How many future home buyers have jobs and credit. Most banks are screwed by the fast buck artists and broke dicks not making payments. Why are these people surprised the government is going to have to buy down all these shit loans and probably evict a bunch of voters.
I know several people who haven't made a house payment in years. Nice racket if you can keep it. Of course we will all end up paying for all these scams and for all these deadbeats, but what else is new.
Of course we can't get any improvement until jobs comeback and most people finish paying off the past debt. Those of us with jobs and credit will be able to pick and choose during the coming boom. Might as well get it while the getting is good as it won't last long. Housing is not affordable to the average working stiff but that will change. (Think manufactured as in Mobile homes.)
Right now the only way most people can buy is with handouts and mortgage gimmicks. Even the crooks in Washington will run out of schemes then it will get interesting.
I figure the boom hits in 6 or 8 months as all that printing press money hits the construction industry as the Dems need to pay off the unions very soon and keep their jobs.
After all that's what politics is all about.
On the home front I'm subscribing to a credit watch at Equifax as I'm gearing up for the future. I didn't do it during the last boom and couldn't get the credit I needed to stay in business. As soon as my truck broke down I was fucked. And being in business is the only way to beat the coming taxes and regulations that are coming. Of course, if we get a bigger bust I can max out and retire to Mexico, heh heh.
Housing and Real Estate: New Home Sales Show Market Continues to Struggle - CNBC
I know several people who haven't made a house payment in years. Nice racket if you can keep it. Of course we will all end up paying for all these scams and for all these deadbeats, but what else is new.
Of course we can't get any improvement until jobs comeback and most people finish paying off the past debt. Those of us with jobs and credit will be able to pick and choose during the coming boom. Might as well get it while the getting is good as it won't last long. Housing is not affordable to the average working stiff but that will change. (Think manufactured as in Mobile homes.)
Right now the only way most people can buy is with handouts and mortgage gimmicks. Even the crooks in Washington will run out of schemes then it will get interesting.
I figure the boom hits in 6 or 8 months as all that printing press money hits the construction industry as the Dems need to pay off the unions very soon and keep their jobs.
After all that's what politics is all about.
On the home front I'm subscribing to a credit watch at Equifax as I'm gearing up for the future. I didn't do it during the last boom and couldn't get the credit I needed to stay in business. As soon as my truck broke down I was fucked. And being in business is the only way to beat the coming taxes and regulations that are coming. Of course, if we get a bigger bust I can max out and retire to Mexico, heh heh.
Housing and Real Estate: New Home Sales Show Market Continues to Struggle - CNBC
The Commerce Department said on Wednesday sales of new single-family homes fell 2.2 percent to a 308,000 unit annual rate from 315,000 units in January. Markets had expected sales to edge up to a 320,000 unit annual pace.
In a second report, the department said orders for long-lasting manufactured goods rose 0.5 percent in February, rising for the third straight month, and January's figures were revised sharply upward to show a 3.9 percent increase.
Markets had expected orders to gain 0.7 percent in February from the previously reported 2.6 percent rise. U.S. stock indexes slipped slightly on the housing report, while Treasury debt prices were steady at lower levels. The U.S. dollar was unchanged.
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