Fed is expected to raise rates another .75-1.25%

[cdog]

I'd bet they will over correct just as they allways do. Look to the UK and Austraila as an example. They were smart and raised the rates in 2003 when we should have started. Greenspan and team have a history of over correcting.
ALSO! There is alot of buzz about change's to the tax code and to get rid of the Real Estate deduction. I don't see how they can do this but they sure are talking about it alot lately. Imagine! Scary!!!!!!!!!

[Sleek-Jet]

ALSO! There is alot of buzz about change's to the tax code and to get rid of the Real Estate deduction. I don't see how they can do this but they sure are talking about it alot lately. Imagine! Scary!!!!!!!!!
The Dems see the real-estate deduction as a subsidy for rich people that have more than one house. They don't see why the federal gov't should be paying people to buy houses. Nice logic. :rolleyes:

[slotracer]

was in the bank yesterday redoing my eq. line. wells fargo thinks at least 1/2 to 1 percent by end of year. also greenspan is going to retire so who knows after that.
pat(slotracer) :mix:

[cdog]

The Dems see the real-estate deduction as a subsidy for rich people that have more than one house. They don't see why the federal gov't should be paying people to buy houses. Nice logic. :rolleyes:
Every middle class millionaire I know has made atleast half if not three quaters of their cash from investment real estate. Some people have the wrong take on it. Rental property is not to make monthly money on but has have more value in the deduction. Take that away and watch the mass exodus of rental property. I'd say if this actually happened, prepare for socialism next. There will very few paths to wealth in america at that point. In my humble opinion of course.

[Jyruiz]

prepare for socialism next.
I have been living in a socialist state for the past 28 years.

[2Driver]

What's a Mortgage? :rollside:
I bet they are going to do something that will effect real estate. Is is a fairly untapped tax resourse right now and it could use some cooling off (as they see it).
I am betting a reverse in part of the tax free cap gains or the deduction on mortgages. We have a big huge debt folks and this is a big cookie jar for the fed. :mad:

[Kachina26]

I'm soo glad I locked everything in when I did. I just hope I sell my house for what I want in 6 months.

[tamalewagon]

I'd bet they will over correct just as they allways do. Look to the UK and Austraila as an example. They were smart and raised the rates in 2003 when we should have started. Greenspan and team have a history of over correcting.
ALSO! There is alot of buzz about change's to the tax code and to get rid of the Real Estate deduction. I don't see how they can do this but they sure are talking about it alot lately. Imagine! Scary!!!!!!!!!
It is a scary thought Cdog...but remember they will have a pretty difficult time passing that through the majority Republican senate. Should be an interesting argument. I can't see this passing and the mainline senators responsible for the motion will be VERY unpopular. Democrats and Republicans alike benefit from the current tax deductions, taking this away will put a huge dent in Mr. and Mrs. Regular Joe's tax returns and tremendously damage the mortgage industry.

[Freak]

I'd bet they will over correct just as they allways do. Look to the UK and Austraila as an example. They were smart and raised the rates in 2003 when we should have started. Greenspan and team have a history of over correcting.
ALSO! There is alot of buzz about change's to the tax code and to get rid of the Real Estate deduction. I don't see how they can do this but they sure are talking about it alot lately. Imagine! Scary!!!!!!!!!
I may be nutz but I fell the whole world is about to come on to hard times. Have you ever heard the saying "if the US sneezes the whole world catches a cold." Well the US is about to sneeze.
$88 billion in debt may become junk. http://www.chron.com/cs/CDA/ssistory.mpl/business/3387898
I have been reading more and more about the housing market cooling --NY and VA etc. More homes on the market and people lowering asking price.
The mortgage deduction is nothing more than a subsidy for the banking, real estate, construction, appliance making and home furnishing industries. What do most do with the money? Go out and buy some shit....
The year before a congressional election, I think it has absolutely zero chance of happening unless the crisis goes really bad.
Removing this subsidy for homeowners would be very unpopular and in the short term would depress housing prices.
It was a nice program while it lasted, but unless government is going to cut spending then they need to find the tax revenue somewhere...........

[Boa1277]

I think the bubble is going to burst, just like it did with the Tech Stock bonanza, I would lock in and get rid of what you dont need, while you still can lets see where housing prices are a year from now my guess 25% to 40% less than they are today. Just my guess.

[tamalewagon]

I think the bubble is going to burst, just like it did with the Tech Stock bonanza, I would lock in and get rid of what you dont need, while you still can lets see where housing prices are a year from now my guess 25% to 40% less than they are today. Just my guess.
There aren't any particular "bubbles". Each city has it's own individual market that reacts with their own economy. We are likely to see a large slow down, perhaps even a slight decline, but the 20-40% drop in pricing you fear isn't likely.

