More deadbeats about to lose their (free) housing

Quote from Tsing Tao:

Hypocritical, to the last. Bad mouth the rentier class when it manifests itself on the right, downplay and support it when it is on the left.
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How is that related (to this thread) article on housing shadow inventory a defense (or attack) of the rentier class?
 
Quote from Ricter:

How is that related (to this thread) article on housing shadow inventory a defense (or attack) of the rentier class?
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Oh, it's not related at all to the thread or the article that either you, or the thread creator (myself) posted.

But it's still a true statement.
 
Quote from Tsing Tao:

Oh, it's not related at all to the thread or the article that either you, or the thread creator (myself) posted.

But it's still a true statement.
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So your statement,
"After FASB suspended Mark to Market in 2009, banks didn't have to mark down the value of underwater houses until they were sold. So, of course, they kept them on their books as assets at the original purchase price, hoping that price would come back (and knowing it would when the Fed printed with reckless abandon). Once they sell the house, however, if it is at a loss, they have to recognize that loss then."

Is "not related at all" to housing shadow inventory? : )
 
I know a girl who lives on Long Island who's bank started the foreclosure process in 2008. 5+ years later she's still living there Scott free and has no plans to move out until they padlock the doors (however long that will take).

Of course, being a typical American, instead of saving up all the extra money that was supposed to go to her mortgage she lives check to check and doesn't have a pot to piss in.
 
Quote from Ricter:

So your statement,
"After FASB suspended Mark to Market in 2009, banks didn't have to mark down the value of underwater houses until they were sold. So, of course, they kept them on their books as assets at the original purchase price, hoping that price would come back (and knowing it would when the Fed printed with reckless abandon). Once they sell the house, however, if it is at a loss, they have to recognize that loss then."

Is "not related at all" to housing shadow inventory? : )
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Your attempts to "obfuscate" every single thread in P&R are "not related to the subject", yet you do so every single day and in every single thread.

Per usual, you take offense whenever anyone else simply plays "your game".

Kinda like your typical "ignore function" hypocricy.
 
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