- advertisements -
Lower prices are good for the cash on hand types.
Or fools trying to catch falling knives. I see the government stepping in and paying the states to condemn and demolish vacant houses.
That is what they are doing in Ireland.
That way government creates jobs to destruct.HOHO.
Reminds me back then when they argued for moving some Guantamela prisoners to an Illinois prison b/c it'd create jobs. No I didn't make it up.
It would be better to build new houses and have the demolition crews follow the
construction crews, ripping them down as fast as they get built. Pure Keynes.
As covered here and elsewhere, why not?
Perfect example of how what we call GDP is a theft from future well-being for current profit among just a few.
Dead, literally disintegrating, decomposing shoots.
They aren't explicit, but that's what they're getting at.
Government's been demolishing homes for years under the claim of economic revitalization.
That's self-inflicted ecological suicide when you consider the numbers.
So are silver dollars but they both make a crappy investment
I realize you are nothing but a stupid troll, but really. A silver dollar has been probably the best possible investment you could have had in 2010.
crappy is in the mind of the fellow with no dough to invest
4.50 to 29 on the way to 80 leaves your comments frozen in mush
.. / .-.. --- ...- . / -- --- .-. ... . / -.-. --- -.. .
.. / -.. .. -.. / -. --- - / .--- ..- -. -.- / -.-- --- ..-
.--.. .- ... .-- --... . .. .---. .---. .-. .. .- --. . ...-- . ..!
You gotta use spaces between words to decode!
... --- ...
.. / .-.. .. -.- . / ... -. .- -.-. -.- ... .-.-.-
Honk if you like Boobs!
.... --- -. -.- .... --- -. -.- !!
These won't be empty for long. These are the future residences where the American slaves they've been purchasing are going to live, spending the rest of their lives working for their new Sino-Masters. Ni Hao!
All part of the plan...US Gov has already planned with China to outsource retirees and the elderly. China will accept them along with direct deposit of all Social Security and Medicare into China government coffers. In exchange they'll provide housing (ghost cities) and cheap labor from the Chinese country side (while receiving funds adjusted to US prices).
It's a win-win!
Cool. I love Chinese food. I hope I can drive one of those tricked-out golf carts like in The Villages. When is my flight? I'm also looking forward to my porn shoot and groping.
They taste just like dog!
(I would ask for a pardon for the uncalled for ethnic humor, but I won't.)
Nothing more satisfying than a pasteurized, homogenized, chopped, extruded and formed rib byproduct with high fructose, err, corn sugar flavored sauce!
AHHH, oh no!! the 1 child policy has proven to be an unmitigated disaster!
Seriously though, that is creepy. It looks like a neutron bomb went of or something.
1 child policy
I'm surprised no one has picked up on the implications of this yet.
It is going to SLAUGHTER Chinese real estate.
The Chinese middle class has bee putting saving in real estate. they all own more than one home. Come 2015 - 2020, the single child policy comes into its own and these now single kids need homes----ALL OF WHICH will be provided for them by their familes ---meaning come 2015 - 2020 the demand for real estate for the creation of new households will drop to about ZERO Xiao Xing - Xiao Xing
They created their own "baby boomer" problem willingly...too many old, not enough young.
What else happened around April 21? Buhler? The market began a 20% drop.
Theres radio ads here from mortgage companies yelling 'BUY NOW! Rates are going up so you gotsta get you one of these here houses NOW before YOUR chance is GONE, LOSER'!
Well, in effect anyway.
All wildly hillarious.
any loan flippers out there know, is this too much heat to handle ? Can we expect every good credit loan origination with a *rate lock* in the pipeline will get busted by the lender for what ever reason they can find ? "you forgot to cross your T on line 15 page 31 of your loan app. I'm afraid we're going to have to deny your loan." but but we're suppose to close in 4 days.. sorry.
I've never closed on a home that didn't have a locked rate... maybe it helps to have a lawyer involved to relieve the possibility of crawfishing, but generally speaking the banks would be in breach of contract... if push comes to shove, they capitulate...
I'm mostly refering to the loan brokers that float to the top of "google compare rates" They work on razor thin margins, do all their work via fax and may be located 1000 miles away. I was told they try not to lock the rate because borrowers will bail quick if better rates come along. Consumer protection laws make it easy for the borrower to back out. I did a refi and dumped one for another when rates fell to 4.25 I held my breath hoping rates wouldnt back up thinking they would dump me just as quick.
Interesting timing of the rate spike considering the Alt-A and Option Only Arm resets we are wading through at this point and time - http://www.dailymarkets.com/economy/2009/02/08/default-of-mortgage-loans-alt-a-and-option-arms-are-next/
Most don't have the cash in hand and/or the credit rating to grab the below 5% rates. basically if they didn't refi already...they missed the boat.
Agreed. The bulk of buying and refi's have been pulled forward.. Could be a little more in the pipeline but next year should get pretty ugly..
Little to nothing down FHA borrowers get a better rate than the 20% down crowd. Look it up. Your gubbermint hates you and your cash.
I hate when Latin rears it's ugly head.
bond market finally getting interesting
Good thing Uncle Ben coming out with QE2
That shoe dropped 3 years ago and right on our heads. And then there is this commercial real estate thing where people can walk even easier- and its a business decision not a life decision to dump your property
All part of the plan....let rates rise on the long end for 2 reasons: -stanch the hemorrhage of dollars to developing markets (hehe) by restoring a semblance of dollar credibility and keeping up appearances of 'growth-driven' rate rises and -keep housing in the cellar so it doesn't blow CPI into the stratosphere and explode the whole QE ZIRP program. Keeps inflation looking artificially low. Monetarists survive to live another day.
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Advertise With Us
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
How to report offensive comments
Notice on Racial Discrimination.