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TX Homebuilder
Dyn-o-mite!


Joined: 09 Feb 2009
Posts: 276
Location: Houston Metro

Welcome Back My Friends to The Show That Never Ends
PostPosted: Tue Aug 02, 2011 7:24 pm Reply with quoteBack to top

It seems the newest reality show..."Debt Limit Debacle-Washington" has captured an unprecedented number of spectators. Many spectators stated the acting was so real they actually believed all they saw was true. No doubt Harry Reid will win best actor while Boehner will win best supporting actor.

So, you ask, what effect will this have on housing?

First, the US Treasury Bond ratings will still be lowered. Bond ratings are based on risk. The US debt vs GDP is still way out of whack.

Second, most financial Gurus say interest rates are about to head up, possibly quickly. So if I currently have a $150K mortgage at 4.5% and want to buy a new home with a $220K mortgage at 9.5%...not gonna do it.

Third, I purposely saved this for last; following the Senates approval of the Debt Increase earlier today Obama started talking about major tax reform. But wait, didn't the Republicans just spend weeks rejecting every proposal that called for tax increases? Yes they did. And they went on to brag about their victory. One of the Tax Reforms the President is pushing for is the end of the "home mortgage interest" deduction.

So folks, how did you like the show?
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GradyW
Dud?


Joined: 31 Aug 2011
Posts: 5

Re: Welcome Back My Friends to The Show That Never Ends
PostPosted: Wed Aug 31, 2011 4:55 pm Reply with quoteBack to top

I really hope that they don't get rid of the home mortgage interest deduction anytime soon. Our economy really doesn't need any more stress or damaging economic news. Also didn't the Fed say that they were going to hold the interest rate at it's current rate for a while?

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TX builder
Dud?


Joined: 10 Jun 2009
Posts: 2

Re: Welcome Back My Friends to The Show That Never Ends
PostPosted: Wed May 01, 2013 3:33 pm Reply with quoteBack to top

I wouldn't put anything past this congress and certainly not this administration. I won't begin to trust them until they are subject to the same Obama-care that they, by law, made us subject to.

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houston
Nitroglycerin


Joined: 02 Dec 2008
Posts: 661
Location: Houston, Texas

Re: Welcome Back My Friends to The Show That Never Ends
PostPosted: Wed May 01, 2013 3:36 pm Reply with quoteBack to top

I also note that congress is now pressuring banks to make it easier for low income families to buy a home. Where have I heard that before??? Twisted Evil or Snarky

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