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I'm sorry, but when you start your argument by raising the issue of the Community Redevelopment Agency, whose very job was to provide credit to underserved communities, I just naturally thought we down that well traveled low income home buyer road.
Do you even know what the Community ReinvestmentAct is about? Have you read the revisions - especially the ones in the 90s?
Of course it worked. Only the wealthy could come up with the down payment. Everybody else rented.
I did it in 1989 - married, with 2 kids, and a GROSS annual income of $22,000 and no benefits.
But hey, yeah, I suppose I was one of those "privileged wealthy" folks you sneer at.
That said, are we in better shape - regarding the nation's housing situation - than we were 30 years ago? Hmmmm... Let me think about THAT one for awhile.
Not so much the swimming pools, but people would have had to be insane not to have taken out a home equity line (Reagan forced that issue in 1986) and even more insane not to do at least one refi as market rates fell at least a percentage point below the rate they were currently paying. To not do so would have been walking away from free money. I don't know of any CFP who has ever advised clients to walk away from free money.
Slowed down? Is that like what an airplane does when it flies into the side of a mountain?
I know a good number of idiots, and what they tell me is that policy had nothing to do with it, that if the cowboy capitalists had given even a little thought to what they were doing, and if regulators had come to think for a moment that one of the things they are actually supposed to do is regulate, then none of this ever would have needed to happen. And when I ask the really smart people that I know, they say the very same thing. Then they tell me that because things were left to get so bad, only huge interventions can now have any offsetting effect at all, and by huge they mean of a level that nobody else but a government can afford...
Obviously, you're another liberal who has no clue what the CRA was and is, and no clue regarding fiscal responsibility - both personal and corporate.
But hey, let's keep pushing bad mortgage loans on stupid people. It has been working JUST GREAT these past 10 years, hasn't it?
On the other hand, look on the bright side: This housing crisis allows those of us who were NOT stupid enough to buy overpriced homes an EXCELLENT investment opportunity! In fact, just yesterday I looked at a house with a tax-assessed valuation of $102,500 that I'm going to be able to buy for $30,000. And when the market turns around in a couple years... BINGO!
If things keep going as they are republicans won't even need to try to take over congress in 2010... or at least a strong independent force might appear. If this is the last of it the party will need to get in line. Steele provides decent leadership and not a far right wing idealism. Some compromise on a few key conflicts will leave them in a very good position depending on the candidates that run.
Maybe a true third party will peak it's head out as a possibility with what (so far) appears to be more of the same. Either that or let Obama actually do his job and toss Reid and Pelosi. I think I would be optimistic either way there.
If things keep going as they are republicans won't even need to try to take over congress in 2010... or at least a strong independent force might appear. If this is the last of it the party will need to get in line. Steele provides decent leadership and not a far right wing idealism. Some compromise on a few key conflicts will leave them in a very good position depending on the candidates that run.
Maybe a true third party will peak it's head out as a possibility with what (so far) appears to be more of the same. Either that or let Obama actually do his job and toss Reid and Pelosi. I think I would be optimistic either way there.
That would be fantastic, but what do you suppose is the likelihood?
you are a perfect example of what the OP was talking about. If you think we dems are so bad, why do you lower yourself below our level?
Nice try.
Got anything of an adult level to add?
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