Ron Paul wants to get rid of FEMA

Discussion in 'Blazers OT Forum' started by Natebishop3, Aug 30, 2011.

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  1. Denny Crane

    Denny Crane It's not even loaded! Staff Member Administrator

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    People who bought pre-bubble were harmed.

    Do you believe that if you bought a house, it's value went up 100%, then fell by 75% that you're still up 25%?
     
    Denny Crane, Sep 2, 2011
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  2. barfo

    barfo triggered obsessive commie pinko boomer maniac Staff Member Global Moderator

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    No, I can do math. But I don't believe those numbers you threw out there are in any way representative of reality. You really want to argue that housing prices are half what they were pre-bubble? That's nonsense.

    barfo
     
    barfo, Sep 2, 2011
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  3. Denny Crane

    Denny Crane It's not even loaded! Staff Member Administrator

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    Case in point. A home in Vegas sold for $400K in 2000, peaked at over $800K during the bubble, never had a loan to value over 50%, was purchased with half down, and is now worth $225K.
     
    Denny Crane, Sep 2, 2011
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  4. barfo

    barfo triggered obsessive commie pinko boomer maniac Staff Member Global Moderator

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    What do you consider the 'true value' of that house? Is it $225k, $400K, or something else?

    barfo
     
    barfo, Sep 2, 2011
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  5. Denny Crane

    Denny Crane It's not even loaded! Staff Member Administrator

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    No less than $400K. It isn't free market forces that are determining the current value, but govt intervention in the form of them TAKING peoples' homes nearby and selling them at a loss.
     
    Denny Crane, Sep 2, 2011
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  6. barfo

    barfo triggered obsessive commie pinko boomer maniac Staff Member Global Moderator

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    Well, in that case, you should run out and buy that house at $225K. It's a bargain that the evil government is giving you. Take advantage of it. After all, you are sure it is worth $400K, right?

    barfo
     
    barfo, Sep 2, 2011
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  7. Charcoal Filtered

    Charcoal Filtered Writing Team

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    Dont you think Las Vegas is the most extreme case and also very different since it is tied into the gaming industry so heavily?
     
    Charcoal Filtered, Sep 2, 2011
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  8. Denny Crane

    Denny Crane It's not even loaded! Staff Member Administrator

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    No.
     
    Denny Crane, Sep 2, 2011
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  9. Denny Crane

    Denny Crane It's not even loaded! Staff Member Administrator

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    Sorry for the terse answer...

    I'm quite sure the same scenario is true for places in Florida, California, and Arizona. Among others...
     
    Denny Crane, Sep 2, 2011
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  10. barfo

    barfo triggered obsessive commie pinko boomer maniac Staff Member Global Moderator

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    There are of course local variations in housing prices. Overall, however, housing prices are higher than before the bubble.

    [​IMG]

    barfo
     
    barfo, Sep 2, 2011
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  11. Charcoal Filtered

    Charcoal Filtered Writing Team

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    I could see that. I know in the Phoenix area they were throwing up homes as fast as they could build them. It was not people that were going to be living in the homes that did this and was alot of speculators. Cannot say I really care about that.

    Also not having alot of sympathy for the people that got too much house for what they could afford. Even if my house is worth 50% less than what I paid for it, it does not matter. I make the payments on my loan regardless of how much equity is in my home. We also bought a condo for my sister in law while she went to school with the notion that in four years we would sell it. Instead of saving us paying rent for her, we will be taking a loss. Our eggs were not all in one basket though and it has not had any bearing on how we live.
     
    Charcoal Filtered, Sep 2, 2011
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