Housing bubble 2008

[Euro]

How was the mood before the housing bubble in 2008? Did Bush see it coming?

Did people complain about high housing prices?
Did people complain about high building costs?
Did you see the bubble coming?

Did you see it coming and did you get affected.? Did people have to much debt?

 

[Caroljo]

How was the mood before the housing bubble in 2008? Did Bush see it coming?

Did people complain about high housing prices?
Did people complain about high building costs?
Did you see the bubble coming?

Did you see it coming and did you get affected.? Did people have to much debt?

The Bush administration tried to warn them back in 2004/2005 (in that area)...Congress at the time (mostly democrats and Barny Frank) refused to listen.

[ame=http://www.youtube.com/watch?v=iW5qKYfqALE]Barney Frank in 2005: What Housing Bubble? - YouTube[/ame]

I have no idea about your other questions and what other's thought...but i know it affected me, our house appraisals fell almost by half! So you can thank the democrats in Congress at the time, they were warned and said "everything is just fine".

 

[Wiseacre]

How was the mood before the housing bubble in 2008? Did Bush see it coming?

Did people complain about high housing prices?
Did people complain about high building costs?
Did you see the bubble coming?

Did you see it coming and did you get affected.? Did people have to much debt?

I saw it coming, it should've been obvious that the home prices were all out of whack. No one knew for sure when it would pop, but there as no question that the bubble would burst.

I seem to recall Bush and the repubs tried to legislate more oversight over the mortgage industry, but it got shot down. That bubble was a long time in the making and both sides of the aisle were complicit.

 

[expat_panama]

How was the mood before the housing bubble in 2008? Did Bush see it coming?...

I saw it coming, it should've been obvious...

--especially considering the fact that prices had stopped growing two years earlier and were falling since the beginning of '07. By mid '08 real estate values had already lost $5T --20%!

 

[onecut39]

How was the mood before the housing bubble in 2008? Did Bush see it coming?

Did people complain about high housing prices?
Did people complain about high building costs?
Did you see the bubble coming?

Did you see it coming and did you get affected.? Did people have to much debt?

Economists were writing about the housing bubble and its inevitable bust as far back as 2004.

Where there is money to be made everyone thinks they will get out before the bust. Politicians hope it lasts beyond the next election. Most don't make it.

"Only a fool waits for top dollar"
............................................Joseph P Kennedy.............................

 

[Politico]

Wasn't a surprise to me. I saw it coming in 2001.

 

[Rshermr]

How was the mood before the housing bubble in 2008? Did Bush see it coming?

Did people complain about high housing prices?
Did people complain about high building costs?
Did you see the bubble coming?

Did you see it coming and did you get affected.? Did people have to much debt?

I saw it coming, it should've been obvious that the home prices were all out of whack. No one knew for sure when it would pop, but there as no question that the bubble would burst.

I seem to recall Bush and the repubs tried to legislate more oversight over the mortgage industry, but it got shot down. That bubble was a long time in the making and both sides of the aisle were complicit.

Any data to support your claims??
Honestly, all I can remember is Bush and the repubs bragging about home ownership numbers increasing and Greenspan telling anyone who would listen that the housing market was bomb proof.

 

[uscitizen]

I saw it coming, made nearly a million off of it from speculators and got out and bought Gold Eagles for about $550.

 

[uscitizen]

How was the mood before the housing bubble in 2008? Did Bush see it coming?

Did people complain about high housing prices?
Did people complain about high building costs?
Did you see the bubble coming?

Did you see it coming and did you get affected.? Did people have to much debt?

I saw it coming, it should've been obvious that the home prices were all out of whack. No one knew for sure when it would pop, but there as no question that the bubble would burst.

I seem to recall Bush and the repubs tried to legislate more oversight over the mortgage industry, but it got shot down. That bubble was a long time in the making and both sides of the aisle were complicit.

Any data to support your claims??
Honestly, all I can remember is Bush and the repubs bragging about home ownership numbers increasing and Greenspan telling anyone who would listen that the housing market was bomb proof.

I do recall the right bragging about rising home ownership numbers and the economy was doing so great.
IN July 2008 didn't McCain say the economy was fundamentally sound?

[ame="http://www.youtube.com/watch?v=GkAtUq0OJ68"]http://www.youtube.com/watch?v=GkAtUq0OJ68[/ame]

 

[AquaAthena]

I saw it coming, it should've been obvious that the home prices were all out of whack. No one knew for sure when it would pop, but there as no question that the bubble would burst.

