Are We Headed For Another Housing Crash ??

[billt]

http://cnsnews.com/news/article/barbara-hollingsworth/expert-another-housing-bubble-very-likely-if-we-don-t-change-our

Everything is pointing to it. Fannie and Freddie are right back to accepting 3% down, and in the process are basically over loaning money to people who can't afford to pay it back. And 3% is a totally false indicator, because the average home purchase comprised of that small of a percentage of a down payment, will accrue more than 3% in closing costs, loan origination fees, and other fees and expenses. This has the effect of a loan over 100% of the actual value of the home being purchased. Total insanity.

This is yet again causing a falsely inflated housing market that contains little, if any real cash value...... All paper. They've changed nothing. No one is complaining, so they have no reason to stop it. Neither Fannie or Freddie has paid back a cent of the $187 billion in bailout money they received from the government, after they crashed the market the first time in 2008. So what do they care?

The end result is we're right back to going full speed right off the cliff....... Again. Introduce idiots into a market where they don't belong, and cannot afford, and this is exactly what happens. It happened to the Stock Market in 1929. It happened to the housing market in 2008. And it will happen again. Keep doing the same thing, and you'll keep getting the exact same result. None of these people have learned the definition of insanity. All are either too blind, or too stupid.

[tombogan03884]

Yes, but it won't fall apart until after the Republican takes office again so it's OK.

[JC5123]

My loan is owned by Freddie Mac, I was very nervous to learn this, but it's not like I had any choice in it.  It was originated, and is still serviced by a local bank, and I am actually a little ahead on it, so I doubt I will be affected. (Other than my property value going into the tank) But it still gnaws at me knowing that .gov owns my mortgage.

[GASPASSERDELUXE]

Seeing  I am a few days short of 73, my house has been paid for for quite a long time and I have no intentions of getting a new one unless this one burns down. Actually blowup once it reaches the powder, primers and ammo. I have no sympathy for any of the fools who are going to get soaked again when the bubble bursts. I will just be happy it isn't me.

[Solus]

With the economy floundering with excessive debt, just what it needs is another push downhill. 

Well, if the plan is to bury it at the bottom, that is.

[Sponsor]

[alfsauve]

So I need to be putting away cash when the crash happens.  Then I can buy houses, stock and maybe even guns on the real cheap.

[billt]

Seeing  I am a few days short of 73, my house has been paid for for quite a long time and I have no intentions of getting a new one unless this one burns down. Actually blowup once it reaches the powder, primers and ammo. I have no sympathy for any of the fools who are going to get soaked again when the bubble bursts. I will just be happy it isn't me.

I'm pretty much the same way. In fact another deflating housing crash could work in my favor. We've been talking about moving back to the Colorado River area. Either Lake Havasu City or else Ft. Mohave / Bullhead City. The problem is the housing there is currently way over inflated. There is little work there to support these high prices. Especially in Lake Havasu.

 So if another crash comes, it's likely they'll get hit hard, which would work for me. Even if mine tanked a bit in the process. I would be working with smaller numbers across the board. When you're working with cash, that's always better. If it doesn't happen, I'll just stay here. No big deal either way.

[brushmore]

My loan is owned by Freddie Mac, I was very nervous to learn this, but it's not like I had any choice in it.  It was originated, and is still serviced by a local bank, and I am actually a little ahead on it, so I doubt I will be affected. (Other than my property value going into the tank) But it still gnaws at me knowing that .gov owns my mortgage.

Well you are in good company.  99.3% of mortgages are controlled by the government:
http://www.washingtonexaminer.com/federal-government-controlled-99.3-percent-of-mortgage-market-in-2012/article/2522042

That seems crazy to me but what to I know.

[Timothy]

I rent and don't give a f..k anymore..

[fatbaldguy]

So I need to be putting away cash when the crash happens.  Then I can buy houses, stock and maybe even guns on the real cheap.

Printed currency's only use in the near future will be for 'sanitary' purposes.  Since 1999 real inflation has been 36% (+/- a few 10ths).  It is about to get worse.