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And what exactly did Cuomo do while working at HUD that affected the housing bubble that erupted well after his tenure there? Also how did Cuomo specifically affect the housing bubble that actually started under BUSH II, the president after Clinton? Let's hear some facts if you have them.
uhm.. the housing bubble started under clinton in 1995,
the average house on long island in 1995 was 130-180k...by 2005/6 (the peak) the average house was going for 450-750k.... AN UNHEARD OF DRAMATIC INCEASE
1995 clinton (through his chief of HUD (Henry Cisneros, and continued under Andrew coumo)) eased the rules on obtaining mortgages allowing more 'exotic' mortgages and 'no-dov' mortgages-----the consequence ......housing SKYROCKETED causing low inventories causing a 'not normal' increase in home prices, sellers got greedy, buyers got even greedier (looking to PROFIT in a skyrocketing market by flipping) and bought THINKING that prices would still increase and their ADJUSTABLE mortgage would pay it self off in MINIMUMAL years...EVEN THOUGH THESE INCREASES IN HOME VALUES WERE TOTALLY UNHEARD OF, AND MORTGAGE RATES WERE AT 40 YEAR LOWS( what did they think an adjustable mortgage gotten at 40 year lows would do in the term(3 months-3years) when it adjusted...of course it would go up, their CONTRACT even said after the term it would be 6% PLUS PRIME)))
The above is the start of the mortgage meltdon: Clinton's National Homeownership Strategy...http://www.businessweek.com/the_thread/hotproperty/archives/2008/02/cli (broken link)
btw
U.S. Proposes Rules to Help House Buyers
Published: March 5, 2000
The proposed rules from the Department of Housing and Urban Development would require two of the largest housing finance companies in the country, Fannie Mae and Freddie Mac, to increase the percentages of overall loans that they offer to lower-income families from the current standard of 42 percent to 48 percent in 2000 and to 50 percent in 2001.
The companies(fannie and freddie) would be required over the next 10 years to buy $2.4 trillion in mortgages from banks and other lenders to assist the 28 million American families with low and moderate incomes. Many of those families are minorities, housing officials said.
The companies buy mortgages for homes and apartment buildings from banks, savings and loans and other mortgage lenders, and package and sell the loans to investors. When Freddie Mac and Fannie Mae buy mortgages from lenders, they provide the lenders with cash to issue new mortgages.
Under the higher goals, the companies would buy an additional $488.3 billion in mortgages over the next 10 years for seven million more low- and moderate-income families. The new mortgages would be added to the $1.9 trillion in mortgages for about 21 million families that would have been helped by the current standards.
Homeowners Record Is Set in Third Quarter
By STEVEN A. HOLMES
Published: November 1, 1997
Independent analysts, as well as those in the Clinton Administration, say that the rising number of homeowners -- including many, like Ms. Crittendon, who are first-time buyers -- is the result of several factors. These include low interest rates, low unemployment, rising incomes, a number of Federal assistance programs, increased competition among mortgage lenders, and better enforcement of fair-housing laws.
''It's not just that it's a strong economy,'' said Andrew M. Cuomo, Secretary of Housing and Urban Development. ''It's that people are willing to believe that they'll have a job long term, that their house will appreciate and that their incomes will grow.''
In 1995, seeking to save his department from elimination by the newly elected Republican-led Congress, Housing Secretary Henry G. Cisneros adopted a ''national homeownership strategy'' that eased requirements to qualify for Federal Housing Administration-insured loans and reduced closing costs by as much as $1,200 on those loans for first-time buyers.
For many potential homebuyers, the lack of cash available to accumulate the required downpayment and closing costs is the major impediment to purchasing a home. Other households do not have sufficient available income to to make the monthly payments on mortgages financed at market interest rates for standard loan terms. Financing strategies, fueled by the creativity and resources of the private and public sectors, should address both of these financial barriers to homeownership."
To Surprise of Many Experts, Housing Boom Keeps Rolling
By LOUIS UCHITELLE
Published: May 27, 1999
Against all expectations, the housing market is continuing to boom. Around the country, home construction and sales of existing homes from January through April ran well ahead of the similar period in 1998, itself a strong year. And the slight weakening last month seems unlikely to reverse the trend unless interest rates move noticeably higher.
Home prices are rising, too, and home ownership has reached its highest level in history: 66.7 percent of America's households.
Further, federally guaranteed mortgages are more generous, with the ceiling now as high as $209,000, up from $176,000 last October. A new $500,000 tax exemption on profits from home sales fosters greater turnover of existing homes. And rising home prices have encouraged many people to move up to larger homes, often in newly built suburbs farther and farther from downtown.