I seem to recall Bush and the repubs tried to legislate more oversight over the mortgage industry, but it got shot down. That bubble was a long time in the making and both sides of the aisle were complicit.

Any data to support your claims??
Honestly, all I can remember is Bush and the repubs bragging about home ownership numbers increasing and Greenspan telling anyone who would listen that the housing market was bomb proof.

I do recall the right bragging about rising home ownership numbers and the economy was doing so great.
IN July 2008 didn't McCain say the economy was fundamentally sound?

[ame="http://www.youtube.com/watch?v=GkAtUq0OJ68"]George Bush: we want everybody in America to own their own home. That's what we want. - YouTube[/ame]

A September 11, 2003 New York Times article shows that President Bush proposed “the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.” His proposal: An agency within the Treasury Department to supervise mortgage giants Fannie Mae and Freddie Mac.


Fearing that mortgages would no longer be available to people who were unable to pay them back, Democrats eventually killed the proposal. The current meltdown in the mortgage industry is a direct result of giving mortgages to people who could not pay them back, a practice protected by Congressional Democrats.


Both entities were recently taken over by the government, a move that puts trillions of taxpayer dollars at risk.


More:



http://www.nytimes.com/2003/09/11/business/new-agency-proposed-to-oversee-freddie-mac-and-fannie-mae.html



I believe there has been more alarm raised about potential unsafty and unsoundness [of Fannie Mae and Freddie Mac] than, in fact, exists."- Barney Frank... 9/25/2003

The more people, in my judgment, exaggerate a threat of safety and soundness, the more people conjure up the possibility of serious financial losses to the Treasury, which I do NOT see. Barney Frank---9/11/ 2003

I want to roll the dice a little bit more in this situation towards subsidized housing."--Barney Frank---9/25/2005


"These two entities--Fannie Mae and Freddie Mac---are not facing any kind of financial crisis." Barney Frank -- 9/11/2003


"Fannie and Freddie are fundamentally sound, they are not in danger of going under----I do think their prospects of going forward are very solid." -- Barney Frank-- 7/14/2008

 

[iamwhatiseem]

How was the mood before the housing bubble in 2008? Did Bush see it coming?...

I saw it coming, it should've been obvious...

--especially considering the fact that prices had stopped growing two years earlier and were falling since the beginning of '07. By mid '08 real estate values had already lost $5T --20%!

Exactly...if your investments lost money in 2008/09 - then you had your head buried in the sand. I went liquid before the collapse and went all in, in early 2009.
Anyone who paid even slight attention to what was going on pre-collapse saw it coming...or should I say anyone who doesn't pay attention to the talking fools on MSM "economic experts"

Likewise...anyone not bearish now is asking for it.

 

[Rshermr]

Any data to support your claims??
Honestly, all I can remember is Bush and the repubs bragging about home ownership numbers increasing and Greenspan telling anyone who would listen that the housing market was bomb proof.

I do recall the right bragging about rising home ownership numbers and the economy was doing so great.
IN July 2008 didn't McCain say the economy was fundamentally sound?

[ame="http://www.youtube.com/watch?v=GkAtUq0OJ68"]George Bush: we want everybody in America to own their own home. That's what we want. - YouTube[/ame]

A September 11, 2003 New York Times article shows that President Bush proposed “the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.” His proposal: An agency within the Treasury Department to supervise mortgage giants Fannie Mae and Freddie Mac.


Fearing that mortgages would no longer be available to people who were unable to pay them back, Democrats eventually killed the proposal. The current meltdown in the mortgage industry is a direct result of giving mortgages to people who could not pay them back, a practice protected by Congressional Democrats.


Both entities were recently taken over by the government, a move that puts trillions of taxpayer dollars at risk.


More:



http://www.nytimes.com/2003/09/11/business/new-agency-proposed-to-oversee-freddie-mac-and-fannie-mae.html



I believe there has been more alarm raised about potential unsafty and unsoundness [of Fannie Mae and Freddie Mac] than, in fact, exists."- Barney Frank... 9/25/2003

The more people, in my judgment, exaggerate a threat of safety and soundness, the more people conjure up the possibility of serious financial losses to the Treasury, which I do NOT see. Barney Frank---9/11/ 2003

I want to roll the dice a little bit more in this situation towards subsidized housing."--Barney Frank---9/25/2005


"These two entities--Fannie Mae and Freddie Mac---are not facing any kind of financial crisis." Barney Frank -- 9/11/2003


"Fannie and Freddie are fundamentally sound, they are not in danger of going under----I do think their prospects of going forward are very solid." -- Barney Frank-- 7/14/2008

Wow, there is a non biased and well supported analysis of what happened. All freddy and fanny. And that nasty fed.
So, a whole series of postings that say what a con would like to believe. You could spend some time looking at the other issues out there that independent experts actually believe caused the crash. But then, as a con, you only look at what you would like to believe.
Waste of time.

