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mister magpie posted:hey guys there is a housing bubble rn in us again because rofl we don't actually learn any lessons and/or don't care about poor people getting hosed when our greed tanks the economy if there isn't a full on bubble with the housing market yet, there will be soon-ish. tromp / his administration decided not to renew the federal HAMP program that gave assorted protections to low-income homeowners and first-time home buyers, and they're working their asses off to repeal Dodd-Frank too. if fewer people are able to participate in home buying again, it'll either crash things when: a. there's too much back-stock on existing homes and prices drop accordingly when it becomes a buyer's market, thereby catastrophically lowering the value of the average home well below the outstanding mortgage balance b. or it'll crash when the banks realize a. is looming on the horizon, so they start offering mortgages to anyone that can fog a mirror, and the market gets flooded with bullshit loans that inflate the prices of the existing homes, and we'll literally get to watch 2007-08 happen again in real-time
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Jun 2, 2017 19:31
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Lindsey O. Graham posted:i'm gonna go with b for 500, because lol if we think the business class has to learn from or pay for it's mistakes, just lol and I just saw that the House (led by the illustrious Paul Ryan) is set to vote to repeal Dodd-Frank next Friday. just watch the dominoes fall
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Jun 2, 2017 20:54
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Not a Step posted:Dodd-Frank did little to nothing to curb the culture of rampant stupid risk taking, it just made it harder to leverage everything and lose it all at once. So yeah its going to terrifyingly hilarious when that very basic stricture is removed but that one mid-level manager from AIG or HSBC or where ever went to jail as the patsy for the entire industry. our problems are solved and the system is redeemed!
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Jun 3, 2017 06:35
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