The TERMINATOR Schwarzenegger to send out 20,000 pink slips

California has to be one of the most over inflated price gouging States in the US. Real Estate prices have been the biggest scam and now fall-out I believe,, in a long time coming...and now settling in. Stockton California is where the Real Estate crisis began....I use to live in Morgan Hill outside of San Jose....and home prices were so outrageously high....Nobody bought the homes to live in....it was just a means to make money from....One guy buys, just so he can sell at a higher price.....and that system just perpetuated itself, again, again, and again....Pretty soon its so expensive and the house and property is certainly not worth it. I had a millionaire friend name Sabad, who lived in a swanky flat in Stockton with a yacht at his back door...... He had several mercedes....in the construction business....Man what a pot smoker he was.....but that is how California was...back in the Reagan years........House prices in Stockton I remember were high at that time.....and I certainly could not afford one...although I loved Stockton....I only remember saying to myself ....these rich swanks are going to be eating dirt in the future.

I worked at IBM in San Jose........What a bunch of stoners they were......Don't expect to get promoted unless you sold drugs for the managers........That's why I left that Blue Chip company...So many people were getting into the Real Estate Business at the time...becoming Real Estate Agents, and Brokers......I bought a nice condo in Morgan Hill at the top of Dunne Hill from Mickey Zavack who worked out of Passageway Realty....He is probably long gone by now, but I used my GI bill to buy the place with a silent partner from IBM, named Terry Berg,. He did not live there, so I got stuck with 3/4 of the mortgage... my mortgage was over $1500usd  a month at the time, and my salary at IBM was a mere $400USD a week...I was not making it. I had to get a roommate.....and was unable to find anyone that was not using or selling drugs. People were breaking into my condo.....searching for drugs I found out my roommate Raul was selling.

The interest rate was at a whopping 16% which I had paid for nearly 2 years...and when they came down to 10% I asked my parter to refinance.....but he refused.....I was really pissed....So I took a 2nd out on the house, to get my money, and turned the property over to him.....so he had to pay the continued 16% and including my 3/4 responsibility....But I lost the GI bill, because it was attached to the loan........Nothing I could do....except walk away...... Do I feel bad about California and its crisis.....not! 

And the little story I gave here is just a small example to how it must be similar to many other examples from people living in that State. I lived there for over 5 years.....was beat up , robbed, was chased by bandit cops, because I did not want to stop my car....because I knew they only wanted to beatup people....Cops were caught beating up a guy....having him go into an epiliptic fit...when they continued beating him, because they thought he was on drugs.... I just did not trust stopping for them.....I had a beautiful black corvette....that car could move-out....they could not catch me, and lost them;  going off an exit, .....

If Arnold should do anything he should reduce all home prices in the State by at least 50%. He should reduce wages, and reduce prices of goods in the State....without needing to cut jobs... He needs to keep people....and getting to retain them by having them pay less for goods, he still keeps his support..... It is not about taxes......it is about the inflated prices people get caught up in.... Housing and many domestic things must be reduced in price so people can keep their things, and families together.......

And so where am I? I am in PR China........a bandit from the US government because I refuse to pay taxes to support the phoney war on terror......And if Arnold had any brains in his muscle head.....he would support a real investigation to 911....People do not take him serious as Governor...when he does not see or recognize the obvious that 911 was an inside job....He is smart enough to know.......He can't deny it was an inside job......One only needs to watch his thriller movies that have deep plots like his cloning movie...to prove he has keen perceptions to reality.....I will not believe he thinks Bush had nothing to do with 911, or Enron.....You better come clean Arnold......and get on the road to truth....before you take California to hell with you.............

Rev. Jermano

Been there done that..........

 

Well maybe.......if you were still here........you could talk........but you are not.........so dont........

How do you stay, when you are forced out? What live in a cardboard box, on the street, and expect people to believe me from that platform? No....it means I had to leave..They voted in Arnold,,because MR. Terminiator represented strength....but really really he is as puny as that guy in the cardboard box.....that's about where Ca. is going....when he continues on his layoff ideas....

