- This topic has 31 replies, 10 voices, and was last updated 17 years, 7 months ago by
.
-
Posts
-
http://www.sfgate.com/cgi-bin/article.cgi?…/BU7O166J6Q.DTL
So we all know the rich buy property, it’s a solid investment and usually makes for good supplemental income through rentals and the like. We also know the rich are the only ones not really having issues actually paying their bills when it comes to mortgage payments.
Now why would Obama go and remove the only monetary insentive to actually take out a loan on a house? The existing system phased the benefit out for the “rich” to make the benefit gradually less than those the “poor” and “middle class” get but now the “rich” get absolutely nothing.
If the rich quit buying property this whole mortgage crisis thing isn’t going to get any better. I would think Obama would be doing everything in his power to encourage purchase of distressed and forclosed property, not eliminating the tax incentive for the most able to do so.
MasterP said:
http://www.sfgate.com/cgi-bin/article.cgi?…/BU7O166J6Q.DTLSo we all know the rich buy property, it’s a solid investment and usually makes for good supplemental income through rentals and the like. We also know the rich are the only ones not really having issues actually paying their bills when it comes to mortgage payments.
Now why would Obama go and remove the only monetary insentive to actually take out a loan on a house? The existing system phased the benefit out for the “rich” to make the benefit gradually less than those the “poor” and “middle class” get but now the “rich” get absolutely nothing.
If the rich quit buying property this whole mortgage crisis thing isn’t going to get any better. I would think Obama would be doing everything in his power to encourage purchase of distressed and forclosed property, not eliminating the tax incentive for the most able to do so.
The article speaks for itself. Just depends what you take from it. You got potential Housing Catastrophe part DUR. I got more money for health care, renewable energy, and improvement in education:
“For the people in that income strata … the dollar magnitude is not that great,” said Richard Pon, senior tax manager at Lautze & Lautze in San Francisco. “But you will have a lot of irate taxpayers complaining that their deductions are capped.”
Christopher Thornberg, principal at Los Angeles research firm Beacon Economics, said the reduced deductions could slightly weigh down home prices, by 2 to 3 percent, but only on higher-priced properties that have been less affected by the housing downturn.
Under Obama’s proposal, the additional revenue from this and other increased taxes on the wealthy would be used to expand health care coverage, invest in renewable energy and improve education.
Either way we will have to wait and see what happens.
.cb new_rayz said:
The article speaks for itself. Just depends what you take from it. You got potential Housing Catastrophe part DUR. I got more money for health care, renewable energy, and improvement in education:He just spent the better part of $1 trillion on those things.
MasterP said:
He just spent the better part of $1 trillion on those things.$1 trillion dollars is a lot of money, certainly more than I can fathom, but $1 trillion dollars does not a country fix.
Bitey said:
$1 trillion dollars is a lot of money, certainly more than I can fathom, but $1 trillion dollars does not a country fix.How much does it take then? By the democrat’s “wait and see” approach how can you already know what’s been allotted already isn’t enough?
As to what approach do the republicans have that could help solve it? Go ahead and blame Clinton now for the housing crisis, but we saw what happened when we gave power to a republican for 8 years, lots of war and debt woohoo. We might be in for a *edited* load of debt, but at least we will have something to show for it in the end.
.cb new_rayz said:
As to what approach do the republicans have that could help solve it? Go ahead and blame Clinton now for the housing crisis, but we saw what happened when we gave power to a republican for 8 years, lots of war and debt woohoo. We might be in for a *edited* load of debt, but at least we will have something to show for it in the end.Republicans can’t do anything to solve this, no party can. Trying to solve it makes it worse, as the stock market is proving every day. Anyone else notice that everytime Obama opens his mouth the market takes a turn for the tragic? It’s fallen 3000 points since he took office and shows no sign of turning around. Everytime Bush tried to fix the market it did similar.
I don’t blame Clinton, I blame his administration. There’s clear, undenyable evidence that his goons directly caused this and Obama is calling on some of these same people to fix it. That’s either trying to set the nation up for failure or not caring and turning a blind eye to it. At this point I’m not sure which.
