The Moral Of The Story
A weekend topic on a series by Las Vegas Now in Nevada. “The Las Vegas housing market has finally emerged from a long dark period. Home sales are up, home values are way up, and the tens of thousands of jobs lost during the economic collapse have been recouped, according to state officials. But there are warning signs that we might be headed for another housing bubble, and some financial experts warn that we should not forget the lessons learned since the bubble burst almost 10 years ago. For a period, there were 300 foreclosure evictions per day in Clark County — 130,000 in a four-year period. Las Vegas led the nation in ways no one could have imagined.”
“The human cost was staggering. Beatrice Cortinas and her husband moved from their home of many years into a tent in their backyard. They fought the bank, but now, five years later, they’ve finally conceded defeat. ‘I work all my life for this house, and then now it’s gone,’ said Armando Cortinas. ‘It’s been very hard,’ said Beatrice Cortinas. ‘It’s been very hard.’”
“Attorney Tisha Black represented many developers and homebuilders. She knows of 26 suicides. Black notes we still have not seen the full brunt of the previous collapse. ‘In the last six months, I’m getting some new cases on short sales and loan modifications. We’re still top five consistently in foreclosures. A full quarter of our inventory have still not dealt with being underwater,’ Black said. She believes more is coming.”
“There was plenty of blame to go around. Federal regulators who failed to do their jobs, investors and homeowners looking to get rich quick, but the fingerprints of Wall Street banks were all over the crisis. Bankers paid tens of billions in fines, but despite engineering the largest theft in human history, none of them went to prison.”
“Eleven trillion dollars — that’s how much personal wealth was wiped out by the housing crisis that erupted in 2007. No city in America suffered more than Las Vegas. Wall Street banks were slammed with huge fines for their role in creating the financial meltdown, but none of the big players went to prison. So, would bankers do it again if they could?”
“Philanthropist and former Wall Street analyst Heather Murren spent 18 months working on the commission which investigated the financial meltdown. Banks were allowed to create the risky instruments that were used to defraud millions of homeowners and investors. The commission uncovered direct evidence of crimes. ‘We handed folders over to the Department of Justice that said these things we believe that people did were illegal, but no one has actually gone to jail,’ Murren said.”
“Attorney Tisha Black helped write regulations that shut down the robosigners here. Nevada authorities tried to go after the banks on criminal charges, but states had to back off when federal authorities brokered a settlement. Wall Street agreed to billions in fines, but none of the big bankers were personally prosecuted and for Wall street, that is the moral of the story.”
“‘It’s the morality. There is no morality. They don’t answer to anybody, really. They might get hauled in front of Congress for an embarrassing three-hour session and they’re done. A lot of people would deal with that for a $30 million dollar paycheck,’ Black said.”
“Hundreds of millions of dollars were set aside to help Nevada homeowners after the housing crash. The US Treasury reports in 2011, it was estimated Nevada’s Hardest Hit Fund would help nearly 24,000 homeowners, but this year that estimate was reduced to just more than 8,000. By last March, just more than 5,000 received help. Only 37 percent who applied were approved. Many who started the process gave up because they waited so long for an answer.”
“Mark Bourque is attending a workshop to learn how to stop foreclosure on his home. He says he had tried to get help from NAHAC but hit a dead end. ‘With anything, you want the money to go where it’s intended for because people need help, they need it now,’ said Mark Bourque, attending foreclosure workshop.”
“Eight years after the housing crisis, foreclosure is still so much of a problem, Legal Aid Center of Southern Nevada has free workshops twice a month to help educate people. According to Realty Trac, there are more than 8,000 homes in the process of foreclosure and Las Vegas is listed as a U.S. metro area with one the highest foreclosure inventories.”
“‘A lot of people believe that this problem is behind us and everything is okay and if it was, we wouldn’t still be having this class,’ said Venicia Considine, Legal Aid Center of Southern Nevada. ‘We still have people everyday that come in here that look for assistance, we have people who are losing their houses.’”
“Options to help struggling homeowners keep their homes five to 10 years ago like home equity lines of credit and modifications are ending. Now their payments are going up. Plus some programs offering aid will shut down by the end of this year. ‘It seems like there’s this belief that everybody’s fine and everybody is not fine,’ Considine said.”
“That includes Beatrice and Armando Cortinas. The I-Team first met them in 2011 when they were living in their backyard as they faced foreclosure. ‘I was just in shock. I couldn’t believe they were throwing me out of my house,’ said Beatrice Cortinas. Five years later, the couple rents a home down the block from the house they continue to insist is theirs. They still kept their dogs and some of their belongings there. ‘I would be able to be paying my house instead of paying this one,’ Beatrice Cortinas said.”
“Back at the workshop, the foreclosure process is a newer challenge for Gia Sinipoli. She says she can’t afford her mortgage after fighting an illness and she has no money for an attorney. It’s the reason she is at the free workshop. She is looking for help and hope. ‘It’s just really stressful to think that every day you have to worry about where you’re going to live,’ she said. And she’s not alone.”
I still and the peeps that bought more than they could ,or were willing to pay.
“Fought the bank”
Like they were heroic.
B@)hhh
What were you drinking when you posted this? Also, are you on a 56K modem, or have to pay a tax for every character you type?
If you want to see how millennials are being conned into the current real estate bubble, I came across this video a few days ago, I couldnt even watch it completely due to the cringetard (<-just invented a new word here) factor, but hes got what looks like a zillion videos where he shows off his mansion, cars, helos, etc. all the while talking about how to get rich. Sucker born every minute:
How To Invest In Real Estate With Little Money or Experience
https://www.youtube.com/watch?v=OFVZlar041Y
https://www.youtube.com/watch?v=iQNdi-fRExc
Many HELOC Borrowers are in for a Shock
‘From now until 2018, many Home Equity Lines of Credit (HELOCs) borrowed during the housing bubble years of 2005 to 2008 will reach their 10-year end of draw period—and many of the borrowers will not be prepared for the payment shock they will be facing, according to a survey from TD Bank.’
‘The bank’s HELOC Reset Measure, which surveyed approximately 800 U.S. homeowners with HELOCs, found that nearly one-quarter (23 percent) of HELOC borrowers did not have a plan in place to handle increased payments once they reach their end of draw periods. The housing boom saw unprecedented numbers of HELOCs as homeowners looked for convenient ways to borrow in the midst of soaring home prices for major expenses such as college tuition, home improvements, and medical bills.’
