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Forum Post: The housing “recovery” is a total sham

Posted 12 months ago on July 31, 2013, 12:46 p.m. EST by GirlFriday (17435)
This content is user submitted and not an official statement

http://www.salon.com/2013/07/31/this_is_not_a_housing_recovery/

It isn't.

We have a similar problem The prices of housing jumped. The local banks can't give you a loan for under $50,000. Community Reinvestment Act. Often the houses have tremendous problems. Too, because they can't give you a loan the houses are sold for cash. So, a house that needs some work is deliberately held back unless it is sold for cash to someone who is going to flip it. Some real estate agents are absolute douche bags.

Now, there are also areas where a crap house that needs extensive work is being sold at 60-75 thousand dollars for a two bedroom. I just watched an area where the prices jumped ten grand. I have seen a house for sale that is $120,000 for a one bedroom.

What recovery?

33 Comments

33 Comments


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[-] 3 points by factsrfun (8689) from Phoenix, AZ 12 months ago

Astute observations, I am involved in a small project in the commercial area and there it seems so far it is all middle men wanting to do a quick flip and not people looking to deliver to the finial customer, It's like everybody has become a banker and nobody wants to do actual work. Anyway this may sound way off topic, but if it doesn't and you see what I'm saying about the "flippers" and the middle men then it was worth the time. Thanks for posting..

[-] 3 points by Ache4Change (3280) 12 months ago

'Bankers : The Real House Thieves OF New Jersey' - http://www.nationofchange.org/bankers-real-house-thieves-new-jersey-1375276958 . Thank you for your important post and link. Never Give Up Exposing Banker Greed! Occupy The Real Agenda! Solidarity.

[-] -1 points by GirlFriday (17435) 12 months ago

Thanks. Don't kid yourself. I'm still going to slap the shit out of Libertopians.

[-] 4 points by Ache4Change (3280) 12 months ago

The Libertarian Utopia is for a 1% and equates to a very dark dystopia for The 99%. You keep up with your fight because it's all our fights and you may be interested in these -

http://www.nationofchange.org/business-america-requiem-1375190244 &

http://www.nationofchange.org/tom-friedman-new-ayn-rand-dark-digital-future-1375106635 .

Never Give Up Exposing Ayn Rand's Children! Occupy 99% Issues. Solidarity.

[-] -1 points by GirlFriday (17435) 12 months ago

We were doing ok until we hit this: Overturn Citizens United by a simple act of Congress (good). Ignore the Supreme Court’s ruling in this and other instances where its decisions violate or stretch the meaning of the Constitution or subvert majority rule (bad). There is no mention of judicial review in the US Constitution; giving 11 unelected judges with life tenure the right to overturn acts of Congress is preposterous(bad).

Ya, thanks, but I'm all good.

[-] 3 points by Ache4Change (3280) 12 months ago

'Since 2007, the foreclosure crisis has displaced at least 10 million people from more than four million homes across the country. Families have been evicted from colonials and bungalows, A-frames and two-family brownstones, trailers and ranches, apartment buildings and the prefabricated cookie-cutters that sprang up after World War II. The displaced are young and old, rich and poor, and of every race, ethnicity, and religion. They add up to approximately the entire population of Michigan.' - taken from - http://www.nationofchange.org/great-eviction-1375454922

Not sure that we've been 'doing ok' for the last 40 years. 'Citizens United' has nothing to do with Citizens and even less to do with being 'United'. Housing is a basic human right - no matter what 'Libertopians' may think. Never Give Up Exposing Right Wing Libertarian Lunacy! Occupy The Housing Issue! Occupy All The Issues! Occupy Wall Street! Occupy All Streets! Solidarity.