I think they should reduce housing values more....Banks should unload mortages, by cutting them in half......the other half of the values should be setup in a Special State Real Estate Account. When housing starts selling again....all buyers are required to add ,25 % or less to their original loan...to make good on the bank loans.... 

  On the other side of the equation all the people in California will have their house values reduced by 50% or more.... The lost equity that is unable to be realized is reapportioned toward new construction and making new homes...The people who buy the new homes are required to submit a certain percentage from the closing costs to a 2nd New State Real Estate Account which reimburses loss equity values to homeowners. I call it The California Equity Redemption Real Estate Plan.   It will not reflect the value of the new home, or reflect an equity accumulation for that new home. Once the small percentage is paid....the homeowner now accumulates equity on that parcel.   That new home is free and unencumbered toward inflated values, and loss equity.. It takes a concerted effort to get people to work together to make things happen again...the difference is that house values will realize a true value cap.....so home values are not hijacked on runaway inflated values.....which ultimately are caused by buy and sell profiteers. Homes values will reflect equity accumulation, and legitimate loan values..   The Governor is doing the wrong thing by cutting jobs...We can't cut jobs....because they are the revenue lines making good on payments....They need to tackle this issue on the Price Value side...in the Real Estate Market... This is the industry that really drives California's economy. They can lower the cost of homes and cut mortgages in half,  which will spark new construction jobs, and redesign the equity pay back so owners are not facing losses... only needing to face new adjustments.   It is life itself...because the new needs to support the Old....as the old supports the new accelerations  for the positive outlay.   Rev. Jermano

Yor are right about a problem. Our whole country is out of ballance, the goverment keeps getting bigger and our rights keep getting smaller. But its we the people that have voted in those in power and it is we the people that, at least for now, can still vote em out. How corrupt can our goverment get before we will decide to make a real change and not one that is just words. If we keep heading in this direction, and its not a change its just an acceleration of the direction we were already going, we wont be a country of free people and it sure wont be a goverment of the people, by the poeple, and for the people. It is not a popular thing to say but our Country is becoming a people that does what is right in our own eyes. There is no absolute right and wrong anymore, or at least thats what we say when it fits our own plans. That is why we have coruption in the goverment and every where else.

As far as houses go I am in the same boat, I cant sell my house because its very upside down and its a small house so I know what you are talking about. The only thing we can do is to keep going and never give up. It might not fix it but we have a responsibility I believe to keep trying. With this bail out of everyone except the people I dont think there is a way we will come back form this. The question is do those in power really have our best interest in mind? Or do they have a global plan in mind where the fall of thecoutry is just part of the plan. I do enjoy our free speach, at least while it lasts. Thanks for responding to my comment.

My apologies about grammer and spelling, I work on my phone alot.

I see, so if the State said ok (Still Here) we have a plan....since the home value has declined....they look at your mortage amount.....They cut that mortgage in half. They then take into account the amount you have paid already as your equity earnings...and adjust the home value to the new mortgage balance they just cut in half.........

This establishes a real value....and you are no longer upside down in the note. You still have your equity....

The bank then takes the remaining portion it cut off from your mortgage....and puts it into a new approved bill passed by legislators to The California State Mortgage Redemption Account.

All homes in California will go through the same 50% reduction as I explained in your case.

All portions of the loans that were cut off the mortgages are placed in that account. Banks then are able to use that Account as its asset recovery database.. In otherwords when homes start selling again......the buyers, and sellers have to pay an agreed upon points schedule fee that goes to the banks as a redemption payment in the State Account.

The Seller must pay a fee, that is equal to the buyers first year monthly payments, in accordance to the percentage fee he needs to pay. For instance if his new mortgage is $1200 per month.....he pays $300... each month to the State Mortgage Redemption Account/ This means $900 goes to his equity paid, but $300 goes to the SMRA.

The sellers would have to pay up front. $3600.....or setup a payment schedule to the SMRA.

