bold presidential election prediction (spoiler alert)

[Funkmasta]

cafferty is right. palin scares the crap out of me.. and i thought you couldn't get worse than dubya! he seems like a genius in comparison. mccain started out on a good platform but he's lost credibility imo. it's going to be close even still, although i think people here are making too much of the "middle america won't vote for a black man" argument. middle america is not that blinkered anymore.

When was the last time that Obama answered ANY question asked of him? 75% of what comes out of his mouth is: "What I am trying to say is, in the nation today, involving everyone, this is us against them."

[kishg]

When was the last time that Obama answered ANY question asked of him? 75% of what comes out of his mouth is: "What I am trying to say is, in the nation today, involving everyone, this is us against them."

not sure where your quote is from but i've seen him answering fairly clearly on many questions, as has mccain. both are fairly articulate and have clear views on their povs. you may disagree with both of them on the issues but i think both will be reasonably good as president. i'm just scared of palin being in the vp spot. i had a lot of respect for mccain before he picked her.

[Funkmasta]

not sure where your quote is from but i've seen him answering fairly clearly on many questions, as has mccain. both are fairly articulate and have clear views on their povs. you may disagree with both of them on the issues but i think both will be reasonably good as president. i'm just scared of palin being in the vp spot. i had a lot of respect for mccain before he picked her.

I have yet to see either of them answer a question fully, but McCain has a better grasp on HOW to do things, Obama has his eye on the prize. Both of them answer everything vaguely, and Obama offers the WORST answers, consisting of filler and keywords.

[Funkmasta]

And on that note: Obama seems to think that raising the taxes on businesses and corporations will ultimately increase tax revenue... which is indisputably wrong. Though it is a good line to rake in some votes, since businesses don't vote.

[rwh11385]

Ding ding ding.

I've had oh-so-much fun undoing some of the previous owners "remodeling" on this house. Last time I checked, a good level was 10 bucks. I guess that was out of the budget. Duct tape covered by wallpaper also acts as a good corner sealer for sheet rock.

-Charlie

Hahaha.


Sorry if I feel a home that needs some work is a better approach in my eyes than buying a new cookie cutter home.

Although one home I was looking at had its street mentioned in a recent article about drug busts. It's hard to find good neighborhoods sometimes when you are looking at repoes

[Funkmasta]

Sorry if I feel a home that needs some work is a better approach in my eyes than buying a new cookie cutter home.

I would be hard pressed to buy a house made after the 60s. 70s and 80s were ugly, 90s+ are cheaply made and have no soul/style.

[Charlie]

Hahaha.


Sorry if I feel a home that needs some work is a better approach in my eyes than buying a new cookie cutter home.

Although one home I was looking at had its street mentioned in a recent article about drug busts. It's hard to find good neighborhoods sometimes when you are looking at repoes

Be sure to find the difference of "some work" consisting of a 1970's era kitchen, vs "some work" consisting of rusted pipes, rotted drywall & halfass wiring. A lot of "fixer upper" houses are that way for a reason.

I was in your same position 2-3 years ago, looking at "fixer upper" type homes. By the time you look at what it will take to make them really liveable, let alone "flippable", your wallet starts to hurt. Banks are also surprisingly unwilling to negotiate on foreclosure short sales.

-Charlie

[Aptyp]

My parents friend has almost 2 mil in homes right now. Since market was so bad he started renting them. I was going to feel sorry for him, but from 88-to late 90's he made a killing to allow him to spend 2 mil cash on homes. Now he's trying to sell homes off for whatever they fetch, he even ran public auctions on a few.

I don't know why heeter is so hung up on "republican" kids making right decisions, because ultimately they will be a very tiny percentage. Most kids after college move back home for a little while. How many kids will get out of college, get a job, move to location and have 20k for down payment for a decent home? Only in our current state people could mortgage a house and not have a dime to their name.

If anything, opportunists like my parents friend is going to pick up more homes and sell them, because banks are willing to loan again.

We live in a country of credits. Everything is in credit, cars, houses, shopping, jewelery. Americans got so used to live in prosperity that as a generation X, we thought we can have whatever we want and pay later. No, we can't.


I for one think that FICO is bullshit. I think it has a place, but so many businesses report to them. When I was 16, I got in a fight with Columbia House for sending me random crap that I didn't order, and they sent the bill to credit bureau. It came off my credit history last year, and there was nothing I could do. Pissed me off. I try to avoid credits and loans altogether, this way I don't get in trouble. When I'll get ready to by a house it will e a different story, but until then no thanks.

[rwh11385]

Bobby, these are the same "kids" that bought these houses 5-6 years ago "to make a profit", and walked away from the mortgage when they got in over their heads. These are the same kids graduating college, getting a 50k job, and jumping headfirst into debt with a preowned BMW, 60 inch TV and an "investment" house. The foreclosure market looks tempting until you realize that there's no one to buy these houses once they're "fixed up". We've got a glut of homes, and a bunch of people with no money.

