Comments on: Still Trying to Find a Correlation Between the Shift and the Residential Real Estate Market http://www.realcentralva.com/2008/10/01/still-trying-to-find-a-correlation-between-the-shift-and-the-residential-real-estate-market/ Tracking Charlottesville's Real Estate Market since 2005 Fri, 19 Mar 2010 17:02:49 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: shashindra http://www.realcentralva.com/2008/10/01/still-trying-to-find-a-correlation-between-the-shift-and-the-residential-real-estate-market/comment-page-1/#comment-19113 shashindra Fri, 10 Oct 2008 11:46:00 +0000 http://www.realcentralva.com/2008/10/01/still-trying-to-find-a-correlation-between-the-shift-and-the-residential-real-estate-market/#comment-19113 I think it’s fair to say that I oppose this bailout (and I’m hoping to close on a mortgage in the next few weeks!) I guess eight years of a Bush presidency has made me into something of an economic conservative. I think it’s fair to say that I oppose this bailout (and I’m hoping to close on a mortgage in the next few weeks!) I guess eight years of a Bush presidency has made me into something of an economic conservative.

]]> By: B. Meyer http://www.realcentralva.com/2008/10/01/still-trying-to-find-a-correlation-between-the-shift-and-the-residential-real-estate-market/comment-page-1/#comment-18984 B. Meyer Thu, 02 Oct 2008 15:58:50 +0000 http://www.realcentralva.com/2008/10/01/still-trying-to-find-a-correlation-between-the-shift-and-the-residential-real-estate-market/#comment-18984 Has anybody checked this proposed alternative to the bailout? It's very interesting: http://www.daveramsey.com/etc/fed_bailout/ Click on the PDF of "Common Sense Plan" Has anybody checked this proposed alternative to the bailout? It’s very interesting:

http://www.daveramsey.com/etc/fed_bailout/

Click on the PDF of “Common Sense Plan”

]]> By: jmcnamera http://www.realcentralva.com/2008/10/01/still-trying-to-find-a-correlation-between-the-shift-and-the-residential-real-estate-market/comment-page-1/#comment-18982 jmcnamera Thu, 02 Oct 2008 15:20:33 +0000 http://www.realcentralva.com/2008/10/01/still-trying-to-find-a-correlation-between-the-shift-and-the-residential-real-estate-market/#comment-18982 Here is a short article with quotes from our elected representatives when told about this problem a few years ago. They deliberately ignored it and disparaged those who brought them what we all know now was true. http://online.wsj.com/article/SB122290574391296381.html The biggest problem with this bailout is those who borrowed and lent responsibly are the ones who have to pay for it. Here is a short article with quotes from our elected representatives when told about this problem a few years ago. They deliberately ignored it and disparaged those who brought them what we all know now was true.

http://online.wsj.com/article/SB122290574391296381.html

The biggest problem with this bailout is those who borrowed and lent responsibly are the ones who have to pay for it.

]]> By: Jim Duncan http://www.realcentralva.com/2008/10/01/still-trying-to-find-a-correlation-between-the-shift-and-the-residential-real-estate-market/comment-page-1/#comment-18981 Jim Duncan Thu, 02 Oct 2008 12:18:51 +0000 http://www.realcentralva.com/2008/10/01/still-trying-to-find-a-correlation-between-the-shift-and-the-residential-real-estate-market/#comment-18981 Yup - Webb and Warner are no better <a href="http://www.politico.com/news/stories/1008/14196.html" rel="nofollow">than the rest of 'em</a>. I wish we could do a recall vote. When's the revolution? Yup – Webb and Warner are no better than the rest of ‘em. I wish we could do a recall vote. When’s the revolution?

]]> By: Jim Duncan http://www.realcentralva.com/2008/10/01/still-trying-to-find-a-correlation-between-the-shift-and-the-residential-real-estate-market/comment-page-1/#comment-18980 Jim Duncan Thu, 02 Oct 2008 11:56:53 +0000 http://www.realcentralva.com/2008/10/01/still-trying-to-find-a-correlation-between-the-shift-and-the-residential-real-estate-market/#comment-18980 I'm having trouble figuring out what wooden arrows, the Exxon Valdez, Mental health parity, etc. have to do with freeing up the credit markets. All I know is this - our representatives clearly are not doing the jobs they were hired to do - adding $100 Billion + in pork to a bill ostensibly designed to rescue our already flagging and burdened financial system is not responsible behavior. Add to that the impossibility that any of them actually read the bill first, and you have gross negligence worthy of immediate termination if they held "real" jobs. Relating this to my world, if I advised my clients to sign a new contract from another state that I'd never read but to which they would be bound, I'd be sued for misrepresentation, negligence, damages, etc. Congress just play by different rules. All I can do is keep doing what I'm doing here in Charlottesville - represent clients as best I can - because clearly those in Washington don't care. I'm still trying to find out how Webb and Warner voted. I'm not necessarily opposed to an attempt to address the issues - bad mortgages and assets and the credit freeze - but this bill is not about those issues. I’m having trouble figuring out what wooden arrows, the Exxon Valdez, Mental health parity, etc. have to do with freeing up the credit markets.

All I know is this – our representatives clearly are not doing the jobs they were hired to do – adding $100 Billion + in pork to a bill ostensibly designed to rescue our already flagging and burdened financial system is not responsible behavior. Add to that the impossibility that any of them actually read the bill first, and you have gross negligence worthy of immediate termination if they held “real” jobs.

