Here We Go Again (Housing Bust, Anyone?)

Started by Solar, February 01, 2013, 12:27:24 PM

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supsalemgr

Quote from: taxed on February 08, 2013, 01:51:56 PM


I think Vern took the typical lib approach. His use of "abuse" is diversion from companies knowing the laws and working them to their benefit. If it was not illegal there is nothing wrong with it. The law allowed the lenders to shift the risk to the feds.
"If you can't run with the big dawgs, stay on the porch!"

rich_t


taxed

Quote from: supsalemgr on February 08, 2013, 03:03:36 PM
I think Vern took the typical lib approach. His use of "abuse" is diversion from companies knowing the laws and working them to their benefit. If it was not illegal there is nothing wrong with it. The law allowed the lenders to shift the risk to the feds.

Totally.  This is the same genius who said Marx and Friedman have the same philosophy.
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kramarat

Quote from: rich_t on February 08, 2013, 03:07:14 PM
I thought that Vern was given the boot.

I think he was; it doesn't hurt to study the tactics though. There will be others. :wink:

At least Vern was honest enough, (from the start), that he was only here to crap on the party. Too bad; he could have learned something.

Solar

Quote from: rich_t on February 08, 2013, 03:07:14 PM
I thought that Vern was given the boot.
Taxed gave him the ax for simply not following etiquette when quoting and not answering questions when posed.
Typical lib, no respect for standards or common courtesy.

You don't come to a forum and think you can command the debate, reciprocation is key when trying to find common ground, he was in no way interested in an opposing view, or truth for that matter, he had an agenda, "It's All Bush's Fault", that shit was tired the first year...
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kramarat

Quote from: Solar on February 08, 2013, 04:23:00 PM
Taxed gave him the ax for simply not following etiquette when quoting and not answering questions when posed.
Typical lib, no respect for standards or common courtesy.

You don't come to a forum and think you can command the debate, reciprocation is key when trying to find common ground, he was in no way interested in an opposing view, or truth for that matter, he had an agenda, "It's All Bush's Fault", that shit was tired the first year...

I've actually thought about hitting a lib forum en masse. We could change our names to protect the guilty.

I'm probably just a bully, but I think it would be fun. :thumbup:

Solar

Quote from: kramarat on February 08, 2013, 04:30:45 PM
I've actually thought about hitting a lib forum en masse. We could change our names to protect the guilty.

I'm probably just a bully, but I think it would be fun. :thumbup:
Nothing like beating your head against the wall. They have no interest in facts, just emotional BS.
What's the definition of insanity? :laugh:
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kramarat

Quote from: Solar on February 08, 2013, 05:07:24 PM
Nothing like beating your head against the wall. They have no interest in facts, just emotional BS.
What's the definition of insanity? :laugh:

I think I just enjoy messing with libs. I'll try to give an example, if I can post the link from FB:

Here's the link from one of my lib friends............

http://jessicavalenti.tumblr.com/post/42612393836/shhhh-no-one-tell-fox-news-that-the-wedding-kiss


Here's my comment from the comment section:

Which one is the man?

Somebody send me some footage of the wedding night consummation, and I might get interested. ;-)

Girl love is awesome!!!!!



Did I mention that libs tend to hate my guts? :biggrin:

Cryptic Bert

Quote from: kramarat on February 08, 2013, 02:33:09 PM
I didn't understand that either.

I think that the vast majority of business owners are honest. The rip off artists don't last long, and the truly lawless bad apples should be busted and thrown in jail.

Those that do last usually are protected by and connected to the government or at the very least are able to take advantage of people because the government created the atmosphere. The housing bubble is a prime example.

kramarat

Quote from: The Boo Man... on February 08, 2013, 06:42:55 PM
Those that do last usually are protected by and connected to the government or at the very least are able to take advantage of people because the government created the atmosphere. The housing bubble is a prime example.

I can't come up with one problem that we are experiencing, that doesn't lead back to government.

three_rights

Taxed, Solar.  If you two are not in politics, you should be.

Sure, I'll explain. 

In the 1980's the banks were allowed to (1) base the value of the collateral (the mortgaged land) upon its improved value for the purpose of determining their Tier I capital reserves and  (2) hold equity positions in real estate development projects and to count the theoretical sell out value of a proposed construction project towards their Tier I capital Reserves, and (3) incorporate soft costs into a land loan.

Loan Closings in these days, meant walking away from closing with $0 in cash equity and more money in your pocket than you had when you started. This system was perfectly legal, but it also caused the collapse of the S&L's and gave rise to the Resolution Trust.

In the late 1990's to 2004, the rules used to calculate risk based capital reserves were relaxed once again to allow Developers to not have any of cash equity in their real estate deals, and once again the Banks Collapsed.

When I said "myself included", I meant I personally benefited from both of these systems. The only difference between the 80% of the projects I have taken from zoning to sell out and the 20% were I defaulted, and my investors lost all of their money is that amount of money that was made. 


I completely agree with Capital Gains Taxes, however I don't think that it should be theoretically possible for a person to declare winning the Power Ball as a capital gain,and yeah from my perspective the the only difference between having power ball winnings from being taxed at 34% instead of 15% is a little bit of foresight.




taxed

Quote from: three_rights on February 12, 2013, 12:56:06 PM
Taxed, Solar.  If you two are not in politics, you should be.

Sure, I'll explain. 

In the 1980's the banks were allowed to (1) base the value of the collateral (the mortgaged land) upon its improved value for the purpose of determining their Tier I capital reserves and  (2) hold equity positions in real estate development projects and to count the theoretical sell out value of a proposed construction project towards their Tier I capital Reserves, and (3) incorporate soft costs into a land loan.

Loan Closings in these days, meant walking away from closing with $0 in cash equity and more money in your pocket than you had when you started. This system was perfectly legal, but it also caused the collapse of the S&L's and gave rise to the Resolution Trust.

In the late 1990's to 2004, the rules used to calculate risk based capital reserves were relaxed once again to allow Developers to not have any of cash equity in their real estate deals, and once again the Banks Collapsed.

Thanks for explaining, but you still didn't explain.  I don't understand the "including myself" part of your post.
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Solar

OK, I do agree, we should be in office so we could clean this mess up.
As I stated before, both party's screwed this up going back to the 70s and beyond.
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walkstall

Quote from: Solar on February 12, 2013, 02:58:11 PM
OK, I do agree, we should be in office so we could clean this mess up.
As I stated before, both party's screwed this up going back to the 70s and beyond.

As I remember it was in the 30s and beyond. 
A politician thinks of the next election. A statesman, of the next generation.- James Freeman Clarke

Always remember "Feelings Aren't Facts."

Solar

Quote from: walkstall on February 12, 2013, 03:09:39 PM
As I remember it was in the 30s and beyond.
Yes, but I start this scenario with going off the gold standard under Nixon.
But yes, it started long before, FDR is the bigger ass in the mix, Teddy before him.
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