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CNBC Video | Let’s Bulldoze The Foreclosed Homes Because the “Fixtures, the WIFI, or Whatever, Even the Color is Not Going to be Stylish By the Time Someone Buys Them”
Should Gov't Pay to Reduce Housing Supply?
The
shadow inventory of homes in the United States currently stands at 1.8
million units. That's a nine-month supply. Add to that the current
8.6-month supply of existing homes on the market and you can bet home
prices will decline further. Some say destroying the homes to get rid of
the excess supply is the only way out of this mess. But who pays?
Should the government pay to bulldoze abandoned, foreclosed homes to shed excess housing supply?
Share your opinion at the CNBC poll here...
They'd rather throw people in the streets and bulldoze the homes than work out a solution...
Ever think that they might not have clear title to these homes and the only option is to bulldoze?
And the fraudclosures continue...
www.4closureFraud.org
»
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So instead of paying a few hundred to repaint, we spend a few thousand to destroy, thereby negating the entire "ownership" snafu and reducing the oversupply of housing, thereby artificially inflating home prices to create a wealth effect so we can raise taxes and keep spending money we don't have and will never earn.
Yep, American Ingenuity at it's worst.
Checking Craigslist for used bulldozers right now, but I'm sure there's experienced Israeli contractors waiting for the no-bid.
Hmm, let me see now, tearing down houses that no-body wants and there is no demand for these houses is somehow magically going to create new demand?????
What are these idiots on?
Dream crack. They're expecting to reduce supply and increase demand. I'm sure they think it'll make the valuation on current, non-bulldozed properties shoot through the roof, too.
Will they check to see if anyone is inside I wonder?
The problem isn't that there are too many houses, the problem is that people can't afford to buy houses. Reducing housing supply makes housing even more unaffordable for the middle class. Another idea by the wealthy to create a homeless class of peasants.
A quote from a 1924 edition of the American Banker's Association not intended for the public sums up what is currently happening all around us: "Capital must protect itself in every possible way, both by combination and legislation. Debts must be collected, mortgages foreclosed as rapidly as possible. When, through the process of law, the common people lose their homes, they will become more docile and more easily governed through the strong arm of government applied by a central power of wealth under leading financiers. These truths are well known among our principal men who are now engaged in forming an imperialism to govern the world. By dividing the voter through the political party system, we can get them to expend their energies in fighting for questions of no importance. It is thus by discreet action we can secure for ourselves that which has been so well planned and so successfully accomplished."
Exactly.
Prices still have not adjusted downward enough to clear inventory. Many banks still holding higher end homes in shadow inventory rather than accept a reasonable offer.
Often what's available for REO sale is still priced too high. By the time it gets to auction it is vandalized.
No, the problem is that they don't like the price the houses can fetch. A similar argument is used with why we can't go back to gold standard: 'Theres not enough gold'.
Bullshit... In both cases they just don't like the price.
what i wouldnt give to ram home a hot k-bar right through under the chin of this rat faced cunt, right up through the roof of her putrid puss filled mouth into her tiny skull. I'd take my time with this shit maggot lavorgna.
Hey, don't hold back... Tell us how you really feel.
I'd really like to shave off little pieces of lavorgna, begining with his pig nose. Just slice and peel it back nice and slow. Then the cheeks and face, followed with some dental work. I can see it, it would feel so good to hear this pig squeal. No major arteries. He'd last a good long time. Begging and pleading. Offering me money. Whatever I wanted. I'd listen and talk to him, but I wouldn't take any of it. Then after a few days, I'd get bored and leave.
Yeah, they have boards for your type. Try .alt.sicko etc Don't want any of that here. I logged in just now specifically so I could junk you, you sick bastard.
i was too actually, don't know what alt.sicko is and don't give a shit. I like sick bastard though. A lot. I am humbled that you signed in just for me. I am so curious? what else outrages you besides internet chat board comments? anything in real life? I'm being serious. You know what outrages me? that los angeles didn't even rank in the top 10 of most traffic from a major city to ZH . ZH traffic was mainly east coast and europe. That ! is unreal and scares me a lot! so i shared, what outrages you ? besides my shit? and im not going to your fucking site. or ogrish. so fuck your mom. in the ass. hard.
i was too actually, dont know what alt.sicko is and don't give a shit. I like sick bastard though. A lot.
uhh...i think lowprofile was just kidding
Erin Burnett. What a vacuous bitch.