Relating this to my world, if I advised my clients to sign a new contract from another state that I’d never read but to which they would be bound, I’d be sued for misrepresentation, negligence, damages, etc. Congress just play by different rules.

All I can do is keep doing what I’m doing here in Charlottesville – represent clients as best I can – because clearly those in Washington don’t care.

I’m still trying to find out how Webb and Warner voted.

I’m not necessarily opposed to an attempt to address the issues – bad mortgages and assets and the credit freeze – but this bill is not about those issues.

]]> By: Waldo Jaquith http://www.realcentralva.com/2008/10/01/still-trying-to-find-a-correlation-between-the-shift-and-the-residential-real-estate-market/comment-page-1/#comment-18979 Waldo Jaquith Thu, 02 Oct 2008 03:14:48 +0000 http://www.realcentralva.com/2008/10/01/still-trying-to-find-a-correlation-between-the-shift-and-the-residential-real-estate-market/#comment-18979 I'm with you, Andy—despite being (I think) a pretty well-informed citizen, and spending a good bit of time reading up on what's going on here, I really just don't understand what this bill does specifically and what its overall goal is. Right now, I think it's fair to say that I oppose this bailout (and I'm hoping to close on a mortgage in the next few weeks!) I guess eight years of a Bush presidency has made me into something of an economic conservative. I’m with you, Andy—despite being (I think) a pretty well-informed citizen, and spending a good bit of time reading up on what’s going on here, I really just don’t understand what this bill does specifically and what its overall goal is.

Right now, I think it’s fair to say that I oppose this bailout (and I’m hoping to close on a mortgage in the next few weeks!) I guess eight years of a Bush presidency has made me into something of an economic conservative.

]]> By: Andy Kinley http://www.realcentralva.com/2008/10/01/still-trying-to-find-a-correlation-between-the-shift-and-the-residential-real-estate-market/comment-page-1/#comment-18978 Andy Kinley Thu, 02 Oct 2008 01:54:42 +0000 http://www.realcentralva.com/2008/10/01/still-trying-to-find-a-correlation-between-the-shift-and-the-residential-real-estate-market/#comment-18978 I have read several of Waldo's recent and quality posts and many (too many) other economic sites. I feel like the media and Paulson et al have done an extremely poor job describing what this bill actually does and what it will or will not accomplish. I've come to realize that that was their plan. This is grand theft. It looks like the Senate just passed the bill. If you have a minute, check out the added bonuses: Extension of economic development credit to American Samoa (p. 279) Rum excise tax to Puerto Rico and the Virgin Islands (p. 279) Motorsports racing track facility (p. 290) Wool modifications (p. 295) Children and wooden arrows (p. 300) I have read several of Waldo’s recent and quality posts and many (too many) other economic sites. I feel like the media and Paulson et al have done an extremely poor job describing what this bill actually does and what it will or will not accomplish. I’ve come to realize that that was their plan. This is grand theft.
It looks like the Senate just passed the bill.
If you have a minute, check out the added bonuses:
Extension of economic development credit to American Samoa (p. 279)
Rum excise tax to Puerto Rico and the Virgin Islands (p. 279)
Motorsports racing track facility (p. 290)
Wool modifications (p. 295)
Children and wooden arrows (p. 300)

]]> By: Jim Duncan http://www.realcentralva.com/2008/10/01/still-trying-to-find-a-correlation-between-the-shift-and-the-residential-real-estate-market/comment-page-1/#comment-18977 Jim Duncan Thu, 02 Oct 2008 01:34:54 +0000 http://www.realcentralva.com/2008/10/01/still-trying-to-find-a-correlation-between-the-shift-and-the-residential-real-estate-market/#comment-18977 Andy - Does <a href="http://waldo.jaquith.org/blog/2008/10/bailout-big-number/" rel="nofollow">this</a> make you feel any better? :) I can't support a bill that not everyone voting for it has actually read. Andy –

Does this make you feel any better? :)

I can’t support a bill that not everyone voting for it has actually read.

]]> By: Andy Kinley http://www.realcentralva.com/2008/10/01/still-trying-to-find-a-correlation-between-the-shift-and-the-residential-real-estate-market/comment-page-1/#comment-18976 Andy Kinley Thu, 02 Oct 2008 01:03:41 +0000 http://www.realcentralva.com/2008/10/01/still-trying-to-find-a-correlation-between-the-shift-and-the-residential-real-estate-market/#comment-18976 I'm at a loss that Congress can have a congressional hearing about steroids in baseball, but not for planning and determining the most cost effective and beneficial approach to recapitalize banks. We need to hear from a panel of independent economists who do not have any conflicts of interest. It is clear a rescue is essential for the US economy and other global economies. Respected economists are saying that there are much better ways to recapitalize banks besides buying their bad assets such as the government buying preferred shares of stock. I can't support a bill that started as a 4 page blank check and just got a bunch of ornaments hung on it. Whether this bill get passed or not, it is clear that we are going into a recession if we aren't already there. I’m at a loss that Congress can have a congressional hearing about steroids in baseball, but not for planning and determining the most cost effective and beneficial approach to recapitalize banks. We need to hear from a panel of independent economists who do not have any conflicts of interest. It is clear a rescue is essential for the US economy and other global economies. Respected economists are saying that there are much better ways to recapitalize banks besides buying their bad assets such as the government buying preferred shares of stock.

I can’t support a bill that started as a 4 page blank check and just got a bunch of ornaments hung on it. Whether this bill get passed or not, it is clear that we are going into a recession if we aren’t already there.

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