patrick.net

errc says

And once all the bad mortgage debt was gobbled up by TARP, than where did it go?

Where did treasury find all the money to buy ALL that bad debt?

Call it Crazy says

“Many Georgians completed the application process by the deadline, but have yet to pay for the coverage,” Hudgens said in a statement Wednesday.

You think they are waiting for their credit card to arrive in the mail? haha

bgamall4 says

You see how she was looking at a different camera, in another picture.

Then she would be staring into the lens of THAT camera, as it took the picture of her, not looking off to the side as if the different camera was in the same room at the same time.

This is like some of the moon hoax claims that betray near zero understanding of basic photography.

Call it Crazy says

It must be that "FREE" Obamacare thing again...

Hahahaha, I do see your point...

The part that moonbats don't get, is that their alleged conspiracy would require FAR MORE resources than just having it happen the way it was supposed to.

Landing on the moon is cheaper and easier, than an elaborate conspiracy to pretend you did. Capricorn One was just a bad movie, with a few great Sam Waterston bits, not a blueprint.

Why have a vast conspiracy to fake the deaths of people, then let them live? What's the point of this Byzantine plot? It makes sense only to crazy people.

So long the tech industry and stocks are booming, no chance for RE to decline in tech hubs (SBFA, Austin, Seattle, Boston). Recently, there is a red flag, tech stocks have been hit hard since beginning of the year e.g. AMZN has declined by 25%, GOOGL 14%, YHOO 24%, FB 25%...

"Insurer Admits Nearly 1,000 Doctors Wrongly Placed On Covered California Provider List... State regulations allow insurers to change their provider lists without notice."

Call it Crazy says

Half of Georgia's enrollees have NOT paid premium.

This looks like some pushy insurance company signed up a bunch of medicaid people in Georgia for Obamacare.
Good luck getting any money from this group unless the premium is auto drafted each month from their welfare or disability checks.

bgamall4 says

Vincente, did you know that one parent was an assistant to a woman who was a major fundraiser for the Democratic Party? And that woman has direct ties to Mayor Bloomberg, king of gun control and the one who wanted to tell people how much soda they could drink?

OMG. A member of the human race knows another member of the human race. It's a conspiracy I tells you. A giant, frothing, zionist plot to take away guns so that 'they' are free to do things that you never mention but that couldn't possibly be done because too many red necks are still armed with some guns, and all this despite the fact you seem to think said nebulous zionist cabal is already free to do as it wishes.

hanera says

So long the tech industry and stocks are booming, no chance for RE to decline in tech hubs (SBFA, Austin, Seattle, Boston). Recently, there is a red flag, tech stocks have been hit hard since beginning of the year e.g. AMZN has declined by 25%, GOOGL 14%, YHOO 24%, FB 25%...

Just in theory. Imagine both GOOG and AAPL falling apart. Enough to bring BA housing down. IMO.

Freaking - what part of "in theory" is not understood? It simply means it ain't gonna happen

Obamacare is just a bad idea. It's only a matter of time before we are all forced to pay outrageous amounts for absolutely no service.

It needs to be completely overhauled where no one is forced to buy it, or be completely repealed.

Illegals just walk into the Emergency Department are have all their needs taken care of....for free! I've seen it many times.

Nobody believes those American hate campaigns by tinhorn dictators.

Their population's vision of Heaven is a ticket to "The Price is Right."

Why doesn't he just collect his toe jam and let it mold in the closet. Same exact result.

Ceffer says

Nobody believes those American hate campaigns by tinhorn dictators.

Their population's vision of Heaven is a ticket to "The Price is Right."

Their population's version of heaven is an extra bowl of rice and NOT having three generations of family imprisoned or executed for failure to pleasure a party member enthusiastically enough.

To hold or to sell is the questions now

I'm thinking to to cashouts/helocs from these homes and invest that money in some stock/bonds/etfs which go up when we hit recession. Haven't done that research yet. Even if take money out of these properties at 5% and I only make 3% on these investments then I would be happy to pay this 2% insurance.

cloud15 says

I'm thinking to to cashouts/helocs from these homes and invest that money in some stock/bonds/etfs which go up when we hit recession. Haven't done that research yet. Even if take money out of these properties at 5% and I only make 3% on these investments then I would be happy to pay this 2% insurance.

