Housing and consumer activists warn that Wall Street is about to crash the housing market — again. The activists said they are particularly concerned about…
Related Posts
39 Comments on “Housing Crisis 2.0 Coming Soon Thanks To Wall Street”
Comments are closed.
These bankers are special and dominant human beings, all betas are mad!
Can anyone explain what cenk said in this video?
Like in a way an idiot would understand.
Sorry my iq is really low
So…. We’re fucked? Again? Damn. That sucks. For how long?
Cenk: “Literally the houses were under water.”
Don’t worry guys. They will just blame immigrants like they always have!
Im actually looking forward to this. Hopefully I’ll have enough money saved
for a down payment when the next bubble bursts and I’ll get a nice house
for nothing.
No it’s thanks to the democrats and Obama.
Elizabeth Warren for president. Fuck everybody else.
And to think the Romney blames the 47% for America’s woes…
Just make it illegal(in the US and the EU) to do something like this, its
not like the banks can’t make enough money without these insecure
practices.
Here’s a rule of the thumb for ya – see what the banks tell the public,
figure out what they want you to do, and then do the exact opposite.
wall street? 90% of house debt is backed by government, ten points for
who is most responsible for ongoing trends
It was only a matter of time, what do you expect when you give them
millions of dollars for crashing the system in the first place and don’t
make any changes to ensure that doesn’t happen again! Of cooooourse the are
gonna take advantage of it again! Just wait for another crash! It will be
10 times worst than the last one!
Got it but the numbers you quote aren’t anywhere close to the first housing
bubble!
Let me ask you, when do you anticipate this next bubble bursting?
It would be nice to get a chart of some sort to show future trending on the
size of these bonds. This way we can estimate when the next bubble bursts!
Banking is built on borrowing. Banks are basically guaranteed money,
because they can call on the federal reserve. When you need your money if
you had money in an account in the bank and if the bank collapses then you
are sol.
I fucking hate bankers. I don’t let those assholes handle my money.
It’s the same bubble. They never let it fully crash in the first place.
government will do nothing, as they fear no consequences. anything that
happens will be Bush’s fault, and the brainwashed voters will believe it.
I told my dad to sell his extra house in the next 4 years otherwise it will
be worth a lot less. I suggest everyone else do the same in 6 years. I
highly doubt many people of the current house buying age are interested in
owning property anymore. It’s too much of a bank scam and who wants to
invest in that? Especially when the government looks the other way while
banks often improperly foreclosed on so many people immediately after those
same people bail the banks out of their financial problems.
F…the banks. We should all be burning them down and hanging their execs
in the streets.
They are called banksters for a reason…
It is time to really hang some banksters! Tax Wall Street with a Wall
Street sales tax. Tax speculation! Make foreclosures illegal for 5 years or
for the duration of the crisis. Enough of this bankster creative
destruction, in that they burn down your house and sell you the charcoal!
Also don’t bail out these banks take them over if they are insolvent! This
happens all the time to small banks. Take out the ones that are too big to
fail!
One question, who would be stupid enough to play ball with the banks’
derivative bets?
“90%” of “house [real estate] debt” is NOT backed by the government, and
real estate trends, including the last housing bubble, are NOT the
responsibility of the government – that’s one of those adorable, ignorant
conservative myths, because Republicans need to blame government rather
than Wall Street or their “free market = hand of God” ideology dies under
the weight of it’s soul-crushing, life-destroying reality. ACORN and
government housing programs had nothing to do with the housing bubble of
risky debt, mass securities fraud and resulting financial crisis; ACORN and
related affordable housing advocates, like the groups in this story, even
tried to be the canary in the coalmine and warn of the real estate
industry’s risky, fraudulent lending and predatory targeting of low-income
buyers, but nobody wanted to listen. Then afterwards Republicans came out
and painted them as a villain for political fundraising purposes and Fox
ratings, and Wall Street reps were eager to support that BS theory in place
of accepting their very specific responsibility. The sad part is how
gullible and naive people (conservatives) are about anything with a whiff
of scandal or conspiracy; they believe any ridiculous nonsense they’re told
by conservative media, then go around acting smug and outraged like they
know something.
