- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Replies (26)
- Joan Braunschweiger, "Morris County NJ"
- Contributions:1543
Neither or both. Politics in this country is all about who has the most money and therefore the most clout.
The NAR has plenty of both but leaves a lot to be desired in doing what is right for the RE industry, the people who it supposedly represents and the people who use our services.
The banking industry is so wrapped up in protecting their own financial interests that protection for consumers is seemingly nonexistent.
This isn't a party issue. Its a political corruption issue and if anyone can think of a realistic solution that will actually fly past the people who we entrust to legislate, then I have a great pot of gold at the end of a rainbow.
The NAR has plenty of both but leaves a lot to be desired in doing what is right for the RE industry, the people who it supposedly represents and the people who use our services.
The banking industry is so wrapped up in protecting their own financial interests that protection for consumers is seemingly nonexistent.
This isn't a party issue. Its a political corruption issue and if anyone can think of a realistic solution that will actually fly past the people who we entrust to legislate, then I have a great pot of gold at the end of a rainbow.
- S.Florida Realtor
- Contributions:9
Whatever party decides to stay completely out of the lending market. The recent regulations affecting borrowing have done nothing but delay the inevitable housing value crash. In other words, had the government, who created the housing bubble in the first place by forcing lenders to lend to the unqualified, stayed out of the picture and let the market do its thing, we would be way on our way up to a healthy market. The best thing these corrupt politicians can do for housing is nothing at all. In that regard I believe the Republicans may be somewhat better.
- Norm D Plume, "America Needs Nixon!"
- Contributions:1670
miss me yet?
- klarek the realist
- Contributions:7044
Both parties are owned by NAr. If there is a candidate that's not sponsored by NAr, I'll probably vote for them. If a candidate is a proponent of removing the mortgage interest deduction, I'll donate to them.
- Pasadenan
- Contributions:21453
Both parties are "just the same" when it comes to making stupid economic decisions. You can't get either of them to even start discussing abolishing HUD, Fannie Mae, Gennie Mae, Freddie Mac, FHA, and all the other foolish government "programs" designed to raise the price of houses and put money in the hands of 3rd party middlemen. And of course, both parties want the American tax payer to be 100% responsible for stupid business practices and people making decisions they can't follow through on. And then the Politicians don't want to balance the budget either, so for all these "programs" and "bailouts" that the Republicans and Democrats "asked for", "created", and "maintained", they just borrow more money from China (just like the two stupid immoral wars that Bush personally created that were 100% financed by China), so that a large and large percentage of the tax dollars we pay will go strictly to paying interest on the debt!
So, of course I won't vote for either!
But you really can't blame the politicians. It was primarily NAR that lobbied for these really stupid policies and programs and "strong armed" these pretend "representatives".
NAR needs to be put out of business!
Nothing will be "favorable" to Real Estate until NAR is defeated. NAR has been working against the home owner and the general public for decades!
So, of course I won't vote for either!
But you really can't blame the politicians. It was primarily NAR that lobbied for these really stupid policies and programs and "strong armed" these pretend "representatives".
NAR needs to be put out of business!
Nothing will be "favorable" to Real Estate until NAR is defeated. NAR has been working against the home owner and the general public for decades!
- SteadyState
- Contributions:783
Does not matter - both parties will be influenced by the lobbyist from the NAR, home builders, and mortgage bankers once they get elected.
- Dan, "the_country_hick"
- Contributions:4694
How do you define "helping resolve the actual situation."?
If you define that as making house prices go higher forget it.
If instead you mean allowing the housing market to crash and then to rebuild on a solid foundation it could be a very different answer.
If you define that as making house prices go higher forget it.
If instead you mean allowing the housing market to crash and then to rebuild on a solid foundation it could be a very different answer.
- Robert Lynn, "Bob Democratic Realt"
- Contributions:3
Anyone who is in the real estate industry and thinks the federal government should get out of the business of supporting the purchase of homes is a MORON! If not for their involvement you would not have a job! Every Real Estate Agent with any sense should be a Democrat.
If it wasn't for the government only the rich could buy houses. The financial crisis was NOT caused by the government - 86% of the defaulted loans were held by the banks who were not forced to make weak loans but did so then bet against their own deceptive derivatives. The remaining bad loans were held by Fannie and Freddy who at the time were not government entities but separate corporations with shares sold on the stock market. Both the Wall Street firms and Fannie and Freddy lobbied to eliminate any controls over their industry (such as getting rid of Glass-Steagall Act that for 50 years prevented the kind of great recession we are now experiencing). If it wasn't for the FHA insuring the loans and Fannie and Freddy buying them, very few homes could be presently be sold in this market. Look back to the time when these federal entities did not exist - home ownership was the exception instead of the rule.
