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C'mon, now.
How many potentially successful businesses never get started due to lack of credit?
How many potentially successful businesses fail due to lack of credit?
How much money never gets spent and recycled through the economy due to lack of credit?
Leverage is economic power, and there is none right now.
C'mon, now.
How many potentially successful businesses went bust due to debt problems?
How many potentially successful businesses never get started because the entrepreneur is still paying off debt from a previous failed businesses?
How much money never gets spent and recycled through the economy because it gets sucked away by debt payments?
Of the past two major economic crashes (1929 and 2008), how many were caused by excessive leverage? (Hint: It's 1+ 1).
Lack of leverage = stability, reduced beta on assets.
I have no idea how housing prices got as high as they are... it's absurd. That bubble needs to burst ASAP. It would be even better if prices come down and people still aren't buying.
I want to see all of those people who went into massive amounts of debt to buy their homes at ridiculously inflated prices realize what a mistake it was, and it will serve them right for driving up the prices in the first place.
I don't see millennials acting "entitled" as some say. They aren't pretending they've been given a good opportunity, either, though. They know that the future is going to be tougher than it was for their moms and dads, and they aren't pretending to be grateful for some crappy job and loads of student load debt from a failed system. I see a lot of young people working really hard without much incentive or help from anyone.
Automation really is an issue... machines that can pump out product at 3x the speed of just 5-10 years ago combined with outsourcing means less jobs to go around and the pay of all fields suffers as a result... more grads competing for the same jobs... so the business owners and corporations... the top one percent... take in all they money... while the masses on the bottom just get by... living paycheck to paycheck on a home they bought with zero down both working full time with overtime just to get by.....more and more taking jobs that used to be done by high schoolers...
what would happen to our fed supported fractional reserve empire and its multiple bubbles... real estate stock and bond markets...if people refused to overpay for homes and live in perpetual debt I wonder? Dont get me started on the increasing costs of health care....
what would happen if people simply refused to work for under a certain wage and walked away from underwater mortgages more often... broke their chains of perpetual debt... would be fun to watch. whole system is in my mind fraudulant. I have to pay more for houses because others are willing to leverage themselves to the max and live at work in the process...
i don't see millennials acting "entitled" as some say. They aren't pretending they've been given a good opportunity, either, though. They know that the future is going to be tougher than it was for their moms and dads, and they aren't pretending to be grateful for some crappy job and loads of student load debt from a failed system. I see a lot of young people working really hard without much incentive or help from anyone.
Automation really is an issue... machines that can pump out product at 3x the speed of just 5-10 years ago combined with outsourcing means less jobs to go around and the pay of all fields suffers as a result... more grads competing for the same jobs... so the business owners and corporations... the top one percent... take in all they money... while the masses on the bottom just get by... living paycheck to paycheck on a home they bought with zero down both working full time with overtime just to get by.....more and more taking jobs that used to be done by high schoolers...
what would happen to our fed supported fractional reserve empire and its multiple bubbles... real estate stock and bond markets...if people refused to overpay for homes and live in perpetual debt I wonder? Dont get me started on the increasing costs of health care....
what would happen if people simply refused to work for under a certain wage and walked away from underwater mortgages more often... broke their chains of perpetual debt... would be fun to watch. whole system is in my mind fraudulant. I have to pay more for houses because others are willing to leverage themselves to the max and live at work in the process...
I have no idea how housing prices got as high as they are... it's absurd. That bubble needs to burst ASAP. It would be even better if prices come down and people still aren't buying.
I want to see all of those people who went into massive amounts of debt to buy their homes at ridiculously inflated prices realize what a mistake it was, and it will serve them right for driving up the prices in the first place.
There's no necessary connection between people paying current prices and those that took on massive amounts of debt. Most of the people that took on unsustainable levels of debt in the last cycle have either lost their homes or are still deep in debt. A second collapse would do more harm to the people that paid cash or took out loans with more reasonable terms.
Collapsing prices actually does more harm to people that did not go in to debt. Someone that bought 0 down and only made interest payments on the debt can mail the keys back to the bank and walk away free and clear. The guy next door that paid cash - well, he's the one that actually lost money - not the person who took on debt.
There's no necessary connection between people paying current prices and those that took on massive amounts of debt. Most of the people that took on unsustainable levels of debt in the last cycle have either lost their homes or are still deep in debt. A second collapse would do more harm to the people that paid cash or took out loans with more reasonable terms.
Collapsing prices actually does more harm to people that did not go in to debt. Someone that bought 0 down and only made interest payments on the debt can mail the keys back to the bank and walk away free and clear. The guy next door that paid cash - well, he's the one that actually lost money - not the person who took on debt.
Only in non-recourse states and only for those that will not uphold their moral obligation to make good on their debts.
I have no idea how housing prices got as high as they are... it's absurd. That bubble needs to burst ASAP. It would be even better if prices come down and people still aren't buying.
I want to see all of those people who went into massive amounts of debt to buy their homes at ridiculously inflated prices realize what a mistake it was, and it will serve them right for driving up the prices in the first place.
Housing is actually getting pretty expensive to build. Material and labor costs are going higher and higher. A simple 2 x 4 costs about 3 bucks now where when my dad was building they were like 50 cents. He also used to pay guys 3 bucks an hour. Inflation catches up to everyone.
I have no idea how housing prices got as high as they are... it's absurd. That bubble needs to burst ASAP. It would be even better if prices come down and people still aren't buying.
I want to see all of those people who went into massive amounts of debt to buy their homes at ridiculously inflated prices realize what a mistake it was, and it will serve them right for driving up the prices in the first place.
From government choking the citizens with impact fees, zoning, "planning commissions" and other corrupt nonsense. You CANNOT BUILD affordable entry level housing any more it's just IMPOSSIBLE. All you see is big singles yada yada. Therefore, family formations seem insurmountable given stagnating wages.
It would take me longer to acquire 4 acres and build an unconventional house on it than it took Disney to open the PARK. And by unconventional I mean something small and cute that is NOT zoned for "that lot".
Why does the state of FL own 50% of PRIVATE PROPERTY???
Get rid of them. Change the representative government to represent each COUNTY not the HIGH DENSITY TRANSIENT SINGLE populations.
When private property prices come down where they belong, people will be more inclined to create family formations, be more accountable, responsible, and contributing to a stable society. This doesn't mean fake liar loans, no money down, no doc, no interest etc.
Instead of buying government's big scam that you should marry government instead.
I cannot explain why so many people are just DYING to have their house price zoom up except for ignorance and they want to quick cash out. OR be upside down. AGAIN.
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