The Housing Bubble

1.) What if America does not financially implode before this Christmas?
2.) What year might the Federal Minimum wage be legally set above $9.35?
3.) Of 314 million Americans how many are “homemoaners” above $500,000?
4.) What would be you guess for the National average family income in the year 2015?
5.) Aeroplanes and automobiles should always be the only means to get from point A to point B in America?

(Mr. Cole’s rock climbing lesson #5 begins tomorrow.)

Everyone be safe, it’s a jungle out there!

So…..who has the movie rights to the past ten or so years of the housing industry? I’ve seen just a bit on “Capitalism: A Love Story” and think it would make a great full length self standing documentary.

Government cheering on citizens to buy a house, NAR, Fannie/Freddie, NINJA loans, Countrywide commercials……So many different angles you could take with it. Hell, you could make it into a Ken Burns 15 part series!

Think about it: Premiere at Sundance of a film called “Realtors are Liars”, written and directed by Ben Jones. Instead of a red carpet you could walk on Granite Counter tops! Movie posters made from Tyvek paper….so many possibilities!

Technological Stagnation:

Men used to send each other to the moon on rockets, now they send tweets.

How are we supposed to get excited about this? Sorry, Mr Jobs. Its just a phone and a laptop with a shitty keyboard and no lid.

HBB poster 2banana is on the payroll of:

A) Koch Brothers
B) US Chamber of Commerce
C) Heritage Foundation
D) RNCC

I think we need a new type of house, I say a show on TV about Japanese preform homes built in a factory and set up on location, very nice and no they were not crappy moblie homes.

In Phoenix I saw roof truss ( I think thats’ what they are called ) built outside from wet Oregon wood brought down weekly on a train. They were some warped trusses by the time they shipped out on a truck to the building site probably Queen Creek or maricopa.

The stick homes ( built like US homes ) are more expensive in Japan and a status symbol

I want to know whatever happened to that documentary they filmed with us in Vegas. The German guys. When will all be big stars like Ben?

Everything goes back to this crazy lending that can’t be justified on any level . The Culprits have avoided responsibility with the stupid Bail Outs and the obstruction of Justice .

Here we have this illusion going on that home buyers weren’t leered into a false market and Lenders didn’t breach their duty to make sound loans .

The financial markets are tied into everything and you can’t separate
billions of home lending from the greater economy . It produced false industries and debt that was not payable .

Now they are talking about not having enough tax revenue to maintain current spending . How about the reasons behind our tax base and job base being creamed and how this fake real estate market wasn’t the way to create wealth or income . It just was a fake leverage game that
Wall Street is so good at creating if they aren’t stopped .

You can’t make a bad loan good in the final analysis . You can’t make a fraud market good because it was based on faulty lending . The buyers weren’t really able to sustain a long term loan under the basic of a fraud market that was doomed to crash .

Now they have the by-product of this fake market which is tons of foreclosures or deliberate walk-aways even if the loan buyer could pay the loan monthly .

Lenders are suppose to protect the deposits of the Nation ,not past the
buck to unsuspecting investors . Why are we treating these Culprits like anything but criminals ? Lines like “We didn’t see it coming ,” don’t hold water .This real estate Ponzi-scheme was a major financial crime ,as well as the other lending that was going on . These parties act like
buyers should of known what they qualified for . This notion is absurd
because buyers rely on lenders to put a limit on them . When this market became just a “fraud market ” it just went off the charts with
fake prices just to keep the Ponzi-scheme going .They keep coming up with more faulty loans to qualify people short term and its just clear what they were doing . Buyers got greedy ,but they should of been limited . The whole ordeal is just a joke and the PR on it has been false
from day one .

You people can excuse lenders for breaching their duty but I don’t . The issue is now what will the post housing scheme market be like . Its all about avoiding what created the Housing Ponzi Scheme to begin with .
The Traitors in power changed long term structures in American and
created unworkable structures that would bring a lot of pain to the
economic functioning of America in terms of tax base and in terms of
job base ,standard of living ,monopolies in control and you name it .

Get rid of all the bum in the Senate and Congress and start all over .

Whither Fannie and Freddie?

Reckless Endangerment: Making Debt “Owe-nership” Easy
Friday 3 June 2011
by: Gerald Epstein, Triple Crisis

In search of a new angle on the financial crisis, Gretchen Morgenson and Joshua Rosner’s (M&R) new book, Reckless Endangerment, seems to pin a lot of the blame on misguided do-gooders who were trying to make the dream of “home ownership” in America a reality for all. These include Bill Clinton, who they say pushed for making home ownership easy through his “National Partnership in Home Ownership” (p. 1), the Federal Reserve Bank of Boston’s researchers who did a path-breaking study of discrimination in lending, and even community organizing groups like ACORN. M&R say that ACORN and other housing groups let themselves be taken in and bought off by James A. Johnson, the CEO of Fannie Mae.

To be sure, Johnson, his successor Franklin Raines and other Fannie Mae executives, got very, very rich (Johnson pocketed more than $100 million in pay and Raines made more than $90 million, though he had to give more than $20 million back in a settlement for accounting fraud). While Johnson and Raines were making their fortunes, they were hiding under a protective cloak of pretending to make home ownership easy in America, viciously attacking their enemies while paying off their friends on both sides of the aisle.

But in spite of the authors’ desire to highlight the role of Fannie and Freddie, (the so called Government sponsored enterprises - GSEs - that helped finance home mortgages and after failing in 2008 have been taken over to the tune of 180 billion dollars by the tax payers) what comes through clearly from the dozens of interviews and reporting in Reckless Endangerment, the real culprits were not primarily Johnson and his pals, but rather the political establishment. These include the financial regulators, like Alan Greenspan and his subordinates at the Federal Reserve, the credit rating agencies, like Moody’s and S&P and the big bankers at Goldman, Country Wide, Citibank and elsewhere, who were dedicated to only one thing: paving their own road to riches by promoting widespread “debt owe-nership” that would lead to the ruin of millions of middle class and poor Americans.
…

Read all about this building block and tell me this is not the best solution out there!
http://www.e-crete.com/

But in spite of the authors’ desire to highlight the role of Fannie and Freddie, (the so called Government sponsored enterprises - GSEs - that helped finance home mortgages and after failing in 2008 have been taken over to the tune of 180 billion dollars by the tax payers) what comes through clearly from the dozens of interviews and reporting in Reckless Endangerment, the real culprits were not primarily Johnson and his pals, but rather the political establishment. These include the financial regulators, like Alan Greenspan and his subordinates at the Federal Reserve, the credit rating agencies, like Moody’s and S&P and the big bankers at Goldman, Country Wide, Citibank and elsewhere, who were dedicated to only one thing: paving their own road to riches by promoting widespread “debt owe-nership” that would lead to the ruin of millions of middle class and poor Americans.…
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