Bond funds go up in recession.

Strategist says

Bond funds go up in recession.

Depend which recession. If you're Greece they don't.

Heraclitusstudent says

Strategist says

Bond funds go up in recession.

Depend which recession. If you're Greece they don't.

Yeah, because they can't print their own money.
We can keep printing till hell freezes over.

cloud15 says

I'm thinking to to cashouts/helocs from these homes and invest that money in some stock/bonds/etfs which go up when we hit recession.

This is how I would see that:

When you invest you get a return about 4% 'free of risks' meaning you can capture the economic growth, and you can be reasonably certain it will happen - on average.

Then you can get better returns, but these better returns also mean more risks. Meaning you may get a better return or you could blow up.

To short the market is to bet against its natural growth of 4%. On average you lose 4%.

So if you borrow money from the bank at 4% you just give away what would be the risk free part of your return, and this leaves you with the risks. Now if you bet against the market on average you lose an additional 4%.

During this time the bank is making 4% while taking no risks at all.

The same applies to people who have a mortgage but still invest savings, instead of paying back their mortgage.

But of course it's just me.

Strategist says

Yeah, because they can't print their own money.

We can keep printing till hell freezes over.

I'm thinking what were treasury bond returns in 1974?
We are trained to think of recessions as deflationary. Sometime the other thing happens.

bubblesitter says

Thanks to AAPL and GOOG. :)

AAPL shot up $41, AH. Congras.

I want to tell them what a nice man he is and what good taste he has for choosing Dennis Rodman as his personal goodwill ambassador.

So he doesn't send his black belt assassins to kill me for not worshiping him.

Visited a few open houses in SF, Cupertino and San Jose. Prices of condo have suddenly rocketed since late Jan. For example, the condo below was sold for
10% above asking & zillow's guesstimate.

http://www.zillow.com/homedetails/20517-Cedarbrook-Ter-Cupertino-CA-95014/19624933_zpid/

APOCALYPSEFUCKisShostikovitch says

Ceffer says

Why doesn't he just collect his toe jam and let it mold in the closet. Same exact result.

I know. Right? Because he is an ASSHOLE! of epic proportions and has a whole country to fuck around with.

Here's the North Korean consulate email address: dprkembassy@hotmail.com

What should we tell them to do with Kim the dictator for life?

He is the greatest leader the world has ever known. Just ask anyone in North Korea.

Call it Crazy says

Heraclitusstudent says

The same applies to people who have a mortgage but still invest savings, instead of paying back their mortgage.

The one thing you're missing with that idea.... Equity in a house is non-liquid, you can't pull it tomorrow if you need it for an emergency. And, if your house value drops, you'll never be able to HELOC back it out.

Savings that are invested are more readily available, if needed....

That's exactly what aim saying pull the equity /cash out today into my checking account at today's inflated values . Then invest that money in something which can earrn 2-3% normally but those investments go up when we hit the recession. So in affect I would be loosing money at 1-2% on my investments but if we hit the recession in next 2 years my investments go up and then I can continue to support the houses I own at 50% of today's rents ( hedging with my own money for assuming 2 years of recession ).

Heads I win, tails I don't loose :).

Still thinking, or may be I will sell one house next year.

Call it Crazy says

Savings that are invested are more readily available, if needed....

Yes that's true for 1y or so of living expenses.
Having this setup, I wouldn't do an heloc to try to short the market.

Dennis Rodman is an Obama plant tasked with learning how to make a nation love him while fucking it savagely in the ass.

cloud15 says

That's exactly what aim saying pull the equity /cash out today into my checking
account at today's inflated values

It's a line of credit, which means you can move it around wherever you please. Just don't buy a yacht or something. One of the greatest thing we did in the last cycle was took out a 200K line of credit at prime - .75% back in 2005. That HELOC was a ridicolous 2% or so and you can see how borrowing at 2% when returns are north of 10% was a gift from the bank.

