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Newt Gingrich Announces His Candidacy
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<blockquote data-quote="The Other Side" data-source="post: 837587" data-attributes="member: 17969"><p>Good points. You are correct. Housing and the "home ownershp" has been an election scam for decades. I agree with you here. Under clinton, yes he was pushing for more home ownership, but he did not do the things that Bush did to make it a disaster.</p><p> </p><p>In 2002, bush created "the home ownership society" where all the groundwork for the housing bubble was created. Now, I dont blame him 100% for the collapse, just for the creation, as greed took hold of the banks, the mortgage writers, the appraisers, the real estate salespeople , developers and the general buying public.</p><p> </p><p>Bush had a plan to add 7 million NEW construction homes to the market, 5.5 million were suppose to be for low income minorities and "recently arrived immigrants" who work for cash. (HIS WORDS, NOT MINE)</p><p> </p><p>Bush said he was going to remove the "barriers" to home ownership, like downpayments, low interest only loans, teaser rates, and the best of all "the downpayment assistance act" where the US taxpayers would give 40,000 to low income minorities for downpayments. ( whos the socialist?)</p><p> </p><p>Bush instructed the industry to remove "regular qualifications" for applications, like paystubss, W2's or business records. </p><p> </p><p>He may have only been doing what has been done in the past, but he enhanced the process creating the biggest economic disaster since the great depression.</p><p> </p><p>Today, MILLIONS of homes sit empty, blocks and blocks of empty foreclosed homes are in california and cannot be sold.</p><p> </p><p>We have to place blame where blame is due.</p><p> </p><p>Thanks for taking the time to view the info.</p><p> </p><p>Peace.</p></blockquote><p></p>
[QUOTE="The Other Side, post: 837587, member: 17969"] Good points. You are correct. Housing and the "home ownershp" has been an election scam for decades. I agree with you here. Under clinton, yes he was pushing for more home ownership, but he did not do the things that Bush did to make it a disaster. In 2002, bush created "the home ownership society" where all the groundwork for the housing bubble was created. Now, I dont blame him 100% for the collapse, just for the creation, as greed took hold of the banks, the mortgage writers, the appraisers, the real estate salespeople , developers and the general buying public. Bush had a plan to add 7 million NEW construction homes to the market, 5.5 million were suppose to be for low income minorities and "recently arrived immigrants" who work for cash. (HIS WORDS, NOT MINE) Bush said he was going to remove the "barriers" to home ownership, like downpayments, low interest only loans, teaser rates, and the best of all "the downpayment assistance act" where the US taxpayers would give 40,000 to low income minorities for downpayments. ( whos the socialist?) Bush instructed the industry to remove "regular qualifications" for applications, like paystubss, W2's or business records. He may have only been doing what has been done in the past, but he enhanced the process creating the biggest economic disaster since the great depression. Today, MILLIONS of homes sit empty, blocks and blocks of empty foreclosed homes are in california and cannot be sold. We have to place blame where blame is due. Thanks for taking the time to view the info. Peace. [/QUOTE]
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