‘The survey found that many HELOC borrowers were unaware of the HELOC reset date despite communication from lenders. More than half of respondents (53 percent) who borrowed HELOCs between 2005 and 2008 said they were unaware of how the reset will affect their payments.’
‘Only 19 percent of survey respondents were aware that a HELOC reset meant that their payments will increase. Not only that, but misconceptions existed around the end of draw period—more than one-third (34 percent) of borrowers polled said they believe their payments will be reduced after a HELOC reset.’
‘Not all borrowers with HELOCs were unprepared, however. More than one-quarter of survey respondents said they plan to refinance their HELOC into another loan, and nearly 70 percent of those borrowers said they plan to seek advice from their lenders.’
I helped create this, specifically in 2004-2005
My guess is that the banks will replace the HELOC with a new loan to replace it. Of course, there will be fees associated with the new loan.
If someone owes $1,000 and it gets reset to pay at 4% on a 15 year amortization schedule, then the monthly payment becomes $7.40 (per thousand borrowed). Compare this to an interest only payment of $3.33 (per thousand) at 4%.
If someone owes $50k, then the figures become $370/month versus $166/month.
I have no idea if the 4% rate used in the illustration is in line with the market, but it shows that the monthly payment will more than double.
Banks will just charge them some points, add it to the balance, reset the payments, and kick the can down the road.
“the banks will replace the HELOC with a new loan”
Might be problematic for those of them that are underwater.
That would be the majority of sales in the last 16 years. DebtDonkeys saddled with rapidly depreciating assets, massive life long mortgage payments and crushing financial losses.
How many died in the wool debt donkeys actually have an extra $300 a month?
Mark Hanson has been on this for a few years now, with data showing huge numbers of resets that should have started accelerating as early as 2014. From one of his graphs:
Year # of Heloc Resets Total Dollar Volume (aprox)
2015 890,730 $42 Billion
2016 941,548 $44 Billion
2017 906,722 $45 Billion
But we haven’t heard a single sob story so far from the 890,730 people whose helocs allegedly reset last year. I’ve thought for a long time that these loans are being quietly rolled over for another 10-year interest-only term. The banks, or whoever holds the paper, have zero incentive to do otherwise.
Pdf with figures here: http://tinyurl.com/jojqys6
When you and everyone else is up to your gills in underwater debt, just extend the term, add more debt.
It’s the ‘Murican way….
We have about $9T of debt, so each year, the resets represent less than 0.5% of total mortgage debt. Even a major level of default on the HELOCs would be a blip in the grand scheme of things…especially since the estimate I’ve seen is that 15% of the HELOCs from the worst vintages are partially or wholly underwater.
That 15% of HELOCs represent approximately $6-8B of debt that is resetting each year.
Mark Hanson references the Black Knight Mortgage Monitor (which is the source of lots of his charts/graphs). The link below is to the most recent Mortgage Monitor that updates the charts/graphs on HELOCs.
Each vintage has a spike in delinquency, but then each vintage delinquency goes down again. My guess is that it goes down because 85% of the borrowers have equity that they can tap (refi, or sell) to solve the spike in payment.
http://www.bkfs.com/Data/DataReports/BKFS_MM_Jul2016_Report.pdf
I’m not sure how old the data is from Hanson’s paper, but my guess is that it’s 2+ years old based on how much data they have.
Irrelevant.
What matters in this case is the fact the HELOC debtors are already carrying massive amounts of debt.
Let’s call this new loan class the FeelLock in honor of the high level of security associated with this conjured asset type.
many Home Equity Lines of Credit (HELOCs) borrowed during the housing bubble years of 2005 to 2008 will reach their 10-year end of draw period
Does anyone know what the typical loan-terms are for HELOCs at end-of-draw? I don’t really have a sense of how significant it will be.
“34 percent of borrowers polled said they believe their payments will be reduced after a HELOC reset.”
REDUCED!! I guess this is what happens when they don’t teach money management or math or logic in schools.
“Listen you. When you gave me that money, you said I wouldn’t have to repay it till the future. This isn’t the future. It’s the lousy stinking now!” - Homer Simpson
‘From now until 2018, many Home Equity Lines of Credit (HELOCs) borrowed during the housing bubble years of 2005 to 2008 will reach their 10-year end of draw period—and many of the borrowers will not be prepared for the payment shock they will be facing, according to a survey from TD Bank.’
It seems like the payment shock bogeyman has been trotted out by the MSM on a regular basis since 2006 or so. Will this really matter much at some future point?
‘Western Pennsylvania is home to a pair of the top 10 “most haunted housing markets” in the United States, a national real estate research firm has found. The city of Duquesne and the 15104 ZIP code encompassing Braddock, North Braddock and Rankin ranked Nos. 3 and 4, respectively, on Attom Data Solutions’ report of “America’s Spooktacular Zips,” which used the premise that areas with the highest proportion of vacant homes and dead homeowners are the “most likely to be haunted.”
‘In Western Pennsylvania, “there’s too much supply for demand, which is the reverse of what we see in a lot of the rest of the country,” said Daren Blomquist, a senior vice president of Irvine, Calif.-based Attom Data Solutions. “That means home prices are probably stagnant or going down, and it’s a downward spiral because it isn’t just that there’s more supply, but vacant properties become blight. They fall into disrepair and even further drive down values and the quality of the neighborhood.”
‘Josh Caldwell, president of the 1,150-member Pittsburgh Real Estate Investors Association, said he favors private-market solutions over the likes of land banks and demolition, which he fears can lead to too many vacant lots.’
“The problem is that so many of these houses are encumbered with back taxes and various liens to the point where it makes them economically infeasible for anybody in the private sector to do anything with them,” Caldwell said. “If I have to put $50,000 into something that’s going to sell for $30,000 when it’s done, then I’m a moron. The houses get trapped in a cycle where they just become derelict.”
How can you own a home if you are dead? Wouldn’t ownership revert to the government or the deceased’s estate?
If there is zero or negative net value in the estate, no one files to open probate with the courts—because it would be a waste of the court fees involved. In that case, ownership wouldn’t change until the unpaid property taxes results in a tax foreclosure.
