patrick.net

HousingWatcher says

Then your voting for the wrong canduidate because the economy and the mortage market will collapse under Ron Paul so nobody will be able to buy a house, except for thsoe with huge cash reserves and do not require an income to make their payments.

False statement, already proved in this thread. No, housing market won't collapse and stop making blind assertions.

Prove that the economy will not collapse under Ron Paul. That thread did nothing to prove so.

HousingWatcher says

Prove that the economy will not collapse under Ron Paul. That thread did nothing to prove so.

I repeat:

Most of the damage to the economy in terms of housing is almost done. We lost all the jobs that were related to the boom and there's painful reallocation of labor going on right now, which is evident from the high unemployment rate. Another leg down in prices might induce more pessimism but it really cannot collapse the economy.

The reason why the economy could collapse is a corrupt government in combination with cut-throat corporations that are literally sucking away tax payer money.

Which part of the above statements do you not understand?

And what do you mean by collapse?

Real estate is a "real" asset; unlike stocks or bonds or brokerage accounts which can be written off with a stroke of a pen, real estate cannot be written off worthless. It will still have value, as long as people desire to live in that place.

You don't think brokerage accounts can be written off? See MF global fiasco for proof. Google rehypothecation and understand what happened.

Government intervention removal from the housing market will help buyers truly discover the prices of houses. Because as I state above in my reply to tatupu, the qualification of the buyer which the bank will vet (in order to finance a loan) will be more strict.

The economy most certainly can collapse much more than it has. If you don't believe me, ask Spain and their 21% unemployment rate. Like the U.S., Spain had a massive housing bubble. But unlike us, they really did not do anything to prop up the economy or housing prices since, by belonging to the Euro, they cannot print money.

HousingWatcher says

StillLooking says

I am voting for Ron Paul for many reasons, but one big reason I am voting for Ron Paul is that I would like to buy a house.

Then your voting for the wrong canduidate because the economy and the mortage market will collapse under Ron Paul so nobody will be able to buy a house, except for thsoe with huge cash reserves and do not require an income to make their payments.

What will happen if Ron Paul gets elected is that we will have a true market for housing. As it is now, we have an artificial market and buying a house is a pure crapshoot. And here in Chicago because of all this government interference, if you buy a house it is unlikely that the price is going anywhere but south unless the government succeeds in giving us Zimbabwe type money.

HousingWatcher says

Prove that the economy will not collapse under Ron Paul. That thread did nothing to prove so.

That's the most stupid thing i've read here. You are sitting on the second floor of completely eaten by termites wooden house affraid to move because the house will collapse. Of course the fake economy we got now will collapse.

We'll have a short but furious recession. But it will end in about half a year, when everyone will start rebuilding the house of real economy. Whithout Paul what you call the economy will keep sliding down for 4 more years and will collapse anyway.

michaelsch says

We'll have a short but furious recession. But it will end in about half a year,

Only half a year? Really? Where is the evidence?

StillLooking says

And here in Chicago because of all this government interference, if you buy a house it is unlikely that the price is going anywhere but south

Hold on. Everyone on patrick.net constantly says that govt. is INFLATING the price of housing. Is govt. interference inflating or deflating housing? Make up your minds people.

I heard an interview today with an economic historian (Tarpley?) who analyzed Mr. Paul's tax proposals. It seems that he wants to roll back corporate taxes to a lower level, eliminate the estate (death) tax, eliminate capital gains tax, and lower the top marginal tax rate. Working people need not apply, there won't be any lowering of their tax rate.

The 1 percent will be well served by these proposals.

Paul's campaign website says he supports a flat tax or a fair tax (a.k.a. national sales tax). Both of these taxes would only benefit the rich, especially considering that a sales tax is highly regressive. So under Paul, poor people would get a huge tax increase while the rich get a tax cut.

And as far as cpaital gains and estate taxes, those taxes are mainly paid by rich people. It's yet another tax cut for the 1%.

I wonder how many Paulbots realize that their hero Ron Paul wants to raise their taxes....