[patientrenter]

[quote=jpinpb]Are they seriously going to reduce the principal??!!!!!!

That’s it. I’m going to buy a condo tomorrow. I’ll pay for a little while and then stop. Someone tell me. What will they do??? After how many months of living there free before they kick me out or renegotiate?

Can’t play by the old rules, can’t beat them, then join them.

I have had it. I am so sick of this shit. [/quote]

And don’t forget, jpinpb, that the “free money” being given to these folks comes from someone who actually has to earn it, save it, and hand it over (in taxes). If you pay a lot of taxes, that big giver would be you.

I pay hundreds of thousands in taxes each year. I have never bought a home, because I didn’t think I could afford a decent one and, at the same time, save enough for my future retirement and health expenses. I lived in a small, old apartment while people who saved next to nothing lived in big, new homes.

Now vast amounts of my money are going to be shoveled at people who never bothered to spend less than they earned, or restrict themselves to homes that they could afford with 20-100% downpayments, or rent if that was too much. Meanwhile, I still can’t afford a home because all these measures designed to keep these often irresponsible people in ‘their’ homes are keeping home prices way above what I can afford on a much more responsible standard of affordability.

Barney Frank and Chris Dodd and Chuck Schumer and their co-conspirators (from both parties) will never be justified in my book.

[patientrenter]

[quote=jpinpb]Are they seriously going to reduce the principal??!!!!!!

That’s it. I’m going to buy a condo tomorrow. I’ll pay for a little while and then stop. Someone tell me. What will they do??? After how many months of living there free before they kick me out or renegotiate?

Can’t play by the old rules, can’t beat them, then join them.

I have had it. I am so sick of this shit. [/quote]

And don’t forget, jpinpb, that the “free money” being given to these folks comes from someone who actually has to earn it, save it, and hand it over (in taxes). If you pay a lot of taxes, that big giver would be you.

I pay hundreds of thousands in taxes each year. I have never bought a home, because I didn’t think I could afford a decent one and, at the same time, save enough for my future retirement and health expenses. I lived in a small, old apartment while people who saved next to nothing lived in big, new homes.

Now vast amounts of my money are going to be shoveled at people who never bothered to spend less than they earned, or restrict themselves to homes that they could afford with 20-100% downpayments, or rent if that was too much. Meanwhile, I still can’t afford a home because all these measures designed to keep these often irresponsible people in ‘their’ homes are keeping home prices way above what I can afford on a much more responsible standard of affordability.

Barney Frank and Chris Dodd and Chuck Schumer and their co-conspirators (from both parties) will never be justified in my book.

[patientrenter]

[quote=jpinpb]Are they seriously going to reduce the principal??!!!!!!

That’s it. I’m going to buy a condo tomorrow. I’ll pay for a little while and then stop. Someone tell me. What will they do??? After how many months of living there free before they kick me out or renegotiate?

Can’t play by the old rules, can’t beat them, then join them.

I have had it. I am so sick of this shit. [/quote]

And don’t forget, jpinpb, that the “free money” being given to these folks comes from someone who actually has to earn it, save it, and hand it over (in taxes). If you pay a lot of taxes, that big giver would be you.

I pay hundreds of thousands in taxes each year. I have never bought a home, because I didn’t think I could afford a decent one and, at the same time, save enough for my future retirement and health expenses. I lived in a small, old apartment while people who saved next to nothing lived in big, new homes.

Now vast amounts of my money are going to be shoveled at people who never bothered to spend less than they earned, or restrict themselves to homes that they could afford with 20-100% downpayments, or rent if that was too much. Meanwhile, I still can’t afford a home because all these measures designed to keep these often irresponsible people in ‘their’ homes are keeping home prices way above what I can afford on a much more responsible standard of affordability.

Barney Frank and Chris Dodd and Chuck Schumer and their co-conspirators (from both parties) will never be justified in my book.

[patientrenter]

[quote=jpinpb]Are they seriously going to reduce the principal??!!!!!!

That’s it. I’m going to buy a condo tomorrow. I’ll pay for a little while and then stop. Someone tell me. What will they do??? After how many months of living there free before they kick me out or renegotiate?

