patrick.net

CAFO?

I'm not sure which persons are worse: realtors or church leaders.

Yeah, I'm having trouble choosing sides on this one.

bgamall4 says

Goldman says

there is an extensive network of CDFIs and other non-profits that are providing lots of opportunities for First Time Home Buyers to join the party:

They aren't buying. They aren't biting. If you are Goldman as in Goldman Sachs, get a life and quit screwing the middle class.

It's game over as Smaulgld extentuated....the artificial appreciation will continue deteriorate from here on out

bgamall4 says

freak80 says

Quigley,

It's almost like a company town. You work for and buy everything from your employer.

Think how much more they could buy if they were paid more.

How would that help shareholders?

bgamall4 says

freak80 says

Quigley,

It's almost like a company town. You work for and buy everything from your employer.

Think how much more they could buy if they were paid more.

But they're not entrepreneurs. They didn't work hard. They haven't earned it.

If you speculate in derivatives, run a bank or hedge fund, sell real estate, or just import goods from China to sell to people here, you are a wealth creator.

Tax cuts for the wealth creators give them the money to create things, and build products. And, as we learn from real estate, supply creates demand. The consumer, seeing houses or products - or, in technology markets, solutions - steps forward to purchase these products, creating a spiral of more products and, in turn more demand for them.

Remember: production creates demand. Why do you think we have seen the shrinking wealth gap between rich and poor over the past 30 years?

Tax cuts have made us all happier, healthier, and better off, and every dollar cut from government spending, with the sole exception of military spending, creates greater efficiencies in capital allocation that improve the air we breathe, the water we drink, and the quality of our personal and sexual relationships with both people and animals.

I truly believe that the tax cuts of 1981-1988, and then, particularly, the tax cuts of 2001-2009, have created the heaven spoken of in scripture, but here on earth.

Uh, didn't most financial planners take a bath in 2007, having succumbed to the same hysteria and blindness as the economists who wiled away the hours penning multi-volume descriptions of the beautiful new wardrobe the emperor was sporting?

Criminal.

Clearly she's a practiced hand.

Good thing the FHA is a non-government entity, else one could be forgiven for thinking that the federal government has been propping up housing since Franklin Roosevelt.

Nah. Only a crank conspiracy theorist would say that. And the false flag trilateral commission puts chips in all their brains.

Oh, look: a hologram!

chicken feed. compared to Obamas 10 trillion

....well then what was all this bragging about making a profit " just more spin" for the deteriating housing market!

bailouts 4 all are zirptastic!

get used to it, not going away in your lifetime

God wants you to buy a house! Name it and claim it! Don't worry about the mortgage Ts & Cs, God will make it happen!

Call it Crazy says

What about the 535 in DC, they certainly can be considered zombies, can't they???

I would rather have 535 zombies running DC.

My earlier point was that First Time Buyer have been participating in this current Real Estate frenzy, and I suspect many of them have been sucked in by the claims of last time to buy real estate while interest rates are low......
http://realestateresearch.frbatlanta.org/rer/2013/08/examining-reported-decline-in-first-time-homebuyer-share.html

No I'm not pro Real Estate- I have a First Time Buyer (or potential buyer in my family) who really believes that she will never be able to buy a home if she doesn't buy NOW! I can dissuade her from this false belief.

If Bernanke is printing billions, whats another few million?

The way this country is going I think we'll need another term for debt. First we got to millions, than to billions, now in trillions... what comes after trillions? Is that Googleions?

egads101 says

dodgerfanjohn says

Lol @ the retard who puts the entirety of his personal business out there for all to see, has it bite him in the ass, and then goes on to call others retards.

That's some fucking chutzpah!

why don't you try to link ONE, JUST ONE of your posts that:

1. showed some data or analysis.

2. correctly presages any market or real estate move that actually happened.

3. shows any level of thinking above moronic.

You've been on patrick.net long enough, 850 comments, 23 threads. There must be one that shows an IQ over 80 for you right? right? We'll wait...

Oh I don't need to do that. I'm just some random firing off posts that may or may not be reflective of what I really beleive say and do.

You however have been proven to lack common sense...through your own idiocy no less. Yet you have the temerity to insult the intelligence of others.

You are truly the village idiot.

How about creating taxpayers for revenue instead of reinflating the housing bubble?

In another thread glad we came to the conclusion Zombies are real and are running Washington D.C.

Brainless, dead flesh, incapable of any real thought.

My financial advisor said to take out a reverse mortgage on my home and invest in life insurance, but only the really expensive policy sold by his company.

sbh says

from Washington's perspective, if you don't want to see housing values rise you're just a taker

"Communist pedophile" is the proper term for such people.

sbh says

one of the 47% who sees himself as a looser in life

Complete with people who get off on rubbing that fallacy in your face...even on this site. LOL!

The Heritage Foundation is a known far-right think-tank & propaganda mill.

If a person gets most of their information from such sources, they are going to have a warped view of reality.

Cic,

*BOTH* parties spend huge amounts of money. Dick Cheney famously said "deficits don't matter."

To say deficits are mainly Obama's fault is absurd!

There's plenty wrong with Obama and all other politicians. But blaming him for most of the national debt is ridiculous.

The problems still exist; just different players. The so called "cash buyers" are investors that have "borrowed" money at very low rates. If the house investment/portfolios do not produce a profit; if they cannot hold long enough to produce a profit; we have the same problem as before 2008. Also, many of the foreclosures happened in 2008 because many, many people lost their jobs. Today, we need 2 incomes to pay most mortgages. When just one income is lost, the house is lost.

Again, I do not know if this will crash. I am still looking for our home at a good price within our budget and plan to live there until we cannot anymore...hopefully a long time.

