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(CNN)   Home building hits four-year high. Both homes reported to be ready for occupancy before winter   (money.cnn.com ) divider line
    More: Spiffy, National Association of Home Builders  
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1450 clicks; posted to Main » on 17 Oct 2012 at 2:26 PM (3 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-10-17 03:45:11 PM  

Rapmaster2000: Elroydb:

Not sure what is preventing you from investing in stocks, bonds, money markets, mutual funds, or anything of the sort to take advantage of lower capital gains taxes? Instead of hating on the rich perhaps you should take on habits of the rich and someday get there yourself?

I'm not stupid enough to take this lousy bait. Try your class envy schtick over to USAToday.


Not to mention that a lot of "rich people" who "took on the habits" are now completely broke because they got sucked into a fool's game. Besides, the "rich people" biatch constantly about those evil, exorbitant capital gains taxes that they should above paying. Taxes are for plebeians, dontcha know.
 
2012-10-17 03:46:19 PM  

HenryFnord: Waxing_Chewbacca:
I'll have a small slice of cake... Little bigger. There you go. Thanks.

Good call. The other choice was 'Death'


Jesus... That was close. So... The punch is hemlock?
 
2012-10-17 03:54:48 PM  

Koalacaust: bartink: This is actually great news. Its the missing piece of our economic recovery. If housing gets going again, we are on a roll.

Precisely. If there's one thing that we've learned over the past decade, it's that the best way to create a sustainable recovery during an economic downturn is by inflating a bubble in real estate.


Trolly, but not very good. Prices for existing homes have recovered to some degree, but there certainly isn't another bubble forming. And housing starts have nothing to do with existing home prices. They are two completely different economic indicators for the sector. If you understood this, you'd also understand that the bubble and eventual collapse in the housing sector was due do bad lending practices by banks, not by the housing industry itself. It was just meeting consumer demand.
 
2012-10-17 03:54:55 PM  

dennysgod:
So your blaming Obama for people claiming disability? Did he go door to door with a baseball bat and start breaking legs?


That's the Chicago way
 
2012-10-17 03:59:28 PM  

JackieRabbit: Rapmaster2000: Elroydb:

Not sure what is preventing you from investing in stocks, bonds, money markets, mutual funds, or anything of the sort to take advantage of lower capital gains taxes? Instead of hating on the rich perhaps you should take on habits of the rich and someday get there yourself?

I'm not stupid enough to take this lousy bait. Try your class envy schtick over to USAToday.

Not to mention that a lot of "rich people" who "took on the habits" are now completely broke because they got sucked into a fool's game. Besides, the "rich people" biatch constantly about those evil, exorbitant capital gains taxes that they should above paying. Taxes are for plebeians, dontcha know.


I had people in 2006 that I respected and thought were intelligent, trying to get me into real estate speculation with this condescending meme of "Do you know what leverage is? It's what all the smart, rich people use to get richer."

And leverage can be a way to make money, but only in the right environment. It's not a simple tool. The emotional trap of money turns bright people into easy marks.
 
2012-10-17 04:12:09 PM  
You didn't build that!
 
2012-10-17 04:19:54 PM  
The development where I live have been going like gangbusters in the last 6-8 months. Townhouses are going up like weeds - 1,900 sqft units w/2 car garage, starting in the high $400k's. Homes put on sale in the area end up in the center of bidding wars among buyers, and sometimes are sold within 1-2 days of listing. A development near the local golf course just opened a new phase, 5 bedroom homes starting in the $800k's. Yes, you read that right, almost a million dollars! Who's buying these houses I would like to know.
 
2012-10-17 04:44:51 PM  
Is this just a symptom of trickle down stimulus or actual growth?
 
2012-10-17 04:51:45 PM  

JackieRabbit: BAMFinator: Looks like I sold and bought a house at a good time. Got a steal on it.

Right you are. The last few years have been good for those who were in a good position to buy. Two years ago, I bought for $200K, a foreclosure that had a $379K principle balance when the action was taken. The house isn't worth $379K, but it is worth $260K using current valuation.


Right you are. we kept our old house to rent out and bought a house we really loved at a great bargain. We plan on sticking around this place for a long time.
 
2012-10-17 07:55:40 PM  

Elroydb: seadoo2006: Rapmaster2000: seadoo2006:

Prospects are up, sales are up, closings are up ... Our company has hired 8 new people (for a total of 25 employees now) in the last 6 months to keep up with accelerating demand.

Totally false. Everyone knows excess money supply creates jobs and not demand. Let me put it this way. You have a business that makes $1M a year and you have two employees. Now, if I give you more money then you're going to hire more employees because you have more money.

It's what scholarly economists at the American Enterprise Institute call Job Creator Economics. That's how you create jobs. I want to create jobs and get this country moving forward again.

Yep, it's the GOP fantasy about how hiring actually works. I can guarantee you that no tax increase or decrease ever dictates on how many people we employ. Demand and workload are the ONLY two factors we use to determine our staffing.

FWIW, I'm part-owner of this company, so does that make me one of the "job-creators" Romney & Co. keep babbling on about? Because, if so, can someone please tell him to STFU about us "job-creators" and to sit the fark back down.