The rich are cashing in their stock market profits to build the million-dollar homes that are appearing in Memphis for the first time, sometimes on plots where smaller homes were torn down. And lower-income people are buying more factory-made mobile homes -- 370,000 last year -- than at any time since 1973, when baby boomer families were piling into the housing market.
Older couples, taking advantage of the 1997 law that exempts from taxes the first $500,000 in profit from a home sale, are increasingly selling the large houses in which they raised their children. In their place, they are purchasing smaller homes, sometimes two smaller homes, one of them a vacation retreat. To Surprise of Many Experts, Housing Boom Keeps Rolling - NYTimes.com
the boom started under clinton..continued under bush
the bubble burst because the liberals wanted people who could never afford a mortgage to get one
its like that guy on cnn crying about losing his house...we all felt sorry for him, till we find its a 700k house and he only earns 50k a year
uhm.. the housing bubble started under clinton in 1995,
the average house on long island in 1995 was 130-180k...by 2005/6 (the peak) the average house was going for 450-750k.... AN UNHEARD OF DRAMATIC INCEASE
1995 clinton (through his chief of HUD (Henry Cisneros, and continued under Andrew coumo)) eased the rules on obtaining mortgages allowing more 'exotic' mortgages and 'no-dov' mortgages-----the consequence ......housing SKYROCKETED causing low inventories causing a 'not normal' increase in home prices, sellers got greedy, buyers got even greedier (looking to PROFIT in a skyrocketing market by flipping) and bought THINKING that prices would still increase and their ADJUSTABLE mortgage would pay it self off in MINIMUMAL years...EVEN THOUGH THESE INCREASES IN HOME VALUES WERE TOTALLY UNHEARD OF, AND MORTGAGE RATES WERE AT 40 YEAR LOWS( what did they think an adjustable mortgage gotten at 40 year lows would do in the term(3 months-3years) when it adjusted...of course it would go up, their CONTRACT even said after the term it would be 6% PLUS PRIME)))
The above is the start of the mortgage meltdon: Clinton's National Homeownership Strategy...http://www.businessweek.com/the_thread/hotproperty/archives/2008/02/cli (broken link)
btw
U.S. Proposes Rules to Help House Buyers
Published: March 5, 2000
The proposed rules from the Department of Housing and Urban Development would require two of the largest housing finance companies in the country, Fannie Mae and Freddie Mac, to increase the percentages of overall loans that they offer to lower-income families from the current standard of 42 percent to 48 percent in 2000 and to 50 percent in 2001.
The companies(fannie and freddie) would be required over the next 10 years to buy $2.4 trillion in mortgages from banks and other lenders to assist the 28 million American families with low and moderate incomes. Many of those families are minorities, housing officials said.
The companies buy mortgages for homes and apartment buildings from banks, savings and loans and other mortgage lenders, and package and sell the loans to investors. When Freddie Mac and Fannie Mae buy mortgages from lenders, they provide the lenders with cash to issue new mortgages.
Under the higher goals, the companies would buy an additional $488.3 billion in mortgages over the next 10 years for seven million more low- and moderate-income families. The new mortgages would be added to the $1.9 trillion in mortgages for about 21 million families that would have been helped by the current standards.
Homeowners Record Is Set in Third Quarter
By STEVEN A. HOLMES
Published: November 1, 1997
Independent analysts, as well as those in the Clinton Administration, say that the rising number of homeowners -- including many, like Ms. Crittendon, who are first-time buyers -- is the result of several factors. These include low interest rates, low unemployment, rising incomes, a number of Federal assistance programs, increased competition among mortgage lenders, and better enforcement of fair-housing laws.
''It's not just that it's a strong economy,'' said Andrew M. Cuomo, Secretary of Housing and Urban Development. ''It's that people are willing to believe that they'll have a job long term, that their house will appreciate and that their incomes will grow.''
In 1995, seeking to save his department from elimination by the newly elected Republican-led Congress, Housing Secretary Henry G. Cisneros adopted a ''national homeownership strategy'' that eased requirements to qualify for Federal Housing Administration-insured loans and reduced closing costs by as much as $1,200 on those loans for first-time buyers.
For many potential homebuyers, the lack of cash available to accumulate the required downpayment and closing costs is the major impediment to purchasing a home. Other households do not have sufficient available income to to make the monthly payments on mortgages financed at market interest rates for standard loan terms. Financing strategies, fueled by the creativity and resources of the private and public sectors, should address both of these financial barriers to homeownership."
To Surprise of Many Experts, Housing Boom Keeps Rolling
By LOUIS UCHITELLE
Published: May 27, 1999
Against all expectations, the housing market is continuing to boom. Around the country, home construction and sales of existing homes from January through April ran well ahead of the similar period in 1998, itself a strong year. And the slight weakening last month seems unlikely to reverse the trend unless interest rates move noticeably higher.
