The greatest theft in American history…

[pemeliza]

I think people that are wondering why the government is doing what they are doing need to consider these numbers:

“First American CoreLogic reports that 26% of homeowners with a mortgage had substantial equity, or paper profit, in their properties at the end of June in the Los Angeles-Orange area. More data:

* 35% were underwater, owing more than their homes were worth.
* 39% were within 5% of being underwater.”

These numbers are ridiculously bad and likely historically unprecedented. If it is this bad with all the massive intervention, imagine what it would be like without it. We are currently down to 02-03 price levels in most of SD county and probably headed towards 00-01 price levels as it is. Do we really want 95-96 price levels (which were the same as late 80 price levels). That is two lost decades and would be Japan level statistics. I suppose it could happen but I’m pretty sure most people are vastly unprepared for the consequences even if you are sitting on a pile of cash or think you have a stable job.

[Arraya]

[quote=pemeliza]I think people that are wondering why the government is doing what they are doing need to consider these numbers:

“First American CoreLogic reports that 26% of homeowners with a mortgage had substantial equity, or paper profit, in their properties at the end of June in the Los Angeles-Orange area. More data:

* 35% were underwater, owing more than their homes were worth.
* 39% were within 5% of being underwater.”

These numbers are ridiculously bad and likely historically unprecedented. If it is this bad with all the massive intervention, imagine what it would be like without it. We are currently down to 02-03 price levels in most of SD county and probably headed towards 00-01 price levels as it is. Do we really want 95-96 price levels (which were the same as late 80 price levels). That is two lost decades and would be Japan level statistics. I suppose it could happen but I’m pretty sure most people are vastly unprepared for the consequences even if you are sitting on a pile of cash or think you have a stable job.[/quote]

Herein lies the problem. Home prices should be a reaction to economic activity not the driver of it. Somewhere along the way we got turned around backwards and everybody’s thinking is skewed.

The whole “private” banking system is rigged to implode if home prices continue to decline.

Now we are stuck in a losing battle and throwing the farm at keeping home prices elevated while the real economy crashes and burns.

The zeroth bottom line is: We have decided to bankrupt the nation in an attempt to save the banking industry. The sneakiest part of this whole plan is how they try to package it to citizens as keeping home prices high for their benefit, when in actuality the citizens and a consumer based economy benefit from low housing costs.

The die is cast though. We have set a course for complete economic destruction via loss of confidence in the US financial system. Full speed ahead.

[Arraya]

[quote=pemeliza]I think people that are wondering why the government is doing what they are doing need to consider these numbers:

“First American CoreLogic reports that 26% of homeowners with a mortgage had substantial equity, or paper profit, in their properties at the end of June in the Los Angeles-Orange area. More data:

* 35% were underwater, owing more than their homes were worth.
* 39% were within 5% of being underwater.”

These numbers are ridiculously bad and likely historically unprecedented. If it is this bad with all the massive intervention, imagine what it would be like without it. We are currently down to 02-03 price levels in most of SD county and probably headed towards 00-01 price levels as it is. Do we really want 95-96 price levels (which were the same as late 80 price levels). That is two lost decades and would be Japan level statistics. I suppose it could happen but I’m pretty sure most people are vastly unprepared for the consequences even if you are sitting on a pile of cash or think you have a stable job.[/quote]

Herein lies the problem. Home prices should be a reaction to economic activity not the driver of it. Somewhere along the way we got turned around backwards and everybody’s thinking is skewed.

The whole “private” banking system is rigged to implode if home prices continue to decline.

Now we are stuck in a losing battle and throwing the farm at keeping home prices elevated while the real economy crashes and burns.

The zeroth bottom line is: We have decided to bankrupt the nation in an attempt to save the banking industry. The sneakiest part of this whole plan is how they try to package it to citizens as keeping home prices high for their benefit, when in actuality the citizens and a consumer based economy benefit from low housing costs.

The die is cast though. We have set a course for complete economic destruction via loss of confidence in the US financial system. Full speed ahead.

[Arraya]

[quote=pemeliza]I think people that are wondering why the government is doing what they are doing need to consider these numbers:

“First American CoreLogic reports that 26% of homeowners with a mortgage had substantial equity, or paper profit, in their properties at the end of June in the Los Angeles-Orange area. More data:

* 35% were underwater, owing more than their homes were worth.
* 39% were within 5% of being underwater.”

These numbers are ridiculously bad and likely historically unprecedented. If it is this bad with all the massive intervention, imagine what it would be like without it. We are currently down to 02-03 price levels in most of SD county and probably headed towards 00-01 price levels as it is. Do we really want 95-96 price levels (which were the same as late 80 price levels). That is two lost decades and would be Japan level statistics. I suppose it could happen but I’m pretty sure most people are vastly unprepared for the consequences even if you are sitting on a pile of cash or think you have a stable job.[/quote]

Herein lies the problem. Home prices should be a reaction to economic activity not the driver of it. Somewhere along the way we got turned around backwards and everybody’s thinking is skewed.