But it remains to be seen...there unfortunately, are so many "shoes that could drop" ....

Call it Crazy says

You wonder why this country is so f*cked!!!!

If the country is f*cked, it's because of the lies and misinformation being spread around by far-right and libertarian "think-tanks" and propaganda outlets. Examples: Fox News, Sean Hannity, Rush Limbaugh, the Heritage Foundation, the CATO institute, and others.

Yeah, the far-left has it's kooks but they don't have a whole network of "news" outlets promoting their ideas.

The country is turning into an aristocracy. 400 individuals have *half* of the net-worth of the entire nation!

Money buys politicians. Therefore money buys laws that can totally screw everyone else. What's to stop the top 0.1% from buying a law that reduces their tax rate to zero? Heck, they could buy a law that turns the 99.9% into slaves. But of course a significant part of the 99.9% slave population will still believe that the wealth will eventually "trickle down" to them. Idiots.

bgamall4 says

There is more customer service at dollar stores. My wife is an addict.

I worry about what she buys there. I hope the shampoo doesn't turn me China green.

The shampoo I buy at the Dollar store is made in USA, and I don't worry about any bad side effects.

1000 is only 1/8th of it's mortgage finance division employee numbers. No biggy, the buying season is over. Two people in my family are waiting until spring to list their homes, one will be a relist since it's over priced.

HydroCabron says

But they're not entrepreneurs. They didn't work hard. They haven't earned it.

If you speculate in derivatives, run a bank or hedge fund, sell real estate, or just import goods from China to sell to people here, you are a wealth creator.

Of course. People who actually do the work don't make a damn thing. They're just lazy bums who deserve their miserable lot in life. The people who collect the fruits of their labor are the true producers of this country. The real American heros.

Wouldn't a tax cut on top earners reduce the debt?

http://research.stlouisfed.org/fred2/graph/?g=mMU

shows Bush took spending from $2T to $3.2T, a 60% rise.

and Obama has taken it from $3.2T to $3.8T, a 20% rise (over 5 years)

As for the $43,000 per debt per household, the simple answer is that this money should have been taxed or tariffed, not borrowed.

http://research.stlouisfed.org/fred2/series/CP

lot of fat piggies in this country

Our politicians are bought and paid for. The only way to effect change is to pay them more. If you want political change you must start a PAC and raise money to bribe politicians. Any other activity won't accomplish anything much.

Over 40% of RE is sold during the months of May-August, so pending sales should be falling, don't deny that the RE market is hot right now, and will be come springtime as well.

It's not just Republican policies, it's conservatism in general.

Reagan's cold war expansion took DOD from $400B to $600B per year:

http://research.stlouisfed.org/fred2/graph/?g=mMW

(2009 dollars)

Clinton held the line and got that down to $500B then Bush and the neocons jacked it back up to $800B.

NAFTA and free trade in general has raped the economy.

Rising Gini is raping the middle-class:

http://research.stlouisfed.org/fred2/series/GINIALLRH

Corporations, same thing:

http://research.stlouisfed.org/fred2/series/CP

conservatives defend all of these trends. They are entirely wrong on everything.

Call it Crazy says

I love how you and that duck person keeping blaming the Repubs, as if the Dems NEVER have had any part in out of control spending...

That's a straw-man argument. Nobody suggested that the Dems don't spend lots of money. What many are suggesting is the following:

The Democrats are *less* fiscally irresponsible than the Republicans.

HydroCabron says

Wouldn't a tax cut on top earners reduce the debt?

Bueller...Bueller...Bueller...Bueller...

Quigley says

Our politicians are bought and paid for. The only way to effect change is to pay them more. If you want political change you must start a PAC and raise money to bribe politicians. Any other activity won't accomplish anything much.

Exactly my point. The far-right / libertanian folks don't seem to get that *money* is what runs government. It always has & always will. They have this quaint idealistic belief that politicians will always do the "right thing" for the "greater good" or "fair play."

Anarcho-capitalism leads to extreme concentration of wealth which leads to aristocracy/plutocracy.

Some kind of wealth redistribution is the only way to avoid a society based on the exploitation of the many by the fiew. Historically, civilization has always worked that way, including the USA. We like to think the USA is exceptional in that regard, but it isn't. Slavery didn't end here until the 1860s, and de-facto wage-slavery didn't end here until the progressive era starting of the 1890s.

Since 1980 we've been steadily heading back to the "normal" system of exploitation of the many by the few. And with every recession, it gets worse.

I appreciate your response but I do not agree. On your first statement you cannot be sure that the investors got the $5 million "in cash" and they did not borrow; most according to articles I have read in Bloomberg and WSJ are borrowing this money.

Also, in the same publications they have been noting that these investment portfolios are only being rented a little over 50%. If they cannot rent all or most of the properties or get other investors to buy the portfolio, we may see a sell off.

The difference is that I believe this run up in 'home prices' was due to these large investors with these large firms. And again, I am reading this from Bloomberg, WSJ and Fortune.

But I do respect that you may be correct; I just think that the other option may be valid as well. Time will tell.

Call it Crazy says

What???? The duck man ONLY keeps blaming the repubs....

Ok, so maybe he's wrong. That's not the point.

The point is, in recent history the national debt has increased much faster under Republican presidents than Democrat presidents.

sbh says

I deeply admire the tough-as-nails ranchers of the American southwest. I have nothing in common with them politically

it's easy being a conservative if you've got hundreds of acres to create wealth from each year.

There are 400 million acres of cropland; it takes 100 or more to have the scale to make a living from farming, so that's employment for at most 4% of the population.

Socialism got its start in the US soon after the last good land was claimed.

http://en.wikipedia.org/wiki/Frontier_Thesis