| Name: |
water_watcher
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| Subject: |
Obama delivers ... again.
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Date:
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6/23/2010 7:43:55 PM
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Housing starts and existing home sales were the worst on record .... EVER! Guess all that wasted stimulus (our tax dollars) is delivering the results.
Also, I just saw the new CNBC poll that said 82% of ALL people (GF excluded) believe the economy is worse that when Obama took office and is headed in the wrong direction.
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| Name: |
GoneFishin
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| Subject: |
Obama delivers ... again.
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Date:
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6/23/2010 10:20:40 PM
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Those in the market to buy a house moved up their plans to take advantage of the $8,000 tax credit. Now that it is over it does not take a rocket scientist to conclude that the housing market will be dead for a few months. With all you posts about the economy, even I feel you know that.
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| Name: |
comrade
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| Subject: |
Obama delivers ... again.
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Date:
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6/23/2010 10:48:29 PM
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So you really think everything is going to be OK in a few months?
Is that like surviving the first year after cancer?
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| Name: |
MAJ USA RET
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| Subject: |
Obama delivers ... again.
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Date:
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6/23/2010 11:16:21 PM
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Ouch! Comrade, can I have that phrase? I have some folks on which I'd like to use it.
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| Name: |
water_watcher
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| Subject: |
GF ... you keep sticking your foot in your mouth
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Date:
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6/24/2010 7:06:39 AM
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You do the math ... when Obama was giving away hard working americans tax dollars to people that can not afford a house (previous post about dems voting down 5% rule) that drove interest rates back up to about 5 1/2% or more depending on credit worthiness .... now that the give away socialist program has ended .... rates are back down to 4 1/2% or less .... you do the math and decide which is better, an $8,000 one time credit and have to pay 1% or more for the life of the mortgage or the lower interest rate. I'll save you the time .... the lower interest rate yeilds much great savings than the $8,000.
Blows your irrational logic.
Funny that they had cash for clunkers, yet car sales are still doing fine.
The problem with housing is because of fear of the the future, do to your leader. It is a long term investment and people do not want to commit for fear of a total collapse in the economy.
We can thank people like YOU for voting in this hopeless change.
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| Name: |
water_watcher
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| Subject: |
and BTW ...
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Date:
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6/24/2010 7:16:28 AM
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Even during the depression of the 30's housing starts and existing home sales were higher than they were this past month.
Why not just admit what a disaster that Obama is ... you are starting to see people in his administration jumping ship and the media realizing he does not have a clue.
His approval rating has fallen faster than any president in history and it is the highest percent ever of people feeling we are on the wrong course with the economy. It is the economy stupid. I just wish the dems measured their results to the same criteria that they were critical of Bush. If they did ... they would be resigning for such failure.
I believe Obama is trying to overwhelm the economy to create a collapse and socialist system.
My God, it is sad when China is more capitalist than we are.
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| Name: |
Lifer
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| Subject: |
Obama delivers waste, fraud, and abuse..... AGAIN!
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Date:
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6/24/2010 9:30:58 AM
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But the more asinine part of the story is this ... more than 1,200 prison inmates, including 241 serving life sentences, defrauded the government of $9.1 million in tax credits reserved for first-time homebuyers. WTF? People manage to bilk the taxpayers out of millions of dollars thanks to government incompetence? Not shocked. And Florida prisoners are the winners in this little scam. Of those 1,200 prison inmates, 61% of them were incarcerated in Florida.
But that $9.1 million wasn't the end of the fraud. That was just what was doled out to prisoners. The total amount of improperly paid claims totaled more than $28 million. Oh and by the way, of those improper filers, almost 100 of them were IRS agents!
URL: Boortz web page with all the links active
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| Name: |
Jim Dandy
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| Subject: |
Obama delivers waste, fraud, and abuse..... AGAIN!
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Date:
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6/24/2010 9:43:45 AM
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Don't worry. I'm sure Hound will have a spirited defense for those fine civil servants.
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| Name: |
GoneFishin
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| Subject: |
Obama delivers ... again.
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Date:
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6/24/2010 10:48:46 AM
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After the Cash for Clunker program ended, new-car sales fell in September as the predicted post-"cash for clunkers" slump dragged the U.S. market down to its lowest sales rate in seven months. Without government cash on the table, worried consumers shunned dealership lots, buying just 745,997 cars and light trucks, a 23% slide from a year earlier, when 964,873 vehicles were sold.
One would logically expect the same to happen with the housing market after the rebate program ended. I don't see where the fear of the future has changed for better or worse in a person's mind where it would effect the purchase of a home from before the rebate program till this past month.
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| Name: |
comrade
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| Subject: |
Obama delivers ... again.
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Date:
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6/24/2010 11:05:52 AM
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Do you think a glance at your 401k would help clarify your outlook?
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| Name: |
water_watcher
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| Subject: |
Fish ... you are such a fool!!!!
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Date:
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6/24/2010 12:14:13 PM
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Your statement ... "without government cash on the table" .... that is the problem with your thinking in a nutshell ... you think it is the governments money. They have no money, only what they take from tax payers. Since you probably are not one ... that could be why you think of it as "governments money".
You are a sad excuse for even a jellyfish ....
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| Name: |
water_watcher
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| Subject: |
Obama delivers ... again.
