Comments on: Depression Porn: How Banks Are Gaming The Real Estate Market

By: apartmentpaphos

apartmentpaphos — Thu, 28 Jan 2010 01:57:18 +0000

thanks for the post..really great to see how the banks are gaming the real estate market..

By: cyprus

cyprus — Mon, 25 Jan 2010 12:12:28 +0000

btw..my professor told me that the cause of the economic crisis were in the housing industry..and part of the housing industries are the banks since its them who supply the people with money to buy real estates..

By: cyprus

cyprus — Fri, 15 Jan 2010 15:30:26 +0000

thanks for the info..a lot of people here are discusing about it..

By: motorfirebox

motorfirebox — Sun, 14 Jun 2009 06:09:54 +0000

Col Frost is an idiot. “the prices fall because the houses were shit”? if it were that simple, the prices would have never risen in the first place. yes, much of the housing built during the bubble’s expansion is comprised of prefab crap homes that will rot apart within two decades, but the price on those homes is derived from a combination of many factors, only one of which is quality.

of course, i suppose i shouldn’t expect reasoned analysis from the sort of special needs case that puts stock in white power.

By: captain america

captain america — Fri, 12 Jun 2009 04:12:50 +0000

guess that last post was too boring for you, exile guys. i was just calling to say i love you, spade. my calls for murder and rape are just that…calls for someone to love. i definitely understand your preference to ignore easily-influenced sycophants like myself. however unlikely, it could occur to a few of your other stalker freaks besides me that I support every human rights violation of the bush administration, as long as it’s directed against the “right” victims.

you may be smarter than i am, but you’re not as pathetic as i am.

By: Captain my captain

Captain my captain — Fri, 12 Jun 2009 00:50:35 +0000

Col. Frost for Congress! Running on the Lumpen Bougey Whites ticket.

By: captain america

captain america — Fri, 12 Jun 2009 00:15:20 +0000

i advocate arson as a valid form of political protest. that’s why i dream about burn down buildings.

unlike the exile and mark ames, i approve of self-mutilation and prison rape as forms of masturbation against my political enemies. if that’s “yum-yum” (ouch…big penises make my mouth hurt), so be it.

By: aleke

aleke — Thu, 11 Jun 2009 11:21:58 +0000

@ captain america

Mark Ames and Yasha are writing about it, and what are you doing? Being a bitchy reactionary. Go burn down your own banker’s house, asshole. Or at least do some sleuthing around for people who aren’t cowards.

Maybe you aren’t some sad-sack rightist with a deep sense of cognitive dissonance pervading your every thought ( a troll? yes, that’s the troll archetype isn’t it). Maybe instead you’re some sad-sack coward that needs a leader to take the plunge for him to normalize revolutionary violence, make it okay to burn a scumbag’s status symbol down.

Nah, you’re probably just the former. No wonder irony is such an English-language phenomenon, wrapped in disenfranchisement and the workings of a sophisticated caste system. Troll and reactionary, how thin the line.

By: dunnart

dunnart — Wed, 10 Jun 2009 23:26:19 +0000

dont get a loan if ya’ cant sevice it… shiiiit!

By: captain america

captain america — Wed, 10 Jun 2009 04:40:17 +0000

hey eee, why don’t you and mark ames go and kick off the banker house burning party?

yeah, i thought so.

By: Matt

Matt — Tue, 09 Jun 2009 18:59:48 +0000

So true. The lies just get worse and worse, everywhere. Below, the housing recovery in NYC is on!

http://www.nytimes.com/2009/06/07/realestate/07cov.html?ref=realestate

Meanwhile the magazine reports that there has been a 26% increase of so-called “unusual cases” (lumpen bougey whites, I guess) signing on for food-stamps, in fucking Manhattan. 26%! Those two trends just do not jibe.

By: eee

eee — Tue, 09 Jun 2009 16:11:39 +0000

Let’s see if we can get addresses of “shadow inventory” homes, then burn them to the ground. That will really increase the value of the homes for sale and maybe create construction jobs. Only problem is that with fire depts. going broke, the entire neighborhood might go.
Hmm … better yet, how about the bankers’ addresses!

By: jimbo bubba

jimbo bubba — Tue, 09 Jun 2009 05:19:18 +0000

Peak Oil is here. The bad economy has pushed it back temporarily. If the economy picks up again, We are instantly against the wall of peak oil. If the economy does not pick up depletion will set in anyway. Peak oil is how much can be taken out of the ground in a given time, the production rate. Oil in the ground is not a big pool, rather the oil seeps throw the ground to where the well is.It seeps at what ever speed it does, nothing can change that.

By: gary

gary — Mon, 08 Jun 2009 22:28:58 +0000

banks bad bad bad…butwhat good does it do a bank to hold hundreds of millions of dollars worth of houses when nobody is paying mortgages..rather sensible not to try and sell them all at once

By: Scott Blanchard

Scott Blanchard — Mon, 08 Jun 2009 22:16:57 +0000

This is the truth. Its going on in my neighborhood in Central Virginia. The banks put the houses in the paper for auction, but they have a reserve and if they don’t get that they just create a mortgage for themselves and start paying 8-900 a month and save having to write off the big numbers. They can pay that for 3-4 years with no problem and come out ahead, since we’re footing the bill for the difference. After a few years they figure things will turn around and they’ll make up the difference. Nice theory but they don’t keep up the neighborhoods when they do that.

By: Jeff

Jeff — Mon, 08 Jun 2009 20:40:46 +0000

Like the article up until the last line.

This hasn’t been a free market since 1913. The Fed Reserve caused this and the first Depression. Facts I get, but irony is totally out of reach for idiots like me.

By: geo8rge

geo8rge — Mon, 08 Jun 2009 20:18:59 +0000

coldequation: “$800-900? That’s about what it would cost you to rent”

How many people have a secure income of $2400 to $2700 a month with secure familly health care benefits? Don’t such people already own?

By: Carlito

Carlito — Mon, 08 Jun 2009 19:48:12 +0000

Decent article, but not the most timely: http://www.financialsense.com/fsu/editorials/schiff/2009/0403.html

By: inflation

inflation — Mon, 08 Jun 2009 19:28:34 +0000

Doesn’t matter. The FED is just going to keep printing money until the whole thing blows.

By: isamu

isamu — Mon, 08 Jun 2009 13:56:18 +0000

Protip: 1,800 sqf is not a McMantion.

Also, there are dozens of sites dedicated to covering the Bubble that are much more accurate and informative and don’t have some silly political spin on what is happing (gosh, those banks don’t want to flood the market with houses all at once! How evil of them!).

yours in Christ,
isamu