Housing Starts Soar

[eagle1462010]

Is it just me, or is Dad and Obnoxious Troll...............

 

[boedicca]

Is it just me, or is Dad and Obnoxious Troll...............

I'm going to go with Obnoxious Troll.

He's so awful, he makes me miss Truthmattersnot, for which I will never forgive him.

 

[GWV5903]

Do you even have a clue what FHA DPA is?

If you know so much, why don't you explain it?

What is the FICO score requirement?

How much was the down payment?

WHY THE FUCK DON'T YOU HAVE A BRAIN? SERIOUSLY?

Down Payment Assistance

It is clear to anyone who has studied the financial crisis of 2008 that the private sector’s drive for short-term profit was behind it. More than 84 percent of the sub-prime mortgages in 2006 were issued by private lending. These private firms made nearly 83 percent of the subprime loans to low- and moderate-income borrowers that year.


Out of the top 25 subprime lenders in 2006, only one was subject to the usual mortgage laws and regulations.

The nonbank underwriters made more than 12 million subprime mortgages with a value of nearly $2 trillion. The lenders who made these were exempt from federal regulations.


Lest We Forget Why We Had A Financial Crisis - Forbes


Q HOLY JESUS! DID YOU JUST PROVE THAT OVER 50 % OF ALL MORTGAGES IN 2006 DIDNT REQUIRE BORROWERS TO DOCUMENT THEIR INCOME?!?!?!?

A Yes.




Q WHO THE HELL LOANS HUNDREDS OF THOUSANDS OF DOLLARS TO PEOPLE WITHOUT CHECKING THEIR INCOMES?!?!?

A Banks.

Q WHY??!?!!!?!

A Two reasons, greed and Bush's regulators let them


FACTS on Dubya s great recession US Message Board - Political Discussion Forum

How much was the down payment????

How much did the FHA DPA borrower have at risk???

Is this too much to ask???

I have always known you have no clue, but Google couldn't answer this one for you could it?

The Sub Prime Stated Zero Down Loan made it's way to the market due to FHA DPA and Clintoon gave birth to it in late '96, Fact...

You're drowning in your own shit...

 

[EdwardBaiamonte]

[ More than 84 percent of the sub-prime mortgages in 2006 were issued by private lending.

and all were purchased with money created by the Fed to stimulate the economy, most were bought or guaranteed by Fanny Freddie, and all were further secured by the Greenspan Put,i.e., the continuous printing of money to keep housing prices going up as they always had to, in effect, guarantee there was no downside risk to any party associated with any mortgage!

See why they say dumbto3?

 

[EdwardBaiamonte]

like we know how many we are supposed to have?

Yes. If you understand demographic trends, simple supply and demand dynamics, and can do grade three math, you can figure out roughly how many homes need to be built each year.

great, finally a man who can predict the future!

 

[MeBelle]

Economic News Today: Housing Starts Soar To 2014 High; Inflation Tame - Investors.com

Good news. Who wants to celebrate with me?

Amazing, six posts in and the rocks start to get thrown. *sigh*

Anyhow, yes it's wonderful about housing starts soaring.
But who's going to be buying them?
And what about existing inventory?

New-Home Sales Fall Again As First-Time Buyers Still Scarce - Investors.com

 

[LoneLaugher]

Why do you think builders are stupid?

 

[EdwardBaiamonte]

Why do you think builders are stupid?

they are not, its just that its always hard to predict the future .

 

[GWV5903]

Why do you think builders are stupid?

Builders are not stupid...

Smarter builders (that would be our company) made money in the down turn and kept a lot of our trade partners working...

The publics tend to take larger risk and it is very hard to get out from under them with market changes...

 

[EdwardBaiamonte]

Why do you think builders are stupid?

Builders are not stupid...
.

well if liberals can say Banksters were stupid you can say builders, and all those connected directly and indirectly to the industry, were too since they did not foresee the bubble bursting or even the bubble! The truth is, a market behaves very very irrationally when there is massive liberal govt inteference from 100 different directions. In that case there is no predicting the future. Most elected to simply keep dancing until the music stopped!

 

[GWV5903]

Why do you think builders are stupid?

Builders are not stupid...
.

well if liberals can say Banksters were stupid you can say builders, and all those connected directly and indirectly to the industry, were too since they did not foresee the bubble bursting or even the bubble! The truth is, a market behaves very very irrationally when there is massive liberal govt inteference from 100 different directions. In that case there is no predicting the future. Most elected to simply keep dancing until the music stopped!

Now this is stupid...

There is a law called the Equal Housing Act...

You cannot tell people you will not sell them a home because they are going to use FHA DPA or Sub Prime loans as their means to purchase...

Instead of trying to find someone to blame, our Gov can take a bow for most of this...

 

[Politico]

How incorrect. There are many condo and housing developments that do not allow FHAs etc.

 

[GWV5903]

How incorrect. There are many condo and housing developments that do not allow FHAs etc.

You're dumber than you look...

The only limit on FHA is the loan amount moron...

