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Loss of housing value exceeds cost of Iraq war.

 
Evil Twin
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12/09/2010 07:47 PM
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Loss of housing value exceeds cost of Iraq war.
Posted by Jim Buchta

Last update: December 9, 2010 - 12:36 PM

Zillow is getting a jump on the end-of-year data purge with a report released today that says that US homes are expected to lose more than $1.7 trillion during 2010,...
[link to www.startribune.com]

Last Edited by Account Deleted by User on 09/22/2011 12:45 AM
Anonymous Coward
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12/09/2010 07:49 PM
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Re: Loss of housing value exceeds cost of Iraq war.
People lose
Banks win

Get used to it America!
Anonymous Coward
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12/09/2010 07:51 PM
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Re: Loss of housing value exceeds cost of Iraq war.
Just bought a 2008 square foot home from HUD located

in the foothills of the Blue Ridge mountains located on 2.75 acres for $45K.

Hopefully the value will hold!
Evil Twin  (OP)

12/09/2010 07:53 PM
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Re: Loss of housing value exceeds cost of Iraq war.
Just bought a 2008 square foot home from HUD located

in the foothills of the Blue Ridge mountains located on 2.75 acres for $45K.

Hopefully the value will hold!
 Quoting: Once4All

Nice score.
Anonymous Coward
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12/09/2010 08:05 PM
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Re: Loss of housing value exceeds cost of Iraq war.
Just bought a 2008 square foot home from HUD located

in the foothills of the Blue Ridge mountains located on 2.75 acres for $45K.

Hopefully the value will hold!

Nice score.
 Quoting: Evil Twin



I was shocked i had the winning bid.

Hope to low ball the government again in the spring.

The FED and the government are still the bubbles to play!
Anonymous Coward
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United States
12/09/2010 08:07 PM
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Re: Loss of housing value exceeds cost of Iraq war.
I guess the Never Ending War is turning out to be a real bargain!

In comparison to the trashing of the economy, anyway.
Monkeyfister

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United States
12/09/2010 08:10 PM
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Re: Loss of housing value exceeds cost of Iraq war.
And Congress isn't doing a damned thing to end either fiscal disaster.

--mf
"I'm the bride at every funeral, I'm the corpse at every wedding..." --Brother Theodore
... and don't blame me-- I voted for Bob Barr in 2008.
Only COWARDS hide behind anonymous Karma.
Beingsouthern

12/09/2010 08:15 PM
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Re: Loss of housing value exceeds cost of Iraq war.
Just bought a 2008 square foot home from HUD located

in the foothills of the Blue Ridge mountains located on 2.75 acres for $45K.

Hopefully the value will hold!
 Quoting: Once4All

Nice!
Exile

User ID: 1092735
Australia
12/09/2010 08:20 PM
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Re: Loss of housing value exceeds cost of Iraq war.
And Congress isn't doing a damned thing to end either fiscal disaster.

--mf
 Quoting: Monkeyfister


The diligent focus on how to make money; fools obsess about how to spend it.
All great truths begin as blasphemies.
Nobody's sister set it up the bomb so talk to her.
Siriusly ... most of the time I'm only jokering around.
Sanity is a crazy man's crazy in a crazy world.
:Exile:
Anonymous Coward
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United States
12/09/2010 08:24 PM
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Re: Loss of housing value exceeds cost of Iraq war.
Just bought a 2008 square foot home from HUD located

in the foothills of the Blue Ridge mountains located on 2.75 acres for $45K.

Hopefully the value will hold!

Nice!
 Quoting: Beingsouthern



Many people think that the government just gives away crappy little houses in the city for little money.

Although that is true, many decent homes are in the 'country side' too!

google hud homes and research. stay with .gov websites!
.::HoLYWaR::.

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United States
12/09/2010 08:25 PM
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Re: Loss of housing value exceeds cost of Iraq war.
Real Property in Iraq is boooming!
Push the button light the match,
Feel the fault lines detach;
Crosshairs in the evening light,
I sit and watch the city burn tonight.
Anonymous Coward
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12/09/2010 08:26 PM
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Re: Loss of housing value exceeds cost of Iraq war.
There is a big difference between phony "value" and real cash out of pocket.
Anonymous Coward
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United States
12/09/2010 08:27 PM
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Re: Loss of housing value exceeds cost of Iraq war.
Fuck.

