OK…I Give Up! Stop Robbing Me. Ventura County Real Estate Doing’s for Week Ending September 13, 2008
September 14th, 2008 Categories: Weekly Real Estate Activity In Ventura County
Well let’s see what happened this past week.
On the National level and to no one’s surprise Fannie Mae and Freddie Mac were put into receivership.
Unfortunately the culprits that created these entities are now working on Fannie Mae and Freddie Mac II. Who are the culprits? View the article written in July, 2008, http://www.venturacountyretalk.com/2008/07/20/ventura-county-real-estate-doings-for-week-ending-july-19-2008/.
Yes you guessed it….Barney Franks and his coharts. The crafted legislation created by these brain thrusts will only cost the American taxpayer BILLIONS of $$$$$.
Just cannot wait for the next gift we will receive from our in-place political santa clauses.
In October, 1992, Jim Leach, Iowa Republican pleaded to put measures in place to control Fannie Mae and Freddie Mac. Barney Franks, Massachusetts Democrate musceled a counter arguement and prevailed.
Again in the year 2000 there were more cries to control Fannie Mae and Freddie Mac and once again Barney Franks prevailed citing that these institutions were public agencies.
Our political people (both in Sacramento and Washington) have redefined public agencies with self gratification, activist agendas and investment machines. One should worry when political people note that what they do is in context of the “will of the people”. Their people count is limited to the number of fingers they have on their hands.
We have too many Barney Franks types in Sacramento and Washington. What needs to be done now is to give these folks beach lounges and retire them to the beach. Their legacies are getting too expensive for tax payers.
Not all was bad this week. Interest rates dropped to 5.5% from above the 6% line. They should be going lower but banks will be hesitant to really provide the relief the Federal Reserve has put into place over the last several months.
Lines of credit are becoming extremely difficult to obtain; mortgage applications are still be made difficult. So the folks that should be helping the consumers are putting the screws to them instead.
The dollar dropped significantly this past week creating street talk that the Federal Reserve is once again going to lower interest rates. If there is a decrease one should can expect to see a small drop of about 1/4 point (if that).
Ventura County.
It is interesting how Mother Nature introduces little characters which can create havoc.
One such introduction is the African moth (called the False codling moth or “Thaumatotibia leucotreta”), which is from the sub-Saharan Africa and trapped in Port Hueneme this past week. This moth can jeopardize Ventura Counties (and California) agricultural economy.
It appears that this little guy likes field crops, cotton, avocado, peach and citrus trees.
This moth does two things. It destroys the fruit and can destroy fruit trees. A double threat insect that can quarantine the above Ag products from leaving the county or State and all fruits cannot be sold for human consumption. The years of building markets overseas will be put in jeopardy if this insect isn’t isolated quickly and permanently.
Should the fruits have to be destroyed many households will have to find substitutes for row crop foods which will increase prices significantly on the produce that is available.
It is hopeful that there are minimal if any twits whose whole existence is to counter productive efforts to erase this nemesis.
This week listings continued to decrease; sales dropped slightly (from 119 two weeks ago to 100 last week); days on the market settled lower and the variance remains approximately the same.
As an aside I have noticed that previous terms and digs such as “low-cost” housing, housing prices are too high, “un-affordable” have been limited are not used either in print or visual media recently. Interesting how the market place put the brakes to these comments.
Your comments are welcome.
