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This One Key Thing Is Holding Back The Housing Market

By bgamall4   Follow   Tue, 22 May 2012, 7:25pm   1,143 views   12 comments
In Reno NV 89502   Watch (1)   Share   Quote   Permalink   Like   Dislike  

http://www.businessinsider.com/michelle-meyer-one-thing-holding-back-the-housing-market-2012-5#comment-4fbc4a4aeab8ea433900000d Well, does anyone believe me now about the banks wanting another housing bubble? From the article: "housing demand has not recovered to the extent it should have because lending to lower quality borrowers remains tight"

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1. APOCALYPSEFUCK is Shostakovich Follow Befriend (28) 171 threads 4,211 comments Premium

   1   7:33pm Tue 22 May 2012   Share   Quote   Permalink   Like (2)   Dislike   Are you kidding? The whole economy has been bubble based since about 1982. Does the states have any other core competency besides market manipulation?

2. bgamall4 Follow Befriend (14) 755 threads 2,590 comments 63 male Las Vegas, NV bgamall4's website Premium

   2   8:09pm Tue 22 May 2012   Share   Quote   Permalink   Like (1)   Dislike   I have been warning people and they think I am stupid. But the banks want another bubble. The 1 percent buying as I wrote about could be the start of one.

3. APOCALYPSEFUCK is Shostakovich Follow Befriend (28) 171 threads 4,211 comments Premium

   3   8:11pm Tue 22 May 2012   Share   Quote   Permalink   Like (3)   Dislike   Because they're all vested in the bubble. Don't expect a necrophiliac to wake up in a morgue and suddenly feel contrite.

4. inflection point Follow Befriend 4 threads 266 comments Fremont, CA

   4   8:13pm Tue 22 May 2012   Share   Quote   Permalink   Like (1)   Dislike   tthe banks would like to unload properties at the highest price possible. Here in the bay area it appears they are successful for now.

5. TMAC54 Follow Befriend (9) 70 threads 930 comments San Leandro, CA

   5   6:24am Wed 23 May 2012   Share   Quote   Permalink   Like   Dislike   bgamall4 says But the banks want another bubble. Banks must generate income. They lose income when values depreciate. NOW, more than ever, banks need to protect their assets. Hypothetical: You loan money to real property investors. Should you ask yourself, Will home prices continue downward ? Will the borrower lose his job ? Why did real property values become detached from reality in the first place ? Has that reason been alleviated, and have values returned to pre frenzy levels ? BANKS KNOW REAL PROPERTY PRICES ARE STILL TOO HIGH !

6. KILLERJANE Follow Befriend (3) 12 threads 600 comments

   6   6:55am Wed 23 May 2012   Share   Quote   Permalink   Like   Dislike   In some places to high, CA. In others...Atlanta, Phoenix and LV, NOPE. Houses sell for less than construction costs.

7. everything Follow Befriend (2) 3 threads 552 comments Madison, WI

   7   7:25am Wed 23 May 2012   Share   Quote   Permalink   Like (1)   Dislike   Hell, it don't matter, I'm selling a house right now for 80k, the bank will appraise at 100k, and for property tax purposes, it's worth 127k. Sure they'll want to re-bubble, as long as they are in the RE business they'll want prices higher. They'll lend, if it pushes prices higher/lower, who cares they'll still do it.

8. divingengineer Follow Befriend 15 comments Oakland, CA

   8   7:54am Wed 23 May 2012   Share   Quote   Permalink   Like   Dislike   Banks are selling to cash investors. People who ran away from the financial collapse with a suitcase full of money. I don't know who these people are that are buying all these properties, but they obviously have lots of cash. To me that means they were the people who profited from the last bubble and had the good sense to cash out at the correct time. They are the same bunch of A-holes that will create and pop the next bubble. Just make sure you don't get sucked into it. That's all you can do.

9. rooemoore Follow Befriend 41 threads 907 comments Ross, CA

   9   8:50am Wed 23 May 2012   Share   Quote   Permalink   Like (1)   Dislike   APOCALYPSEFUCK isFrank Sinatra says Don't expect a necrophiliac to wake up in a morgue and suddenly feel contrite. You are wasting your considerable talents here. You've got to write a book!

10. clambo Follow Befriend (5) 1,070 comments Santa Cruz, CA

    10   8:56am Wed 23 May 2012   Share   Quote   Permalink   Like   Dislike   I think banks are now looking around for some bubble lending. I got another letter from Wells Fargo offering me $100k credit at prime + 1.75%. It would be an unsecured loan. I hadn't seen one of those letters for several years. I fantasize about taking them up on these offers and making a run for the border. Then I snap out of it.

11. bgamall4 Follow Befriend (14) 755 threads 2,590 comments 63 male Las Vegas, NV bgamall4's website Premium

    11   1:36pm Wed 23 May 2012   Share   Quote   Permalink   Like   Dislike   TMAC54 says BANKS KNOW REAL PROPERTY PRICES ARE STILL TOO HIGH ! And that is going to stop them?

12. bgamall4 Follow Befriend (14) 755 threads 2,590 comments 63 male Las Vegas, NV bgamall4's website Premium

    12   1:37pm Wed 23 May 2012   Share   Quote   Permalink   Like   Dislike   divingengineer says I don't know who these people are that are buying all these properties, but they obviously have lots of cash. Yes, and they are worldwide hot money, It is estimated that US banks contain deposits of hot money totalling 20 percent of all deposits. That is a lot of money. And that money can leave a bubble as fast as it enters one.