The 2023 Housing Bubble ***Apocalypse***

[TimHauck 2,628]

37 minutes ago, edjr said:

April 2020, Real Estate agents were deemed "Essential"  

April 2020, Ed says the housing market was about to crash.  He finally might be right 

[TimHauck 2,628]

Prices pretty stagnant, but seeing reduced days on market in my area as I guess people are getting used to the higher rates.

Looking like ed might need some more banks to fail to get his housing market crash

[Blue Horseshoe 348]

 

Biden’s mortgage ‘equity’ will screw up the homebuying market

Team Biden will intentionally punish homebuyers with good credit scores to subsidize people with shaky histories of paying their debts....Starting May 1.... a Biden administration decree will require adjusting mortgage calculations to penalize homebuyers with a FICO credit score of 680 and above — almost two-thirds of the population....This levy will be used to reduce costs for people with low credit scores — i.e., risky borrowers more likely to default on mortgages.....National Association of Home Builders, warns that President Joe Biden’s policy “could decrease homeownership among the middle class.”

....That surtax could amount to $60 or more per month — equivalent to more than $20,000 over a 30-year mortgage....“The average credit score in white communities was 727 in 2021, compared with 667 in Hispanic communities and 627 in Black communities....” ..... neglected to concede that much of the blame rests on politicians and bureaucrats who caused the 2008 housing crash.....Instead, the administration blames the homeownership gap in part on unjust denial of mortgages to black applicants. In recent years, however, black mortgage holders have been almost 50% more likely to default than white borrowers, per the American Enterprise Institute.....A 1995 Federal Reserve Board study examined more than 200,000 mortgage loans and found that “blacks defaulted about twice as often as white borrowers.”....The new Biden penalty on creditworthy home buyers is on par with his national moratorium on evicting deadbeat renters, food-stamp rules discouraging people from getting jobs and perpetually absolving student borrowers from paying a cent on their federal loans...

https://nypost.com/2023/04/24/bidens-mortgage-equity-will-screw-up-the-homebuying-market/

 

*********

 

Once again, American tax payers are being required to subsidize those who make bad decisions for the sake of identity politics and so the DNC can just buy votes with your tax dollars. The MSM wants to keep screaming out into the sky and call it "Equity". Use the real name for it -  "Socialism".  Why does our better hard earned credit ratings have to be penalized for those who can't deal with their own finances? This is not a redistribution of wealth from the rich to the poor, it's one stolen from the responsible and appropriated by government force to the irresponsible. You don't have to be filthy rich to have a good credit score. You just have to conduct your finances with responsibility and accountability. 

[TimHauck 2,628]

2 hours ago, TimHauck said:

Prices pretty stagnant, but seeing reduced days on market in my area as I guess people are getting used to the higher rates.

Looking like ed might need some more banks to fail to get his housing market crash

Guess I wasn't alone in what I was seeing.  I think ed may have posted this guy's videos before.  Basically took him 10 minutes to say housing prices won't crash until the economy does first, because supply is still extremely low.

 

 

[Reality 3,104]

11 hours ago, Blue Horseshoe said:

 

Biden’s mortgage ‘equity’ will screw up the homebuying market

Team Biden will intentionally punish homebuyers with good credit scores to subsidize people with shaky histories of paying their debts....Starting May 1.... a Biden administration decree will require adjusting mortgage calculations to penalize homebuyers with a FICO credit score of 680 and above — almost two-thirds of the population....This levy will be used to reduce costs for people with low credit scores — i.e., risky borrowers more likely to default on mortgages.....National Association of Home Builders, warns that President Joe Biden’s policy “could decrease homeownership among the middle class.”