If it wasn't for the government only the rich could buy houses. The financial crisis was NOT caused by the government - 86% of the defaulted loans were held by the banks who were not forced to make weak loans but did so then bet against their own deceptive derivatives. The remaining bad loans were held by Fannie and Freddy who at the time were not government entities but separate corporations with shares sold on the stock market. Both the Wall Street firms and Fannie and Freddy lobbied to eliminate any controls over their industry (such as getting rid of Glass-Steagall Act that for 50 years prevented the kind of great recession we are now experiencing). If it wasn't for the FHA insuring the loans and Fannie and Freddy buying them, very few homes could be presently be sold in this market. Look back to the time when these federal entities did not exist - home ownership was the exception instead of the rule.
- Dan, "the_country_hick"
- Contributions:4694
Robert, " If it wasn't for the FHA insuring the loans and Fannie and Freddy buying them, very few homes could be presently be sold in this market."
That is because the market knows a bad investment when they see it. No one in their right mind wants to loan money for 30 years at 4% when the federal reserve is printing money so fast the loss of value of the dollar will be more than the interest that could be gained.
Once the market is free of the government you can see interest rates that make sense and lenders willing to lend at those rates.
That is because the market knows a bad investment when they see it. No one in their right mind wants to loan money for 30 years at 4% when the federal reserve is printing money so fast the loss of value of the dollar will be more than the interest that could be gained.
Once the market is free of the government you can see interest rates that make sense and lenders willing to lend at those rates.
- SoCal_Engr
- Contributions:5663
"Anyone who is in the real estate industry and thinks the federal government should get out of the business of supporting the purchase of homes is a MORON! If not for their involvement you would not have a job! Every Real Estate Agent with any sense should be a Democrat."
As long as we're name-calling...
Anyone who thinks the government should exist to support and prop up an industry just so they can get a paycheck is a leech.
Now, for something a little more conducive to discussion and thought...
I have been hearing some interesting conversations about "unintended consequences". About how government attempts to make houses "more affordable" through subsidies actually just supports higher prices - because there is no need for the market to restrain itself and hold prices in check.
Less government, especially federal, is good. Withdrawal may be painful for those addicted to government support, but...
As long as we're name-calling...
Anyone who thinks the government should exist to support and prop up an industry just so they can get a paycheck is a leech.
Now, for something a little more conducive to discussion and thought...
I have been hearing some interesting conversations about "unintended consequences". About how government attempts to make houses "more affordable" through subsidies actually just supports higher prices - because there is no need for the market to restrain itself and hold prices in check.
Less government, especially federal, is good. Withdrawal may be painful for those addicted to government support, but...
- Pasadenan
- Contributions:21453
"The financial crisis was NOT caused by the government" -
Well at least that part of the statement was "correct".... If NAR didn't exist, then there would have been no housing bubble, and if there was no housing bubble, there would have been no need for a bubble correction!
There would have been no credit default swaps on Mortgage Backed securities if NAR hadn't insisted on HUD encouraging nothing down loans with no qualifications just to put people in houses they couldn't afford!
Government "Affordable Housing" is also another one of those government debacles that NAR is responsible for. Providing subsidized housing programs and government controlled housing programs does not make housing more "affordable"; it drives up the costs of the housing first by the overhead for such programs, and second by artificially increasing demand for housing that is over priced due to the subsidy. And most of the money doesn't go to housing at all, but goes to bureaucrats and special interest groups.
Why this country thinks they need one Realtor for every 200 people, I'll never know. If the "goal" is having neighborhood stability and a place for everyone to live, then people need to stop moving so much instead of the Realtors trying to convince everyone to move every 3 to 5 years.
So, "fix" the real estate market by voting against anyone that NAR lobbies for, and by voting against all Democrats and all Republicans.
Well at least that part of the statement was "correct".... If NAR didn't exist, then there would have been no housing bubble, and if there was no housing bubble, there would have been no need for a bubble correction!
There would have been no credit default swaps on Mortgage Backed securities if NAR hadn't insisted on HUD encouraging nothing down loans with no qualifications just to put people in houses they couldn't afford!
Government "Affordable Housing" is also another one of those government debacles that NAR is responsible for. Providing subsidized housing programs and government controlled housing programs does not make housing more "affordable"; it drives up the costs of the housing first by the overhead for such programs, and second by artificially increasing demand for housing that is over priced due to the subsidy. And most of the money doesn't go to housing at all, but goes to bureaucrats and special interest groups.
