How bad is it?

Broompilot

Veteran Expediter
The Housing market according to the Press is heading right towards the recession of the 30's. Thats when everyone borrowed everything to buy over priced stocks, now we find this economy reflecting the borrowing but not in just stocks (material items).

Thats a different topic though. The Point being is that Subprime loans equal just under 7% of ALL HOME LOANS in the U.S. (greedy lenders, and uneducated borrowers) ever heard the term BUYER BEWARE?

Now of those 7% only 16% are even behind on there monthly payments, thus it works out to 1.1% of the total market of home loans is behing on there payments up just a tick from the norm.

To bring this Point to an end. If the Housing foreclosures in this Country were as bad as the MEDIA has been telling us. NONE OF US WOULD HAVE HAD A LOAD in the last 4 months cause the market would have collapsed and thus no one would be purcahsing anything, as we would all be broke. Things have been better but things are still operating and it needs to be addressed (loaning practices).
 

D Team Brothers

Expert Expediter
Excellent conclusion. Problem is the media, telling us what they want us to think - not news, just their opinions. Continue to think positive and have a great holiday season, working or at home let it be great.
 

LDB

Veteran Expediter
Retired Expediter
The media agenda is the largest factor in what's going on. If we were in a different administration they'd be writing about how great it is that soooooo many were able to get into homes that otherwise couldn't and how excellent it is that soooooo few of them are in any trouble.

Leo Bricker, 73's K5LDB
OOIDA Life Member 677319, JOIN NOW
Owner, Panther trucks 5508, 5509, 5641
EO Forum Moderator
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Support the entire Constitution, not just the parts you like.
 

greg334

Veteran Expediter
"The Housing market according to the Press is heading right towards the recession of the 30's. Thats when everyone borrowed everything to buy over priced stocks, now we find this economy reflecting the borrowing but not in just stocks (material items)."

For those who can remember, 1957 was really a bad year for housing. It was the true end of the expansion of the housing market from WW2 and a lot of homes were empty. Not until Kennedy got elected and there was talk of a renewed life from the old ways with the cold war and such, did housing pick up in the early 60's.

The 1930s was not a recession, it was a depression and from the mid-20's to the beginning of the war, the foreclosure rate of homes and farms increased but were not driven by defaulting loans but because of property taxes with the exception of the dust bowl.

What do you expect from a press that says that the Carter administration gave us the best years the country seen between Kennedy and Clinton?

Housing is not the reason we are seeing problems, home loans are not impacting everyone like it would if we had a depression. The interest rate increase when looked at historically has not increased as much as other things and people who can't afford their home never made rational decisions in the first place. The housing market is inflated, it is over priced and if we have such a problem, then why are they still building homes that surpasses the 1946 to 1950 levels?

Broom is right on with the observation, many tie everything to home sales and home building but that is a false indicator because of the way we play with the numbers.

You all want to have a real solution,

http://www.fairtax.org
 

tallcal101

Veteran Expediter
And Bushwacky appointed the Chairman and CEO of Nationwide Mortgage(a close friend)to be our Ambassador to The Netherlands.Glad he's your Preident.
You guys and your agenda........The good news is as of this very second the pox is of our beloved nation will expire in exactly 399 days,8 hours,39 minutes and 13.1 seconds.
Gore,who you may remember won the election in 2000,recieved his Nobel peace prize for being a TRUE world leader.The American team bumbled through the Global Warming convention in Bali.And the corporations who paid for this mess of an administration sat back and made sure their boy and his moronic administration would ensure that America continues to be the world leader in gas house emissions.
Merry Christmas all,the next 11 months will be lively.I hope you all vote and supoort who ever the next victor is.It's the people who decide,not the supreme court.
Oh,and for those who still believe global warming is nonsense and Gore is just a wind bag for the left,you may wish to move to Atlanta where lake front property comes with a view of a rusted 49 DeSoto which can be viewed from you front porch.
 

greg334

Veteran Expediter
Tallcal,

You been talking to Nancy lately?

“And Bushwacky appointed the Chairman and CEO of Nationwide Mortgage(a close friend)to be our Ambassador to The Netherlands.â€

Look first thing is who cares? It’s the Netherlands. If he appointed him to the UN I would be concerned but a country that is, well rather seems to be the leading exporter of white asparagus, the biggest prostitute service industry in the world and importer of drug users on second thought maybe it is not a bad choice.

“Glad he's your Preident.â€

Tallcal, did you move out of the country? You know by the vary nature of being a citizen, he is sort of your president too?

“You guys and your agenda........The good news is as of this very second the pox is of our beloved nation will expire in exactly 399 days,8 hours,39 minutes and 13.1 seconds.â€

Yea and we inch ever so slightly to the midnight hour on the dooms day clock because of the uncertainty of the next president. Will it be Obama who will negotiate with Al Qaeda or will it be Hillary who will just tax the cr*p out of the terrorist and try to haul them into court because they used some other health care system to get Bin Ladin’s dialysis supplies. I know that there is Ron Paul (please no hate mail you libertarians) who will just build us a shell so we can be like turtles. Not mentioned is Rudy and someone else and that other guy, oh and that Mormon – we don’t want a religious person in office do we?!

“Gore,who you may remember won the election in 2000,recieved his Nobel peace prize for being a TRUE world leader.â€

Oh I see said the blind man, being a leader is preaching that others must change their lifestyle but don’t dare question mine or hint to me to change mine.