Given the circumstances I would hope the banks would give; toward this recovery plan as well, such as providing zero interest loans to new home buyers. Banks should be happy enough they are getting the money paid to them from the portion half of bad money that creates the NEW STATE MORTGAGE REDEMPTION ACCOUNT.

So what happens is this plan assures that housing prices will remain stable. People will start buying and building again because we have a means to make money...while assuring we have a plan  that Mortagages in banks given out are never lost.

We can not blame people who are called credit risks, because the job market is so poor, and it changes all the time. People just can't keep up with the payments, say they lose their jobs...so to call them a risk....is not right....The job market is the risk.

Banks then do not need bailout money. The issue then becomes creating jobs to support the new housing and economic activity....

No one talks specifics like I have.......and we should consider....

I think I am right...

Bro. Jermano

djarmono, I will give it to you that you are talking specifics and that is good. Most politians dont say anything specific because you might just figure out what they are really going to do. I have some quesions about youre plan though. What do you do for the owners that have been in there houses for a very long time and have paid them off with hard work and a lot of time? While I am not one of them if I were it would not be ok with me to have the value of my home going down. Even if you did not change the value of my house you have lowered the value of my nabors and thus my house. I think one answer is to change the morgage payments for people but there are problems with that as well. Again other people who keep making there payments dont get a break. Lowering taxes is always a way to get the economy going not higher taxes. It wont fix everything or fix it now but it would start.

I agree with you about the bail out, it wont help anyone that I know. Also if you want specifics how about this, if you give all this money to states to "bail them out" and start all these new programs and funding everything with bail out money what happens when the money runs out? The programs will still be still be in place but the money wont. The state is now in a worse condition than before the bail out. The answer is smaller goverment not biger, that wont happen but it is the answer. Less spending and less goverment. This bail out is the worst thing that could have happened to this country. It is the last straw that will break the back of the dollar.

If you are a man of the word then you know that the Bible has said this would happen and much more. There will be a one world currency and goverment. Our President has already said many times that it will mean something to say you are a world citizen when he is in office. If you are going to go for a world goverment you cant have a country that is free and independent right? So to assume that he has the best interest for our country as an independent nation could be a big mistake.

But again we voted him in all of the other politicians corrupt and all. Have you noticed that its just like a big pendulum? We vote in this side and it does not work so we vote in the other side, that does not work so we go back to the first and on and on. All the wile we keep getting farther and farther away form right and wrong. What do I mean? A universal truth, you dont say this and you dont say that  because it might offend that someone. So no one says the truth, there is a rhino in the room tearing everything up but you cant say anything because that group over there says, no I dont believe that. Well franlky it does not matter what I think, it matters what is real.

Good discussion.

....What do you do for the owners that have been in there houses for a very long time and have paid them off with hard work and a lot of time?

This is very easy to determine...Houses devalue as time move forward. How is it that an older home can become worth more than a new home? That is the lie..the fraud....part of the scam to the mortgage values line. Houses get old in time...really to a point of disrepair or needing repair... Prices on homes that are older...should never be worth more than new homes... The only time this has an exception is historical homes....meaning homes of government leaders...such as the home of President Jefferson...etc.

Ask yourself this....Why is it new cars lose their value the very instance they drive a new car off the sales lot? Cars never hold their value as they get older....until they become classics and memory lane items...where values from their time is doubled to present time values....and depending on their conditions. So why aren't home values viewed in a similar manner? Houses get old they should devalue...just like cars..just like everything that gets old.

America does it to people. Even old people are devalued and not helped or supported. We can't even get health care for them, protect them from freezing to death in their homes in the dead of winter...because they have no money to pay the heating bill. Yet......we think home values should go up in value as time moves forward? Maybe in Alice and Wonderland.... I would think people value is more important than false house and car value arguments.

People who have paid off their homes would have their homes revalued to determine their real worth...talking into account the age of the dwelling. Since they have no mortgage problem, because it is paid off...certainly they can not have their mortage available for the plan I have suggested...But their home value will reflect a true value instead of a false one.

........I know what you mean....the politicians never really fix anything....It's like a dog chasing his tail....running in circles...never solving a problem....so they vote in another dog to watch it run the opposite direction..really they are pathetic.

