Okay all kidding a side, how does our country fix this

You would think they could swap out engines real quick without major re-engineering.

Is now a good time to buy a house FredShrimp?

Rates right now are the probably the lowest you will see in your lifetime.

In terms of values, depends on where you live.  Overrall, I would say wait but depends on your market.

In my opinion, we have not seen the bottom yet but there are still advantages to buying "near" the bottom.  More selection.

I found it hard to believe that someone in the RE business would say that as well, it makes me wonder what he's been doing the past 4-5 years, he obviously doesn't have a pulse on anything that happened.

What is it you do exactly in RE, Shrimp?  It must be something that doesn't deal with the mortgage side of the equation because you seem clueless on that part.

???

What now?

Did I say the wrong thing?

What did you want to hear?

just hard to imagine the gall it takes in a thread titled "what can we do to fix this mess of an economy" that a REA would make a silly comment like "mortgages have nothing to do with it". In my book, your credibility goes to zero, and i wish there was an ignore button so i wouldn't have to scroll thru all your posts. mortgages and affordable housing is not only the root of all the problems, but fixing house prices is WHAT WE NEED TO DO TO GET OUT OF THIS MESS

Housing values are a commodity like everything else..  Oil has dropped 300% in the last few months.

There are some market spikes but everything is based on the economy.

The economy, in real simple terms is based on production and GDP.

Yes, there has been a mortgage situation but the real problem is the declining values and throwing millions of auto workers and suppliers out of income situations is not going to help.

Quote Originally Posted by cd329:

whole entire mess we are in?  I mean with all these businesses and banks failing, states and local govts are right around the corner.

How could all these things just be failing at the same time?  Was there no good management in place anywhere.

 

So i really would like to hear some ideas that can be done to save this country before we all are in gun battles with our neighbors over a can of tuna fish.  Please dont post any smart ass comments like its all the unions faults or other silly comments, am being dead serious about this. Personally i dont have a clue as to what can be done to save this country and even the rest of the world.  The only thing that i can think of, is do we have to many people actually living in our country to actually support our country?  I mean we have 300 million people in the country, is that to many for the country to support?

cd

I really believe we are headed towards a major depression that cant be stopped with a massive revolution happening in the country.

The United States will not get out of this credit crisis unless we deal with the fundamental problem with the economy: Mortgages.

Solution: We must both: 1) write down the principal on mortgage notes on both a) principal residence and b) investment property where the note exceeds the fair market value of the property; and 2) modify the above notes in the event that the these "troubled" mortgages are not given a principal reduction.3) eliminate usuary interest rates on credit cards.

The United States is the greatest country in the world and its time to suck up buck up b/c we're all to blame for this mess..  Truth be told we can innovate as a society like no other, do ya really think there is a housing bubble in silicon valley california? I think not..

Come on now question: who is it in society that spends the most of their disposable income, the rich (ya right I think not) the poor? Yes, the middle class? Yup. We are dependent upon having a strong middle class...Happy New Year to us all...

P.S. My comments are genuine..

your comments may be genuine, and even shared by many fellow americans, but they are wrong on so many levels.

The United States will not get out of this credit crisis unless we deal with the fundamental problem with the economy: Mortgages.

It seems like you are trying to get informed, which is  However i would suggest poking around elsewhere for your info. the only way out of the mess is to fix housing/mortgages, and the problem that needs fixin' first is PRICES. they need to fall in line with fundamentals of wages to housing costs. You can't really FIX the mortgages, other than allowing the foreclosures and bankruptcies. As speculated and now proven, no matter what you do to try and help struggling homeowners, if they can't afford their house, they can't afford it and it's time to go.

Solution: We must both: 1) write down the principal on mortgage notes on both a) principal residence and b) investment property where the note exceeds the fair market value of the property; and 2) modify the above notes in the event that the these "troubled" mortgages are not given a principal reduction

Why is it that you feel that we NEED to do this criminal shit? This is the kind of shit that makes responsible folk want to take up arms.

) eliminate usuary interest rates on credit cards.

yea right, allow people to borrow more money on the cheap, that'll really 'fix' things up  i look forward to the innevitable return to usury. that's the ONLY way people of today will learn the lesson that buying today paying tommorow IRRESPONSIBLY will always end up being buy today can't afford to pay tomm.

usury

Dude, time to beam back down to this planet, wan't some coffee and let's talk about the problem: MORTGAGES

But don't take my word for it just pick up a newspaper, check the internet, or discuss it with an economist, they're all saying the same thing..

Re your statement about credit cards above, I happen to agree, maybe the solution is to prohibit the use of credit cards.

We must as a society return to the teachings of Max Weber, as outined in his book "The Protestant Ethic" happy reading..