TRIPLE RED ALERT!!! HOUSING MARKET IN TOTAL MELTDOWN!! PIN THIS! | |
Anonymous Coward User ID: 1229184 United States 01/27/2011 11:28 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 1245477 United States 01/27/2011 11:28 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 1136411 United States 01/27/2011 11:29 AM Report Abusive Post Report Copyright Violation | |
AwakeAndAware
User ID: 954702 United States 01/27/2011 11:30 AM Report Abusive Post Report Copyright Violation | over 1 million homes were foreclosed in the US in 2010. Only about half have been put on the market for sale so far and the banks are sitting on the rest because prices would drop another 20% or so if they flooded the market with the rest of their inventory. Combine that with the fact that over 5 million US homeowners are currently 2 or more payments behind on their mortgages. More people are falling behind at a faster rate than the banks can foreclose on now and as the price of gas and food rise, the problem will only get worse. Imagine the problem 5 times worse. |
Richard Strong
User ID: 837852 United States 01/27/2011 11:35 AM Report Abusive Post Report Copyright Violation | This year a bunch of different kind of loans are supposed to default, so its going to be an even bigger shit storm. Subprime was just the opening act. Quoting: GloomyStudent loan defaults are gonna be the ultimate piece that brings the Jenga game to the ground. Mark my words. What are they going to do when people stop paying on them? I just paid mine off after 10 years so there better be no debt forgiveness! I was always told student loans could never be discharged. FEDERAL student loans are in the amount of 40 BILLION dollars across the nation. Students can not repay them and the interest keeps rising. It is all by design.... I am Richardus Strongus. Father to a murdered 'Refreshtard' thread, Husband to a deleted Top 10 thread. I will have my vengeance on the Lightworkers ..in this life or the next. |
Anonymous Coward User ID: 1239338 United States 01/27/2011 11:35 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 1230366 United States 01/27/2011 11:36 AM Report Abusive Post Report Copyright Violation | |
BRIEF AND TO THE POINT
User ID: 381742 United States 01/27/2011 11:37 AM Report Abusive Post Report Copyright Violation | People are stupid...always borrowing and promising to pay later... Quoting: BRIEF AND TO THE POINTYosemetie Sam is Bang On, he calls it like it is. It just never made sense to me to pay for something more than once...Look at a full amortization of a typical mortgage: 165K turns into 400K! That's fuck'n dumb!! Poor people do poor people things, and rich people do rich people things. You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is the beginning of the end of any nation. You cannot multiply wealth by dividing it! when you rob Paul to give to Peter ... ... ... you will always get Peters support! :Brieffromnativea: |
Anonymous Coward User ID: 586800 United States 01/27/2011 11:38 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 1245220 Belgium 01/27/2011 11:42 AM Report Abusive Post Report Copyright Violation | People are stupid...always borrowing and promising to pay later... ====================================== The U.S. economy has been based on those 'Stupid' people for the past decades. And those 'Stupid' people were encouraged with very easy credit. The reason easy credit was pushed was to get 'Stupid' people to consume....goods, services, housing, etc., because productive sectors of the U.S. economy have been dismantled and off-shored [GLOBALIZATION] and a consumer-based, easy credit, high debt, real estate bubble was perfected to mask the devastating effects globalization, especially the extraordinary one-sided trade deals with China [30 years of NON-STOP deficits in China's favor] has had on the U.S. and the American worker. If those 'Stupid' people hadn't all gone on spending binges and brought all that real estate the shit would have hit the fan A LONG time ago. |
BRIEF AND TO THE POINT
User ID: 381742 United States 01/27/2011 11:44 AM Report Abusive Post Report Copyright Violation | People are stupid...always borrowing and promising to pay later... Quoting: BRIEF AND TO THE POINT====================================== The U.S. economy has been based on those 'Stupid' people for the past decades. And those 'Stupid' people were encouraged with very easy credit. The reason easy credit was pushed was to get 'Stupid' people to consume....goods, services, housing, etc., because productive sectors of the U.S. economy have been dismantled and off-shored [GLOBALIZATION] and a consumer-based, easy credit, high debt, real estate bubble was perfected to mask the devastating effects globalization, especially the extraordinary one-sided trade deals with China [30 years of NON-STOP deficits in China's favor] has had on the U.S. and the American worker. If those 'Stupid' people hadn't all gone on spending binges and brought all that real estate the shit would have hit the fan A LONG time ago. I wish it did hit the fan a long time ago...the longer we wait the more pain it causes. Poor people do poor people things, and rich people do rich people things. You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is the beginning of the end of any nation. You cannot multiply wealth by dividing it! when you rob Paul to give to Peter ... ... ... you will always get Peters support! :Brieffromnativea: |
Evil Twin
01/27/2011 11:44 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 1239815 United States 01/27/2011 11:44 AM Report Abusive Post Report Copyright Violation | |
Gloomy
