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Pent up demand's Comments Stream Stats
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A Government Rental Agency to Mop Up the Foreclosures
You're right that the traditional foreclosure model is not going to cut it anymore. However, I am certain that the market will innovate in short order. Versus this hair-brained scheme to create another bureaucracy that will never ever never die.
Subprime Write-Downs More Than 50% Done? Write-Ups Coming Next?
This thing has been spun from day one as a subprime problem. That is what they are feeding the masses. As freedomrenter says, who cares if they wrote the subprime down to zero. Only after the Alt-A, option-ARM, and HELOC losses been counted will I think about becoming a buyer. In the meantime I stay in cash and watch my insurance policy (commodities) pay off, and keep my powder dry.
Spitzer: Self-Destruction
Spitzer: Self-Destruction
So, zenalgorithm, Spitzer discovered too late in life that he'd really rather screw high class pros instead of being the devoted family man he marketed to the voting public? How tragic for him.
Bill Gross Calls for More Bailouts, Profits from Thornburg's Misfortune
Here's Why the Fed Has No Credibility
The Case for Foreclosure: Law of Conservation of Homes
Any "solution" that props up home prices comes directly at the expense of people like myself, who have young families and would like to own a home. I refused to make myself a debt slave to buy an overpriced crackerbox. From my point of view, the insanity is finally ending and I look forward to getting a chance at being a homeowner.
A Solution to the Mortgage Mess?
A Solution to the Mortgage Mess?
What the author proposes will happen if the govt. will just let nature take its course. Yes, there will be financial hardship for the imprudent, and chances are in a few years when real estate is repriced at a level that can be supported by incomes, people with savings who didn't bankrupt themselves buying a McMansion get to move up to nicer digs at an affordable price.
The truth is, there is little that can be done to help the imprudent who bought over the last few years. Many of the so-called solutions proposed or implemented over the last few months (making forgiven principal in a short sale non-taxable, freezing rates) do no good when the borrower has little to no skin in the game. In fact, many will have an opposite affect: they are practically daring these people to default and walk away.
Inflation? Sminflation!
Time to Short Financial Stocks - Starting with BofA
Inflation? Sminflation!
The statistics have been understating inflation for years: through hedonic adjustments; through the gaming of the housing component. They switched to owner's equivalent rent to keep the housing boom out of the inflation numbers. Now that housing is collapsing look for the statistics to revert back to the old methodology of housing price surveys. That will provide a nice smoke screen for the accelerating increase in the money supply.
Inflation's Power: The Dollar in 25 Years
Yes, people who are invested in hard assets aren't going to take such a hit. But keep in mind that capital gains basis is not indexed, so even if you protect your wealth by investing in hard assets, the tax man is going to wet his beak when you convert them to cash.
Inflation's Power: The Dollar in 25 Years
Latest Case-Schiller Report Shows the Sky is Falling
That recent number about an increase just shows the uselessness of the NAR's median number. The median jumps around based on the mix of homes sold in a given period. So if only the high-end is moving, then woo hoo, we're all rich.