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If the bubble bursts, people will be underwater on their mortgages again.
That will be "extreme" and well, as he said... then it is ok for government to step in and save people from their poor decisions. Seriously, it is like people have no concept of what being responsible means.
If the bubble bursts, people will be underwater on their mortgages again.
The new housing run up and implications are not on the order of magnitude as in 2007-8. Going more by the book, the buyers are more secure, as are the lenders. And the current move is more regional, not general.
That is like saying you have no problems being responsible for losing a a few dollars at the craps table, but when you decide to bet the farm and lose, well... then you should get a do over. What makes one responsible is that they are responsible for all of their decisions, not just the ones that that they think does them the least harm.
Everyone who was not irresponsible did not get hurt. That was my point.
With sky high property taxes, and the costs to maintain a home, the ONLY way a house is an investment is if the housing prices keep rising faster than the taxes and maintenance costs.
Suffice it to say, the clueless public are being beaten, raped and robbed blind, and they are oblivious to what is being done to them, because none of them have truthful information, and have no idea of how the world really operates, only believing what what they are told, by the very people robbing them blind.
You have the scam all figured out GuyNTexas.
There is an old saying when purchasing a house that it should be within 2 to 3X Your annual income.
If you follow a chart, going back to 1930, that rule was followed median wise for the USA.
The median cost of homes has fallen nowhere close to 2-3x the median income of most Americans.
Considering that income is falling for most American's yet, housing prices are still out of wack for most, because the Government (Taxes) and Banksters that control our government want it that way.
So, here we are back to a market shooting up again, everyone is excited and loans are flying out like crazy, people are rolling the dice again to get the pay offs on home buying as if it was a collectable trading fad and what will happen next? The market WILL crash again, and... here they will be again, crying about the unfairness of it all,
Get the Big Wall Street Banks out of our government and you would see the problem disappear.
These "Loan Programs" are not being done out of the kindness of anyone's heart, but because there is money to be made by the Wall Street Politicians and their cronies.
There is an old saying when purchasing a house that it should be within 2 to 3X Your annual income.
If you follow a chart, going back to 1930, that rule was followed median wise for the USA.
The median cost of homes has fallen nowhere close to 2-3x the median income of most Americans.
Considering that income is falling for most American's yet, housing prices are still out of wack for most, because the Government (Taxes) and Banksters that control our government want it that way.
It would seems like that would favor those who have the capital to buy multiple homes. In turn allowing them to rent at higher than natural market rates. Thus once again benefitting those in power and not those who truly need housing.
The new housing run up and implications are not on the order of magnitude as in 2007-8. Going more by the book, the buyers are more secure, as are the lenders. And the current move is more regional, not general.
Some homes are being flipped for double their price in one year, it's going to be worse.
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