Skip to comments.Existing home sales drop 3.8% (Obama's booming economy! /sarc)
Posted on 06/21/2011 8:42:26 AM PDT by tobyhill
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Agreed. Student loans is the next big thing. I made it through two degrees without ever taking a student loan (scholarships), and I am thankful. A lot of my friends were raving about student loans, and how they bought cars, etc. I am so very, very grateful that I never ended up taking one. I racked up other debts, for cars, etc., but never a student loan, I guess I was lucky.
Speaking of the Dept. of Education, we now know what those shotguns were for that they purchased a few years ago. Soon government will control virtually all jobs by declaring a license is required to do anything, and that a degree is required for the license. Then they just raise the amount of Pell Grants until tuition is skyhigh, and they can control who can work and who can’t. They’re already doing it, it’s only a matter of time before everything is regulated out of existence or into governmental hands.
There are numerous goings on with housing. I read some months ago that the reason bank’s are sitting on foreclosed houses (I hear they are foreclosing less because of the paperwork/MERS debacle), is because there is some program that will pay a bank up to 85% of the NOTE value, if they sell it at auction. Therefore they forclose, and go to auction, refusing any offers on the house, because if it’s less that 85% of the original NOTE we the people pay the difference and pick up the tab. Hence, keeping housing prices skyhigh, too (Beside yesterday’s news that there’s a $1 Billion fund to help pay for people’s mortgages/loan), the goal is to make housing further unaffordable to the common man.
(Transportation is next, mark my words. They are all going on in tandem, but it’s only slightly behind, lest the frog boil too quickly.)
Since the bubble burst, the banks are requiring real downpayments and that the borrower actually have a job. That cuts down the pool of potential buyers. Plus the potential buyer market is much less because so many of them are not working. And there is a glut of houses on the market that skews the whole supply portion of the market. This situation won’t clear up until the feds back out of running this industry.
Bad weather and high gas prices? Surface thinking or just repeating what they are told by the baraq regime.