Public union goon pensions will be paid.
By the time Yellen the Felon gets done debasing the currency, those monthly public union retirement checks might be just enough to buy a can of beans, and maybe catfood if they really want to splurge.
Love how all the talk is for a rate hike after the election. A55holes must be worried about all that inflation from that 100K Taco Bell wants to hire!
This is the same federal reserve involved with holding a percentage of kurdish oil revenues, billions of which got “lost” in order to manipulate the oil market
https://wikileaks.org/podesta-emails/emailid/48234
Par for the course, this goes way back:
http://www.washingtonsblog.com/2011/06/federal-reserve-shipped-billions-to-iraq-which-were-then-stolen-involved-in-other-unsavory-activities.html
‘Squatting ‘Brood’ gang busted in Powellhurst-Gilbert. Neighbors in the vicinity hope things will quiet down, now that these residents have been asked to move on. But several of those arrested are already back on the street.’
‘According to public records, the house – actually a house and a “condo” building behind it – at 5320 SE 122nd Avenue, one house south of Steele Street – went into foreclosure, and was set for an “Auction Date” of February 13, 2015. The City of Portland Bureau of Developmental Services (BDS), the agency that investigates and works to solve neighborhood housing violation complaints, posted their first Nuisance/Residential Rental Complaint on January 2, 2015.’
‘It took until May of that year for the owner, US Bank designate, Ocwen Loan Servicing LLC of West Palm Beach, Florida, to clean up the property. For the next year, neighbors kept complaining, while BDS continued working with the title holder. A new complaint was lodged on August 16, 2016.’
“Vacant townhouses have no utilities, but lights are seen on at night, and trash and debris is piling up around garbage cans and on ground. No garbage service.” BDS mailed notices to the owner and re-inspected the property, but problems continued to mount. “People have been living in there, all right,” a neighbor confirmed – who asked not to be identified, for fear of retaliation. “And this isn’t a poor, homeless family that needs shelter from the cold; I’m pretty sure it’s a gang selling dope, stealing stuff – and who knows what,” the neighbor told East Portland News.’
“The search warrant was part of an investigation being conducted by SIU, in cooperation with the Portland Police Bureau’s Neighborhood Response Team,” reported MCSO Public Information Officer Lt. Chad Gaidos. “Further investigation revealed the occupants of the home were members of the Brood street gang, who had moved into the homes after they had been left vacant,” Gaidos added.’
‘It appears that Brood members have been selling methamphetamine, stealing cars, and trying to take over the entire property, Gaidos pointed out. “Five suspects were arrested, and detectives recovered methamphetamine, scales, packaging material, a stolen vehicle, and items used for ID theft.”
Yeah, see, this is what happens when lawlessness trickles down from the “top”. Banks, lenders, servicers facilitate these gang/drug houses and don’t give a flip about people who have to live with this crap, many of whom don’t have the resources to move away. “The law” actually protects the criminals. Police shrug, complaints get filed, nothing happens for a long time and people just have to cower and live with it.
Until they can’t take it anymore and someone gets popped.
Ocwen are the main thugs here.
The fish may rot from the head first, but the corrupt high and mighty at the top always have millions of enablers who vote for the corrupt and venal.
“millions of enablers who vote for the corrupt and venal.”
Well, as we’ve learned in this election cycle, there may not be as many evil voters as you thought. Certainly we’re learning that there seem to be many dead and non-existent voters, as well as rigged machines.
With that said, yesterday I went to cast my early vote. The polling station was packed. Early afternoon on a Friday. Interesting mix of people: retirees, tatooed welfare-looking types, a number of butch looking women all partnered up, some younger working/professional types that looked to be on a late lunch hour, also some local government workers sporting their government logo shirts. And across these groups, pretty much all the races seemed to be represented. Of course, this was my general impression.
But I also got the general impression that a good part of that particular crowd were Hillary voters more than Trump voters. It was palpable, at least to me. There was a mood of furtive resentment in the air.
A prime example: Bernie Sanders, who it turns out was controlled opposition all along. Raised hundreds of millions from hopeful leftists, which then got sucked up by the DNC and into Hillary’s war (lol?!?) chest. In the end he got a waterfront mansion for his acting skills:
https://twitter.com/wikileaks/status/794756750926876672
I repeat, it was a scheme all along to have a phony that would invigorate the left, take their money, then co-opt their support for the clinton mafia. Bernie violated the non-attack agreement when it looked like he had a chance at winning, but then he was quickly “brought to heel”.
“When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it.”
― Frédéric Bastiat
I trace this financial/banking lawlessness of recent times (goes way back, but for the purposes of housing in recent decades) to Slick Willy’s presidency and his enthusiastic signed of the legislation that did away with Glass/Steagall and NAFTA. Both bi-partisan efforts, BTW.
Even during the 1980s, early 1990s, we had the Resolution Trust Corporation and the banks and lenders cooperating in clearing housing off the books, allowing people to buy and live in halfway decent neighborhoods. The banks still cared about appearances (they were made to care and be responsive to some degree).
But then it began to decline, as illustrated by the “Squatting Brood” story. And, indeed, why should the small fish care if the big fish don’t?
Cities should take it upon themselves to care. It is their residents that are being hurt the worst.
If cities were aggressive with assessing violations and fines against properties that are not maintained, filing liens for the unpaid fines, and moving expeditiously to foreclosure with those liens, they could circumvent the banks that are not moving foreclosures along.
And yet, cities don’t seem to be doing this. Why not??
Maybe the cities are less aggressive to take action because it’s the well-connected that buy them to turn them around in bulk?
The trickle down of corruption…
There are three levels to the current Constitutional crisis as it pertains to the former Secretary:
1. Top Secret and other classified materials nestled up against child porn on an insecure, not to mention unsanitary, laptop and server. This ties in with destruction of government records and obstruction of justice.
2. Corruption, bribery, influence peddling etc.
3. Insane sex crime stuff similar to the UK government and Hollywood pedophilia rings.
Don’t forget the occult stuff, which is not illegal in and of itself, unless actual children were used instead of effigies. I have to say, I had some bouts of nausea after looking at some of that Marina Abramovic stuff.
