LET’S BORROW AGAINST OUR HOMES LIKE IT’S 2006

17 comments

Posted on 9th October 2014 by Administrator in Economy |Politics |Social Issues

, , , , , , , ,

Here we go again. After a two year Wall Street engineered fraudulent boost in home prices in the exact markets that led the bubble in 2003 through 2007, the delusional dolts are now acting like the increase in home equity is real. Do delusional idiots congregate in California, Nevada, Florida, Arizona and Ohio for a reason? The morons in these markets are ramping up new home equity lines of credit at a 60% to 90% pace over the prior year.

It’s as if the lesson of the previous bubble was completely forgotten in a couple years. Are these people really that dumb? The housing market started rolling over six months ago. Prices peaked, new single family home sales peaked, existing home sales peaked and the Wall Street investors are exiting stage left. Now the very same Wall Street hucksters want you to borrow against the artificially inflated value of your house and spend that money on more shit you don’t need, or to lease a brand new Escalade. It’s called the American Way. So it goes.

Via RealtyTrac

HELOC Share of Total Loans at Highest Level Since 2008

Biggest Jumps in Inland California, Las Vegas, Cincinnati, Phoenix

RVINE, Calif. – Oct. 9, 2014 — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its first-ever U.S. Home Equity Line of Credit Trends Report, which found that in the 12 months ending in June 2014 a total of 797,865 Home Equity Lines of Credit (HELOCs) were originated nationwide, up 20.6 percent from a year ago and the highest level since the 12 months ending in June 2009.

The report also shows HELOC originations accounted for 15.4 percent of all loan originations nationwide during the first eight months of 2014, the highest percentage since 2008.

“This recent rise in HELOC originations indicates that an increasing number of homeowners are gaining confidence in the strength of the housing recovery and, more importantly, have regained much of their home equity lost during the housing crisis,” said Daren Blomquist. “Nearly 10 million homeowners nationwide, representing 19 percent of all homeowners with a mortgage, now have at least 50 percent equity in their homes, according to RealtyTrac data. Meanwhile the percentage of homeowners with severe negative equity has decreased from 29 percent in the second quarter of 2012 to 17 percent in the second quarter of this year.

“The rise in HELOCs also reflects a natural evolution for a lending industry looking for products they can offer to homeowners who have already refinanced their first position loan into a low fixed rate,” Blomquist added. “A HELOC enables homeowners to leverage additional equity they may have gained since refinancing while still preserving the rock-bottom interest rate on their first position loan.”

Inland California, Las Vegas, Cincinnati, Phoenix post biggest annual increases
Among the nation’s 50 largest metropolitan statistical areas with HELOC data available, 49 posted year-over-year increases in HELOC originations in the 12 months ending in June 2014. The only metro area with a decrease was Rochester, N.Y., where HELOC originations decreased 1 percent.

Metro areas with the biggest year-over-year increase in HELOC originations were Riverside-San Bernardino in Southern California (87.7% increase), Las Vegas (85.1% increase), Cincinnati (81.0% increase), Sacramento (65.1% increase), and Phoenix (60.1% increase).

Major metros with the smallest increases in HELOC originations from a year ago were Minneapolis-St. Paul (0.2 percent increase), Louisville, Ky., (3.3 percent increase), Philadelphia (3.6 percent increase), Virginia Beach (4.3 percent increase), and St. Louis (5.6 percent increase).

U.S. HELOC originations 76 percent below 2005-2006 peaks
Despite the year-over-year increases, HELOC originations were well below their peaks from the previous housing boom. Nationwide, the 797,865 HELOC originations in the 12 months ending in June 2014 were 76 percent below the previous peak of 3,299,007 in the 12 months ending in June 2006. The 15.4 percent share of HELOCs year-to-date nationwide was also below the 24.7 percent share in 2005.

HELOC originations were below their previous peaks in 49 out of the nation’s 50 largest metro areas. The only exception was Pittsburgh, where HELOC originations reached a new peak in the 12 months ending in June 2014.

Major metro areas with the biggest decrease in HELOC originations in 2014 compared to their previous peaks were Riverside-San Bernardino (down 93 percent), Las Vegas (down 92.9 percent), Miami (down 92.5 percent), Tucson, Ariz., (down 92.4 percent), and Orlando (down 92.2 percent).

HELOCs biggest share of originations in Honolulu, Upstate NY, Cleveland, Milwaukee
Among the nation’s 50 largest metro areas, those with the highest share of HELOC originations as a percentage of all loan originations year-to-date in 2014 were Honolulu (43.5 percent), Rochester, N.Y., (38.7 percent), Buffalo, N.Y., (32.1 percent), Cleveland (28.5 percent), and Milwaukee (27.5 percent).

