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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
sendero Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Aug-04-07 02:29 PM
Response to Reply #15
18. Greenspan.
.... is as much to blame for this happening as anyone.
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  -MUST SEE: CNBC's Jim Kramer GOES BALLISTIC: "WE HAVE ARMAGEDDON!" (Housing Crash) The Cleaner  Aug-04-07 02:07 PM   #0 
  - Credit pool for high risk mortgages dried up  OzarkDem   Aug-04-07 02:10 PM   #1 
  - Indeed  tammywammy   Aug-04-07 02:13 PM   #3 
  - If lenders are cutting back,  The Cleaner   Aug-04-07 02:16 PM   #5 
  - an average 400k home?  Maine-ah   Aug-04-07 03:41 PM   #35 
  - If you don't qualify for an average $400,000 home  sandnsea   Aug-04-07 03:48 PM   #37 
  - Doncha Know It!! Here In Florida It Was Gangbusters For A While And  ChiciB1   Aug-04-07 03:50 PM   #39 
  - Around here in SF you would be lucky to buy a studio apt. with $400K,  diane in sf   Aug-04-07 05:03 PM   #77 
  - Does here too (WI). However, go to California or Florida and....  Zynx   Aug-04-07 05:04 PM   #79 
  - Not on the west coast.  hawthorne17   Aug-04-07 06:08 PM   #99 
  - I also live in Seattle  NancyBreen   Aug-04-07 08:47 PM   #115 
  - I live in Rhode Island  hack89   Aug-04-07 06:33 PM   #102 
  - I live in an average 400k home  Lorien   Aug-04-07 08:49 PM   #116 
  - Buy a cheaper home or rent  OzarkDem   Aug-04-07 03:50 PM   #38 
  - Question: If new home construction slows, does that mean that the values  The Backlash Cometh   Aug-04-07 04:56 PM   #74 
     - Not when there's already way too much on the market to sell. Things are really out of whack.  Zynx   Aug-04-07 05:11 PM   #84 
  - I guess no one understands  zidzi   Aug-04-07 02:11 PM   #2 
  - A bubble, basically fraudulent, industry has crashed?  aquart   Aug-04-07 02:19 PM   #10 
     - aquart, I have wondered the same thing  antigop   Aug-04-07 02:50 PM   #25 
     - I don't see it as a healthy sign.  aquart   Aug-04-07 03:26 PM   #31 
        - I think you may be seeing the physical manifestation of trillions  Texas Explorer   Aug-04-07 05:55 PM   #96 
     - it's in the packaging  UpInArms   Aug-04-07 05:51 PM   #95 
  - A bunch of investment bankers and fund managers will...  TreasonousBastard   Aug-04-07 02:16 PM   #4 
  - Do you or anyone else know why he was so pissed at Bear Stearns?  The Cleaner   Aug-04-07 02:17 PM   #8 
     - If the court case a few years ago didn't teach him not to trust Bear Stearns  aquart   Aug-04-07 02:20 PM   #11 
     - Not exactly, but they were behind a lot of deriviatives...  TreasonousBastard   Aug-04-07 02:26 PM   #14 
     - Probably because of their two hedge funds that collapsed  antigop   Aug-04-07 02:53 PM   #26 
     - I wouldn't let Bear Stearns manage a lunch order.  aquart   Aug-04-07 03:30 PM   #33 
        - I was just answering the Cleaner's question. n/t  antigop   Aug-04-07 03:39 PM   #34 
           - I know. Just chiming in.  aquart   Aug-04-07 03:52 PM   #43 
     - The Bear Stearns CFO called this worse than LTCM, then hid on his conference call  Zynx   Aug-04-07 04:52 PM   #67 
  - That's Why They Called them Balloon Mortgages  AndyTiedye   Aug-04-07 02:17 PM   #6 
  - I don't really understand what happened either  nonconformist   Aug-04-07 02:17 PM   #7 
  - They just whacked 1/3 of mortgages  sandnsea   Aug-04-07 02:18 PM   #9 
  - Explain to me how they can jack up the interest?  aquart   Aug-04-07 02:25 PM   #12 
  - They could only do it if you signed up for an ARM  tammywammy   Aug-04-07 02:26 PM   #13 
  - If you love predatory lenders  sandnsea   Aug-04-07 02:44 PM   #24 
  - Where on god's earth did you get that?  aquart   Aug-04-07 03:21 PM   #30 
     - For mortgages, there are also down payment scams  sandnsea   Aug-04-07 03:28 PM   #32 
        - "Stupid buyers" is NOT a quote from me.  aquart   Aug-04-07 03:46 PM   #36 
           - I reject that  sandnsea   Aug-04-07 03:51 PM   #40 
              - Not trying to.  aquart   Aug-04-07 04:01 PM   #50 
                 - Average people, average credit  sandnsea   Aug-04-07 04:36 PM   #60 