 

[Caroljo]

I do recall the right bragging about rising home ownership numbers and the economy was doing so great.
IN July 2008 didn't McCain say the economy was fundamentally sound?

George Bush: we want everybody in America to own their own home. That's what we want. - YouTube

A September 11, 2003 New York Times article shows that President Bush proposed “the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.” His proposal: An agency within the Treasury Department to supervise mortgage giants Fannie Mae and Freddie Mac.


Fearing that mortgages would no longer be available to people who were unable to pay them back, Democrats eventually killed the proposal. The current meltdown in the mortgage industry is a direct result of giving mortgages to people who could not pay them back, a practice protected by Congressional Democrats.


Both entities were recently taken over by the government, a move that puts trillions of taxpayer dollars at risk.


More:



http://www.nytimes.com/2003/09/11/business/new-agency-proposed-to-oversee-freddie-mac-and-fannie-mae.html



I believe there has been more alarm raised about potential unsafty and unsoundness [of Fannie Mae and Freddie Mac] than, in fact, exists."- Barney Frank... 9/25/2003

The more people, in my judgment, exaggerate a threat of safety and soundness, the more people conjure up the possibility of serious financial losses to the Treasury, which I do NOT see. Barney Frank---9/11/ 2003

I want to roll the dice a little bit more in this situation towards subsidized housing."--Barney Frank---9/25/2005


"These two entities--Fannie Mae and Freddie Mac---are not facing any kind of financial crisis." Barney Frank -- 9/11/2003


"Fannie and Freddie are fundamentally sound, they are not in danger of going under----I do think their prospects of going forward are very solid." -- Barney Frank-- 7/14/2008

Wow, there is a non biased and well supported analysis of what happened. All freddy and fanny. And that nasty fed.
So, a whole series of postings that say what a con would like to believe. You could spend some time looking at the other issues out there that independent experts actually believe caused the crash. But then, as a con, you only look at what you would like to believe.
Waste of time.

Then why don't you enlighten us?

 

[uscitizen]

Every right winger should listen to what Bush said in the above clip.

 

[EdwardBaiamonte]

Every right winger should listen to what Bush said in the above clip.

why be so afraid to tell
us directly what we'd learn???????? What does your fear tell us?

 

[EdwardBaiamonte]

You could spend some time looking at the other issues out there that independent experts actually believe caused the crash.

our greatest newspapers and economists believe it was liberal intervention!!!! Sorry!!

"First consider the once controversial view that the crisis was largely caused by the Fed's holding interest rates too low for too long after the 2001 recession. This view is now so widely held that the editorial pages of both the NY Times and the Wall Street Journal agree on its validity!"...John B. Taylor( arch conservative, author of the Taylor Rule)

" The Federal reserve having done so much to create the problems in which the economy is now mired, having mistakenly thought that even after the housing bubble burst the problems were contained, and having underestimated the severity of the crisis, now wants to make a contribution to preventing the economy from sinking into a Japanese Style malaise....... - "Joseph Stiglitz"


If you still can't grasp what happened why not read "Reckless Endangerment" by NY Times person and see if you can say with a straight face that the crisis was not caused by liberal interference wit the free market.

 

[Euro]

I saw it coming, made nearly a million off of it from speculators and got out and bought Gold Eagles for about $550.

How was the prices on the rental market before and after the bubble?
How was the cost of buying a house beofre/after the bubble?

Did interest rate have anything to say?

 

[EdwardBaiamonte]

Honestly, all I can remember is Bush and the repubs bragging about home ownership numbers increasing and Greenspan telling anyone who would listen that the housing market was bomb proof.

and now we know when liberal government distorts a market it can cause a depression.

Imagine the market for beer or steel as it is now, then imagine it if liberals wanted everyone to have all the beer and steel they wanted!!

 

[uscitizen]

[ame=http://www.youtube.com/watch?v=kNqQx7sjoS8]Home Ownership and President Bush - YouTube[/ame]

Gets interesting about 4:30 about fannie and freddie.

 

[EdwardBaiamonte]

Home Ownership and President Bush - YouTube

Gets interesting about 4:30 about fannie and freddie.

Who cares?? nobody thinks of Bush as a real Tea Party conservative libertarian Republican