Orlando is a prosperity center of America (according to Billy Clinton) (Sanford: foreclosures, lease)

[fathamburger]

Bill Clinton: How to fix the economy - The Term Sheet: Fortune's deals blog Term Sheet

[chopchop0]

Yeah i saw that in his speech. Was pretty shocked honestly. I guess he didn't think about the epicenters of the foreclosure crisis when he made that statement.

[TedTLPN]

As Einstein once said, it is all relative.

Ok, maybe he didn't say it LIKE THAT....


The point being If you compare us to say Detroit and other cities that have imploded, Orlando has had it's blow softened by the tourist trade. Sure that market is not what it once was, but last time I checked, Sanford, and OIA were still servicing flights full of tourists from europe.. as many as before? No, but they are still coming. Orlando isn't doing anything "right" it's just lucky that it is the tourist capital of the world. That has helped make things better here than MANY other places in the US.

Oh... and if you think the RE market sucks here... Try Lehigh Acres....

[beckycat]

I don't necessarily agree with his statement about the economy being good here. I know it's bad everywhere and yes it can be worse here but it sure is heck isn't booming here.

I CAN NOT agree with him more about his strategies for the housing market. It only makes sense and I think it will help clean up this mortgage and foreclosure mess.

As for jobs, he came up with a point about having a new sector every 8 years to boost the economy. Something that would be the "new job" to stimulate the economy. Back in his time, he said it was IT that did it.

I don't know why they haven't implemented the buy down for mortgages yet as long as people could prove they could pay the new mortgage. It would eliminate vacant houses and foreclosures. In turn, it would stop foreclosures and then property values wouldn't lose their value so rapidly.

[hakuna_matata]

billy clinton?

[TedTLPN]

Originally Posted by hakuna_matata

billy clinton?

Rabid conservatism....When you can't show respect...

[TedTLPN]

Originally Posted by beckycat

I don't necessarily agree with his statement about the economy being good here. I know it's bad everywhere and yes it can be worse here but it sure is heck isn't booming here.

Have you gone out to eat at a more than $20/plate restaurant lately? I have, and while I didn't have to wait because I was early, there were lines waiting to get in when I left. Is that he kind of news the housing market needs? No, but it's a sign the economy is doing well enough when a family of 4 is willing to blow over $100 on a meal.

Originally Posted by beckycat

I CAN NOT agree with him more about his strategies for the housing market. It only makes sense and I think it will help clean up this mortgage and foreclosure mess.

Originally Posted by beckycat

As for jobs, he came up with a point about having a new sector every 8 years to boost the economy. Something that would be the "new job" to stimulate the economy. Back in his time, he said it was IT that did it.

I remember that well because I was a part of the IT boom. It's funny to me when people who absolutely adore him; run on about how he was the only modern president to enjoy a surplus. The fact was the previous administration opened up the internet to the public and he enjoyed the benefit. He made some good choices, and was a better president than HW and certainly W, but he was more lucky than good.

The problem now is that a lot of Americans are weary of the boom bust cycle. This administration is trying to shove the green economy as the new boom, but people are too poor to spend $17 on an LED lightbulb or $2.50 on a CFL, when they can spend under a dollar for a incandescent. Legislating incandescents out of the equation will help a little, but at the cost of the environment and our land fills being clogged by the mecury in CFL's. The Administration needs to figure out how to get the cost of LED's under control.

Originally Posted by beckycat

I don't know why they haven't implemented the buy down for mortgages yet as long as people could prove they could pay the new mortgage. It would eliminate vacant houses and foreclosures. In turn, it would stop foreclosures and then property values wouldn't lose their value so rapidly.

Very simple. Greed. The banks are out to rape every last dollar they can out of us.

[Soup Not See]

Originally Posted by TedTLPN

Have you gone out to eat at a more than $20/plate restaurant lately? I have, and while I didn't have to wait because I was early, there were lines waiting to get in when I left. Is that he kind of news the housing market needs? No, but it's a sign the economy is doing well enough when a family of 4 is willing to blow over $100 on a meal.

The unemployment rate is 10% not 90% ... there are some families that can go out to dinner ... just because a restaurant had lines one night is not indicative of how well the economy is doing. People blow hundreds of $$$ on cell phone service as well. Does that mean they can afford it at the expense of other necessities and as a result, the ecomony is doing well ? Other people spend hundreds on car lease payments so they can be seeing in their expensive ride. Does that mean the economy is doing well ? Hardly, most of these people don't have a pot to pee in ...

Originally Posted by beckycat
I don't know why they haven't implemented the buy down for mortgages yet as long as people could prove they could pay the new mortgage. It would eliminate vacant houses and foreclosures. In turn, it would stop foreclosures and then property values wouldn't lose their value so rapidly.

Very simple. Greed. The banks are out to rape every last dollar they can out of us.

You have a choice as to whether you want to use the banks. Use your mattress, bury it in your backyard, or go to a credit union. Everyone wants something for nothing. Banks are in the business of making money. If you keep a minimum balance at most banks, fees are waived.

As far as the buy down program goes, most people can't pay the new mortgage as the original reason for the foreclosure still stands - a loss of job. Oh and I forgot about the home equity loans mortgagees took on their original down payment. Should the banks be blamed for Americans' stupidity on over-extending ? What ever happened to saving for a rainy day ?

[StuckHereinFL]

Prosperity center? Perhaps Bill has finally begun inhaling.

[annerk]

Originally Posted by chopchop0

Yeah i saw that in his speech. Was pretty shocked honestly. I guess he didn't think about the epicenters of the foreclosure crisis when he made that statement.

Unfortunately much of the foreclosure crisis was brought on by homebuyers who refused to accept that there was no way they could afford the homes they were buying. I'm not saying the banks, realtors, and appraisers don't share some blame, but no one held a gun to anyone's head when they signed that $300,000 mortgage note when they were making $9 an hour. or were going to have zero savings after closing, or were going to have to forgo saving for retirement and emergencies in order to pay the mortgage. Unfortunately our society has forgotten the meaning of personal responsibility and has become a society of entitled fools.