http://www.usatoday.com/money/economy/ho...town_N.htm

Classic.

The gov't now owns worthless homes, worthless car manufacturers...what's next?

Those of you on the political left keep telling us how this is good for everyone.

What a joke.

(05-15-2009 07:30 AM)DrTorch Wrote:  http://www.usatoday.com/money/economy/ho...town_N.htm

Classic.

The gov't now owns worthless homes, worthless car manufacturers...what's next?

Those of you on the political left keep telling us how this is good for everyone.

What a joke.

Its bad out there...and it not going to end this year.

I had a long talk with a high end cabinet manf. yesterday that services the Charlotte market. He said that in one subdivision in Charlotte there were over 70 homes for sale or in foreclosure...all in the 1 million price range. 40+ in another subdivision priced 1.5 mil or above.
Its going to take a long time to sort this mess out.

(05-15-2009 07:57 AM)Fo Shizzle Wrote:  

(05-15-2009 07:30 AM)DrTorch Wrote:  http://www.usatoday.com/money/economy/ho...town_N.htm

Classic.

The gov't now owns worthless homes, worthless car manufacturers...what's next?

Those of you on the political left keep telling us how this is good for everyone.

What a joke.

Its bad out there...and it not going to end this year.

I had a long talk with a high end cabinet manf. yesterday that services the Charlotte market. He said that in one subdivision in Charlotte there were over 70 homes for sale or in foreclosure...all in the 1 million price range. 40+ in another subdivision priced 1.5 mil or above.
Its going to take a long time to sort this mess out.

I don't doubt it. Sony lost money. Toyota lost money. Honda is buying out employees.
These are companies that look to the long term...if they're battonng the hatches, then the storm is going to be fierce indeed.

(05-15-2009 07:57 AM)Fo Shizzle Wrote:  

(05-15-2009 07:30 AM)DrTorch Wrote:  http://www.usatoday.com/money/economy/ho...town_N.htm

Classic.

The gov't now owns worthless homes, worthless car manufacturers...what's next?

Those of you on the political left keep telling us how this is good for everyone.

What a joke.

Its bad out there...and it not going to end this year.

I had a long talk with a high end cabinet manf. yesterday that services the Charlotte market. He said that in one subdivision in Charlotte there were over 70 homes for sale or in foreclosure...all in the 1 million price range. 40+ in another subdivision priced 1.5 mil or above.
Its going to take a long time to sort this mess out.

Which neighborhood?

BTW, Interesting that the CRA caused those 70 $1.5mm foreclosures and thousands more like them. Damn the political left!

(05-15-2009 08:08 AM)Artifice Wrote:  

(05-15-2009 07:57 AM)Fo Shizzle Wrote:  

(05-15-2009 07:30 AM)DrTorch Wrote:  http://www.usatoday.com/money/economy/ho...town_N.htm

Classic.

The gov't now owns worthless homes, worthless car manufacturers...what's next?

Those of you on the political left keep telling us how this is good for everyone.

What a joke.

Its bad out there...and it not going to end this year.

I had a long talk with a high end cabinet manf. yesterday that services the Charlotte market. He said that in one subdivision in Charlotte there were over 70 homes for sale or in foreclosure...all in the 1 million price range. 40+ in another subdivision priced 1.5 mil or above.
Its going to take a long time to sort this mess out.

Which neighborhood?

He did not say.

(05-15-2009 08:08 AM)Artifice Wrote:  

(05-15-2009 07:57 AM)Fo Shizzle Wrote:  

(05-15-2009 07:30 AM)DrTorch Wrote:  http://www.usatoday.com/money/economy/ho...town_N.htm

Classic.

The gov't now owns worthless homes, worthless car manufacturers...what's next?

Those of you on the political left keep telling us how this is good for everyone.

What a joke.

Its bad out there...and it not going to end this year.

I had a long talk with a high end cabinet manf. yesterday that services the Charlotte market. He said that in one subdivision in Charlotte there were over 70 homes for sale or in foreclosure...all in the 1 million price range. 40+ in another subdivision priced 1.5 mil or above.
Its going to take a long time to sort this mess out.

Which neighborhood?

BTW, Interesting that the CRA caused those 70 $1.5mm foreclosures and thousands more like them. Damn the political left!

Of course, b/c anything more complex than water running downhill is just nutwing extremism. Sorry that there are people who can think beyond putting on foot in front of the other. Obviously thinking isn't politically correct.

You're right. Let the free market take over.

(05-15-2009 08:23 AM)DrTorch Wrote:  

(05-15-2009 08:08 AM)Artifice Wrote:  

(05-15-2009 07:57 AM)Fo Shizzle Wrote:  

(05-15-2009 07:30 AM)DrTorch Wrote:  http://www.usatoday.com/money/economy/ho...town_N.htm

Classic.

The gov't now owns worthless homes, worthless car manufacturers...what's next?

Those of you on the political left keep telling us how this is good for everyone.

What a joke.

Its bad out there...and it not going to end this year.

