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Thread: More Than 40 Pct. Leave Obama Mortgage-Aid Program

  1. #11
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    There are still some places where real-estate is, in my opinion, overpriced, but I think the worst is over. 10 years ago I could go into a neighborhood and see houses that were worth 10 times the annual salary of the people living there, and that's just unsustainable. Now, it's closer to reason, the house values are much closer to 2 1/2 to 3 times the annual salary of the people living there, and that's sustainable. Yeah, some people got it in the shorts regarding housing but all I have to say to that is caveat emptor. You shouldn't sign on the dotted line if you haven't done your research, especially not for something as expensive as a house.

  2. #12
    King Obama is a traitor! michaelr's Avatar
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    Quote Originally Posted by Bourne View Post
    Well, Mike hopes for the financial failure of this great country and he cheers on hardship while I see just the opposite. Opportunity.
    I see were stuck on the fact that I will drive home the truth about the economy, you will insist I am cheerleading. It is about right for some i guess.

    While I got you, you previous post is inaccurate, nothing new, but I guess I must point out that the second quarter of this year, home foreclosures set a new record high.

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    Quote Originally Posted by michaelr View Post
    I stand corrected, thank you, the others just lost the battle, my bad.
    well no, i think the remaining 30% are still waiting to get into the program. or some of them maybe have been denied outright i guess, but the article doesn't say. but of course, not having information has never stopped you from making assumptions in the past!

  4. #14
    King Obama is a traitor! michaelr's Avatar
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    Quote Originally Posted by nickcuse View Post
    well no, i think the remaining 30% are still waiting to get into the program. or some of them maybe have been denied outright i guess, but the article doesn't say. but of course, not having information has never stopped you from making assumptions in the past!
    hahahaha, I have a thread here somewhere that depicts one the failures of this program, and as I said, the bank foreclosed due to the time lapse. Have fun with that now.

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    Quote Originally Posted by michaelr View Post
    I see were stuck on the fact that I will drive home the truth about the economy, you will insist I am cheerleading. It is about right for some i guess.

    While I got you, you previous post is inaccurate, nothing new, but I guess I must point out that the second quarter of this year, home foreclosures set a new record high.
    none of what you're saying disputes what bourne said about it being a buyers market and good time to invest. what about that statement are you ACTUALLY disagreeing with? even if the market goes lower, its STILL a good time to invest. you don't have to time it perfectly.

  6. #16
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    Quote Originally Posted by michaelr View Post
    hahahaha, I have a thread here somewhere that depicts one the failures of this program, and as I said, the bank foreclosed due to the time lapse. Have fun with that now.
    yes, i'm sure that happened to some of the people, but not ALL of them. if that were the case, then the program would be over, as there'd be no one left to get in. but the program isn't over, so clearly there are still some people waiting to get in.

    little common sense mike...

  7. #17
    King Obama is a traitor! michaelr's Avatar
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    Quote Originally Posted by michiganFats View Post
    There are still some places where real-estate is, in my opinion, overpriced, but I think the worst is over. 10 years ago I could go into a neighborhood and see houses that were worth 10 times the annual salary of the people living there, and that's just unsustainable. Now, it's closer to reason, the house values are much closer to 2 1/2 to 3 times the annual salary of the people living there, and that's sustainable. Yeah, some people got it in the shorts regarding housing but all I have to say to that is caveat emptor. You shouldn't sign on the dotted line if you haven't done your research, especially not for something as expensive as a house.
    I agree and that is the bubble, but the bubble was created on a false pretense. Everyone who thinks knew that free trade would ruin the job market. Americans I fear do not like thinking too much. The government told them all would be fine, and go ahead and take that second or third mortgage. As they did this, then keeping up with the Jones became a daily event. Well little did they know that the Joneses were in the same boat they were, overextended. Well the job market collapsed, and available jobs were in the service sector. Again the government said that would be fine because you can now buy an imported DVD player for 50 bucks. Well soon it catches up, it was not fine to over extend, to work service sector jobs as they are shit on pay, and people quit spending causing a deflation in the economy. Of course there are other factors. Savings used to pay 5% compounded, not it pays .005% if you hunt for a good rate. Interest on those loans went up, as they did on the mortgages. Add this and the devalued dollar all up, and you have the makings of the perfect storm...all fore seen, but those seeing it were ridiculed, and life went on. Well it is getting close to the end for the dollar and the economy. The government is the only one hiring, and local governments and states are firing, and going broke. Infrastructure is being neglected if not just done away with, and peoples retirements are history.

    Things are getting heated up, and the most vocal are considered racist...like I said, Americans really would rather not think, but they will react.

  8. #18
    Senior Member Bourne's Avatar
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    Quote Originally Posted by michaelr View Post
    I see were stuck on the fact that I will drive home the truth about the economy, you will insist I am cheerleading. It is about right for some i guess.
    I never used the word cheerleading but as they say, if the shoe fits...

    Face it Mike, you hope for this country's failure so that you can say "I told you so, Ron Paul was the man." Well, it's just not going to happen Mike.

    Quote Originally Posted by michaelr View Post
    While I got you, you previous post is inaccurate, nothing new, but I guess I must point out that the second quarter of this year, home foreclosures set a new record high.
    In the second quarter but now they're slowing.

    Regardless, opportunity knocks and I'm profiting.

  9. #19
    King Obama is a traitor! michaelr's Avatar
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    Quote Originally Posted by Bourne View Post
    I never used the word cheerleading but as they say, if the shoe fits...

    Face it Mike, you hope for this country's failure so that you can say "I told you so, Ron Paul was the man." Well, it's just not going to happen Mike.



    In the second quarter but now they're slowing.

    Regardless, opportunity knocks and I'm profiting.
    To suggest that foreclosures are slowing before the numbers are in is, well not real bright. I do know for a fact that starts are again hitting a new low, so prices are still dropping.

    I would rather see the economy do well, but we ain't getting that. Paul was right, and I do not need another two years of Obamanomics to prove that.

  10. #20
    Senior Member Bourne's Avatar
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    Quote Originally Posted by michaelr View Post
    To suggest that foreclosures are slowing before the numbers are in is, well not real bright. I do know for a fact that starts are again hitting a new low, so prices are still dropping.
    Banks and brokers do it all of the time.

    Quote Originally Posted by michaelr View Post
    I would rather see the economy do well, but we ain't getting that. Paul was right, and I do not need another two years of Obamanomics to prove that.
    Oh, nonsense Mike. Every day, all day, you point out the either imagined or outright false reasons that the economy won't recover and then you throw in your "I'm right and your nuts" caveat. If you can't see quite a few others can see that you're hoping that America fails. Well, it's just not going to happen.

    Ron Paul is an effiminate, ineffective hypocrite who couldn't persuade enough people that he was right so that he could win even one primary. He defines the word loser.

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