Pre-election numbers that painted a positive housing picture unexpectedly downgraded

[flyboy56]

Special interests groups and lobbyists are the root cause for so much of this nation's woes.

The housing problem is a great example.

Builders were building houses by the thousand and they entered into sweet heart deals with banks to get the instant profits from their inventory.

The builders made out, the buyers with bad credit and no money got a house they did not deserve and the American taxpayers and sensible home buyers wound up paying for those massive profits.

Special interest groups in our society are constantly at work trying to tilt the playing field to their advantage.

It seems like every organized group in America has an agenda for special considerations.

And when the housing market collapsed the banks and their fraudulent CDO loans given to unqualified buyers went under as well. They were hoping for the home owners to fault so they would steel the homes and with a housing bubble in play would have turned around and resold it to more poor suckers.

[Byng]

Sounds like you did her a really good deal.

I didn't to a single thing for my step-daughter my friend outside of getting her what she had worked hard for 10 years and done it the right way. She is a single lady, who works for the State that provides her the job security rather than a high wage, plus she has an 830 credit score that I can only dream of!

[jessup270]

And when the housing market collapsed the banks and their fraudulent CDO loans given to unqualified buyers went under as well. They were hoping for the home owners to fault so they would steel the homes and with a housing bubble in play would have turned around and resold it to more poor suckers.

I think what really happened was the banks have no real interest in keeping 30 year mortgages.

The plan was to package the mortgages into neat tidy bundles and sell them to the investment markets for long term return in pensions and so forth.

The problem was that bundled mortgages contained lots of defective mortgages where the borrowers were not even close to being qualified.

Add in the collapse of the housing bubble and that is why we are in the mess today.

The best way for the housing way to rise again is if rents take off. Apartment rents of around $2,000 plus would really jump start the market.

[flyboy56]

But lots of these renters lost their homes because they could not pay. How will they qualify for a new home now with a bad credit rating? I hear foreigners are mostly buying the value homes because they do quality.

[kudzu]

I should have guessed that the phrase "threw its legs in the air" was not a good one to use on you kudzu!

You're still cool with me, Byng.

Even though the mighty hath fallen...