The capper was John Podesta’s collection of nude kiddie art as profiled in the Washington Post, which the paper deleted, but is still archived. These are some pretty sick folks.
‘Housing is now unaffordable in many rural parts of California too’
‘People fleeing big coastal cities like L.A. and San Francisco in search of more affordable housing inland could be in for sticker shock. A new report reveals that inland, rural parts of California are increasingly unaffordable too.’
“That came as a big surprise because historically we have thought of the housing problem as being a focus in larger cities, but we found every city has this problem,” said Jonathan Woetzel, director of the McKinsey Global Institute and a co-author of the study.’
‘Woetzel found it is nearly as expensive to live in Watsonville, a small farming community in Santa Cruz county, as it is in Los Angeles. Fifty-seven percent of households in the rural area of Santa Cruz-Watsonville are unable to afford the cost of housing.’
‘In Salinas and Clearlake, which are also rural areas, 50 percent can’t afford the housing. (The study used the U.S. Department of Housing and Urban Development’s threshold to determine what is considered unaffordable. It is defined as when a household spends more than 30 percent of its pretax income on housing.)’
“We’re seeing that the affordability problem doesn’t really change when we move around the state,” said Woetzel. “It’s now a whole state problem that requires a whole state solution.”
‘McKinsey estimates Los Angeles County has between 5,600 to 8,900 vacant parcels zoned for multifamily development, which could accommodate 32,000 to 75,000 new housing units. That would increase Los Angeles County’s housing stock up to 2.3 percent.’
“The good news is that we can close the gap,” said Woetzel. “We have the land.”
‘We’re seeing that the affordability problem doesn’t really change when we move around the state’
Interesting that you can drive across the Nevada or Arizona state lines and land prices miraculously drop. It’s almost like the loan limits handed out along state borders have something to do with it.
We have the land.”
Really, Einstein? Some people here been saying we DONT have the land.
As you likely realize, there is plenty of land in California. Even inside San Diego County, there are huge tracts of land already parceled for future development. However, those who own it trickle the development in drabs and dribbles during the boom times, in order to maximize the developers’ profits and the governments’ tax receipts.
Overpaying for private property in a state lurching towards full-blown socialist dystopia? No thanks.
True, and while they have land, they lack water. Oh, they can pipe it in from far away, via very costly infrastructure littered with old cars and dead bodies which they find every few years. Then they treat it with who knows what so that its virtually a poison. Cali residents/marxist voters get what they so justly deserve!
Cali residents/marxist voters get what they so justly deserve!
No, what they deserve is to be barred for life from moving out of state. Let them stay and stew in their own juices.
Some folks in Cali would like to secede. That would be a relief to all the Hollywood peeps, they wouldn’t have to move to Canada.
http://www.zerohedge.com/news/2016-11-05/california-secessionists-meet-capitol-day-after-presidential-election
You have the land.
As long as you make every increasingly insane property tax payment.
Insane public union pensions will be paid.
Especially in a state that is steaming towards bankruptcy.
“Eleven trillion dollars — that’s how much personal wealth was wiped out by the housing crisis that erupted in 2007.
We ain’t seen nothing yet. The root causes of the 2008 financial crisis were never addressed, merely papered over with $16 trillion in central bank “stimulus” funny money. True price discovery is still lurking out there waiting to impose itself. The Keynesian fraudsters at the Fed and central banks won’t be able to forestall the financial reckoning day indefinitely, despite their deranged money printing and “No Billionaire Left Behind” monetary malpractice. In fact, central bank “extend and pretend” will make the next financial crisis that much more cataclysmic.
11 T lost in housing. About 6 T printed of which 5 T used to repurchase shares. Another 10 T (doubled) in gov deficits.
In other words, in the last 8 years 26 T went down the rat hole !!
Nothing was fixed.
A perpetual motion money machine. Seems legit to me.
You are peddling fiction.
Now eat your peas.
Will peas be on the menu in Dear Leader Hillary’s gulag for Irredeemable Deplorables? Will we get to grow our own vegetables?
“Hundreds of millions of dollars were set aside to help Nevada homeowners after the housing crash. The US Treasury reports in 2011, it was estimated Nevada’s Hardest Hit Fund would help nearly 24,000 homeowners, but this year that estimate was reduced to just more than 8,000.
This chaps my a$$. Why should prudent, responsible people who wisely stayed on the sidelines during the housing bubble have to pay a single dime to alleviate the financial consequences of the idiots who took on reckless levels of debt to buy an overpriced house? Where are the consequences for stupidity and greed? How many of these FBs were willing participants in the mortgage fraud that enabled them to “buy” these houses they clearly couldn’t afford?
Agreed—one of the most short-sighted policies _ever_ enacted; it punishes the responsible by forcing them to subsidize the foolish and profligate.
“That includes Beatrice and Armando Cortinas. The I-Team first met them in 2011 when they were living in their backyard as they faced foreclosure. ‘I was just in shock. I couldn’t believe they were throwing me out of my house,’ said Beatrice Cortinas. Five years later, the couple rents a home down the block from the house they continue to insist is theirs.
News flash, Beatrice and Armando: until your final mortgage check clears, it ain’t “your” house. Some of these FBs seem to have a very tenuous grip on reality and seem devoid of any sense of personal responsibility and accountability.
Five years later…
Not a mortgage payment has been made.
But the house is still “theirs”
I bet they made the property tax payments.
Public unions goons don’t play like banks.
“That includes Beatrice and Armando Cortinas.
Ha, yeah, these two are priceless; some of my favorite bits were snippets that Ben didn’t quote:
“They took my house for nothing,” Armando Cortinas said.
Wow, for nothing—that sounds like a wrongful foreclosure! Let’s check…
Oh wait.
The couple had trouble making payments after Beatrice says Armando’s construction hours were cut.
Oh, ok—they took your house for not making payments. Yeah, that’s the typical reason for a foreclosure. An it definitely doesn’t sound like “nothing” to me.
It gets even better with a bit more context:
It was a familiar story in Las Vegas during the housing crisis.
But Beatrice insists — after filing for bankruptcy — mortgage payments were made but the checks were sent back.
The couple even filed a lawsuit to fight for their home which they didn’t win.
“They took my house for nothing,” Armando Cortinas said.