Major metro areas with the lowest share of HELOC originations as a share of all loan originations year-to-date in 2014 were Las Vegas (5.8 percent), Dallas (6.5 percent), Riverside-San Bernardino (7.7 percent), Houston (7.9 percent), and Tucson, Ariz. (8.0 percent).

Other markets where HELOC originations represented less than 10 percent of all loan originations year-to-date in 2014 were Atlanta (8.1 percent), San Antonio (8.6 percent), Oklahoma City (9.2 percent), and Austin (9.9 percent).

Report methodology
The RealtyTrac U.S. Home Equity Line of Credit Trends Report provides counts of HELOC loans originated and the HELOC share of total loans originated using mortgage and deed of trust records collected in more than 900 counties nationwide with a combined population of more than 240 million, representing 78 percent of the U.S. population. Home Equity Lines of Credit are non-purchase loans that are secured by the equity (the appraised market value of that property minus any other loans secured by that property) and can be used by homeowners to fund home improvement projects or other purchases.

ACED IT BITCHEZ!!!

50 comments

Posted on 6th October 2014 by Administrator in Economy |Politics |Social Issues

, , , ,

We are a country of maroons. Pew Research conducted a survey of Americans last week regarding basic facts that every American should know about the world. It consisted of 12 questions. I got all 12 correct in the one minute it took me to complete the quiz. The results of the quiz on a national basis are mind boggling and confirms everything we think about the ignorant zombie masses staring at their iGadgets. Being connected doesn’t make you smart or aware of what is happening in the world.

Take the quiz by clicking HERE, before reading my comments.

Get a load of these results:

  • Only 1% of Americans got all 12 question correct. I made it into the 1%. Yippee!!!
  • 58% of Americans got less than 6 answers correct.
  • 33% of Americans got less than 4 answers correct. It’s a multiple choice quiz with only four options. You could guess randomly and get 3 answers correct.
  • Sorry women. Men answered 11 of the 12 questions more accurately than women.
  • It does appear that college makes you smarter, but not necessarily smart.
  • Young people are dumb. Hysterically, the only question they aced was the level of the minimum wage. I guess they know that one because that’s what they are making, based upon their clear lack of intelligence.
  • Only 33% of Americans know the unemployment rate.
  • Only 20% of Americans know that Social Security is the highest spending item in the budget.
  • Only 20% of Americans know the poverty rate.
  • Only 24% of Americans know the name of the chairperson of the Federal Reserve.

The ignorance is breathtaking to behold. But, I bet that more than 75% of ignorant Americans know the name of Kanye West and Kim Kardashian’s bastard baby. If so few people know who runs the Federal Reserve, imagine how many Americans understand inflation and currency debasement. We are truly doomed. And we deserve everything we are going to get. We are a country of morons, run by morons, for morons. Morons unite.

CLIMATE CHANGE MORON MARCH

19 comments

Posted on 22nd September 2014 by Administrator in Economy |Politics |Social Issues

, , ,

The best way to discredit these morons is to let them gather in one place and speak.

MORE MORONS

11 comments

Posted on 19th September 2014 by Administrator in Economy |Politics |Social Issues

, , , , ,

One Party Under Surveillance For Perceived Safety &  Security for All.

Republicans & Democrats unite to support fighting the same people we armed last year to fight our perceived enemy last year.

We have become a nation of ignorant, frightened, brain dead pussies.

 

Most Americans Support Military Action Against ISIS

During a crisis meeting in Paris, the US proved successful in building an international coalition to combat the Islamic State in Iraq and Syria. 24 countries have pledged to support the US in countering the “global threat” posed by the group, which was recently highlighted once again when Australian police foiled a plot to behead a random member of the public.

Support is also mounting at home – 53 percent of Americans are firmly behind Obama’s plans for military action, according to the Pew Research Center. The president is also enjoying a rare display of bipartisan support – 64 percent of Republicans and 60 percent of Democrats support the military effort against ISIS.

Events are escalating in Iraq with US fighter aircraft striking ISIS forces south-west of Baghdad earlier this week. US warplanes have attacked ISIS positions, primarily in northern Iraq, 174 times. French President Francois Hollande has just confirmed that France has launched its first air attacks against ISIS targets in Iraq.

Views on Obama’s plan for military action against ISIS in Syria.

Infographic: Most Americans Support Military Action Against ISIS | Statista

You will find more statistics at Statista

iMORON PICTORIAL ESSAY

11 comments

Posted on 19th September 2014 by Administrator in Economy |Politics |Social Issues

, , ,

So this is what the 92 million people who have “voluntarily” left the labor force have been doing. They’ve been waiting in line for the new iPhone 6. Of course this is a rational thing for an iMoron to do. They couldn’t possibly go online and have the phone delivered to their house in the next two days. They couldn’t saunter into Wal-Mart or any of the other millions of retail outlets that will have these Chinese made, NSA approved, surveillance gadgets, in the next week and whip out that credit card or lease it with nothing down. iMorons must unite. They must broadcast to the world their utter stupidity, materialism, and lack of jobs. The shallowness, vapidity, and utter foolishness of the vast swath of America is breathtaking to behold in all its iGlory. So it goes.

