[dewilson58]

One prediction.

[Hape2Bhr]

Originally Posted by Two Bills

Or was it capitalism at its greediest and worst?

I would not classify Rep. Frank and those regulating Fannie Mae and Freddie Mac as capitalists.

[rustyp]

Originally Posted by Aces4

Yes, the beginning of covid caused that low, thank you to another country who was afraid of the USA at that point. Let’s remember that.

Here is my prediction:

If things are good I get the credit
If things are bad it was my predecessor

As for housing prices lumber futures
4/1/19 < $400
4/1/21 $1500
Today < $400

Mortgage rates on the rise

Employers are starting to force employees back into the office. This could have a negative effect on areas like Florida where people migrated when they could work from home. If you want to keep your job with the same firm you may have to return.


I'll bet housing prices go back maybe as far as prices 4 years ago.

[Babubhat]

The only house price that matters is the one you are buying or selling. Broad statement is meaningless

[Chi-Town]

View sights seem to be holding, others not as much. Location etc.

[Laker14]

it's all the other guy's fault.

[kkingston57]

Originally Posted by Bilyclub

Giving mortgages to unworthy credit risks worked great in 2008. Socialism at it's finest.

Banks got greedy and did not do the proper underwriting.

[Velvet]

This new mortgage rule is so nonsensical I thought the poster writing about it was kidding. Turns all economic teaching upside down sort of like saying let’s’ s try 1 plus 1 as 3 the second “1” needs to subsidize the first “1”.

[Normal]

Originally Posted by rustyp

Here is my prediction:

If things are good I get the credit
If things are bad it was my predecessor

As for housing prices lumber futures
4/1/19 < $400
4/1/21 $1500
Today < $400

Mortgage rates on the rise

Employers are starting to force employees back into the office. This could have a negative effect on areas like Florida where people migrated when they could work from home. If you want to keep your job with the same firm you may have to

Forcing offices to open back up would increase prices. If you can’t work from home, the boss has to pay the overhead costs of a larger business building etc.

[manaboutown]

Originally Posted by kkingston57

Banks got greedy and did not do the proper underwriting.

Lenders were forced into making bad loans.

"The evidence is overwhelming that Clinton was the architect of the financial disaster that wiped out trillions of dollars in household wealth. Under his National Homeownership Strategy, Clinton took more than 100 executive actions to pry bank lending windows wide open.

Through executive order, he marshaled 10 federal agencies under a little-known task force to enforce new "flexible" mortgage underwriting guidelines to boost low-income and minority homeownership.

For the first time, banks were ordered to qualify low-income borrowers with spotty credit. The 1994 policy planted the seeds of the mortgage crisis, as lenders eventually abandoned prudent underwriting altogether.


The next year, Clinton set quotas for lending in high-risk neighborhoods under an overhauled Community Reinvestment Act, while adding several hundred bank examiners to enforce the tougher CRA rules. Banks that came up short had expansion plans put on hold — a slow death sentence in an era of bank mergers and acquisitions.

For the first time, CRA ratings were made public, egging on ACORN and other radical inner-city groups, which used the reports to extort banks for $6 trillion in subprime loan set-asides by 2008.

When bankers resisted being saddled with so many risky loans, Clinton tapped Fannie Mae and Freddie Mac to take them off their books, while freeing bankers to originate more of the political loans. He had the Department of Housing and Urban Development nearly double Fannie's and Freddie's quotas for underwriting "affordable" loans, which remained in force throughout the 2000s.

When the mortgage giants pushed back, complaining that it would be hard to meet the higher targets, Clinton pushed them to load up on subprime loans, while authorizing Fannie and Freddie for the first time to buy subprime securities to earn credits toward the HUD goals. The mortgage giants complied to their great detriment.

So Clinton was also responsible for securitizing these loans which combined bad loans with good loans in packages that were sold to Wall Street institutions, including insurance companies. The mix of these junk loans made it impossible for investors to tell good ones from bad, and the markets eventually seized up and crashed."

From: Access to this page has been denied.

[Aces4]

Originally Posted by manaboutown

Lenders were forced into making and loans.

"The evidence is overwhelming that Clinton was the architect of the financial disaster that wiped out trillions of dollars in household wealth. Under his National Homeownership Strategy, Clinton took more than 100 executive actions to pry bank lending windows wide open.

Through executive order, he marshaled 10 federal agencies under a little-known task force to enforce new "flexible" mortgage underwriting guidelines to boost low-income and minority homeownership.

For the first time, banks were ordered to qualify low-income borrowers with spotty credit. The 1994 policy planted the seeds of the mortgage crisis, as lenders eventually abandoned prudent underwriting altogether.


The next year, Clinton set quotas for lending in high-risk neighborhoods under an overhauled Community Reinvestment Act, while adding several hundred bank examiners to enforce the tougher CRA rules. Banks that came up short had expansion plans put on hold — a slow death sentence in an era of bank mergers and acquisitions.

For the first time, CRA ratings were made public, egging on ACORN and other radical inner-city groups, which used the reports to extort banks for $6 trillion in subprime loan set-asides by 2008.

When bankers resisted being saddled with so many risky loans, Clinton tapped Fannie Mae and Freddie Mac to take them off their books, while freeing bankers to originate more of the political loans. He had the Department of Housing and Urban Development nearly double Fannie's and Freddie's quotas for underwriting "affordable" loans, which remained in force throughout the 2000s.

When the mortgage giants pushed back, complaining that it would be hard to meet the higher targets, Clinton pushed them to load up on subprime loans, while authorizing Fannie and Freddie for the first time to buy subprime securities to earn credits toward the HUD goals. The mortgage giants complied to their great detriment.

So Clinton was also responsible for securitizing these loans which combined bad loans with good loans in packages that were sold to Wall Street institutions, including insurance companies. The mix of these junk loans made it impossible for investors to tell good ones from bad, and the markets eventually seized up and crashed."

From: Access to this page has been denied.

In a nutshell!

[rustyp]

Originally Posted by Normal

Forcing offices to open back up would increase prices. If you can’t work from home, the boss has to pay the overhead costs of a larger business building etc.

Those buildings already existed and owned. What do they do with the real estate that the company has at 20% capacity ? This will be the most realistic case of trickle down economics one has encountered in our time.

[JMintzer]

Originally Posted by rustyp

Stock market low was March 16 2020 - 8 months prior to the last presidential election.

You mean when Covid first hit? Ummm... Okay...

[rustyp]

Originally Posted by JMintzer

You mean when Covid first hit? Ummm... Okay...

100% correct and the market has steadily increased 73% since that low of March 16 2020. FYI Covid hit the USA January 2020 - 3 months before the market low point.

[Rainger99]

Originally Posted by rustyp

100% correct and the market has steadily increased 73% since that low of March 16 2020. FYI Covid hit the USA January 2020 - 3 months before the market low point.

The shutdown started on March 13, 2020. That was when we shut down travel to and from Europe and people were sent home for two weeks to “flatten the curve.”