The whole “private” banking system is rigged to implode if home prices continue to decline.

Now we are stuck in a losing battle and throwing the farm at keeping home prices elevated while the real economy crashes and burns.

The zeroth bottom line is: We have decided to bankrupt the nation in an attempt to save the banking industry. The sneakiest part of this whole plan is how they try to package it to citizens as keeping home prices high for their benefit, when in actuality the citizens and a consumer based economy benefit from low housing costs.

The die is cast though. We have set a course for complete economic destruction via loss of confidence in the US financial system. Full speed ahead.

[Arraya]

[quote=pemeliza]I think people that are wondering why the government is doing what they are doing need to consider these numbers:

“First American CoreLogic reports that 26% of homeowners with a mortgage had substantial equity, or paper profit, in their properties at the end of June in the Los Angeles-Orange area. More data:

* 35% were underwater, owing more than their homes were worth.
* 39% were within 5% of being underwater.”

These numbers are ridiculously bad and likely historically unprecedented. If it is this bad with all the massive intervention, imagine what it would be like without it. We are currently down to 02-03 price levels in most of SD county and probably headed towards 00-01 price levels as it is. Do we really want 95-96 price levels (which were the same as late 80 price levels). That is two lost decades and would be Japan level statistics. I suppose it could happen but I’m pretty sure most people are vastly unprepared for the consequences even if you are sitting on a pile of cash or think you have a stable job.[/quote]

Herein lies the problem. Home prices should be a reaction to economic activity not the driver of it. Somewhere along the way we got turned around backwards and everybody’s thinking is skewed.

The whole “private” banking system is rigged to implode if home prices continue to decline.

Now we are stuck in a losing battle and throwing the farm at keeping home prices elevated while the real economy crashes and burns.

The zeroth bottom line is: We have decided to bankrupt the nation in an attempt to save the banking industry. The sneakiest part of this whole plan is how they try to package it to citizens as keeping home prices high for their benefit, when in actuality the citizens and a consumer based economy benefit from low housing costs.

The die is cast though. We have set a course for complete economic destruction via loss of confidence in the US financial system. Full speed ahead.

[Arraya]

[quote=pemeliza]I think people that are wondering why the government is doing what they are doing need to consider these numbers:

“First American CoreLogic reports that 26% of homeowners with a mortgage had substantial equity, or paper profit, in their properties at the end of June in the Los Angeles-Orange area. More data:

* 35% were underwater, owing more than their homes were worth.
* 39% were within 5% of being underwater.”

These numbers are ridiculously bad and likely historically unprecedented. If it is this bad with all the massive intervention, imagine what it would be like without it. We are currently down to 02-03 price levels in most of SD county and probably headed towards 00-01 price levels as it is. Do we really want 95-96 price levels (which were the same as late 80 price levels). That is two lost decades and would be Japan level statistics. I suppose it could happen but I’m pretty sure most people are vastly unprepared for the consequences even if you are sitting on a pile of cash or think you have a stable job.[/quote]

Herein lies the problem. Home prices should be a reaction to economic activity not the driver of it. Somewhere along the way we got turned around backwards and everybody’s thinking is skewed.

The whole “private” banking system is rigged to implode if home prices continue to decline.

Now we are stuck in a losing battle and throwing the farm at keeping home prices elevated while the real economy crashes and burns.

The zeroth bottom line is: We have decided to bankrupt the nation in an attempt to save the banking industry. The sneakiest part of this whole plan is how they try to package it to citizens as keeping home prices high for their benefit, when in actuality the citizens and a consumer based economy benefit from low housing costs.

The die is cast though. We have set a course for complete economic destruction via loss of confidence in the US financial system. Full speed ahead.

[aldante]

What is really sad is that those of us who agree are looked at as marginal. That this thought is somehow politically motivated. I can not speak for anyone else on this post. But for me this has nothing to do with political parties. My discontent is the same as some one who has been vandalized. That is what this scheme amounts to. Being robbed by those in power. It is no different (except on a grander scale)then the crooked cop who enforces the rules and keeps some people happy so his back is being watched. Please do not mistake who I think the cop is….is is not Obama any more then it was Bush. They don’t stand a chance against the Bankers.

The only way to make this end is to end the FED.

[aldante]

What is really sad is that those of us who agree are looked at as marginal. That this thought is somehow politically motivated. I can not speak for anyone else on this post. But for me this has nothing to do with political parties. My discontent is the same as some one who has been vandalized. That is what this scheme amounts to. Being robbed by those in power. It is no different (except on a grander scale)then the crooked cop who enforces the rules and keeps some people happy so his back is being watched. Please do not mistake who I think the cop is….is is not Obama any more then it was Bush. They don’t stand a chance against the Bankers.

