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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (106137)	2/22/2008 10:34:33 AM
From: 10K a day	Respond to of 306849

LOL Did you watch the lunar eclipse?

To: Tommaso who wrote (106137)	2/22/2008 10:51:35 AM
From: Hawkmoon	Read Replies (1) \| Respond to of 306849

Some far right wing kook on the radio yesterday was actually blaming Carter for the subprime mess Yeah.. that's absolutely disingenuous. Carter is no more to blame for sub-prime than any other politician in the years since his administration. Let's face it.. we ALL have an economic (or social) interest in making home-ownership a reality for as many people as possible. And politically speaking, it's a "hot button" issue that will get you a lot of votes if you support it, or leave you a political "wannabe" if you oppose it. And those folks who own homes want to facilitate helping others to be able to buy homes as well.. Basic supply-demand equation.. Increase the demand for homes, and your property values increase. And for local governments, increased property values mean more property tax revenues.. Which means they can issue more municipal bonds and increase services (also a vote winner).. And then the Federal government can step in and eliminate 30 T-Bill offerings, which will drive up demand by investors for 30 year Mortgage backed debt. Then the financial folks can set up special investment vehicles so they can get those loans off their books and meet the demand by foreign investors for a place to park their profits (derived from the trade surplus and their currency manipulations).. And then the government (including the Federal Reserve), recognizing that the underpinnings of their tax base are being threatened, can step in and attempt damage control.. So there are any number of parties who are to blame for the sub-prime mess. And I'm sure that other folks can include the ones I've ommitted. Hawk