Tear down relatively new houses because the interior is light green and indicative of the mid 2000s which might be out of style before their re-sold.
and two talking pricks agree with her.
CNBC just acheived a new level of stupid.
If I were a sponsor, I'd pull my business.
"If I were a sponsor, I'd pull my business."
CNBC is the business, the sponsors own the network and shows.
couldn't have said it better myself.
Erin "B-Cup" Burnett has to say outlandish things to get noticed amongst all the CNBC D-Cup Anchorettes...
FYI: Each Anchorette comes equipped with a pair of talking boobs (pricks)...
BTW: Advertisers love CNBC...
If you are stupid enough to watch CNBC, you are stupid enough to buy their products...
I don't watch it. I watched the clip which I assume you did as well.
I watch Bloomberg on occasion.
Hear THAT CNBC advertizers!
The programming has now become a parody of a financial channel.
my neighbor has formica in their kitchen. tear the sucker down!
Oh the house is sooo 2000..
Houses aren't a pair of shoes or a handbag!
Hands down, without question, the stupidest fucking thing I've heard on CNBC....ever.
"[Ms. Burrnet], what you've just said is one of the most insanely idiotic things I have ever heard. At no point in your rambling, incoherent response were you even close to anything that could be considered a rational thought. Everyone in this room is now dumber for having listened to it. I award you no points, and may God have mercy on your soul. "
I think her bra is too tight...maybe its cutting the flow of blood to her brain.
Not that she really needs one.
Indeed...
...whose office might this be ?
http://www.erinburnett.info/erin_burnett_pictures/Solo_Shots/originals/e...
Warren "Uncle Crusty Smegma" Buffett?
Listen to Joe Bologna'a advice at your peril. Add Don Luskin, James Althucher, Lee Munsen and Steve Liesman to that list as well.
CNBC is psy-ops, for the weak minded...
Altucher calls to mind Jack Nance with glasses.
http://www.amoeba.com/dynamic-images/blog/Eric_B/jack-nance-eraserhead11...
Here's a better idea: why not bulldoze the foreclosures and put solar panels in their place to wean us off of Big Energy? Make lovely parks or neighborhood gardens to help us combat the rising price of food and encourage our children to be active? Of course, we'd have to unplug their TV and computer babysitters for that...
As long as you pay my share of it.
Bitch.
I'm glad to see the high-brow humor you're capable of employing, Shecky LowProfile. Given my druthers, I would, and you can make it up to me by killing yourself.
ooh, FTW!
you choose your own level of involvement...
Un-fucking-believable. Crash the system, crash it now. The sooner we do, the sooner compensation will return to people who are actually worth a shit.
I can see it now: "Wrecking Balls for Recovery"
What's next, evacuate and carpet bomb Michigan?
Isn't that redundant?
Destruction is the path to economic growth. Just look at post war Europe and earthquake machine ravaged Japan. Why not knock down more houses than just those that are empty? That would raise prices.
Just the lower half. The UP is just trees and mosquitoes the size of blackbirds.
Too much inventory? No problem.
By that logic, it is now patriotic to total your Chevy.
Maybe they would award the Medal of Freedom to someone that burns down a channel-stuffed GM dealership?
Mine's a condo, how do you bulldoze the bottom part of a building?
While your condo might be problematic... There is a bigger target worth tearing down.
>>>>> BULLDOZE CNBC OFFICES <<<<<
Since Rick is not there, makes sense to do the world a favor and bulldoze CNBC's offices imho.
why is rick dignifying that bimbofest?
Because that's what gets paid to do.
Should the US government bulldoze abandoned foreclosed homes? Yes, the sooner we get rid of them the better12%
No, stop the spending88%: 1726
Don't let little things like facts, title, and needs cloud your judgment. We have a recovery to fabricate, don't you know?
So, in order for this to work fairly, the American Bankers will be willing to underwrite all the expenses and losses from this proposed program, with their current equity and profits.....or do they just want the puclic to pay the expense and make their problem go away? If the Banker will pay for it, fine, otherwise no way...
Just. Fucking. Sell them.
The price for these houses is the price that someone is willing to pay for them. It's called a "MARKET". One would think these CNBC jackasses would be familiar with the term.
If the banks paid too much for them, they should sell them and EAT THE LOSS.
And what was that bullsh*t about a five year old house being "out of style". Are these cocktail dresses we're talking about, or houses?
...I feel the overwhelming need to go and break something.