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Real Estate 360 Live With Louis Cammarosano 5/7/12

On Monday May 7, 2012, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate 360 Live radio show on The Big Talker 1580 WHFS AM, hosted by Ryan Sloper.

Listen to the show.

Part 1 (14:54)

Ryan discusses the issues in Europe relating to the Euro and austerity plans. Louis notes that austerity is always difficult and notes the Austrian economists make the analogy that liquidating debt is painful and is like withdrawal from heroin but it needs to be done.

Politicians and populations given the choice will avoid the pain of austerity and kick the can down the road. Louis notes that the US is in a similar situation with politicians not advocating spending cuts but rather just a slow down in the rate of growth of spending. Louis notes that Ron Paul is the exception and has proposed $1 trillion worth of cuts in the first year of his administration.

Louis notes that Ron Paul is only promising freedom and liberty and is not promising benefits or increased government support which get politicians votes. Louis notes that a majority of the population is a recipient of government spending. Louis notes that Ron Paul will be holding hearings to End The Fed this week.

Louis notes that the bulk of US spending doesn’t come from tax receipts but from the issuance of debt that the Fed buys. Ending the fed would not be popular with big government types because it would mean that money would not be available to fund government programs. Ryan notes when there is trouble in Europe there is a “flight to safety” in US securities which drives interest rates down.

Louis doesn’t think there will be any discussion in the US to cut spending, unless Ron Paul ends up in the limelight challenging Romney. Louis does not think QE3 will happen prior to the election. Louis and Ryan discuss how the unemployment rate is calculated.

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Posted by: HG Blog Admin on May 17th, 2012 under HomeGain, HomeGain on Real Estate Radio

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Real Estate 360 Live With Louis Cammarosano 4/30/12

On Monday April 30, 2012, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate 360 Live radio show on The Big Talker 1580 WHFS AM, hosted by Ryan Sloper.

Listen to the show.

Part 1 (15:27)

Louis and Ryan discuss Ben Bernanke’s recent comments relating to keeping interest rates low for an extended period of time.  Ryan notes that interest rates are kept low out of necessity to keep the US interest payment obligations from being too expensive. Louis  adds that low interest rates also help keep the banks solvent. Louis notes that the policy statements don’t refer to these two points but rather state that low interest rates are in place to help the economy and consumers.

Louis notes that low interest rates are not good for consumers as they create an environment that does not encourage savings, so people are almost forced to put their savings into the stock market. Low interest rates also encourage consumers to take on more debt which is good for banks and not necessarily good for consumers. Ryan notes that loans are not available to small businesses that want to take advantage of the low interest rates.

Louis notes that the Fed policy of keeping interest rates low is market manipulation as interest rates are not driven by the market. Louis notes that if one can take advantage of these artificially low interest rate and lock in a long term mortgage you can hedge your future shelter costs against future increases. Louis notes that food and energy are stripped out of the official inflation rate.

Louis notes that the only reason the Federal Government can continue to run up deficits is because the Federal Reserve purchases the debt and that the Federal Reserve purchases 61% of all US Treasury issuance. Louis notes the Fed buys the debt with money that they print out of thin air which devalues the dollar.

Louis notes that Paul Krugman believes  that the government should be borrowing more money, and the Fed should be printing more money to pay for the borrowing to help the economy, rather than encouraging savings and production. Louis notes that if printing money was the solution to economic woes, all countries would just print more and all economic problems would be solved.

Louis notes that wealth is not created from the production and spending of money but rather from the savings and investing of money and production. Ryan notes Ron Paul’s views on monetary policy. Louis notes that gold and silver hold their value.  Louis notes that Congress ceded their authority on money to the Federal Reserve, a private bank and also notes Congress has also ceded to the President certain war powers.

Louis notes that Ron Paul’s position is not to run the economy or regulate people’s lives but rather to let people and the economy sort themselves out. Louis notes that most politicians make promises to get elected and that its difficult to get elected without a scheme.

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Posted by: HG Blog Admin on May 11th, 2012 under HomeGain, HomeGain on Real Estate Radio

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Real Estate 360 Live With Louis Cammarosano 4/23/12

On Monday April 23, 2012, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate 360 Live radio show on The Big Talker 1580 WHFS AM, hosted by Ryan Sloper.

Listen to the show.

Part 1 (14:40)

Ryan notes that the Fed is going to meet again next week and that many experts expect another round of quantitative easing. Louis thinks that the Fed won’t announce QE3 and that a lot of capital is flowing into the US as a result of the problems in Europe and that indeed many economists expect the US dollar to appreciate in value. Louis is not certain that is a well founded belief, but one that is prevalent.

Louis notes that an announcement of QE3 might cause a bit of a panic because it would be an admission that the recovery is not taking hold and oil prices would rise. Louis thinks that although the Fed may want to do QE3 they will probably hold off until after the election in November.  Louis notes that the average investor is either short on cash or can not save as interest rates are low so they put their money in the stock market which drives valuations higher.