Let’s stay on topic here, don’t deflect to wars that Obama himself has committed us to staying in. If you are so concerned about deficits, why are the democrat’s including 8,000 earmarks in the emergency spending bill they’re pushing through right now? Originally there weren’t going to be any emergency spending bills without giving the public a week to review it on the internet, not to mention earmarks and pet projects were supposed to be eliminated. More rhetoric, I guess, just like the 4+ lobbyists that were given wavers to bypass the appointment rule.
If you want to talk about having something to show for spending, what exactly are we going to have to show for the stimulus? Only 3% gets spent in 2009 and only 16% by the end of 2010. We won’t have anything for a decade and while I’m sure you’ll tout this as future planning, not two years ago you guys were hounding Bush because the jobs gained were lower-end, oddly enough the same type of jobs that Obama is focusing on creating. Also, I don’t know if you’ve ever payed attention but the vast majority of constuction jobs are filled by non-English speaking hispanics. Now since speaking English is a requirement to gain citizenship one could assume Obama is creating jobs for temporary workers and illegals. Yeah, that’ll help.
MasterP said:
How much does it take then? By the democrat’s “wait and see” approach how can you already know what’s been allotted already isn’t enough?There is no set sum of money that can fix this country, what I know it will take is commitment, hard work, and dedication from the patriots of this country, whatever the plan ends up being.
Vaguely relevant:
Ephraim said:
Vaguely relevant:those are the same yellow bellied chickens who said sorry about voting for bush. Indecisiveness is such a turn off these days.
I thought part of the reason for the housing crisis was that banks were allowing people to take out mortgages they couldn’t afford, the whole system should be broken down and re-structured.
http://money.cnn.com/2009/03/04/news/econo…sion=2009030409
Federal officials release details of $75 billion loan modification and refinancing programs. Borrowers can start contacting loan servicers.
“This plan will help make home ownership more affordable for nine million American families and in doing so, help to stop the damaging impact that declining home prices have on all Americans,” said Housing Secretary Shaun Donovan.
http://www.foxnews.com/politics/2009/03/03…eement-housing/
The deal would require judges to consider whether homeowners were offered a “qualified” loan workout defined as one that would meet Obama’s goal of monthly payments equal to about one-third of a homeowner’s income.”
The agreement includes changes whereby bankruptcy judges would have to deny a judicial mortgage adjustment in cases where the homeowner is deemed able to afford the loan.
So tell me why this is all wrong again? It seems like a start at least. Now I am an architecture major, not an economics or business major, so I can’t really say I know everything that is going on to help fix (or hurt) our current housing problems. I try to read up on both sides, anyway, I saw these two articles up and thought they were kind of relative.
MasterP said:
Republicans can’t do anything to solve this, no party can. Trying to solve it makes it worse, as the stock market is proving every day. Anyone else notice that everytime Obama opens his mouth the market takes a turn for the tragic? It’s fallen 3000 points since he took office and shows no sign of turning around. Everytime Bush tried to fix the market it did similar.I don’t blame Clinton, I blame his administration. There’s clear, undenyable evidence that his goons directly caused this and Obama is calling on some of these same people to fix it. That’s either trying to set the nation up for failure or not caring and turning a blind eye to it. At this point I’m not sure which.
Let’s stay on topic here, don’t deflect to wars that Obama himself has committed us to staying in. If you are so concerned about deficits, why are the democrat’s including 8,000 earmarks in the emergency spending bill they’re pushing through right now? Originally there weren’t going to be any emergency spending bills without giving the public a week to review it on the internet, not to mention earmarks and pet projects were supposed to be eliminated. More rhetoric, I guess, just like the 4+ lobbyists that were given wavers to bypass the appointment rule.
