[StaunchLibertarian]

I’d be in favor of a 35% federal tax on house purchases. That would help the housing market correct right quick.

[StaunchLibertarian]

I’d be in favor of a 35% federal tax on house purchases. That would help the housing market correct right quick.

[StaunchLibertarian]

I’d be in favor of a 35% federal tax on house purchases. That would help the housing market correct right quick.

[StaunchLibertarian]

I’d be in favor of a 35% federal tax on house purchases. That would help the housing market correct right quick.

[StaunchLibertarian]

I’d be in favor of a 35% federal tax on house purchases. That would help the housing market correct right quick.

[StaunchLibertarian]

[quote=briansd1]
To me, this statement below is very indicative of borrowers in over their heads. They need prices to remain high, in order to refinance (kick the can further down) or sell.

Despite talk by some that homeowners have plenty of equity and wherewithal, the facts are that the $8,000 rebates and the GSE increasing the limits following the 2008 crisis did spur homebuying.

Now that the incentives are gone, the market is taking the appropriate hit.

If a homebuyer really needs an $8,000 rebate to buy a house, then we have still have an affordability problem.
[/quote]

You’ve hit the nail on the head, I believe. The government (either through GSEs or FHA) is something like 95-100% of the mortgage market now and the government is planning to make it harder to get a mortgage. Just look at all the predicted doom and gloom over the proposal to have the government raise effective down payments on FHA mortgages from a measly 3.5% to to a slightly less measly 7%.

http://www.irvinehousingblog.com/blog/comments/republicans-propose-tighter-lending-standards-to-limit-taxpayer-liabilities/

Can we really be near a housing bottom when a proposal to raise down payments from 3.5% to 7% causes so much push back from the gangs of crack …. I mean home-dealers?

Previous housing booms coincided with good economies or job booms. I doubt that all of those fancy new jobs created by the boomlet in Cousin Burger franchises and the like are going to be enough to fuel a new housing boom.

The dollar may collapse, but if the plebeian hordes can only find work at Chotchke’s or Spatula City, housing isn’t going anywhere.

[StaunchLibertarian]

[quote=briansd1]
To me, this statement below is very indicative of borrowers in over their heads. They need prices to remain high, in order to refinance (kick the can further down) or sell.

Despite talk by some that homeowners have plenty of equity and wherewithal, the facts are that the $8,000 rebates and the GSE increasing the limits following the 2008 crisis did spur homebuying.

Now that the incentives are gone, the market is taking the appropriate hit.

If a homebuyer really needs an $8,000 rebate to buy a house, then we have still have an affordability problem.
[/quote]

You’ve hit the nail on the head, I believe. The government (either through GSEs or FHA) is something like 95-100% of the mortgage market now and the government is planning to make it harder to get a mortgage. Just look at all the predicted doom and gloom over the proposal to have the government raise effective down payments on FHA mortgages from a measly 3.5% to to a slightly less measly 7%.

http://www.irvinehousingblog.com/blog/comments/republicans-propose-tighter-lending-standards-to-limit-taxpayer-liabilities/

Can we really be near a housing bottom when a proposal to raise down payments from 3.5% to 7% causes so much push back from the gangs of crack …. I mean home-dealers?

Previous housing booms coincided with good economies or job booms. I doubt that all of those fancy new jobs created by the boomlet in Cousin Burger franchises and the like are going to be enough to fuel a new housing boom.

The dollar may collapse, but if the plebeian hordes can only find work at Chotchke’s or Spatula City, housing isn’t going anywhere.

[StaunchLibertarian]

[quote=briansd1]
To me, this statement below is very indicative of borrowers in over their heads. They need prices to remain high, in order to refinance (kick the can further down) or sell.

Despite talk by some that homeowners have plenty of equity and wherewithal, the facts are that the $8,000 rebates and the GSE increasing the limits following the 2008 crisis did spur homebuying.

Now that the incentives are gone, the market is taking the appropriate hit.

