[jonnycsd]

SD Realtor, I think we are talking past eachother here. IMHO I see the forest quite well – what I am looking for are details on some of the larger government interventions. There are no large actions described as part of the Senate bill that is the topic of this post.

I am sorry if you feel you should not have been renting. I believe that prudent people will all come out ahead. Having a catastrophic revaluation leading to depression and simulataneous dollar devaluation would not help anyone, and would really hurt renter/savers who depend on current year income or dollar denominated savings to buy groceries.

Free markets that operate well are regulated in many ways – look at US Equities – there are extensive trading rules, suspensions of trading when price movements are excessive, and substantial financial disclosure and reporting rules. A free market with market based pricing does not mean a free for all with no rules. Thankfully the Federal government is shoring up some of the wild west that characterized the housing/mortgage markets of the last 10 years.

Six months ago I wrote on this site that the correction would not all come in the form of a correction in real values alone (which would be a catastrophe for every American), but would also be facilitated by higher than normal inflation and targeted interventions by the government.

It is not clear to me that targeted interventions by the government are bad for the prudent per se. An orderly revaluation is in everyones best interest and allows renters becoming buyers to be secure in thier own financial situation.

So the challenge is that the government needs to intervene but in a reasonable way that doesn’t put too much burden on savers and tax payers.

Which is what I am asking for – any links to articles that detail the larger interventions involving financial transfers (like the $300BB one that people talk aobut a lot but seems to be without specifics or detail). I am seeing a forest and LOOKING FOR the trees.

Thanks in advance.

[jonnycsd]

SD Realtor, yes, I have heard the $300BB number. However, I do not see it mentioned in the NYTs coverage of the bipartisan bill coming together in the Senate.

Is the $300BB a real / approved plan? Any insight on how it will be executed? Any links to articles explaining it would be much appreciated.

[jonnycsd]

SD Realtor, yes, I have heard the $300BB number. However, I do not see it mentioned in the NYTs coverage of the bipartisan bill coming together in the Senate.

Is the $300BB a real / approved plan? Any insight on how it will be executed? Any links to articles explaining it would be much appreciated.

[jonnycsd]

SD Realtor, yes, I have heard the $300BB number. However, I do not see it mentioned in the NYTs coverage of the bipartisan bill coming together in the Senate.

Is the $300BB a real / approved plan? Any insight on how it will be executed? Any links to articles explaining it would be much appreciated.

[jonnycsd]

SD Realtor, yes, I have heard the $300BB number. However, I do not see it mentioned in the NYTs coverage of the bipartisan bill coming together in the Senate.

Is the $300BB a real / approved plan? Any insight on how it will be executed? Any links to articles explaining it would be much appreciated.

[jonnycsd]

SD Realtor, yes, I have heard the $300BB number. However, I do not see it mentioned in the NYTs coverage of the bipartisan bill coming together in the Senate.

Is the $300BB a real / approved plan? Any insight on how it will be executed? Any links to articles explaining it would be much appreciated.

[jonnycsd]

Am I missing something here? This seems like a drop in the bucket – $4 billion in grants against against many hundreds of $billions in write downs so far (and more to come!).

And a $7K tax credit for buyers of foreclosed properties – hell that will hardly pay for new carpet and landscaping. This is just a little grease for the people who are sitting on the sidelines waiting to buy. It is a $7K gift to every Piggington waiting to buy.

Sounds to me like the senate is going to let the market take its course. Might as well be giving lenders the finger and basically telling them to F.O.

What am I missing?

[jonnycsd]

Am I missing something here? This seems like a drop in the bucket – $4 billion in grants against against many hundreds of $billions in write downs so far (and more to come!).

And a $7K tax credit for buyers of foreclosed properties – hell that will hardly pay for new carpet and landscaping. This is just a little grease for the people who are sitting on the sidelines waiting to buy. It is a $7K gift to every Piggington waiting to buy.

Sounds to me like the senate is going to let the market take its course. Might as well be giving lenders the finger and basically telling them to F.O.

What am I missing?

[jonnycsd]

Am I missing something here? This seems like a drop in the bucket – $4 billion in grants against against many hundreds of $billions in write downs so far (and more to come!).

And a $7K tax credit for buyers of foreclosed properties – hell that will hardly pay for new carpet and landscaping. This is just a little grease for the people who are sitting on the sidelines waiting to buy. It is a $7K gift to every Piggington waiting to buy.

Sounds to me like the senate is going to let the market take its course. Might as well be giving lenders the finger and basically telling them to F.O.

What am I missing?

[jonnycsd]

Am I missing something here? This seems like a drop in the bucket – $4 billion in grants against against many hundreds of $billions in write downs so far (and more to come!).

And a $7K tax credit for buyers of foreclosed properties – hell that will hardly pay for new carpet and landscaping. This is just a little grease for the people who are sitting on the sidelines waiting to buy. It is a $7K gift to every Piggington waiting to buy.

Sounds to me like the senate is going to let the market take its course. Might as well be giving lenders the finger and basically telling them to F.O.