Why this country thinks they need one Realtor for every 200 people, I'll never know. If the "goal" is having neighborhood stability and a place for everyone to live, then people need to stop moving so much instead of the Realtors trying to convince everyone to move every 3 to 5 years.
So, "fix" the real estate market by voting against anyone that NAR lobbies for, and by voting against all Democrats and all Republicans.
- sunnyview
- Contributions:25127
"The remaining bad loans were held by Fannie and Freddy who at the time were not government entities but separate corporations with shares sold on the stock market."
Give me a break Robert. Wall street profiteered quite nicely with government backing. No entity compelled those banks to collect huge fees for NINJA ARM's and then run down the road with their profits while whining for a government bailout when their pyramid scheme collapsed. I think someone has been listening to too much talk radio.
Give me a break Robert. Wall street profiteered quite nicely with government backing. No entity compelled those banks to collect huge fees for NINJA ARM's and then run down the road with their profits while whining for a government bailout when their pyramid scheme collapsed. I think someone has been listening to too much talk radio.
- Robert Lynn, "Bob Democratic Realt"
- Contributions:3
What most everyone seems to miss is that the recession and housing crisis was not caused by the government but by unregulated Wall Street greed. Only after they created the mess did they come to the federal government to rescue them. At that point if the Bush administration had not intervened it would have caused a worse international depression than the Great Depression. NAR, HUD, and FHA had nothing to do with Wall Street's action. Those of you who keep believing that we should have minimal government regulation and involvement and just let the big banks and corporations run things are asking for a bigger disaster than the one we just experienced.
Sunnyview, I don't know why you are disagreeing with me as I'm making the same points you are.
Sunnyview, I don't know why you are disagreeing with me as I'm making the same points you are.
- Hamp Yonce, "Zilluminati"
- Contributions:3463
Some of y'all, on each side, need to go back and read what happened, and when. This whole thread represents the rumors, and not the facts. I'm not trying to make a racist remark here, but the NAACP had more to do with the relaxed lending guidelines than the NAR did. Personal greed, and lack of faith in traditional paper assets had more to do with it the bubble than the government did. If you're looking for one entity to blame for the crash, the rating agencies would deserve that honor.
Those that argue there needs to be more regulation can pay for it yourself. I don't want to pay any more for do nothing government employees. I'd like to fire about 38% of the current crew.
Those that argue there needs to be more regulation can pay for it yourself. I don't want to pay any more for do nothing government employees. I'd like to fire about 38% of the current crew.
- Pasadenan
- Contributions:21453
NAACP caused the HUD/FHA policy change by lobbying rather than NAR?
Then why does NAR keep claiming they are the largest most influential lobby group in the entire United States? And why do they keep claiming that it is their lobbying specifically that puts more people in houses, and increases housing ownership?
Just more plain blatant NAR propaganda to increase their membership, increase the dues they collect for government lobbying & deceptive marketing advertisements, and increase the frequency that people sell their houses?
Sure the rating agencies increased MBS sales overseas and for retirement plan investors; but the rating agencies were duped by the Federal Government backing nothing down loans for people that didn't qualify to buy as much as everyone else. The MBS would not have been toxic in the first place if it wasn't for really bad U.S. Federal Housing policy drempt up and lobbied for by NAR. Sure, NAACP backed NAR's efforts; but NAR has ALWAY's controlled the U.S. housing policies in this country.
It will never be "fixed" until either HUD is disbanded, or NAR has real competion from an alternate industry association. Very few industries have only one industry association to choose from.
Then why does NAR keep claiming they are the largest most influential lobby group in the entire United States? And why do they keep claiming that it is their lobbying specifically that puts more people in houses, and increases housing ownership?
Just more plain blatant NAR propaganda to increase their membership, increase the dues they collect for government lobbying & deceptive marketing advertisements, and increase the frequency that people sell their houses?
Sure the rating agencies increased MBS sales overseas and for retirement plan investors; but the rating agencies were duped by the Federal Government backing nothing down loans for people that didn't qualify to buy as much as everyone else. The MBS would not have been toxic in the first place if it wasn't for really bad U.S. Federal Housing policy drempt up and lobbied for by NAR. Sure, NAACP backed NAR's efforts; but NAR has ALWAY's controlled the U.S. housing policies in this country.
It will never be "fixed" until either HUD is disbanded, or NAR has real competion from an alternate industry association. Very few industries have only one industry association to choose from.
