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» Hard Core Talk » General » GENERAL DISCUSSION BOARD » The housing market is taking a dive. (Page 3)

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Author Topic: The housing market is taking a dive.
Bare
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There are parts of the area I live in that when I turn on a street there's just a row of 'Bank Owned' signs all the way down, both sides. Estimates are running that this will go on till June, July of next year. The housing package the POTUS just signed started out with an $800billion credit line for Fannie Mae and Freddie Mac(F&F). By the time it got to the Presidents desk, the credit line was left open, aka, a blank check. From what I understand thus far, the package will be an attempt to curb the last 6 months of this problem. It makes the S&L debacle of the 80's seem like a Sunday afternoon stroll in the park.

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Posts: 3571 | From: California | Registered: Feb 2003  |  IP: Logged
Hankster2
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Where do they expect to "find" all this bailout money???

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All thats necessary for Evil to triumph, is for Good men to do nothing.

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Jungle Work
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The Housing Market and the Economy is running great in Amarillo, Texas. My son in law is a Realestate Agent and his business is booming.
Very little repo on houses in this area.
The Oil Economy and Bell Helicopter are driving the economy here. Jobs go unfilled.

Jungle Work

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Bare
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quote:
Originally posted by Hankster2:
Where do they expect to "find" all this bailout money???

It's called the future. They "borrow" (aka, print) money then make interest only payments from future tax revenues. The national debt goes up and up and never down. What a racket, eh?

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Posts: 3571 | From: California | Registered: Feb 2003  |  IP: Logged
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