Posted on 11/19/2012 7:24:16 AM PST by Kaslin
Did you ever see “Pottersville” from “It’s a wonderful life?
Quite simple. To make a loan payment, you need a job. To make a large loan payment, you need a good paying job. If the number of jobs, especially good paying jobs is declining, stagnant or growing - then the number of potential buyers will do likewise.
With Obama unchained, the number of jobs will, I predict, decline or stagnate. Same with the housing market.
Of course, that will not be true of every area, but nationally, and this is what my current crystal ball says, that will be the trend.
No worries, comrade! Soon the people will own the real property.
‘Due in part to an improving labor market” Really? Where? This administration seems quite content with a stagnant labor market and GDP below 2%. If they are concerned they have no plans to improve them.
Teh fact that the wealthy are able to purchase homes larger than they need, on the backs of the oppressed workers, is a good indication of how the housing market will go. Such a condition goes against social justice and basic fairness.
Add in Agenda 21 and the need to keep the population within urban areas and you see the whole picture.
Oh, contrair. Have you been following the news? It sounds like the Obama Administration is pushing for some relaxed lending rules to help spur the mortgage and residential realestate market. Sound familiar?
Specifically, they want fairness and have suggested that banks are discriminating against "low income" and "minority neighborhoods". Now does it sound familiar? No?
How about this. Freddie and Fannie will assume high risk mortgages under a special program if they can pass legislation to encourage banks to take higher rists? What about now?
We may be too stupid to govern ourselves as a nation anymore. We never learn.
Why doesn't THIS media ever point out that our GDP, economy and employment growth is not even keeping up with population growth? They were very quick to jump on this and exagerate what growth needed to be in about 2002 as "Bush's Economy" started to boom. Remember, it was a "jobless" recovery? Only low wage jobs were comming back in Bush's economy. "We may have added 250,000 jobs, but they are lower paying jobs...." was the media reports.
I know the answer. Rhetorical question really.
“To make a loan payment, you need a job.”
To make a loan payment, you need a loan. To get a loan, you need a STABLE job AND an acceptable credit rating. If the loaning institutions are reputable, they won’t frivolously lend money to unqualified buyers. If unqualified buyers are not “buying” houses, then...... And if your job has questionable stability/longevity, then don’t be stupid and over-extend your debt capacity. IF Obama has this “dream” of granting home-ownership for everyone by raising taxes, then the bottom will fall out for all of us.
I think I missed something important here. Is there a sarcasm tag or something? What is agenda 21?
....Giving the benefit of the doubt and assuming I'm confused....
Further, a part of the premise of this article is incorrect. The housing market has not made recent improvements, as per a number of folks I know in real estate sales (and related industries) nationwide. Many of the positive stories the media promoted prior to the election appear to be nothing more than politics.
Added to this, the full implementation of Dodd/Frank is going to mean further restrictions on lenders which translates into even fewer sales.
Obama will guarantee that any gains in the past 4 years will be nullified with perpetual stupidity.
“The most glaring absence during the hard-fought campaign between President Barack Obama and Mitt Romney was any offer of substance regarding the housing market.”
There was not much substance offered on *any* subject, except the firing of Big Bird. For example, why didn’t the GOP beat the commies senseless over the lack of a congressional budget for the past three years? Something is ROTTEN in DC, and 48% of the voters know it.
It's a minaret...
Well, let’s review....FHA is about to beg for more money; Fannie Mae and Freddie Mac are crippled by corruption; the major banks are holding a huge inventory of foreclosed loans - hoping to avoid a huge loss (good luck with that) that would be the result of dumping all of these homes on the market at once; unemployment remains high, and; businesses are issuing pink slips by the wagon load.
Sounds like a firm foundation for a housing boom to me!!
Maybe this guy would understand the “housing market” if he spoke of it in terms of being part of the economy, instead of treating it as if it is some isolated non-related sector.
Housing would sovle itself, it the economy would recover, which would only happen with LESS government and not more.
New Section 8 tenants moving in next-door to your $870,000 McMansion
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