What's up

[Dondilion]

Originally Posted by Tom Joad

I'm seeing it here in the real estate market.

The market is in the tank, but the majority of sales in this area are going to cash buyers. There are people out there with big wads of cash buying them up. My house is going to a cash buyer. For $15,000 less than I paid for it 10 years ago, and I think I did well. The Real Estate Agent I used told me that every house sale he has had so far this year has been cash.

There is cash coming from China, Russia and South America for Real Estate.

The Chinese have a new term "Naked Chinese".

http://www.miamiherald.com/2014/06/0...-who-sent.html

[Dondilion]

Originally Posted by BlueStreak

We now have more people employed tha before the recession but mostly in poor paying jobs. We added around 2 million more people to the working age in that time also. So persentage wise we are down.

Wall St. looks to either break 17,000 or go into the toilet.Everybody chears these records, the fact of inflation needs to weigh in and population growth. Plus the QE suggar rush on the market, Just because there is more dollars in serculation doesn't mean there is any more value/ purchasing power,

The Fed is holding interest rates artificiall low - hurting senior citizens the most. No hurting everyone that hold fiat currency. And earns it for that matter when your wage increas is based on inflation. When interest rates or lower than inflation the banks are robbing you.

Blah, Blah, Blah...................

Nope, guess again.

Dave

Can you please enlighten us.

[Tom Joad]

Originally Posted by bhunter

You act as though there's someone behind the scene pulling levers. The only problem is there isn't. In fact, Obama is under the sheets with big finance and I'll bet he shant becoming out anytime soon. I can hardly wait to see how much he gets on the lecture circuit.

Negatory bhunter.

You don't get to get away with that bullshit.

The entire Sub Prime Ninja Loan Real Estate Bubble and it's inevitable bust all happened on your boy Bush's watch.

So as much as you right wing shills try to rewrite history to the contrary there are lots of old Dudes like me who can remember what really happened.

[bhunter]

Originally Posted by Tom Joad

Negatory bhunter.

You don't get to get away with that bullshit.

The entire Sub Prime Ninja Loan Real Estate Bubble and it's inevitable bust all happened on your boy Bush's watch.

So as much as you right wing shills try to rewrite history to the contrary there are lots of old Dudes like me who can remember what really happened.

There is plenty of blame that predates Bush. How exactly was GW responsible for the loan debacle? Do you think the democrats have no responsibility? Anyone with a pulse and a modicum of knowledge of finance knew that it wasn't sustainable back in the 1990s. The real sad part is that those so called finance experts still have a soapbox and people evidently still listen to their irrelevant drivel.

PS: have a safe and sane move. Hey, I like that phrase: 'Safe and Sane." IIRC it was on boxes of fireworks I purchased as a kid.

[merrylander]

Let's face it folks the design of the mortgage system here was just begging for someone to do what was done. it invited people to game the system.

[MikeG22]

Originally Posted by merrylander

Let's face it folks the design of the mortgage system here was just begging for someone to do what was done. it invited people to game the system.

Exactly people saw home prices rising year after year and thought they could buy and sell after a few years for big profits. When that bubble burst those same people were left with a steaming pile they couldn't afford.

[MikeG22]

Originally Posted by BlueStreak

We now have more people employed tha before the recession but mostly in poor paying jobs. We added around 2 million more people to the working age in that time also. So persentage wise we are down.

Dave

Problem is the jobs look good percent wise but the income level of those jobs added have dropped from what they were before the unemployment surge. Jobs not paying a living wage are almost as bad as no job.

[merrylander]

Originally Posted by MikeG22

Exactly people saw home prices rising year after year and thought they could buy and sell after a few years for big profits. When that bubble burst those same people were left with a steaming pile they couldn't afford.

It was not only that Mike, why did we need mortgage finders, points, title companies, there were so many middlemen that got a piece of the action but had no responsibilities. The the practice of bundling mortgages as securities, who was the barking idiot who dreamed up that scam. Then they came up with derivatives - whoo boy.

[MikeG22]

Rob, I dealt with all of it when I bought my first home in 2007. They told me I was approved to $425k for a mortgage. Based on what I make that is insanity. The whole home buying business makes me sick. They are glorified used car dealers.

[MrPots]

Originally Posted by Tom Joad

I'm seeing it here in the real estate market.

The market is in the tank, but the majority of sales in this area are going to cash buyers. There are people out there with big wads of cash buying them up. My house is going to a cash buyer. For $15,000 less than I paid for it 10 years ago, and I think I did well. The Real Estate Agent I used told me that every house sale he has had so far this year has been cash.

I see the future, where the united states is one big Potters field...trashy shacks rented out to desperate poor people at high rates so they can never ever get ahead, never have any hope.....

http://upload.wikimedia.org/wikipedi...Mr._Potter.jpg