Does it really mean that, as a TRUE world leader, I can travel around the globe in a private jet, burning fuel hauling my fat butt around at the same time spewing ‘carbon’ out in the atmosphere all in order to sell an idea that really has not been more than a theory and modeled 22 different times because not one scientific group with credibility can agree on which model to use because no one can agree if this is part of nature and that the fact is that history has shown us that the earth heats and cools with the cycles of the sun and we didn’t have satellites and computers in the 9th century to say that the models that we created were wrong to begin with because it does not matter all the while I make millions and still tell people that they have to change but I won’t.

“The American team bumbled through the Global Warming convention in Bali.â€

I agree, what we should have done is this – tell the UN to stay out of our affairs and pull all their funding completely. Boycott the Bali conference on one issue alone, it should have taken place in NYC because the UN is already there AND IF IT WAS THAT SERIOUS AN ISSUE THEY WOULD HAVE USED TECHNOLOGY TO HAVE THE CONFERENCE. Do you know how much pollution was created by this conference alone and how much the UN creates on it's own? Someone pointed out on the radio the other day that this conference created more pollution than the country of Chad produces in one entire year.

But with that said; the h*ll with these socialist in Bali, they want us (the US) to fund the clean up of the world - a mess we didn't create. How dare they say we are not leading the world, we are. The last time I checked, our dirtiest city was cleaner then Paris and Milan. The last time I checked, India and China ceased being a third world country and has stronger economies than we do, make them clean up first. The last time I checked, our productivity rate measured in energy was still higher than China, India, All of Africa and most of Europe, I think the Netherlands beats us but France does not. If they want to see leadership, ok let's lead, start with tariffs on everything from China and India to slow their growth and help us build our economy back up. Then let's revamp our banking system and pull our foreign aid to countries that don't really needed it, like Japan and France (yes we are still giving money to them). Then let's get really aggressive with our oil and start drilling in international waters like the gulf. Then let’s take our troops out of Korea, Germany, Africa and other places where we safe guard the places on our dime – you know moving troops around creates carbon. Then let’s see who’s economy really hurts and why.

Oh and tell the idiot from Papua New Guinea that we did show leadership and his country better not forget it, we fought one bad campaign to free his country, it was called Bougainville.

“And the corporations who paid for this mess of an administration sat back and made sure their boy and his moronic administration would ensure that America continues to be the world leader in gas house emissions.â€

Hey what I find really sad and funny at the same time is NASA (our money pit) has said that if we want to keep temps stable, particles in the air will help in the upper atmosphere. So diesel pollution helps?

I read that there are 22 major computer models and something like 600 minor computer models, many use data collected over the last 4 decades (those are the leading models used) and some use data form monitoring sights that are next to freeways, in jet take off paths and other locations they naturally show increases in temperatures. Makes you wonder who are the morons here, the administration or the people who believe the science is absolute.

But with that said, what is your solution?

“Merry Christmas all,the next 11 months will be lively.I hope you all vote and supoort who ever the next victor is.It's the people who decide,not the supreme court.â€

Yes the only reason the court got involved was our weak leadership everywhere.

“Oh,and for those who still believe global warming is nonsense and Gore is just a wind bag for the left,you may wish to move to Atlanta where lake front property comes with a view of a rusted 49 DeSoto which can be viewed from you front porch.â€

It is not that I don’t believe in a global warming, that is a fact but I am not convinced that it is humans who caused it. I read about what happened in Europe a thousand years ago, how the lands in the north had two centuries of warming and bountiful crops and a big boom of population. I can’t understand how that happened if they were an agrarian society. I do also believe that people like Di Caprio, ALGORE and others like them are perfect hypocrites, there is something about having a 15,000 sq ft place or putting u a solar panel, it just does not convey the right message to me ‘I care about the earth’. And no where do I hear the work of others who live the lifestyle and make it look easy. I point my finger and shake them to Ed Begley jr. and others like him – they should be the ones getting the Nobel peace prize, not ALGORE. If you want to see leadership, go look up Mr. Begley, for that matter you may already know him. Stop by his house and see if he travels with an entourage of limos and private jets.

Oh Tallcal, I do think something came out of the Bali conference, the need to slow down development and increase forest supplies. I think it is a good thing that this has been put out in the forefront but the one thing that (again) really bothers me is the mention that the US foots the bill for it.
 

Jefferson3000

Expert Expediter
Hey Greg,

Speaking of Global Warming: Remember less than ten years ago all of the scientific community was talking about Global COOLING and how we were headed for another ice age? Makes you trust the "scientific community" all the more, doesn't it? Funny that hardly anyone mentions that these days......=)


Drive Safe!

Jeff

Driver for 15 years
O/O for 13 years
OOIDA #829119

[em]"Let us be thankful for the fools. But for them the rest of us could not succeed." --Mark Twain[/em]
 

Pappy

Expert Expediter
I just saw a news special that blatently stated: Whatever the value of your home today---It will roughly be the same value 10 years from now! Unbelievable---No appreciation in 10 years. At this point I'm not planning on buying any spec houses.

However, due to the severe drought conditions in the south water levels at many lakes are down as much as 10 ft. below full stage. Mayy people who live on lakes have seen their boats tied to their docks sitting in mud now for months. Therefore lakefront property can be found and purchased for as little as one fourth or less of its original value!
So for any of you investors---Theres you an idea!

Pappy :)
 
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