If you want to talk about having something to show for spending, what exactly are we going to have to show for the stimulus? Only 3% gets spent in 2009 and only 16% by the end of 2010. We won’t have anything for a decade and while I’m sure you’ll tout this as future planning, not two years ago you guys were hounding Bush because the jobs gained were lower-end, oddly enough the same type of jobs that Obama is focusing on creating. Also, I don’t know if you’ve ever payed attention but the vast majority of constuction jobs are filled by non-English speaking hispanics. Now since speaking English is a requirement to gain citizenship one could assume Obama is creating jobs for temporary workers and illegals. Yeah, that’ll help.
seeing as your the all knowing i say run for the pres of the country lets see how you do with it .
MasterP said:
Let’s stay on topic here, don’t deflect to wars that Obama himself has committed us to staying in. If you are so concerned about deficits, why are the democrat’s including 8,000 earmarks in the emergency spending bill they’re pushing through right now?Well I don’t agree with thousands of earmarks being tacked on to something, but lets keep it in perspective, 40% of those earmarks go to the minority party. 6 of the top 10 fattest checks are going to republicans.
I find this whole thing sad. Everyone is like, “omg how do we fix it!?” The banks lent money they didn’t have, and then it wasn’t payed back and they went under. I’m no economist and I understand what needs to be done. Giving them a trillion in taxpayer’s dollars is just making the problem worse. All that needs to be done is people need to start living within their means. Instead of trying to buy a 400k house, buy the 200k one you can afford. Some of the banks didn’t even check if people had a job, they just believed them. Those banks should be gone from the face of the earth now, but guess what, they’re using our money to buy random *edited* and live extravagantly. If this trend continues it’s goodbye usa.
.cb new_rayz said:
Well I don’t agree with thousands of earmarks being tacked on to something, but lets keep it in perspective, 40% of those earmarks go to the minority party. 6 of the top 10 fattest checks are going to republicans.And this changes things how? Obama said he wouldn’t allow any earmarks and his own party has proposed the majority of them. Just because Republicans are playing the game doesn’t make the game right and when the president said he wouldn’t allow the game to be played at all, well, we’re still here.
Can you at least admit that Obama lied when he said he would stop all wasteful government spending? And before you say it’s all been useful, research of catfish genetics has no public use.
Nebs said:
I find this whole thing sad. Everyone is like, “omg how do we fix it!?” The banks lent money they didn’t have, and then it wasn’t payed back and they went under. I’m no economist and I understand what needs to be done. Giving them a trillion in taxpayer’s dollars is just making the problem worse. All that needs to be done is people need to start living within their means. Instead of trying to buy a 400k house, buy the 200k one you can afford. Some of the banks didn’t even check if people had a job, they just believed them. Those banks should be gone from the face of the earth now, but guess what, they’re using our money to buy random *edited* and live extravagantly. If this trend continues it’s goodbye usa.There’s nothing wrong with banks going under. It’s a natural process in a free economy. Any interference leads to government control of sections of the economy and, as we’re now seeing, it’s a slippery slope that leads straight to government ownership of large sections of entire industries. I mean hell the government owns as much as 40% of some companies, all it takes is Obama to change the bailout agreement, which he’s already done once, and then the government magically has voting rights in companies. That’s a scary prospect but one that’s not too far off if we keep down this road.
As a realtor and owner of $$$$$ worth of property trust me the rich are still buying houses…I just bought one 2 months ago. Right now if you have the money its the time to buy and everyone knows that because people are giving away houses for dirt cheap…In my case for example the house would normally go for atleast 400k I got it at a steal at 200k and the builder threw in 5 discount points(interest rate points. 1 discount point=1/8 percentage point) and brand new stainless steal appliances. People are still buying and they will continue to do so because you cant make more land it always has and always will be a rock solid investment as long as you do your homework and buy smart. The housing crisis is hitting places like cali and flordia hard because people were buying half a million dollar homes when they couldnt afford it and when the property alone was never worth that much to being with. What happens is the first guy on the block sells his house and its a popular spot so the next guy is trying to get more out of it and so on so forth and it drives the cost to buy these houses through the roof. Remember the value of a house can only grow at a maximum of 10% per year and they did that so that people dont get slammed with high property taxes. So the more it changes hands the quicker it grows in value because that 10% gets reset every time a new owner steps in.
