Comments on: Republicans shift gears on housing market ‘reform’ http://www.capitolhillblue.com/node/40021 The oldest political news site on the Internet because nobody's life, liberty or property is safe while Congress is in session. Tue, 18 Jun 2013 17:14:39 +0000 hourly 1 http://wordpress.org/?v=3.5.1 By: Carl Nemo http://www.capitolhillblue.com/node/40021/comment-page-1#comment-150795 Carl Nemo Tue, 29 Mar 2011 20:36:50 +0000 http://www.capitolhillblue.com/?p=40021#comment-150795 The housing market is dead due to the massive loss of jobs nationwide for the blue collar class citizen in particular. Recently a statistic was quoted by one of our site members that over 42,000 factories have been closed in this country since 2000. Our elected crimpols keep addressing symptoms instead of the root cause which is the continual offshoring of jobs, outsourcing of specific job functions, the glut of H1-b visas and not clamping down on illegal immigration. We’ve been cut loose to defend for ourselves, while no doubt all of the dirtbag reps have their secret offshore accounts in another currency besides the USD and gold while they continue everyday in every way to scuttle our nation.

How many people are surviving on unemployment extensions, food stamps, their savings gutted and no work history to even get a loan. Our housing market crash is the equivalent of Japan’s recent earthquake event. Seemingly the sob’s that caused this monstrous nightmare are going to get away with their crimes while our elected blithereing leadership gives them the Kings X to continue on only in different scheming ways.

You responded to an article the other night to the effect that you are considering the rental of your home that’s been for sale. That article was blowing smoke concerning “it’s time to buy”, this is the worst time to buy because the housing market hasn’t found a bottom as yet and it won’t for years to come. During the Great Depression, virtual mansions ended going for $5-10g’s which was a lot of money n those times, but the mansions originally went for hundreds of thousands of dollars for that period, real mansions made of stone, brick and not stick-built McMansions of our times. The smart thing is for people to rent until the dust settles which could be many years yet down the road. We’re also facing sovereign default. We’re flat dead broke as a nation and the madmen and women at the helm of the USS America seemingly have no intention of turning us about from an imminent engagement with rocky shoals.

Carl Nemo **==

]]> By: woody188 http://www.capitolhillblue.com/node/40021/comment-page-1#comment-150785 woody188 Tue, 29 Mar 2011 19:31:20 +0000 http://www.capitolhillblue.com/?p=40021#comment-150785 Over 95% of loans are purchased by Fannie and Freddy. Both are in debt by some combined $5 trillion dollars, yet they somehow still purchase all these loans freeing up the origination banks to re-lend the cash and act only as the loan servicing agent for a handsome fee. Ending them would end another free ride for banks, which is why this initiative will fail. But ending them would also drop the housing market into a deep hole for some 30 years. It’s a no-win situation. Their is much more pain ahead for the housing market.

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