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Thread: Home price drops exceed Great Depression: Zillow

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    Re: Home price drops exceed Great Depression: Zillow

    Quote Originally Posted by American View Post
    Let me guess, you want to break out that trite democrat solution to any American problem: steal income.
    and as always, you would be wrong
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

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    Re: Home price drops exceed Great Depression: Zillow

    Quote Originally Posted by justabubba View Post
    and as always, you would be wrong
    There is never anything wrong with less taxes. The govt should always have to justify taking money from citizens, not the other way around.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: Home price drops exceed Great Depression: Zillow

    Quote Originally Posted by American View Post
    I'm going to be trying to sell a house soon. Not looking forward to it at all.
    Good luck.

    I've heard that one thing that's making this recession so much worse is that jobs are opening up for certain sectors in other places, but those people who can apply for those jobs can't sell their current house to move but can't afford a new house until it gets sold.

    Because people are having such a difficult time being able to re-locate to job offers, it's making it more difficult for the economic rebound to happen.
    Also, we need to legalize recreational drugs and prostitution.

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    Re: Home price drops exceed Great Depression: Zillow

    Lowering or raising taxes is going to have absolutely nothing to do with the prices of homes or mortgages or the stabilization of the housing market.

    Rather, there should be a re-writing of regulations with regards to the housing and mortgage markets. I'm not saying more or less regulations - just a re-writing of them to prevent the kind of fraud that made such a housing and mortgage bubble that was so damaging to our economy.
    Also, we need to legalize recreational drugs and prostitution.

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    Re: Home price drops exceed Great Depression: Zillow

    Quote Originally Posted by American View Post
    There is never anything wrong with less taxes. The govt should always have to justify taking money from citizens, not the other way around.
    Then explain to me why the 2000s were the slowest decade (even if you stop counting it before the Great Recession) for economic growth since the Great Depression?

    Were the Bush Tax Cuts Good for Growth? - NYTimes.com

    Even if you discount the Great Recession, average economic growth in the 2000s was a mere 2.39% (if you include it, it was 1.66%). The 1970s - a decade we all know was pretty crappy - average growth was 3.29% - nearly TWICE as good as the 2000s.

    So if there's "never anything wrong" with tax cuts - why did the 2000s suck so much for the overall economy. And especially, why did it suck for nearly everyone except the top 1% of earners? I thought the Bush tax cuts were supposed to be "good for the economy". I see no evidence that they did anyone except the wealthiest Americans any good. And if those wealthiest Americans were supposed to create jobs with the money they get back from the government, why didn't that happen? Unemployment rates went from 4.2% to a peak high of 10.6% - ALL with the Bush tax cuts in force. So, why didn't those tax cuts create jobs? They didn't.

    Additionally, those oh-so-wonderful tax cuts, along with the Afghan and Iraq Wars are largely responsible for our annual budget deficits and amount to at least 10% more than stimulus and TARP combined. So, unless you're going to justify the tax cuts by cutting the spending FIRST, then you shouldn't simply celebrate tax cuts as being automatically good - especially when they are paired with two unfunded wars and are the single largest factor contributing to our deficit.

    Critics Still Wrong on What

    The myth that the pay for themselves is utterly false.

    Economist's View: The Myth That Tax Cuts Pay for Themselves

    This is just one of many studies who show that to be utterly false. Indeed, under the BEST economic circumstances, only 28% of lost revenues can be recouped by simple growth.

    Left to their own devices, indeed the Bush Tax Cuts would expand the deficit by 100% of GDP by 2050.

    Ezra Klein - The Bush tax cuts' effect on the deficit in one graph

    So, how again is there "never anything wrong" with less taxes? There is little evidence that there was anything right with the Bush tax cuts. Indeed, they are the largest single cause of the deficit, they left two wars unfunded (or paid for by our grandchildren, if not our great grandchildren), and did nothing to spark economic growth.

    If you argue that the stimulus hasn't done much for economic growth (and you could), then your argument would be based on the fact that post-recession, the average GDP growth is 2.918%, whereas Bush's decade overall was either 2.39% or 1.66%. So Obama's average GDP growth is already better than Bush's was. So the stimulus has produced a GDP that is higher than Bush's tax cuts could do and while they added to the deficit, they didn't add as much as the tax cuts and wars did.