- sunnyview
- Contributions:25127
Firing just 38% of the current crew sounds a little low to me Hamp. lol If I'm going to pay for regulation with my taxes, I want regulation that actually has a benefit to the common citizen and works well enough to get the job done.
- Hamp Yonce, "Zilluminati"
- Contributions:3463
Then why does NAR keep claiming they are the largest most influential lobby group in the entire United States?
FIIK! If the NAR claimed that, it's absurd. Where did they claim that, and when? Did you just claim they claimed that, because it fits your particular distortion of reality?
The NAR pales in comparison to, let's see, the NRA, the AARP, the AFL-CIO, the NAACP, the Gov't Worker's Unions, etc... The NAR doesn't, never has, and never will, have the membership numbers to be the most powerful lobbying group in the nation. There's at least 60 ahead of them.
Grow up, man. Go blame somebody for something that people actually care about. No one cares if dumba$$, greedy, home buyers, or home sellers didn't get protected from themselves (except three really bored trolls on Zillow). That sounds like a job for the DEA. The War on Realty! Sounds about as smart as your War on Reality.
Here's an interesting article from 1997, about lobbying power, the NAR is not even top 10.
Don't be offended. Got to be able to take it, to give it.
EDIT ADDITION Here's a good article that almost supports your position.
FIIK! If the NAR claimed that, it's absurd. Where did they claim that, and when? Did you just claim they claimed that, because it fits your particular distortion of reality?
The NAR pales in comparison to, let's see, the NRA, the AARP, the AFL-CIO, the NAACP, the Gov't Worker's Unions, etc... The NAR doesn't, never has, and never will, have the membership numbers to be the most powerful lobbying group in the nation. There's at least 60 ahead of them.
Grow up, man. Go blame somebody for something that people actually care about. No one cares if dumba$$, greedy, home buyers, or home sellers didn't get protected from themselves (except three really bored trolls on Zillow). That sounds like a job for the DEA. The War on Realty! Sounds about as smart as your War on Reality.
Here's an interesting article from 1997, about lobbying power, the NAR is not even top 10.
Don't be offended. Got to be able to take it, to give it.
EDIT ADDITION Here's a good article that almost supports your position.
- Hamp Yonce, "Zilluminati"
- Contributions:3463
Another article that supports both of our suppositions, sort of. It doesn't mention the NAR in particular. I'm sorry about that. I'm looking for one that does.
- Joan Braunschweiger, "Morris County NJ"
- Contributions:1543
Wow! Where's the popcorn??
This is just getting interesting. Well, at least interesting as far as political discussions go.
This is just getting interesting. Well, at least interesting as far as political discussions go.
- Maria Morton, "MariaMorton"
- Contributions:716
Joan is dead on. This is a political corruption issue. How do we get corrupt politicians out and honest ones in either party?
How do we get politicians who will actually counter the greed of the corporations?
How do we get politicians who will actually counter the greed of the corporations?
- SteadyState
- Contributions:783
S. Florida Realtor says: "
In other words, had the government, who created the housing bubble in the first place by forcing lenders to lend to the unqualified, stayed out of the picture and let the market do its thing, we would be way on our way up to a healthy market."
Absolutely true. Sell one unaffordable home for $1M or 3 affordable mores for $500K. You do the math - many in the RE industry fail to see the elephant in the room - homes are no longer affordable for most buyers. This by definition is an unsustainable market (yes - I know there are pockets in the middle of the country where affordability is good but the high population centers on the two coasts are unaffordable for most buyers - the 99%.)
To the main topic: Both parties are corrupt and will do what the bankers (give them money at 0% so they can lend it to us at 4% and 20%) and the NAR (support mortgage interest deduction, no taxes on first $500K profit on house, monopoly without competition, etc.)
In other words, had the government, who created the housing bubble in the first place by forcing lenders to lend to the unqualified, stayed out of the picture and let the market do its thing, we would be way on our way up to a healthy market."
Absolutely true. Sell one unaffordable home for $1M or 3 affordable mores for $500K. You do the math - many in the RE industry fail to see the elephant in the room - homes are no longer affordable for most buyers. This by definition is an unsustainable market (yes - I know there are pockets in the middle of the country where affordability is good but the high population centers on the two coasts are unaffordable for most buyers - the 99%.)
To the main topic: Both parties are corrupt and will do what the bankers (give them money at 0% so they can lend it to us at 4% and 20%) and the NAR (support mortgage interest deduction, no taxes on first $500K profit on house, monopoly without competition, etc.)
