39 Comments on “Housing Crisis 2.0 Coming Soon Thanks To Wall Street”

  1. Can anyone explain what cenk said in this video?

    Like in a way an idiot would understand.

    Sorry my iq is really low

  2. 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. 

  3. 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.

  4. 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.

  5. wall street? 90% of house debt is backed by government, ten points for
    who is most responsible for ongoing trends

  6. 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!

  7. 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!

  8. 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.

  9. government will do nothing, as they fear no consequences. anything that
    happens will be Bush’s fault, and the brainwashed voters will believe it.

  10. 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. 

  11. 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!

  12. “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.

  13. 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!

  14. 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. 

  15. “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.

  16. 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.

  17. 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?

  18. 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.

  19. 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. 

  20. 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.

  21. 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.

  22. 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?

  23. 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.

  24. 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

  25. 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!

  26. 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

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