....That surtax could amount to $60 or more per month — equivalent to more than $20,000 over a 30-year mortgage....“The average credit score in white communities was 727 in 2021, compared with 667 in Hispanic communities and 627 in Black communities....” ..... neglected to concede that much of the blame rests on politicians and bureaucrats who caused the 2008 housing crash.....Instead, the administration blames the homeownership gap in part on unjust denial of mortgages to black applicants. In recent years, however, black mortgage holders have been almost 50% more likely to default than white borrowers, per the American Enterprise Institute.....A 1995 Federal Reserve Board study examined more than 200,000 mortgage loans and found that “blacks defaulted about twice as often as white borrowers.”....The new Biden penalty on creditworthy home buyers is on par with his national moratorium on evicting deadbeat renters, food-stamp rules discouraging people from getting jobs and perpetually absolving student borrowers from paying a cent on their federal loans...

https://nypost.com/2023/04/24/bidens-mortgage-equity-will-screw-up-the-homebuying-market/

 

*********

 

Once again, American tax payers are being required to subsidize those who make bad decisions for the sake of identity politics and so the DNC can just buy votes with your tax dollars. The MSM wants to keep screaming out into the sky and call it "Equity". Use the real name for it -  "Socialism".  Why does our better hard earned credit ratings have to be penalized for those who can't deal with their own finances? This is not a redistribution of wealth from the rich to the poor, it's one stolen from the responsible and appropriated by government force to the irresponsible. You don't have to be filthy rich to have a good credit score. You just have to conduct your finances with responsibility and accountability. 

This is so incredibly focked up.

[listen2me 23 1,831]

11 hours ago, Blue Horseshoe said:

 

Biden’s mortgage ‘equity’ will screw up the homebuying market

Team Biden will intentionally punish homebuyers with good credit scores to subsidize people with shaky histories of paying their debts....Starting May 1.... a Biden administration decree will require adjusting mortgage calculations to penalize homebuyers with a FICO credit score of 680 and above — almost two-thirds of the population....This levy will be used to reduce costs for people with low credit scores — i.e., risky borrowers more likely to default on mortgages.....National Association of Home Builders, warns that President Joe Biden’s policy “could decrease homeownership among the middle class.”

....That surtax could amount to $60 or more per month — equivalent to more than $20,000 over a 30-year mortgage....“The average credit score in white communities was 727 in 2021, compared with 667 in Hispanic communities and 627 in Black communities....” ..... neglected to concede that much of the blame rests on politicians and bureaucrats who caused the 2008 housing crash.....Instead, the administration blames the homeownership gap in part on unjust denial of mortgages to black applicants. In recent years, however, black mortgage holders have been almost 50% more likely to default than white borrowers, per the American Enterprise Institute.....A 1995 Federal Reserve Board study examined more than 200,000 mortgage loans and found that “blacks defaulted about twice as often as white borrowers.”....The new Biden penalty on creditworthy home buyers is on par with his national moratorium on evicting deadbeat renters, food-stamp rules discouraging people from getting jobs and perpetually absolving student borrowers from paying a cent on their federal loans...

https://nypost.com/2023/04/24/bidens-mortgage-equity-will-screw-up-the-homebuying-market/

 

*********

 

Once again, American tax payers are being required to subsidize those who make bad decisions for the sake of identity politics and so the DNC can just buy votes with your tax dollars. The MSM wants to keep screaming out into the sky and call it "Equity". Use the real name for it -  "Socialism".  Why does our better hard earned credit ratings have to be penalized for those who can't deal with their own finances? This is not a redistribution of wealth from the rich to the poor, it's one stolen from the responsible and appropriated by government force to the irresponsible. You don't have to be filthy rich to have a good credit score. You just have to conduct your finances with responsibility and accountability. 

Normal libs won't like this nor should they.   Yet they will stand idly by and shrug their shoulders and vote for more.  Wash rinse repeat.  

[Hardcore troubadour 14,961]

Are we going to act as if the banks aren’t ok with this? The poor banks getting pushed around again? Laughable. 

[Cloaca du jour 2,147]

Im waiting for car prices to crash

[edjr 6,578]

8 minutes ago, Cloaca du jour said:

Im waiting for car prices to crash

Me too. I'm ready for a porsche. 

[Cloaca du jour 2,147]

1 hour ago, edjr said:

Me too. I'm ready for a porsche. 

[edjr 6,578]