Comments for The Housing Bubble Blog

Comment on The Solution Some Consider Impossible by Crash Random

Crash Random — Sun, 19 Jul 2009 01:21:50 +0000

1) Green card plan: I just don’t see that many wealthy foreigners wanting to live in an over priced low quality home 40 mile outside Ogden Utah. Or in 50 mile from the ocean in Florida

Remember, the wealthy foreigner doesn’t have to actually live in the house (at least, such a requirement would be difficult to enforce).

So, pick up a U.S. Green card for the price of the cheapest shack in the middle of nowhere that qualifies for the program?

I don’t see this passing either.

Comment on Bits Bucket For July 18, 2009 by robiscrazy

robiscrazy — Sun, 19 Jul 2009 01:11:50 +0000

Uncle Dickie’s Shameless Quickies

you guys and your band names are pretty funny.

Comment on The Solution Some Consider Impossible by OCBear

OCBear — Sun, 19 Jul 2009 01:06:44 +0000

Little Timmy blew,
All the Money.

Comment on The Solution Some Consider Impossible by LehighValleyGuy

LehighValleyGuy — Sun, 19 Jul 2009 00:34:20 +0000

Don’t you understand? You can’t use laws that are already on the books. That doesn’t give the pols any chance to grandstand about how they’re Doing Something!! about the Crisis!! — and to hear the grateful response from the populace: Yes!! Thank you, wise and merciful Washington! You have saved the day yet again!!

Comment on The Solution Some Consider Impossible by Milkcrate

Milkcrate — Sun, 19 Jul 2009 00:33:32 +0000

Bring the money home instead, tax amnesty for the billions hidden offshore. US money to bolster economy.

Comment on Bits Bucket For July 18, 2009 by joeyinCalif

joeyinCalif — Sun, 19 Jul 2009 00:29:38 +0000

If the objective is to go back to days gone by, a wall won’t be enough. We’ll need a roof as well.

Comment on Bits Bucket For July 18, 2009 by exeter

exeter — Sun, 19 Jul 2009 00:29:10 +0000

How about imposing tarriffs on imports like asian countries levy on our exports?

How about a national health insurance system for our workforce like toyota, hundai, honda and kia workers earn?

Naaah… That would expose the 30 year old supply side corporatist lie that the US isn’t competitive, builds inferior quality products among other favorite propaganda pieces of the supply side/corporatist creeps.

Comment on The Solution Some Consider Impossible by rentor

rentor — Sun, 19 Jul 2009 00:19:40 +0000

First we give them our well paid jobs. Now we offer them cheap housing. BTW, what if they want a job after they are given green cards. What will happen to US standard of living?

They will all apply once we also provice healthcare.

Comment on The Solution Some Consider Impossible by ATE-UP

ATE-UP — Sun, 19 Jul 2009 00:17:33 +0000

“What is all that excess consumption getting us anyway? SUVs, stupid toys like offroad bikes and jet skis. Blah. More crap we don’t need that makes life worse”

If you only knew what I have learned, and how, I, (and a lot of us here), are minimalists. Some naturally, some the hard knocks way.

Personally, I would prefer the natural way 100 times over the hard knocks way to get there. Too much residual damage.

Good point James.

P.S. Oly, how do you spell minimiimalist?

Comment on The Solution Some Consider Impossible by ATE-UP

ATE-UP — Sun, 19 Jul 2009 00:11:05 +0000

Me thinks the Mysterious Flying Miser is Shorty the Hairy Midget Jerk…

Comment on The Solution Some Consider Impossible by ATE-UP

ATE-UP — Sun, 19 Jul 2009 00:09:53 +0000

Over my pea brain a little polly but nice analysis.

Comment on The Solution Some Consider Impossible by Professor Bear

Professor Bear — Sun, 19 Jul 2009 00:08:50 +0000

“This option takes the form of what we call a prepackaged Chapter 13 bankruptcy, in which the mortgage is automatically readjusted in line with the decline of housing prices in the homeowner’s ZIP code. The homeowner ends up with positive equity in his house, so that he will either maintain the house or sell it outside foreclosure, and the creditor ends up with a claim of greater value than the foreclosure price of the house. Because both parties are made better off, the cost of credit should not increase in the long run, and taxpayers do not have to subsidize the scheme.”

The best part of Roubini’s proposal:

Those who wanted to have nothing to do with the bubble don’t need to get screwed in order to pay off bad gambling debt which should rightfully be shared between the f-d buyers and the foolish lenders who loaned them unrepayable sums of money.