User Tag List

+ Reply to Thread
Page 1 of 2 12 LastLast
Results 1 to 10 of 12

Thread: Housing Bargains Available but Only for the Banks

  1. #1
    Original Ranter
    Points: 83,174, Level: 70
    Level completed: 31%, Points required for next Level: 1,676
    Overall activity: 7.0%
    Achievements:
    Social1 year registeredTagger Second Class50000 Experience PointsYour first Group
    Conley's Avatar Senior Member
    Karma
    7385
    Join Date
    Jun 2011
    Posts
    22,475
    Points
    83,174
    Level
    70
    Thanks Given
    4,582
    Thanked 2,491x in 2,002 Posts
    Mentioned
    224 Post(s)
    Tagged
    1 Thread(s)
    Rep Power
    98

    Housing Bargains Available but Only for the Banks

    NEW YORK (RealMoney) -- The largest transfer of wealth from the public to private sector is about to begin. The federal government will be bulk-selling the massive portfolio of foreclosed homes now owned by HUD, Fannie Mae and Freddie Mac to private investors -- vulture funds.

    These homes, which are now the property of the U.S. government, the U.S. taxpayer, U.S. citizens collectively, are going to be sold to private investor conglomerates at extraordinarily large discounts to real value.

    You and I will not be allowed to participate. These investors will come from the private-equity and hedge-fund community, Goldman Sachs(GS_) and its derivatives, as well as foreign sovereign wealth funds that can bring a billion dollars or more to each transaction.

    In the process, these investors will instantaneously become the largest improved real estate owners and landlords in the world. The U.S. taxpayer will get pennies on the dollar for these homes and then be allowed to rent them back at market rates.

    http://www.thestreet.com/story/11224...t-for-you.html

    Another example of how the government has been commandeers by the big banks. It's wealth transfer on a massive scale. >
    This is just like the situation with bond sales and purchases...Goldman Sachs and the others can't help but make money hand over fist when the government is set up this way. They make money on the sale and on the repurchase.

  2. The Following 2 Users Say Thank You to Conley For This Useful Post:

    Peter1469 (11-11-2012),waltky (11-10-2012)

  3. #2
    Original Ranter
    Points: 117,978, Level: 83
    Level completed: 45%, Points required for next Level: 1,672
    Overall activity: 97.0%
    Achievements:
    SocialRecommendation Second Class1 year registeredOverdrive50000 Experience Points
    Mister D's Avatar Unenlightened
    Karma
    17080
    Join Date
    Jun 2011
    Posts
    36,677
    Points
    117,978
    Level
    83
    Thanks Given
    4,221
    Thanked 5,199x in 4,284 Posts
    Mentioned
    200 Post(s)
    Tagged
    1 Thread(s)
    Rep Power
    209

    Re: Housing Bargains Available but Only for the Banks

    Stop pissing and moaning. : Behind closed doors I'm sure many pols wold probably agree that this is nuts but they don't want to lose their financing. Sorry, dude. This is just the reality of the world we live in.
    Whoever criticizes capitalism, while approving immigration, whose working class is its first victim, had better shut up. Whoever criticizes immigration, while remaining silent about capitalism, should do the same.


    ~Alain de Benoist


  4. #3
    Original Ranter
    Points: 83,174, Level: 70
    Level completed: 31%, Points required for next Level: 1,676
    Overall activity: 7.0%
    Achievements:
    Social1 year registeredTagger Second Class50000 Experience PointsYour first Group
    Conley's Avatar Senior Member
    Karma
    7385
    Join Date
    Jun 2011
    Posts
    22,475
    Points
    83,174
    Level
    70
    Thanks Given
    4,582
    Thanked 2,491x in 2,002 Posts
    Mentioned
    224 Post(s)
    Tagged
    1 Thread(s)
    Rep Power
    98

    Re: Housing Bargains Available but Only for the Banks

    Quote Originally Posted by Mister D View Post
    Stop pissing and moaning. : Behind closed doors I'm sure many pols wold probably agree that this is nuts but they don't want to lose their financing. Sorry, dude. This is just the reality of the world we live in.
    not actually behind closed doors the Pols are happy with the way things are going. They're getting cash money in large amounts. Between lobbyists and bouncing back and forth between private and government employment it's all gold for them.

