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MenInBrown
Guest
OMG i give up...what are you talking about?
Mitt's really bad day
- Thread starter roadrunner2012
- Start date
OMG i give up...what are you talking about?
M
MenInBrown
Guest
What state do you live in?
Illinois. You?
av8torntn
Well-Known Member
confusion
M
MenInBrown
Guest
oh that explains it.
What Romney is saying is that he wants to restore the very BUSH policies that failed... TAX CUTS for the rich, Unregulated wall street banks, wars in the middle east and healthcare taken away from millions of people.
Thats what HE HAS SAID. Very clear, no mistakes.
Pretty simple stuff. While no one wants to re create a housing bubble, fixing the one we still have is the problem. We still have loans written under BUSH that are coming due, and those loans cant be re financed, sold, modified or reset. These will all fail in the months to come if there isnt another program to fix it before they blow up.
The BUSH housing bubble isnt over yet. There are TONS of loans still waiting for the explosion.
Romney offers no solution for this other than to say, let the homes foreclose. Sounds like a great plan, unless your the homeowner.
Peace
TOS
There are several types of loans coming up. Yes, commercial real estate loans (10 year interest only) will be crashing next year along with the 10 yr and 12 year interest only home loans written after 2003.
Those loans were written for the highest amounts of money.. 700K to 1.5 million. Cities like San Diego still have the highest percentage of interest only loans still to burst. The median price of home sold in 2004 in San Diego was 950K and those loans are about to blow up.
Home prices are NO WHERE near those prices and home owners cant refi, sell, modify or take advantage of low interest rats without the help of the goverment under HARP III that hopefully is coming shortly.
The BUSH home ownership society program was a giant failure on many fronts and we have yet to get through it.
Peace
TOS
Mitt's bad day turns into another week. ER is healthcare, 14% is a good tax rate for rich folk, and airplanes should have roll down windows.
The guy is a genius, and that's just the low fruit he left hanging.
The guy is a genius, and that's just the low fruit he left hanging.
moreluck
golden ticket member
Of course, youfail to mention that he paid tax on his money once already!!
Buddybrown
Well-Known Member
Both parties are to blame. Clinton began the process of forcing low mortgage underwriting standards, Bush continued and enhanced it.
The Bush Hangover
What got us into this mess...and what can get us out.
http://www.weeklystandard.com/articles/bush-hangover_652402.html
Beginning in the mid-1990s, under the grandiose title “The National Homeownership Strategy: Partners in the American Dream,” the Clinton administration used the “affordable housing goals” that Congress had imposed on Fannie Mae and Freddie Mac to increase the availability of mortgage credit to low-income borrowers. It also loosened the standards under the Community Reinvestment Act to pull insured depository institutions further into the low-income lending program.
http://www.businessweek.com/the_thread/hotproperty/archives/2008/02/clintons_drive.htmlBill
Clinton's drive to increase homeownership went way too far
Add President Clinton to the long list of people who deserve a share of the blame for the housing bubble and bust. A recently re-exposed document shows that his administration went to ridiculous lengths to increase the national homeownership rate.
It promoted paper-thin downpayments and pushed for ways to get lenders to give mortgage loans to first-time buyers with shaky financing and incomes. It’s clear now that the erosion of lending standards pushed prices up by increasing demand, and later led to waves of defaults by people who never should have bought a home in the first place.
President Bush continued the practices because they dovetailed with his Ownership Society goals, and of course Congress was strongly behind the push. But Clinton and his administration must shoulder some of the blame.
File:National Homeownership Strategy.pdf https://secure.wikimedia.org/wikipedia/commons/wiki/File:National_Homeownership_Strategy.pdf
How do you figure?
Was that in his 2009 returns that he will never show because he took amnesty for tax evasion?
MrFedEx
Engorged Member
Probably. You just don't understand. He's a JOB CREATOR!! See?
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MenInBrown
Guest
Bush should not have continued what Clinton started.
Catatonic
Nine Lives
M
MenInBrown
Guest
14% is the same capital gains tax rate you pay...are you rich? Why would you want the top marginal income tax rate dropped from 35% to 14%??? Did you not know everyone pays the same capital gains tax?
Isnt that fair?
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MenInBrown
Guest
Catatonic
Nine Lives
You have to make choices
Republicans want individuals in their own houses ...
Democrats wants families to be in Government housing.
Again, the failure to understand the realities even when presented with facts and videos, you still make these ridiculous claims. IT WAS BUSH THAT SAID HE WAS INSTRUCTING SECTION 8 TO PAY THE MORTGAGES OF LOW INCOME BLACK HOMEOWNERS instead of paying THEIR RENT.
I posted a video where he CLEARLY says this, and posted the WHITE HOUSE MEMORANDUM where it is repeated, and yet you claim its the democrats who want people in goverment homes??
Please? are you just bored?
Peace
TOS
