Toro
Diamond Member
Housing should be in balance by 2013 or 2014.
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Government has burned the free market for mortgage money to the ground, with higher capital reserve requirements and free money from the Fed for banks to play with in the stock market.
There is no upside for banks to make home loans.
Government has burned the free market for mortgage money to the ground, with higher capital reserve requirements and free money from the Fed for banks to play with in the stock market.
There is no upside for banks to make home loans.
I am talking about investors buying up distressed properties and supporting prices before they cave another 20%-80%.
I am talking about the decline of personal home ownership and the growth of a rental RE market.
The banks have little to do with that.
Government has burned the free market for mortgage money to the ground, with higher capital reserve requirements and free money from the Fed for banks to play with in the stock market.
There is no upside for banks to make home loans.
I am talking about investors buying up distressed properties and supporting prices before they cave another 20%-80%.
I am talking about the decline of personal home ownership and the growth of a rental RE market.
The banks have little to do with that.
You're talking about a cash market (investors) and nobody for them to sell them to (home buyers who can't get mortgages).
The rental market is not going to save the housing market.
I hate to burst your bubble, but there are roughly 161.2 million more people in the USA who own a home than in Germany, thats 63% vs 42%, I would venture to guess that cost is the number one factor....
well, whatever you call a "house". I´ve seen these cheap plank shacks standing everywhere between kansas city and vegas when i visited your country.
We just love quality here. And that has always its price. The new heat insulation rules and regulations are very strict but we take our responsibility to sink our CO2 emission. In addition, here are living 350 people on a square mile. In the US, it´s only 45 people on a square mile. We have to live more close here but it works fine. Single-Family houses aren´t this wise when you have to pack 82M people (what´s a quater of the us citizens) on 360K square kilometres (whats 1/26 of the plain of the us) .
I hate to burst your bubble, but there are roughly 161.2 million more people in the USA who own a home than in Germany, thats 63% vs 42%, I would venture to guess that cost is the number one factor....
well, whatever you call a "house". I´ve seen these cheap plank shacks standing everywhere between kansas city and vegas when i visited your country.
We just love quality here. And that has always its price. The new heat insulation rules and regulations are very strict but we take our responsibility to sink our CO2 emission. In addition, here are living 350 people on a square mile. In the US, it´s only 45 people on a square mile. We have to live more close here but it works fine. Single-Family houses aren´t this wise when you have to pack 82M people (what´s a quater of the us citizens) on 360K square kilometres (whats 1/26 of the plain of the us) .
Look, no offense, just the simple facts, more Americans own homes than Germans....
The IRC (International Residential Code) is what most states, county's and municipalities require today and have for over a decade and I doubt your requirements exceed it....
The mentality that only a few should have the ability to own is beyond stupid....
I am talking about investors buying up distressed properties and supporting prices before they cave another 20%-80%.
I am talking about the decline of personal home ownership and the growth of a rental RE market.
The banks have little to do with that.
You're talking about a cash market (investors) and nobody for them to sell them to (home buyers who can't get mortgages).
The rental market is not going to save the housing market.
watch and learn, grasshopper. In 10-20 years I will be proven correct. You may see decisive evidence just in our home ownership stats within another year or two.
But that is hard to sort out since so many unemployed and evicted folks are living with family.
But Americans will not be a nation of homeowners ever again. It's over. The rental market is the future. It's about investments and not credit scores. Mark my words. I won't be wrong.
Not really. This jerk has posted here around 70 times - every one of his/er/it's posts have something negative to say about the USA. Fuck him/her/it. He/her/it is nothing but a troll. Probably not even German.....Well that was fuckin' uncalled for, ya jerk.
I know why I agree with you but why did you choose those dates?Housing should be in balance by 2013 or 2014.
I am talking about investors buying up distressed properties and supporting prices before they cave another 20%-80%.
I am talking about the decline of personal home ownership and the growth of a rental RE market.
The banks have little to do with that.
You're talking about a cash market (investors) and nobody for them to sell them to (home buyers who can't get mortgages).
The rental market is not going to save the housing market.
watch and learn, grasshopper. In 10-20 years I will be proven correct. You may see decisive evidence just in our home ownership stats within another year or two.
But that is hard to sort out since so many unemployed and evicted folks are living with family.
But Americans will not be a nation of homeowners ever again. It's over. The rental market is the future. It's about investments and not credit scores. Mark my words. I won't be wrong.
Isn't that a laugh? That Americans will be content to be lower middle class renters, like the Europeans?
the top 1% of households account for
40% of financial net worth, more than the bottom 95% of households put together.
The cycle says your wrong, it will not take 10 to 20 years to prove it.....
I disagree. People want to own their own homes and always will. It has very little to do with selling and flipping houses, or investing- it is about the financial and emotional benefits of owning a home free and clear. It is about being able to do with your property as you see fit - without getting some "landlord's" approval. You'll never change the basic human instinct to want to own our own piece of land. It is a wonderful thing when there is no rent, or mortgage to pay.
The cycle says your wrong, it will not take 10 to 20 years to prove it.....
I know, I was being conservative.
I think LC is working his courage up for a scary but high percentage move. Like buying when there is blood in the streets there are many moves that you know are low risk but you may have to change pants a couple of times before you can pull the trigger. So I would ignore the nervous hyperbole we all get it to some extent but a 20-25 year decline in homeownership after the 1926 crash did happen.I disagree. People want to own their own homes and always will. It has very little to do with selling and flipping houses, or investing- it is about the financial and emotional benefits of owning a home free and clear. It is about being able to do with your property as you see fit - without getting some "landlord's" approval. You'll never change the basic human instinct to want to own our own piece of land. It is a wonderful thing when there is no rent, or mortgage to pay.
I think LC is working his courage up for a scary but high percentage move. Like buying when there is blood in the streets there are many moves that you know are low risk but you may have to change pants a couple of times before you can pull the trigger. So I would ignore the nervous hyperbole we all get it to some extent but a 20-25 year decline in homeownership after the 1926 crash did happen.I disagree. People want to own their own homes and always will. It has very little to do with selling and flipping houses, or investing- it is about the financial and emotional benefits of owning a home free and clear. It is about being able to do with your property as you see fit - without getting some "landlord's" approval. You'll never change the basic human instinct to want to own our own piece of land. It is a wonderful thing when there is no rent, or mortgage to pay.
The Flamingo casino famously opened late because of construction shortages that lasted until 1950. Between a lack of construction workers and other infrastructure home ownership did not rise to 1925-6 percentages until the mid 50s for most of the country. A lot of people will be scared to buy for a very long time.