I’m digging up this overdone topic again.

[sdrealtor]

While I dont agree with BGIG’s feelings re: the level of the drops w/o intervention the rest seems to be pretty spot on.

[sdduuuude]

[quote=BigGovernmentIsGood]I think the government has found a level for housing that they are comfortable with. They’ve bailed out all their cronies at the top and now we are likely to see a government-supported stagnant market that lasts for the next 10 years or so.[/quote]

Agree with you here. Yay Big Government for bailing out their cronies at the top !!

[sdduuuude]

[quote=BigGovernmentIsGood]I think the government has found a level for housing that they are comfortable with. They’ve bailed out all their cronies at the top and now we are likely to see a government-supported stagnant market that lasts for the next 10 years or so.[/quote]

Agree with you here. Yay Big Government for bailing out their cronies at the top !!

[sdduuuude]

[quote=BigGovernmentIsGood]I think the government has found a level for housing that they are comfortable with. They’ve bailed out all their cronies at the top and now we are likely to see a government-supported stagnant market that lasts for the next 10 years or so.[/quote]

Agree with you here. Yay Big Government for bailing out their cronies at the top !!

[sdduuuude]

[quote=BigGovernmentIsGood]I think the government has found a level for housing that they are comfortable with. They’ve bailed out all their cronies at the top and now we are likely to see a government-supported stagnant market that lasts for the next 10 years or so.[/quote]

Agree with you here. Yay Big Government for bailing out their cronies at the top !!

[sdduuuude]

[quote=BigGovernmentIsGood]I think the government has found a level for housing that they are comfortable with. They’ve bailed out all their cronies at the top and now we are likely to see a government-supported stagnant market that lasts for the next 10 years or so.[/quote]

Agree with you here. Yay Big Government for bailing out their cronies at the top !!

[joec]

Another thing is that housing has always been propped up, encouraged to own, etc…

Where else is there a 250k/500k income tax free capital gains exclusion? A lot of my friends’ parents took advantage of this when it was first available by selling their existing home, moving, repeat every two years to diversify out of their holdings…

You also get the tax write off on mortgages and property tax.

Any others?

[joec]

Another thing is that housing has always been propped up, encouraged to own, etc…

Where else is there a 250k/500k income tax free capital gains exclusion? A lot of my friends’ parents took advantage of this when it was first available by selling their existing home, moving, repeat every two years to diversify out of their holdings…

You also get the tax write off on mortgages and property tax.

Any others?

[joec]

Another thing is that housing has always been propped up, encouraged to own, etc…

Where else is there a 250k/500k income tax free capital gains exclusion? A lot of my friends’ parents took advantage of this when it was first available by selling their existing home, moving, repeat every two years to diversify out of their holdings…

You also get the tax write off on mortgages and property tax.

Any others?

[joec]

Another thing is that housing has always been propped up, encouraged to own, etc…

Where else is there a 250k/500k income tax free capital gains exclusion? A lot of my friends’ parents took advantage of this when it was first available by selling their existing home, moving, repeat every two years to diversify out of their holdings…

You also get the tax write off on mortgages and property tax.

Any others?

[joec]

Another thing is that housing has always been propped up, encouraged to own, etc…

Where else is there a 250k/500k income tax free capital gains exclusion? A lot of my friends’ parents took advantage of this when it was first available by selling their existing home, moving, repeat every two years to diversify out of their holdings…

You also get the tax write off on mortgages and property tax.

Any others?

[CA renter]

[quote=BigGovernmentIsGood]The problem (at least if you are a buyer) is that the government has all kinds of tricks they can use to prop up the market. The government can encourage more zero-down loans, the Fed can buy $1 trillion in MBS at the drop of a hat, the Treasury can encourage banks to continue to hold on to all that inventory, the government can continue to suspend mark-to-market, and on and on and on.

The housing market doesn’t come close to resembling anything like a free market with all the government intervention. Hosing would probably be 50% lower if the government hadn’t intervened. If every buyer had to put down 20%, housing would probably be 70% lower.

I think the government has found a level for housing that they are comfortable with. They’ve bailed out all their cronies at the top and now we are likely to see a government-supported stagnant market that lasts for the next 10 years or so.[/quote]

Yep. Which is exactly why we don’t want to buy. If we felt that the govt/banks were out of the way and that the bond and housing markets were allowed to move freely (with 20% down, at a minimum), we would buy today.

[CA renter]

[quote=BigGovernmentIsGood]The problem (at least if you are a buyer) is that the government has all kinds of tricks they can use to prop up the market. The government can encourage more zero-down loans, the Fed can buy $1 trillion in MBS at the drop of a hat, the Treasury can encourage banks to continue to hold on to all that inventory, the government can continue to suspend mark-to-market, and on and on and on.

The housing market doesn’t come close to resembling anything like a free market with all the government intervention. Hosing would probably be 50% lower if the government hadn’t intervened. If every buyer had to put down 20%, housing would probably be 70% lower.

I think the government has found a level for housing that they are comfortable with. They’ve bailed out all their cronies at the top and now we are likely to see a government-supported stagnant market that lasts for the next 10 years or so.[/quote]

Yep. Which is exactly why we don’t want to buy. If we felt that the govt/banks were out of the way and that the bond and housing markets were allowed to move freely (with 20% down, at a minimum), we would buy today.

[CA renter]

[quote=BigGovernmentIsGood]The problem (at least if you are a buyer) is that the government has all kinds of tricks they can use to prop up the market. The government can encourage more zero-down loans, the Fed can buy $1 trillion in MBS at the drop of a hat, the Treasury can encourage banks to continue to hold on to all that inventory, the government can continue to suspend mark-to-market, and on and on and on.

The housing market doesn’t come close to resembling anything like a free market with all the government intervention. Hosing would probably be 50% lower if the government hadn’t intervened. If every buyer had to put down 20%, housing would probably be 70% lower.

I think the government has found a level for housing that they are comfortable with. They’ve bailed out all their cronies at the top and now we are likely to see a government-supported stagnant market that lasts for the next 10 years or so.[/quote]

Yep. Which is exactly why we don’t want to buy. If we felt that the govt/banks were out of the way and that the bond and housing markets were allowed to move freely (with 20% down, at a minimum), we would buy today.

[CA renter]

[quote=BigGovernmentIsGood]The problem (at least if you are a buyer) is that the government has all kinds of tricks they can use to prop up the market. The government can encourage more zero-down loans, the Fed can buy $1 trillion in MBS at the drop of a hat, the Treasury can encourage banks to continue to hold on to all that inventory, the government can continue to suspend mark-to-market, and on and on and on.

The housing market doesn’t come close to resembling anything like a free market with all the government intervention. Hosing would probably be 50% lower if the government hadn’t intervened. If every buyer had to put down 20%, housing would probably be 70% lower.

I think the government has found a level for housing that they are comfortable with. They’ve bailed out all their cronies at the top and now we are likely to see a government-supported stagnant market that lasts for the next 10 years or so.[/quote]

Yep. Which is exactly why we don’t want to buy. If we felt that the govt/banks were out of the way and that the bond and housing markets were allowed to move freely (with 20% down, at a minimum), we would buy today.

[Author]

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