06-05-2011, 03:37 PM | #11 | |
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I think most banks are back to being super cautios in giving out mortgages again. |
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06-05-2011, 03:40 PM | #12 |
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Property values and home prices in my area have actually gone UP
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06-05-2011, 03:41 PM | #13 |
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06-05-2011, 03:58 PM | #14 |
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06-05-2011, 04:04 PM | #15 |
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06-05-2011, 04:31 PM | #16 | |
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You also think banks want to own all the property they got in this "land grab" as you call it? The banks only own those properties because the buyers stopped making payments and their loans are for more than the properties are now worth. Each property that goes in to foreclosure has a gap between what the property is worth and the value of the existing balance on the mortgage. That difference isn't speculative, it is a real loss to the banks since those banks actually paid out real cash money for the properties that were purchased. They would be much better off financially if homeowners just kept paying their loans. Instead they now have inventories of homes that are worth a fraction of the real money the banks loaned out for them. Every piece of land they got in this "land grab" has a financial loss attached to it. |
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06-05-2011, 04:55 PM | #17 | |
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06-05-2011, 05:08 PM | #18 |
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So what? Say a month ago you gave me a thousand dollars and in return I told you I would give you $1,100. Now I can't afford to give you $1,100 so I'm giving you a mountain bike worth $500 and telling you to go screw over the rest of it. Who got the better deal? But hey, you can write it off!
ETA: It is still real money that banks lost and they aren't getting back. The way those losses are accounted for doesn't change that. Last edited by goof2; 06-05-2011 at 05:09 PM.. Reason: clarity |
06-05-2011, 06:15 PM | #19 |
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Trust me, the losses (written off) are more than offset by getting to cherry pick what they're flipping. You can't tell me at the end of the day, them being the one ending up with all the assets, AND a fucking bailout that they're getting hurt.
What the fuck are you, retarded that you think I'm gonna fall for that shit? Let's recap: People lose their fucking homes The banks take fucking everything They get fucking bailout money and take huge fucking bonuses ...But really, it's them that's actually losing? Fuck you, don't piss on my fucking head and tell me it's fucking raining. I ain't that fucking stupid. It's called "redistribution of wealth". Open your fucking eyes, and you'll see it, jackass. It's what's killing the fucking economy, and it's clearly in the fucking numbers.
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06-05-2011, 06:24 PM | #20 |
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The rich get richer dept.
It's real fucking simple:
You get to a point in wealth imbalance when so few have so much of all the assets, and the rest are all so fucking poor, that there's fucking no one to sell enough crap to anymore, and the economy takes a profound shit. Welcome to that precise SHIT. Bankers gutted the fucking economy, and took it all. Now people are acting surprised no one is buying durable goods??? Please.
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