Sounds like they should have read their mortgage agreement at signing; in a typical agreement, one of the terms is that after you default, you remain “in default” until you make a full catch-up payment: that would include all payments that are in arrears, plus penalties and interest. So sending a single payment, and then complaining that it was returned—not gonna work, nice try, but please don’t play again.
Camping in the yard, while keeping their stuff and their dogs in the house.
Oh dear….
http://www.shtfplan.com/headline-news/fbi-cia-nypd-officials-set-to-drop-the-hammer-video-evidence-of-bill-clinton-and-six-government-officials-taking-part-in-sexual-acts-with-minors-to-be-released-before-election_11052016
This 4-chan, anonymouse, kim dotcom stuff has been floating around for a while now. I’ll believe it when I see it.
Meanwhile, there’s enough existing evidence of pay for play, treason, obstruction, fraud, etc. to put a number of these characters away for a long time. Oh, but WAIT, now we have to have actual tapes and proof of pedophilia, or nuthin’s gonna happen. Jeebus.
“shtfplan”
Nice guys I’m sure, but is that really a source of factual information?
lol, Blue, it’s probably a better source of factual information than much of the MSM. With that said, Bret Baier at Fox said much the same thing and then had to walk it back a bit.
Seems like a number of people are getting faked out by their “sources”.
I don’t put too much stock in most of these SHTF articles, which tend to be sensationalist. However, I don’t think it’s possible to underestimate just how sleazy the coterie around the Clinton Crime Family really is.
“I don’t think it’s possible to underestimate just how sleazy the coterie around the Clinton Crime Family really is.”
I’m tellin’ ya. Pretty vicious and catty bunch, as revealed by the Wikileaks emails.
Facts don’t matter at all to Trump’s minions.
When will municipalities start holding George Soros financially responsible for the antics of his rent-a-mobs?
http://www.foxnews.com/us/2016/11/04/man-must-pay-1m-restitution-for-cutting-hose-during-baltimore-riots.html
Shoe-shine-boy moment ahoy!
For those who didn’t read here in the pre-2008 period, Roger Showley was a major San Diego real estate cheerleader in the runup to the last crash.
Business Growth & Development
‘Double-header’ recovery ahead, says real estate center
Roger Showley
The economic recovery, now 88 months old, may experience a “double header” in real estate rather than a cyclical downturn.
So says the annual “Emerging Trends in Real Estate” report out from the Urban Land Institute, a Washington, D.C. think tank of developers, builders, architects, financiers and planners.
…
We have been in a recovery for 88 months…????
Now that is peddling fiction
As state tax revenues tumble in our Obama-Fed-Goldman Sachs “recovery,” houses are going to be juicy, illiquid assets for the taxman to extract wealth from. Forward!
http://www.zerohedge.com/news/2016-11-05/goldman-fears-persistent-headwind-growth-statetax-revenues-tumble
Insane public union pensions will be paid.
No matter what.
First Grandma Marian Robinson to Receive Lifetime $160K Government Pension
By Lorne Armstrong -
October 17, 2016
Unreal.
Whoops. Likely unreal; still looking. If untrue, good. My head almost exploded.
Fake click-bait, according to Snopes.
I knew that had to be fake, there is no way $160k a year would support the lifestyle Moochelle Obama’s mother has become accustomed to over the last 7+ years.
We ain’t getting off that cheap.
Ha! Good one, phony…
In reality, I’m sure that she will be VERY well cared-for, as the Obama’s build their own billion-dollar payola foundation.
lol en’z
Please don’t worry about it Tarara everybody had to check, it damn sure isn’t out of the realm of possibility.
“Options to help struggling homeowners keep their homes five to 10 years ago like home equity lines of credit and modifications are ending. Now their payments are going up. Plus some programs offering aid will shut down by the end of this year. ‘It seems like there’s this belief that everybody’s fine and everybody is not fine,’ Considine said.”
There still seems to be this prevalent view that those who willingly signed up for subprime loans to enable them to overpay for real estate purchases they could not afford are victims. I have yet to see a shard of evidence that someone put guns to their heads and forced them to sign the contracts.
But maybe they have a point, in light of the fact that it is their government that is primarily responsible for pushing subprime mortgages.
What ever the government controls - it destroys.
Healthcare
Higher education
Housing…
To include subprime borrowers.
500,000 bankers lost jobs
Gov workers as v ing US from bankers grew
Their about to grow more
Dont forget, clean air, clean water, safe food, police, fireman and free education.
Don’t worry, people wont cheat and poison everything if we drop the rules and regulations. Trust them. That burger is 100% beef!
So, a corrupt and bloated government in the pocket of the financiers is the only way for us to get a righteous burger? Amazing perspective.
“New attitude” looks suspiciously like MightyMike.
You seem to think those agencies aren’t largely captured. Their original intent was to serve the public, but they now exist to water down the concepts of cheating and poisoning so that their top administrators can become highly-paid lobbyists and corporate executives later.
Today’s exclusive wine tasting event at the beach with music and great food. Loan owners don’t have the time or money for this sorta fun.
Looks like the wealth effect should trickle down any time now
“THE Monaco Yacht Show, which ran from September 28th to October 1st, is arguably the world’s most extravagant game of one-upmanship….Monaco is essentially a bazaar for the 0.1%
In this world, size counts for a lot. The bit of the yacht industry that has recovered most strongly since the financial crisis is the “monster yacht” segment. ”
http://www.economist.com/news/business-and-finance/21708202-procuring-superyachts-worlds-most-extravagant-game-one-upmanship-glimpse-inside
Heckova job, Yellen….
Labor Force Participation Rate Falls To 38 Year Low; Joblessness At Record High
http://www.cnsnews.com/news/article/susan-jones/americans-not-labor-force-participation-rate-risesdrops
If I see the terms “bombshell” or “smoking gun” one more time, I’m gonna react with a big technicolor yawn.
Elizabeth Taylor.
James Arness.
Not such bad words in the right context. Maybe you should turn the “news” off more?
“Maybe you should turn the “news” off more?”
I did turn off the mainstream stuff, except for the local news on occasion. I don’t even look at the google news aggravator page.
However, some of the “alternative” stuff is starting to irritate me big time. Everything is “breaking” a “bombshell” and a “smoking gun”.