I had a long talk with a high end cabinet manf. yesterday that services the Charlotte market. He said that in one subdivision in Charlotte there were over 70 homes for sale or in foreclosure...all in the 1 million price range. 40+ in another subdivision priced 1.5 mil or above.
Its going to take a long time to sort this mess out.

Which neighborhood?

BTW, Interesting that the CRA caused those 70 $1.5mm foreclosures and thousands more like them. Damn the political left!

Of course, b/c anything more complex than water running downhill is just nutwing extremism. Sorry that there are people who can think beyond putting on foot in front of the other. Obviously thinking isn't politically correct.

Please regale us with how big jumbo mortgage foreclosures in the last few years are Obama's fault. This should be good. Tinfoil hats everyone.

(05-15-2009 10:00 AM)Artifice Wrote:  Please regale us with how big jumbo mortgage foreclosures in the last few years are Obama's fault. This should be good. Tinfoil hats everyone.

What "Had Happened" post 01/20/09 may not be totally his fault, BUT Obama was a member of Congress before being the TOTUS .... MEANING he is not Innocent of ANY OF THIS FINANCIAL MELTDOWN by a long shot.

And now, with his uber-super-idiotic "Spending-To-Nowhere" spree, he has only harmed an already precarious and fragile financial situation to a point of utter unrecoverable ruin.

He, as a Member of Congress, SHOULD have BEEN THERE VOTING for REAL instead of Voting Present like some Coward on 90% of all Bills put before him.

He is to blame just as much as GW is to blame for all this and why people forget he was a Sitting Member of a Voting Congress which allowed all this Fiscal Nuking and let him Slip By With It is just shear Messiah Worshiping Crap.

Tin Foil there bud ????

.

(05-15-2009 10:00 AM)Artifice Wrote:  

(05-15-2009 08:23 AM)DrTorch Wrote:  

(05-15-2009 08:08 AM)Artifice Wrote:  

(05-15-2009 07:57 AM)Fo Shizzle Wrote:  

(05-15-2009 07:30 AM)DrTorch Wrote:  http://www.usatoday.com/money/economy/ho...town_N.htm

Classic.

The gov't now owns worthless homes, worthless car manufacturers...what's next?

Those of you on the political left keep telling us how this is good for everyone.

What a joke.

Its bad out there...and it not going to end this year.

I had a long talk with a high end cabinet manf. yesterday that services the Charlotte market. He said that in one subdivision in Charlotte there were over 70 homes for sale or in foreclosure...all in the 1 million price range. 40+ in another subdivision priced 1.5 mil or above.
Its going to take a long time to sort this mess out.

Which neighborhood?

BTW, Interesting that the CRA caused those 70 $1.5mm foreclosures and thousands more like them. Damn the political left!

Of course, b/c anything more complex than water running downhill is just nutwing extremism. Sorry that there are people who can think beyond putting on foot in front of the other. Obviously thinking isn't politically correct.

Please regale us with how big jumbo mortgage foreclosures in the last few years are Obama's fault. This should be good. Tinfoil hats everyone.

Where did I ever link this to Obama?

You really should stop believing your own fallacious accuations. It's funny every time you lose an argument you fabricate something out of thin air in order to save face.

You're awfully closed minded and intolerant. Remember Artifice, a mind is like an umbrella, it only works when it's open.

Stop dodging the question. Whats your grand scheme to blame jumbo mortgage defaults on Democrats.

(05-15-2009 10:22 AM)Artifice Wrote:  Stop dodging the question. Whats your grand scheme to blame jumbo mortgage defaults on Democrats.

Where did I ever say those were the fault of Dems? Is 'Artifice' latin for 'Straw Man' or something.

At any rate, I think you can make a pretty sound case that the CRA was a primary contributor to the housing bubble, where increased demand led to increased prices, which spiraled to an increased demand in high-end homes. Ultimately these individuals made foolish decisions, for which they are responsible, however gov't involvement fueled that situation.

Furthermore, burdensome gov't regulation, and the taxes to support oversight for these regulations, are opposed to successful private sector enterprises. These largely come from the political left as well. Thus many of these people are w/o jobs to pay for these large homes b/c the political environment is strangling a successful private sector economy.

Is that far-fetched enough for you? 'Cause if you think it is, please feel free to pursue the entrepreneur's dream, and send us reports from the front.

way things are setting up, the home builders remaining will go under unless some Real Estate inflation kicks back in soon. Then new companies will come along and buy up their assets in bankruptcy court for pennies on the dollar and be positioned to make some money.

BTW...The Plywood mfg. I work for had 100+ employees exactly 1 year ago....I am one of the 12 that are left trying to cash flow the business and ride this damn mess out. I never thought I'd see our owner working on a plywood press and the VP loading trucks...Survival mode has been quite interesting. We do not see ANY chance of a turnaround in the next 12 months. We are staying in business because a 2 or 3 suppliers that we have long standing relationships with and have thrown almost all of their dwindling business our way. I'm very scared of the next 18 months. This could get very ugly. Housing drives the economy...Its not coming back this year and likely not until the 3rd quarter of next year.

I'm saving every spare cent I have. I gotta feeling it going to be needed.