In response to:

Housing Recovery, Real or Fake?

Hawker 1 Wrote: Feb 09, 2013 7:44 AM
What is sad is the media running out the experts on real estate and the experts are the real estate agents . If I am selling something then of course I am going to claim that something is getting harder to come by so you had better get going and get some of what I am selling because as the expert of what I am selling I am telling you the price is going to go up so get it now while you can afford it. What a joke but I am not laughing .
Fritz65 Wrote: Feb 09, 2013 9:52 AM
Hawker 1 please wait and see what happens. I have these faint memories of trying to buy and sell a home when there were no jobs, and interest rates were in double digits. But you probably believe history doesn't repeat, so I wish you the same experience. Please let me know how that works out for you. By the way, if you need a tooth pulled by all means see a proctologist.

 

Let’s be clear: The housing industry is one of the most regulated and manipulated sectors of the economy. The seeds of the financial meltdown were planted by social engineering by liberals in the Clinton administration, mandating loans by quota based upon income instead of prudent lending standards.

It became so bad that when the current anti-gun zealot Governor Cuomo of New York as head of HUD under Clinton ordered welfare and unemployment be counted as ‘income’ to qualify for a mortgage. The goal of home ownership by all Americans meant radical changes to prudent lending practices had...