U.S. Homeownership rate falls to five decade low

cawacko said:
Obama?

The government creates policy to increase homeownership and to pressure/ force more lending to "higher risk" groups and then it's the bankers fault when they do? I'm sure the gov't appreciates you standing up for them.
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You simply cannot back this oversimplified generalization with data.

Now, if you substitute the term "government' with the term "Wall St", and you change "force" to "lure"...you're on your way to reality.


If you want to scurry down the CRA rabbit hole....don't waste the keystrokes. There are reams of data to disprove that silliness.
 
Mott the Hoople said:
Man you guys can rationalize anything. If they say it on right wing TV it's gotta be true. Oh by all means.... Wall Street and Investment bankers had nothing to do with the credit default swap crises. It's that damned Obama's fault and Freddie and Fannie.

I mean come on...you guys can believe what you want but don't insult my intelligence.
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Who said anything about Obama? This thread has nothing to do with him.

Credit default swaps were not the cause of the housing bubble.
 
Althea said:
You simply cannot back this oversimplified generalization with data.

Now, if you substitute the term "government' with the term "Wall St", and you change "force" to "lure"...you're on your way to reality.


If you want to scurry down the CRA rabbit hole....don't waste the keystrokes. There are reams of data to disprove that silliness.
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Feel free to look at policies from Clinton and Bush which encouraged/forced lenders to lend more to riskier buyers. That was the root cause. Thus banks and others came up with the products they did.
 
cawacko said:
Feel free to look at policies from Clinton and Bush which encouraged/forced lenders to lend more to riskier buyers. That was the root cause. Thus banks and others came up with the products they did.
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Wait...so because the theory of 'sub prime' lending came to the fore for 'riskier' borrowers, the fact that lenders pushed those terms on those with A credit is the govt's fault?


Sub prime terms were an avenue for those with no credit, or repaired credit to gain access to mortgages...provided they had means to pay, and the % of appraised value was in line with 'safe and accepted' lending practices.


No govt agency ever forced private lenders to loan 125% of appraised value.

No govt agency ever forced private lenders to push variable rate loans on people who would do much better with a FRM.


You're blaming the housing crash on a concept?
 
cawacko said:
Who said anything about Obama? This thread has nothing to do with him.

Credit default swaps were not the cause of the housing bubble.
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Odd that you would fault the concept of sub prime lending for the crash, but not the concept of dumping/trading bad debt.


Wanna clarify that?
 
cawacko said:
Feel free to look at policies from Clinton and Bush which encouraged/forced lenders to lend more to riskier buyers. That was the root cause. Thus banks and others came up with the products they did.
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Clinton, yes. Bush, no. In fact the Bush Administration tried, unsuccessfully, to stop policies enacted by Bwarny Fwank.
 
Right said:
Zero chance of that. Real Estate investments, at least for small fry like me, should ALWAYS be local. I can always judge the local market better than anywhere else, and I can pay visits to renters who are a day late on payments.
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Makes sense to me. It's not like it's your primary means of making a living and you probably earn more doing you're engineering thing than as a landlord.
 
Mott the Hoople said:
Makes sense to me. It's not like it's your primary means of making a living and you probably earn more doing you're engineering thing than as a landlord.
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Absolutely. RE is nothing more than a hobby that occasionally pays dividends. Better money than my car hobby though, which is always a loser!
 
Althea said:
Odd that you would fault the concept of sub prime lending for the crash, but not the concept of dumping/trading bad debt.


Wanna clarify that?
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Nothing to clarify. I stated the root cause of the bubble and the crash. The financial instruments used by the banks were created in response to this gov't mandate
 
Right said:
Absolutely. RE is nothing more than a hobby that occasionally pays dividends. Better money than my car hobby though, which is always a loser!
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I heard that. I have two friends who are consumed with cars. Both are into SCCA racing, single bachelors and spend most of their available cash on their racing addiction.
 
this-is-fine.0.jpg


Every conservative ever.
 
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