[cdog]

I may be nutz but I fell the whole world is about to come on to hard times. Have you ever heard the saying "if the US sneezes the whole world catches a cold." Well the US is about to sneeze.
$88 billion in debt may become junk. http://www.chron.com/cs/CDA/ssistory.mpl/business/3387898
I have been reading more and more about the housing market cooling --NY and VA etc. More homes on the market and people lowering asking price.
The mortgage deduction is nothing more than a subsidy for the banking, real estate, construction, appliance making and home furnishing industries. What do most do with the money? Go out and buy some shit....
The year before a congressional election, I think it has absolutely zero chance of happening unless the crisis goes really bad.
Removing this subsidy for homeowners would be very unpopular and in the short term would depress housing prices.
It was a nice program while it lasted, but unless government is going to cut spending then they need to find the tax revenue somewhere...........
The whole point to land rights is ownership. When you're invested, you owe something to someone or in most case's have a reason to be part of the system to contribute. If they were to take away the deduction of intrest and tax's. Well that would dicourage ownership. Not to mention most of us here would be paying 45% tax on 20-30K a year that they currently utilize in write offs. They probably will change the deductible status of 2nd's on homes. I think that one's a given. I mention this stuff because everyone here most likely has something to loose if something stuid like this ever happend. But it's been under alot of disscussion lately. They have been talking about converting it to a standard deduction. Who know's how much that'll be?

[essexjet]

OFF TOPIC: But got a call today from our rep. saying that the conforming amount was just raised to $399,500 today.

[Deano]

OFF TOPIC: But got a call today from our rep. saying that the conforming amount was just raised to $399,500 today.
thats nice if your putting 400+ grand down. The only time that shit worked for me was my first house.

[HM]

There has been a lot of talk for a long time.
Tax codes and interest rates only affect the amateurs.
If they change the tax code, people will just incoporate or LLC more (they should do it anyway!!!). Everything is a write off in a business, and you reduce or eliminate personal liability if structure correctly. over 60% of corporations and LLCs paid $0 in income tax in 2004. The other 40% need better tax planners. The lenders will just move more products over to commercial lending if needed.
Real estate goes up and it goes down, but it always goes up. Very simple reason...they stopped making real estate thousands of years ago and the population keeps growing. Basic law of supply and demand. Fixed supply and forever growing demand. Tax codes and interest rates only temporarily change the strategies.
What is funny, is that the liberals have no idea that by changing the tax codes trying to phish money from the wealthy, they will only hurt the middle class and poor who they claim they are there to protect. By changing the tax codes on real estate, it would scare away people with less money as the wealthy already know what to do. Since real estate is the number one industry of producing wealth, they would exclude the poor and middle class from investing in real estate, and thus their efforts would widen the gap and help the rich get richer and the poor get poorer. I thought the liberal democrats were trying to stop that? :confused:

[cdog]

What is funny, is that the liberals have no idea that by changing the tax codes trying to phish money from the wealthy, they will only hurt the middle class and poor who they claim they are there to protect. By changing the tax codes on real estate, it would scare away people with less money as the wealthy already know what to do. Since real estate is the number one industry of producing wealth, they would exclude the poor and middle class from investing in real estate, and thus their efforts would widen the gap and help the rich get richer and the poor get poorer. I thought the liberal democrats were trying to stop that? :confused:
Actually . That is their objective. Pull out one hair at a time untill we're bald. Look at Cantaforday! The libs that are on top don't want you or I to be up there with them. They want us to keep buying into their bullshit and support all their social programs that they get rich off of. Their politics are more socialist than democratic. We will eventually loose control to them because we continue to over populate our country with poor, needy, unskilled, goverment and social program dependent people that will vote to get their free piece of cheese.
But meanwhile back at the ranch......................

[HM]

Actually . That is their objective. Pull out one hair at a time untill we're bald. Look at Cantaforday! The libs that are on top don't want you or I to be up there with them. They want us to keep buying into their bullshit and support all their social programs that they get rich off of. Their politics are more socialist than democratic. We will eventually loose control to them because we continue to over populate our country with poor, needy, unskilled, goverment and social program dependent people that will vote to get their free piece of cheese.
But meanwhile back at the ranch......................
I agree...but California is getting less from me, not more. But, I have ultimately increased their tax base through the people I pay. But they will ignore that I have raised their tax base significantly on a net basis, and they will be too pissed off that I did not pay my "Fair" share, and want to make it so I have to pay more...and with every law, they do just the opposite...make making money more and more exclusive to the wealthy. See, the libs are smart academically and philosophically, but they are stupid with reality and money. History speaks for itself. The U.S. continues to shift left, and the gaps get bigger. But hey, it is the thought that counts, right?