[-] -1 points by GirlFriday (17435) 12 months ago

You handed me this op-ed piece. Located here: http://www.nationofchange.org/business-america-requiem-1375190244

It was nothing more than a cheap regurgitation of other information. The author then preceded to provide his solutions. Hence, we were doing ok until we hit this: Overturn Citizens United by a simple act of Congress (good). Ignore the Supreme Court’s ruling in this and other instances where its decisions violate or stretch the meaning of the Constitution or subvert majority rule (bad). There is no mention of judicial review in the US Constitution; giving 11 unelected judges with life tenure the right to overturn acts of Congress is preposterous(bad).

The really cool thing is that you knew exactly what I was talking about. But, hey, thanks for playing.

[-] 3 points by Ache4Change (3280) 11 months ago

There's nothing wrong with a 'cheap regurgitation of other information' is there? :) You seem to have a good grasp of constitutional matters, so do allow me to ask you this please - how do 'We The People' overturn the 'Citizens United' and other decisions of the SCOTUS which have usurped any semblance of democracy in the US? The people are increasingly desperate as the nation is stolen right in front of us :(

Furthermore and related to this, have you seen - http://www.youtube.com/watch?v=AWKx0PS3wDw ?

Never Give Up On The 99%! Occupy ALL Streets! Solidarity.

[-] -1 points by GirlFriday (17435) 11 months ago

Ya, there is something wrong with a cheap regurgitation of other information. It makes the author look like he wants to ride on the coat tails of anyone else to make sure that he gets his piece of the pie. :)

So, since you are big on regurgitation, what did the courts tell you to do?

[-] 3 points by Ache4Change (3280) 11 months ago

All of us ride on the coat tails of others, so no - there is nothing really wrong with repeating and sharing information. Are you expecting unique and novel insights every time someone writes something? There's plenty of pie for everyone. Here, have a slice -

'Since 1980, America has doubled in size. However, most wages have barely increased. This and other issues are what is plaguing our economy today. Robert Reich connects the dots on the economy, in less than 2 minutes and 15 seconds' - http://www.nationofchange.org/truth-about-economy-1376577796

See what I did there? Ride Robert Reich's coat tails :) More pie? -

http://www.nationofchange.org/unlovely-profit-motive-1376573920

http://www.nationofchange.org/case-15-and-union-low-wage-workers-1376575402

http://www.motherjones.com/mojo/2013/08/department-justice-holder-distressed-homeowner-initiative

The last link is more in keeping with your OP but all have value I believe. I'm not too proud to regurgitate but it helps to digest before you do. I don't know ... what DID the courts tell me to do? Please educate and inform me by all means especially about 'immoral, unethical and illegal' and about how the Bush loaded SCOTUS is now a tool of the bankers and corporations and as to how that all fits in with any notions of 'democracy' that we may have left.

Never Give Up Digesting, Regurgitating and Explaining! Occupy Solidarity!

[-] 0 points by GirlFriday (17435) 11 months ago

No. We all don't. It makes the author suck ass and pretentious. Further, the piece did nothing more than hide a complete right wing solution. So, what did the courts tell you to do?

Or you don't know.

[-] 3 points by Ache4Change (3280) 11 months ago

No. I don't know. Do you? Fancy sharing?

[-] 0 points by GirlFriday (17435) 11 months ago

Yep. That's why I'm asking. So, here is my next question.

Why would you push something that you, yourself, have not researched?

[-] 3 points by Ache4Change (3280) 11 months ago

Because I'm not as clever as you or did not read it like you did? Take your pick. If you know the answer to your test question (which I clearly failed) then why not share your knowledge or perspective with us?

