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NO !!! Only Lawyers "practice law" All others do legal paper work . and since when did you have to be a lawyer to file a UCC-1 with the Secretary of state. Corporate business do it daily and secretary's in those same offices do it. OFFICE secretary's in those same offices without any Bar License. ( aka, COUNTRY CLUB License) are doing it.
Right - they are not making representations as to the validity of the filings they are doing for "clients"? LOLOLOLOLOL
Right - they are not making representations as to the validity of the filings they are doing for "clients"? LOLOLOLOLOL
Show me please where it requires a "Bar License" to do it. Do the clerk's in a lawyers office have a Bar license. They do most of the work for the lawyers don't they ???? all this without the so called Bar license. Do the clerk's in an Escrow office need to have a Bar license ?? I think not . Now back to the subject of this post. ??
Ha! Ever here of the great depression? This is nothing like that.
Record expansion of credit - check
Imminent collapse of the banking system - check
Misguided attempts by the government to get in the way of a normal market correction - check
Deflation of asset prices - check
Stock market crash - check
It might not be exactly the same (this current mess also has elements from the housing-led "long depression" in the mid 1870s), but to claim there's no similarities is a stretch. Not that I'm convinced that the outcome will be the same, either, but ignoring the historical parallels won't make them go away.
I love the counter argument realtors use against actual facts that are supported by empirical data : "Whatever, it's a great time to buy". Classic stuff.... lol
The actual quote is "it's a great time to buy OR SELL a house". Don't forget the sell part - agents make money on that side of the deal as well
Laguna Hills and San Diego are not Carlsbad. I was just there and was looking at their sales numbers - not shabby. Oh, to be sure, there have been downturns in valuations but, there are sales.
You guys are talking past each other. A "strong market" to a real estate agent is one with high volume at any price (transactions drive commission). A "strong market" to the typical buyer or seller is one where prices are increasing at a rate above inflation. This whole exchange just points out the disconnect between real estate agents' priorities and those of the people they are supposed to be working for.
Location: Georgia, on the Florida line, right above Tallahassee
10,471 posts, read 15,831,906 times
Reputation: 6438
Quote:
Originally Posted by Ruru
Everything you say here is correct and there is one more thing that was for some reason negligently overlooked (unregulated) and causing much more pain now than is necessary. When the sub-prime homeowner and investor made their purchases many were not forced to purchase the necessary insurance to cover the cost in case of defaults on their loans. This was part of the creative financing run rampant in the mid 90's, both fee based business and just bad business in this country and yes it should be considered criminal. With out Purchase protection insurance when the loans failed there was no money to cover the failures and so the mortgages then got shuffled and bundled into larger groups and sold. Passing all the risk on to the paying mortgagers and the tax payers.
Then the possibility of a domino effect. As the economy fails the mortgage bundles that are not covered grow in quantity as they still are and possibly still could in the coming months and everyone loses their shirts by failing mortgages, falling property values, and lost tax revenue.
This is a travesty and someone really ought to be brought to trial for allowing the mortgage industry to take so much reckless risk.
Look at AIG why did we bail out an Insurance Company? They have actuaries working for them. They had crunchers of numbers galore and peoples life savings invested. The people responsible are being allowed to get away with this scheme by not covering the American homeowner and investor.
Pray we need to get to the top, bottom and both sides of this issue so that this horrible waste of America's resources never happens again.
You guys are talking past each other. A "strong market" to a real estate agent is one with high volume at any price (transactions drive commission). A "strong market" to the typical buyer or seller is one where prices are increasing at a rate above inflation. This whole exchange just points out the disconnect between real estate agents' priorities and those of the people they are supposed to be working for.
Yes, that's what many don't understand. More transactions are more important than the price to the agent. I don't care if the price goes up or down so much as I care if transactions are happening. People assume that agents want to drive the price up, but that's not the case at all. We just want to close deals.
Sellers want to drive prices up. Buyers want to drive prices down. Agents want to get a seller and a buyer together on a number they both find agreeable.
Couple of F-bombs in that article. Just so you know about the cursing. It explains the mortgage mess pretty well, though.
When I got my last home loan, they tried that 80/20 crap with me. I think the second loan was 2 percentage points higher. I took a pass on it.
That article was a great read and really helped solidify my own theory's and ideas about how screwed the investment industry is right now.
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