Home prices are rising, too, and home ownership has reached its highest level in history: 66.7 percent of America's households.
Further, federally guaranteed mortgages are more generous, with the ceiling now as high as $209,000, up from $176,000 last October. A new $500,000 tax exemption on profits from home sales fosters greater turnover of existing homes. And rising home prices have encouraged many people to move up to larger homes, often in newly built suburbs farther and farther from downtown.
The rich are cashing in their stock market profits to build the million-dollar homes that are appearing in Memphis for the first time, sometimes on plots where smaller homes were torn down. And lower-income people are buying more factory-made mobile homes -- 370,000 last year -- than at any time since 1973, when baby boomer families were piling into the housing market.
Older couples, taking advantage of the 1997 law that exempts from taxes the first $500,000 in profit from a home sale, are increasingly selling the large houses in which they raised their children. In their place, they are purchasing smaller homes, sometimes two smaller homes, one of them a vacation retreat. To Surprise of Many Experts, Housing Boom Keeps Rolling - NYTimes.com
the boom started under clinton..continued under bush
the bubble burst because the liberals wanted people who could never afford a mortgage to get one
its like that guy on cnn crying about losing his house...we all felt sorry for him, till we find its a 700k house and he only earns 50k a year
According to the Census Bureau the median home vale on Long Island in 2000 was $214,600 (higher in Nassau, lower in Suffolk)
New York Republican gubernatorial candidate Carl Paladino criticized gays Sunday, saying he didn't want children "to be brainwashed into thinking that homosexuality is an equally valid or successful option," compared to heterosexuality.
"It isn't," Paladino said at a stop in Brooklyn, New York.
A prepared version of his remarks obtained by CNN from New York affiliate NY1 said that "There is nothing to be proud of in being a dysfunctional homosexual," though Paladino did not wind up delivering that line.
"That's not how (God) created us," the prepared remarks continued, though Paladino did not say those words.
Paladino distributed copies of his prepared remarks to reporters at the event, an address to a group of Orthodox Jews in Brooklyn's Williamsburg neighborhood.
The one thing that I do admire about this Paladino guy is, he is not afraid to speak his mind. I don't agree with everything he says, but I dig the fact that he seems to not be a typical cookie-cutter politician.
The one thing that I do admire about this Paladino guy is, he is not afraid to speak his mind. I don't agree with everything he says, but I dig the fact that he seems to not be a typical cookie-cutter politician.
Exactly, he's the type of game changer that we need in Albany. Otherwise, the sheeple of NY can expect a lot more of the same.
Looks like a typical media hit job against candidates going against the establishment. Similar to the propaganda coming out bashing Rand Paul after he said "we are taking our government back". And the two other women tea partiers - one was accused of being a witch and the other they busted out raunchy photos from her facebook. It looks like Paladino was sent those emails and he was just passing them on like other people do (ie- look at the FW:FW:FW in the email headers). I don't think he went out and found this content himself and made a huge effort to spread it. (that Ms France vid was wild, I must admit )
I would vote for the guy the media is bashing most.
Looks like a typical media hit job against candidates going against the establishment. Similar to the propaganda coming out bashing Rand Paul after he said "we are taking our government back". And the two other women tea partiers - one was accused of being a witch and the other they busted out raunchy photos from her facebook. It looks like Paladino was sent those emails and he was just passing them on like other people do (ie- look at the FW:FW:FW in the email headers). I don't think he went out and found this content himself and made a huge effort to spread it. (that Ms France vid was wild, I must admit )
I would vote for the guy the media is bashing most.
Want to keep this focused locally so will just make a quick comment about the national stuff you mentioned. People didn't go after Paul just because of his "taking back American" comment, it was his refusal to answer if he would vote for the 1964 Civil Rights Act, his comments on Unemployment Benefits, social security, etc. The witch comments were just odd, but O'Donnell is insane (the focus I think should be more on the campaign donations for personal use). The so called raunchy photos was from a Democratic candidate.
As far as Paladino, first as far as the e-mails. Just because people forward around this kind of crap doesn't make it right. He sent around a bunch of insane racist crap, most normal people would find that crap disgusting and not forward it out. Hell most people who send that crap out from a business address would be fired in a heartbeat. As far as his latest comments. Its not a media hit job, please. The guy made a bunch of bigoted remarks (or well released them on paper) he deserves to be criticized for it. Too bad for him this is New York, not Mississippi, calling gays "dysfunctional" just doesn't fly here. hell the New York Post of all papers has slammed him on this.
