Skip to Content.
Sympa Menu

homestead - Re: [Homestead] How Realtors Destroyed the Economy

homestead AT lists.ibiblio.org

Subject: Homestead mailing list

List archive

Chronological Thread  
  • From: bob ford <bobford79 AT yahoo.com>
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] How Realtors Destroyed the Economy
  • Date: Sat, 18 Oct 2008 09:41:11 -0700 (PDT)

Bankers also have a code of fiduciary reponsibility . And, realtors were no
more allowed to "redline" than were bankers. The bankers are in bed with the
politicians.

I agree with most of what you wrote, you are simply giving realtors much more
power and influence than they actually have. The average real estate agent
in this country with a bit of experience makes around $35,000 annually ( I
imagine that has dropped).


This is from 1997, concerning investment bankers:
"Career Profile


Number of people in the profession: 40,000
Percentage male: 90%
Percentage female: 10%

Average hours per week: 70
Average starting salary (analysts): $40,000
Average starting salary (associates): $100,000
Average salary after 5 years: $300,000
Average salary after 10 years: $1,000,000 "

Now, that was in 97, beofre the bubble, and didn't include bonuses, which in
many cases far exceeds salery. The figures for 2007 would probably be at
least double. Who does it look like has the power?

Why do you think that Wall Street , Investmentment banks, and hedhge funds,
are contributing to democrats 3-1 and 4-1, over repub.s They are not buying
favors. Thjey are buying 'protection'.

Also, the problem is far bigger than monetary value of the non-paying ,
subprime mortages. Even with those, over 90% are still (so far) making their
payments. The problem exploded because of the hedges and derivatives
associated with the mortgages.

Everything you say is right, except for finding the behind-the-scene,big-
money-players blameless . 'just my opinion , though. And, my opinion, two
years ago was that real esate would keep inflating values until I sold my
last property. My opinion is fallible :-) ....bobford






--- On Sat, 10/18/08, Clansgian AT wmconnect.com <Clansgian AT wmconnect.com> wrote:

> From: Clansgian AT wmconnect.com <Clansgian AT wmconnect.com>
> Subject: Re: [Homestead] How Realtors Destroyed the Economy
> To: homestead AT lists.ibiblio.org
> Date: Saturday, October 18, 2008, 10:10 AM
> Bob:
> > > But the narrators conclusion that the realtors
> are the sole cause, and
> > that the banking enterprises are blamesless ,is just
> plain wrong.
> >
>
> Lynn:
> >Bob; I agree.
>
>
> Here's where the two of you would be mistaken: Bankers
> do NOT make the
> rules. Bank policies are set by federal agencies, at the
> time this was going on it
> would be the rules governing Freddie and Fannie via the
> Federal Reserve and
> the Treasury.
>
> Through the influence of Obama and his cohorts ACORN
> lobbied successfully to
> change the criteria for loans so that every indigent in the
> ghetto would
> qualify for a mortgage loan. The banks cannot
> discriminate. If you show up for a
> loan, they have to offer you the same loan that they were
> obliged to offer the
> wino that some Realtor® dragged to the bank to get a loan
> so they could get
> thier 6% no matter how the transaction later turned out.
>
> The banks had little choice in the matter.
>
> However the Realtors® are supposed to be operating under
> some code of ethics
> or the other. Yet during this time the NAR was the single
> lagest contibutor to
> the senators and congressmen on committees setting banking
> policy. Thousands
> of Realtors® pocketed the 6% knowing full well the person
> could not afford
> the house... knowing full well or else being too dumb to
> know otherwise and
> small odds.
> _______________________________________________
> Homestead list and subscription:
> http://lists.ibiblio.org/mailman/listinfo/homestead
> Change your homestead list member options:
> http://lists.ibiblio.org/mailman/options/homestead/bobford79%40yahoo.com
> View the archives at:
> https://lists.ibiblio.org/sympa/arc/homestead

__________________________________________________
Do You Yahoo!?
Tired of spam? Yahoo! Mail has the best spam protection around
http://mail.yahoo.com




Archive powered by MHonArc 2.6.24.

Top of Page