What a double fucking whammy.

Trillions for an illegal war and trillions scammed.
Anonymous Coward
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Egypt
12/09/2010 08:30 PM
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Re: Loss of housing value exceeds cost of Iraq war.
There is a big difference between phony "value" and real cash out of pocket.
 Quoting: Anonymous Coward 1177801

yup....but most people can't grasp this simple fucking concept. Iraq War money has been spent, used, gone for good. Housing value is a bunch of bullshit, that only simple-minded dipshits think is "real". lol!!
Evil Twin  (OP)

12/09/2010 08:33 PM
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Re: Loss of housing value exceeds cost of Iraq war.
There is a big difference between phony "value" and real cash out of pocket.

yup....but most people can't grasp this simple fucking concept. Iraq War money has been spent, used, gone for good. Housing value is a bunch of bullshit, that only simple-minded dipshits think is "real". lol!!
 Quoting: Anonymous Coward 1177867

Tell that to the millions of people sitting on $250k mortgages for homes that they can't sell for $150k.
Anonymous Coward
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Egypt
12/09/2010 08:40 PM
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Re: Loss of housing value exceeds cost of Iraq war.
There is a big difference between phony "value" and real cash out of pocket.

yup....but most people can't grasp this simple fucking concept. Iraq War money has been spent, used, gone for good. Housing value is a bunch of bullshit, that only simple-minded dipshits think is "real". lol!!

Tell that to the millions of people sitting on $250k mortgages for homes that they can't sell for $150k.
 Quoting: Evil Twin

oh right, because those 25% yearly gains on real estate were meant to go on forever and forever!! afterall, real estate can't possibly be a 'bubble', it's gains are always permanent because they aren't making anymore land!! lol! Obama caused the real estate bubble!!! damn him!!!
Anonymous Coward
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Germany
12/09/2010 08:41 PM
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Re: Loss of housing value exceeds cost of Iraq war.
The money for the wars was paid for with a credit card. The interest will be much more than the housing loss.
Anonymous Coward
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12/09/2010 08:44 PM
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Re: Loss of housing value exceeds cost of Iraq war.
There is a big difference between phony "value" and real cash out of pocket.

yup....but most people can't grasp this simple fucking concept. Iraq War money has been spent, used, gone for good. Housing value is a bunch of bullshit, that only simple-minded dipshits think is "real". lol!!

Tell that to the millions of people sitting on $250k mortgages for homes that they can't sell for $150k.
 Quoting: Evil Twin



That's called a loss. It becomes real when they actually do sell for less than they owe. Risk is a part of any venture.

I'm not unsympathetic to their situation, just parsing out that the total drop in RE value vs real expenditures isn't really an apples to apples comparison.
Evil Twin  (OP)

12/09/2010 08:45 PM
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Re: Loss of housing value exceeds cost of Iraq war.
There is a big difference between phony "value" and real cash out of pocket.

yup....but most people can't grasp this simple fucking concept. Iraq War money has been spent, used, gone for good. Housing value is a bunch of bullshit, that only simple-minded dipshits think is "real". lol!!

Tell that to the millions of people sitting on $250k mortgages for homes that they can't sell for $150k.

oh right, because those 25% yearly gains on real estate were meant to go on forever and forever!! afterall, real estate can't possibly be a 'bubble', it's gains are always permanent because they aren't making anymore land!! lol! Obama caused the real estate bubble!!! damn him!!!
 Quoting: Anonymous Coward 1177867

Yeah, I get it that you don't give a fuck about millions of people losing a large portion of their retirement plans, or that trillions in purchasing power has just evaporated from the US citizenry.
Anonymous Coward
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Egypt
12/09/2010 08:50 PM
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Re: Loss of housing value exceeds cost of Iraq war.
There is a big difference between phony "value" and real cash out of pocket.

yup....but most people can't grasp this simple fucking concept. Iraq War money has been spent, used, gone for good. Housing value is a bunch of bullshit, that only simple-minded dipshits think is "real". lol!!

