patrick.net

tatupu70 says

You understand that it's been proven that the CRA had no effect on the housing bubble.

Absolutely, I understand that you believe that it has.

APOCALYPSEFUCKisShostikovitch says

zzyzzx says

What do you propose we do with the female realtors?

A permanent tour of supermax prisons for as long as the live.

Realtors are already whores, this would just be another gig. They'd end up owning all the cigs and smack in the big house!

APOCALYPSEFUCKisShostikovitch says

Woman chops off alleged rapists penis and beats him to death with a hammer

The AF runs strong in this one!

Bulls make money, bears make money, pigs get slaughtered. The market just needs to move to make money.....

I'm a renter, I want to buy!

A new construction, single story tutor style 3400 sqft 5/3 on two acres of land in Portola Valley. It should have a full finished basement, vinyard, and horse stable and a sweeping view of the bay

$235,000 for that sounds about right.

But I can't buy that so count me among those 4M

Why yes I do, so there

It was alleged that bankers were prejudiced against lower income people so the government in all of it's wisdom decided to meddle in the market to enforce people's right to own a home.

This is absurd because nothing is more fair than the market when it comes to these matters. No one in business is going to inhibit his income sources.

BTW Jimmy Carter had a stamp come out recently, imo no one deserves to be stamped more than Jimmy Carter?

mell says

levitating by a steadily weakening dollar

steadily strengthening, actually.

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

http://research.stlouisfed.org/fred2/graph/?g=t5a

where the red line goes is important.

http://research.stlouisfed.org/fred2/graph/?g=t5b

blue is profits

red is QE level

New Renter says

I'm a renter, I want to buy!

Easy way to accomplish this objective.

MOVE.

Get the heck out of San Jose. There are a boatload of other areas in this country where $235,000 would buy you a fabulous home. However, you insist on staying in CA, you are insisting on being a renter.

Well, if renters can't then that's what investors are for, isn't it?

If you put a female realtor in Attica in a wedding dress, she would enjoy it too much and never want to leave.

indigenous says

Sure it is, because Barney told the bankers that they had to make loans that were not in their best interest he said you do not have to carry the paper you can pawn it off on Fanny and Freddy.

You have that quote for me where he said that? Please share.

indigenous says

In addition to this Goldman and ilk exploited the opportunity through derivative trading. Because of the bubble created by Greenspan to keep the economy going after the .com bust "irrational exuberance" was the order of the day.

What opportunity did they exploit? How did it relate to the CRA?

Did she then feed the severed penis to a dog?

http://www.vdare.com/articles/karl-rove-architect-of-the-minority-mortgage-meltdown

there's some truth there. I think Rove was behind all of the mistakes of the past decade.

Being a political operator, his primary mission was to make new Republicans, and since veterans and home owners trend republican, that meant making more wars and more home buyers.

And so it went. Government regulators stepped back, and let the free market do its magic.

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

Robber Baron Elite Scum says

The punishment doesn't fit the crime in both scenarios. So no.

And yes a rapist is a low-life but what he did to that woman doesn't deserve his genitals mutilated and murdered unless he did that to her... which he didn't.

Oh, he deserves it, ask any woman.

zzyzzx says

Did she then feed the severed penis to a dog?

His severed penis should be stuffed down his own throat and made to swallow.

Strategist says

Robber Baron Elite Scum says

The punishment doesn't fit the crime in both scenarios. So no.

And yes a rapist is a low-life but what he did to that woman doesn't deserve his genitals mutilated and murdered unless he did that to her... which he didn't.

Oh, he deserves it, ask any woman.

Actually, I'm a man, and by the way NOT a supporter of extreme feminism, but I say he deserved it, that is if her story is true, about his repeated abuse and blackmail. Fuck him. But what she did is a crime regardless of whether he deserved it.

Don't we all like stories about people who are thought to be meek and willing to accept endless abuse, who turn out to have suprising strength, and fight back in an over the top way ? All abusive men need to read the story.

If you're an abused woman, show the story to your man, and tell him about how much you enjoyed imaging the the man's experience, the moment that he woke up, right before getting hammered to death.

(I know - easy for me to say))

bubblesitter says

Well, if renters can't then that's what investors are for, isn't it?

Right on.
If renters can't buy, they must rent. Who would they rent from? An investor who must buy.
Either way, the sale must take place.

New Renter says

I'm a renter, I want to buy!

A new construction, single story tutor style 3400 sqft 5/3 on two acres of land in Portola Valley. It should have a full finished basement, vinyard, and horse stable and a sweeping view of the bay

$235,000 for that sounds about right.

But I can't buy that so count me among those 4M

I can't afford Silicon Valley either. That is why I did not even bother going there in the first place.
Move down to beautiful Orange County. Lower prices, better weather, and lots of jobs.

indigenous says

The real cause was what I said. I'm not going to go through this with you mutts again.

Did you go through this with us once?

indigenous says

Then you proceed to do what you are accusing me of...

I can't find where he accused you of making sense.

Bellingham Bill says

CRA/subprime didn't have shit to do with Alt-A lending taking over the system 2002-2007. Alt A was people with good credit taking out suicide loans -- negative am / teaser rate / interest only, stated-income / stated-asset, plus industry fraud at all levels, from mortgage brokers submitting fraudulent applications to the ratings agencies knowingly rating bad paper good, plus of course Wall Street operators intentionally creating CDOs that were going to blow up and then buying under-priced CDS against them.