  5. #4
    Original Ranter
    Points: 117,978, Level: 83
    Level completed: 45%, Points required for next Level: 1,672
    Overall activity: 97.0%
    Achievements:
    SocialRecommendation Second Class1 year registeredOverdrive50000 Experience Points
    Mister D's Avatar Unenlightened
    Karma
    17080
    Join Date
    Jun 2011
    Posts
    36,677
    Points
    117,978
    Level
    83
    Thanks Given
    4,221
    Thanked 5,199x in 4,284 Posts
    Mentioned
    200 Post(s)
    Tagged
    1 Thread(s)
    Rep Power
    209

    Re: Housing Bargains Available but Only for the Banks

    Quote Originally Posted by Conlette View Post
    Quote Originally Posted by Mister D View Post
    Stop pissing and moaning. : Behind closed doors I'm sure many pols wold probably agree that this is nuts but they don't want to lose their financing. Sorry, dude. This is just the reality of the world we live in.
    not actually behind closed doors the Pols are happy with the way things are going. They're getting cash money in large amounts. Between lobbyists and bouncing back and forth between private and government employment it's all gold for them.
    I'd imagine that at least of them do have pangs of conscience about the way things are but, in any case, stop pissing and moaning. It's just the reality of the world we live in. Oh well.
    Whoever criticizes capitalism, while approving immigration, whose working class is its first victim, had better shut up. Whoever criticizes immigration, while remaining silent about capitalism, should do the same.


    ~Alain de Benoist


  6. #5
    Points: 1,724, Level: 9
    Level completed: 58%, Points required for next Level: 126
    Overall activity: 52.0%
    Achievements:
    7 days registered1000 Experience Points
    waltky's Avatar Senior Member
    Karma
    355
    Join Date
    Oct 2012
    Posts
    352
    Points
    1,724
    Level
    9
    Thanks Given
    204
    Thanked 46x in 40 Posts
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Rep Power
    5

    Angry

    Housing industry still strugglin'...

    2008-2012: Housing markets still struggles
    Oct. 22 (UPI) -- A five-point glance at the U.S. housing market shows more communities worse off now than four years ago, online foreclosure marketplace RealtyTrac said Monday.
    While ignoring lag time inherent in a deteriorating housing market, RealtyTrac said in a statement that 65 percent of local markets -- 580 out of 919 communities monitored -- were worse off using a five-point grading system than they were four years ago. The firm found 315 of 919 (35 percent) were better off in three out of five categories.

    The firm checked average home prices, unemployment, foreclosure inventory, the number of foreclosures initiated by banks (called foreclosure starts) and the percentage of home sales that involved distressed properties, which include bank-seized properties and those in some stage of foreclosure.

    In a report released Monday, "Election 2012 Housing Health Check," RealtyTrac said unemployment rates are higher in 90 percent of all counties involved in the study and that "the foreclosure picture is mixed, with slightly more than half of all counties documenting lower foreclosure inventory and fewer foreclosure starts compared to four years ago."

    Read more: http://www.upi.com/Business_News/201...#ixzz2A5hj0Aiq

  7. #6
    Points: 25,433, Level: 38
    Level completed: 84%, Points required for next Level: 217
    Overall activity: 0%
    Achievements:
    SocialYour first GroupCreated Album picturesTagger First ClassRecommendation Second Class25000 Experience Points1 year registered
    Deadwood's Avatar Senior Member
    Karma
    6488
    Join Date
    May 2012
    Location
    Vancouver, BC - dual citizen
    Posts
    3,472
    Points
    25,433
    Level
    38
    Thanks Given
    2,585
    Thanked 1,750x in 1,197 Posts
    Mentioned
    35 Post(s)
    Tagged
    0 Thread(s)
    Rep Power
    69
    Quote Originally Posted by Mister D View Post
    I'd imagine that at least of them do have pangs of conscience about the way things are but, in any case, stop pissing and moaning. It's just the reality of the world we live in. Oh well.
    Yeah?

    Show me where else it's happening.....