Tell that to the millions of people sitting on $250k mortgages for homes that they can't sell for $150k.

oh right, because those 25% yearly gains on real estate were meant to go on forever and forever!! afterall, real estate can't possibly be a 'bubble', it's gains are always permanent because they aren't making anymore land!! lol! Obama caused the real estate bubble!!! damn him!!!

Yeah, I get it that you don't give a fuck about millions of people losing a large portion of their retirement plans, or that trillions in purchasing power has just evaporated from the US citizenry.
 Quoting: Evil Twin

of course i care, do you? but let's not pretend this a fantasy world of unlimited gains with no loses..only fucking idiots think that.

btw, supporting needless wars and nation building isn't exactly helping those retirees either...right? oh nevermind..the iraq war and consequent nation building is necessary for america's "freedom"....lol!
Anonymous Coward
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12/09/2010 08:52 PM
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Re: Loss of housing value exceeds cost of Iraq war.
Posted by Jim Buchta

Last update: December 9, 2010 - 12:36 PM

Zillow is getting a jump on the end-of-year data purge with a report released today that says that US homes are expected to lose more than $1.7 trillion during 2010, a 63 percent increase compared with 2009 for a total loss since June 2006 of $9 trillion. That's a lot of cash, way more than the cost of the Iraq war, which cost $750.8 billion since 2001.

[link to www.startribune.com]
 Quoting: Evil Twin


The value of the home will eventually return. The money spent in Iraq will not.
Evil Twin  (OP)

12/09/2010 09:01 PM
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Re: Loss of housing value exceeds cost of Iraq war.
of course i care, do you? but let's not pretend this a fantasy world of unlimited gains with no loses..only fucking idiots think that.

btw, supporting needless wars and nation building isn't exactly helping those retirees either...right? oh nevermind..the iraq war and consequent nation building is necessary for america's "freedom"....lol!
 Quoting: Anonymous Coward 1177867

Only a fucking idiot would construe my posting this article to mean I believe in a world of unlimited gains and no losses, or that I don't think the Iraq war was a mistake.

I do note that the war continues unabated, despite promises to the contrary.
Evil Twin  (OP)

12/09/2010 09:03 PM
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Re: Loss of housing value exceeds cost of Iraq war.
The value of the home will eventually return. The money spent in Iraq will not.
 Quoting: Anonymous Coward 1185445

The value of the home may return, eventually, quite possibly long after the current mortgage holder is dead.

Are you saying Iraq isn't a "war for oil", and that it was a bad investment?
Anonymous Coward
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Canada
12/09/2010 09:05 PM
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Re: Loss of housing value exceeds cost of Iraq war.
There is a big difference between phony "value" and real cash out of pocket.

yup....but most people can't grasp this simple fucking concept. Iraq War money has been spent, used, gone for good. Housing value is a bunch of bullshit, that only simple-minded dipshits think is "real". lol!!

Tell that to the millions of people sitting on $250k mortgages for homes that they can't sell for $150k.

That's called a loss. It becomes real when they actually do sell for less than they owe. Risk is a part of any venture.

I'm not unsympathetic to their situation, just parsing out that the total drop in RE value vs real expenditures isn't really an apples to apples comparison.
 Quoting: Anonymous Coward 1177801


Trouble is some of these are fucktards who bought at $150K, then got a refi $250 by 'withdrawing equity' that had 'built' because of the bubble.

So while while the inflated values weren't real, the banks leant and the dipshits borrowed as though they were.
Evil Twin  (OP)

12/09/2010 09:10 PM
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Re: Loss of housing value exceeds cost of Iraq war.
That's called a loss. It becomes real when they actually do sell for less than they owe. Risk is a part of any venture.

I'm not unsympathetic to their situation, just parsing out that the total drop in RE value vs real expenditures isn't really an apples to apples comparison.
 Quoting: Anonymous Coward 1177801

It's very real to me right now, and I'm not selling and have no mortgage. My income is down since the bubble popped, so my spending is down, which affects everyone in this country.





GLP