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    Re: Home price drops exceed Great Depression: Zillow


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    Re: Home price drops exceed Great Depression: Zillow

    fully half those who received loan modifications thru obama's hamp (home affordable modification program) have redefaulted

    Half of U.S. Home Loan Modifications Default Again (Update1) - Bloomberg

    good money after bad, subprime methodologies on top of subprime failures, like heroin to an addict

    house oversight in pelosi's congress and tarp inspector general neil barofsky declare hamp a "miserable failure" which "actually harms the people it was intended to help"

    Obama Loan-Modification Effort

    how many of these people the us taxpayer is subsidizing are living in newer, larger and more upgraded homes than you?

    and where are the results?

    the collapse of housing is what brought us here

    and there's still no basement in sight

    that's a catastrophic concern to the masses of folks with killer mortgages on homes now worth so much less than what they paid, to all the industries dependent on real estate and construction...
    Last edited by The Prof; 01-13-11 at 11:41 AM.

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    Re: Home price drops exceed Great Depression: Zillow

    Quote Originally Posted by The Prof View Post
    fully half those who received loan modifications thru obama's hamp (home affordable modification program) have redefaulted

    Half of U.S. Home Loan Modifications Default Again (Update1) - Bloomberg

    good money after bad, subprime methodologies on top of subprime failures, like heroin to an addict

    house oversight in pelosi's congress and tarp inspector general neil barofsky declare hamp a "miserable failure" which "actually harms the people it was intended to help"

    Obama Loan-Modification Effort

    how many of these people the us taxpayer is subsidizing are living in newer, larger and more upgraded homes than you?

    and where are the results?

    the collapse of housing is what brought us here

    and there's still no basement in sight

    that's a catastrophic concern to the masses folks with killer mortgages on homes now worth so much less than what they paid

    to all the industries dependent on real estate and construction
    Of course the people that caused this bubble got bailed out, they lost nothing. This is the second time in my life I got ****ed by the housing market. The first time after the S&L crisis. I almost wonder if I should buy another house.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: Home price drops exceed Great Depression: Zillow

    Quote Originally Posted by FilmFestGuy View Post
    Then explain to me why the 2000s were the slowest decade (even if you stop counting it before the Great Recession) for economic growth since the Great Depression?

    Were the Bush Tax Cuts Good for Growth? - NYTimes.com

    Even if you discount the Great Recession, average economic growth in the 2000s was a mere 2.39% (if you include it, it was 1.66%). The 1970s - a decade we all know was pretty crappy - average growth was 3.29% - nearly TWICE as good as the 2000s.

    So if there's "never anything wrong" with tax cuts - why did the 2000s suck so much for the overall economy. And especially, why did it suck for nearly everyone except the top 1% of earners? I thought the Bush tax cuts were supposed to be "good for the economy". I see no evidence that they did anyone except the wealthiest Americans any good. And if those wealthiest Americans were supposed to create jobs with the money they get back from the government, why didn't that happen? Unemployment rates went from 4.2% to a peak high of 10.6% - ALL with the Bush tax cuts in force. So, why didn't those tax cuts create jobs? They didn't.

    Additionally, those oh-so-wonderful tax cuts, along with the Afghan and Iraq Wars are largely responsible for our annual budget deficits and amount to at least 10% more than stimulus and TARP combined. So, unless you're going to justify the tax cuts by cutting the spending FIRST, then you shouldn't simply celebrate tax cuts as being automatically good - especially when they are paired with two unfunded wars and are the single largest factor contributing to our deficit.

    Critics Still Wrong on What

    The myth that the pay for themselves is utterly false.

    Economist's View: The Myth That Tax Cuts Pay for Themselves

    This is just one of many studies who show that to be utterly false. Indeed, under the BEST economic circumstances, only 28% of lost revenues can be recouped by simple growth.

    Left to their own devices, indeed the Bush Tax Cuts would expand the deficit by 100% of GDP by 2050.

    Ezra Klein - The Bush tax cuts' effect on the deficit in one graph

    So, how again is there "never anything wrong" with less taxes? There is little evidence that there was anything right with the Bush tax cuts. Indeed, they are the largest single cause of the deficit, they left two wars unfunded (or paid for by our grandchildren, if not our great grandchildren), and did nothing to spark economic growth.

    If you argue that the stimulus hasn't done much for economic growth (and you could), then your argument would be based on the fact that post-recession, the average GDP growth is 2.918%, whereas Bush's decade overall was either 2.39% or 1.66%. So Obama's average GDP growth is already better than Bush's was. So the stimulus has produced a GDP that is higher than Bush's tax cuts could do and while they added to the deficit, they didn't add as much as the tax cuts and wars did.
    So based on your analysis, the higher we raise taxes, the more growth we get. Got it!
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

  10. #20
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    Re: Home price drops exceed Great Depression: Zillow

    Quote Originally Posted by American View Post
    So based on your analysis, the higher we raise taxes, the more growth we get. Got it!
    i missed it. please point out where in that post such conclusion was posited
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

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