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Don't forget the all important job of naming government buildings after historical figures and past presidents
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Don't forget the all important job of naming government buildings after historical figures and past presidents
WASHINGTON (AP) Senate Republicans circulated a sweeping plan to drive down the cost of mortgages by expanding the federal government's role in the industry...
fucking idiot politicians still haven't figured out that artificially low interest rates were part of what went wrong
Funny how they only came up with this after Obama put his stimulus on the table.
Funny how they only came up with this after Obama put his stimulus on the table.
Funny how the Dems have been in control of congress for over 2 years and there is still this "need" for "emergency" stimulus packages.... What the hell have the been doing for the past 2 years??????
Making petitions to get Rush Limbaugh off the air ?
Making resolutions condemning "genocide" that happened decades before i was born ?
Clearly the crashing real estate markets continue to depress the economy.
If this would do something to revitalize that market and stabilize prices then it's probably a good idea.
Of course the other thing we must do is put American back to work at projects which are good public works investments, (like Rosetta for example.. I could hire and start training 5 people tomorrow if I could afford it) AND find means to incentivize investors to invest in businesses IN AMERICA which will put AMERICANS back to work at a decent wage.
Until the median price of an average home is roughly in relation to one-year's median salary, the housing crises will be with us.
The real formula is that the monthly mortgage taxes and insurance payment for a homebuyer should be about one week's salary)
Making it easier to buy an overpriced home (in relation to salaries, I mean) will NOT solve the problem becaue the buyers will still be strapped trying to buy that home.
The root of the problem is not one of rising taxes, it's one stemming from declining incomes.
And of course, the problem of declining incomes is mostly due to the insane trade policies we have allowed the develop over the last fifty years, so something must be done to stem the flow of imports and get AMERICANS working in factories making this stuff, too.
This is not rocket science, regardless of what the so called experts keep telling us.
Funny how they only came up with this after Obama put his stimulus on the table.
To respond to the president is the only way for the Republicans to get any press.
Funny how they only came up with this after Obama put his stimulus on the table.
Funny how the Dems have been in control of congress for over 2 years and there is still this "need" for "emergency" stimulus packages.... What the hell have the been doing for the past 2 years??????
Trying to elect a Democratic president so we can move the country in the right direction.
Funny how the Dems have been in control of congress for over 2 years and there is still this "need" for "emergency" stimulus packages.... What the hell have the been doing for the past 2 years??????
Making petitions to get Rush Limbaugh off the air ?
Making resolutions condemning "genocide" that happened decades before i was born ?
they spent a week or two grilling baseball players about steroids! as I recall.
Yeah... ain't it amazing? The government has thrown hundreds of billions in, to prop up the value of real estate in a market which can't afford those values and we just can't seem to find the bottom.... it's just crazy how that's hapenin'.
fucking idiot politicians still haven't figured out that artificially low interest rates were part of what went wrong
I hear you, but the derivatives are what destroyed the system.
Just like 1929....
yes, there are bread lines outside my house...you fucking dolt
Funny how they already did it once BEFORE Obama was President. Isn't it?
Quote:
Originally Posted by editec
Clearly the crashing real estate markets continue to depress the economy.
PU retorts:
Yeah... ain't it amazing? The government has thrown hundreds of billions in, to prop up the value of real estate in a market which can't afford those values and we just can't seem to find the bottom.... it's just crazy how that's hapenin'.
The government under Bush II threw 700 billions into banks to SAVE BOND HOLDERS, Pubie.
You really ought to try to pay attention to what's really been happening instead of rewriting history to suit your own goofy prejudices.
fucking idiot politicians still haven't figured out that artificially low interest rates were part of what went wrong
I hear you, but the derivatives are what destroyed the system.
Just like 1929....
I wonder why they needed to create derivatives?
yes, there are bread lines outside my house...you fucking dolt
Once again a rightie can only express himself with fucking dolt.
Maybe not out side your hosue, but a million jobs lost means a lot of people are having problems putting food on their dolt tables.
Do you deny that this is the worse economic plight we have been in since the great depression? I don't know what type of work you are in, but don't feel like you are perfectly safe in any job.
Notice, no fucking dolt lingo here.
Now folks, tell me what's wrong with people letting their houses be foreclosed on?
Well there are good aspects of letting the market "correct" and there are bad outcomes.
The good outcome is that the price of homes will fall in line with what the average American workers is making.
One of the bad outcomes is that millions of us would find that the one and only asset we thought we had, the value in our homes, would be reduced considerably. This will psychologically (and financially) devastate many of us who were counting on that money for our retirement.
Another problem is that the glut in the market would last a mighty long time, too, thus the real estate industry, from building to sales would be depressed for decades.
These people are in possession of an asset (?) that is not worth the loan they hold for it. they cannot possibly refinance to get out of an ARM, they cannot afford the payments.
In cases of many recent purchases, that is true.
WALK AWAY. Let the bank foreclose. Wipe the slate clean, rent a home or apartment you can afford. Save some money and rebuild your credit over the next several years. Take the lessons you've learned and start managing your finances better.
For those who did not invest their life saving in a downpayment I agree that might be their best choice.
They have nothing to lose.
But this problem is not limited to those people.
This problem is also effecting people who put down 10% or 20% of the purchase price of the home when they bought it, and who have been paying their mortgages all along.
And, given the crashing prices, if they just walk away (which incidently is not CHEAP TO DO. One cannot "just" walk away, one has to MOVE..that's not cheap) they just lost not only their homes, but the money they put into them, too.
I fail to understand this near complete lack of sympathy that many of you exhibit for those people facing a problem that they had absolutely nothing to do with.
Do you really believe that the only people effected by this problem are those who put nothing down and have only been paying their mortgages for a year or two?
Because if you do, you do NOT understand the true nature of this crises in housing.