  8. #7
    Points: 1,724, Level: 9
    Level completed: 58%, Points required for next Level: 126
    Overall activity: 52.0%
    Achievements:
    7 days registered1000 Experience Points
    waltky's Avatar Senior Member
    Karma
    355
    Join Date
    Oct 2012
    Posts
    352
    Points
    1,724
    Level
    9
    Thanks Given
    204
    Thanked 46x in 40 Posts
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Rep Power
    5

    Cool

    Using housing market relief to grow Main Street...

    Housing Recovery Could Blunt a Fiscal Cliff Standoff
    11/09/12 --- As Republicans and Democrats brace for a budget standoff based on ideological differences on tax hikes and their impact on small business, lawmakers may find common ground by including housing market relief into discussions on how to grow Main Street America.
    It's clear after Republican House majority leader John Boehner took to airwaves for a second time since President Barack Obama's re-election that a partisan budget divide may push the United States over a so-called 'fiscal cliff' of tax increases and government spending cuts scheduled for early 2013. But in scoring the points made by Boehner about resisting tax increases that could harm small businesses versus a Democratic platform to end Bush-era tax cuts on top earners - including a recovering housing market to the debate could create room for negotiation.

    Notably, Boehner's refusal to restore pre-Bush tax rates on those earning $250,000 and over hinges on the negative impact the hike would have on small businesses, which often declare earnings as personal income. Small business hiring is one of the weak parts of recent monthly employment reports, notes the National Federation of Independent Business, and a bump up in high income tax rates could impact roughly one million small businesses, according to calculations from the Joint Committee on Taxation.

    If small business is the focus of whether a budget deal - a so-called 'grand bargain' - can be reached, then it's time for lawmakers in both parties to widen the scope of their discussion on how to bolster that segment of the U.S. economy, which Bureau of Labor Statistics data suggests is a key missing ingredient to employment. Tax rates, whether they remain at current levels for small business or if they increase to pre-Bush levels, aren't the only factor holding back growth and hiring in the sector.

    Other key issues include still shaky consumer confidence, weakness in large European and emerging market export economies - and most crucially - fragile small business access to capital by way of bank credit or home equity borrowing. The widespread consensus among economists, including Lawrence Yun of the National Association of Realtors, is that home equity - the positive difference between a home's value and an owner's mortgage liability - is a key source of capital for small businesses, in contrast to thawing equity and debt options that are available to mid-and-large-sized businesses.

    MORE
    See also:

    More Houses for Consumers Meant More White House for Obama
    11/09/12 --- While Democrats celebrate President Obama's re-election victory and Republicans are left to pick up the pieces, pundits are busy tweeting and texting the reasons why the president won so handily.
    But few are talking about the U.S. housing market and its re-emergence as a huge factor in the U.S. economy, and, as it turns out, in the re-election of the president. Check that -- at least one outfit is crediting the recent housing boomlet as a major reason the white House remained in Democratic hands. A new report out by Clear Capital, a Truckee, Calif., real estate financial services firm says that the president was "assisted" by the housing market's "sprint" over the past few months. But the firm says that the housing market is a fickle beast, and that a full-blown housing recovery may not be in the cards over the next four years.

    The firm's HDI Market Report, which tracks the housing market through the end of October, shows positive housing trends "were a tailwind" for President Obama's election. But while that tailwind was enough to help propel the president to victory on Tuesday, the longer-term view is less bullish. Clear Capital says that "phase two" of the housing market recovery largely relies on the White House and Congress working with the housing industry to "reduce regulatory uncertainty." "Now that the election is finally behind us, there should be no more political risk in addressing the housing problem head-on," offers Alex Villacorta, director of research and analytics at Clear Capital. "President Obama's housing policies must evolve to turn the recovery's sprint into a marathon."

    Villacorta points to an average U.S. home price appreciation figure of 4.6% this year, which "caught the attention of voters." Now that voters are tuned into the housing market, it would be a great time for the president to develop a "bold" housing market policy that boosted lending from banks and mortgage companies. "Even with the higher-than-historical annual average returns, lenders are still understandably cautious in the current environment of regulatory uncertainty," Villacorta adds. "And that's left the middle class out in the cold, enticed by record affordability levels but unable to qualify for a loan. President Obama's opportunity is now to press policy-makers to clear up regulations. Only then will lenders have confidence to fully re-engage in the housing market."