You won't get those terms now, maybe prime + 0.75%, but it is handy when you need it. How else can you borrow 200K or more at 3.5%. Just open a line and leave the credit available. When things look to top out, take that cash as the banks can't get it back if you pay the interest. If the economy tanks, prime rate tanks as well.

Everyone: please take out helocs today and invest in stocks. I will purchase your homes in 10 years at reset. I'm excited about the resets coming over the next 2-3 years. Another wave in 10 years would be nice.

Call it Crazy says

HELOC Resets Could Force Lenders to Rework Loans Once Again

Once again, homeowners are beginning to see their monthly payments go up, this time because their home equity lines of credit have reached the 10-year mark and are resetting. Instead of requiring just interest payments, the second lien becomes fully amortizing and the borrower has to pay both interest and principal each month for the first time.

It is going to be painful for many borrowers who could see their monthly mortgage payments go up by $400 or more, according to Horvath, an executive vice president for Springboard Nonprofit Consumer Credit Management Inc. in Riverside, Calif.

“Just when you think you are climbing out of it, and then you got these adjustments,” he says.

He is not taking into account that many homeowners could just get another HELOC. With rising home values it should be easier.

APOCALYPSEFUCKisShostikovitch says

Houses are too cheap. No one can have any respect for a shack that can't command a few million dollars in valuation.

For a modest fee I can value any property of your choosing at whatever you feel your property is worth.

Of course my fee is a small percentage of that valuation... Gotta provide the proper inventive to get the numbers right after all.

There's definitely tangible and specific effect from the fed - the federal funds rate has been stuck at 0.25% for over 5 years now. That rate directly affects the interest rates that banks pay on savings accounts and also CDs. Since savings/CDS are considered risk free investments, it affects the valuation of other asset classes and makes riskier investments more attractive than they would have been otherwise. For example, T dividend yield is currently 5.27% which appears to be attractive when savings accts are paying 0.1%. However, if savings accts were to pay 3.75%, that 5.27% yield from T don't look as good anymore so prices for T shares would have to fall for dividend yield to rise and maintain the spread vs risk free vehicle.

Slightly off the subject...

Do you remember those ads on cable TV that were incessant for Ditech?
"Release the equity in your home. Take a vacation, pay off credit cards, buy a boat!" etc?

I have not seen any of those ads in years. Why not I sometimes wonder.....?

Actually, I don't wonder but I like the phrase.

One reason people aren't going to be selling/moving is that they're among the 50% Alt-A/Sub prime people (losers) who can't qualify for another mortgage probably, and they're probably also underwater, or treading water with the water up to their nostrils. I don't really know but it's a thought.

clambo says

One reason people aren't going to be selling/moving is that they're among the 50% Alt-A/Sub prime people (losers) who can't qualify for another mortgage probably, and they're probably also underwater, or treading water with the water up to their nostrils.

There are two additional problems:
1. Housing is expensive again. So why sell? To move up? Leads us to...
2. Typically move-up buyers have equity. Even though one's house is no longer underwater, there is likely not enough equity to make a significant downpayment.

So if the fed is only there to help the poor, by making operating costs cheaper, by lowering interest rates from 1.1% down to 1.0%, the govt only exists to screw the poor by making operating costs higher via taxes.

Welcome to bizarro world

clambo said: Do you remember those ads on cable TV that were incessant for Ditech?
"Release the equity in your home. Take a vacation, pay off credit cards, buy a boat!" etc?
Have you seen the ads Wells Fargo has been running lately (I think they debuted on YouTube in the last week or two). From what I can tell, they are encouraging people to take out loans to "pursue their dreams" which includes:
1. A music career
2. A motorcycle purchase
3. A kitchen remodel
Here we go again.

Every time one of these Conservatarians says something like this, or, like much of Ron Paul's old team or Zimmermann's fan club president, turns out to be a white supremacist, it's pure coincidence.

The Democrats are the real racists.