Obama 7 - now what?

[Kepler]

Re: Obama 7 - now what?

Oh, it's a political sacred cow, no doubt about that.

Doesn't make it a good policy.

I agree completely. I can be convinced, but all the Great McMansioned are going to see is the loss of a perk. To be sort of fair to them, it is a perk that factored into their purchase.

Grandfather it, phase only down to $300k, and pair it with uncapping payroll taxes and you might sway just enough liberals to counter the massive conservative revolt.

 

[blockski]

Re: Obama 7 - now what?

I agree completely. I can be convinced, but all the Great McMansioned are going to see is the loss of a perk. To be sort of fair to them, it is a perk that factored into their purchase.

grandfather it and pair it with uncapping payroll taxes and you might sway just enough liberals to counter the massive conservative revolt.

Oh yeah, it would have to be coupled with a number of other things to phase it out over time - like first time buyer tax credits, rent deductions, or something like that.

 

[Kepler]

Re: Obama 7 - now what?

Oh yeah, it would have to be coupled with a number of other things to phase it out over time - like first time buyer tax credits, rent deductions, or something like that.

I did find it funny that one of the columnists talked about inelastic markets like NYC as an argument against the deduction. Dude, the other 99.99% of us live in elastic markets. We're not going to craft national policy because of a bunch of ****wit faculty members on the west side.

But I'm sure everybody he knows has that problem.

 

[blockski]

Re: Obama 7 - now what?

I did find it funny that one of the columnists talked about inelastic markets like NYC as an argument against the deduction. Dude, the other 99.99% of us live in elastic markets. We're not going to craft national policy because of a bunch of ****wit faculty members on the west side.

No, but it's one of the many ways in which our policies (everything from housing finance to transportation) have a suburban bias. As we're trying to loosen our dependence on oil, urban living ought to be an option. Those inelastic markets sure show that there's just a bit of demand out there.

It also goes to the point that buying a house, as a matter of course, is just the wrong idea. It's not just NYC, too - in many urban markets, renting makes far more financial sense. You want people to be able to enter those housing markets, regardless of if they enter as a renter or an owner.

The larger point is that the world we live in isn't some magical manifestation of the market, it's been deliberately and purposefully shaped by public policies over many years. If we're really going to address the core issues in our economy (and beyond), we're going to have to address some of these policies.

 

[Kepler]

Re: Obama 7 - now what?

The larger point is that the world we live in isn't some magical manifestation of the market, it's been deliberately and purposefully shaped by public policies over many years. If we're really going to address the core issues in our economy (and beyond), we're going to have to address some of these policies.

Jesus, don't tell the right. That is hardcore heresy. The best thing to do is always to do nothing -- the Invisible hand God will sort it out.

If the cities ever really come back a lot of our current problems will at least be ameliorated. The main social problem of the last 50 years was white flight. If we're all in the same bathwater conservatives will start ponying up some cash for services and liberals will start holding the underclass accountable, not to mention that cities spread culture and are the great engine of innovation and art.

Of course, some other set of problems will then make today's look like child's play. Epidemics love cities. So do terrorists.

 

[blockski]

Re: Obama 7 - now what?

Jesus, don't tell the right. That is hardcore heresy. The best thing to do is always to do nothing -- the Invisible hand God will sort it out.

If the cities ever really come back a lot of our current problems will at least be ameliorated. The main social problem of the last 50 years was white flight. If we're all in the same bathwater conservatives will start ponying up some cash for services and liberals will start holding the underclass accountable, not to mention that cities spread culture and are the great engine of innovation and art.

Of course, some other set of problems will then make today's look like child's play. Epidemics love cities. So do terrorists.

There is no 'if,' cities (more specifically, cores of already robust metropolitan areas) are already on the comeback. If anyone who was in DC for the FF was here 10 years ago, there shouldn't be any question.

 

[geezer]

Re: Obama 7 - now what?

The larger point is that the world we live in isn't some magical manifestation of the market, it's been deliberately and purposefully shaped by public policies over many years. If we're really going to address the core issues in our economy (and beyond), we're going to have to address some of these policies.

Jesus, don't tell the right. That is hardcore heresy.

Isn't that exactly what the right has been saying/complaining about for 60 years? Seriously.

 

[Patman]

Re: Obama 7 - now what?

The larger point is that the world we live in isn't some magical manifestation of the market, it's been deliberately and purposefully shaped by public policies over many years. If we're really going to address the core issues in our economy (and beyond), we're going to have to address some of these policies.

About time gov't gets the blame for the mess we're in. See boys, there's more than one way to read this.

 

[Billy Blanks]

Re: Obama 7 - now what?

I was talking to a realtor friend last night here in Arizona, and he was telling me that 92 percent of loans going out the door now are FHA loans. That's primarily because with FHA loans you only have to have 3.5 percent down. He also said that as of today in Arizona, there will be no non-FHA loans going out without a minimum of 20 percent downpayment, no exceptions. And given that FHA loans only go up to $350,000, folks who are trying to sell houses above $350,000 are in bad shape, with very few buyers out there with that kind of cash sitting around.

He was also saying that the way appraisals work has totally changed in the last 6 months, with there being some big government clearinghouse for appraisers now, so the appraiser has no direct contact with the realtor, lender, or anyone else.

