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The Government's reaction to the housing debacle has been nothing less then hideous.
It is time to let the housing market play itself out. It will be painful but it will pay off long term. All that has happened is prolongation of the pain thanks to our friends on the hill.
I thought we were told things would improve summer and fall.
Oh yea we were told if we passed Obamas Stimulus unemployment would go no higher than 8.5 %.
Oh yea we were told Obama care would save us money and improve health care.
So you are saying the housing mess was not a disaster?
Actually the disaster started circa 2000 with the banks getting the go head from Congress to put people with no income in homes.
Back that up a few years to 1992.
Record foreclosures which was suppose to be stopped with the stimulus creating jobs and helping those in trouble. DID NOT WORK!
Record bankruptcy filings, which the stimulus was suppose to create all those good paying jobs so people would have money to pay their bills. DID NOT WORK!
Record empty homes in many cities. Cities now bulldozing empty homes in record numbers. Thanks Obama and his economic genius team of gurus.
Wait, the dems will find a way to get all those losers who wont work/welfare types into those homes because they deserve to own a home and that number will get all better.
Record homeless people.
All brought to you by a demoratic dunce in the WH and a demoratic controlled and corrupt congress.
If people don't have jobs, they can't buy a home.
If people have bad credit due to defaulting on their CC's, they can't buy a home.
If people are under-employed due to layoffs, they can't buy a home.
Reality is hitting the shores in the land of Da'Nile.
Would you sell a house or extend a mortgage to a person who is unlikely to hold a steady job or earn enough to finance a $200,000-500,000 purchase after meeting subsistence costs (food, clothing)? A large number of Americans do not know whether they will have jobs six months from now let alone 20-30 years from now. If you are self employed or have a Macjob you have no business buying a house.
But, but, but.....Obama said this was "Recovery Summer". He said the economy is getting better. Surely he didn't lie did he?
worse than a lie , i think he actually believed spending 1.5 trillion dollar deficits per year would make things better.
i do not see why we should complain when he takes vacations , on vacation he cant screw the economy up. take a vacation till 2012
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