Housing.com News, Analysis & Opinion: Friday Housing News

Ben Bernanke does seem to be aware of this, according to his comments to Jim Bunning, the one guy to ixnay Bernanke's nomination to succeed Greenspan as Big Giant Fed Head. I'm a little concerned that he's focusing on reforming Fannie and Freddie. Granted, they need it, but it seems to be too much in line with the Bush regime's policy of leaving housing to the whims of the market as much as possible. That kind of thinking is what inflated housing prices in the first place.

3. Do you think the government should institute a special renter’s tax to use towards the bailouts?

Heh. You just know some wonk over at the Fed was thinking of this very idea, only without the snark. ;)

To give you some perspective, here's a look at how bad things are getting for Wilma evacuees in Florida. It's not enough that Katrina and Rita's fallout is disappearing from the radar, but the media seems to be completely burying the devastation from Wilma. One million people without power in a country with our resources...nothing to sneeze at, kiddies.

At least FEMA has decided not to be turkeys about housing evacuees over Thanksigving, though they're clearly still Grinches for Christmas. Stop me if this whole "extending deadline" thing sounds a tad familiar.

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There's a good deal of economic uncertainty in the air today, as evinced by rising jobless claims and sluggish wage increases. We're definitely moving towards a model of growth through passive income--dividends, investments, and of course, home equity. That's the prime mover behind the economy's strength, and why the bubble watchers are dancing like angels on the head of a pin every time mortgage data gets released. Ben Bernanke does seem to be aware of this, according to his comments to Jim Bunning, the one guy to ixnay Bernanke's nomination to succeed Greenspan as Big Giant Fed Head. I'm a little concerned that he's focusing on reforming Fannie and Freddie. Granted, they need it, but it seems to be too much in line with the Bush regime's policy of leaving housing to the whims of the market as much as possible. That kind of thinking is what inflated housing prices in the first place. The folks over at Patrick.net are speculating--some tongue-in-cheek, some not--on the economic consequences of a bailout. Money quote: 3. Do you think the government should institute a special renter’s tax to use towards the bailouts? If you’re not a homeowner by now with all the incentives and easy money, then you’re just not a Patriot and deserve whatever’s coming to you. I want this thing to be as regressive as possible –the greater the % of HH income you spend on rent, the greater your tax should be. Same thing goes for unrepentent savers. If you have ton$ of money just sitting idle in CDs, money market or savings accounts, you’re practically asking to have the government take it away from you! HAHAHAHAHAHAHAHAHA, DIE RENTERS, DIE!!!!!! Heh. You just know some wonk over at the Fed was thinking of this very idea, only without the snark. ;) To give you some perspective, here's a look at how bad things are getting for Wilma evacuees in Florida. It's not enough that Katrina and Rita's fallout is disappearing from the radar, but the media seems to be completely burying the devastation from Wilma. One million people without power in a country with our resources...nothing to sneeze at, kiddies. At least FEMA has decided not to be turkeys about housing evacuees over Thanksigving, though they're clearly still Grinches for Christmas. Stop me if this whole "extending deadline" thing sounds a tad familiar. And on that recursive note, I bid you all a HAPPY THANKSGIVING!!!!!!!