Real estate problem belongs to Bush and GOP

[Fresh_Start]

They pushed "no money down" mortgage loans in order to increase home ownership.
They got what they asked for.

http://www.usatoday.com/money/perfi/housing/2004-01-20-fha_x.htm

[fasttense]

1. It's the gift of deregulation and "free market" pushers.

The gifts of deregulation and "free market" economies is poisoned food, toxic chemical covered baby toys, increased pollution, a debt ridden middle class, extreme unemployment and eventually all the money of the country in a few corporate coffers. Let's cheer for Friedman and his never ending destruction of America. I hope you were lucky enough to be born into a few uber rich families, otherwise you are going down with the ship.

[leftyladyfrommo]

2. Most bankers are Republicans.

And it was their fault. Greed, greed and more greed. Not a pretty picture.

[Fresh_Start]

3. GOP math: homeowners vote GOP so more homeowners

assures GOP dominance for the future.

Another miscalculation by the team that can't shoot straight.

[elizfeelinggreat]

5. is that really true?

I don't recall hearing that before. Do you have any more information on it or is it something the GOP likes to spread around (like all military are republicans) ?

[Fresh_Start]

6. yes its true

Younger, less affluent more likely to be renters and more likely to vote Dem.

Older, more suburban/rural more likely to be homeowners and more likely to vote GOP.

[fed-up]

4. "President Bush will ask Congress for authority to eliminate the down-payment requirement for FHA..

missed those stories as I was working on a GMO Free campaign-thanks

In a bid to boost minority homeownership, President Bush will ask Congress for authority to eliminate the down-payment requirement for Federal Housing Administration loans.

In announcing the plan Monday at a home builders show in Las Vegas, Federal Housing Commissioner John Weicher called the proposal the "most significant FHA initiative in more than a decade." It would lead to 150,000 first-time owners annually, he said.

Nothing-down options are available on the private mortgage market, but, in general, they require the borrower to have pristine credit. Bush's proposed change would extend the nothing-down option to borrowers with blemished credit.


snip...

The most recent government figures show a national home ownership rate of 68.4%, the highest ever. But less than half of black and Latino householders own the home in which they live. Bush has a goal of 5.5 million new minority homeowners this decade.