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Old 04-03-2013, 10:11 PM   #16
KevinNYC
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Default Re: Obama admin pushes banks to make home loans to people with weaker credit.

Quote:
Originally Posted by longhornfan1234
2018. 4-6 years.
So some time during Hillary's first term.

The baseline is the Case-Schiller 20 city composite index. It's about 145 right now. The latest data came out last week and is for January 2013.

I'm going to go tie a string on my finger to remind me to check this.
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Old 04-03-2013, 10:14 PM   #17
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Default Re: Obama admin pushes banks to make home loans to people with weaker credit.

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Originally Posted by longhornfan1234
2018. 4-6 years.

No way, we're looking at a year or 2, right before his term ends.
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Old 04-03-2013, 10:39 PM   #18
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Default Re: Obama admin pushes banks to make home loans to people with weaker credit.

Quote:
Originally Posted by KevinNYC
So some time during Hillary's first term.

The baseline is the Case-Schiller 20 city composite index. It's about 145 right now. The latest data came out last week and is for January 2013.

I'm going to go tie a string on my finger to remind me to check this.

Hilary is too old

Let's get back to reality... there's no supply on the market. The banks are holding on to all the foreclosed real estate and the low interest rate environment has pushed non-traditional renters in the market to find some yield. The "housing recovery" is quickly turning into another housing bubble.
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Old 04-03-2013, 10:55 PM   #19
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Default Re: Obama admin pushes banks to make home loans to people with weaker credit.

How far below the baseline do we need to be in 2018 to have a crisis?

10%? 20%?
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Old 04-03-2013, 11:04 PM   #20
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Default Re: Obama admin pushes banks to make home loans to people with weaker credit.

Quote:
Originally Posted by KevinNYC
How far below the baseline do we need to be in 2018 to have a crisis?

10%? 20%?
20%.

What are you trying to convey?
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Old 04-03-2013, 11:09 PM   #21
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Default Re: Obama admin pushes banks to make home loans to people with weaker credit.

Quote:
Department to provide assurances to banks, which have become increasingly cautious, that they will not face legal or financial recriminations if they make loans to riskier borrowers who meet government standards but later default.

standards that was put on banks after the financial crisis so poor practices of risky lending would never happen again by these banks. i dont see the problem, our economy has recovered, banks can start loaning again, especially if its based on the new government standard.

kind of the same situation with d rose. youre not going to fully recover untill you start playing in real games. economy isnt going to fully recover untill banks start loaning to the lower end.

Last edited by nathanjizzle : 04-03-2013 at 11:12 PM.
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Old 04-03-2013, 11:12 PM   #22
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Default Re: Obama admin pushes banks to make home loans to people with weaker credit.

Quote:
Originally Posted by longhornfan1234


Hilary is too old

How is she? Women have a higher life expectancy than men and she will be younger than when both John McCain ('08) and Ron Paul ('08 and '12) were running. Biden is 70 now too.
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Old 04-03-2013, 11:24 PM   #23
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Default Re: Obama admin pushes banks to make home loans to people with weaker credit.

Quote:
Originally Posted by longhornfan1234
20%.

What are you trying to convey?

Trying to set the terms. Because we could have up and down home prices without having a crisis.

I also wonder what the effects of the Baby Boom bulge aging will have on housing.

For example, here in NYC, it's pretty popular for folks who are retiring to sell their house at NYC prices and the buy a housing in warmer state at cheaper prices. This has no affect on prices here if there are a lot of younger buyers, ready to buy those houses, but what happens when you have many more retirees than usual?
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Old 04-03-2013, 11:40 PM   #24
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Default Re: Obama admin pushes banks to make home loans to people with weaker credit.

http://money.cnn.com/2013/04/02/pf/c...delinquencies/
Quote:
Credit card users are better at paying their bills on time than they have been in almost two decades.
Delinquencies on bank-issued credit cards sank to 2.47% in the fourth quarter -- the lowest level since 1994, according to an American Bankers Association report released Tuesday.

Credit card users are better at paying their bills on time than they have been in almost two decades.
Delinquencies on bank-issued credit cards sank to 2.47% in the fourth quarter -- the lowest level since 1994, according to an American Bankers Association report released Tuesday.
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Old 04-04-2013, 08:48 AM   #25
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Default Re: Obama admin pushes banks to make home loans to people with weaker credit.

Quote:
Originally Posted by KevinNYC
Trying to set the terms. Because we could have up and down home prices without having a crisis.

