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The real housing crisis is one of quantity

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The real housing crisis is one of quantity Enough Already 04-19-2008
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Posted by Geo on April 22, 2008, 8:03 pm
> The REAL housing crisis is that TOO MANY of them are being built every
> day, bad mortgages or not. Mindless overpopulation (75 million
> annually, worldwide) is treated as natural. Nature is treated as
> expendable.
>
> People go about their business, talking about money and investments,
> as if the land itself is infinite. They always claim there's "plenty
> of land" but won't say relative to what. Unaffected acreage decreases
> literally each second.
>
> http://images.google.com/images?hl=en&q=human+footprint+map
>
> "Economic growth" means more people and less nature each day, with
> money creating a false measure of value in the process. A true housing
> "bubble" is an entire round hill covered with them.
>
> Real estate developers use money made from cannibalized land to
> cannibalize even more land. The word FINITE is missing from too many
> vocabularies.
>
> E.A.
>
> http://enough_already.tripod.com/
>
> Housing starts are a leading indicator of mindless growth.

The real housing crisis doesn't exist. 96% of home owners do the
right thing by paying their mortgages. 4% are too stupid to figure
out simple math and understand that an adjustable rate mortgage
actually goes up after a certain amount of time. To you numbskulls
that went to govt schools, that means the monthly payment goes up.
So, what do we have? A freaking bailout that you and I have to pay
for. All because people are too stupid to be responsible.

Posted by Dioclese on April 22, 2008, 11:52 pm
>> The REAL housing crisis is that TOO MANY of them are being built every
>> day, bad mortgages or not. Mindless overpopulation (75 million
>> annually, worldwide) is treated as natural. Nature is treated as
>> expendable.
>>
>> People go about their business, talking about money and investments,
>> as if the land itself is infinite. They always claim there's "plenty
>> of land" but won't say relative to what. Unaffected acreage decreases
>> literally each second.
>>
>> http://images.google.com/images?hl=en&q=human+footprint+map
>>
>> "Economic growth" means more people and less nature each day, with
>> money creating a false measure of value in the process. A true housing
>> "bubble" is an entire round hill covered with them.
>>
>> Real estate developers use money made from cannibalized land to
>> cannibalize even more land. The word FINITE is missing from too many
>> vocabularies.
>>
>> E.A.
>>
>> http://enough_already.tripod.com/
>>
>> Housing starts are a leading indicator of mindless growth.
>
> The real housing crisis doesn't exist. 96% of home owners do the
> right thing by paying their mortgages. 4% are too stupid to figure
> out simple math and understand that an adjustable rate mortgage
> actually goes up after a certain amount of time. To you numbskulls
> that went to govt schools, that means the monthly payment goes up.
> So, what do we have? A freaking bailout that you and I have to pay
> for. All because people are too stupid to be responsible.

Forgive my unfamiliarity. As I understand it, the bank or maker of a loan
for a home/house is REQUIRED to provide a list of payments for the entire
length of the mortgage loan.

The housing crisis exists uniquely for the working poor. This is because
they have to pay for all their housing costs, and because there seldom
exists adequate affordable housing for these people.
--
Dave

Hypocrisy. Big SUV, filament lights on all night. You think your neighbor
should be changiing to compact fluorescent light bulbs and driving the
hybrid.



Posted by Matt W. Barrow on April 23, 2008, 1:14 am
"Dioclese" <NONE> wrote in message
>>
>> The real housing crisis doesn't exist. 96% of home owners do the
>> right thing by paying their mortgages. 4% are too stupid to figure
>> out simple math and understand that an adjustable rate mortgage
>> actually goes up after a certain amount of time. To you numbskulls
>> that went to govt schools, that means the monthly payment goes up.
>> So, what do we have? A freaking bailout that you and I have to pay
>> for. All because people are too stupid to be responsible.
>
> Forgive my unfamiliarity. As I understand it, the bank or maker of a loan
> for a home/house is REQUIRED to provide a list of payments for the entire
> length of the mortgage loan.
>
> The housing crisis exists uniquely for the working poor.

Actually, no, it doesn't. Many middle-class folks got in too deep by
borrowing against equity (paper gains) to buy all sorts of nice toys. Now
they're stuck with diminishing market value and two or even three mortgages
on their property.


> This is because they have to pay for all their housing costs,

And who doesn't?

> and because there seldom exists adequate affordable housing for these
> people.

Absolute BS. There's not enough "rich" people to sustain the market you seem
to think you see.

Just 100 yers ago, most goods beyond the very basics were the domain of the
"rich" (and those were mostly rich by heredity, not productivity, at least
outside the US).

Today, the "poor" have goods the rich didn't have in the late 19th century.

As little as 30 years ago, the term "Jet Setter" had a significant
connotation: only the wealthy could afford to fly around for their travels;
today, most anyone can.

Here's a few clues: Henry Ford, Sears, Wal-Mart, the consumer electronics
industry...

There's very few markets that can sustain themselves catering only to the
wealthy.


> --
> Dave
>
> Hypocrisy. Big SUV, filament lights on all night. You think your
> neighbor should be changiing to compact fluorescent light bulbs and
> driving the hybrid.

Hey, hypocrite: shut off your computer and TV and use your abacus and read
books.

Now, if you'll excuse me, I have to prepare for a trip in the morning in my
private aircraft that gets 15 miles per gallon.

--




Posted by zzbunker on April 23, 2008, 5:53 am
> The REAL housing crisis is that TOO MANY of them are being built every
> day, bad mortgages or not. Mindless overpopulation (75 million
> annually, worldwide) is treated as natural. Nature is treated as
> expendable.
>
> People go about their business, talking about money and investments,
> as if the land itself is infinite. They always claim there's "plenty
> of land" but won't say relative to what. Unaffected acreage decreases
> literally each second.

That's only a tenth of the problem. They also build their neo-
palaces
with three car garges, but buy five cars, two SUVs, and a
powerboat.
Impossible to afford maintainence fees, built-in theaters,
dial-a-pizza, and fly-in drive-ways.
So you put all them togther, and it's not a housing problem.
It's a geniune Miami Beach idiot problem.



> http://images.google.com/images?hl=3Den&q=3Dhuman+footprint+map
>
> "Economic growth" means more people and less nature each day, with
> money creating a false measure of value in the process. A true housing
> "bubble" is an entire round hill covered with them.
>
> Real estate developers use money made from cannibalized land to
> cannibalize even more land. The word FINITE is missing from too many
> vocabularies.
>
> E.A.
>
> http://enough_already.tripod.com/
>
> Housing starts are a leading indicator of mindless growth.


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