[no_such_reality]

Of course, if those loans weren’t available, they’d all be crying about the unfair credit industry not loaning subprime the money.

[no_such_reality]

Sorry Rustico, I don’t buy the noble laborer sentiment. Although I will buy that the illegal aliens are exploited buy the few for profit at the expense of the many that think they’re getting a cheaper product.

The true costs of the illegal labor gets borne by the consumer not in paying more for a head lettuce, construction or other work that is being done, but instead, a lack of entrepeneurial innovation, in inadequate funding for the schools, subpar education, unfunded hospitals and a collapse of emergency care services, and a ghettotizing of neighborhoods tolerating a two class system replicating the graft and corruption that most are fleeing in coming here.

It has been done before, in the middle ages, before the plague, society stagnanted becuase it was cheaper to use abundant cheap feudal labor than improve things. Things like the printing press didn’t get evented until after that plague made it too costly to have dozens of monks sitting around copying manuscripts by hand.

Immigration is good for the country. Illegal immigration is incredibly bad. Create a guest worker program for low skilled laborers where they come, make a reasonable amount money, pay taxes, have required insurance, a fees for the infrastructure use and go home. Much like Singapore. For highly skilled laborers, increase and expedite the immigration process.

[no_such_reality]

Sorry Rustico, I don’t buy the noble laborer sentiment. Although I will buy that the illegal aliens are exploited buy the few for profit at the expense of the many that think they’re getting a cheaper product.

The true costs of the illegal labor gets borne by the consumer not in paying more for a head lettuce, construction or other work that is being done, but instead, a lack of entrepeneurial innovation, in inadequate funding for the schools, subpar education, unfunded hospitals and a collapse of emergency care services, and a ghettotizing of neighborhoods tolerating a two class system replicating the graft and corruption that most are fleeing in coming here.

It has been done before, in the middle ages, before the plague, society stagnanted becuase it was cheaper to use abundant cheap feudal labor than improve things. Things like the printing press didn’t get evented until after that plague made it too costly to have dozens of monks sitting around copying manuscripts by hand.

Immigration is good for the country. Illegal immigration is incredibly bad. Create a guest worker program for low skilled laborers where they come, make a reasonable amount money, pay taxes, have required insurance, a fees for the infrastructure use and go home. Much like Singapore. For highly skilled laborers, increase and expedite the immigration process.

[no_such_reality]

wonder if that is SFR/condos/and land parcels vs. U-T’s number

Either way, it likely doesn’t matter. It’s close enough to 20% of the monthly sales volume to be a mute point. That’s too much volume for the banks to hold and it’s too much volume for the market to stabalize around.

[no_such_reality]

wonder if that is SFR/condos/and land parcels vs. U-T’s number

Either way, it likely doesn’t matter. It’s close enough to 20% of the monthly sales volume to be a mute point. That’s too much volume for the banks to hold and it’s too much volume for the market to stabalize around.

[no_such_reality]

don’t tell me we can’t build a fence stretching from TJ

We don’t need a fence. We just need to enforce the work laws. Crack down on the employers and they’ll stop hiring.

[no_such_reality]

don’t tell me we can’t build a fence stretching from TJ

We don’t need a fence. We just need to enforce the work laws. Crack down on the employers and they’ll stop hiring.

[no_such_reality]

‘immigration reform’ bill, illegal aliens would be able to apply for a visa (Z-1) that would give them legal status in the U.S.

Read the fine print, it requires them to return home and may take 8-13 years. I don’t want to go home

This is a lip service package so both side can say they did something. The Dems, we got them a path to citizen ship. The Repubs, they got to go home.

In the end it is a DOA solution, as basically all of the illegals in the article said, they aren’t going to do it, and most importantly, they definitely aren’t going home of their own accord.

[no_such_reality]

‘immigration reform’ bill, illegal aliens would be able to apply for a visa (Z-1) that would give them legal status in the U.S.

Read the fine print, it requires them to return home and may take 8-13 years. I don’t want to go home

This is a lip service package so both side can say they did something. The Dems, we got them a path to citizen ship. The Repubs, they got to go home.

In the end it is a DOA solution, as basically all of the illegals in the article said, they aren’t going to do it, and most importantly, they definitely aren’t going home of their own accord.

[no_such_reality]

Forcing these home owners to move into rental’s that will be considerably cheaper and therefore opening up more of their income to be spent on other things? Not to mention the declining home prices will lower mortgage

I don’t think so. Basically a large part of the reason prices are so high is that the buyers were in effect living cheaper than rent. The Neg-AM loans and ultra-low teaser 1 year ARMs essentially had people buying large houses with a money payment that was less than rent.

On top of it, they did negative savings and tapped their equity to increase spending above their income level.

What I see happening is a large wave of people getting moved out of their SFRs and into a smaller cruddier rental that actually costs them more per month than they’re use to paying for the home. Not because rents are high, but because the credit bubble allowed them to refi so easily into a temporary low payment.

I have a feeling the bitter renters the bulls like to call housing bulls will really show up in one to two years, when over extended prior “owners” take a giant step backwards in their perceived quality of living and potentially pay more per month for it and have less disposable cash.

[no_such_reality]

Forcing these home owners to move into rental’s that will be considerably cheaper and therefore opening up more of their income to be spent on other things? Not to mention the declining home prices will lower mortgage

I don’t think so. Basically a large part of the reason prices are so high is that the buyers were in effect living cheaper than rent. The Neg-AM loans and ultra-low teaser 1 year ARMs essentially had people buying large houses with a money payment that was less than rent.

On top of it, they did negative savings and tapped their equity to increase spending above their income level.

What I see happening is a large wave of people getting moved out of their SFRs and into a smaller cruddier rental that actually costs them more per month than they’re use to paying for the home. Not because rents are high, but because the credit bubble allowed them to refi so easily into a temporary low payment.

I have a feeling the bitter renters the bulls like to call housing bulls will really show up in one to two years, when over extended prior “owners” take a giant step backwards in their perceived quality of living and potentially pay more per month for it and have less disposable cash.

[no_such_reality]

Hmm, PC, that to me is bad. Not bad as in there are a lot of foreclosure, bad as in the next boom market will be people thinking they’re getting rich buying foreclosures.

I’d guess that table is set up because they have so many people coming in to get the details on the foreclosures looking for properties.

Like someone else posted a while back, when they got closer to the bottom in the early 90s, there’d be 5 people at the auction with a 100 properties to go through.

Like the REDC auction, at the moment, there’s 1200 people combing through the 300 foreclosures.

[no_such_reality]

Hmm, PC, that to me is bad. Not bad as in there are a lot of foreclosure, bad as in the next boom market will be people thinking they’re getting rich buying foreclosures.

I’d guess that table is set up because they have so many people coming in to get the details on the foreclosures looking for properties.

Like someone else posted a while back, when they got closer to the bottom in the early 90s, there’d be 5 people at the auction with a 100 properties to go through.

Like the REDC auction, at the moment, there’s 1200 people combing through the 300 foreclosures.

[no_such_reality]

The dead woman… had stopped paying her mortgage six years ago.

Hey, isn’t that the bailout plan the screwed borrowers are hoping for?

[no_such_reality]

The dead woman… had stopped paying her mortgage six years ago.

Hey, isn’t that the bailout plan the screwed borrowers are hoping for?

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