There have been a few things that could be considered one or all of the above, but unfortunately it looks like the FBI and Justice Dept. are deadlocked ahead of election day.
I think there are so many curtains, veils, bullshit and guessing that we don’t really know now. At least that’s what I get from reading lately.
Yeah, me too. The only thing that was a breaking massive red alert bombshell was the FBI re-opening the case against Hillary due to Weiner’s emails. Everything since has been rumor and speculation.
The real dirt is with the Clinton Foundation and its many tentacles. That is where the focus should be.
We need to get houses levered up to 60x so the payments are less and people have more money to spend at walmart.
Kenmore, WA Housing Prices Crater 11% YoY
http://www.zillow.com/kenmore-wa/home-values/
Go away, HA. Prices aren’t dropping here. If anything, they are increasing thanks to more Chinese buying here now instead of up in Vancouver.
Cheer up my good friend and remember….. Nothing accelerates the economy, creates jobs and raises the standard of living like falling prices to dramatically lower and more affordable levels. Nothing.
San Juan County, WA Housing Prices Crater 8% YoY
http://www.zillow.com/san-juan-county-wa/home-values/
You’re not my good friend, and continue to cherry-pick data to fit your own narrative, which for the greater Seattle area is completely untrue at this point in time.
Whe’re all good friends here. Lighten up. Prices are falling in Kenmore and San Juan county. The data is the data.
Moody’s is still shilling for the companies that pay for its bogus ratings.
http://wolfstreet.com/2016/11/05/moodys-spare-me-falsehoods-corporate-overseas-cash-already-in-u-s/
u know the earnings are fraudulent, why buy this cr@p? The corporations have enriched themselves. they cant seem to hand the sh@t off to the greater fools.
Crashed Tesla Explodes Into A Massive Fireball
http://mashable.com/2016/11/04/fatal-tesla-crash-batteries-fires/#XFESxxHcxaqC
D E A T H T R A P S
While Trump is filling stadiums, only a few listless Democrat apparatchiks, empty-eyed future cat ladies, and bused-in entitlement voters can be found at Tim Kaine’s pathetic “rallies.”
http://www.thegatewaypundit.com/2016/11/three-people-line-see-tim-kaine-florida-photos/
Is the strain of a tight race turning Trump into a coward?
Is it turning Hillary into a shrieking monster?
And the cough is back . . .
It seems you are the one in panic..
Hitler filled stadiums.
Just sayin’.
And Hillary is not.
Just sayin’.
Obama fills stadiums = Oh that’s so great! It’s a movement he has a support of large electorate.
Trump fills stadiums = Hitler!
Jesus, I must live in Orwell’s 1984.
Hence I welcome the Civil War. That’s the only way.
The whole “Hitler” thing has been done to death, PB. It carries no more sting and is worn out from overuse. Sorry, you need to come up with some other spurious pearl-clutching term.
You somehow missed my point that a stadium filled by an angry, irrational mob isn’t necessarily a good thing, as evidenced by Hitler’s stadium-sized throngs.
Trump’s deal to help elect Hillary by handing her the Latino vote is working according to plan.
Trump Has “Almost Certainly” Lost Nevada, as Latino Turnout Surges in Key States
By Daniel Politi
Hillary Clinton greets early voters near West Miami City Hall on Nov. 5, 2016 in West Miami, Florida.
Justin Sullivan/Getty Images
Donald Trump is campaigning in Nevada on Saturday, but data is suggesting the state is a lost cause for the Republicans as a whole. Trump was already facing a seriously uphill battle in Nevada anyway, but “now he needs a Miracle in Vegas on Election Day … to turn this around,” according to KTNV political analyst Jon Ralston, who said Republicans “almost certainly lost” the state on Friday. What happened? Quite simply, a lot of Latinos turned out to vote early in Clark County, which is home to Las Vegas and more than two-thirds of Nevada’s active voters.
The record-breaking number of early voters means that Democrats have a firewall of around 73,000 ballots in the state, which is larger than the advantage that President Obama had in 2012, when he won the state by almost 7 points. Without Nevada, Trump’s possible path to the presidency narrows greatly.
…
LOL
Trump is getting higher percentage of votes from Hispanics and Dems compared to Romney.
Unless they rigged the polls, Trump will do better than Romeny. Will that be enough to win NV? We will know in 3 days. However it perfectly fits with the narrative that they have been pushing lately. Remember, Trump has only 2% chance to win republican nomination? Midwest and mid altantic states looking better and better for Trump. NV may not even matter.
Better fact check your sources. Or not.
…
Mitt Romney, the Republican nominee, tacked right on immigration to navigate a crowded primary field, along the way calling for undocumented workers to “self-deport.” In the general election, he won only 27% of the Latino vote, a steep decline from the 44% that comparatively reform-friendly George W. Bush won in 2004. Now just four years later, Trump looks on track to pull just half the support Romney earned from the demographic. And that performance will amount to an even heavier drag on his prospects, thanks to what appears to be record Latino turnout already materializing across the map.
…
Which poll was it based of? From that 12% Clinton lead or that statistical dead heat just a couple of days later?
You will pull out another propaganda piece is not a surprise o most people on this blog.
It was an article in normally conservative Forbes Magazine, which I am sure has given in to the anti-Trump conspiracy to report rigged poll numbers.
I link my sources, which you conveniently ignore. But I guess we won’t ever know which pro-Trump news outlets you are quoting, as you don’t bother to link your sources.
normally conservative Forbes Magazine
It’s fortune first of all not forbes. You gotta know the difference between fortune and forbes….don’t you?
Are you fooking this daft?
In this election, is there even such a thing as conservative vs liberal? So called conservative stalwarts are openly supporting Clinton…don’t you know that? I mean you gotta be the thickest headed mofo in this blog. Sure there are few publications that support Trump, but you must know that 99% of so called conservative and liberal publications and its publishers/editors/writers are all in for Clinton. Jesus! Some people……Have you read any of the wikileaks? Or that’s just another pro-Trump news outlet?
“Are you fooking this daft?”
Profanity shows a lack of vocabulary.
National Poll Shows Donald Trump Surges Among Hispanics, African Americans
Donald Trump is favored by one-in-four African Americans and one-in-three Latinos, according to a poll conducted by the Boston Herald and Franklin Pierce University. The poll of 1,025 likely voters was conducted by RKM Research for Franklin Pierce University and the Boston Herald, from Aug. 31 to Sept. 4.