  - ARM, Alt-A, no money down, other stupid, insane mortgage agreement goes here  Zynx   Aug-04-07 04:55 PM   #73 
     - Many people WERE able to pay  sandnsea   Aug-04-07 05:38 PM   #91 
  - There is plenty of blame..  sendero   Aug-04-07 02:29 PM   #17 
  - There's plenty of capital around, just not...  TreasonousBastard   Aug-04-07 02:31 PM   #20 
  - Wrong  sandnsea   Aug-04-07 02:44 PM   #23 
     - So How Many Of Us Will Be Able To Donate To A Candidate???  ChiciB1   Aug-04-07 03:57 PM   #47 
        - Housing market has been pushed out of whack  sandnsea   Aug-04-07 05:03 PM   #76 
           - Well, The Only GOOD Thing Happening My Way Is That My Land Is  ChiciB1   Aug-04-07 05:17 PM   #86 
  - They were writing loans for people w/ little or no documentation  OzarkDem   Aug-04-07 03:52 PM   #42 
     - Yeah, the Mortgage Industry  sandnsea   Aug-04-07 03:54 PM   #44 
        - It's fair to except some degree of self-honesty from a consumer.  Zynx   Aug-04-07 05:08 PM   #81 
           - Yep, that's the way bubbles work -  The Cleaner   Aug-04-07 05:29 PM   #88 
           - And $80,000 income is upper income  sandnsea   Aug-04-07 05:32 PM   #89 
  - Greenspan predicted it  bambino   Aug-04-07 02:27 PM   #15 
  - Greenspan.  sendero   Aug-04-07 02:29 PM   #18 
  - Greenspan created it giving out 4% interest  lovuian   Aug-04-07 03:55 PM   #45 
  - Of course he did. It's his fault. Japan-style Fed Funds rate garbage.  Zynx   Aug-04-07 05:03 PM   #78 
  - Waging an occupation while being encouraged to shop is coming  burythehatchet   Aug-04-07 02:29 PM   #16 
  - Thsi rant he went on crashed the market yesterday!  Nimrod2005   Aug-04-07 02:30 PM   #19 
  - The little I understand...  jobycom   Aug-04-07 02:36 PM   #21 
  - And there you have it  sandnsea   Aug-04-07 03:00 PM   #27 
     - Is this a deregulation problem?  aquart   Aug-04-07 03:51 PM   #41 
        - It might have  sandnsea   Aug-04-07 03:57 PM   #46 
           - I have a pal who took an arm at 16% in the 80's and a few yearslater  elehhhhna   Aug-04-07 04:49 PM   #65 
              - I was referring to the law that allows them  sandnsea   Aug-04-07 04:52 PM   #70 
  - Let me attempt to explain..  sendero   Aug-04-07 02:44 PM   #22 
  - You pretty well nailed it sendero. I'd like to emphasise that the major  nosmokes   Aug-04-07 03:09 PM   #28 
  - Median income folks bought for decades  sandnsea   Aug-04-07 03:17 PM   #29 
  - #4's a BIGGIE, too.  elehhhhna   Aug-04-07 04:51 PM   #66 
     - Truly dumb people  sandnsea   Aug-04-07 05:48 PM   #93 
        - I never said anything about "dumb people" and fixed-rate refis HAVE  elehhhhna   Aug-05-07 09:15 AM   #127 
  - The 'market value' of ANYTHING is based on people willing (and able) to BUY.  TahitiNut   Aug-04-07 03:57 PM   #48 
  - Arghhh. Need help with this:  aquart   Aug-04-07 04:07 PM   #53 
     - Taxation of capital gains on sale of residence was deferred ONLY if ...  TahitiNut   Aug-04-07 04:19 PM   #54 
        - Nope. Close, but not true.  Gregorian   Aug-04-07 04:48 PM   #64 
        - Nothing in your post contradicts what I said.  TahitiNut   Aug-04-07 04:52 PM   #68 
           - It is not a one time exclusion.  Gregorian   Aug-04-07 05:14 PM   #85 
              - What are you saying?  Kingshakabobo   Aug-04-07 06:55 PM   #104 
                 - Wrong.  Gregorian   Aug-04-07 07:24 PM   #107 
                    - I did not know that....Thanks!  Kingshakabobo   Aug-04-07 08:08 PM   #111 
        - Thank you!  aquart   Aug-04-07 05:07 PM   #80 
  - Very good and useful post  brentspeak   Aug-04-07 03:59 PM   #49 
  - other unexpected factors: job loss, illness, death  DemReadingDU   Aug-04-07 04:21 PM   #55 
  - Yes...  sendero   Aug-04-07 04:23 PM   #56 
  - Excellent list. Add to it a culture that has convinced folks that their home is their "investment."  CLW   Aug-04-07 04:38 PM   #62 
  - I ...  sendero   Aug-04-07 04:52 PM   #69 
  - Left out the part about lots of workers' jobs being outsourced  havocmom   Aug-04-07 04:54 PM   #71 
     - True....  sendero   Aug-04-07 05:09 PM   #82 
