<quoted text>The housing market has come back some in markets like Nevada and Florida, but it will still take 10 years for it to recover, and that's if we don't have any hiccups along the way.
They reminds me, didn't Obama promise to go after the people that were responsible for the illegal lending practices that were used to extract billions of dollars from the American People?
Watch out for the "hiccups" that are possibly coming thanks to Obama.
The Obama administration is engaged in a broad push to make more home loans available to people with weaker credit, an effort that officials say will help power the economic recovery but that skeptics say could open the door to the risky lending that caused the housing crash in the first place. President Obama’s economic advisers and outside experts say the nation’s much-celebrated housing rebound is leaving too many people behind, including young people looking to buy their first homes and individuals with credit records weakened by the recession.
In response, administration officials say they are working to get banks to lend to a wider range of borrowers by taking advantage of taxpayer-backed programs, including those offered by the Federal Housing Administration that insure home loans against default. Housing officials are urging the Justice Department to provide assurances to banks, which have become increasingly cautious, that they will not face legal or financial recriminations if they make loans to riskier borrowers who meet government standards but later default.
Yes he did make that promise but later found out it was Bill Clinton and the Democrats that started that snowball and he needed their help to push his agenda so like everything else that made common sense he pushed that promise aside and is now actively promoting that same nonsense again. I've already posted the proof that the Democrats pressured the lenders to make those ridiculous sub-prime loans so I will let you Google it if you are not aware of it.
Since I am a home builder by trade, if Obama manages to start that all over again, I'm in position to build a lot of houses and do not need a bank to get it done.