Goodbye Housing Bubble

Photos are of Mortgage lenders that are bankrupt or gone.

Commentary at the end of video is from Peter Schiff at www.europac.net He said all that ~6 months before the "Mortgage meltdown"

Beginning song: Josh Groban-Remember When it Rained

Last song: Tears for Fears-Break it Down Again

Category:

News & Politics

Tags:

• Housing
• Bubble
• real
• estate
• subprime
• foreclosure

[cratesors]

who sings and whats the name of the song?

I want to download it... i like it.

[john67elco]

Beginning song: Josh Groban-Remember When it Rained

Last song: Tears for Fears-Break it Down Again

[nyuhwm]

deepgreen financial, just there name was reason enough they should go bankrupt

[john67elco]

lmao

[ChiefHumpingDog]

INDYMAC BANK IS NEXT. MARK MY WORDS.

[StiggyStigStig2007]

Is it wrong that I laugh so hard at people who've lost - idiots

[ritajellis]

:-)

[gumpydoood]

Who didn't see the housing bubble coming? After the dotcom bust and with housing prices soaring, you have to wonder why people didn't see it. It was fucking obvious the crash was coming. . .it was just a question of when. Even Bush knew it would not last. . .he was warned by Eliot Spitzer & Dean Baker, amongst many, but failed to act. Bush was hoping the house of cards would fall under someone elses watch & was caught with his pants down & his bare ass showing.

[tickyul]

When greedy, materialistic Americans wake up on Jan 2, 2006 groggy,sick and bloated from an orgiastic spending binge they will have a lot to worry about. Major economic indicators are pointing toward a real messy time for the greedy ole USA. At the top of the list in the near term is a MAJOR correction in the housing market, this will have a ripple effect in many american sectors. So go ahead refinance your house so you can pull the equity out of it and buy your stoopid kids Bratz wigger dolls.

[tickyul]

@damnright4: Uh, Big brother put an artificial bottom in the housing market. Pumped bllions of liquidity into the market when they bought 1 trillion in mortgage backed securities. Also heated up demand/buying with their tax credit giveaway for home speculators...oh I mean buyers. Bidding wars are happening again due to government meddling. Banks are flush with cash from big brother so they can sit on their inventory. The housing market never hit a real bottom, this will hurt in the long run.

[damnright4]

House prices still SUCK....Still way overpriced...The sooner house prices come back down to earth ..the sooner we can have a real meaningful recovery...

[frankpaws]

Well at least there is one smart person in the room. Now if all the smart people would come out of the wood work, like Schiff, then we might actually get out of this.

But, since we have idiots in office and Bernake making stupid statements like "we are at the end of the recession", we have only seen the tip of the worse that is to come.

Start preparing, start saving and stop using credit. When it hits, it will be a free fall.

[digme1]

seriously, after reading most of the comments, who really here thinks that obama is going to solve this problem? hmm, I am amazed that the same people that made this mess still are the brains that will lead us out of this... case in point, Geithner and Summers. Geithner is currently the NY Fed Reserver president. For those that have been kept in the dark, the Federal Reserve IS NOT NOT NOT a Government institution. It's controlled yep by the banks that got bailed out.a lie, research it yourself!

[digme1]

creator01, i think wanz has a point. There was a serious error made by Clinton (which I don't blame him because he's a lawyer and not economist) to repeal the Glass-Steagal Act. That, by itself made cash available to everybody. I can't explain it here because it would take more than 200 words. Guess who was the Treasury at that time, yep: the now economic advisor to Obama: Lawrence Summers and Rubin. Yep, Rubin just got bailed out with Taxpayer money for CitiGroup and Summers, wellback to "help"

[voicefromthegrave]

This is what happens when you let your greedy wife convince you buy a huge house, granite countertops, SUVs, and extravagant vacations. Now when you lose your job and she divorces you, you end up living in a tent, and she keeps the house. The government will make sure the mortgage only costs 30% of her income, no matter how much it costs taxpayers. That's fair isn't it?

I say we put the blame where blame is due: on the idiot spoiled women western society has given in to for far too long.

[sshapewa]

i advised my mom not to send me to a private school,not to buy a car on credit,which handed in yesterday,not to buy a house on credit,BUUT NOOOO OH GOD WILL SEE EVERYTHING THROUGH,BLABALAAla.Now we know how stupid parents are,they are a bunch of loosers!!i advised her years back to save up.work today for tommorows goodies.not vie versa!!!