Santa Cruz, CA
Followed by 1
Ignored by 6
In United States
Registered Oct 22, 2010
clambo's most recent comments:
- On 28 Feb 2014
What happens if nobody buys the Baby Boomers' houses?,
There will be people buying houses even if it is not a smart thing for them to do.
Today Fannie and Freddie have 50% of houses in the USA.
Today about 50% of houses are "subprime"= not qualified buyer.
Today Fannie and Freddie are run by the US Govt (since 2008 law).
Uncle Sam wants you to buy a house, whether you can afford it or not.
So you work your whole life, never save but have a crummy house?
No problem, Uncle Sam will help you reverse-mortgage it while also paying you food stamps. You already will have free health care.
The underlying reason for ALL of this is today that the secondary mortgage security market is so profitable.
Some people worldwide who have money seek a steady stream of income. Mortgage payments by fools will provide this until the guy drops dead and another guy does it.
Others who seek income streams are insurance companies and pensions. They will still buy mortgage securities. Now they will buy them from uncle sam/freddie/fannie/ginnie mae.
I feel safer with a ton of dough in my investments than owing money to a bank but your results may vary.
- On 24 Feb 2014
Even more serious problems with new Bay Bridge,
The problem began with the Chinese making the steel sections the WRONG dimensions. Welding was the shitty "fix" for this monumental fuckup. This shitty fix is a further fuckup.
It's embarrassing and pathetic.
- On 24 Jan 2014
Thanks Obama.For Nothin',
I see the problem of the author. No one should be bashing him.
Before Obamacare, you could buy your own insurance. In my case, I could pay about $200/month.
Like the author, I have had income swings but when I was really making some dough in the early 90's I invested all of my savings. So, I have a large nest egg.
Today, I must buy Obamacare for $550/month, which I can't afford. However, if I have income under $24,000 in 2012, I'm subsidized. I don't want a subsidy, I want to buy insurance just as before before Obama made it illegal.
Obama makes you choose between being 1. uninsured 2. a welfare case.
Like the author, I object to listing my assets so that they can be stolen someday by the US Govt.