Louis notes that if you really wanted a strong dollar you would want higher interest rates so people would save money and invest in treasuries, rather than the Fed printing money out of thin air to buy them and thereby devaluing the dollar. Ryan notes that the dollar is appreciating vs the Euro. Louis notes that the dollar is not however strengthening against gold silver and oil. Louis notes that the amount of gold being mined is not as great as the amount of money being printed.

Louis and Ryan note the rising rental market. Louis notes that college grads will also put pressure on the rental market as most won’t be in a position to buy homes as they have student loans to pay and poor job prospects and will more often than not be renting.  Louis notes that the American Dream of home ownership is in jeopardy for young people.

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Posted by: Louis Cammarosano on May 1st, 2012 under HomeGain Radio, HomeGain on Real Estate Radio, Louis Cammarosano on Real Estate Radio

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Real Estate 360 Live With Louis Cammarosano 3/12/12

On Monday March 12, 2012, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate 360 Live radio show on The Big Talker 1580 WHFS AM, hosted by Ryan Sloper.

Listen to the show.

Part 1 (14:46)

Ryan discusses the upcoming Fed meeting and the potential for more quantitative easing to keep interest rates low. Ryan notes that James Grant refers to the Fed actions as market manipulation. Louis notes that when interest rates are low for items that require borrowing, prices rise (housing, college tuition). Louis agrees that Fed and government policies contribute to this.

Louis notes that when there are low interest rates and an increase in the money supply and credit, not only do prices of goods that require borrowing rise, but prices of commodities like oil and gold and silver also rise. Low interest rates also create a speculative environment.

Ryan and Louis notes that the rise in the cost of oil also impacts the cost of finished goods. Louis notes that if there is QE3, the price of oil would rise which would not be good for the President’s reelection chances. Ryan notes that interest rates will need to rise if the dollar continues to be devalued. Louis notes we have been side tracked by the Arab Spring and Occupy Wall Street and that has taken public’s attention away from the US debt crisis.

Ryan notes that only Ron Paul is talking about the unsustainability of the US debt. Louis notes that Ron Paul and his message has been marginalized by the main stream media. Louis notes that a target inflation rate is not a good idea as it is a pre-calculated method of taking the value of people’s money away. Louis also notes that low interest rates force savers into the riskier equities market as they can’t get a positive rate of return in CDs. Continue reading this post

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Posted by: Louis Cammarosano on March 19th, 2012 under HomeGain, HomeGain Radio, HomeGain on Real Estate Radio, Louis Cammarosano on Real Estate Radio

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Real Estate 360 Live With Louis Cammarosano 2/13/12

On Monday February 13, 2012, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate 360 Live radio show on The Big Talker 1580 WHFS AM, hosted by Ryan Sloper.

Listen to the show.

Part 1 (14:38)

Ryan noted that Apple topped $500 a share and the passing of Whitney Houston. Ryan discusses the robo signing settlement with the banks. Louis notes that the banks now have to give back some of the money they received in the bailout.

Louis notes that the low Federal Reserve rates, the Community Reinvestment Act and policies of Freddie Mac and Fannie Mae encouraged excessive lending by the banks which caused the housing bubble. Louis notes that the settlement also involves more money being spent on the housing market. Louis notes that if banks lose money as a result of the foreclosure settlement, they will probably raise fees or interest rates. Louis notes that the onerous regulations that the banks are subject to keep competitors out.

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Posted by: Louis Cammarosano on March 12th, 2012 under HomeGain Radio, HomeGain on Real Estate Radio, Louis Cammarosano on Real Estate Radio

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Real Estate 360 Live With Louis Cammarosano 2/6/12

On Monday February 6, 2012, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate 360 Live radio show on The Big lowTalker 1580 WHFS AM, hosted by Ryan Sloper.

Listen to the show.

Part 1 (15:37)

Louis and Ryan discuss the Superbowl and the ads that played. Ryan reviews the 10 bond interest rates, the level of the Dow and the situation in Greece. Louis notest that Greece should just default and send a message to the market, rates would go up and governments would have to spend less as they could not afford to borrow money at the higher rates.

Louis notes the irony of a Greek default-it won’t draw attention to the US being in a similar situation, but rather will draw investors to the US as a safe haven. Louis notes that the debt crisis will end up on the US doorstep last and notes that the US won’t default but rather will print up the difference.

Louis notes that printing the difference is inflationary and is in effect a default as the investors will receive less value than they were anticipating. Louis notes that investors have become used to receiving  100% of their funds back from soverigns as they expect a trouble sovereign to be bailed out .

Louis notes that a potential bailout is priced into the risk, thereby reducing the risk and interest rates.  Louis notes that accounting rule encourage banks NOT to do short sales.

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Posted by: Louis Cammarosano on February 13th, 2012 under HomeGain Radio, HomeGain on Real Estate Radio, Louis Cammarosano on Real Estate Radio

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