brywool wrote:MCM wrote:brywool wrote:MCM wrote:brywool wrote:"Give everyone the American Dream" is much better than "Give the rich more money and put the middle class and poor on the street". I'd much rather live in the first version than the second, but I'm picking out a nice refrigerator box for my family and I to live in as I will bet that McCain will win because Americans are ready for another 4 years of the same policies.
Giving everyone the "American Dream" (as in home ownership) is what has our economy in the lovely mess that we now have.
Giving everyone the "American Dream" is also why I and many others in my profession are now on the unemployment rolls compounding the problem. My disposable income doesn't go to the lawn guy, the department store, the shoe store, the bookstore, the airlines, the rental cars, the restaurants, ticketmaster, or sadly CD Warehouse any longer as that income no longer exists.
The American Dream is why our decedents came to America. It's what is GOOD about America, not what's bad. How did that ideal get turned into something Monstrous? Because many abused a CORRUPTED system is why we're in the mess we're in now. That doesn't mean that it was a bad idea. It means that the system got corrupted and everybody stood by and watched. Now we've rewarded the Fu**ers that corrupted it by bailing them out. Shoulda NEVER happened. Your disposable income- I had a lot more of it under the Dems than the Reps. I know who I WON'T be voting for.
Wait, yer right- The old, the handicapped, kids, the mentally disabled, people out of work due to the policies of THIS administration, put those assholes on the street where they belong! They're blocking my view of my yacht! Why try and help anybody at all?
I'm not a political expert and don't claim to be, but I just know that for the last 8 years, things've sucked and it's time for a change. Don't mean any offense at all here, btw.
No offense taken!! No, the American Dream is not a bad thing.. it's the "giving" of it which has resulted in the economic issues that we now have. Just because you want a mortgage doesn't mean you should get one. This is the corruption that you speak of. Homeownership is not a bad idea, but it is a good idea that got out of hand. Yes, things have sucked and I'm not sure that a government bailout is the best thing (but remember, said bailout is
supposedly going to help some of these people keep their homes, homes that they couldn't afford to begin with), but this whole ball was rolling a lot longer than just the last 8 years. The relaxation of lending practices has been going on long before our present administration.
The way the market has been the past few years, how could ANYONE afford a home without all the "programs" out there? Not saying that peeps who can't afford it shouldn't have one, but the fact is, home prices (at least here) are ridiculously high, so not sure how anyone could afford it.
I don't know if government programs have as much to do with the mortgage crisis as does the advent of the subprime mortgage loan. I can't speak to that except by opinion. (I actually purchased my home on a county based program that allowed a lesser down payment and no PMI), some argue that the Community ReInvestment Act is a contributor, but I don't think those types of loans have the percentage of default and foreclosure as your typical subprime mortgage. There is a great difference between a "program" subsidised by a local, state or federal entity and a subprime loan. As for the increase in home prices and values, that is directly related to the ease of getting a mortgage thru the subprime market, simply supply and demand. Anyone with a 300 credit score six months out of bankruptcy and no money in the bank can get a mortgage so there were more and more people buying which drives the prices up.
Nothing we can do now but wait it out and hope for the best for our 401k's.
