26 Reply by Newb (edited by Newb 09-Sep-2008 17:53:35)

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Re: US Gov takes over mortgage firms

> Theodora wrote:

> So I'm guessing this means that those claims by certain right wingers a year or two ago about the housing market being fine and dandy were wrong. tongue
____________
Agreed tongue

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Re: US Gov takes over mortgage firms

It was idiot investors who did not look at the loans they were "buying enmass" and seeing "No downpayments, no income requirements, no savings, no nothing" as 'no problem'.

I say let those idiots suck it in. They will check their investments in the future.

Everything bad in the economy is now Obama's fault. Every job lost, all the debt, all the lost retirement funds. All Obama. Are you happy now? We all get to blame Obama!
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Re: US Gov takes over mortgage firms

BW - I think there are better ways to "keep the value of your money" - I won't lie, but then again with such a weak market... but it would be extremely helpful to most commodity based industrial type companies facing commodity price growth driven by china.

Really, it could be done very simply - even a 25% investment in 4 currencies - dollar, yen, euro, pound - and then you wouldn't face weakness of the dollar in purchasing overseas goods, weakness of the dollar in purchasing home goods as compared to the overseas strengthening currencies, the money would grow basically at the same rate as the industrialized world, and you wouldn't be seeing your investment drop by 40% (as the dollar has done recently) at any point - unless the whole world is going with it... which wouldn't be happening.  Just something I've been considering - certainly has some merit to it...

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Re: US Gov takes over mortgage firms

@ Theo...

Yes.  They were wrong.
I was wrong..... I remember saying, after a run up like this, there is bound to be a roll back....
Also, if you look at the historical trend line, housing prices regionally are still on their slopes.

Are the individual markets that are worse off ??  Sure there are....those are the ones the media focuses on, to paint the bleakest picture possible.
There are individual markets that are up over the past 2 years......those the Media would NEVER show....God forbid....

The govt. stepped in, and destroyed the housing mortgage market.
the ramifications of that is an overall tightening of over all credit.

its a waiting game now.....everyone is holding pat..... I know I am.
I'm ready to move on my next property, but I'm waiting for stability.
There are a lot like me around....all waiting to jump.

Come .......joust w/the master.
I'm always Right.   You are just intellectually Left.....behind.
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Re: US Gov takes over mortgage firms

/me bought his home 3 years ago for 55k and just sold it for 74k - no housing slump in Lubbock, Tx - guess we're smarter than those crazy-coast liberals or something wink

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Re: US Gov takes over mortgage firms

yeah the Caribbean Sea called, it's running a day late but it'll be at your house sooner or later

The core joke of Hitchhiker's Guide to the Galaxy is that of course no civilization would develop personal computers with instant remote database recovery, and then waste this technology to find good drinks.
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Re: US Gov takes over mortgage firms

TEXAS !!!

You God fearing, gun toating, Small town, errrrrr,   No nothing...... you !!!!!

Nice score big_smile

Come .......joust w/the master.
I'm always Right.   You are just intellectually Left.....behind.
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33 Reply by The Yell (edited by TheYell 10-Sep-2008 03:40:30)

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Re: US Gov takes over mortgage firms

Awwwwwwwwwwwwwwwwww shaddaaappp

/me returns to fricking Ground Zero of the final battle for the Planet of the Apes

People who enjoy themselves are annoying to californios!

You hear there's a move to recall Ahnuld?

The core joke of Hitchhiker's Guide to the Galaxy is that of course no civilization would develop personal computers with instant remote database recovery, and then waste this technology to find good drinks.
Steve Jobs has ruined this joke.

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Re: US Gov takes over mortgage firms

US Is "More Communist than China": Jim Rogers

The nationalization of Fannie Mae and Freddie Mac shows that the U.S. is "more communist than China right now" but its brand of socialism is meant only for the rich, investor Jim Rogers, CEO of Rogers Holdings, told CNBC Europe on Monday.

"America is more communist than China is right now. You can see that this is welfare of the rich, it is socialism for the rich

The inmates are running the asylum

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Re: US Gov takes over mortgage firms

Now Lehman bank is bk,AIG will be next.

The inmates are running the asylum

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36 Reply by CanadianTire (edited by CanadianTire 15-Sep-2008 12:11:40)

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Re: US Gov takes over mortgage firms

"I say let those idiots suck it in. They will check their investments in the future."
- Flint, it's not the investors who will lose out, it's the American economy at large. You seem to be forgetting how much control Fannie and Freddie have over the American economy. If they fall, then it's likely the only viable part of the US economy would be natural resources, which would also decline as people would no longer be able to afford $1.38/ litre of gas, and lumber prices have been sky rocketing these past few years. Lumber manufacturers can say good bye to that if no one is building houses.

"/me bought his home 3 years ago for 55k and just sold it for 74k - no housing slump in Lubbock, Tx - guess we're smarter than those crazy-coast liberals or something"
- I can't be sure, but I think 3 years ago the CAD was at 0.75 VS the USD. So a house at 55k USD would be... $41,250 CAD? Must have been a small house tongue

"In a world of global deceit, telling the truth is a revolutionary act." George Orwell

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Re: US Gov takes over mortgage firms

I looked it up,Lubbock is in the middle of nowhere.

The inmates are running the asylum

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