According to the weekly standard, owning a home will be virtually impossible for the current and future generations of Americans not in the 1%, Reuters .

...........

Sweet. They now reep what they sowed. Baby Boomers = America's 2nd worst generation which spawned the current 20-30 somethings which = American's worst generation. Crap procreating more crap.

not sure how you can call gens x, y and millenials the worst. boomers still have the vast majority of political power in the country and will for awhile. we're only just beginning to work off the hangover the boomers have created.

yeah there are some spoiled little shits running around right now, but you can't blame the kids because there aren't enough decent jobs for them and because the economy has been wrecked.

The support for home prices will come from Echo Boomers, which are nearly as large a cohort as the baby boomers, will hit their peak earning years of 45-55 in the mid-2020's.

The X and Y kids (and the niggers) are responsible for Obozo being elected POTUS twice!

They thought it would be "cool" and "hip" to have a black POTUS, never mind the fact that he is supremely unqualified which is now clearly obvious to anyone with a brain.

We havent begun to see wreckage yet.

If home ownership is down then the cause is probably more related to behavior than the economy.

We've been through bad economies before. But today's 20-30-40 somethings tend to have lousy credit and little to no savings which disqualifies them from buying a house. And this is perfectly ok, irresponsible people shouldn't be able to buy homes.

The system works... Wrote:
-------------------------------------------------------
> If home ownership is down then the cause is
> probably more related to behavior than the
> economy.
>
> We've been through bad economies before. But
> today's 20-30-40 somethings tend to have lousy
> credit and little to no savings which disqualifies
> them from buying a house. And this is perfectly
> ok, irresponsible people shouldn't be able to buy
> homes.


Republican talking points

Republican't Wrote:
-------------------------------------------------------
> The system works... Wrote:
> --------------------------------------------------
> -----
> > If home ownership is down then the cause is
> > probably more related to behavior than the
> > economy.
> >
> > We've been through bad economies before. But
> > today's 20-30-40 somethings tend to have lousy
> > credit and little to no savings which
> disqualifies
> > them from buying a house. And this is
> perfectly
> > ok, irresponsible people shouldn't be able to
> buy
> > homes.
>
>
> Republican talking points

So your argument is people with no down payment and bad credit SHOULD be able to buy homes?

Is that a democrat talking point?

Stabitha Wrote:
-------------------------------------------------------
> The X and Y kids (and the niggers) are responsible
> for Obozo being elected POTUS twice!
>

Amen..

Very Intelligent and Logical Wrote:
-------------------------------------------------------
> Republican't Wrote:
> --------------------------------------------------
> -----
> > The system works... Wrote:
> >
> --------------------------------------------------
>
> > -----
> > > If home ownership is down then the cause is
> > > probably more related to behavior than the
> > > economy.
> > >
> > > We've been through bad economies before. But
> > > today's 20-30-40 somethings tend to have
> lousy
> > > credit and little to no savings which
> > disqualifies
> > > them from buying a house. And this is
> > perfectly
> > > ok, irresponsible people shouldn't be able to
> > buy
> > > homes.
> >
> >
> > Republican talking points
>
> So your argument is people with no down payment
> and bad credit SHOULD be able to buy homes?
>


why not? who are they hurting?

The system works... Wrote:
-------------------------------------------------------
> If home ownership is down then the cause is
> probably more related to behavior than the
> economy.
>
> We've been through bad economies before. But
> today's 20-30-40 somethings tend to have lousy
> credit and little to no savings which disqualifies
> them from buying a house. And this is perfectly
> ok, irresponsible people shouldn't be able to buy
> homes.


Almost 90% of jobs created in this "recovery" are part time or temporary. Since Obama took office, there have only been about 300,000 full time, permanent jobs created in the private sector. How the heck can anyone buy a house working at Starbucks 7 days a week?

This is the 1930's all over again. FDR's policies extended the depression for 4 years - long after the rest of the world had already recovered. Massive Keynesian spending (think Obama's stimuluses) created the illusion of a recovery in 1933 - 35 but it was all paper money and the US didn't recover jobs and actual private industry growth until 1940 as it was ramping up due to WWII.

Doubt that McCain would have done any better. Probably worse considering how crappy most of his decisions are. But Romney would have had a much better chance of turning this economy around that Obama is doing. Yet it was those who are hurt most by this economy that voted for Obama. Truely they reap what they sow.....

The housing industry pulled forward demand from the future when the governments implemented downpayment assistance programs in the 00s. The programs went toward getting lower income ethnicities and younger families into homes before they were financially ready. They would be in their 30s and buying today, but are now credit-impaired.