American politics are now so absurd, Congressional Republicans demanded
language in the most recent budget banning any government support for ACORN
– which no longer exists – based on their own ignorant rhetoric and
demagoguery. Ignorance breeding ignorance breeding ignorance, even on the
floors of Congress. Meanwhile, nobody even bothered to regulate the actual
behavior that caused the loss of a trillion dollars from the economy
overnight, and Republicans fought to weaken the one already weak financial
regulation bill that was passed since 2008.
Only one person can fix this housing crisis and prevent another one from
ever happening again and that is President Sarah Palin! She will fix it
with Palinomics! Palinomics will be bubble free!
A lot of this is on Obama’s shoulders. It’s sad that they set the system up
almost exactly like it was set up before.
“wallstreet? how about government inflating everythign and keep IR low?
stop blaming wallstreet and learn what the real problem is”
I love how the asshole who posted this made it so nobody could respond.
Somebody should tell him that Wall St. and the government are intertwined.
lol. I thought bill burr would show up at the end of the vid. Bill is also
obsessed with the bankers and their home ownership scams.
Peter Schiff has been warning about this (and getting laughed at) for at
least the past 2 years. How are these “too big to fail” and smaller banks
recapitalizing to get in on these properties? Quantitative Easing anyone?
But yeah, QE is saving jobs, right Paul Krugman people? It would be such a
horrible shame if housing prices fell and the working class could afford to
save and purchase them without going into mortgage debt… Does anyone
remember back when people used to buy houses to actually live in them
instead of using them as investments or collateral?
It’s a very small bubble now compared to ’07. If it “pops” this year, it
won’t mean very much, but if it continues to grow at its current rate, it
will be set for catastrophe in 2-3 years.
I really hope the housing crisis happens. The first time it happen I was
like 16 no income, no down payment no nothing. I have been praying to have
another bubble burst happen now as I am 25. With a down payment and so on.
I really want to get a house with 1.25% interest. My aunt bought a house
when the bubble burst with 76 month 0% interest. She made sure to pay off
the house within the 76 months and she did. So she bought a house with free
money from the banks.
want to beat those crooked banks? Don’t do business with the banks. Problem
solved.
o.0 o.0 Bubbling seems to be the new name for stealing.
People who have already lost so much like jobs, homes retirement etc. will
only take so much. If the government won’t do it’s job it encourages
vigilante actions. If some of these Wall St. types start getting hurt,
things will get ugly.
Wall Street does not care because it knows it will be bailed out yet again.
But I think if that happens again, people will go ape-shit. The thing is,
Wall Street bankers are so arrogant, and have got away with so much, that
they think they can get away with this ad infinitum.
This is what UK get… Bank needs 10% deposit to fractionally reserve the
loan, so they lend you 110% of the value to cover the deposit or they sell
you a 25% share of the property and rent you the rest via a 3rd party, and
then there’s interest only loans where you gamble inflation will eat your
debt over 30 years, effectively paying rent to the bank. Whatever happened
to sensible 3x income mortgages?
We are destined for continued booms and busts in housing until we stop
treating them like a commodity. Houses are meant to be places to live and a
hedge against inflation. Not a means to place bets. But now, we are playing
these games and Wall Street is at the forefront.
I went to get a home loan and was shocked that the bank (Wells Fargo) was
offering me an ADJUSTABLE RATE MORTGAGE. Did they not remember what
happened a few years ago?? People are idiots for getting back into ARMs
with these low interest rates
What I love is you democRATS have already picked Hillary. How is a 70 year
old establishment shill who shakes like a bowl of lemon-lime Jello, going
to take on the young curley haired “Mr Smith goes to Washington”
filibustering hero, Rand Paul? You people are fucking nuts! I cant wait
till 2016!
This is happening because The Federal Reserve artificially lowered interest
rates to below the market level, and because the Federal Government is
guaranteeing these home mortgage loans by promising to pay off any
delinquent mortgages, then this gives Banks the incentives to create a
Housing Bubble by raising the home prices above the true market value. This
entire Bubble was created by Actual Government Policy.
Remember, a Bank’s primary goal is to 1. Survive and 2. Turn a profit
….these actions are a direct result of government meddling into the
market and then creating unintended consequences. This is a totally
unfortunate thing any way you look at it
Cenk may have good intentions but his knowledge of economics is nothing