Skip to comments.Housing the Redheaded Stepchild during Debates
Posted on 10/20/2012 9:13:24 AM PDT by Kaslin
How about all those solutions to the housing crisis put forward by Obama and Romney during the debates?
We actually should celebrate because there are no proposals. It was government manipulation of credit markets, social engineering, and GSEs Fannie and Freddie that caused the housing collapse. The solutions implemented by the Obama administration only prove Reagan correct; the more the plans fail, the more the planners plan.
Had the housing market been left alone to self-correct we could be well on the way to recovery. Not to be when the central planners and the central bankers have their arms up to their shoulders into the housing business.
Tax credits for first time buyers, then expanded to move up buyers was the housing markets cash for clunkers moment. Rapid activity followed by a slump.
The question becomes what should we do, what is the solution to the housing market crisis?
Time for an adult conversation; it is what it is. Time to pay for the politicians folly. Allow the market to self-correct and start by repealing the Dodd Frank law that has the wheels of the mortgage industry grinding to a halt under unnecessary compliance requirements, ridiculous lending guidelines, and punishment to lenders and appraisers for making bad loans or appraisals.
Order banks to release the shadow inventory of millions of homes being held back from the market. Yes that will drive down prices, however only until the inventory is absorbed. What good does it do to hold back inventory when millions more foreclosures are in the pipeline and millions more homeowners are ninety days or more delinquent?
Wont that favor the investment class? Yes, people with money big or small who are prudent stewards of their finances will get the buys of a century. So what? Better than the taxpayer remaining on the hook.
Think of what Bernanke is doing to the dollar with his Twisting, QEternity, and printing presses. Businesses are sitting on $1.4 trillion why? They see financial Armageddon approaching; hyperinflation, fiscal cliff, Obamacare, and danger to their business if Obama gets reelected.
The same is true for housing as the dollar, both are mirages. There is no recovery in housing any more than QE3 is creating jobs. It will take the thinning of the money supply to restore the value of the dollar, and it will take the thinning of the housing inventory to restore home values.
Time for the pain, the sooner we start, the faster we finish.
In deference to Romney he has proposed a solution to the housing market during the debates, a growth economy and twelve million jobs in four years. Jobs were, are, and will be the cure to the housing market. Jobs equals buyers, equals sales, equals a lower inventory of homes for sale, restoring stability and balance in the market.
A tip for Romney when Obama again and again lies about his 47% comment taken out of context; quote the following from the great American Philosopher George Carlin who effectively sums up Obamas welfare state, economic agenda, and tax the rich solutions:
The real problem with our governmental system:
The folks, who are getting free crap, dont like the folks who are paying for the free crap, because the people, who are paying for the free crap, can no longer afford to pay for both the free crap and their own crap.
And, the folks who are paying for the free crap want the free crap to stop. And the folks, who are getting the free crap, want even more free crap on top of the free crap theyre getting already.
Now the people who are forcing people to pay for the free crap, have told the people who are receiving the free crap that the people who are paying for the free crap, are being mean, prejudiced, and racist.
So the people getting the free crap have been convinced they need to hate the people who are paying for the free crap because they are selfish. And they are promised more free crap if they will vote for the people who force the people who pay for the free crap to give them more free crap. And thats the straight crap.
Thank you George Carlin. Of course I substituted crap for the word George actually used.
he opinions expressed here are solely those of Fritz Pfister or identified sources, and not necessarily those of RE/MAX Professionals of Springfield or RE/MAX
I know that the term red headed step child is very specific and has a long and cherished history....Since we live in PC times I want to say how OFFENDED I am since my own (by birth) child is a red head....
Been waiting to say that for some time. ;)
My theory is the economy will always self-correct. But the government is spending trillions trying to re-inflate the bubble that the self-correcting economy is trying to deflate back to it's sustainable norm.
The laws of economics will always prevail.
I have heard nothing from any news source about these numbers in a very long time. With energy prices as high as they are, the impact on family cash flow has to be so severe that many would be in arrears.
I’ve been wonder why H0lder is not out on the stump for Zer0.
I’ve been wondering why H0lder is not out on the stump for Zer0.
Had the housing market been left alone to self-correct we could be well on the way to recovery. Not to be when the central planners and the central bankers have their arms up to their shoulders into the housing business. Tax credits for first time buyers, then expanded to move up buyers was the housing markets cash for clunkers moment.
I sure hear what you are saying. I come from a family with red hair, I’m a redhead, 2 of my children are redheads, and one of my grandchildren is a redhead.
None of us are step children.........
Add in the return of a decent energy policy, get away from ethanol, and we can tell the rest of the world to get in line!
I will take Romney over Zero any day of the week, but especially on Nov. 6th!
It's about how red headed step children are TREATED which says nothing about BEING a red head.
So—tell me: How are red headed step children treated?
Ans: Like every other step child.
That’s the point.
It is demeaning to call someone a “red headed stepchild” when the meaning is that somehow red headed stepchildren are treated differently.
And you need to get a life.......
I think Romney did mention Dodd-Frank as part of the problem. I feel pretty sure if Romney mentioned that, he has more ideas on helping the housing market. And I am no Romney fan but he sure beats the skittle out of Obama.
“You say we were giving mortgages to people who werent qualified. Thats exactly right. Its one of the reasons for the great financial calamity we had. And so Dodd-Frank correctly says we need to have qualified mortgages, and if you give a mortgage thats not qualified, there are big penalties, except they didnt ever go on and define what a qualified mortgage was. Its been two years. We dont know what a qualified mortgage is yet. So banks are reluctant to make loans, mortgages. Its hurt the housing market because Dodd-Frank didnt anticipate putting in place the kinds of regulations you have to have. Its not that Dodd-Frank always was wrong with too much regulation. Sometimes they didnt come out with a clear regulation.”
...because maintaining the appearance of impartiality is important to him?
Hahah, sometimes I kill me, as the saying goes.
We never 0b0z0 on the stump proudly mentioning all the good works of his Just-Us Dept. and the plans they have for the next 4 years.
We never hear 0b0z0 on the stump proudly mentioning all the good works of his Just-Us Dept. and the plans they have for the next 4 years.
Who started the red head bullshit, i’m 75 years old and have never heard of it!
oh Lordy you have no sense f humor what so ever do you???? Did I really have to include the sarcasm sign to give you a hint????
I hope you are all Scots then you can hoot and holler about it? ;)
I think we’re British—but more importantly (to me, at least) is that I’m a 7th generation Texan. LOL!
Red or auburn hair is the most beautiful. Period.
You’re sweet to day that—but it is what it is.
I’ve spent a lifetime listening to all these weird things I’m supposed to be simply because I have red hair. Now my red haired kids and grandkids are hearing the same old tired stuff.
But we’re tough—we just suck it up, and we haven’t shot anybody— yet—LOL!
Probably part of the wild Celtic band in Wales....but yes 7th generation Texan should make anyone proud