Excellent summary. Best and most concise summary I've seen. You could add that in some cases it was stupidity based fraud (rather than outright evil), resulting from idiots who thought (even assumed) double digit gains could or would continue for years to come.

Call it Crazy says

Strategist says

bubblesitter says

Well, if renters can't then that's what investors are for, isn't it?

Right on.

If renters can't buy, they must rent. Who would they rent from? An investor who must buy.

Either way, the sale must take place.

At HIGHER house prices, of course!!

Hopefully, a lot higher prices.
I'm a biased investor.

Call it Crazy says

Strategist says

Move down to beautiful Orange County. Lower prices, better weather, and lots of jobs.

Move to New Jersey.... We have propane!!!

So can I have the house you regretted buying? I'm willing to rent it back to you.
It's an offer you cannot refuse.

You can't fix stupid, but in the great socialist paradise, you can say that all the permutations of stupid are wonderful and smart, and that all the permutations of smart are threats to the integrity of the nation.

Its the elevation of the mediocre and retarded, so that nobody has to feel bad about themselves.

Call it Crazy says

Strategist says

Call it Crazy says

Strategist says

Move down to beautiful Orange County. Lower prices, better weather, and lots of jobs.

Move to New Jersey.... We have propane!!!

So can I have the house you regretted buying? I'm willing to rent it back to you.

It's an offer you cannot refuse.

Sure, As long as you come and clean the pool each week....

You have a pool? That will be an extra $100 per month in rent.
Life is good.

humanity says

Oh, he deserves it, ask any woman.

Actually, I'm a man, and by the way NOT a supporter of extreme feminism, but I say he deserved it, that is if her story is true, about his repeated abuse and blackmail. Fuck him. But what she did is a crime regardless of whether he deserved it.

Don't we all like stories about people who are thought to be meek and willing to accept endless abuse, who turn out to have suprising strength, and fight back in an over the top way ? All abusive men need to read the story.

If you're an abused woman, show the story to your man, and tell him about how much you enjoyed imaging the the man's experience, the moment that he woke up, right before getting hammered to death.

(I know - easy for me to say))

If I was the judge I'd look the other way and let her off the hook. Let's call it temporary insanity.
I'd also give her a medal.

Call it Crazy says

Strategist says

His severed penis should be stuffed down his own throat and made to swallow.

Are you talking about your Motel 6 adventures again???

The only penis I ever touch is my own.
Any woman I touch has to be rated a "9" or else I'm not interested.

I live on the central coast California were house prices have jumped up extremely fast in the past 10 months! I'm getting ready to purchase a home for 318,000 which the home sold for 235,000 two years ago however was remodeled I'm looking for some educated direction other then my realtor who feels I'm crazy for second guessing my decision! Is it a good time to buy still or have I missed the train?

Please help!
Thank you

crflmny says

I live on the central coast California were house prices have jumped up extremely fast in the past 10 months! I'm getting ready to purchase a home for 318,000 which the home sold for 235,000 two years ago however was remodeled I'm looking for some educated direction other then my realtor who feels I'm crazy for second guessing my decision! Is it a good time to buy still or have I missed the train?

Please help!

Thank you

You missed the first train. Don't miss the next one.
It's a great time to buy.

Meaning now is still a great time to buy?

Based on the scenario given and the way things are going at the moment. Especially reading about this Tsunami of forclosures that are going to hit the market in the near future driving the price of homes down just as quick as they shot up do you still think I should buy? Or do you feel that is a huge myth? I greatly appreciate the input because I'm going to make a huge decision!

Yes, now. Before the selling season gets into high gear.
At your price range, your payments will be close to rental value for the same property.

Bellingham Bill says

mell says

levitating by a steadily weakening dollar

steadily strengthening, actually.

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

That recent weak ascend is just noise, helped by Japan going all in on fucking over their currency for good, the trend is clear. It's most useful to compare it against the 2nd most important currency, the Euro. And there the trend is even clearer.

Call it Crazy says

Strategist says

Sure, As long as you come and clean the pool each week....

You have a pool? That will be an extra $100 per month in rent.

Life is good.

I tried like hell to bypass the pool this time around, but she wouldn't give up. So, I had to make a deal with her. She can have her salt water pool (that I get to take care of) if I get a new 3 car solar powered garage/shop and a boat.

Hopefully, this crappy weather will be gone soon so I can start on the garage. I pick up my boat tomorrow.....

Get a pool boy to do it in exchange for free use of your new boat.
Everyone is happy now.

Thank you your advise is much appreciated!

John Bailo says

Is it not true, that if you don't sign up, you will have to pay a penalty of around $800 in your taxes?

Isn't it 1% of your income, with a minimum of like $95? On the other hand, you can get "free" (to you) insurance or heavily subsidized up to 400% of poverty.

So, it's a carrot and stick approach. Why take the stick when the carrot offers you insurance?

You know, I don't want your home anymore. I'll let you handle your bad investment

Article fails to mention who #1-3 were.

I want everyone else to buy and move into houses...then my rent will go down!