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Old 07-30-2008, 09:55 PM   #41
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Ah, Comrade Brewer. Soon I look forward to singing the Internationale and other good Republican songs with you and Comrade President Bush. Maybe Comrade Secretary Paulson will join us too.

There are many more taxpayer-funded bailouts on the way. The "Party" is just beginning nyet?

As they say in Washington, "From each according to his abilities, to each according to his needs".
Consult with only myself as your adviser or representative. My thoughts should be construed as investment advice of the highest caliber. Past performance is but a pale shadow and guarantee of even greater results in the future.
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Old 07-30-2008, 11:51 PM   #42
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Another thing in the housing bill is a change to the CG exclusion, so if you were planning on using that in the future, you should investigate and plan accordingly:
Calculated Risk: Housing Bill: Change to Home Sale Tax Exclusion Rule

Instead of the old "2/5 years" it's now a ratio of qualified/unqualified use (going forward from 1/2009 so it won't start affecting people for another couple of years, it seems).
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Old 07-31-2008, 06:04 AM   #43
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Originally Posted by laurencewill View Post
I suspect they'll get more people to pay back than you might imagine. Not everybody is savvy like that - unless of course we start seeing commercials on t.v. in 5 years, "Unlock your profits - you've earned it!".
Laurence I really really hope you are right and I am wrong, but....

Given the current situation, where people buy a 2nd home/refi before mailing the keys to the bank, delay foreclosure as long as possible, and steal everything in the house before turning the house over for forclosure, I think the chances of most people acting ethically and giving Uncle Sam the profit we deserve for bailing the out is pretty slim.

I think the chance of lender especially mortgage brokers not aggressively marketing a way of saving tens of thousands on taxes by taking advantage of our special refi before you sell program is nil.
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Old 08-09-2008, 08:07 PM   #44
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Originally Posted by cute fuzzy bunny View Post
Its a matter of people who took out a loan and couldnt make the payments.

Once again we're taught the lesson regarding the difference between correlation and causation.
I never said race was a cause. I simply put out some facts to imply this about votes, not to help anyone. Its why the Democratic party is so ghung-ho to bail them out... they are their constituents. Not because they are black or another minority, but because they vote primarily Democrat.

Its not much different than the Republicans giving mid-western farmers ethanol subsidies or turning a blind eye towards enforcement against businesses who hire illegals. Follow the money and it almost always has to do with politicians trying to stay in power - not about "helping" people.

What I don't understand is how anyone can make the largest purchase of their life and not do their homework about what they are getting into. Self-imposed ignorance knows no racial bounderies.
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Old 08-09-2008, 08:18 PM   #45
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Did I say anything about race?!?
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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