User ID: 1222777 United States 01/27/2011 11:45 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 1213702 United States 01/27/2011 11:45 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 586800 United States 01/27/2011 11:45 AM Report Abusive Post Report Copyright Violation | People criticize the Bible up one side and down the other, but it turns out time and time again that the Bible's advice on how to build a healthy culture were right on the button. We built this culture on usury, and now it's collapsing. Big surprise. |
Anonymous Coward User ID: 907170 United States 01/27/2011 11:46 AM Report Abusive Post Report Copyright Violation | This year a bunch of different kind of loans are supposed to default, so its going to be an even bigger shit storm. Subprime was just the opening act. Quoting: GloomyLet's not forget commercial property.... Yes this year is the commercial real-estate collapse. |
Jessica6
User ID: 1245363 Canada 01/27/2011 11:46 AM Report Abusive Post Report Copyright Violation | And yet, somehow, CNBC managed to get a bullish headline out of it. [link to www.cnbc.com] This of course was the magic ingredient, but program traders' bots only read the headlines: Contracts for pending sales of previously owned homes rose faster than expected in December after the prior month's sales were revised lower, data from a real estate trade group said Thursday. Quoting: CNBCThe urge to save humanity is always a false front for the urge to rule it. - HL Mencken |
Anonymous Coward User ID: 1239815 United States 01/27/2011 11:47 AM Report Abusive Post Report Copyright Violation | This year a bunch of different kind of loans are supposed to default, so its going to be an even bigger shit storm. Subprime was just the opening act. Quoting: GloomyStudent loan defaults are gonna be the ultimate piece that brings the Jenga game to the ground. Mark my words. What are they going to do when people stop paying on them? I just paid mine off after 10 years so there better be no debt forgiveness! I was always told student loans could never be discharged. I have mine almost paid off, but if others don't pay theirs off because of the times were going through, I'm not going to hold it to them. If it helps crash the system its a plus anyways |
BRIEF AND TO THE POINT
User ID: 381742 United States 01/27/2011 11:47 AM Report Abusive Post Report Copyright Violation | So all those new homeless I saw are not actually just drug users as I have been told. Quoting: Anonymous Coward 1239815Many don't have extended family or friends, and some have outworn their welcome and have no place to go but the street Greed and selfishness was their drugs...they just had to have a better home than they could afford and that new car they couldn't afford, and all those nice dinners at the restaurants they couldn't afford...etc Poor people do poor people things, and rich people do rich people things. You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is the beginning of the end of any nation. You cannot multiply wealth by dividing it! when you rob Paul to give to Peter ... ... ... you will always get Peters support! :Brieffromnativea: |
dookie stain User ID: 907535 United States 01/27/2011 11:49 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 1245220 Belgium 01/27/2011 11:51 AM Report Abusive Post Report Copyright Violation | People are stupid...always borrowing and promising to pay later... Quoting: BRIEF AND TO THE POINT====================================== The U.S. economy has been based on those 'Stupid' people for the past decades. And those 'Stupid' people were encouraged with very easy credit. The reason easy credit was pushed was to get 'Stupid' people to consume....goods, services, housing, etc., because productive sectors of the U.S. economy have been dismantled and off-shored [GLOBALIZATION] and a consumer-based, easy credit, high debt, real estate bubble was perfected to mask the devastating effects globalization, especially the extraordinary one-sided trade deals with China [30 years of NON-STOP deficits in China's favor] has had on the U.S. and the American worker. If those 'Stupid' people hadn't all gone on spending binges and brought all that real estate the shit would have hit the fan A LONG time ago. I wish it did hit the fan a long time ago...the longer we wait the more pain it causes. I would add TRILLIONS have been stolen / disappeared through FRAUD....MASSIVE FRAUD. Make no mistake, Wall St and the market is an insider House game propped and insured by the government and taxpayer. We have a mind boggling corrupt soft fascist Corpocracy in charge. |
Anonymous Coward User ID: 1229184 United States 01/27/2011 11:51 AM Report Abusive Post Report Copyright Violation | Once again,rent prices rise 10 percent a year.That is money flushed down the toilet.Borrowing is a way to stable the continue in rent increases.I see it as a way to lower your yearly costs.It will be the single issue as to weather people decide to bow down to there landlords,or own and even become a land lord.Money saved is money earned.And when you factor in how many time renters pay to move the 10 percent rise is even more. |
Anonymous Coward User ID: 632946 United States 01/27/2011 11:51 AM Report Abusive Post Report Copyright Violation | |
THE SERCHER
User ID: 1192080 United States 01/27/2011 11:53 AM Report Abusive Post Report Copyright Violation | This year a bunch of different kind of loans are supposed to default, so its going to be an even bigger shit storm. Subprime was just the opening act. Quoting: GloomyStudent loan defaults are gonna be the ultimate piece that brings the Jenga game to the ground. Mark my words. What are they going to do when people stop paying on them? I just paid mine off after 10 years so there better be no debt forgiveness! I was always told student loans could never be discharged. FEDERAL student loans are in the amount of 40 BILLION dollars across the nation. Students can not repay them and the interest keeps rising. It is all by design.... pretty scary to think about all those students who have no fucking clue what they are getting into.and all those crooks out there that see future college students as nothing more than dollar signs. |
