NY Post: Obama Admin Setting Up Another Housing Crisis.

Also, do you have any idea how retarded you sound when you call anyone who disagrees with you a liberal? Your enemy should be those with the wealth, for they have the power. The US government sure as hell doesn't have any wealth.

Who took the bad loans? Who made the decisions to take the bad loans?

Taxpayers

Not Obama.

There are a lot of conspiracies, but this != one of them.

try getting on a texas unemployment fone line.always jammed but the economy is doing great.lol
postage stamps lowered 2 cents,deflation baby!
no worries.when yellowstone goes off,china and india will be left holding mortgages on flyash.
the economy will boom as yanks move south and by up all the vacant houses and farm land.
the south will rise again!

The only way the south will rise again is if a volcano erupts below it.

You have hit upon the crux of the whole biscuit by mentioning Section 8 housing.
In the last 20 years, every single established neighborhood has been destroyed by this expanded program to include all the 2nd 3rd and 4th gen of welfare recipients and to a lesser extent, working poor.

Once it took hold, every home was put up for sale to be bought and turned over to more Section 8 or the owners joined the club. Nobody wants to feel like the greater fool paying a mortgage on a home where all around them are subsidized housing on the taxpayer dime. And the move is sooner rather than later before the home values in the neighborhood fall.
And fall they do. It is in short order a crime ridden neighborhood of what was once lower middle and middle class safe environments.

Now, I am reading that there is a need to further expand the burgeoning rolls of Section 8 applicants and some discrimination issues that will require the new garden home/tract home neighborhoods that were hastily built in the burbs to replace the other homes, are now themselves again in line to become Section 8 housing!

This is a major issue in RE.

As someone that works at a big name investment bank, the investment banks run 200 to 500mm warehouse lines of credit to the lenders that lend subprime auto loans. Then the loans are bought back by the bank, and (just like the mortgage industry), sliced up into tranches. AAA...etc.

Default rates on the 2014 bond were about 2.5%, now they are closer to 4%.

But foreclosing on a car can be done within days, but a house could be a 2 year legal battle.

Also the subprime auto situation is a tenth of the 2008 housing by dollar amount.

However, combined with energy defaults (the only collateral is land and equipment that's worth a quarter of its original worth), 40% of college loans not being paid on time or at all, and the job losses, the economy is on track for a serious collapse.

Yep.

Dang..this post looks familiar...

Thread: Article:'Obama setting nation up for another housing collapse

how can you put apple in that motley crew---point taken though--you forgot Amazon, too

Yeah, but look! Bakkabawl! And cold beer!

[link to www.bloomberg.com]

In addition to the iPhone, Apple’s other product lines are also stalling. iPad purchases continued to decline, falling to 16.1 million tablets during the holiday quarter, compared with a projection of 17.3 million. Mac sales fell to 5.31 million, compared with the 5.8 million estimated.

Because they are digital Beanie Babies.

Once you boil it all down, yes. They make loans to people who can't afford them, then come crying to Congress for a bailout. Great system, for the banks that is. The responsible homeowner, the one who actually pays taxes is the one getting fucked instead of the assholes that lived like Kings on someone else's money courtesy of Uncle Sam.

Taking money from a white man, they should be ashamed as much as they publicly profess their hatred of Whites.

I agree with another poster who said take all the unemployed naggers and make Mississippi their very own country to run any way they want. Good luck!

They are now allowing homes with out running water to pass appraisal.

I was there back in 08 when they were lending on vacant homes with no utilities and raising their value 60% or more. Entire neighborhoods would be sold with no one living in a single house. Homes went from $20k homes to $120k almost over night, yet no one ever moved in to them.

The appraisers warned me a year go we were starting to over lend again. When people put 3% down on a home worth 100k, yet the person paid $110k for the home, when they miss a payment they can't afford to sell, they miss a payment & they foreclose. If they would have had to put 20% down they would have had enough equity to sell and walk away with a little money.

Also "truth in lending" just limited how much a loan officer can make, it was supposed to stop over charging of money that goes directly in the pockets of the person who drew up the loan. Well I don't know how the goverment F'd up so bad, but we now have lending institutions charging 3 grand more then they did last year for a loan. I'm seeing $7000 charges for loans when they should be about $4000 because of loopholes. The loan officer is making less, but the originators are raking the money in hand over fist robbing people who don't know they are being over charged thousands...

BUT....But....but no money down mortgages was a useful financial instrument....I was flipping like a Macdonald grill man back in da day....just smart enough to get out before the music stopped....

Stupid is as stupid does.

Some how that quote works real well for this post. The policy led to financial trouble and people knew this.

Just let us white folks flee somewhere else first!!

I agree with that for sure. People will need to be retrained to learn different skills. The only problem I see is all of this hitting at once and with so many asleep people they'll get caught off guard. And instead of actually doing something the government will most likely point fingers not interested in helping people, only getting people angry at the other side.

Well, Hussein bin Davis was in on the ground floor of the first two, historical fact.

People are constantly being told to get a good education, preferably in STEM. Those who still didn't do it either didn't listen or cannot complete that training. Either way, they'll just find there few jobs they qualify for. Some winners, some losers, the way of the world.