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forgotten by a media more interested in rising home values than eviction notices — requires more than community rehab and tepid financial regulation. It demands that we question, and reimagine, a system of property ownership that has prevented large segments of the population from making real decisions about the communities in which they live. And in case you’re thinking that this is a problem only for Black America, think again. As theNew York Times warned in April, “The alchemists of Wall Street are at it again… reviving the same types of investments that many thought were gone for good.” - See more at: Laura Gottesdiener: The backyard shock doctrine
not agreeing with all actions in above article, but clearly Wall St will NOT be reigned in, and pknopp i disagree. maybe to you it didnt affect. The wars didnt affect my neighbor until her son went to Iraq.
not agreeing with all actions in above article, but clearly Wall St will NOT be reigned in, and pknopp i disagree. maybe to you it didnt affect. The wars didnt affect my neighbor until her son went to Iraq.
And US/corp. media is full of it, as usual.
Nowhere did I say nobody was affected. I said large portions of the country where not affected in an amount that justified the actions.
In certain pockets they took a large hit. But they were just that. Certain markets.
$80 billion a month. But that doesn't cut it anymore.
Foreign investment isn't there and long term rates are going up. short term rates will soon follow.
this is an extremely common misconception, but that ain't how it works.
if the Fed wants to set rates on government debt then, as the reserve monopolist, it simply does it. People who don't like it can complain, but in the end the fed has unlimited dollar reserves, and all the foreign governments and traders of the world have limited dollar reserves.
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With our debt a rise in rates will have direct impact on our ability to pay increased interest and not hit the debt ceiling.
Indeed, you're right, but the debt ceiling is a self-imposed political constraint and not an economic one.
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Originally Posted by HappyTexan
The banks don't set the rates, the Fed does as well as market conditions.
The banks take the rate and tack onto it.
The "crash" was a bit of a misnomer from the beginning. For large segments the housing market did not crash. It fell a bit but nothing devastating.
Some places weren't hit as hard, that is correct, though most increased past their normal progression increases. Some though, were hit so hard that you would have to label yourself stupid if you bought the homes at that price. There is also some issues with this second bubble coming. For instance, many places where the housing went stupid, people left.. and headed to states and locations where this didn't hit as hard. The result? Those places are now seeing dramatic increases in home values. The Texas metroplex wasn't hit super hard on the last bubble, but this next bubble is hitting it pretty hard. Home values in some areas are up by as high as 80% since we moved here and they are projecting them to increase even more.
This time though, interest rates will remove any possible means of them trying to keep prices from dropping. The average buyer won't be able to afford these high priced homes with high interest rates, not even upper middle class. This next crash will be a doozy.
Some places weren't hit as hard, that is correct, though most increased past their normal progression increases. Some though, were hit so hard that you would have to label yourself stupid if you bought the homes at that price.
Indeed.
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There is also some issues with this second bubble coming. For instance, many places where the housing went stupid, people left.. and headed to states and locations where this didn't hit as hard. The result? Those places are now seeing dramatic increases in home values. The Texas metroplex wasn't hit super hard on the last bubble, but this next bubble is hitting it pretty hard. Home values in some areas are up by as high as 80% since we moved here and they are projecting them to increase even more.
This time though, interest rates will remove any possible means of them trying to keep prices from dropping. The average buyer won't be able to afford these high priced homes with high interest rates, not even upper middle class. This next crash will be a doozy.
If people can't afford them the prices will naturally come down. Nothing wrong with that.
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agree