If a homebuyer really needs an $8,000 rebate to buy a house, then we have still have an affordability problem.
[/quote]

You’ve hit the nail on the head, I believe. The government (either through GSEs or FHA) is something like 95-100% of the mortgage market now and the government is planning to make it harder to get a mortgage. Just look at all the predicted doom and gloom over the proposal to have the government raise effective down payments on FHA mortgages from a measly 3.5% to to a slightly less measly 7%.

http://www.irvinehousingblog.com/blog/comments/republicans-propose-tighter-lending-standards-to-limit-taxpayer-liabilities/

Can we really be near a housing bottom when a proposal to raise down payments from 3.5% to 7% causes so much push back from the gangs of crack …. I mean home-dealers?

Previous housing booms coincided with good economies or job booms. I doubt that all of those fancy new jobs created by the boomlet in Cousin Burger franchises and the like are going to be enough to fuel a new housing boom.

The dollar may collapse, but if the plebeian hordes can only find work at Chotchke’s or Spatula City, housing isn’t going anywhere.

[StaunchLibertarian]

[quote=briansd1]
To me, this statement below is very indicative of borrowers in over their heads. They need prices to remain high, in order to refinance (kick the can further down) or sell.

Despite talk by some that homeowners have plenty of equity and wherewithal, the facts are that the $8,000 rebates and the GSE increasing the limits following the 2008 crisis did spur homebuying.

Now that the incentives are gone, the market is taking the appropriate hit.

If a homebuyer really needs an $8,000 rebate to buy a house, then we have still have an affordability problem.
[/quote]

You’ve hit the nail on the head, I believe. The government (either through GSEs or FHA) is something like 95-100% of the mortgage market now and the government is planning to make it harder to get a mortgage. Just look at all the predicted doom and gloom over the proposal to have the government raise effective down payments on FHA mortgages from a measly 3.5% to to a slightly less measly 7%.

http://www.irvinehousingblog.com/blog/comments/republicans-propose-tighter-lending-standards-to-limit-taxpayer-liabilities/

Can we really be near a housing bottom when a proposal to raise down payments from 3.5% to 7% causes so much push back from the gangs of crack …. I mean home-dealers?

Previous housing booms coincided with good economies or job booms. I doubt that all of those fancy new jobs created by the boomlet in Cousin Burger franchises and the like are going to be enough to fuel a new housing boom.

The dollar may collapse, but if the plebeian hordes can only find work at Chotchke’s or Spatula City, housing isn’t going anywhere.

[StaunchLibertarian]

[quote=briansd1]
To me, this statement below is very indicative of borrowers in over their heads. They need prices to remain high, in order to refinance (kick the can further down) or sell.

Despite talk by some that homeowners have plenty of equity and wherewithal, the facts are that the $8,000 rebates and the GSE increasing the limits following the 2008 crisis did spur homebuying.

Now that the incentives are gone, the market is taking the appropriate hit.

If a homebuyer really needs an $8,000 rebate to buy a house, then we have still have an affordability problem.
[/quote]

You’ve hit the nail on the head, I believe. The government (either through GSEs or FHA) is something like 95-100% of the mortgage market now and the government is planning to make it harder to get a mortgage. Just look at all the predicted doom and gloom over the proposal to have the government raise effective down payments on FHA mortgages from a measly 3.5% to to a slightly less measly 7%.

http://www.irvinehousingblog.com/blog/comments/republicans-propose-tighter-lending-standards-to-limit-taxpayer-liabilities/

Can we really be near a housing bottom when a proposal to raise down payments from 3.5% to 7% causes so much push back from the gangs of crack …. I mean home-dealers?

Previous housing booms coincided with good economies or job booms. I doubt that all of those fancy new jobs created by the boomlet in Cousin Burger franchises and the like are going to be enough to fuel a new housing boom.

The dollar may collapse, but if the plebeian hordes can only find work at Chotchke’s or Spatula City, housing isn’t going anywhere.

[StaunchLibertarian]

[quote=Allan from Fallbrook]

“Better to remain silent and be thought a fool, than open it and remove all doubt”.

The prelim intel on this operation dates back to 2002/2003 and the intel development on the courier, which led directly to Osama, was started in 2007, during the Bush Administration.

Kudos to Obama for using Team 6/TFR on this op and not using a drone, and also props for an excellent speech, but the background on this op was underway long before he ever hit the Oval Office.

Do your homework next time, it’ll save you some humiliation.[/quote]

I’ll grant you that the Bush administration played some role. It’s similar to the role that Neanderthals played in the evolution of humanity.

