Thank you obama economy. (sarcasm to ensue)

Discussion in 'Economy' started by Lovebears65, May 30, 2012.

  1. Lovebears65
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    Lovebears65 Gold Member

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    Just got our yearly tax appraisel my house just deappreciated almost 40k in one year. And since I am not a dead beat homeowner I found out we can't use any programs Obama put out That is only for people behind in their mortgage. Same thing happened to my friend in Jacksonville except her house is worth 100k less. I am not under water yet. But if it continues this way we soon will be:doubt:
     
  2. itfitzme
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    itfitzme VIP Member

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    It is called the free market. Supply and demand dictates the price of single family homes. The question is, why are you blaming the government for a free market problem?

    Why should you get government assistance for the fact that your property didn't gain as much equity as you want? Your not due something from the government. There is no guarantee that housing value will continue upward. If you've made the effort to look at the historical median single family home prices, they have cycled repeatedly.

    Here is an idea, sell your house now before you go underwater on your mortgage. Your saying, "if it continues this way we soon will be" means you are well aware of the market and the risks. If you end up underwater, that's your problem, not the governments.
     
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  3. midcan5
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    midcan5 liberal / progressive

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    The housing bubble was like all bubbles and all eventual collapses, humans thought the price of Tulips would never go down, always up. Liars and cheats there were, but willing customers and 'venture' citizens too. In this crash, and maybe every crash, mirrors should be provided so the real cause can be easily seen.
     
  4. TakeAStepBack
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    TakeAStepBack Gold Member

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    You could not possibly be any more dead wrong on this assessment. There is nothing "free" about the housing market. Artificially low interest rates coming out of the dotcom burst, along with a host of government "ownership" programs and incentives, pumped up the value of homes immensely. Which is why now, after the pop, and the govt. continues the same inflationary/credit expansion policies, home prices are still falling.

    Instead of a swift correction they tried to prop it up and that is why it is dragging out.
     
  5. Katzndogz
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    Katzndogz Diamond Member

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    How do you feel about your home?

    My son's home lost more than half its value since obama was crowned. He is definitely under water. But, it's his home, he made the payments when he bought it and he's making the payments now. It might be harder due to the incredible rise in prices that obama caused but they are making it and he still has his home.
     
  6. edthecynic
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    edthecynic Censored for Cynicism

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    First of all, you should be thankful you don't live in NJ. Christie set a property tax increase limit of 3%, so the GOP mayors simply DOUBLED the tax appraisal value of the house to get around Christie's limit. So your tax appraisal going down means you pay LESS property tax.
    Thank you President Obama.

    And secondly, that bullshit about Obama's programs are only for people behind on their mortgage is nothing more than pure GOP CON$ervoFascist lies, as usual. But you knew that already!!!

    Obama to Announce Refi Help for Underwater Homeowners | AOL Real Estate

    An administration official said the housing initiative will help homeowners with little or no equity in their homes refinance by cutting the cost of doing so and removing caps for deeply underwater borrowers. The new rules apply to homeowners with federally guaranteed mortgages who are current on their payments.
     
  7. itfitzme
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    itfitzme VIP Member

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    oh bullshit. The value of homes, prior to 2007, was pumped up by demand and speculation. The mass of sub-prime loans was to speculators which is, by the way, what sub-prime loans are for. It wasn't, as you want to believe, a host of government ownership programs.
     
  8. itfitzme
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    itfitzme VIP Member

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    Good for you. That is exactly where we start, thankful recognition of what we do have and personal responsibility for what we can do. Short term stable markets would be great. And I feel for him that he finds himself underwater. There are limits to what we can do. Real estate is a long term investment and my best wishes that he should be able to stay in it for the long term.

    That said, what "the incredible rise in prices" are you talking about? There is no incredible rise in prices. The rate of inflation has been at it's lowest in decades. Ignoring the massive deflation during the great recession, it has continued to be below 3% and the trend is towards 2.5%. In 2009, the annual rate was 2.72%. For 2010, it was 1.5%. And for 2011, it came in at 2.96%. Historically, the target has been about 3-5% and the annual rate for all years since 1960 has been about 4%.

    It is, as well, the Federal Reserve that manages inflation by managing the money supply. Inflation is a monetary issue, not a fiscal policy issue. Neither the legislative or executive branches have control over the rate of inflation. Inflation (and deflation) is simply understood by the equation of exchange, M * V = P * Q. Price (P), along with output (Q), is a function of the supply of money (M). It is fascinatingly that simple, yet in the details of a national economy, it gets pretty complicated real fast as the markets also have a huge effect depending on what they decide to do with that money.

    Never the less, a) Obama, or any president, has no control over aggregate prices b) it is the Federal Reserve that does by managing the money supply c) the rate of inflation has been reasonably stable, below 3%, averaging about 2.75% since the recession ended, and showing a long term trend of 2% since.
     
  9. Truthmatters
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    Truthmatters BANNED

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    lovie is so dumb and disgruntled in the brain that she doesnt even know what she is talking about.

    She loves thatfree market shit and republicans.

    they both work to screw her and she blames Obama.

    damn shes dense
     
  10. starcraftzzz
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    starcraftzzz Senior Member

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    Jesus right wingers are so stupid that they think polices that help people afford homes that have been in place for 50 years caused the housing bubble. Next we are going to hear how food stamps caused the dot come bubble or some other stupid shit.
    Futhermore dumbass low interest rate did not make banks give out fraudulent and shitty loans they did that on their own
    why are you such a clueless retard?
     

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