I have been trying to get the word out but websites I run into troubles with. Even here at NP..right now I am unable to post an article, or have these hangups in posting my article tags.....that takes forever. Sometimes I think it is a glitch...but perhaps really done on purpose....so I am unable to voice my opinions or views...Who can prove writers are not targeted, and software glitches imposed on them?

Really I need my own website.....that I have full control of....and not begging people to join their website.....NP here is a place I do not fully understand its operation.....like OpEdNews with Rob Kall they do not pay writers....but NP does not ask writers to give donations like R.Kall does all the time... I have no idea how NP gets its money to operate...I do not even know if the viewing of articles count is true of not do you? There could be a button that adds views, or prevents view counts to be shown....kind of like voting stealing....I don't know...

This is part of an article I wanted to post but unable too.......

I entitle it:

Smokeand Mirrors: Deficits and Surpluses: Obama the Jester.

 

I fail to see how they add things up? Now John McCain is squawking about reducing the military budget because of the new spending for a new Presidential helicopter? That's a laugh.....he wanted to lead us into a 100 year war with the world.    

 

Let's see. 700 billion bank bailout + 789 Billion Obama stimulus, + 2 trillion for the Afghanistan and Iraq War = 3 trillion 489 billion of debt...... and this leaves out a whole lot of other domestic things such as healthcare, education, and the money they give to Churches for keeping their mouth shut about going to War. Obama is talking about reducing the deficit in half by his next term? Yea right......flowers bloom outside in the dead of winter too.    

 

This certainly does add up to over 4 trillion in my view.....and they are keeping the War machine going.  Now they say they are ;leaving <?xml:namespace prefix = st1 />Iraq in 2010...while there is more troops in Iraq than when Bush was in control. They removed brigades, but increased soldiers in other units. Hardly a promise keeper. Obama is playing this time game, hoping we forget, making us try to lighten up.....all toward keeping Bush out of the spotlight....but knowing darn well he is the guy still controlling things back-stage.    

 

Obama is not going to have the deficit cut in half by his next election. He has to create jobs first that will actually be bringing in tax revenue to go toward paying down the debt. That is no easy task....to get the Private Sector to start hiring when all they see are sinking profits.     Really they should forgive the debt...and wipe the National Deficit Clean at zero. Change the idea they are borrowing money from the people to finance the bailout of the banks, and the stimulus....but call it the will of the peoples right to produce money for the sake of creating jobs. No payback is required.....it is an American thing to do for fellow Americans.    

 

I view it like this....if I owe $100 to uncle sam and my neighbor owes the same.....and we decide that it does not need to be paid back....then there is no deficit. right? Afterall the people are really Uncle Sam. What I am going to pay myself back the $100 I borrowed from myself?     That is nonsense.

 

So if all the American people said this..."there will be no deficit"... the stock market would certainly return to its normal activities....there would be no economic crisis....Now the stimulus will not be looked as being a stimulus....but as an abundance of wealth being pumped into the American Economy.....for the sake of the American Way.....    

 

Now this to me would make more sense....than the constant headaches and political maneuvering and waste of time....getting this and that.....passed through Congress. It should be that simple to do. The President and Congress and can do anything they want. That is freedom.. So why make us go through this deficit BS? all the time.?    

 

Rev. Jermano......

 

Jermano -

On the home values issue, I couldn't disagree with you more.  Homes age, and with age, their landscapes mature, their neighborhoods mature, and improve.  If we go on your theory that only new houses should be valued more than old houses, people will move further and further away from a city's core to get to the newer "more valueable" homes.  Sprawl, highways, traffic jams.  Ugh!  If you are suggesting, instead, that we just build throwaway houses so that we can build new in place of old, that's even more disconcerting - we live in a throw-away society that degrades our resources.  Let's not add houses to that formula.  

Now, if you are talking about "older" homes being 4 years old, versus a new one built across the street, I might agree that the used one might be worth less if the owner didn't improve it and treat it as a home (ie: by improving it through care and landscaping).  

That is all.