Bob-

Speaking as someone in the business on the lender side, I have to disagree with your realtor friend. We, along with many other banks are still doing 5% and 10% down (depending on your credit score) for conventional fannie/freddie loans. FNMA even offers some 3% and 5% down loans on homes up to $417,000.

FHA loans were only about 10% of the marketshare from 2000-2007. Currently they are taking up about 75% of the marketshare. Veterans of the military and people looking for a USDA RHD loan can get 100% financing.

The appraisals are now ordered through what is called the HVCC. This was established for CONVENTIONAL loans to add some integrity to the process. Appraisers were being pressured by realtors and lenders a like to inflate the values of these homes. FHA and USDA appraisals are still ordered directly from the individual appraiser. VA appraisals are ordered directly from the VA office in DC.

I would be happy to chat with your friend to lend some insight on the current climate here in AZ from a Lender's standpoint.

 

[rufus]

Re: Obama 7 - now what?

That's the second part of my essay of why America has gone downhill.

The price of college and graduate school has radically increased way past the rate of inflation.

It's a paradox, unless you go to college you probably can't get a good job these days. But if you don't go to a good school you usually have trouble getting a good job. And the good schools are usually very expensive and you spend half of your life just trying to pay those student loans off. And unless you go to a good state school, you're not getting that good job AND avoiding paying for the school for life.

You need to go to college to get a good job, but even if you get a good job you spend most of the rest of your life paying for it.

Tin foil hat conspiracists would claim that this is an intentional process whereby the only people who could afford higher education are the children of the wealthy, thus perpetuating their place at the top of the socio-economic-political ladder, while everyone else is consigned to work as their menial serfs.

But that's just too way out there to be taken seriously.

 

[joecct]

Re: Obama 7 - now what?

Tin foil hat conspiracists would claim that this is an intentional process whereby the only people who could afford higher education are the children of the wealthy, thus perpetuating their place at the top of the socio-economic-political ladder, while everyone else is consigned to work as their menial serfs.

But that's just too way out there to be taken seriously.

Did you get that in a mud pit when approached by a King?

 

[Patman]

Re: Obama 7 - now what?

Tin foil hat conspiracists would claim that this is an intentional process whereby the only people who could afford higher education are the children of the wealthy, thus perpetuating their place at the top of the socio-economic-political ladder, while everyone else is consigned to work as their menial serfs.

But that's just too way out there to be taken seriously.

tin foilers would claim its intentional... real worlders would say that's just the way people work when they network. Top structures isn't an mechanism of putting the middle class down... they're networks of friendships and alliances where meritocracy fails and instead a web of micro-alliances are made.

Its not a ladder, its a web.

 

[mookie1995]

Re: Obama 7 - now what?

There is no 'if,' cities (more specifically, cores of already robust metropolitan areas) are already on the comeback. If anyone who was in DC for the FF was here 10 years ago, there shouldn't be any question.

me, with 4 kids (11,7,5,1), ain't livin' in no city.

now my girlfriend, she can keep an apartment there

 

[eaglehockeyrules]

Re: Obama 7 - now what?

ScottM,

Correct me if I am wrong, but isn't your picture the skull and cross bones of the NAZI Schutzstaffel (SS)? I take it you are a neo-NAZI and not of a Jewish background; it is quite an offensive symbol. I am curious, but do you have a "Stars-n-Bars" CSA flag flying at home?

E-

 

[Kepler]

Re: Obama 7 - now what?

me, with 4 kids (11,7,5,1), ain't livin' in no city.

now my girlfriend, she can keep an apartment there

I'd think you'd just want an empty apartment there to get away.

 

[dropthatpuck]

Re: Obama 7 - now what?

ScottM,

Correct me if I am wrong, but isn't your picture the skull and cross bones of the NAZI Schutzstaffel (SS)? I take it you are a neo-NAZI and not of a Jewish background; it is quite an offensive symbol. I am curious, but do you have a "Stars-n-Bars" CSA flag flying at home?

E-

So, tell us what it's like being the definitive source on how to be a complete jack a s s.

 

[5mn_Major]

Re: Obama 7 - now what?

I typically enjoy my stop at Fox news webpage...its always a journey straight into the chasm of politics. Now the headline is how a whopping 3/4 of Obama's trips have been to states he won during the election.

Whereas Fox is surprised its as high as 3/4...I'm surprised that states he won don't include some 90% or so. Can you really take a trip every other week to one of the following red states? After my 20th trip to Texas, I think I'd go insane.

It is Fox afterall...

 

[Plante26]

Re: Obama 7 - now what?

There is no 'if,' cities (more specifically, cores of already robust metropolitan areas) are already on the comeback. If anyone who was in DC for the FF was here 10 years ago, there shouldn't be any question.

Cities are on the comeback due to private real estate development, not government intervention. Mostly due to TIF-type legislation and other tax-based subsidies.

Of course, this isn't the game plan for the Obama Admin. Higher taxes are in order, not lower taxes.

 

[LynahFan]

Re: Obama 7 - now what?

Cities are on the comeback due to private real estate development, not government intervention. Mostly due to TIF-type legislation and other tax-based subsidies.

This could be one of the unintentionally funniest things I've ever read on the board. Can you 'splain to me exactly how a tax subsidy is not "government intervention?"

 

[Rover]

Re: Obama 7 - now what?

This could be one of the unintentionally funniest things I've ever read on the board. Can you 'splain to me exactly how a tax subsidy is not "government intervention?"

Uhhhh....cuz Rush Limbah sed so on his radio show?