Comments on: Why Obama Wants High Home Prices

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By: HS

HS — Thu, 04 Feb 2010 19:33:39 +0000

They oppose it because the banks bribe them to oppose it.

By: Anonymous

Anonymous — Thu, 04 Feb 2010 19:21:02 +0000

“Or, more simply, he could have announced support for bankruptcy cram-downs, allowing judges to reduce mortgage debt.”

I believe he has supported “cramdown.”

But it does not have the votes in the Senate – every Republican and several Democrats oppose it.

http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=1&vote=00174

By: Anonymous

Anonymous — Thu, 04 Feb 2010 07:34:05 +0000

if Obama had said that the government was working to keep our banking system solvent while the housing market continues its natural market correction, millions of underwater homeowners might decide it’s not worth trying to fight anymore and walk away. mira mesa ca

By: Alan Barker

Alan Barker — Mon, 01 Feb 2010 17:32:13 +0000

That statement just shows how Obama just doesn’t get it in terms of economic data. He somehow thinks that government policy can dictate how things are, not sound economics. It absolutely is the worlds biggest ponzi scheme, and like all ponzi schemes it will eventually collapse…

He also stated over and over that we need to make credit more accessible. Really, we need people to learn to live within their means and actually save money before they spend.

By: fukerredup

fukerredup — Mon, 01 Feb 2010 04:25:52 +0000

Amen to that. I am a fool to have been saving 10′s of thousands in the bank and maxing my 401k and 529′s in hope there was light ar the end of this inflated tunnel. Now I have to listen to this nonsense? Obama is NOT stupid, he just knows most of the country is…therefore he feels a need to calm hysteria. I wish he was above this.

By: Dr.Strangelove

Dr.Strangelove — Mon, 01 Feb 2010 03:15:19 +0000

Same here. I was trying to expose the insanity during the bubble run-up to others at work, and with friends and family. Fell on deaf ears. Everyone thought they were going to make a killing. Why listen to me, a contrarian and “stupid renter.” My Secretary defaulted and lost her home last year. She just looked at me and said, “you were right, bet you’re glad you waited.” Tried to convince a good friend not to buy in 06′. He went ahead and paid 420K (at the urging of his fiance’) for a 3/2 bungalow that they’re now upside down on for…hold your hats…220K!!

By: wcinvest

wcinvest — Mon, 01 Feb 2010 01:48:58 +0000

The irresponsible home speculators should not be bailed out! If you couldn’t put 20-30% down *and* have a substantially rainy day fund with an affordable mortgage payment, as far as I am concerned you were a speculator! It is ridiculous for judges to be given cram down powers. The government and –yes banks — shouldn’t be forced to pay a penny to bail out homeowners. **** that. Let them lose their homes. That is the ONLY way folks learn. And more importantly, it is the fair thing to do for the *millions* of renters and for the folks who were prudent enough to only buy homes that they could afford.

Local governments should tighten their damn belts and eliminate the massive amount of fraud and ridiculous retirement benefits for way too many government employees.. I realized how ****** up California was when they couldn’t even run a balanced budget without bonds when home prices were inflated by about 100%!

By: Ungrateful Black Man

Ungrateful Black Man — Mon, 01 Feb 2010 01:12:16 +0000

Wow…just wow!

You are the one with the brain the size of an olive. I’m a 10th generation black American and I don’t owe you squat. Apparently, “smart white” people have clearly never graced your presence either.