    Even if housing did enough to push the president across the finish line, the market has a long way to go before fully recovering. Clear Capital says that while home prices are up by 4.6% in 2012 overall, prices are still off an average of 37.6% from the market peak in 2006. "Whether directly or indirectly, it would be hard to find a voter who hadn't been adversely affected by the housing collapse, and many are still at risk," says the Clear Capital report. "Given these losses, a home purchased for $200,000 in 2006 would likely be worth just $124,800 today. Obviously housing is a central issue for many voters, and we still have a long road ahead of us."

    Source

  9. The Following User Says Thank You to waltky For This Useful Post:

    Conley (11-11-2012)

  10. #8
    V.I.P
    Points: 65,749, Level: 62
    Level completed: 62%, Points required for next Level: 801
    Overall activity: 28.0%
    Achievements:
    Social1 year registered50000 Experience Points
    Mainecoons's Avatar Senior Member
    Karma
    13333
    Join Date
    Feb 2012
    Posts
    12,608
    Points
    65,749
    Level
    62
    Thanks Given
    7,101
    Thanked 4,129x in 2,965 Posts
    Mentioned
    114 Post(s)
    Tagged
    0 Thread(s)
    Rep Power
    148
    This administration has taken very good care of the one percenters. And done an even better job of snowing the suckers that voted for it so they haven't a clue about the sell out.

    No wonder some of them don't mind a tax increase of a few percent when Barry has added billions to their portfolios.

  11. The Following 4 Users Say Thank You to Mainecoons For This Useful Post:

    Calypso Jones (11-10-2012),Conley (11-11-2012),Peter1469 (11-11-2012),waltky (11-11-2012)

  12. #9
    Points: 15,484, Level: 30
    Level completed: 4%, Points required for next Level: 966
    Overall activity: 0%
    Achievements:
    Social10000 Experience Points1 year registered
    Calypso Jones's Avatar Senior Member
    Karma
    3523
    Join Date
    May 2012
    Location
    Shenandoah Valley, Virginia
    Posts
    3,293
    Points
    15,484
    Level
    30
    Thanks Given
    662
    Thanked 917x in 684 Posts
    Mentioned
    40 Post(s)
    Tagged
    0 Thread(s)
    Rep Power
    40
    hush.

  13. #10
    Points: 14,377, Level: 28
    Level completed: 92%, Points required for next Level: 73
    Overall activity: 1.0%
    Achievements:
    1 year registered10000 Experience Points
    Ivan88's Avatar Senior Member
    Karma
    599
    Join Date
    Aug 2012
    Posts
    1,601
    Points
    14,377
    Level
    28
    Thanks Given
    209
    Thanked 171x in 152 Posts
    Mentioned
    7 Post(s)
    Tagged
    0 Thread(s)
    Rep Power
    8
    A lot of gung ho war crazy Yankees surrendered their jobs and their houses to the bankers so that the wars can continue.

    So Yankees should not feel bad about the war profiteers ripping everyone off over houses when we are so happy about the trillions they stole from us in all these insane wars we are so in love with.

    In America, we take care of our super rich folk.

    Last edited by Ivan88; 11-11-2012 at 02:02 AM.

+ Reply to Thread

Similar Threads

  1. U.S. to sue big banks over mortgage securities: report
    By wingrider in forum The Latest Happenings
    Replies: 3
    Last Post: 10-24-2012, 07:34 PM
  2. Today Is National Take Your Money Out Of Banks Day
    By jgreer in forum The Latest Happenings
    Replies: 8
    Last Post: 11-08-2011, 05:05 PM
  3. Replies: 10
    Last Post: 10-20-2011, 07:14 PM
  4. States Offer Banks Immunity From Mortagage Lawsuits.....
    By MMC in forum The Latest Happenings
    Replies: 1
    Last Post: 09-08-2011, 10:15 AM
  5. U.S. Government Sues 17 Banks for $200 Million
    By Conley in forum The Latest Happenings
    Replies: 4
    Last Post: 09-04-2011, 11:01 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts


Linksgrower Forum Topsite Critical Acclaim
Top Ron Paul Sites - Ranking the best Ron Paul related Freedom and Liberty Websites
Single Sign On provided by vBSSO