  - As of yesterday,109  mountainvue   Aug-04-07 04:05 PM   #51 
  - wow, that's a lot!  DemReadingDU   Aug-04-07 04:24 PM   #57 
  - Here ya go:  mountainvue   Aug-04-07 07:47 PM   #109 
  - The name Wells Fargo is on that 1st list twice..  annabanana   Aug-04-07 04:26 PM   #58 
     - That list is a little deceiving - perhaps intentionally by someone with ....  Kingshakabobo   Aug-04-07 07:11 PM   #105 
     - You should be fine with the Wells Fargo mortgage that you  mountainvue   Aug-04-07 07:39 PM   #108 
        - Thanks mountainvue  annabanana   Aug-04-07 08:36 PM   #114 
  - rec #5 - cnbc housing armegeddon now on the greatest page  bananas   Aug-04-07 04:06 PM   #52 
  - this same thing happened with reaganomics!! false economy!! driven by housing too high  flyarm   Aug-04-07 04:33 PM   #59 
  - The "ripple effect" will be the Armageddon.  Tierra_y_Libertad   Aug-04-07 04:37 PM   #61 
  - so if Bernake starts cutting rates  CountAllVotes   Aug-04-07 06:08 PM   #98 
     - And that'll also shovel another ton of coal into inflationary pressure  hatrack   Aug-04-07 08:56 PM   #118 
  - What an actor, he knows what is going on...n/t  CGowen   Aug-04-07 04:41 PM   #63 
  - Here's Cramer's staff summary of what he said on CNBC Friday, and my take on it  ProgressiveEconomist   Aug-04-07 05:44 PM   #92 
  - "We Are Building Homes in Iraq...people are losing their homes here.."  The Cleaner   Aug-04-07 04:54 PM   #72 
  - Fridays stock market watch thread  bananas   Aug-04-07 04:57 PM   #75 
  - Starting to sound like the S&L crash  bigbrother05   Aug-04-07 05:10 PM   #83 
  - It is, except worse I think  sandnsea   Aug-04-07 05:35 PM   #90 
  - Don't forget outsourcing of jobs, and keeping wages low contributed to this...  Blackhatjack   Aug-04-07 05:17 PM   #87 
  - Do you all remember Long-Term Capital Management?  antigop   Aug-04-07 05:51 PM   #94 
  - ON CSPAN2 BOOK TV NOW--A much better discussion of the mortgage crisis  ProgressiveEconomist   Aug-04-07 06:02 PM   #97 
  - DU Financial Gurus, help me out here.  distantearlywarning   Aug-04-07 06:21 PM   #100 
  - Deleted message  Name removed   Aug-04-07 06:31 PM   #101 
  - Deleted message  Name removed   Aug-04-07 07:17 PM   #106 
  - Deleted message  Name removed   Aug-04-07 07:51 PM   #110 
  - I think that the person that asked the question wasn't  missb   Aug-04-07 09:13 PM   #120 
     - Then SHE could have left off the snark  sandnsea   Aug-04-07 09:29 PM   #121 
        - This is how flamewars start.  distantearlywarning   Aug-04-07 09:53 PM   #122 
        - Deleted message  Name removed   Aug-04-07 10:16 PM   #123 
           - I don't earn upwards of $80K.  distantearlywarning   Aug-04-07 10:50 PM   #124 
              - Deleted message  Name removed   Aug-04-07 11:05 PM   #125 
                 - Ok, well, what can I say to that?  distantearlywarning   Aug-05-07 09:04 AM   #126 
                    - In situations like this, it is probably best just to put the poster on ignore.  missb   Aug-05-07 12:14 PM   #133 
        - If you got the chip off your shoulder...  Concerned GA Voter   Aug-05-07 09:31 AM   #132 
  - Nope. if you have a 30 yr fixed, and can make your payments  SoCalDem   Aug-04-07 06:38 PM   #103 
  - My advice to you would to stay in your 30 year fixed, send  mountainvue   Aug-04-07 08:17 PM   #112 
     - Thanks for the advice.  distantearlywarning   Aug-05-07 09:19 AM   #129 
  - The mortgage companies duped many home buyers. Their rates  MasonJar   Aug-04-07 08:27 PM   #113 
  - Mortgage companies give bonuses for selling rates higher than what the buyer qualifies for.  ProgressiveEconomist   Aug-05-07 09:29 AM   #131 
  - Apprently there is another Video of Him  brettdale   Aug-04-07 08:51 PM   #117 
  - I've already lost 10% of my net worth in the past week  HughMoran   Aug-04-07 08:59 PM   #119 
  - I'm very fortunate that I live in an area where housing costs are very low  Geek_Girl   Aug-05-07 09:18 AM   #128 
  - When the DJI goes below 10,000 call me, i will start worrying  nolabels   Aug-05-07 09:20 AM   #130 
 

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