View image on Twitter

View image on Twitter

View image on Twitter

View image on Twitter

View image on Twitter

View image on Twitter

 

View image on Twitter

View image on Twitter

View image on Twitter

View image on Twitter

View image on Twitter

View image on Twitter

$15 PER HOUR

18 comments

Posted on 10th September 2014 by Administrator in Economy |Politics |Social Issues

, ,

iMORONS UNITE

13 comments

Posted on 3rd September 2014 by Administrator in Economy |Politics |Social Issues

,

Only six days until iPhone 6. Hurry and grab your place in line. They will only be available all the time everywhere.

I wonder if it will be as cool as the iPhone 5. I bet this chick is in line again.

SURROUNDED BY IDIOTS & MORONS

39 comments

Posted on 28th April 2014 by Administrator in Economy |Politics |Social Issues

, , ,

Our schools, courts, and government are filled to the brim with idiots, morons, fools, do-gooders, and mental defectives. We deserve what is coming, good and hard. While the Chicago school system graduates functionally illiterate dolts into society and students murder each other at an astounding rate, they have successfully saved 2nd graders from the perils of a veteran teacher with semi-automatic wrenches, assault pliers and the dreaded screwdriver.

 

Federal Court Dismisses Case of Chicago School Teacher Who Was Suspended, Accused of Weapons Possession for Lesson on Wrenches, Pliers

April 17, 2014

CHICAGO, Ill. — An Illinois federal court has ruled that Chicago school officials did not violate the rights of a second-grade teacher who was charged with possessing weapons on school grounds after he displayed garden-variety tools such as wrenches, pliers and screwdrivers in his classroom as part of his second grade teaching curriculum that required a “tool discussion.” In granting a motion to dismiss the complaint in Douglas Bartlett v. City of Chicago School District #299, U.S. District Court Judge Robert Dow, Jr., held that school officials at Washington Irving Elementary School acted properly when they applied a definition of “weapons” contained in a student handbook to the actions of teacher Douglas Bartlett.

Attorneys for The Rutherford Institute filed the civil rights lawsuit in April 2013 on behalf of Bartlett, a 17-year veteran in the classroom, who was suspended without pay for four days on the grounds that his use of the tools as visual aids endangered his students, despite the fact that all potentially hazardous items were kept out of the students’ reach.

“In an age where public schools face an unprecedented number of real challenges in maintaining student discipline, and addressing threats of real violence, surely no one benefits from trumped up charges where no actual ‘weapons’ violation has occurred and no threat is posed to any member of the school community,” said John W. Whitehead, president of The Rutherford Institute and author of A Government of Wolves: The Emerging American Police State. “This school district’s gross overreaction to a simple teaching demonstration on basic tools such as wrenches and pliers underscores exactly what is wrong with our nation’s schools. Education truly suffers when school administrators exhibit such poor judgment and common sense, especially when it comes to their zealous misapplication of misguided zero tolerance policies. However, what makes this case stand out from the rest is that this victim of zero tolerance policies run amok happens to be a veteran school teacher.”

Doug Bartlett teaches second graders at Washington Irving Elementary School in Chicago, Illinois. On August 8, 2011, Bartlett displayed several garden-variety tools he used around the classroom, including wrenches, screwdrivers, a box cutter, a 2.25” pocketknife, and pliers, as visual aids for a “tool discussion” which is required by the teaching curriculum. It is common for teachers to use such visual aids to help students retain their lessons. As he displayed the box cutter and pocketknife in particular, Bartlett specifically described the proper uses of these tools. None of the tools were made accessible to the students. When not in use, the tools were secured in a toolbox on a high shelf out of reach of the students.

On August 19, 2011, Bartlett received notice that he was under investigation for, among other things, “possessing, carrying, storing, or using a weapon,” and for negligently supervising children. Bartlett subsequently received a four-day suspension without pay. In coming to Bartlett’s defense, Rutherford Institute attorneys filed a civil rights lawsuit, challenging the constitutionality of such disciplinary action against Bartlett as a direct violation of Bartlett’s Fourteenth Amendment right to due process. Institute attorneys also pointed out that Bartlett had no intent to use the tools as weapons, nor did he ever receive notice that using such tools in an educational manner could even be construed as using a weapon.

Affiliate attorney Dmitry N. Feofanov is assisting The Rutherford Institute with Bartlett’s case.