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.
Part 2 (12:06)
Ryan notes that in South Carolina a house committee pass a resolution to allow gold and silver to be used as legal tender. Louis notes there are other states considering similar legislation. Louis notes that the law will abolish tax on the sale of silver and gold coins. Louis discusses the investment characteristics of silver as a monetary and industrial metal.
Ryan notes Ron Paul support for a gold standard. Louis notes that economists always argue “this time it’s different”. Louis notes that there has not been a FIAT currency that has survived. Louis notes the history of John Law and how he wrested control of the French money supply and printed it out of existence. Louis notes that the only people that benefit from the printing of money are those that get it first; everyone else has their money devalued.
Louis notes its more profitable for banks not to lend money and to focus on trading and charging fees. Louis notes that the larger banks make up 70-80% of the banking sector and that regulations make it harder for smaller banks to compete.
Part 3 (13:32)
Ryan discusses rural loans and refinancing options. Ryan and Louis discuss short sales. Louis references the HomeGain Home Ownership Satisfaction Survey and notes that 83% of those purchasing a short sale are satisfied with their purchase. Louis notes that speaking with a professional Realtor is essential in the home buying or selling process and discusses how HomeGain’s Find a Realtor program works
Part 4 (10:52)
Ryan discusses a recent Smart Money article entitled “Why US home prices won’t recover” Louis notes that even if home values drop, if your mortgage payments stay the same during an inflationary period you will pay less than rent and eventually inflation will also push the value of homes higher.Ryan discusses rent to buy ratios
Listen to Austrian Economics on You Tube
Listen to Gold and Silver in South Carolina on You Tube
Listen to other Real Estate Radio shows with Louis Cammarosano
Listen to the Real Estate Radio show of April 30, 2012
Listen to the Real Estate Radio show of April 23, 2012
Listen to the Real Estate Radio show of April 16, 2012
Listen to the Real Estate Radio show of April 9, 2012
Listen to the Real Estate Radio show of March 26, 2012
Listen to the Real Estate Radio show of March 19, 2012
Listen to the Real Estate Radio show of March 12, 2012
Listen to the Real Estate Radio show of February 27, 2012
Listen to the Real Estate Radio show of February 13, 2012
Listen to the Real Estate Radio show of February 6, 2012
Listen to the Real Estate Radio show of January 30, 2012
Listen to the Real Estate Radio show of January 23, 2012
Listen to the Real Estate Radio show of January 9, 2012
Listen to the Real Estate Radio show of November 14, 2011
Listen to the Real Estate Radio show of November 7, 2011
Listen to the Real Estate Radio show of October 31, 2011
Listen to the Real Estate Radio show of October 24, 2011
Listen to the Real Estate Radio show of October 17, 2011
Listen to the Real Estate Radio show of October 10, 2011
Listen to the Real Estate Radio show of October 3, 2011
Listen to the Real Estate Radio show of September 26, 2011
Listen to the Real Estate Radio show of September 19, 2011
Listen to the Real Estate Radio show of August 29, 2011
Listen to the Real Estate Radio show of August 15, 2011
Listen to the Real Estate Radio show of August 8, 2011
Listen to the Real Estate Radio show of July 25, 2011
Listen to the Real Estate Radio show of July 11, 2011
Listen to the Real Estate Radio show of June 27, 2011
Listen to the Real Estate Radio show of June 20, 2011
Listen to the Real Estate Radio show of June 13, 2011
Listen to the Real Estate Radio show of June 6, 2011
Listen to the Real Estate Radio show of May 23, 2011
Listen to the Real Estate Radio show of May 16, 2011
Listen to the Real Estate Radio show of May 9, 2011
Listen to the Real Estate Radio show of May 2, 2011
Listen to the Real Estate Radio show of April 25, 2011
Listen to the Real Estate Radio show of April 18, 2011
Listen to the Real Estate Radio show of April 11, 2011
Listen to the Real Estate Radio show of March 21, 2011
Listen to the Real Estate Radio show of March 14, 2011
Listen to the Real Estate Radio show of February 28, 2011
Listen to the Real Estate Radio show of January 24, 2011
Listen to the Real Estate Radio show of November 29, 2010
Listen to the complete archive of Louis Cammarosano on Real Estate Radio shows
Real estate radio interviews also available on Youtube
About the Real Estate Radio Network
The Real Estate Radio Network® is a nationwide alliance of real estate related professionals with a common objective: delivering the timely truth about local Real Estate Markets over local radio stations.
The Real Estate Radio Network brings hard-working and ethical professionals in a community together. We provide the media and forum necessary for Consumers to learn the truth about important aspects of their financial life, which is mostly centered around their biggest investment, the home they live in. The Real Estate Radio Network® brings each radio program to the audience with a “live and local” show hosted by well-respected members in the local Real Estate and Financial community.
About Ryan Sloper
As a highly motivated mortgage consultant, with more than nine years of mortgage lending experience, Ryan Sloper has acquired a solid understanding of the local and national real estate markets. Ryan has been investing in residential and commercial real estate for the last 5 years, where he has first hand knowledge of what it takes to be a successful real estate investor. Ryan also hosts a weekly radio show, Real Estate Radio, which airs every Monday on 1580 AM in the Washington, DC Metro Area. Real Estate Radio also streams live nationally @ http://whfs.cbslocal.com/shows/real-estate-radio-with-ryan-sloper/
Great podcast Louis. I’ve heard the drug addict analogy before and I think it describes the economic situation perfectly. There comes a time when withdrawals are better for you then having the patient dying.
May 17th, 2012 at 7:50 pm