[-] 2 points by GirlFriday (17435) 11 months ago

[-] 1 points by Ache4Change (2263) 5 hours ago

:( You're like one of those strict teachers who won't spoon feed in the expectation that the errant pupils will do the work and come up with the right answers but doesn't concede to subjectivity or ability. I don't really have any faith in the neutrality or the 'moral worth' of the SC & here's more slices of pie as to why

http://www.nationofchange.org/republicans-supreme-court-1372944958

http://www.nationofchange.org/supreme-court-inc-1343835327

http://www.nytimes.com/2013/05/14/business/monsanto-victorious-in-genetic-seed-case.html

Never Give Up Being Gentle With Us, The Intellectually Challenged! Occupy Patience and Solidarity! ↥twinkle ↧stinkle permalink


It has nothing to do with a strict teacher and everything to do with my bullshit detector going off. I did this over a year ago. Usually, but not always, an opinion will tell you what you need to do. It has nothing to do with how you feel about the Supreme Court. I have seen everything that I need to see from Nation of Change. I won't look to that as a viable resource. Thanks.

[-] 1 points by Ache4Change (3280) 11 months ago

Strike 'strict' and add grumpy! You have come to your conclusion about 'NoC' apparently based on your 'bullshit detector' but maybe you should try to consider recalibrating it. Do you do the same for Alternet, Truthdig, Truth-Out, Counterpunch etc.? You don't owe me a reply but how were those links not relevant to my point or to the subject matter of our exchange? It seems that you may be one of those liberal types who are actually quite 'conservative' about what you actually consider to be a 'viable resource'.

Oh well, thanks for playing and I'll leave you with this - http://www.nationofchange.org/re-writing-history-housing-bubble-and-economic-crisis-1353256906 as per your OP but you don't have to read it though ;)

Never Give Up On An Open Mind! Keep Occupying The Issues! Thanks.

[-] 2 points by GirlFriday (17435) 11 months ago

:/

Here is a suggestion. Go read the SC decisions.The courts, usually, tell you what you have to do.

[-] 4 points by Ache4Change (3280) 11 months ago

:( You're like one of those strict teachers who won't spoon feed in the expectation that the errant pupils will do the work and come up with the right answers but doesn't concede to subjectivity or ability. I don't really have any faith in the neutrality or the 'moral worth' of the SC & here's more slices of pie as to why

http://www.nationofchange.org/republicans-supreme-court-1372944958

http://www.nationofchange.org/supreme-court-inc-1343835327

http://www.nytimes.com/2013/05/14/business/monsanto-victorious-in-genetic-seed-case.html

Never Give Up Being Gentle With Us, The Intellectually Challenged! Occupy Patience and Solidarity!

[-] -1 points by GirlFriday (17435) 11 months ago

[-] 0 points by Ache4Change (2266) 34 minutes ago

Strike 'strict' and add grumpy! You have come to your conclusion about 'NoC' apparently based on your 'bullshit detector' but maybe you should try to consider recalibrating it. Do you do the same for Alternet, Truthdig, Truth-Out, Counterpunch etc.? You don't owe me a reply but how were those links not relevant to my point or to the subject matter of our exchange? It seems that you may be one of those liberal types who are actually quite 'conservative' about what you actually consider to be a 'viable resource'.

Oh well, thanks for playing and I'll leave you with this - http://www.nationofchange.org/re-writing-history-housing-bubble-and-economic-crisis-1353256906 as per your OP but you don't have to read it though ;)

Never Give Up On An Open Mind! Keep Occupying The Issues! Thanks.


Yes, yes I do hold other news sources to the same standard. Thanks for asking. Having an open mind is great, but not so open that your brain falls out. Thanks for playing.

[-] 7 points by Ache4Change (3280) 11 months ago

Cute and thanks for the stinkle ;) Try the link. Though I'll think twice before playing again, occupy a hug.

[-] 2 points by DKAtoday (34849) from Coon Rapids, MN 12 months ago

The housing “recovery” is a total sham

Yep - EXACTLY - totally created out of thin air by paid story tellers.

[-] 1 points by DKAtoday (34849) from Coon Rapids, MN 12 months ago

GF in compliment to your post - check out this posted by shooz but which I tweeted:

DKAtoday ‏@DKAtoday Protected account 22m

Eminent Domain to Save Homeowners?

http://www.truth-out.org/opinion/item/17918-eminent-domain-to-save-homeowners

WOW - imagine - ED used "4" public good.

