“People simply cannot afford to live anymore,” Rep. Bowman in letter with Elizabeth Warren urging Biden to address the extortionate increase in rents

[BlackSand]

No, just how you spun everything without the entire story.
View attachment 749146

Adjustable-Rate Mortgages​

Among the most potentially lethal of the mortgages offered to subprime borrowers were the interest-only ARM and the payment option ARM, both adjustable-rate mortgages (ARMs). Both of these mortgage types have the borrower making much lower initial payments than would be due under a fixed-rate mortgage. After a period of time, often only two or three years, these ARMs reset. The payments then fluctuate as frequently as monthly, often becoming much larger than the initial payments.
Which the lenders saw as their ticket to unprecedented rewards.
During the run-up in housing prices, the mortgage-backed securities (MBS) market became popular with commercial investors. An MBS is a pool of mortgages grouped into a single security. Investors benefit from the premiums and interest payments on the individual mortgages the security contains.




This market is highly profitable as long as home prices continue to rise and homeowners continue to make their mortgage payments. The risks, however, became all too real as housing prices began to plummet and homeowners began to default on their mortgages in droves. At the time, few people realized how volatile and complicated this secondary mortgage market had become.
Next,

Lehman Brothers Collapses​

So the banks then got their bailout from the US government. So their risk turned out to be minimal!!
Check out the interest rate they had to pay back their loans they received!
Stop only telling a small part of the story.

.

Yeah whatever ... Your spin fell apart 15 years ago ... But you can keep trying to push it.
It all happened because they could not hide the "bad paper" anymore ... And the Government was just as responsible as the banks were.

Didn't work then and won't work now.

.​

 

[Toddsterpatriot]

Go check your banking rules and how they changes took place.

Sounds awful!!! Any links to what rules were changed?

Or is it just something you heard?

 

[Toddsterpatriot]

No, just how you spun everything without the entire story.
View attachment 749146

Adjustable-Rate Mortgages​

Among the most potentially lethal of the mortgages offered to subprime borrowers were the interest-only ARM and the payment option ARM, both adjustable-rate mortgages (ARMs). Both of these mortgage types have the borrower making much lower initial payments than would be due under a fixed-rate mortgage. After a period of time, often only two or three years, these ARMs reset. The payments then fluctuate as frequently as monthly, often becoming much larger than the initial payments.
Which the lenders saw as their ticket to unprecedented rewards.
During the run-up in housing prices, the mortgage-backed securities (MBS) market became popular with commercial investors. An MBS is a pool of mortgages grouped into a single security. Investors benefit from the premiums and interest payments on the individual mortgages the security contains.




This market is highly profitable as long as home prices continue to rise and homeowners continue to make their mortgage payments. The risks, however, became all too real as housing prices began to plummet and homeowners began to default on their mortgages in droves. At the time, few people realized how volatile and complicated this secondary mortgage market had become.
Next,

Lehman Brothers Collapses​

So the banks then got their bailout from the US government. So their risk turned out to be minimal!!
Check out the interest rate they had to pay back their loans they received!
Stop only telling a small part of the story.

Count on government to start a bubble.

How did short term loans from the government, paid back at a profit to the US Treasury,
make up for all the losses on these high risk mortgages?

 

[boilermaker55]

When faced with facts, just like the rest of the teabagging/tRUMPsters, there is no real counterpoint but denial.
Keep it up Eunuch boys!

.

Yeah whatever ... Your spin fell apart 15 years ago ... But you can keep trying to push it.
It all happened because they could not hide the "bad paper" anymore ... And the Government was just as responsible as the banks were.

Didn't work then and won't work now.

.​

 

[boilermaker55]

When faced with facts, just like the rest of the teabagging/tRUMPsters, there is no real counterpoint but denial.
Keep it up Eunuch boys!

View attachment 749163

Count on government to start a bubble.

View attachment 749164
How did short term loans from the government, paid back at a profit to the US Treasury,
make up for all the losses on these high risk mortgages?

 

[BlackSand]

When faced with facts, just like the rest of the teabagging/tRUMPsters, there is no real counterpoint but denial.
Keep it up Eunuch boys!

.

Well ... That kind of leaves me out of your mix ... But whatever that was supposed to mean ... You are still not spinning it.
Try again ... Or save yourself the trouble and stop trying ... It already failed ... 15 years ago ...

.​

 

[Toddsterpatriot]

When faced with facts, just like the rest of the teabagging/tRUMPsters, there is no real counterpoint but denial.
Keep it up Eunuch boys!

Run away. Whiney twat.

 

[WTH_Progs?]

Nope, not a lie. Just like the cultist you are , little tRumpian boy, you would not the truth if it kick you in the nuts.
If you still have any!
Eunuch boy

Let it be known boilermaker is not just a foolish leftist (e.g. intellectually dishonest) but he's an blatant liar too. The proof is the accusation he dreamed up that cannot be found.

 

[WEATHER53]

Cut out hair braids, nails and skull caps (lice in prision ) and pay your rent

 

[Meister]

I'm living better than I have in a decade...

Of course you are, it wasn't that long ago when you told me that you've gone back to work, Moonglow.

 

[WEATHER53]

We gotta hide from the air, everyone should have equal stuff paid for by others, the planet is about to eat us, and people can’t afford to live
Lib 101 optimism

 

[RhodyPatriot]

Grow yer own...

You really are a fucking asshole.

 

[RhodyPatriot]

I'm living better than I have in a decade...

You also prove how the Democrats care oh so much about their fellow citizens.

Not like those selfish, boorish, uncaring Trump people.

I mean, you're just better than them......really.

 

[RhodyPatriot]

Quite the opposite Moonglow, care to see proof?

I've tried that, he's impervious to it.

 

[Dadoalex]

Bowman and tenant advocates argue that modest declines in rents – the national median fell 0.8 percent in December – barely make a dent in tenants’ expenses after the eye-popping gains of the last few years.

“The Rent Is Too High”: Warren, Bowman Ask Biden to Fight Crushing Housing Costs

The lawmakers warn that homelessness will continue to worsen as long as housing prices rise unmitigated.

truthout.org

This points to the main problem with capitalism.
As a system it ensures, eventually, there will be poor and there will be rich but nothing in between.
Capitalism is the ultimate pyramid scheme.

In Florida there was no event that drove these increases.
People working from home wanted to work in Florida, remotely.
This drives up demand which drives price
But, the people living there now are near the bottom of the pay scale
so a 50% increase in rent equals homelessness.

Poor and rich.

 

[Devils_Advocate]

Grow yer own...

Like I told the right when they said that, no!

 

[Devils_Advocate]

The rich are taking everything from the poor and middle class. They're thiefs and the government needs to take action to make sure that we don't become a third world country where there's only a very poor and a small super rich elite. Rents should be kept low and government should step in to build government housing if need be.

Chicago did that and boy you were not alive then, well then you should learn about it!

 

[Nova78]

Grow yer own...

So your answer to the dipshit we have as president is to grow grapes.

 

[Nova78]

I'm living better than I have in a decade...

On Biden welfare?

 

[Moonglow]

On Biden welfare?

No, I got to go back to work after a decade of surgeries.