Housing Bubble, credit bubble, public planning, land use, zoning and transportation in the exurban environment. Specific criticism of smart growth, neotradtional, forms based, new urbanism and other top down planner schemes to increase urban extent and density. Ventura County, California specific examples.
Monday, October 26, 2009
Alright it is behind us
There's at least another 50 years to go. Advice as to what to talk about will be appreciated.
Zerohedge is always showing a graph of the fed's balance sheet, and honestly I don't have a fucking clue. Can we have some discussion of what this means to me, and how exactly I am being screwed? That or you could throw up some varied ethnicities. It's the 21st century. Equal opportunity, man!
So September new home sales came in below expectations for the first drop since March.
Wells Fargo sez: "We're attributing most of the decline to the potential expiration of the new home-buyer tax credit,"
WTF?!? So an incentive of $8,000 is going away and he thinks this makes people less likely to engage in the incentivized behavior? As I recall in the Cash for Clunkers fiasco, the automakers didn't announce disappointing sales due to the looming expiration of the trade in credit.
I can't believe my tax dollars are going to subsidize a wanker who would allow his name to be associated with such a "black-is-white" quote.
Tax Credit = rebirth of subprime; no money down nothing to lose. At least subprime loans were at higher rates, now everyone gets a low FHA loan.
Unless mortgage rates stay low for the next 5-8 years (hello MBS purchase massive expansion) I would say at least 60% of these loans are defaulters (inability to refi, or move out later). Bond market cares not, why should we?
Re waste of cake: You are begging for a case of pink eye there!
Does this make my butt look big?
ReplyDeleteMy first thought, anyway.
Rob,
ReplyDeleteHas AARP contacted you yet about membership?
Zerohedge is always showing a graph of the fed's balance sheet, and honestly I don't have a fucking clue. Can we have some discussion of what this means to me, and how exactly I am being screwed? That or you could throw up some varied ethnicities. It's the 21st century. Equal opportunity, man!
ReplyDeleteOK - I'm confused... why are these guys getting prosecuted?
ReplyDeletehttp://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2009/10/26/financial/f145705D39.DTL&tsp=1
Just deserts? I should feel ashamed. Fuck it.
ReplyDeleteWaste of a perfectly good cake.
ReplyDeleteWaste of a perfectly good cake.
ReplyDeleteOh ye of such little imagination.
It's just a little flattened! It's still good! It's still good!
ReplyDeleteThis comment has been removed by the author.
ReplyDelete> Waste of a perfectly good cake.
ReplyDeleteNot at all, would you call a picture of a fork with cake on it a waste? Same principal, just more fun to lick than a fork.
Or did you mean "Waist" of a perfectly good cake?
By the way - Not usually a fan of the Govenator, but this is pretty darned good. He sent back a nice message when he vetoed a bill.
ReplyDeletehttp://www.sfgate.com/cgi-bin/object/article?f=/c/a/2009/10/28/MNBN1ABKB8.DTL&o=0
So September new home sales came in below expectations for the first drop since March.
ReplyDeleteWells Fargo sez: "We're attributing most of the decline to the potential expiration of the new home-buyer tax credit,"
WTF?!? So an incentive of $8,000 is going away and he thinks this makes people less likely to engage in the incentivized behavior? As I recall in the Cash for Clunkers fiasco, the automakers didn't announce disappointing sales due to the looming expiration of the trade in credit.
I can't believe my tax dollars are going to subsidize a wanker who would allow his name to be associated with such a "black-is-white" quote.
Tax Credit = rebirth of subprime; no money down nothing to lose. At least subprime loans were at higher rates, now everyone gets a low FHA loan.
ReplyDeleteUnless mortgage rates stay low for the next 5-8 years (hello MBS purchase massive expansion) I would say at least 60% of these loans are defaulters (inability to refi, or move out later). Bond market cares not, why should we?
Re waste of cake:
You are begging for a case of pink eye there!