I take it you don't handle any of payroll, local, state, or quarterly federal tax filings do you?


Actually, I do ... and it's a large reason on why we are a 100% profit-sharing company. Rather than pay corporate taxes on our profits, we pay it all out in payroll at the end of the year. Do our employees pay a little more on their payroll taxes because of this? Sure, but when you hand someone a check for $50,000, I don't think they care that the check really is for $38,000 ... at the end of the day, they get $38k for a Christmas bonus.

We also take company vacations (paid entirely by our company). This year, we're going to an all-inclusive resort in Cancun for 7 days. Last year we went on a 7-day cruise of the Caribbean. The year before that we did a 10-day trip to Puerto Rico. See, as a business expense, it's not taxed, further reducing our liabilities.

The funniest part though is you actually think we make decisions to hire based on taxes. You are sorely mistaken. We hire when we need a blow off valve for our workloads. If we're too busy and we start working 50-60 hour weeks, we hire to reduce what we need to do. Taxes aren't even a passing thought. The productivity of any new hire directly increases or decreases our bottom line, not taxes.
 
2012-10-17 09:29:14 PM  

SuperT: I'm buying a house built in 1888. You couldn't get me to buy a house built in the last 20 years.


Are you getting those newfangled electric candles and indoor plumbing?
 
2012-10-18 12:52:41 AM  

Elroydb:
Not sure what is preventing you from investing in stocks, bonds, money markets, mutual funds, or anything of the sort to take advantage of lower capital gains taxes? Instead of hating on the rich perhaps you should take on habits of the rich and someday get there yourself?


Maybe it's because us regular folks out here in amurrica believe that if you're going to get rich, you should do it through work. You work hard, you get rich, all is well. That's why you don't hear griping about Bill Gates, or Richard Branson or any one of the millionaires and billionaires that made their moolah by working for it.

Mitt Rmoney on the other hand... well... let's just say that people like him who were born rich (his father worked for his money, Mitt just popped out of the right pussy) are not as highly regarded. If someone hands you a chunk of cash, and you "invest" it (with help from your wall street buddies), and "make" even more money from it, what is to be admired about that? You sat on your ass and did... NOTHING. Absofarkinglutely NOTHING.

"Buh-buh-but they took RISKS!!!" Please... they didn't risk anything they couldn't stand to lose, like any good gambler. There's a difference between the ditch-digger who owns his own construction company 40 years later, and the rich bastard who wastes the very air they breathe profiting from the mutual funds daddy gave them while sitting on their yacht all day doing nothing.
 
2012-10-18 05:20:35 AM  

flynn80: Is this just a symptom of trickle down stimulus or actual growth?


This wouldn't qualify as "trickle-down" in my eyes, mainly because the "evil Fed" is buying up these mortage-backed securities to help drive costs for homeowners down.

They need to take a step further and prevent people from buying and flipping these houses. That won't drive any real economic growth, they'll lead to another housing bubble.
 
2012-10-18 09:21:47 AM  

efgeise: flynn80: Is this just a symptom of trickle down stimulus or actual growth?

This wouldn't qualify as "trickle-down" in my eyes, mainly because the "evil Fed" is buying up these mortage-backed securities to help drive costs for homeowners down.

They need to take a step further and prevent people from buying and flipping these houses. That won't drive any real economic growth, they'll lead to another housing bubble.


I don't know how though ... we're getting slammed with low comps on our mortgage appraisals. Hell, some of them have come back lower than what we can build homes for - AT OUR COST. So, I think as long as mortgage appraisers are kept with their hands to the fire, runaway home values can be stopped. Unfortunately, this does not prevent cash sale bubbling, but that wouldn't affect the banks as much anyways.
 
2012-10-18 09:47:38 AM  

seadoo2006: efgeise: flynn80: Is this just a symptom of trickle down stimulus or actual growth?

This wouldn't qualify as "trickle-down" in my eyes, mainly because the "evil Fed" is buying up these mortage-backed securities to help drive costs for homeowners down.

They need to take a step further and prevent people from buying and flipping these houses. That won't drive any real economic growth, they'll lead to another housing bubble.

I don't know how though ... we're getting slammed with low comps on our mortgage appraisals. Hell, some of them have come back lower than what we can build homes for - AT OUR COST. So, I think as long as mortgage appraisers are kept with their hands to the fire, runaway home values can be stopped. Unfortunately, this does not prevent cash sale bubbling, but that wouldn't affect the banks as much anyways.


Unfortunately there are some people who like nothing more than for the madness of the mid 200's to return. They see that period as a time of economic growth (with housing as it's lynchpin) rather than the recipe for disaster we now know it is. When the greed kicks in, mortgage appraisers will not have their "hands to the fire", they will have those hands out just like they did last time, getting paid to push values ever higher.

Add to that the chunk of the population who stupidly bought houses in that mid 00s time frame thinking "real estate will never go down" and who would give anything to see prices return to where they were back then and beyond, and we have the makings of a second potential financial tsunami.

Morons don't learn. Ever. That's why they're morons
 
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