Mortgage relief program expanded?

[peterb]

I dont think loan mods have done too much, nor any other home owner “bailout” plan. But foreclosure moratoria and banks desire to stay solvent have been the real blockers in this market. Home owners dont have lobbiest, so I doubt very much they’ll be saved. Just sayin what I see.

[patientrenter]

“Homeowners don’t have a lobby”. You seem not to be joking, so I suppose you are serious. Homeowners are the main drivers of this entire massive government intervention. They are maybe 3/4 of all voters. Various people wield some power in our political process, but every dollar starts in Congress. Congressmen like a lot of things, but getting re-elected comes first.

Sure, careless investors who loaned too much money to people who were overpaying for homes are also trying to avoid the appropriate consequences, and there are a few hundred thousand of them, and they are mostly wealthy. But the politicians aren’t bailing them out directly – they are aiming to instead keep homes overpriced. That way homeowners get what they want too. Re-election. It’s magical.

[patientrenter]

“Homeowners don’t have a lobby”. You seem not to be joking, so I suppose you are serious. Homeowners are the main drivers of this entire massive government intervention. They are maybe 3/4 of all voters. Various people wield some power in our political process, but every dollar starts in Congress. Congressmen like a lot of things, but getting re-elected comes first.

Sure, careless investors who loaned too much money to people who were overpaying for homes are also trying to avoid the appropriate consequences, and there are a few hundred thousand of them, and they are mostly wealthy. But the politicians aren’t bailing them out directly – they are aiming to instead keep homes overpriced. That way homeowners get what they want too. Re-election. It’s magical.

[patientrenter]

“Homeowners don’t have a lobby”. You seem not to be joking, so I suppose you are serious. Homeowners are the main drivers of this entire massive government intervention. They are maybe 3/4 of all voters. Various people wield some power in our political process, but every dollar starts in Congress. Congressmen like a lot of things, but getting re-elected comes first.

Sure, careless investors who loaned too much money to people who were overpaying for homes are also trying to avoid the appropriate consequences, and there are a few hundred thousand of them, and they are mostly wealthy. But the politicians aren’t bailing them out directly – they are aiming to instead keep homes overpriced. That way homeowners get what they want too. Re-election. It’s magical.

[patientrenter]

“Homeowners don’t have a lobby”. You seem not to be joking, so I suppose you are serious. Homeowners are the main drivers of this entire massive government intervention. They are maybe 3/4 of all voters. Various people wield some power in our political process, but every dollar starts in Congress. Congressmen like a lot of things, but getting re-elected comes first.

Sure, careless investors who loaned too much money to people who were overpaying for homes are also trying to avoid the appropriate consequences, and there are a few hundred thousand of them, and they are mostly wealthy. But the politicians aren’t bailing them out directly – they are aiming to instead keep homes overpriced. That way homeowners get what they want too. Re-election. It’s magical.

[patientrenter]

“Homeowners don’t have a lobby”. You seem not to be joking, so I suppose you are serious. Homeowners are the main drivers of this entire massive government intervention. They are maybe 3/4 of all voters. Various people wield some power in our political process, but every dollar starts in Congress. Congressmen like a lot of things, but getting re-elected comes first.

Sure, careless investors who loaned too much money to people who were overpaying for homes are also trying to avoid the appropriate consequences, and there are a few hundred thousand of them, and they are mostly wealthy. But the politicians aren’t bailing them out directly – they are aiming to instead keep homes overpriced. That way homeowners get what they want too. Re-election. It’s magical.

[peterb]

I would look very closely at who has benefited from the various bailouts that have taken place thus far. Certain banks and some companies.
Home owners have been ,and are in , foreclosure in absolutely all-time record levels. The various talk of loan modifications etc…has mostly been talk, not action. As Rich has shown, shadow inventory looks to be very real. I dont see this as saving the home owners at all. These are delaying tactics, but not actually saving homeowners. Many banks now look to be headed south at this time as well.

[peterb]

I would look very closely at who has benefited from the various bailouts that have taken place thus far. Certain banks and some companies.
Home owners have been ,and are in , foreclosure in absolutely all-time record levels. The various talk of loan modifications etc…has mostly been talk, not action. As Rich has shown, shadow inventory looks to be very real. I dont see this as saving the home owners at all. These are delaying tactics, but not actually saving homeowners. Many banks now look to be headed south at this time as well.

[peterb]

I would look very closely at who has benefited from the various bailouts that have taken place thus far. Certain banks and some companies.
Home owners have been ,and are in , foreclosure in absolutely all-time record levels. The various talk of loan modifications etc…has mostly been talk, not action. As Rich has shown, shadow inventory looks to be very real. I dont see this as saving the home owners at all. These are delaying tactics, but not actually saving homeowners. Many banks now look to be headed south at this time as well.

[peterb]

I would look very closely at who has benefited from the various bailouts that have taken place thus far. Certain banks and some companies.
Home owners have been ,and are in , foreclosure in absolutely all-time record levels. The various talk of loan modifications etc…has mostly been talk, not action. As Rich has shown, shadow inventory looks to be very real. I dont see this as saving the home owners at all. These are delaying tactics, but not actually saving homeowners. Many banks now look to be headed south at this time as well.

[peterb]

I would look very closely at who has benefited from the various bailouts that have taken place thus far. Certain banks and some companies.
Home owners have been ,and are in , foreclosure in absolutely all-time record levels. The various talk of loan modifications etc…has mostly been talk, not action. As Rich has shown, shadow inventory looks to be very real. I dont see this as saving the home owners at all. These are delaying tactics, but not actually saving homeowners. Many banks now look to be headed south at this time as well.

[patientrenter]

Take a look at the Fed Flow of Funds. Home values in the aggregate exceed bank equity in the aggregate by many, many multiples. Without all the money poured into the housing market by the government in the last 2 years, home prices would be much lower than they are now. The gvt injections may have prevented bank equity from going all the way from a trillion or so down to zero, but they held home values up by many, many trillions above their true (unsupported) value. Homeowners are receiving by far the largest amount of benefit from the govt bailouts. Do the math.

[patientrenter]

Take a look at the Fed Flow of Funds. Home values in the aggregate exceed bank equity in the aggregate by many, many multiples. Without all the money poured into the housing market by the government in the last 2 years, home prices would be much lower than they are now. The gvt injections may have prevented bank equity from going all the way from a trillion or so down to zero, but they held home values up by many, many trillions above their true (unsupported) value. Homeowners are receiving by far the largest amount of benefit from the govt bailouts. Do the math.

[patientrenter]

Take a look at the Fed Flow of Funds. Home values in the aggregate exceed bank equity in the aggregate by many, many multiples. Without all the money poured into the housing market by the government in the last 2 years, home prices would be much lower than they are now. The gvt injections may have prevented bank equity from going all the way from a trillion or so down to zero, but they held home values up by many, many trillions above their true (unsupported) value. Homeowners are receiving by far the largest amount of benefit from the govt bailouts. Do the math.

[patientrenter]

Take a look at the Fed Flow of Funds. Home values in the aggregate exceed bank equity in the aggregate by many, many multiples. Without all the money poured into the housing market by the government in the last 2 years, home prices would be much lower than they are now. The gvt injections may have prevented bank equity from going all the way from a trillion or so down to zero, but they held home values up by many, many trillions above their true (unsupported) value. Homeowners are receiving by far the largest amount of benefit from the govt bailouts. Do the math.

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