Implicit in the President’s new housing plan are assumptions like the one detailed in the following passage:
. . . In announcing the housing plan, Mr. Obama struck a populist note, criticizing speculators and “lenders who knowingly took advantage of homebuyers” with the same vehemence he used in going after Wall Street bankers for giving themselves bonuses as their companies were seeking government help.
Uh-huh. Unfortunately, no mention whatsoever is made of the fact that the housing crisis stemmed in large part from the dramatic lowering of lending standards and the defaults galore that arose from not having stringent lending standards.
Moe Lane
Steve Maley
Dan McLaughlin
Neil Stevens
Daniel Horowitz
What of comercial property?
djemi (Diary) Thursday, February 19th at 10:44AM EST (link)As a former residental framer (rough carpenter), you know one of the guys how actually put the houses up, built the structure, I can tell you that at the coal face of the marketplaces the market is working with only the most productive both employees and companies surviving, so I have faith that it will come back, maybe not the way it once was but it will come back, smaller but stronger.
That said, it having been my area of productivity I did watch what was going on around the marketplace, you know for personal oppertunities and well it was the industry I was in.
So I have seen the word Leverage alot and it seems to have alot to do with the current mess in the economey, now as I understand it companies can leaverage themselves to a much higher level than the indervidual, So what happens when all of the bad comerical property hit the market/banks.
As an aside what of the rumours of a 2nd and 3rd wave of exotic residenail morgages I heard would hit in the 3rd or 4th qtr of this year?
“If I can’t shoot rabbits,then I can’t shoot fascist”
“With age, comes Wisdom, but only if you are paying Attention, son” my ‘Old Man’
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