Comments on: An American dream: government gets out of housing http://blogs.reuters.com/breakingviews/2011/01/03/an-american-dream-government-gets-of-housing/ Mon, 26 Sep 2016 03:26:00 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: ctdeihl http://blogs.reuters.com/breakingviews/2011/01/03/an-american-dream-government-gets-of-housing/comment-page-1/#comment-5689 Wed, 05 Jan 2011 00:58:52 +0000 http://blogs.reuters.com/columns/?p=5010#comment-5689 Anyone looking to buy a house and have their mortgage through a Banking service or help from the Goverment is only gonna lose their homes in the coming years.With all the fraudulent activity (through The BANKS) and Goverment personals (incompiatent) not performing their dutys to the customers,this housing market will always come to a crash.My home is a FHA loan and I couldn’t get help to save my home,cause of the fraudulent activity through Lend America selling it to Wells Fargo without a finished appraisel,no FHA home inspection and house being sold to us over the market value($60,000 more then what it was worth).And all the covering up from MY Real Estate Agent that was also working for the seller and working with the Loan Officer from Lend America.Buying a home exsperiance has become a living nightmare.

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By: Welchjenn http://blogs.reuters.com/breakingviews/2011/01/03/an-american-dream-government-gets-of-housing/comment-page-1/#comment-5677 Tue, 04 Jan 2011 15:44:55 +0000 http://blogs.reuters.com/columns/?p=5010#comment-5677 I just barely short sold my house in Nevada becuase it had lost 58% and had left me with no money left to live. There is a problem with the system when a hard working middle class person can’t maintain paying their mortgage. As Americans, we need to fight to keep government out of our mortgage industry even if that means renting for a couple years while you save up! We need to reorganize our priorities and regain our financial responsibility or risk losing everything, not just our houses!

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By: Acetracy http://blogs.reuters.com/breakingviews/2011/01/03/an-american-dream-government-gets-of-housing/comment-page-1/#comment-5674 Tue, 04 Jan 2011 13:09:37 +0000 http://blogs.reuters.com/columns/?p=5010#comment-5674 Reuters, just like the mantra coming out of the conservative think tanks, conveniently ignores the HUGE subsidy real estate commercial investment receives. Ever heard of 531 exchanges? That’s where the gains on a commercial property are NOT taxed if the proceeds go into another property. If that isn’t a pyramid scheme.

Another HUGE subsidy is that real estate partnerships avoid cap gains taxes until the partnership is dissolved and then the IRS has only that one year to be sure it gets paid. Look at the special tax treatment REITs receive. The list goes on and on.

And finally the HUGE tax abatements commercial property developers receive cities, states, etc. to develop properties. Don’t we all agree that in a free open capitalism that if a project isn’t profitable in itself, it should NOT get subsidies. Let’s be honest, did Goldman Sachs need a tax abatement to build a new HQ?

The individual homeowner is the one who foots the bill on these subsidies with higher and higher real estate taxes due to loss tax revenues. Yet Obama’s budget commission, Reuters, American Heritage, etc. seem to conveniently overlook the largess commercial real estate receives.

Case in point. My 1100 sq. ft. coop in Chelsea NY pays $13000 in real estate taxes, while a brand new $10 million, 5000 sq.ft condo unit built in 2006 right down my street pays $800 due to tax abatements. BTW, my real estate taxes in year 2000 were $4000. Thank you Bloomberg for shifting the tax burden to the little guy.

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By: ARJTurgot2 http://blogs.reuters.com/breakingviews/2011/01/03/an-american-dream-government-gets-of-housing/comment-page-1/#comment-5655 Mon, 03 Jan 2011 20:05:28 +0000 http://blogs.reuters.com/columns/?p=5010#comment-5655 If you haven’t already, read Raghuram Rajan’s latest book, Fault Lines. He doesn’t really say anything you don’t know already, but he looks at it from a different perspective. What he gave me was a vision on the whole credit thing from a perspective that pulled together a lot of things I knew, but hadn’t spend much time organizing.

Bottom line, yes, the U.S.G. can exit subsidizing mortgages. It can spend the money on prison guards and increasing security to deal with the shooting class war that will result instead.

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