Lenders cut off the home-equity tap - Page 2 - Mercedes-Benz Forum

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post #11 of 48 (permalink) Old 02-26-2008, 06:59 AM Thread Starter
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OK.....I'll bite, please explain how the oil companies have forced the banks to offer unrealistic credit facilities to people who could not or did not want to read the fine print and applied for loans thaty they had no way of repaying thus causing the home foreclosures and people walking way from their homes at huge numbers. The full impact fo inflation due to oil prices has not even hit yet, the full effect of that should rear it's ugly head later this year.............
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post #12 of 48 (permalink) Old 02-26-2008, 09:40 AM
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January foreclosures up 57%

Filings saw yet another big jump last month, compared to levels a year ago; 45,327 homes were lost to bank repossessions.

NEW YORK (CNNMoney.com) -- If there's one thing to count on these days, it's that every month the foreclosure crisis will get worse.
.............
That is so much CNN drive-by BS I hate to even waist my time commenting, but first of all you only highlight their most outragous and mostly inaccurate statements, and second as prices go down (aka "a GOOD thing") sales are going up; and we are headed into the busiest home selling season of the year.

Instead of starting these dumb threads you might want to look at this one: http://www.benzworld.org/forums/off-...ml#post2759686

Don't believe everything you think
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post #13 of 48 (permalink) Old 02-26-2008, 09:42 AM
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The root cause of all this is GREEDY OIL COMPANIES! The trickle down effect!
Now that's a stretch... Would you care to explain how that is?

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post #14 of 48 (permalink) Old 02-27-2008, 04:52 AM
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Ok. Its the greedy oil companies AND greedy banks. The banks see the oil companies gouging the hell out of us,and getting away with it, so they figure they can too! So I guess its the Govt. who is at fault for not putting an end to all this price gouging ! You guys have the time to "micro dissect" the effects and get lost in the mass of confusion of the "trickle down effect"..........similar to how the Govt. does it, and then does nothing about it except keep the confusing mass of red tape rolling along.

Now, I'm no economist, as you can tell. but I try to keep it simple so I dont get lost in all the distractions of the results of the' trickle down effect' ,so I can keep focused on the root of the problem. Thats just how I see things.
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post #15 of 48 (permalink) Old 02-27-2008, 07:52 AM Thread Starter
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That is so much CNN drive-by BS I hate to even waist my time commenting, but first of all you only highlight their most outragous and mostly inaccurate statements, and second as prices go down (aka "a GOOD thing") sales are going up; and we are headed into the busiest home selling season of the year.

Instead of starting these dumb threads you might want to look at this one: http://www.benzworld.org/forums/off-...ml#post2759686

PLease old wide one please tell us your secret of seeing in to the future, tell us your secret of how you do it....................











For the rest of those living in the real world, take note that the general consus in all that I have read is that the housing market is still in the shit due to the credit market still being in the shit and guess what, the lenders have decided that they are not making that access to easy money so easy anymore. Now with Merrill saing this next passage below why would anyone really consider blowing their load this year when they could possibly get a 5 or even 10% discount on the same or a comparable house next year? And just remember the ole so wide Jay just bought 5 houses as per another thread where he stated so, again why would you buy at the first of the year when you could save another 20 to 25% by the end of the year, oh well a fool and his money is.................

Merrill Lynch, for example, is forecasting home prices will fall by 15% in 2008 and another 10% in 2009. That will likely continue to fuel high foreclosure rates.

Last edited by Jakarta Expat; 02-27-2008 at 08:03 AM.
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post #16 of 48 (permalink) Old 02-27-2008, 09:27 AM
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PLease old wide one please tell us your secret of seeing in to the future, tell us your secret of how you do it....................
.........
You've asked that stupid question more than once and I've answered it more than once--and I have no intention of doing so again. I know you don't think much about what I have to say on any topic, but I would suggest that you begin to read my answers--and not just rehash your old questions--in the future... You do know how to read, don't you?

