Posts Tagged ‘ debt ceiling ’

Real Estate 360 Live With Louis Cammarosano 1/14/13

On Monday January 14, 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 (12:49)

Ryan and Louis discuss the Federal Reserve minutes. Louis notes the what the Fed does is most important and that it’s also important what the Fed says, but only in the short time.

Louis predicts a continuation of quantitative easing and that gold and silver will continue to rise.

Ryan notes that the Fed is talking up the economy.

Louis notes that the Fed is concerned that the perception is that the they will continue to print will under mine confidence in the dollar and therefore they talk down their quantitative easing plans.

Louis notes that the Fed will continue with QE but is not interested in being first among countries in the race to debase.

Louis and Ryan discuss the fiscal cliff and the debt ceiling. Louis notes that the debt ceiling doesn’t need to be raised for the US to pay interest on its debt.

Louis notes that Democrats and Republicans are both fans of spending and have no interest in cutting spending and are interested in raising the debt ceiling so they can continue spending.

Ryan and Louis discuss some examples of government waste and how the government picks winners and loses by allocating subsidies.

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Posted by: Louis Cammarosano on January 23rd, 2013 under Louis Cammarosano on Real Estate Radio

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Real Estate Radio With Louis Cammarosano 7/25/11

On Monday July 25, 2011, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate Radio show on The Big Talker 1580 AM, hosted by Ryan Sloper.

Listen to the show.

Part 1 (24:25)

Ryan discusses the heat wave that is gripping the nation. Louis and Ryan discuss the debt ceiling and the lack of a deal to date. Ryan notes that there is tremendous uncertainty. Louis notes that  a signal should have been sent to the market that the US would not default on its debt and would cut spending elsewhere to ensure that money would be available to pay debt holders. Louis notes that the President’s position is  largely based on not wanting to be negotiating a debt reduction deal when he is running for reelection. Louis notes that the US has a triple A credit rating despite having a $14 trillion deficit and having difficulties coming up with an agreement on how to service it. Louis mentions Ron Paul’s idea that the US should not pay the interest on the bonds that the Federal Reserve bought with money they created out of thin air. Ryan and Louis discuss their surprise that mortgage interest rates are still low. Louis notes that a grand plan to reduce the deficit is not feasible in a week and that Congress needs to change how they do business, rather than relying on raising the debt ceiling. Ryan notes the suggestion of eliminating the mortgage interest deduction as a means to reduce the deficit. Louis notes that the government uses arbitrary numbers and applies them nation wide and does not account for regional differences in the costs of living. Ryan notes an idea floating around that the government might take over foreclosed homes and rent them out. Louis notes the political posturing that takes place by noting that the public is told that essential services like police and fire departments or social security may be cut if the budget is not passed. They never threaten to shut down things like the Department of Energy or the Department of Education, rather they threaten what you need.  Louis notes that the entire debt ceiling debate is framed in terms of raising the debt ceiling as necessary to pay the bonds rather than noting that debts can be prioritized. Ryan and Louis discuss the nature of government and its involvement in the economy. Ryan predicts a double dip recession and that interest rate will rise. Louis notes that the Fed is merely trying to reheat the economic souffle with QE1 and QE2. Louis and Ryan note that a 4% mortgage rate is a good deal given that the inflation rate is higher than that.

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Posted by: Louis Cammarosano on August 13th, 2011 under HomeGain on Real Estate Radio, Louis Cammarosano on Real Estate Radio

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Real Estate Radio With Louis Cammarosano 7/11/11

On Monday July 11, 2011, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate Radio show on The Big Talker 1580 AM, hosted by Ryan Sloper.

Listen to the show.

Part 1 (24:33)

Ryan covers the Casey Anthony murder trial. Ryan noted that Moody’s downgraded Portgual’s credit rating to junk status. Ryan and Louis discuss Italy’s credit rating. Louis notes that Italy is too large of country to bail out and that many western countries have similar debt issues and keep kicking the can down the road by issuing more debt. Louis notes that the road eventually will be a dead end. Louis notes that the debt issues faced by countries can not be solved by issuing more debt. Ryan predicts that the US debt ceiling will be raised. Louis agrees and notes that the issue is that the debt ceiling gets raised routinely and immediate spending cuts are not taken seriously. Louis speculates that the Fed could secretly funnel money to third parties to purchase US debt and comments that since the Fed is not audited it is difficult to keep tabs on their activities;Ryan and Louis note that interest rates are kept artificially low and that all the sovereigns have debt issues; Ryan note that by keeping interest rates low bubbles are created. Louis notes that today’s low interest rates are designed to reflate the housing bubble but notes that as our currency is debased, even if interest rates rise and home prices drops the losses could be offset by paying back in the debased currency;Louis notes that owning a home, commodities, gold and silver may be safe havens in light of economic uncertainty;Louis and Ryan discuss the difference between buying  homes as investments vs. speculating and flipping homes;Louis notes that at interest rates in the single digits and below the real inflation rate, the banks are paying borrowers to take the money;Ryan and Shaun Murphy of Remax discuss the Arlington real estate market and note that the market is relatively stable given the amount of government contractors in the area. Shaun notes that 12% of loans in June were VA loans ; cash deals were 11%, conventional loans were 60% and FHA loans were 17%;Ryan and Louis discuss stated loans for self employed borrowers;Louis asks what will happen to the DC market if there are federal cuts; Louis  notes,however, the prospect for significant federal cuts are remote;Ryan notes that Warren buffet predicts a housing rebound at the end of this year and that unemployment would drop below 8%; Louis remarks that just because Warren Buffet is a good stock picker does not mean that he understands the overall economy and notes that Warren Buffet has belittled gold as an investment, yet gold has out performed Buffet’s Berkshire Hathaway’s stock; Louis also notes that  Buffet often expresses his opinions on the debt ceiling and the tax ceiling; Shaun discusses the rental market in the DC area. Louis notes that as rents rise, owning a home as a primary residence or investment becomes more attractive and also notes that as inflation rises, rents will also rise, whereas a home owner with a fixed mortgage will not see their monthly payments go higher.

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Posted by: Louis Cammarosano on August 7th, 2011 under HomeGain, HomeGain on Real Estate Radio, Louis Cammarosano on Real Estate Radio

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