated, I am not sure about west of 5 because I never paid any attention to that area. But if you are not a flipper or doing business based on RE market, you should not be worried. The ups and downs of home prices are normal cycles. It comes down today, it will go up tomorrow. We do not love bad news and we do not want to see the overall economy go busted, but RE these days must come down to a more normal market.

[Arraya]

It always brings out the best in the board when a newbie comes in says something ignorant. Solid entertainment with some great insight!

Thanks

[Arraya]

It always brings out the best in the board when a newbie comes in says something ignorant. Solid entertainment with some great insight!

Thanks

[Author]

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