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post #17 of 48 (permalink) Old 02-27-2008, 09:47 AM Thread Starter
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You've asked that stupid question more than once and I've answered it more than once--and I have no intention of doing so again. I know you don't think much about what I have to say on any topic, but I would suggest that you begin to read my answers--and not just rehash your old questions--in the future... You do know how to read, don't you?

Well actually Jay, last time I said "wise" one but someone in a PM pointed out to me how full of shit you are about the current economy and how it should be wide one.

But if you feel you are so wise and foretelling then please tell us all here how as you stated that the highlighted statements in the above article are outrageous and inaccurate and please facts only not the bird speculation wearing rose colored glasses about the economy.
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post #18 of 48 (permalink) Old 02-27-2008, 10:26 AM Thread Starter
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Bernanke: Growth, inflation concerns

Fed chief acknowledges troubling signs about economic growth but also issues sharp warning about inflation.

WASHINGTON (CNNMoney.com) -- The economy faces the prospect of slower growth, but increasing concerns over inflation could complicate the Federal Reserve's efforts to stimulate the economy, Fed Chairman Ben Bernanke told lawmakers Wednesday.

The central bank chief, in testimony before the House Financial Services Committee, said that the housing sector and jobs market could deteriorate further. He also warned that lending could be squeezed by tighter credit conditions.

"[I]t is important to recognize that downside risks to growth remain," Bernanke said. The Fed "will act in a timely manner as needed to support growth."

The markets turned higher Wednesday on Bernanke's testimony, as investors read signals that the Fed was prepared to continue cutting rates if necessary to stimulate the economy.

In fact, the growing consensus is that the Fed will cut interest rates by another half a percentage point when policymakers meet again on March 18.

At the same time, Bernanke warned that the recent increases in the price of energy and key commodities, as well as a weaker dollar, remain an inflationary risk and could further erode consumer spending.

"Should high rates of overall inflation persist, the possibility also exists that inflation expectations could become less well anchored," he said. The Fed will continue to monitor inflation closely in the months ahead, he added.

Bernanke, while issuing a warning about inflation, made clear that the economy faces significant drags - particularly the housing market.

"Homebuilders, still faced with abnormally high inventories of unsold homes, are likely to cut the pace of their building activity further, which will subtract from overall growth and reduce employment in residential construction and closely related industries," Bernanke said.

To help keep the economy from tipping into a recession, the Fed has steadily cut the federal funds rate, which affects a variety of consumer loans, since September. It slashed interest rates twice by 1.25 percentage points in just under a week last month.

Bernanke's remarks come amid recent warning signs about the economy.

A survey on residential real estate released Tuesday revealed that the decline in home prices picked up at the end of 2007. And consumer confidence fell to its lowest level in five years, the New York-based Conference Board reported, on fears about the job market and slowing business activity.

Less than two weeks ago, Bernanke and Treasury Secretary Henry Paulson warned lawmakers of slower economic growth in the coming year but said they believed the U.S. economy would avoid tipping into a recession, helped in part by the $170 billion economic stimulus package signed by President Bush on Feb. 13 and the most recent interest rate cuts by the Federal Reserve.

Bernanke sees growth, inflation concerns - Feb. 27, 2008
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post #19 of 48 (permalink) Old 02-27-2008, 10:36 AM
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The Dow has soared more than 450 points over the past four trading days -- a significant move considering the current worries about the economy. If we are in so much trouble, why aren't we worried?

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post #20 of 48 (permalink) Old 02-27-2008, 11:15 AM Thread Starter
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^^^^Mainly because the market has been anticipating this Bernanke grilling and his saying there would be more rate cuts. If all is so rosy, why is Gold and Silver on a fucking run in the last few days and silver has been on one that it has not seen since Nelson & Herbert...............


As usual when asked straight foward questions for your statements we always come up empty handed.............

Last edited by Jakarta Expat; 02-27-2008 at 11:21 AM.
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