Another housing bubble?

Editorial from Investor's Business Daily: http://tinyurl.com/ctj8pvj
Kids sometimes quickly learn the hard way not to touch hot stoves. Adults learn much more slowly apparently.
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On 4/16/2013 5:37 AM, Dean Hoffman > wrote:

More Affirmative Action Lending? That's what kicked the feet out from under the economy before. Perhaps that's the goal of The Commiecrats, financially ruin as many people as possible which will make them dependent on government for everything. o_O
TDD
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On 4/16/2013 11:37 AM, The Daring Dufas wrote:

Forced into early retirement 20 years ago, I took a shot at being a realtor. Market was down and it was a crumby business so I only did it for a year. Believe me, the business was highly regulated and completely free of racial prejudice. Whether or not someone could get a mortgage was strictly based on economics. Lots of people were completely clueless as to what they could afford but all the mortgage people played by the same rules. The fine hand of the government caused the problem.
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On 4/16/2013 12:50 PM, Frank wrote:

My assertion has nothing to do with race. I could have gotten one of those Affirmative Action Loans which I knew I would have a severe problem with if something happened to me like an injury which it did. It's a good thing I didn't get a loan I didn't qualify for under normal circumstances. O_o
TDD
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On 4/16/2013 2:23 PM, The Daring Dufas wrote:

I think the excuse of racial prejudice is what got it started.
Too much for me to read:
http://en.wikipedia.org/wiki/Community_Reinvestment_Act
It was not the initial community investment act of 1977 that screwed things up but it was subsequent modifications.
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On 4/16/2013 2:20 PM, Frank wrote:

Well Frank most folks make the mistake of believing that Affirmative Action only applies to people of color. That's not the case but it is used to discriminate against White Male American citizens. Benn there, experienced that. When I use the term Affirmative Action loans, I'm using in the context of giving home loans to "any" person who would not qualify for it under the previous standards of qualifying for a home loan. I had a realtor tell me that I (someone who was well aware that I didn't qualify for a loan) could get a home loan. I knew darn well that I wouldn't be able to handle it if something happened to me so I didn't go for it. ^_^
TDD
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On Apr 17, 2:22 am, The Daring Dufas <the-daring-du...@stinky- finger.net> wrote:

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Similar problems over here in the past. 110% mortgages. The declaration of income of mortgagees never checked.
If the gov over here lets interest rates rise,there will be thousands can't pay their mortgages. A lot are in negative equity right now.
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On 4/17/2013 2:37 AM, harry wrote:

That's what happened to a lot of folks, they were lured in with a candy store of housing and they couldn't resist. Every time government decides to interfere with normal business practices, financial calamity results. The market will take care of itself if the government would quit trying to run it and stick to enforcing laws passed to go after crooks. Gee, I will never claim to be an expert on the economy but it has always seemed to me that there is a dearth of common sense whenever government starts screwing around with it. o_O
TDD
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On 4/16/2013 8:37 AM, The Daring Dufas wrote:

Actually sub-prime lending had very little to do with the recession. See <http://current.com/156uikc .
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Interesting read that.
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wrote:

They are doing similar here in the UK. http://m.bbc.co.uk/news/uk-politics-21881007
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