Remember, the housing market took a shit from 98-01, and a bunch of people bought "fixer-uppers" to flip. We see how that ended.

-Charlie

Where did I use the word "profit"?

Even if the house value remains the same or drops a little, at least the money you spent on it comes back (outside of interest expense... which can help with taxes anyway).

I'm looking for a place to live vs. renting, not to "flip" it.

If anything, all this shit was caused by people making the horrible assumption that trends will continue forever and shit would never correct.

[ragged325]

I wouldn't say that. Kids fresh out of college with good credit scores and decent salaries have tons of options with foreclosed homes. The young Republicans are gonna snatch up crazy deals and begin to build their wealth. With money going to equity of a house rather than expense of rent, the divide is gonna be created with the Facebook generation.

http://www.bizjournals.com/washington/stories/2008/07/28/daily54.html?jst=b_ln_hl

Middle- and upper-income borrowers accounted for more than two-thirds of high-rate mortgages issued in 2006, according to a new survey by ComplianceTech.

And more than 55 percent of such loans went to white borrowers. During the period of 2004 to 2006, whites had more subprime rate loans than all minorities combined.

The Arlington-based consulting firm analyzed data filed under the federal Home Mortgage Disclosure Act to find out the demographic distribution of subprime rate loans.

“Generally, subprime lending and the foreclosure crisis is presented as if it is only an issue for minority and low-income borrowers,” said Maurice Jourdain-Earl, managing director of the firm and the study’s author. “However, the data shows that the problem is much broader than just with minorities and low-income households ... My belief is if we widen our lenses to see that this problem affects all segments of society, we will change the tone and context of our approach to solutions.”

Of the 1.9 million subprime rate loans in 2006, upper-income borrowers had the highest share at 39.37 percent, followed by 27.55 percent for middle-income borrowers and 20.99 percent for moderate-income borrowers.

Low-income borrowers had only 149,173, or 7.57 percent, of 2006 subprime rate loans.

[kishg]

I don't know why heeter is so hung up on "republican" kids making right decisions, because ultimately they will be a very tiny percentage. Most kids after college move back home for a little while. How many kids will get out of college, get a job, move to location and have 20k for down payment for a decent home? Only in our current state people could mortgage a house and not have a dime to their name.

why would only republican kids made a profit in any case?

[rwh11385]

http://www.bizjournals.com/washingto...ml?jst=b_ln_hl

Originally Posted by Washington Business Journal
Middle- and upper-income borrowers accounted for more than two-thirds of high-rate mortgages issued in 2006, according to a new survey by ComplianceTech.

And more than 55 percent of such loans went to white borrowers. During the period of 2004 to 2006, whites had more subprime rate loans than all minorities combined.

The Arlington-based consulting firm analyzed data filed under the federal Home Mortgage Disclosure Act to find out the demographic distribution of subprime rate loans.

“Generally, subprime lending and the foreclosure crisis is presented as if it is only an issue for minority and low-income borrowers,” said Maurice Jourdain-Earl, managing director of the firm and the study’s author. “However, the data shows that the problem is much broader than just with minorities and low-income households ... My belief is if we widen our lenses to see that this problem affects all segments of society, we will change the tone and context of our approach to solutions.”

Of the 1.9 million subprime rate loans in 2006, upper-income borrowers had the highest share at 39.37 percent, followed by 27.55 percent for middle-income borrowers and 20.99 percent for moderate-income borrowers.

Low-income borrowers had only 149,173, or 7.57 percent, of 2006 subprime rate loans.

So let's think about what you posted. Middle and upper income borrowers had 2/3rds of high rate subprime loans. Okay. This may seem shocking to someone not reading it in context. How many low income people do you believe are even thinking of buying a home? How steady are most low income jobs (vs. even a modest salary)? And are you assuming upper income automatically means good credit? Look at MC Hammer. Our rich county had foreclosures as well - simple cause... people buying more than they can afford on bad assumptions.

55% of such (is that referring to the mid to high income subprime loans? Or all subprime loans?) were made to white people. Hmmm. What is the demographics of the united states again? 68% nonhispanic whites? And are all those high income, great credit? Probably not. At 55%, are whites underrepresented in subprime lending? Yup.

More over, do you know the home ownership percentage for whites? 75%. What is it for minorities?

http://upload.wikimedia.org/wikipedia/en/7/75/US_home_ownership_by_race.png

Under 50%. The trend of more and more home owners has increased everyone - but I doubt everyone probably ought to have bought a home. Regardless, there are more white people in the nation (hence why they are called a majority) and also many more of them are home owners... so is 55% really a shocking or even high number? Probably not... if you read it with context.

Find some intelligence and know just because someone wants to sell you news with the numbers does NOT mean that is the right way to look at them. If ComplianceTech spent time to research the situation, do you think they are going to be happy if they don't have a story to tell, or if they share the whole story which makes their effort seem pointless?