johngonole

Fast and Easy Fannie

Basically because banks are banks they must not be allowed to fail. The government must by them out. The whole purpose of central banking was to eliminate the runs on the banks. The pain the public would inccur when small banks went belly up before the central banking system. Problem is that instead a few scattered banks going broke now we risk the whole banking systems going broke. So government bails them out by relaxing rules, with tax money, etc... So we get monetary inflation instead of scattered bank bankrupcies. Once the banks figured out they had no accountability anymore everything was allowed, loose credit was encouraged, etc... I remember the surprise on my mortgage brokers face when I came in and wanted to put 20% down.

On average over the long term I think we'd be better off placing our money in 10 banks evenly. Easy to do in the internet days. If one bank went broke I'd only lose 10%. Thats a heck of a lot better then losing 3-5% per year via inflation. So lets push to get rid of the Federal Reserve banking system. They are no longer needed. The service they provide (supposedly a sound banking system) can be done in either ways now. With technology people can easily spread their assets these days. I'd rather have a stable currency instead of this costly version of Fascism

Its time to get rid of the Federal Reserve. The banks and the government and way to many other industries are too closely tied together.

12 Observations on Residential Housing

Special1person your name says all we have to know about your political idealology. Pretty sure you want legislation that will benefit yourself and that is all you really care about.

Countrywide Financial: Who Didn't See It Coming?

I too started thinking there was a housing bubble 4 years ago. I should have bought a bigger house. Boy was I early. Since than house prices in alachua county florida are up like 60-100%. Land prices on open builder lots have doubled and tripled.

Alachua County is fairing much better than many other Florida counties however there is now a rather large number of planned homebuilder communities now on line and they are having trouble selling homes. Even the amount of existing homes for sale is way up. And the reported numbers don't tell the truth because I know of a number of people who want to sell but have taken down their signs because they think they might as well wait till the buyers come back. Meanwhile the medium price has been edging up in recent months but in housed under say 300000 I think the average price is really beginning to fall. I think land prices should drop to at least 2003 levels but so far they have stayed very expensive. I think the rest of Florida's real estate problems are beginning to spread to here as well. Alachua county has an extremely low unemployment rate (