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Date:
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6/24/2010 12:23:36 PM
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BTW fish ... the federal reserve downgraded the economy, unemployment is not getting better and those out of work 6 months or more keeps rising.
This is not a blip off high levels in housing .... the numbers were already at historical lows even with the wasted government give aways of our hard earned tax dollars to put the country deeper and deeper in debt. The levels reported this past month were the worst at anytime in over 200 years. This is not in relative terms to the size of the economy now ... but in real terms ... actual housing starts (reflection of if builders think people will be buying houses in the next 6-9 months) and actual units sold.
Either you need to wake up from your dream that Obama has done anything right ... or wake us all up from the nightmare we are living with socialist liberals ruining the best capitalist county that once was the envy of the world and is not becoming the biggest joke thanks to Obama.
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| Name: |
GoneFishin
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| Subject: |
Obama delivers ... again.
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Date:
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6/24/2010 1:00:18 PM
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I don't disagree but I still contend coming off the rebate program, the high level of forclosures or exisiting homes for sale coupled with the fact that mortgages aren't available to the large number who bought before with no real income to pay has dramatically reduced the new homes being built. But, then I am just a fool.
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| Name: |
comrade
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| Subject: |
Obama delivers ... again.
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Date:
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6/24/2010 1:35:07 PM
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Back to the point I think you were trying to make: Why would this change in the next few months?
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| Name: |
GoneFishin
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| Subject: |
Obama delivers ... again.
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Date:
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6/24/2010 4:27:08 PM
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Answer the question why were so many homes sold as a result of the $8,000 tax credit if so many are worried about the future? They must have a steady income to qualify for a mortgage. I would assume thet were mostly young as they were first home buyers.
Why have sales of new cars increased after the low point after the cash for clunker program ended?
It is my opinion that housing will recover from the low point as people who did not feel the $8,000 was motivation to buy come into the market. Give it some time.
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| Name: |
water_watcher
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| Subject: |
what a dreamer ... you don't read do you?
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Date:
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6/24/2010 6:41:19 PM
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First the $8K redistribution of wealth was not a success ... housing prices continued to fall and many would not jump in trying to catch a falling knife. A high percentage of those that did buy, were going to buy anyway due to need, relocation, etc. Just like the cash for clunker program.
There is a huge difference in people committing to buy a car and if they do finance it is a 3 year commitment. People must have transportation so that will recover faster due to the lower investment and shorter time horizon. Also many car companies had programs if you lose your job you can return the car and owe nothing more.
Buying a home for most people is the single largest investment ... do you buy any investment if you think it may go lower? I don't. Do you think $8,000 really will impact someones decision on even a modest home purchase in the $200-$300k range when the price could drop another 10%, 20% ? If someone believed housing prices had bottomed, they would be jumping in head first.
Lastly, nearly 80% of the homes purchased with the $8K credit were backed by Fannie and Freddie ... do you also know they have over $500 billion of loans on their books that are in default one month or more and 11% are over 1 year in default without a payment. This is a huge problem. Banks will not take new risks with housing prices falling unless someone has over a 780 credit score and has at least 25% down/equity. Short of that they let the government back the loan through Fannie and Freddie. A bubble ready to burst for phase two of the housing crisis.
Yet the dems do not even want to require a minimum 5% down for fear it will restrict home ownership to only those that can afford it. :)
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| Name: |
water_watcher
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| Subject: |
and tell us how much time?
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Date:
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6/24/2010 6:47:11 PM
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You said ... give it some time? Things have only gotten worse under Obama's policies ... when are we suppose to see the improvements that keep being promised. Remember the stimulus was suppose to prevent unemployment from going over 8% ... all you hear Obama saying is that it saved a lot of jobs ... not sure I believe that ... but what other president has ever said ... well it could have been worse. No, they are measured off results and how many jobs were created. Things could have been much better by now with different policy and leadership.
It seems the majority of the world is now getting that ... not you .... keep dreaming about that socialist utopia.
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| Name: |
comrade
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| Subject: |
Obama delivers ... again.
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Date:
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6/24/2010 7:45:50 PM
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I think the attitude of a large number of new home buyers (particularly those financing through Freddie and Fannie) is that if things don't work out (translated - I can't keep up the payments), then it is no big deal to default on the loan and give uup the house. So to be able to get in for $8K less just makes the process even easier - take it away and we go back to the status before.. My opinion.
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| Name: |
GoneFishin
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| Subject: |
Obama delivers ... again.
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Date:
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6/24/2010 8:27:05 PM
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WW, if you read my previous posts I back a 20% down payment and have no support for any porposal requiring a 5% down payment.
You seem to answer your own question on why people aren't buying. Waiting for a bottom is quite different than the future. I have been to auctions for condos and homes. They all sell subject to acceptance. Some go through and some fall through cause the owner thinks their property is worth more. Prices have tumbled...a condo that was on the market origionally for $595,00 was sold for $175,000. After selling the first one, they closed down the auction. There were many there with bidding fans. People expected since it was an absolute auction that other units were going to be auctioned and would go for less. Surprise, they only had to sell the first at absolute.
A friend bought a beach house for $249,000 in 2003. They put it on the market in April for $239,000. It sold in May for $215,000 and the buyer received the $8,000 tax credit for a net of $207,000. Price it right and you can sell it.
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