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I disagree. I think it's a very appropo story for our times. But then, no matter what someone posts, there's always someone to knock it down.
Hi colleeng47,
Typically they do so with no explanation. The monkey story is not the good part of the post. Its the movement of capital from equity to debt to credit. Credit that comes from nowhere.
From that chart it shows how crazy it is to buy a home in CA. Just wait another year or two. The prices will be in the toilet. Instead of people jumping ship in CA to move to areas with cheaper housing, people from the Midwest will be moving to CA because it'll actually be comparable.
Except the prices won't revert to the mean like they should, since the government is artificially propping them up. Reducing interest rates and forgiving principal is allowing people to stay in houses that were out of their affordability range from the outset. It's flawed and unfair to reduce the principal burden of people who bought more house than they could afford, while forcing others who are also experiencing tough times to pay the full amount-- even though the value of their homes has dropped just as much. Putting down 20% or more equity and actually having savings and other assets penalizes you under this plan. This stealth wealth redistribution is flat-out discriminatory, and I can't believe attorneys aren't all over it.
Everybody's swimming in the same sinking economy, so why are some monkeys getting thrown all the life jackets?
I disagree. I think it's a very appropo story for our times
No, it is not and it is false. Lenders do not set prices, buyers and sellers and the market (as in Market System -- not stock market) does.
Who cares about the housing market in California? I damn sure don't. Take that silly post over to the California Forum where it belongs. California is not the US and nobody gives a damn if California tumbles into the sea.
Except the prices won't revert to the mean like they should, since the government is artificially propping them up. Reducing interest rates and forgiving principal is allowing people to stay in houses that were out of their affordability range from the outset. It's flawed and unfair to reduce the principal burden of people who bought more house than they could afford, while forcing others who are also experiencing tough times to pay the full amount-- even though the value of their homes has dropped just as much. Putting down 20% or more equity and actually having savings and other assets penalizes you under this plan. This stealth wealth redistribution is flat-out discriminatory, and I can't believe attorneys aren't all over it.
Everybody's swimming in the same sinking economy, so why are some monkeys getting thrown all the life jackets?
Hi goodbyehollywood,
It was explained to you. Equity does not pay interest, debt does. Allowing debtors to increase their assets helps the creditor. Those that understand it are in on it.
No, it is not and it is false. Lenders do not set prices, buyers and sellers and the market (as in Market System -- not stock market) does.
Who cares about the housing market in California? I damn sure don't. Take that silly post over to the California Forum where it belongs. California is not the US and nobody gives a damn if California tumbles into the sea.
Housing prices are UP not down.
Hi Mircea,
No, only in proportion to money supply does the buyer set the price, not in nominal terms which includes the money supply which the lenders dictate.
It was explained to you. Equity does not pay interest, debt does. Allowing debtors to increase their assets helps the creditor. Those that understand it are in on it.
Joe the plumber, is that you? Go back to plunging toilets. Your posts are clogging them up. Flush, flush.
No, it is not and it is false. Lenders do not set prices, buyers and sellers and the market (as in Market System -- not stock market) does.
Who cares about the housing market in California? I damn sure don't. Take that silly post over to the California Forum where it belongs. California is not the US and nobody gives a damn if California tumbles into the sea.
Housing prices are UP not down.
You have some links to back that up or is that your opinion ?
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The only thing I could add to this