Can’t play by the old rules, can’t beat them, then join them.

I have had it. I am so sick of this shit. [/quote]

And don’t forget, jpinpb, that the “free money” being given to these folks comes from someone who actually has to earn it, save it, and hand it over (in taxes). If you pay a lot of taxes, that big giver would be you.

I pay hundreds of thousands in taxes each year. I have never bought a home, because I didn’t think I could afford a decent one and, at the same time, save enough for my future retirement and health expenses. I lived in a small, old apartment while people who saved next to nothing lived in big, new homes.

Now vast amounts of my money are going to be shoveled at people who never bothered to spend less than they earned, or restrict themselves to homes that they could afford with 20-100% downpayments, or rent if that was too much. Meanwhile, I still can’t afford a home because all these measures designed to keep these often irresponsible people in ‘their’ homes are keeping home prices way above what I can afford on a much more responsible standard of affordability.

Barney Frank and Chris Dodd and Chuck Schumer and their co-conspirators (from both parties) will never be justified in my book.

[patientrenter]

Davard,

Here are some questions that I use for myself:

1. Are most voters homeowners?

2. Do most homeowners have mortgages?

3. Is a home the biggest asset of most homeowners?

4. Do most regular people see themselves as net borrowers or net lenders?

5. Do most businesspeople see themselves as net borrowers or net lenders?

6. Does inflation benefit people who borrow more than people who save, because the debts can be repaid in devalued currency?

7. Can politicians arrange for inflation, if they use all their powers? (Think of recent events, if you are assessing whether pols will self-limit their actions.)

8. Will most politicians do what most voters and most businesspeople want them – really, really want them – to do?

I hope thinking about these questions helps.

[patientrenter]

Davard,

Here are some questions that I use for myself:

1. Are most voters homeowners?

2. Do most homeowners have mortgages?

3. Is a home the biggest asset of most homeowners?

4. Do most regular people see themselves as net borrowers or net lenders?

5. Do most businesspeople see themselves as net borrowers or net lenders?

6. Does inflation benefit people who borrow more than people who save, because the debts can be repaid in devalued currency?

7. Can politicians arrange for inflation, if they use all their powers? (Think of recent events, if you are assessing whether pols will self-limit their actions.)

8. Will most politicians do what most voters and most businesspeople want them – really, really want them – to do?

I hope thinking about these questions helps.

[patientrenter]

Davard,

Here are some questions that I use for myself:

1. Are most voters homeowners?

2. Do most homeowners have mortgages?

3. Is a home the biggest asset of most homeowners?

4. Do most regular people see themselves as net borrowers or net lenders?

5. Do most businesspeople see themselves as net borrowers or net lenders?

6. Does inflation benefit people who borrow more than people who save, because the debts can be repaid in devalued currency?

7. Can politicians arrange for inflation, if they use all their powers? (Think of recent events, if you are assessing whether pols will self-limit their actions.)

8. Will most politicians do what most voters and most businesspeople want them – really, really want them – to do?

I hope thinking about these questions helps.

[patientrenter]

Davard,

Here are some questions that I use for myself:

1. Are most voters homeowners?

2. Do most homeowners have mortgages?

3. Is a home the biggest asset of most homeowners?

4. Do most regular people see themselves as net borrowers or net lenders?

5. Do most businesspeople see themselves as net borrowers or net lenders?

6. Does inflation benefit people who borrow more than people who save, because the debts can be repaid in devalued currency?

7. Can politicians arrange for inflation, if they use all their powers? (Think of recent events, if you are assessing whether pols will self-limit their actions.)

8. Will most politicians do what most voters and most businesspeople want them – really, really want them – to do?

I hope thinking about these questions helps.

[patientrenter]

Davard,

Here are some questions that I use for myself:

1. Are most voters homeowners?

2. Do most homeowners have mortgages?

3. Is a home the biggest asset of most homeowners?

4. Do most regular people see themselves as net borrowers or net lenders?

5. Do most businesspeople see themselves as net borrowers or net lenders?

6. Does inflation benefit people who borrow more than people who save, because the debts can be repaid in devalued currency?

