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Folks, It's An Election Year


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2012 Apr 13, 3:02am   1,662 views  3 comments

by bmwman91   ➕follow (5)   💰tip   ignore  

A lot of us are perpetually hopeful that there will be some sort of "correction" in the Bay Area (and perhaps the rest of the nation) where house prices plummet again. Well, it is an election year, so there really is no chance of that. The two parties are going to do everything in their power to gain the broke-loan-owner vote. A LOT of people are under water or behind on their payments. It is no coincidence that the current administration is pushing hard for loan mods / principal reductions. Nothing gets votes like free money. Just you wait. Once the primaries are finished and the REAL election season fires up, it is going to get crazier.

Renters, people that are current on their mortgages & HELOCs and people that paid-off their houses will be cast aside as if their existence does not matter. As it is, they are already being made to feel like they are being punished for the sin of being responsible and not over-extending themselves. Anyone that is saving money is getting boned by the banking cartel known as the Federal Reserve (with the full blessing of the government) with historically low interest rates.

So, don't get your hopes up for 2012. The insanity is only going to grow until November. It doesn't really matter who wins because both candidates are bought & paid for by the exact same large financial interests, and they will push policies that appease their top contributors. The things that those groups want are precisely the things that are sucking the middle class dry, and giving many of us here reason to complain loudly.

After the election, I don't expect any new blow-job-for-the-irresponsible policies because their vote won't be important for about 3.5 more years. So, forget 2012 if you are looking for a primary residence in a neighborhood that you like. There will be a few exceptions here & there, but overall, wait patiently for the elections to be over, for the politicians to end the free BJs for loan-owners (they will, in fact, be given a pretty good case of the BLUE BALLS) and for a tiny bit of normalcy to return to the housing market. I'd say that this time in 2013 will look a little better, although there will be the usual spring/summer pump.

My guess is that by Q3 2013, the market will be a lot friendlier to buyers. Whatever principal reduction / loan mod programs are going to pop up now will be over & mostly ineffectual by then. Foreclosures will pick up a little since nobody is pushing to "keep people in their houses." The fact that prices will probably still decline a little between now & then, despite 2012 being promised as yet another bottom, will also squelch more of the delusional sellers' hope.

And of course, this could all be totally wrong. Perhaps in Q3 2013 there will be a total of 4 houses for sale in the BA, in Milpitas, for $2.3M, with no less than 143 cash offers on each from Chinese nationals with suitcases of cash. People will gather in the streets to watch, as predicted by some on here, Chinese and Indian parents do battle from their leased Mercedes SUVs, comparing their children's kindergarten aptitude test scores in order to determine who has rights to buy the house and access local schools. White parents are off watching their children express their feelings by eating glue paste, feeling secure in their knowledge that it is made from 100% organic horse hooves.

#housing

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1   freak80   2012 Apr 13, 3:11am  

bmwman91 says

Anyone that is saving money is getting boned by the banking cartel known as the Federal Reserve (with the full blessing of the government) with historically low interest rates.

Whoa whoa whoa...what? People are saving money??

2   bubblesitter   2012 Apr 13, 3:32am  

bmwman91 says

banking cartel known as the Federal Reserve

I call it banks+politicians nexus. It is built into American system,we need a revolution to break that.

3   freak80   2012 Apr 13, 3:51am  

bubblesitter says

I call it banks+politicians nexus. It is built into American system,we need a revolution to break that.

That's why we need Zombie Andrew Jackson for President!

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