HUH Is this a 1ST ??

EVER ??


Remember when I made that post about using eminent domain for the good of the public/people ?

[-] 2 points by GirlFriday (17435) 12 months ago

Here’s how the plan would work: Say a homeowner has a $200,000 mortgage on a house that now has a $100,000 market value. Under the rules of eminent domain, the Constitution requires that when the home is taken, that there be reimbursements at market value. So the city would take the home and offer $100,000 – minus $20,000 for fees and costs associated with the process – and write a check to the bank that held the mortgage for $80,000.The bank would write off their $120,000 loss on the deal and both the tax code and federal banking programs would protect them so they don’t lose money. All the bank loses is the profit that it would have made if it continued to hold the mortgage.


That's pretty interesting. I am going to attempt to do this with out my necessary coffee. It could be brutal.

I don't think that the bank would actually be losing anything. I mean, isn't it when a home that as been foreclosed on (and you attempt to purchase it) that it becomes a disgustingly lengthy process like a short sale? The house does not have the original market value as it is. Further, the bank will NOT take care of the houses. So, the longer that the house is empty the worse shape it will often be in, if and when someone gets around to buying it. Frankly, the banks should be looking at it as the public riding in to save their asses again. I fail to see them losing anything.

[-] 2 points by DKAtoday (34849) from Coon Rapids, MN 12 months ago

Exactly - they don't lose. And there are millions of homes empty due to foreclosure from the meltdown. Millions. The housing “recovery” is a total sham F'n assholes. And wallstreet is against the idea because ( horror ) it would affect their bottom line ( ummmm fuckers ).

[-] 1 points by GirlFriday (17435) 12 months ago

I thought of another thing. Simply because the mortgage is $200,000 doesn't mean that the mortgage is even that. In fact, Bank of America has in the past tacked on all kinds of crap onto a mortgage and may not even tell you why or bother to explain it. In order to do that, you have to get a lawyer. Once your attorney gets involved and says, prove it then you can get some answers. So.......obviously, if you can't afford an attorney then you wind up screwed. I don't see how this really effects their bottom line. In fact, it sounds like they would actually be saved, so to speak, but would rather troll for more.

[-] 3 points by DKAtoday (34849) from Coon Rapids, MN 12 months ago

Yep - effects of greed -

fuck you "I" want more. But Shithead - you are losing money. Don't care - I want more. F'n insane asshole - you would have more.

[-] 1 points by GirlFriday (17435) 12 months ago

You know..........it would be great, if using eminent domain, the first offer was made and if declined then just outright take it and not give them a dime. It's happened in the past for regular folks, yeah?

[-] 3 points by DKAtoday (34849) from Coon Rapids, MN 12 months ago

Yep - hey folks your in the way some asshole wants to build here and we wanna let em - here's our offer - btw this is not an offer that you can't refuse - you can refuse it - but then we will just screw you more.

[-] 1 points by GirlFriday (17435) 12 months ago

Ya, that would work.

[-] 4 points by DKAtoday (34849) from Coon Rapids, MN 12 months ago

After-all Government is supposed to be "FOR THE PEOPLE" - Right?

People - corp(se)oRATions are NOT people.

[-] 0 points by GirlFriday (17435) 12 months ago

Yep.

[-] 1 points by Nevada1 (4495) 12 months ago

Hi GirlFriday, Good post and link. We are flooded with lies. Economy strong, unemployment at 7.5%, consumer confidence up------Total Propaganda.

[-] 3 points by DKAtoday (34849) from Coon Rapids, MN 12 months ago

Yep - media lies - paid for by the manipulators of society.

Hey everbody it's a beautiful day out there - be sure to wear your sunscreen ( so your flesh does not get melted off of your bones ) - gr8 day to hit the beach for a swim ( make sure to set-up appointment for a blood chillation treatment for afterwards - nasty poison water ) ...........................