7. Can politicians arrange for inflation, if they use all their powers? (Think of recent events, if you are assessing whether pols will self-limit their actions.)

8. Will most politicians do what most voters and most businesspeople want them – really, really want them – to do?

I hope thinking about these questions helps.

[patientrenter]

[quote=SD Realtor]esmith I usually agree with your posts but I think this one is pretty far off the mark.

[/quote]

Well, I prefer it when civilized, peaceful, people can discuss all subjects without piffling around, but esmith, you should know that not everyone will appreciate your position on this, and your raising it. Arranging to profit from a stock going down is considered aggressive but perfectly acceptable in polite company. Arranging to profit from a person going down, especially a leader who inspires millions is going to be thought of…. differently. Your bet is harmless, and may be well-calculated. Our discussion of it is also harmless. But I sure hope you lose this bet, for all our sakes.

[patientrenter]

[quote=SD Realtor]esmith I usually agree with your posts but I think this one is pretty far off the mark.

[/quote]

Well, I prefer it when civilized, peaceful, people can discuss all subjects without piffling around, but esmith, you should know that not everyone will appreciate your position on this, and your raising it. Arranging to profit from a stock going down is considered aggressive but perfectly acceptable in polite company. Arranging to profit from a person going down, especially a leader who inspires millions is going to be thought of…. differently. Your bet is harmless, and may be well-calculated. Our discussion of it is also harmless. But I sure hope you lose this bet, for all our sakes.

[patientrenter]

[quote=SD Realtor]esmith I usually agree with your posts but I think this one is pretty far off the mark.

[/quote]

Well, I prefer it when civilized, peaceful, people can discuss all subjects without piffling around, but esmith, you should know that not everyone will appreciate your position on this, and your raising it. Arranging to profit from a stock going down is considered aggressive but perfectly acceptable in polite company. Arranging to profit from a person going down, especially a leader who inspires millions is going to be thought of…. differently. Your bet is harmless, and may be well-calculated. Our discussion of it is also harmless. But I sure hope you lose this bet, for all our sakes.

[patientrenter]

[quote=SD Realtor]esmith I usually agree with your posts but I think this one is pretty far off the mark.

[/quote]

Well, I prefer it when civilized, peaceful, people can discuss all subjects without piffling around, but esmith, you should know that not everyone will appreciate your position on this, and your raising it. Arranging to profit from a stock going down is considered aggressive but perfectly acceptable in polite company. Arranging to profit from a person going down, especially a leader who inspires millions is going to be thought of…. differently. Your bet is harmless, and may be well-calculated. Our discussion of it is also harmless. But I sure hope you lose this bet, for all our sakes.

[patientrenter]

[quote=SD Realtor]esmith I usually agree with your posts but I think this one is pretty far off the mark.

[/quote]

Well, I prefer it when civilized, peaceful, people can discuss all subjects without piffling around, but esmith, you should know that not everyone will appreciate your position on this, and your raising it. Arranging to profit from a stock going down is considered aggressive but perfectly acceptable in polite company. Arranging to profit from a person going down, especially a leader who inspires millions is going to be thought of…. differently. Your bet is harmless, and may be well-calculated. Our discussion of it is also harmless. But I sure hope you lose this bet, for all our sakes.

[patientrenter]

SDR,

DaC and you are correct:

1. Most voters are homeowners, and want their loans, or their neighbors’ loans, forgiven.

2. Most voters see themselves as borrowers, not savers, and are OK with programs that transfer wealth from savers to borrowers.

3. A minority of the population are very concerned about fairness. Enough lip service is being paid to moral hazard to fool the majority of this minority into believing that people in power are trying hard to avoid moral hazard.

4. The wealth transfers from savers to borrowers who own homes will cause home prices to be materially higher than they would be in a free market.

And, BTW, SDR, last year I was posting on this site that there would be massive govt efforts to keep home prices high and benefit borrowers at the expense of savers. It was obvious from day 1. I recall DaC agreeing.

[Author]

Posts