Jessica6
User ID: 1245363 Canada 01/27/2011 11:53 AM Report Abusive Post Report Copyright Violation | People are stupid...always borrowing and promising to pay later... Quoting: BRIEF AND TO THE POINT====================================== The U.S. economy has been based on those 'Stupid' people for the past decades. And those 'Stupid' people were encouraged with very easy credit. The reason easy credit was pushed was to get 'Stupid' people to consume....goods, services, housing, etc., because productive sectors of the U.S. economy have been dismantled and off-shored [GLOBALIZATION] and a consumer-based, easy credit, high debt, real estate bubble was perfected to mask the devastating effects globalization, especially the extraordinary one-sided trade deals with China [30 years of NON-STOP deficits in China's favor] has had on the U.S. and the American worker. If those 'Stupid' people hadn't all gone on spending binges and brought all that real estate the shit would have hit the fan A LONG time ago. I wish it did hit the fan a long time ago...the longer we wait the more pain it causes. I was sure in the summer of 2007 that a meltdown was imminent. The worst of it is, if they'd let it all fall then and put in some reforms, we'd be in the midst of a real recovery now. The problem with bubbles does come straight back to a critical mass of stupid people though. The housing bubble in Toronto and Vancouver is beyond even what California was at it's worst. Because there hasn't been a sharp drop yet like the one that is TOTALLY coming (thanks to all sorts of hidden Government supports they've delayed the POP for about three years now) people think I'm an idiot for my bearishness. I felt like an idiot during the tech bubble too. I kept thinking how the fuck can someone invest in a 'dot com' whose business plan is to home-deliver $1 bags of chips or candy bars? What am I missing? What I was missing was the once-in-a-lifetime opportunity to con people out of millions and get away with it scott-free. Last Edited by Jessica6 on 01/27/2011 11:54 AM The urge to save humanity is always a false front for the urge to rule it. - HL Mencken |
Anonymous Coward User ID: 1245220 Belgium 01/27/2011 11:54 AM Report Abusive Post Report Copyright Violation | So all those new homeless I saw are not actually just drug users as I have been told. Quoting: Anonymous Coward 1239815Many don't have extended family or friends, and some have outworn their welcome and have no place to go but the street Greed and selfishness was their drugs...they just had to have a better home than they could afford and that new car they couldn't afford, and all those nice dinners at the restaurants they couldn't afford...etc ============================== What about the greed and selfishness of the multinational Too Big to Fail banks and corporations who got and continue to get bailed out, insider dealing, etc.,? |
Anonymous Coward User ID: 1239815 United States 01/27/2011 11:55 AM Report Abusive Post Report Copyright Violation | So all those new homeless I saw are not actually just drug users as I have been told. Quoting: Anonymous Coward 1239815Many don't have extended family or friends, and some have outworn their welcome and have no place to go but the street Greed and selfishness was their drugs...they just had to have a better home than they could afford and that new car they couldn't afford, and all those nice dinners at the restaurants they couldn't afford...etc I'll be glad when the dollar collapses, because those on Wall Street will loose their ass, and their greed and selfishness was a drug as well, but more importantly, was the fuel for the fire of those loosing their homes. Selling fraudulent securities to unsuspecting suckers stamped with an AAA rating, treating them like hot potatoes, because they new. Therein lies the difference. People with jobs expect to always have a job Wall Streeters with no consciousness, knew they were pushing fraudulent docs, and need to jump out a 40 story building real quick. |
Anonymous Coward User ID: 1121734 Canada 01/27/2011 11:56 AM Report Abusive Post Report Copyright Violation | This year a bunch of different kind of loans are supposed to default, so its going to be an even bigger shit storm. Subprime was just the opening act. Quoting: GloomyStudent loan defaults are gonna be the ultimate piece that brings the Jenga game to the ground. Mark my words. What are they going to do when people stop paying on them? I just paid mine off after 10 years so there better be no debt forgiveness! I was always told student loans could never be discharged. I have mine almost paid off, but if others don't pay theirs off because of the times were going through, I'm not going to hold it to them. If it helps crash the system its a plus anyways I think the private student loan industry is going to collapse in the US - basically lenders over the last 10 years or so were just throwing money at students. People run out of deferment or forbearance option with the private loans and are defaulting left and right. They are usually high interest loans and popular with the technical college. I just watched some news program on MSNBC or one of those channels a few weeks ago profiling these people that are out of work and have like 200k in private and fed student loans. Their excuses were that education was more important and if they were getting an advanced degree, they assumed that any "new" job they would get would be paying shitloads of money and they would be able to pay their loans...now they are jobless with all these loans that are not dischargable in bankruptcy and they have no other option to default. Food, roof over your head or pay your student loans? Hmmmm. |
Anonymous Coward User ID: 1237455 United States 01/27/2011 11:57 AM Report Abusive Post Report Copyright Violation | |