The only way to make this end is to end the FED.

[aldante]

What is really sad is that those of us who agree are looked at as marginal. That this thought is somehow politically motivated. I can not speak for anyone else on this post. But for me this has nothing to do with political parties. My discontent is the same as some one who has been vandalized. That is what this scheme amounts to. Being robbed by those in power. It is no different (except on a grander scale)then the crooked cop who enforces the rules and keeps some people happy so his back is being watched. Please do not mistake who I think the cop is….is is not Obama any more then it was Bush. They don’t stand a chance against the Bankers.

The only way to make this end is to end the FED.

[aldante]

What is really sad is that those of us who agree are looked at as marginal. That this thought is somehow politically motivated. I can not speak for anyone else on this post. But for me this has nothing to do with political parties. My discontent is the same as some one who has been vandalized. That is what this scheme amounts to. Being robbed by those in power. It is no different (except on a grander scale)then the crooked cop who enforces the rules and keeps some people happy so his back is being watched. Please do not mistake who I think the cop is….is is not Obama any more then it was Bush. They don’t stand a chance against the Bankers.

The only way to make this end is to end the FED.

[aldante]

What is really sad is that those of us who agree are looked at as marginal. That this thought is somehow politically motivated. I can not speak for anyone else on this post. But for me this has nothing to do with political parties. My discontent is the same as some one who has been vandalized. That is what this scheme amounts to. Being robbed by those in power. It is no different (except on a grander scale)then the crooked cop who enforces the rules and keeps some people happy so his back is being watched. Please do not mistake who I think the cop is….is is not Obama any more then it was Bush. They don’t stand a chance against the Bankers.

The only way to make this end is to end the FED.

[briansd1]

[quote=Arraya] The sneakiest part of this whole plan is how they try to package it to citizens as keeping home prices high for their benefit, when in actuality the citizens and a consumer based economy benefit from low housing costs.[/quote]

I agree with you there.

But that would mean that people stop paying interest to the banks.

People have been consuming thanks to equity extraction.

It’s unbelievable to me that that so many American families are at the end of the rope. You’d think that after generations, parents had left enough wealth to their offsprings so that the young generations wouldn’t be in so much debt.

What ever happened to the argument from the real estate industry that you buy a house with the goal of paying it off by the time you retire? If that were true, then kids and grandkids would have very little needs to incur housing debts of their own.

But it’s the other way around. Debts rose in proportion to housing value.

[briansd1]

[quote=Arraya] The sneakiest part of this whole plan is how they try to package it to citizens as keeping home prices high for their benefit, when in actuality the citizens and a consumer based economy benefit from low housing costs.[/quote]

I agree with you there.

But that would mean that people stop paying interest to the banks.

People have been consuming thanks to equity extraction.

It’s unbelievable to me that that so many American families are at the end of the rope. You’d think that after generations, parents had left enough wealth to their offsprings so that the young generations wouldn’t be in so much debt.

What ever happened to the argument from the real estate industry that you buy a house with the goal of paying it off by the time you retire? If that were true, then kids and grandkids would have very little needs to incur housing debts of their own.

But it’s the other way around. Debts rose in proportion to housing value.

[briansd1]

[quote=Arraya] The sneakiest part of this whole plan is how they try to package it to citizens as keeping home prices high for their benefit, when in actuality the citizens and a consumer based economy benefit from low housing costs.[/quote]

I agree with you there.

But that would mean that people stop paying interest to the banks.

People have been consuming thanks to equity extraction.

It’s unbelievable to me that that so many American families are at the end of the rope. You’d think that after generations, parents had left enough wealth to their offsprings so that the young generations wouldn’t be in so much debt.

What ever happened to the argument from the real estate industry that you buy a house with the goal of paying it off by the time you retire? If that were true, then kids and grandkids would have very little needs to incur housing debts of their own.

But it’s the other way around. Debts rose in proportion to housing value.

[briansd1]

[quote=Arraya] The sneakiest part of this whole plan is how they try to package it to citizens as keeping home prices high for their benefit, when in actuality the citizens and a consumer based economy benefit from low housing costs.[/quote]

I agree with you there.

But that would mean that people stop paying interest to the banks.

People have been consuming thanks to equity extraction.

It’s unbelievable to me that that so many American families are at the end of the rope. You’d think that after generations, parents had left enough wealth to their offsprings so that the young generations wouldn’t be in so much debt.

What ever happened to the argument from the real estate industry that you buy a house with the goal of paying it off by the time you retire? If that were true, then kids and grandkids would have very little needs to incur housing debts of their own.

But it’s the other way around. Debts rose in proportion to housing value.

[Author]

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