Want to keep this focused locally so will just make a quick comment about the national stuff you mentioned. People didn't go after Paul just because of his "taking back American" comment, it was his refusal to answer if he would vote for the 1964 Civil Rights Act, his comments on Unemployment Benefits, social security, etc. The witch comments were just odd, but O'Donnell is insane (the focus I think should be more on the campaign donations for personal use). The so called raunchy photos was from a Democratic candidate.
As far as Paladino, first as far as the e-mails. Just because people forward around this kind of crap doesn't make it right. He sent around a bunch of insane racist crap, most normal people would find that crap disgusting and not forward it out. Hell most people who send that crap out from a business address would be fired in a heartbeat. As far as his latest comments. Its not a media hit job, please. The guy made a bunch of bigoted remarks (or well released them on paper) he deserves to be criticized for it. Too bad for him this is New York, not Mississippi, calling gays "dysfunctional" just doesn't fly here. hell the New York Post of all papers has slammed him on this.
I agree. The media doesn't have to do any work to make him look like a lunatic. I would say he was raised by wolves, but I think wolves are better than that.
[URL="http://www.cnn.com/2010/POLITICS/10/10/new.york.paladino.gays/index.html?hpt=T2"]New York gubernatorial candidate criticizes gays - CNN.com[/URL]
He lost any thought I'd give him when he threatened to "go public" with Cuomo's lovelife. When you have to peer into someone's bedroom in an attempt to tear them down, it means you have nothing to offer, yourself.
Want to keep this focused locally so will just make a quick comment about the national stuff you mentioned. People didn't go after Paul just because of his "taking back American" comment, it was his refusal to answer if he would vote for the 1964 Civil Rights Act, his comments on Unemployment Benefits, social security, etc. The witch comments were just odd, but O'Donnell is insane (the focus I think should be more on the campaign donations for personal use). The so called raunchy photos was from a Democratic candidate.
As far as Paladino, first as far as the e-mails. Just because people forward around this kind of crap doesn't make it right. He sent around a bunch of insane racist crap, most normal people would find that crap disgusting and not forward it out. Hell most people who send that crap out from a business address would be fired in a heartbeat. As far as his latest comments. Its not a media hit job, please. The guy made a bunch of bigoted remarks (or well released them on paper) he deserves to be criticized for it. Too bad for him this is New York, not Mississippi, calling gays "dysfunctional" just doesn't fly here. hell the New York Post of all papers has slammed him on this.
"O'Donnell is insane" - because the media propaganda machine says she was, so it must be true. The media also claimed the wars were about "freedom".
"The so called raunchy photos was from a Democratic candidate." - Tea Party doesn't see Red or Blue. They just have to abide by the duopoly that is in place (until we can break up the duopoly into 5-6 different parties, this is the way it's going to be)
"People didn't go after Paul just because of his "taking back American" comment it was his refusal to answer if he would vote for the 1964 Civil Rights Act, his comments on Unemployment Benefits, social security, etc" Paul said he agrees with 90% of the Civil Rights act. But felt that Private* Businesses should have a right to operate as they please the same way a private home does. He has a point and is probably right. He probably should have just capitulated on this issue, but he is too honest for himself sometimes.
On social security, he's looking to fix the system so that the kids that are paying into it for the next 30 years don't get stuck holding the bag when the time comes for their SS benefits to kick in. You know how they always say, oh well SS is going to be bankrupt by 2037, so we won't see any of that money anyway. Well Paul is going to fix the broken system, would you rather he not address it all and let the kids get burned?
And for Paladino, he never called gays disfunctional. He said it was unhealthy for kids to be exposed to 2 men grinding in speedos at the gay pride parade. Not everyone wants their kids being exposed to this stuff, its a very sensitive issue. Most People with no kids will not care about this. When you have kids and you can really reflect on the gay issue, you may realize something wrong with this (you may, may have your AH-HA! moment when you really think about the issue and the problems it poses). He's not going to be fake like Cuomo and go march in the parade just to get the gay vote. That comment on disfunctional was spun and made up by the media (watch the interview he did today with Lauer).
First they (media, et al) called Paladino a racist. He proved this was a load of crap and eminated from the media machine (Cuomos weapon). Then they tried to say he was anti-sematic. This again proved to be a load of Sh*t, perpetrated by the propaganda machine. Now they are claiming he is a homophobic. This again is a bunch of crap, a typical weapon of the slowly dying and outdated liberalism & liberal controlled media in this country. The guy surely speaks his mind. Most people in this country would agree with him on all his stances. The emails were definitely poor judgement, but overblown if you ask me.
I suggest everyone read this brief yet amazingly accurate article entitle "the Last Refuge of Liberal" --- it is so spot on to the Liberal playbook. (judging from the article, the next tactic is to pin Paladino as an Islamaphobic.
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