Citan001 said:
As a realtor and owner of $$$$$ worth of property trust me the rich are still buying houses…I just bought one 2 months ago. Right now if you have the money its the time to buy and everyone knows that because people are giving away houses for dirt cheap…In my case for example the house would normally go for atleast 400k I got it at a steal at 200k and the builder threw in 5 discount points(interest rate points. 1 discount point=1/8 percentage point) and brand new stainless steal appliances. People are still buying and they will continue to do so because you cant make more land it always has and always will be a rock solid investment as long as you do your homework and buy smart. The housing crisis is hitting places like cali and flordia hard because people were buying half a million dollar homes when they couldnt afford it and when the property alone was never worth that much to being with. What happens is the first guy on the block sells his house and its a popular spot so the next guy is trying to get more out of it and so on so forth and it drives the cost to buy these houses through the roof. Remember the value of a house can only grow at a maximum of 10% per year and they did that so that people dont get slammed with high property taxes. So the more it changes hands the quicker it grows in value because that 10% gets reset every time a new owner steps in.Hook it up with a job yo!
lol but seriously, if you’re interested in something in the Houston area holla at me.
What you lookin for a job rayz? I just got a house so I doubt im gonna move any time soon. Great deal on the house too and aside from that it would take me like a year to sell it because short sales are really hard to get approved.
Citan001 said:
What you lookin for a job rayz? I just got a house so I doubt im gonna move any time soon. Great deal on the house too and aside from that it would take me like a year to sell it because short sales are really hard to get approved.I’m always looking for a job. lol The way the economy looks now though, I may just take a four year plan. I’m planning on Peace Corps for two years right after I graduate in August and then when I get back take some more loans out and get a masters. I figured by then the economy should be straight, and I’ll have a degree from texas a&m, 2 years experience from peace corps, and a masters in something, not quite sure yet. That on a resume will hopefully get me a job by then.
What is your degree in and where in texas are you? I am in El Paso and I got alot of people I know all around texas.
Citan001 said:
What is your degree in and where in texas are you? I am in El Paso and I got alot of people I know all around texas.My Major: Global Arts, Planning, Design and Construction in Architecture. Minors in Creativity Studies and Art and Architectural History. The degree encompasses all the aspects of architecture, construction science, environmental design, urban planning, and landscaping. I’ve taken a bunch of architectural and visual classes and studios. I can do sketches, renderings, photoshop, graphics, traditional paintings, interior design, exteriors, photography…list goes on. Basically I can design anything no problem. I’ve designed several logos and album covers for various radio stations, businesses, musicians, and schools in Houston.
Let me see what I can do for you. I got a buddy over there who is a general contractor. Can you do blueprints?
Citan001 said:
Let me see what I can do for you. I got a buddy over there who is a general contractor. Can you do blueprints?Never really made blueprints before to be honest. I can make anything he wants on autoCAD though. The way the school has set up the programs, we specialize in graphic design work, and then get the civil engineers/construction science majors to make it work in real life. I’m a really fast learner though
Lol. I will call him in a few hours after I fully wake up cuz I got one hell of a hang over. How much you lookin to get paid and are you at the point where you will take any job?
Citan001 said:
Lol. I will call him in a few hours after I fully wake up cuz I got one hell of a hang over. How much you lookin to get paid and are you at the point where you will take any job?Drink some pedialyte, it’s like Gatorade on crack, and is normally given to people who have lost a lot of fluids due to dehydration and/or vomiting. Cures any hangover.
pay doesn’t matter right now, nor does the type of job. I can’t really commit to anything long term tho, I’m only going to be in the states until the end of May, then I’m off to Barcelona to study abroad. I get back in July and then ship back out in August. to where…I can’t say yet cuz the Peace Corps people haven’t hit me back up.
Alright that is fine let me see what I can do. Its not that kinda hang over btw. I might have maybe done a few recreational things if you know what I mean and they are still in my system and at the time it felt great but after sleeping I woke up in not such good shape. Plus I fell asleep on my computer chair seeing as how my bed was occupied so give me abit to get back to normal here and I will call these guys up.
- The forum ‘Political Discussion’ is closed to new topics and replies.