Real Estate Journal: January 2008


For Immediate Release January 24, 2008
	STATEMENT OF OFHEO DIRECTOR JAMES B. LOCKHART ON CONFORMING LOAN LIMIT INCREASE

We are very disappointed in the proposal to increase the conforming loan limit as we believe it is a mistake to do so in the absence of comprehensive GSE regulatory reform. To restore confidence in the markets we must ensure that the GSEs’ regulator has all the necessary safety and soundness tools. Yesterday Chairman Dodd talked about moving a GSE reform bill early this year. We are ready to work with him and the Senate Banking Committee. We will also be working with Fannie Mae and Freddie Mac to ensure that any increase in the conforming loan limit moves through their rigorous new product approval process quickly and has appropriate risk management policies and capital in place. ###

OFHEO's mission is to promote housing and a strong national housing finance system by ensuring the safety and soundness of Fannie Mae and Freddie Mac.

I'm watching the results of the Iowa Caucuses and hearing the claims of the "Oprah Affect" for Mr. Obama, which may or may not be true at this point. But, what I continue to remind my family and friends about is one thing. All this "ruckus" will determine who controls the largest checkbook in the world. The next time you hear a politician use the word 'billion' in a casual manner, think about whether you want the 'politicians' spending YOUR tax money.

A billion is a difficult number to comprehend, but one advertising agency did a good job of putting that figure into some perspective in one of its releases.

A billion seconds ago it was 1976 (31.71 yrs ago).
A billion minutes ago Hadrian was Emperor of Rome (105 A.D.).
A billion hours ago our ancestors were living in the Old Stone Age (112,147 BC).
A billion days ago no-one walked on the earth on two feet (2,737,718 BC).
A billion dollars ago was only 8 hours and 20 minutes, at the rate our government is spending it.

While this thought is still fresh in our brain, let's take a look at New Orleans. It's amazing what you can learn with some simple division.

Louisiana Senator, Mary Landrieu (D), is presently asking the Congress for $250 BILLION to rebuild New Orleans. Interesting number, what does it mean?

Well, if you are one of 484,674 residents of New Orleans (every man, woman, child), you each get $516,528.
Or, if you have one of the 188,251 homes in New Orleans, your home gets $1,329,787.
Or, if you are a family of four, your family gets $2,066,012.

Washington , D.C .. HELLO!!! ... Are all your calculators broken??

Not one of these taxes existed 100 years ago:

Accounts Receivable Tax, Building Permit Tax, CDL License Tax, Cigarette Tax, Corporate Income Tax, Dog License Tax, Federal Income Tax, Federal Unemployment Tax (FUTA), Fishing License Tax, Food License Tax, Fuel Permit Tax, Gasoline Tax, Hunting License Tax, Inheritance Tax, Inventory Tax, IRS Interest Charges (tax on top of tax), IRS Penalties (tax on top of tax), Liquor Tax, Luxury Tax, Marriage License Tax, Medicare Tax, Property Tax, Real Estate Tax, Service charge taxes, Social Security Tax, Road Usage Tax (Truckers), Sales Taxes, Recreational Vehicle Tax, School Tax, State Income Tax, State Unemployment Tax (SUTA), Telephone Federal Excise Tax, Telephone Federal Universal Service Fee Tax, Telephone Federal, State and Local Surcharge Tax, Telephone Minimum Usage Surcharge Tax, Telephone Recurring and Non-recurring Charges Tax, Telephone State and Local Tax, Telephone Usage Charge Tax, Utility Tax, Vehicle License Registration Tax, Vehicle Sales Tax, Watercraft Registration Tax, Well Permit Tax, and Workers Compensation Tax.
and our nation was the most prosperous in the world. We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids.
What happened? Can you spell 'politicians!'

Real Estate Journal

Friday, January 25, 2008

OFHEO NEWS RELEASE

Monday, January 21, 2008

National Commercial Real Estate News 1/21

Friday, January 4, 2008

The Oprah Effect

Real Estate Feeds

Network Links

Homes for sale in your market

Blog Archive