FACTS
The largest terrorist attack ever in the history of America took place on Bush’s watch. No terrorist attacks have taken place on American soil under Obama’s watch. Obama kept us safe; Bush did not. For over six years, Bush failed to kill or capture Bin Laden. Obama was able to find and kill Obama in just a little over two years.

Go away you pathetic little troll.

[StaunchLibertarian]

[quote=Allan from Fallbrook]

“Better to remain silent and be thought a fool, than open it and remove all doubt”.

The prelim intel on this operation dates back to 2002/2003 and the intel development on the courier, which led directly to Osama, was started in 2007, during the Bush Administration.

Kudos to Obama for using Team 6/TFR on this op and not using a drone, and also props for an excellent speech, but the background on this op was underway long before he ever hit the Oval Office.

Do your homework next time, it’ll save you some humiliation.[/quote]

I’ll grant you that the Bush administration played some role. It’s similar to the role that Neanderthals played in the evolution of humanity.

FACTS
The largest terrorist attack ever in the history of America took place on Bush’s watch. No terrorist attacks have taken place on American soil under Obama’s watch. Obama kept us safe; Bush did not. For over six years, Bush failed to kill or capture Bin Laden. Obama was able to find and kill Obama in just a little over two years.

Go away you pathetic little troll.

[StaunchLibertarian]

[quote=Allan from Fallbrook]

“Better to remain silent and be thought a fool, than open it and remove all doubt”.

The prelim intel on this operation dates back to 2002/2003 and the intel development on the courier, which led directly to Osama, was started in 2007, during the Bush Administration.

Kudos to Obama for using Team 6/TFR on this op and not using a drone, and also props for an excellent speech, but the background on this op was underway long before he ever hit the Oval Office.

Do your homework next time, it’ll save you some humiliation.[/quote]

I’ll grant you that the Bush administration played some role. It’s similar to the role that Neanderthals played in the evolution of humanity.

FACTS
The largest terrorist attack ever in the history of America took place on Bush’s watch. No terrorist attacks have taken place on American soil under Obama’s watch. Obama kept us safe; Bush did not. For over six years, Bush failed to kill or capture Bin Laden. Obama was able to find and kill Obama in just a little over two years.

Go away you pathetic little troll.

[StaunchLibertarian]

[quote=Allan from Fallbrook]

“Better to remain silent and be thought a fool, than open it and remove all doubt”.

The prelim intel on this operation dates back to 2002/2003 and the intel development on the courier, which led directly to Osama, was started in 2007, during the Bush Administration.

Kudos to Obama for using Team 6/TFR on this op and not using a drone, and also props for an excellent speech, but the background on this op was underway long before he ever hit the Oval Office.

Do your homework next time, it’ll save you some humiliation.[/quote]

I’ll grant you that the Bush administration played some role. It’s similar to the role that Neanderthals played in the evolution of humanity.

FACTS
The largest terrorist attack ever in the history of America took place on Bush’s watch. No terrorist attacks have taken place on American soil under Obama’s watch. Obama kept us safe; Bush did not. For over six years, Bush failed to kill or capture Bin Laden. Obama was able to find and kill Obama in just a little over two years.

Go away you pathetic little troll.

[StaunchLibertarian]

[quote=Allan from Fallbrook]

“Better to remain silent and be thought a fool, than open it and remove all doubt”.

The prelim intel on this operation dates back to 2002/2003 and the intel development on the courier, which led directly to Osama, was started in 2007, during the Bush Administration.

Kudos to Obama for using Team 6/TFR on this op and not using a drone, and also props for an excellent speech, but the background on this op was underway long before he ever hit the Oval Office.

Do your homework next time, it’ll save you some humiliation.[/quote]

I’ll grant you that the Bush administration played some role. It’s similar to the role that Neanderthals played in the evolution of humanity.

FACTS
The largest terrorist attack ever in the history of America took place on Bush’s watch. No terrorist attacks have taken place on American soil under Obama’s watch. Obama kept us safe; Bush did not. For over six years, Bush failed to kill or capture Bin Laden. Obama was able to find and kill Obama in just a little over two years.

Go away you pathetic little troll.

[Author]

Posts