What is the purpose of real estate price manipulation and how 2008 was a deliberate | |
Revisionist
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Revisionist
(OP) User ID: 33973948 United States 04/08/2022 11:17 AM Report Abusive Post Report Copyright Violation | I believe banks are swimming in funds to buy homes. I’ve noticed they are not buying vacant land as much. With the dollar about to head to zero soon house ownership will not be possible for the general masses ever again. Living the gospel of Christ is an action not a thought. |
Anonymous Coward User ID: 79608967 United States 04/08/2022 11:45 AM Report Abusive Post Report Copyright Violation | House prices will never come back down. People need to down size to get out of their mortgage and put away some cash. Quoting: Revisionist ^This. 2008 was a housing crisis created by the policies of the Democrats. Those policies were to give no-down payment loans to minorities so they could move into fancy houses. The mortgage industry cooperated by selling variable rate mortgages to these people. People were moving into 300K homes putting down 2000 dollars and paying 2000 dollars in costs. Then they had 1000/month mortgages. Come back in three years and these people have maybe 10,000 in equity, their mortgage is now bumped up to 1600/month and the value of their house is now 200K. They made a logical decision to lose 10K and walk away to an expensive house they couldn't really afford. 2020. Joe Biden and The Democrats printed 3 Trillion dollars and spent it during a lockdown (meaning there was no goods or services being produced by the economy). This caused inflation. Housing prices are not relative to the amount of money in the system. The end. Not coming down. This is the 1970's inflation, not 2008 |
Revisionist
(OP) User ID: 80102126 United States 04/08/2022 12:23 PM Report Abusive Post Report Copyright Violation | Before 2008 a bank was forced to realize a loss if a mortgage went bad, but not now. New legislation from the 2008 collapse allows banks to hold these properties indefinitely with no down side. Living the gospel of Christ is an action not a thought. |