Fraud
Booms with Mortgage Market,
Edward Iwata, USA Today
The powers that be have been using real estate to support the legal tender fiat paper money system for quite some time. We found all of the above articles to be pretty interesting. I suppose Fannie Mae is not exposed to any hurricane losses, but I cannot fathom that Fannie didn't have any MBS's in Texas, Louisiana, Mississippi, and Alabama. I expect Fannie will probably take a big hit in the Deep South as well. Speed limits and the price of petrol impact real estate values, prices, and the reactions of buyers and sellers in the marketplace. When the speed limit on I-70 increased from 55 MPH to 70 MPH, suburban homes in the Millersburg area of west Callaway County, jumped 10% in one year, because this bedroom community 15-18 miles east of Columbia in Boone County was suddenly closer in timewise. If the price of gasoline and natural gas go through the roof here in central Missouri, and gasoline has already broken the $3/gallon price barrier, suburban homes could take a hit. Also these big expensive rascals that every brother and their dog Spot are building around here, may become a wee bit more costly to heat and cool. In Missouri you need heat in the winter, and central air in the summer. It gets bloody cold, and bloody hot and humid here in the Show Me State. I suspect energy will play a major role in the future with respect to real estate values and prices, but I could be wrong -- perhaps folks will start commuting, going to soccer games, and the grocery store on bicycles? The Show Me State is pretty high up on the FBIs hit list with respect to mortgage fraud. Pretty nasty stuff all around. Yep, Everything is Up to Date in Kansas City! The Price of Gold is getting hammered today as of this writing. The DOW is hanging in there at 10,400+- and appears to be in suspended animation. Inflation stubborn? Ah, Gee Whiz -- the FED causes inflation itself by its very existence. Gimme a Break... and on second thought, gimme them there ole time loan loss reserves. We don't look for real estate prices to top out anytime soon. In fact it is highly likely that the Boys at the FED and their minions peddling ABS and MBS to global investors can keep this Ponzi Shell Game going for a number of years. I suppose we should just sit back in our easy chairs with our cigars and brandy, and feel the rooms appreciating all around us in our adobe huts. Sometimes I feel like I am on a runaway train and the track is straight as far as the eye can see... I just hope this rascal doesn't derail on the first major curve in the track... the denouement could be interesting.
Ole Bear, Editor © 2005 Realty Reality |
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