Overall, Franklin Pierce gets good marks for its polls and the results are in the same ballpark as many other polls. For example, the poll showed Clinton ahead by three points, 44 percent to 41 percent. Eight percent of respondents back Gary Johnson.
The poll showed that Trump has a very favorable rating among among 18.4 percent of 105 Hispanics, and 10.5 percent of 101 African Americans. He also scored a “somewhat favorable” rating among 16.4 percent of Hispanics and 13.3 percent of African Americans. Combined, he gets a positive rating from 35 percent of Hispanics and 24 percent of African Americans.
That’s apparently better than Gov. Mitt Romney, whose nationwide ballot-box score in 2012 was 27 percent support among Hispanics and 6 percent of African Americans.
Trump isn’t going to win a majority of either bloc. Forty-nine percent of Hispanics and 69 percent of African Americans have a “very unfavorable “ view of Trump. But every percent of Hispanic support helps Trump in the critical state of Florida, and every percent of African American support helps Trump in a few northern states, such as Ohio, Michigan, and Pennsylvania.
Breitbart? Rasmussen?
Breitbart? Rasmussen?
Can’t you read?
Yes, I can read. There are no links to any references, leaving the reader to wonder if you made up the post.
Poway, CA Housing Prices Crater 6% YoY
http://www.zillow.com/poway-ca/home-values/
Uh-oh, secret service rushes Trump away during speech in CO.
Looks like Hillry goons have realized that they have lost it already. Violence is the only option for these fookers. It is clearer and clearer that Trump will not serve 4 years, he will be assassinated before he completes his first term.
I’ve got 5 dollars that say he won’t.
This is pretty cool:
Our Alaskan Winter, 1949
https://www.youtube.com/watch?v=tsbrjBsj4P8
Have you seen Trump’s political ad aimed directly against the globalist?
I happened to stumbled upon today. He has Soros and Blankestein from Goldman in that ad. If that doesn’t even give a pause to hillry supporters….I mean this country is fooked beyond repair. Civil war is the only option.
I don’t think so.
https://www.youtube.com/watch?v=1-UQhjv-q98
Janet’s on that ad too.
Best election ever. Bring on the civil war.
It’s a good ad. No need for violence, just vote.
The only problem is Hillry voters (well most Trump voters, too) probably have no clue at all who these people are on the ad.
Still gotta give him the props for running directly against yellon, soros, blankenstein & other globalists.
Fook dem globalists!
Butters is showing his true colors by trying to ignite a civil war right here on the Housing Bubble Blog.
Too late, mofo! You already did your job by voting the frauds and corrupts all your life. You reap what you sow!
Get back in your rage cage, butters.
Speaking of globalists, have you been to Istanbul lately? I hear is chock full of Mooslims.
Election 2016
Trump’s Foreign Business Entanglements Would Create Unparalleled Conflicts
His adult children, who would run operations if their father becomes president, have long dealt with politically connected firms and individuals, an overlap of business and politics unseen in the modern White House
Donald Trump visited shops with his daughter Ivanka Trump in the newly inaugurated Trump Towers Istanbul Mall in April 2012. Photo: TOLGA BOZOGLU/European Pressphoto Agency
By Alexandra Berzon
Nov. 2, 2016 6:39 a.m. ET
…
“This is pretty cool:
Our Alaskan Winter, 1949″
I’ll have to watch that one. I really enjoy watching those Dick Proenneke films, the Alone in the Wilderness series. To all of a sudden, at age 51, decide to go off to a remote part of Alaska and match wits with the environment and be fairly self-sufficient, build one’s own cabin, furniture, etc. and live life for the next 30 years is an amazing thing to do.
https://www.youtube.com/watch?v=iYJKd0rkKss
https://en.wikipedia.org/wiki/Richard_Proenneke
I watched the whole film. It was something. I’ve seen Proenneke’s films too, very inspiring.
Will the panda bear comment on this? He must hate violence, no?
Or was it Trump’s fault to begin with…He must have incited the violence by talking about po folks, right?
This is over.
Des Moines Register: Trump Opens 7-Point Lead Over Clinton
That’s 13 points turnaround from Romney. This will put WI, MN in play.
Hillaryous is unelectable.
LA Times Reporter Fired After Tweeting He Wants Trump Dead
Ah, the lovers of peace, humanity and understanding. They have nothing but contempt for anyone who even questions them.
Watching a high school production of Arthur Miller’s play, The Crucible. The plot is about the Salem witch trials, but it is also a metaphor for the McCarthy-era communist witch hunts.
It’s like watching a preview of Trump’s America.
No different at all from Bush’s, Obama’s or Hillry’s America.
Regardless who becomes president, Trump/Bernie already won. There’s nothing but fun in this country’s immediate future. LOL
Since Trump has not yet occupied the WH, I base my views on the stuff he says and does on the campaign trail. But it’s hard to notice these things when you’re constantly wearing beer goggles.
Look in the mirror who’s wearing the beer goggles?
You.
“a metaphor for the McCarthy-era”
What threatens our society today isn’t witches or commies. It’s corrupt lawbreakers serving themselves. Why are you so afraid of rooting them out?
8 years of Bush rightfully got us Obama.
8 years of Obama will get us a civil war. What a fooking legacy!
We have a long history here of how to go to war without violence and death.
https://en.wikipedia.org/wiki/History_of_lacrosse
Elections are the modern way of settling how we want things in the government. It’s no accident the process is called a “political campaign”.
Shocked CNN Admits Clinton Has Dropped Below 270 On Electoral Map
Clinton Foundation Admits It Broke The Law In Leaked “Smoking Gun” Memo
Julian Assange’s Most Incendiary Interview: “Hillary Clinton Is The Central Cog Of The Establishment”
Leaked Email Exposes Hillary’s Campaign Paying For Bill Clinton’s Legal Fees
Uh-oh
Clinton Looks To Reinforce Michigan As Internal Polls Tighten
CNN
This can’t be a bullish indication.
Cash at Buffett’s Berkshire Hathaway hits new record with stock market near highs
By Steve Goldstein
Published: Nov 5, 2016 4:05 p.m. ET
…
How many more times will oil have to fail to hold support before investors realize the bull is dead and buried?
