"Steve" <steve@[EMAIL PROTECTED]
> wrote in message
news:yIvmi.19$uw2.173226@[EMAIL PROTECTED]
>
> "Billzz" <billzzstring@[EMAIL PROTECTED]
> wrote in message
> news:701ee$4699bd49$9440b19b$8489@[EMAIL PROTECTED]
>> "Steve" <steve@[EMAIL PROTECTED]
> wrote in message
>> news:pthmi.18$SL.130176@[EMAIL PROTECTED]
>> >
>> > <editor@[EMAIL PROTECTED]
> wrote in message
>> > news:1184429897.849156.138750@[EMAIL PROTECTED]
>> >> On Jul 14, 12:13 pm, "Morton Davis" <antike...@[EMAIL PROTECTED]
> quoted me:
>> >> > > If you want to get people thinking about what a lousy
president
>> >> > > Bush is, talk about $3+ gasoline, $4+ milk,
>> >>
>> >> and replied:
>> >> > President Bush has nothing to do with either. If the assholes keep
>> > trying to
>> >> > turn corn into fuel, you can expect $6 a gallon milk. Barber's
> b6rasnd
>> > name
>> >> > milk is already there.
>> >>
>> >> Bull**** - the dollar has become GENERALLY worth-less under Bush.
>> >> That's why your property taxes on your home have soared far faster
>> >> than inflation the past five years while Bush has been president.
>> >
>> > This is frankly an extremely ignorant statement. It's such an
ignorant
>> > statement because the obvious reality is that property taxes have
>> > soared
>> > because real estate values have soared due in large part to
> unprecedented
>> > low interest rates. Simple as that. It has nothing to do with Bush.
Of
>> > course you don't give Bush credit for the low interest rates, just
the
>> > blame
>> > for high real estate taxes, high gas prices, and any other negative
> thing
>> > you can think of.
>>
>> Umm. the US real estate market is in a decline for many months, and
will
> be
>> in a decline for many more months.
>
> Yeah so I keep hearing. Prices where I am don't reflect it although it
may
> be true of the truely insanely priced areas where prices and an upward
> trend
> in interest rates have simply priced homes beyond what buyers can
afford.
>
> A homeowner should check an appraisal
>> service (can be done for free on the internet) and then check next
year's
>> tax appraisal. It should be going down
>
> It isn't going down until there's a new tax *****ment value to use and
few
> areas have actually lost value so it will still go up albeit at a slower
> rate.
>
> - although your favorite county may
>> pass higher rates, to make up for the difference in your home's worth.
>> People who have multiple real estate holdings, for short amounts of
time
>> (called flippers) are going bankrupt.
>
> The one's who overpay and don't know what they are doing.
>
> Houses foreclosed and sold at auction
>> are at their highest.
>
> Being bought by flippers who do know what they are doing.
>
> Big lenders (like GE capitol) have, or are selling,
>> their underperforming sub-prime loans as fast as they can get rid of
>> them.
>
> I already said interest rates were at record lows or words to that
effect.
> Of course lenders are going to sell them if they can.
>
>> Many major mortgage companies will go bankrupt.
>
> Name one that has.
Here's this one...
http://www.bloomberg.com/apps/news?pid=20601087&sid=aJ.QWFrbqWBA&refer=home
There's others..
http://www.iht.com/articles/2007/05/08/business/subprime.4-48013.php
but it's the future that's more the problem.
>> It's not all politics. There is an actual economy going on despite
>> politics.
>
> I think I summed that up when I said it has nothing to do with Bush.
>
>
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