AMERICAblog: Harvard study: housing slump to be longer than usual
Busboy
· 1 year ago
There's a whole lot of "below average" wage earners who are living in their homes and paying their mortgages because of the Clinton-Bush laxity in jawboning the thrifts and the federal reserve and the mortgage lenders. The bailout money that we are paying is the cost of buying out the deadbeats and the "flippers". I'm willing to pay my share. Thankful that so many marginalized citizens now own their own homes.
Õ¿Õ
· 1 year ago
Must you go through your whole life being so despisable? These are little children involved that I see.
Õ¿Õ
· 1 year ago
Ya know, this doesn't just affect us adults when it happens with bankruptcy. There are so many children that are yanked from their world. And they need stability. Kids are very adaptive but, still. It's upsetting.
mf_roe
· 1 year ago
Most Americans believe a house is the best investment they can make. The truth is that that may not always be true. Better to acquire a productive asset like a business or advanced skills or degrees. A house may make money but most of the "profit" house owners have seen over the last few decades has been based on speculation and manipulation. And the number who have actually cashed out with profits is far more limited than most people assume. Million dollar McMansions aren't good economics.
ruthlessgravity
· 1 year ago
The reading of asset in your example should be a tangible asset. Education and skills provide the best ROI overall, but they aren't considered assets in the sense something you can compare the return against a benchmark. Education also doesn't necessarily involve as much of a capital investment as it does a time investment (knowledge is relatively cheap this day and age) A business is a much riskier asset compared to the return. If you weight the outcomes with the investment, you are essentially playing the lottery. A house is still the best investment someone who isn't too financially savvy can make
Busboy
· 1 year ago
Michelle Obama agrees with you, mf_roe. Fortunately, her husband has a better, but flawed, understanding of economics 101...
Busboy
· 1 year ago
Hey, GG, my whole life has been devoted to making people rich. What's your point?
Õ¿Õ
· 1 year ago
The only point is the one on top of your head.
Busboy
· 1 year ago
Can we still go fishing?
Õ¿Õ
· 1 year ago
Yeah, if you vote for Obama and if you don't, I can tell.
Õ¿Õ
· 1 year ago
I was at the tackle place to get some red wigglers for my containers. And they had some cane poles that were like fucking $75 each!! I used to have alot of tackle, rods and reels, but it was all stolen. I've managed to slowly re-get some. Anyway, picked up a telescopic pole. Can you believe it? And I thought about you. Hoping you were doing alright. Pole still in the plastic wrap. I just like fishing with a pole. Just dunk it over, drinking a cold one. A friend of mine wants to go fishing after noticing all my stuff.
mf_roe
· 1 year ago
What is the mortgage interest deduction? A subsidy to house buyers? No, it is a scam which allowed mortgages grow from 5 years in the 1920's to 30 years now. The American dream of owning a house on a thirty year note enriches the money lenders at the expense of the tax payer. An investment uses compound interest to make money for you. For the majority of Americans a house means compound interest bleeds the wealth of most to the money lenders. Why is it called the dead hand?
Busboy
· 1 year ago
Looks like we're all going to die soon anyway.... might as well be friendly...
What if I don't vote, GG? Am I still on the island?
Õ¿Õ
· 1 year ago
yeah
Busboy
· 1 year ago
GG, just cut your own cane pole. It grows everywhere. What were you doing in that "low down, high dollar " place?
Õ¿Õ
· 1 year ago
i didn't buy a $75 cane pole. I got the telescopic one for 12 bucks. But jeez, the rods there were like hundreds of dollars.
Õ¿Õ
· 1 year ago
If you ever come here, fish on Caddo Lake. The lake was somehow formed because of the huge New Madrid quake back in the 18 hundreds, they think.
Õ¿Õ
· 1 year ago
Caddo is the name for the Native Americans here.
Õ¿Õ
· 1 year ago
Actually, it wasn't all "stolen," per se. It was one of those deals when it wasn't returned. And I wont fool with it afterwards or that person.
unrepentant_expat
· 1 year ago
he said. "The slump in housing markets has not yet run its full course."
Slumped over the wheel and headed into the abyss.
Busboy
· 1 year ago
That's my policy, too; GG. It's not worth the turmoil. Just let it go. Life is too short.
jr
· 1 year ago
Hannity and Colmes had a segment that "Obama's tax plan will cause a stock market crash" when the Nasdaq is half of what it was during Clinton and that's not including inflation
Indigo
· 1 year ago
"It will take longer this time . . . " WTF is that supposed to mean? Two months? Six months? Five years? What?
No answer.
Clearly the doomngloomers have nothing to say. Nation, we can leave them behind while we move on.
All Comments
that that may not always be true. Better to acquire a productive asset like a business
or advanced skills or degrees. A house may make money but most of the "profit" house
owners have seen over the last few decades has been based on speculation and
manipulation. And the number who have actually cashed out with profits is far more
limited than most people assume. Million dollar McMansions aren't good economics.
scam which allowed mortgages grow from 5 years in the 1920's to 30 years now.
The American dream of owning a house on a thirty year note enriches the money
lenders at the expense of the tax payer. An investment uses compound interest to
make money for you. For the majority of Americans a house means compound interest
bleeds the wealth of most to the money lenders. Why is it called the dead hand?
http://www.usatoday.com/tech/science/environmen...
http://upload.wikimedia.org/wikipedia/en/thumb/...
Things will get going again when that ski slope gets knocked down to grade.
http://apnews.myway.com/article/20080624/D91G51...
Slumped over the wheel and headed into the abyss.
No answer.
Clearly the doomngloomers have nothing to say. Nation, we can leave them behind while we move on.