Oil
Investors grow less bullish on US oil futures
Net long position in WTI crude hits its lowest level since late September
© Bloomberg
yesterday
by: Gregory Meyer in New York
Hedge funds and other money managers grew less bullish on US oil futures in the past week amid a decline that brought prices back below $45 a barrel.
The net long, or buying, position in West Texas Intermediate crude was the equivalent of 211.4m barrels on the New York Mercantile Exchange as of Tuesday, according to weekly government data, contracting by 33.2m barrels. The net position was the lowest since late September.
The funds pared their position by selling out of 20.7m barrels’ worth of long positions and adding 12.4m short, or bearish, futures positions in the week to Tuesday.
The shuffle came as the market has become sceptical about the ability of Opec, the producers’ cartel, to formalise a supply reduction agreed in Algiers in September. The group’s next official meeting is scheduled for November 30.
There are also signs that oil output in the US has bottomed out. On Monday, the US energy department reported that US production had climbed in August from the previous month, reflecting new supplies from offshore fields in the Gulf of Mexico. US drillers this week added nine rigs to explore for oil, bringing the total to 450, according to data from Baker Hughes, the oil services company.
WTI futures fell 9.5 per cent in the week to $44.07 a barrel. Adding to the negative sentiment was a record 14.4m barrel increase in US crude oil inventories reported on Wednesday.
…
Soon to post: Financial Times article on failure of oil to hold support
Drain the swamp.
http://townhall.com/columnists/brucebialosky/2016/11/06/drain-the-swamp-n2241277?utm_source=thdaily&utm_medium=email&utm_campaign=nl&newsletterad=
I can actually see the sleaze dripping off Podesta as the little propaganda twerp F Chuck Todd serves him the softballs on Meet The Press.
MSM’s journalistic Omerta: See No Evil when it comes to Crooked Hillary and the DNC.
http://www.theburningplatform.com/2016/11/06/see-no-evil/
The alternative media is showing the full depth of the depravity of Podesta’s occultist circles.
http://www.theburningplatform.com/2016/11/06/more-art-from-marina-abramovic/
Thanks to Wikileaks, the fawning symbiotic ties between our political elites and their media border collies are on full display. Here the WaPos Karen Tumulty kisses Podesta’s a$$.
http://www.breitbart.com/big-journalism/2016/11/04/wapos-karen-tumulty-kisses-john-podesta-dont-go-strangers/
Is this real?
Obama encourages illegal aliens to vote without fear of being deported.
Published on Nov 5, 2016
https://www.youtube.com/watch?v=nfgEvgVC6Qs
True or not, it definitely fits the globalist oligarchy’s agenda.
http://www.breitbart.com/2016-presidential-race/2016/11/05/tim-kaine-cheers-end-white-majority-spanish-address/
Better link
https://www.youtube.com/watch?v=AQKAz7l5Es4
“When you vote you are a citizen yourself”
WTF
“The sanctity of the vote is strictly confidential”
The whole enchilada
https://www.youtube.com/watch?v=oLLt-a6dI_0
Could non-citizens decide the November election?
By Jesse Richman and David Earnest October 24, 2014
How many non-citizens participate in U.S. elections? More than 14 percent of non-citizens in both the 2008 and 2010 samples indicated that they were registered to vote. Furthermore, some of these non-citizens voted. Our best guess, based upon extrapolations from the portion of the sample with a verified vote, is that 6.4 percent of non-citizens voted in 2008 and 2.2 percent of non-citizens voted in 2010.
Estimated Voter Turnout by Non-Citizens
2008 2010
Self reported and/or verified 38 (11.3%) 13 (3.5%)
Self reported and verified 5 (1.5%) N.A.
Adjusted estimate 21 (6.4%) 8 (2.2%)
Because non-citizens tended to favor Democrats (Obama won more than 80 percent of the votes of non-citizens in the 2008 CCES sample), we find that this participation was large enough to plausibly account for Democratic victories in a few close elections. Non-citizen votes could have given Senate Democrats the pivotal 60th vote needed to overcome filibusters in order to pass health-care reform and other Obama administration priorities in the 111th Congress. Sen. Al Franken (D-Minn.) won election in 2008 with a victory margin of 312 votes. Votes cast by just 0.65 percent of Minnesota non-citizens could account for this margin. It is also possible that non-citizen votes were responsible for Obama’s 2008 victory in North Carolina. Obama won the state by 14,177 votes, so a turnout by 5.1 percent of North Carolina’s adult non-citizens would have provided this victory margin.
https://www.washingtonpost.com/news/monkey-cage/wp/2014/10/24/could-non-citizens-decide-the-november-election/
Sunday funnies from TBP. Enjoy!
http://www.theburningplatform.com/2016/11/06/sunday-funnies-137/
The Trump phenomenom is about much more than Donald Trump.
http://www.theburningplatform.com/2016/11/06/much-more-than-trump-2/
Even the MSM is being forced to concede that the housing bubble is leaking air.
http://www.miamiherald.com/news/business/real-estate-news/article112344067.html
The slime trail left by the Clinton Crime Family just keeps getting more and more grotesque. These grifters make a mockery of any notion that the rule of law applies to the .1%. No wonder some FBI agents are reportedly resigning in disgust.
http://www.zerohedge.com/news/2016-11-06/chelsea-clintons-husband-used-clinton-foundation-raise-cash-his-hedge-fund
True or False
This was on the CBS Evening News this week.
“The decision for Blankfein to invest in Hillary Clinton’s son-in-law’s company is just one of many ways Goldman Sachs has used its wealth to forge a tight bond with the Clinton family. The company paid Hillary Clinton $675,000 in personal speaking fees, paid Bill Clinton $1,550,000 in personal speaking fees, and donated between $250,000 and $500,000 to the Clinton Foundation. At a time when Goldman Sachs directly lobbied Hillary Clinton’s State Department, the company routinely partnered with the Clinton Foundation for events, even convening a donor meeting for the foundation at the Goldman Sachs”
No wonder Crooked Hillary appealed to her supporters to vote early (and often). They dread the disclosures yet to come.
http://www.businessinsider.com/clinton-wikileaks-jennifer-palmieri-whopper-emails-2016-11