Tag: realestate

Against Home Ownership

A variety of government policies and programs have dramatically increased home ownership. But lately, some have been advocating that the government stop subsidizing home ownership, arguing that it locks people to a place, and when the economy goes sour people need the flexibility to go where the jobs are. We need to take it farther and that, in addition to allowing the unemployed to move to work, encourage the employed to move closer to work.

and even in this unusually enlightened community, the brainwashing is still very strong. way too many “ownership” true believers.

Bye Dubai

Dubai is a place for the shallow and fickle. Tabloid celebrities and worn out sports stars are sponsored by swollen faced, botox injected, perma-tanned European property developers to encourage the type of people who are impressed by fame itself, rather than what originated it, to inhabit pastiche Mediterranean villas on fake islands. It’s a grotesquely leveraged version of timeshare where people are sold a life in the same way as being peddled a set of steak knives. As people scramble for the exits in Dubai, there is no ‘key mail’, like in America, where people can often mail back their house keys and walk away from a mortgage without the immediate threat of jail. People are literally fleeing this place, to date leaving 3000 cars stranded at the airport with keys still in the ignition. And the reason for this is that if you default on your Dubai mortgage, you can end up in a debtors prison. Perhaps Dubai will at least create a new Dickens?

dubai is disintegrating, fast. and las vegas will be next. good riddance!

Owner charade

After pouring vast amounts of money into financial institutions of almost every type, and having little to show for it, the Bush administration and the Federal Reserve are suddenly taking a new look at ordinary homeowners.

who are these “owners” they speak of? if they owned anything they would not need the help.

Kill The CRA

The CRA coerces banks into making loans based on political correctness, and little else, to people who can’t afford them. Enforced like never before by the Clinton administration, the regulation destroyed credit standards across the mortgage industry, created the subprime market, and caused the housing bubble that has now burst and left us with the worst housing and banking crises since the Great Depression.

the moral hazard of “everyone needs to be a homeowner” needs to be stopped.

The Pain on Main

When McGuinness produced the foreclosure notice, however, Conrad got angry and left the room. He returned with a .38 caliber pistol and announced, “You have 2 seconds to get off my property or you will go to the hospital.”

uses of the second amendment, an ongoing series: to do something stupid when you are evicted