What am I missing?

[jonnycsd]

Am I missing something here? This seems like a drop in the bucket – $4 billion in grants against against many hundreds of $billions in write downs so far (and more to come!).

And a $7K tax credit for buyers of foreclosed properties – hell that will hardly pay for new carpet and landscaping. This is just a little grease for the people who are sitting on the sidelines waiting to buy. It is a $7K gift to every Piggington waiting to buy.

Sounds to me like the senate is going to let the market take its course. Might as well be giving lenders the finger and basically telling them to F.O.

What am I missing?

[jonnycsd]

DWCAP – I was not suggesting that anyone should go buy real estate now. The OP sounds like a worried home owner, and I just pointed out that if someone is really worried about inflation – well real estate is a traditional inflation hedge. It has worked really well in that capacity for thousands of years.

For me and my unique situation, buying last year made sense, and still does. The ability to open a decent size dollar short position with no carrying costs is just great. The house is cool, and is a long term luxury. I don’t much care what valuation does over the next 15 years. My son will inherit our beach house some day, it will likely never be sold.

I am not following your ideas on “non-productive” investment. Are there thousands upon thousands of empty homes somewhere? For the few (in percentage terms) that are empty, will not a growing population soak that up pretty quick? If not, don’t we need a ton of new construction every year just to replace old homes that are torn down or converted to coffee shops or whatever? And since homes are long lived assets, even if a few extra were built the last three years won’t they eventually find a good use? I mean really, its not like we just built 1 million homes that will be empty, never-lived-in and rotting away 5 years from now, right? New home supply may have gotten ahead of its self a little, but, IMHO it is nothing like the valuation overhang we have.

[jonnycsd]

DWCAP – I was not suggesting that anyone should go buy real estate now. The OP sounds like a worried home owner, and I just pointed out that if someone is really worried about inflation – well real estate is a traditional inflation hedge. It has worked really well in that capacity for thousands of years.

For me and my unique situation, buying last year made sense, and still does. The ability to open a decent size dollar short position with no carrying costs is just great. The house is cool, and is a long term luxury. I don’t much care what valuation does over the next 15 years. My son will inherit our beach house some day, it will likely never be sold.

I am not following your ideas on “non-productive” investment. Are there thousands upon thousands of empty homes somewhere? For the few (in percentage terms) that are empty, will not a growing population soak that up pretty quick? If not, don’t we need a ton of new construction every year just to replace old homes that are torn down or converted to coffee shops or whatever? And since homes are long lived assets, even if a few extra were built the last three years won’t they eventually find a good use? I mean really, its not like we just built 1 million homes that will be empty, never-lived-in and rotting away 5 years from now, right? New home supply may have gotten ahead of its self a little, but, IMHO it is nothing like the valuation overhang we have.

[jonnycsd]

DWCAP – I was not suggesting that anyone should go buy real estate now. The OP sounds like a worried home owner, and I just pointed out that if someone is really worried about inflation – well real estate is a traditional inflation hedge. It has worked really well in that capacity for thousands of years.

For me and my unique situation, buying last year made sense, and still does. The ability to open a decent size dollar short position with no carrying costs is just great. The house is cool, and is a long term luxury. I don’t much care what valuation does over the next 15 years. My son will inherit our beach house some day, it will likely never be sold.

I am not following your ideas on “non-productive” investment. Are there thousands upon thousands of empty homes somewhere? For the few (in percentage terms) that are empty, will not a growing population soak that up pretty quick? If not, don’t we need a ton of new construction every year just to replace old homes that are torn down or converted to coffee shops or whatever? And since homes are long lived assets, even if a few extra were built the last three years won’t they eventually find a good use? I mean really, its not like we just built 1 million homes that will be empty, never-lived-in and rotting away 5 years from now, right? New home supply may have gotten ahead of its self a little, but, IMHO it is nothing like the valuation overhang we have.

[jonnycsd]

DWCAP – I was not suggesting that anyone should go buy real estate now. The OP sounds like a worried home owner, and I just pointed out that if someone is really worried about inflation – well real estate is a traditional inflation hedge. It has worked really well in that capacity for thousands of years.

For me and my unique situation, buying last year made sense, and still does. The ability to open a decent size dollar short position with no carrying costs is just great. The house is cool, and is a long term luxury. I don’t much care what valuation does over the next 15 years. My son will inherit our beach house some day, it will likely never be sold.

I am not following your ideas on “non-productive” investment. Are there thousands upon thousands of empty homes somewhere? For the few (in percentage terms) that are empty, will not a growing population soak that up pretty quick? If not, don’t we need a ton of new construction every year just to replace old homes that are torn down or converted to coffee shops or whatever? And since homes are long lived assets, even if a few extra were built the last three years won’t they eventually find a good use? I mean really, its not like we just built 1 million homes that will be empty, never-lived-in and rotting away 5 years from now, right? New home supply may have gotten ahead of its self a little, but, IMHO it is nothing like the valuation overhang we have.

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