I also wonder what the effects of the Baby Boom bulge aging will have on housing.

For example, here in NYC, it's pretty popular for folks who are retiring to sell their house at NYC prices and the buy a housing in warmer state at cheaper prices. This has no affect on prices here if there are a lot of younger buyers, ready to buy those houses, but what happens when you have many more retirees than usual?

Housing prices will drop...maybe crash if enough leave and there aren't new buyers... and in the warmer climates, they will spike.


In fact, it very well reach a point where they don't even bother to move because they can't sell their current home and can't afford homes in retirement areas due to demand.
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Old 04-04-2013, 08:58 AM   #26
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Default Re: Obama admin pushes banks to make home loans to people with weaker credit.

Quote:
Originally Posted by longhornfan1234
Housing prices will drop...maybe crash if enough leave and there aren't new buyers... and in the warmer climates, they will spike.


In fact, it very well reach a point where they don't even bother to move because they can't sell their current home and can't afford homes in retirement areas due to demand.


You're not familiar with housing prices in NYC. For the homes I'm talking about, primary residences where the homeowner has lived in the house for two decades or more before retirement, they will still be able to take a profit, it's just a question of how much profit. If my Mom wanted to move down south, the home she bought in the mid 60's would fetch about 30-40 times what she paid for it.

There's lots of place she could move to without spending half of what her current house would sell for.
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Old 04-04-2013, 09:04 AM   #27
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Default Re: Obama admin pushes banks to make home loans to people with weaker credit.

Quote:
Originally Posted by nathanjizzle
standards that was put on banks after the financial crisis so poor practices of risky lending would never happen again by these banks. i dont see the problem, our economy has recovered, banks can start loaning again, especially if its based on the new government standard.

kind of the same situation with d rose. youre not going to fully recover untill you start playing in real games. economy isnt going to fully recover untill banks start loaning to the lower end.

The banks has responsibility to the depositors. The reason we had crash in banking was federal gov pushing banks to lend to those who had little or no credit. Doing more of the same will only compound the problems later. It's wrong and irresponsible to repeat what we just did.
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Old 04-04-2013, 10:09 AM   #28
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Default Re: Obama admin pushes banks to make home loans to people with weaker credit.

some other conservative wanna be political smarty tried pointing this out as an Obama failure. I want somebody to please explain on how allowing more people to refinance when they are under water on their orignal shit mortgages to better mortgage deals will harm the housing industry.

So getting somebody out of a terrible financing situation where they are likely to foreclose and stiff the bank into a more stable situation where they can actually pay back the bank is a bad thing now?

I don't think people really understand what happened with the housing bubble...
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Old 04-04-2013, 11:01 AM   #29
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Default Re: Obama admin pushes banks to make home loans to people with weaker credit.

Quote:
Originally Posted by KevinNYC
You're not familiar with housing prices in NYC. For the homes I'm talking about, primary residences where the homeowner has lived in the house for two decades or more before retirement, they will still be able to take a profit, it's just a question of how much profit. If my Mom wanted to move down south, the home she bought in the mid 60's would fetch about 30-40 times what she paid for it.

There's lots of place she could move to without spending half of what her current house would sell for.

You mentioned one direction things can take. The people who have owned the homes for decades still want the best price for their homes and in some markets like NYC they can get top dollar. Other areas of the US are less wealthy and homes sell for under $100K.

Many seniors sell their homes and go to a retirement community or senior apartments. My parents(renters) find a housing squeeze in that market and wait lists for senior apartments are lengthy in popular areas.

If your mother wanted to move to the South...yes, she can find a beautiful home for under $200K, but does she want to move at her age and start all over again? Most people don't do that. She could sell her current home, move to a senior apartment or condo, and use the rest of the money to buy a house for you in the South...so you have an investment.
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Old 04-04-2013, 11:04 AM   #30
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Default Re: Obama admin pushes banks to make home loans to people with weaker credit.

Quote:
Originally Posted by DukeDelonte13
some other conservative wanna be political smarty tried pointing this out as an Obama failure. I want somebody to please explain on how allowing more people to refinance when they are under water on their orignal shit mortgages to better mortgage deals will harm the housing industry.

So getting somebody out of a terrible financing situation where they are likely to foreclose and stiff the bank into a more stable situation where they can actually pay back the bank is a bad thing now?

I don't think people really understand what happened with the housing bubble
...


Please elaborate... I want to read your lib professor's talking points.
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