 

[EdwardBaiamonte]

, our Gov can take a bow for most of this...

yes exactly, our soviet liberals thought they could direct the world from Washington; in this case with massive interference in the housing market.

Thomas Jefferson-
"Were we directed from Washington when to sow and when to reap, we should soon want bread."

 

[Politico]

I stand corrected. You are incorrect and a dick.

 

[EdwardBaiamonte]

I stand corrected. You are incorrect and a dick.

yes exactly, our soviet liberals thought they could direct the world from Washington; in this case with massive interference in the housing market.

Thomas Jefferson-
"Were we directed from Washington when to sow and when to reap, we should soon want bread."

 

[Dad2three]

The Obama Administration is hellbent on repeating history by pressuring banks to loan money to unqualified borrowers...cuz that worked so well in the 2000s.

Yeah, Banks were FORCED to loan money in the 2000's THAT was the problem *shaking head*


Examining the big lie: How the facts of the economic crisis stack up
by Barry Ritholtz

•The boom and bust was global. Proponents of the Big Lie ignore the worldwide nature of the housing boom and bust.

A McKinsey Global Institute report noted “from 2000 through 2007, a remarkable run-up in global home prices occurred.” It is highly unlikely that a simultaneous boom and bust everywhere else in the world was caused by one set of factors (ultra-low rates, securitized AAA-rated subprime, derivatives) but had a different set of causes in the United States. Indeed, this might be the biggest obstacle to pushing the false narrative.

Examining the big lie How the facts of the economic crisis stack up The Big Picture


It is clear to anyone who has studied the financial crisis of 2008 that the private sector’s drive for short-term profit was behind it.

Lest We Forget Why We Had A Financial Crisis - Forbes

 

[Dad2three]

How much was the down payment????

How much did the FHA DPA borrower have at risk???

Is this too much to ask???

I have always known you have no clue, but Google couldn't answer this one for you could it?

The Sub Prime Stated Zero Down Loan made it's way to the market due to FHA DPA and Clintoon gave birth to it in late '96, Fact...

You're drowning in your own shit...

So you are an ignorant dick who can't critically think or be honest. Got it. Dubya's REGULATOR failure was the underlying problem during the Banksters SUBPRIME crisis that was rooted in the mortgage industry "LATE 2004 EXTENDING INTO 2007''

 

[Dad2three]

and all were purchased with money created by the Fed to stimulate the economy, most were bought or guaranteed by Fanny Freddie, and all were further secured by the Greenspan Put,i.e., the continuous printing of money to keep housing prices going up as they always had to, in effect, guarantee there was no downside risk to any party associated with any mortgage!

See why they say dumbto3?

BZZ Wrong, like EVERY post you make, I'm shocked

Wall Street, Not Fannie and Freddie, Led Mortgage Meltdown

Government data show Fannie and Freddie didn’t take the same risks that Wall Street’s mortgage-backed securities machine did. Mortgages financed by Wall Street from 2001 to 2008 were 4½ times more likely to be seriously delinquent than mortgages backed by Fannie and Freddie.

“The idea that they were leading this charge is just absurd,” said Guy Cecala, publisher of Inside Mortgage Finance, an authoritative trade publication. “Fannie and Freddie have always had the tightest underwriting on earth…They were opposite of subprime.”

Wall Street Not Fannie and Freddie Led Mortgage Meltdown - The Daily Beast


No, the GSEs Did Not Cause the Financial Meltdown (but thats just according to the data)

Hey Mayor Bloomberg No the GSEs Did Not Cause the Financial Meltdown but thats just according to the data The Big Picture

 

[Dad2three]

Now this is stupid...

There is a law called the Equal Housing Act...

You cannot tell people you will not sell them a home because they are going to use FHA DPA or Sub Prime loans as their means to purchase...

Instead of trying to find someone to blame, our Gov can take a bow for most of this...

Yeah, becausxe SUBPRIMES were the same as FHA loans *shaking head*

SEE WHERE SUBPRIMES EXPLODED IN LATE 2004?



November 27, 2007

A Snapshot of the Subprime Market



Dollar amount of subprime loans outstanding:

2007 $1.3 trillion

Dollar amount of subprime loans outstanding in 2003: $332 billion

Percentage increase from 2003: 292%


Number of subprime mortgages made in 2005-2006 projected to end in foreclosure:

1 in 5



Proportion of subprime mortgages made from 2004 to 2006 that come with "exploding" adjustable interest rates: 89-93%


Proportion approved without fully documented income: 43-50%


Proportion with no escrow for taxes and insurance: 75%



Proportion of completed foreclosures attributable to adjustable rate loans out of all loans made in 2006 and bundled in subprime mortgage backed securities: 93%


Subprime share of all mortgage originations in 2006: 28%


Subprime share of all mortgage origination in 2003: 8%


MORE FACTS ON DUBYA'S REGULATOR FAILURE HERE BUBBA

FACTS on Dubya s great recession Page 16 US Message Board - Political Discussion Forum