I have been wondering about that....Originally Posted by Brian4Liberty
I have been wondering about that....
They may just hold them until the economy "recovers", which would be a long time. They could turn right around and sell them back to JP Sachs for pennies on the dollar. The last, and least likely scenario is that they could sell them at local auctions to the general public.
Any others?
"Power tends to corrupt, and absolute power corrupts absolutely." - Lord Acton
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety." - Benjamin Franklin
"Beware the Military-Industrial-Financial-Corporate-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Government is not the solution to our problem; government is the problem." - Ronald Reagan
"The only thing we have to fear is fear itself, and we must reject those who spread fear." - B4L update of FDR
"The Ministry of Truth can turn on a dime, and the fury of the ignorant masses can be redirected at will." - B4L
"Marxists become Fascists the minute they become rich, yet they retain the Marxist rhetoric." - B4L
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Thing is, the world is full of a**holes." - ACPTulsa
Twitter: B4Liberty@USAB4L
@angelatc Smart move. So much depressed real estate out there despite cap rates kicking ass. I like the way you see this as an opportunity; rents are high and money is cheap!
@oyarde Investment banking and sales and trading jobs are not mortgage origination jobs.
@jclay2 Don't be so negative. It's bad for your blood pressure. Nothing but good to say about current fed policy. Never has it been easier to make a killing. Sometimes you gotta play the game. It's not too late to swap your bullion for cash flowing real estate.
@Brian4liberty Bernanke is a smart dude. I'm sure he'll hang on to those mortgages and enjoy the ride.
Last edited by Jordan; 11-20-2012 at 11:09 AM.
Fact is that the current batch of home buyers is coming from the best part of the pool; they're super creditworthy people who are putting down big money on down payments. Hard to call it a bubble! This.is all about credit quality and recovery, not lending standards or risky monetary policy.
Last edited by Jordan; 11-20-2012 at 11:07 AM.
I do not see any move but to hold them , but I doubt they realize how long that will require ...
Another option is that they could resurrect that Bill submitted by Chucky Schumer and some other Senator to sell the houses to foreigners, and include a free Visa as a bonus.
"Power tends to corrupt, and absolute power corrupts absolutely." - Lord Acton
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety." - Benjamin Franklin
"Beware the Military-Industrial-Financial-Corporate-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Government is not the solution to our problem; government is the problem." - Ronald Reagan
"The only thing we have to fear is fear itself, and we must reject those who spread fear." - B4L update of FDR
"The Ministry of Truth can turn on a dime, and the fury of the ignorant masses can be redirected at will." - B4L
"Marxists become Fascists the minute they become rich, yet they retain the Marxist rhetoric." - B4L
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Thing is, the world is full of a**holes." - ACPTulsa
Twitter: B4Liberty@USAB4L
I figured they were already doing that and just not telling anyone.
IIRC, the proposal was more of a streamlining and expansion of the process.
"Power tends to corrupt, and absolute power corrupts absolutely." - Lord Acton
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety." - Benjamin Franklin
"Beware the Military-Industrial-Financial-Corporate-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Government is not the solution to our problem; government is the problem." - Ronald Reagan
"The only thing we have to fear is fear itself, and we must reject those who spread fear." - B4L update of FDR
"The Ministry of Truth can turn on a dime, and the fury of the ignorant masses can be redirected at will." - B4L
"Marxists become Fascists the minute they become rich, yet they retain the Marxist rhetoric." - B4L
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Thing is, the world is full of a**holes." - ACPTulsa
Twitter: B4Liberty@USAB4L
Also noted in the article:
A separate report today from the Labor Department showed that payrolls increased in 35 states in October, while the unemployment rate dropped in 37, showing much of the job market is gaining traction.
California led the nation with a 45,800 advance in employment, followed by Texas with 36,600 more jobs. The jobless rate dropped the most in South Carolina, Alaska and Wisconsin.
Housing starts are the latest in a batch of data showing a pickup in momentum. An index of homebuilder sentiment rose to a six-year high this month, and sales of existing homes were stronger than forecast in October. Residential construction added 0.3 percentage point to third-quarter economic growth of 2 percent.I suspect that the Fed may hold onto their securities until they mature. The average time a mortgage is kept by a borrower is about ten years (that includes loans refinanced as well as those which get paid off). That is what they have been doing with their Treasuries.Economists at Barclays Plc said in an e-mail that they raised their tracking estimate of the increase in fourth-quarter gross domestic product to 2.2 percent from 2 percent after today’s report.
Freedom is a state of mind. Nobody can take that from you unless you let them.
They will probably just sell them to foreigners in exchange for amnesty a la Spain: http://hosted.ap.org/dynamic/stories...11-19-12-19-26
"A free people ought not only to be armed and disciplined, but they should have sufficient arms and ammunition to maintain a status of independence from any who might attempt to abuse them, which would include their own government." George Washington
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