Part of the reason for the bubble today is that FHA loans now allow people to buy even if they're only 1 year out of foreclosure. Historically, the length of time was 7 years and gradually decreased to 4 or 5.

ex-Lester Wrote:
-------------------------------------------------------
> The housing industry pulled forward demand from
> the future when the governments implemented
> downpayment assistance programs in the 00s. The
> programs went toward getting lower income
> ethnicities and younger families into homes before
> they were financially ready. They would be in
> their 30s and buying today, but are now
> credit-impaired.


True.

And by creating artificial demand for returns on capital and the resulting funds flow which drove things on the back end of that.

The third-party downpayment charity programs were illegal before 2001/2002. Under lobbying by the industry, HUD gave approval. It's one of the main reasons for the bubble in subprime. They couldn't come up with the money on their own before then. They essentially had access to nothing-down financing of real estate.

Not all of them. My kid bought a house recently. He's an engineer and she's a teacher, both out of school within the last few years. The crash was the best thing that could have happened for them. They bought at prices that were 60% of where they were at the peak and at a bargain interest rate.

Really just moving back to more realistic levels versus some imaginary world where everyone has an inalienable right to a McMansion of their own with a 3-car garage, atrium foyer, and granite countertops.

The system works... Wrote:
-------------------------------------------------------
> If home ownership is down then the cause is
> probably more related to behavior than the
> economy.
>
> We've been through bad economies before. But
> today's 20-30-40 somethings tend to have lousy
> credit and little to no savings which disqualifies
> them from buying a house. And this is perfectly
> ok, irresponsible people shouldn't be able to buy
> homes.

That is hardly accurate or fair. Kids today are far more likely to leave school with massive debt loads, the result of rampant inflation in college costs coupled with demands for higher level degrees for entry level positions. Once they get out they will be facing home prices far more than three to four times their gross income, plus requirements for significant down payments.

Bill.N. Wrote:
-------------------------------------------------------
> The system works... Wrote:
> --------------------------------------------------
> -----
> > If home ownership is down then the cause is
> > probably more related to behavior than the
> > economy.
> >
> > We've been through bad economies before. But
> > today's 20-30-40 somethings tend to have lousy
> > credit and little to no savings which
> disqualifies
> > them from buying a house. And this is
> perfectly
> > ok, irresponsible people shouldn't be able to
> buy
> > homes.
>
> That is hardly accurate or fair. Kids today are
> far more likely to leave school with massive debt
> loads, the result of rampant inflation in college
> costs coupled with demands for higher level
> degrees for entry level positions. Once they get
> out they will be facing home prices far more than
> three to four times their gross income, plus
> requirements for significant down payments.


To a large extent because we've done the exact same thing with higher education and related financing. Same effect. Prices are forced up beyond true value/ability to pay and eventually the market value then adjusts accordingly to reality. What's the real value of a highly subsidized and leveraged degree in a typical generalist-type field when everyone else and their brother has one?

Not everyone falls into that nonsense. Lots of people come out of school with marketable degrees and little debt because they're realistic as far as selecting a major, go to in-state schools, work while in school, etc., etc. Look at the employment rates and starting salaries for in-demand technical fields and you see an entirely different picture. The go away to an expensive out-of-state private school to major in some academic area with trivial job prospects for the "college experience" and because it's marginally interesting and something you can handle without too much work is done. Other than for the few who have the luxury of doing so and largely don't have to worry about the cost/job prospects. Or should be done anyway at least. If you're dumb enough to do it, then that's on you.

Stabitha Wrote:
-------------------------------------------------------
> The X and Y kids (and the niggers) are responsible
> for Obozo being elected POTUS twice!
>
> They thought it would be "cool" and "hip" to have
> a black POTUS, never mind the fact that he is
> supremely unqualified which is now clearly obvious
> to anyone with a brain.
>
> We havent begun to see wreckage yet.


Anyone with a "brain" wouldn't post here.

Duh........2909 and counting Wrote:
-------------------------------------------------------
> >
>
> Anyone with a "brain" wouldn't post here.

And yet here you are posting?

You probably have way more than 2909 posts, just under 50 different names. Grow a set and register a name and quit fucking around.

Stabitha Wrote:
-------------------------------------------------------
> The X and Y kids (and the niggers) are responsible
> for Obozo being elected POTUS twice!
>
> They thought it would be "cool" and "hip" to have
> a black POTUS, never mind the fact that he is
> supremely unqualified which is now clearly obvious
> to anyone with a brain.
>
> We havent begun to see wreckage yet.

Or, maybe the majority of voters recognized McSame & Mittens as the shitty candidates they were.

homo ner Wrote:
-------------------------------------------------------
> According to the weekly standard, owning a home
> will be virtually impossible for the current and
> future generations of Americans not in the 1%,
> Reuters .

Complete bullshit.

Good - about time the public understood the term Overloard was developed from Landlord. Eat your mutten and be happy for it.