Can Bush Save Us From the Housing Mess?

Another shocking headline came out of the housing sector today: Delinquent payments on mortgages are now at the highest level since 1986, and some economists are calling this the most severe housing recession ...

[Just An Observer]

Save us????? He created it!

[Gamer]

Damn Bush!!! Muddling in the affairs in the private sector.

He should be impeached!!!!!!!!!!

[Mama-san]

Bush couldn't save us from an attack of wet paper bags!

[Just An Observer]

Mama-san wrote:

Bush couldn't save us from an attack of wet paper bags!

I spit my coffee on that one! LOL!

[mechanic]

I know on this blog it will not do any good to say on this forum but, the president is doing his best, and may do more. He will not sit back and see his work unravel.

[IDIOTA UNOS]

Mama-san wrote:

Bush couldn't save us from an attack of wet paper bags!

You not thinking! It should be fair and just quota system, question where do you draw the line???

[Mama-san]

Just An Observer wrote:

<quoted text>I spit my coffee on that one! LOL!

I feel kinda bad. I try HARD not to bash him....but sometimes...it just overflows!

[Just An Observer]

mechanic wrote:

I know on this blog it will not do any good to say on this forum but, the president is doing his best, and may do more. He will not sit back and see his work unravel.

His work??? His administration is unraveling. He hasn't done anything for the people or this country. You're joking.

[IDIOTA UNOS]

Not good enough, how about those in default!

[Gamer]

IDIOTA UNOS wrote:

Not good enough, how about those in default!

Too bad. Teach them a lesson for the future.

[Mama-san]

IDIOTA UNOS wrote:

<quoted text>
You not thinking! It should be fair and just quota system, question where do you draw the line???

I was making a general observation. I wasn't commenting on the housing market or any other market. Just that if we were attacked by an army of wet paper bags, he couldn't save us from that.

[Eron]

That's right! People (like most) went into these subprime contracts without a thought to the future. their fault. Having said that, the media makes it seem like everyone is fixin' to lose their house. Not true. 94% of Americans (who own housing) are good to go in that arena. They have no trouble paying their mortgage on time.

Gamer wrote:

<quoted text>
Too bad. Teach them a lesson for the future.

[Bitterball]

I don't understand why anything needs to be done. If anyone of the people who bought a hose with an ARM was unaware of what could happen then obviously they weren't smart enough to buy the house in the first place. As a new homeowner (January of this year) I did my research just like anyone else should do when investing a large sum of money. To go willy nilly into anything without first conducting some research is just stupid. No handouts should be given to those who failed themselves by being to stupid to understand what an ARM is and what potentially could happen is the market were to go bad. So what, they lose their house, learn from your mistakes, rebuild your credit, and move on!!(Without a handout) That's what I think is the biggest problem in out nation today, TOO MANY PEOPLE UNWILLING TO WORK TOWARDS WHAT THEY WANT!!

[Just An Observer]

Bitterball wrote:

I don't understand why anything needs to be done. If anyone of the people who bought a hose with an ARM was unaware of what could happen then obviously they weren't smart enough to buy the house in the first place. As a new homeowner (January of this year) I did my research just like anyone else should do when investing a large sum of money. To go willy nilly into anything without first conducting some research is just stupid. No handouts should be given to those who failed themselves by being to stupid to understand what an ARM is and what potentially could happen is the market were to go bad. So what, they lose their house, learn from your mistakes, rebuild your credit, and move on!!(Without a handout) That's what I think is the biggest problem in out nation today, TOO MANY PEOPLE UNWILLING TO WORK TOWARDS WHAT THEY WANT!!

You know, luckily, my spouse and myself, learned about the different types of mortgages before we purchased a home. However, before we knew the difference, we asked the real estate agent what an ARM was, and she replied the obvious, about interest rates fluctuating. She also said this--"you don't have to worry, that hasn't happened in 20 or 30 years, and hardly ever happens anymore these days, anyways." Yes, pal, I remember those words clearly. There's more to this housing market crunch that meets the eye. Real Estate agents were flying high, and counting those commission checks, and that's all they cared about.

[Gamer]

Just An Observer wrote:

<quoted text>You know, luckily, my spouse and myself, learned about the different types of mortgages before we purchased a home. However, before we knew the difference, we asked the real estate agent what an ARM was, and she replied the obvious, about interest rates fluctuating. She also said this--"you don't have to worry, that hasn't happened in 20 or 30 years, and hardly ever happens anymore these days, anyways." Yes, pal, I remember those words clearly. There's more to this housing market crunch that meets the eye. Real Estate agents were flying high, and counting those commission checks, and that's all they cared about.

You actually think that they work to be your friend?

Every salesperson will give you a rosy outlook to make a sale.

As for your quote...it hasn't until the past 2 years. She didn't say "never". She said "hardly"

You as a consumer is responsible for the final product/contract. Why is that so hard to understand?

[bitterball]

Gamer wrote:

<quoted text>
You actually think that they work to be your friend?
Every salesperson will give you a rosy outlook to make a sale.
As for your quote...it hasn't until the past 2 years. She didn't say "never". She said "hardly"
You as a consumer is responsible for the final product/contract. Why is that so hard to understand?

AMEN!! WELL PUT!!!!

[Just An Observer]

Gamer wrote:

<quoted text>
You actually think that they work to be your friend?
Every salesperson will give you a rosy outlook to make a sale.
As for your quote...it hasn't until the past 2 years. She didn't say "never". She said "hardly"
You as a consumer is responsible for the final product/contract. Why is that so hard to understand?

Won't argue with some of your accessment there. They have their interests, and I definitely have mine. I'm skeptical of many things, so I grap my computer and read up on many issues beforehand. I also listen to Suze Orman. She's the consumers' friend! More people should tune into her program and listen, it's a eye-opening experience.

[Gamer]

Just An Observer wrote:

<quoted text>Won't argue with some of your accessment there. They have their interests, and I definitely have mine. I'm skeptical of many things, so I grap my computer and read up on many issues beforehand. I also listen to Suze Orman. She's the consumers' friend! More people should tune into her program and listen, it's a eye-opening experience.

Oh lord!! You are too funny.

And a word of advice. Don't put too much weight into what Orman says. Some advice she gives is flat out wrong.

[Just An Observer]

O.K. folks, I'm otta here. Happy Holidays to all.

[Curt Cogent]

mechanic wrote:

I know on this blog it will not do any good to say on this forum but, the president is doing his best, and may do more. He will not sit back and see his work unravel.

Thanks for your important insight, Pollyanna. Now run along and serve your corporate masters.
Bush isn't going to do anything about the housing crisis except lip service to mollify our TV nation. A lot of important, wealthy people are benefitting from the middle class' willingness to sign renegade mortgages. Stopping this mess would be contrary to the Bush/Plutocratic philosophy: shrink the middle class and solidify power in the upper economic echelons. Americans can always be counted on to surrender their New Deal Reforms but place blame for hardship on nonsense like gay marriage and terrorism.