- Robert Bentley, "robertbentley"
- Contributions:56
Anyone is better then the team we have in place now, so I would not focus on the Red and Blue and focus on a President that actually loves the Red the White and the Blue and we have many on both sides.
Jobs will push sales and sales will push prices...
Jobs will push sales and sales will push prices...
- Pasadenan
- Contributions:21453
"...that actually loves the Red the White and the Blue" ---
That would be the British and no-one else. Those have always been their colors. Anyone else using them just borrowed them from the British.
Anyone that takes an oath to "support and defend the constitution" has already taken an oath to support and maintain corruption and immorality.
That would be the British and no-one else. Those have always been their colors. Anyone else using them just borrowed them from the British.
Anyone that takes an oath to "support and defend the constitution" has already taken an oath to support and maintain corruption and immorality.
- Robert Lynn, "Bob Democratic Realt"
- Contributions:3
This is a quote from Factcheck.org which is a non-partisan non-profit dedicated to getting the facts out:
So who is to blame? There's plenty of blame to go around, and it doesn't fasten only on one party or even mainly on what Washington did or didn't do. As The Economist magazine noted recently, the problem is one of "layered irresponsibility … with hard-working homeowners and billionaire villains each playing a role." Here's a partial list of those alleged to be at fault:
- The Federal Reserve, which slashed interest rates after the dot-com bubble burst, making credit cheap.
- Home buyers, who took advantage of easy credit to bid up the prices of homes excessively.
- Congress, which continues to support a mortgage tax deduction that gives consumers a tax incentive to buy more expensive houses.
- Real estate agents, most of whom work for the sellers rather than the buyers and who earned higher commissions from selling more expensive homes.
- The Clinton administration, which pushed for less stringent credit and downpayment requirements for working- and middle-class families.
- Mortgage brokers, who offered less-credit-worthy home buyers subprime, adjustable rate loans with low initial payments, but exploding interest rates.
- Former Federal Reserve chairman Alan Greenspan, who in 2004, near the peak of the housing bubble, encouraged Americans to take out adjustable rate mortgages.
- Wall Street firms, who paid too little attention to the quality of the risky loans that they bundled into Mortgage Backed Securities (MBS), and issued bonds using those securities as collateral.
- The Bush administration, which failed to provide needed government oversight of the increasingly dicey mortgage-backed securities market.
- An obscure accounting rule called mark-to-market, which can have the paradoxical result of making assets be worth less on paper than they are in reality during times of panic.
- Collective delusion, or a belief on the part of all parties that home prices would keep rising forever, no matter how high or how fast they had already gone up.
The U.S. economy is enormously complicated. Screwing it up takes a great deal of cooperation. Claiming that a single piece of legislation was responsible for (or could have averted) the crisis is just political grandstanding. We have no advice to offer on how best to solve the financial crisis. But these sorts of partisan caricatures can only make the task more difficult.
- Pasadenan
- Contributions:21453
You forgot the most important one.... NAR, that specifically and intentionally scammed all those others into doing what they did.
Until 60% of the Realtors go back to flipping hamburgers, Real Estate will continue to be "corrupt" and the primary reason the politicians keep pointing fingers at each other to keep from doing the stupid things that all politicians state they intend to do.
Besides, it has never been "government of the people" nor "by the people"... it has always been for the mega wealthy, and controlled by the mega wealthy that remain invisible to the system and the public while they continue to "back" the politicians on both sides of every election so that they maintain their leverage regardless of who is in office.
Until 60% of the Realtors go back to flipping hamburgers, Real Estate will continue to be "corrupt" and the primary reason the politicians keep pointing fingers at each other to keep from doing the stupid things that all politicians state they intend to do.
Besides, it has never been "government of the people" nor "by the people"... it has always been for the mega wealthy, and controlled by the mega wealthy that remain invisible to the system and the public while they continue to "back" the politicians on both sides of every election so that they maintain their leverage regardless of who is in office.
- Hamp Yonce, "Zilluminati"
- Contributions:3463
The article that is linked to "real estate agents", in the factcheck list, does a fairly thorough job of describing the alleged culpability of the RE industry. It seems fair and balanced to me. It is 4 years old.
One thing that is not mentioned, is that financial privacy laws could potentially hinder a conscientious REA from achieving the level of protection some Buyer/borrowers required.
One thing that is not mentioned, is that financial privacy laws could potentially hinder a conscientious REA from achieving the level of protection some Buyer/borrowers required.
Democrats or Republicans? Whch will be more favorable to RE?
Is it going to make any difference after all? Democrats or Republicans?
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.