and apparently, HUD is coming out with a program that you only need to put down $100 in order to purchase a home that is a HUD-owned REO and in addition to $100 down instead of FHA’s typical 3.5 percent down payment, HUD says it will also cover up to 3 percent of the closing costs in most cases. The HUD program is only in 28 states though, both NC and WI being included.
The Fed will likely purchase MBS in order to pump money into the banks buying overpaying for the MBS as well as drive down mortgage rates by compressing the spread between bonds and mortgages, Obama is coming out with his new refi program which removes the cap on how far underwater a home can be in order to refi
Our rulers must be getting pretty nervous about the housing situation. 60% of mortgage holders have less than 10% equity so they need to desperately make sure housing doesn't fall further. And housing didn't pick up but was only stopped from falling further as mortgage rates fell over the past few months, butthe last few weeks, rates have began to rise again.
The malinvestments caused by mis-pricing money (0% rates + QE + gov't backing 95% mortgages) are now so great that the economy is not able to keep up and continuously greater amounts of QE must be pumped in to keep the malinvestments from becoming exposed. Bottom line, either QE stops and depositors are allowed to lose their money, leaving physical cash to maintain some purchasing power, or QE is continually increased until hyperinflation meaning all dollar holders lose all purchasing power.
@tuumz I do study the economy, I don't know if that makes me an economist. Basically, I think the Fed is about to print a ton of money and will causing silver to explode and I just started working on a website, thesilverjournal, to explain the rise of silver. US revenue = $2.2T, spending = $3.6T, deficit = $15T, promises = $100T. Drop some zeroes and you get income of $22,000, spending of $36,000, on adjustable rate credit card balance of $150,000 and the real kicker of promises of $1,000,000.
@thesilverjournal hhhm ok, interesting.if you were the head of the FED, What would you do? or is the recovery beyond the fed's control / intervention measures?
@tuumz If my goal is to keep the game going as long as possible, I continue with bailouts and printing, but that will only work until hyperinflation. If my goal was to actually help America, I would stop printing, let rates float, let depositors lose their money, default on the national debt and fire most of the federal government. It would be painful at first but we would then see a boom in productivity because there would be market allocation of resources instead of allocation by central plan
@tuumz Either way it will be painful. The question is do we want less pain now by making the transition on our own terms, or more pain later with hyperinflation which is completely economically devastating?
@tuumz@tuumz This stuff is finally hitting the MSM, no joke. Check out this clip from 2:00-3:20, Cramer, the cheerleader for the markets, lays out the pickle the world is in. Either Italy is allowed to fail and the world's banking system stops, or Italy is bailed out and the world's printing press are kicked into high gear. youtube(dot)com/watch?v=Z9V19CUm8SE&feature=player_embedded
thumbs up Pat you hit it on the head.
esantiago340 4 months ago
The $100 down HUD program will also loan money for repairs.
thesilverjournal 4 months ago
and apparently, HUD is coming out with a program that you only need to put down $100 in order to purchase a home that is a HUD-owned REO and in addition to $100 down instead of FHA’s typical 3.5 percent down payment, HUD says it will also cover up to 3 percent of the closing costs in most cases. The HUD program is only in 28 states though, both NC and WI being included.
thesilverjournal 4 months ago
The Fed will likely purchase MBS in order to pump money into the banks buying overpaying for the MBS as well as drive down mortgage rates by compressing the spread between bonds and mortgages, Obama is coming out with his new refi program which removes the cap on how far underwater a home can be in order to refi
thesilverjournal 4 months ago
Our rulers must be getting pretty nervous about the housing situation. 60% of mortgage holders have less than 10% equity so they need to desperately make sure housing doesn't fall further. And housing didn't pick up but was only stopped from falling further as mortgage rates fell over the past few months, butthe last few weeks, rates have began to rise again.
thesilverjournal 4 months ago
The malinvestments caused by mis-pricing money (0% rates + QE + gov't backing 95% mortgages) are now so great that the economy is not able to keep up and continuously greater amounts of QE must be pumped in to keep the malinvestments from becoming exposed. Bottom line, either QE stops and depositors are allowed to lose their money, leaving physical cash to maintain some purchasing power, or QE is continually increased until hyperinflation meaning all dollar holders lose all purchasing power.
thesilverjournal 4 months ago
@thesilverjournal r u an economist with all these terms?
tuumz 4 months ago
@tuumz I do study the economy, I don't know if that makes me an economist. Basically, I think the Fed is about to print a ton of money and will causing silver to explode and I just started working on a website, thesilverjournal, to explain the rise of silver. US revenue = $2.2T, spending = $3.6T, deficit = $15T, promises = $100T. Drop some zeroes and you get income of $22,000, spending of $36,000, on adjustable rate credit card balance of $150,000 and the real kicker of promises of $1,000,000.
thesilverjournal 4 months ago
@thesilverjournal hhhm ok, interesting.if you were the head of the FED, What would you do? or is the recovery beyond the fed's control / intervention measures?
tuumz 4 months ago
@tuumz If my goal is to keep the game going as long as possible, I continue with bailouts and printing, but that will only work until hyperinflation. If my goal was to actually help America, I would stop printing, let rates float, let depositors lose their money, default on the national debt and fire most of the federal government. It would be painful at first but we would then see a boom in productivity because there would be market allocation of resources instead of allocation by central plan
thesilverjournal 4 months ago
@tuumz Either way it will be painful. The question is do we want less pain now by making the transition on our own terms, or more pain later with hyperinflation which is completely economically devastating?
thesilverjournal 4 months ago
@tuumz @tuumz This stuff is finally hitting the MSM, no joke. Check out this clip from 2:00-3:20, Cramer, the cheerleader for the markets, lays out the pickle the world is in. Either Italy is allowed to fail and the world's banking system stops, or Italy is bailed out and the world's printing press are kicked into high gear. youtube(dot)com/watch?v=Z9V19CUm8SE&feature=player_embedded
thesilverjournal 4 months ago