Davidlet’s talk about the bailout. it’s just more socialism.
the interest rate was low. people bought homes. including ME. A lot of people got adjustable rates on the interest rates for their mortgages.
i didn’t. i got a fixed rate. because it’s the smart thing to do.
shit tons o people got the adjustable rate
shit tons o people got the fixed rate.
the prime interest rate moved. people with an adjustable rate got adjusted. O MY GOD! my rate went up? i need federal relief too.
or really. i just want to be treated equally by my government. i’m not a citizen?
the crux of what is happening is that people who made poor choices are now being given my money. face it. the tax relief bailout is coming from guess where! taxes. and who pays taxes? the employed working class.
so. because someone is stupid, i am obligated to pay them?
this is just a typical socialist redistribution of wealth by the government aimed at buying the votes of the poor.
the effect? bigger govt budget. we’re paying WAY over what the we make already. now, not just a corp bailout, but a socialist handout to boot.
and the kicker? the interest rates are back down to where they were before the bailout was needed. ie, the interest rate is the same or lower than when these poor banking victims (with every bit of sarcasm i can muster) bought their houses.
isn’t that just rich? their payments are lower now than when they bought their houses, so i have to pay them.
i want equal treatment. give me some money too.
No kidding. People who make less money than my husband and I bought houses for twice what we paid for ours…and now that they can’t pay the mortgage society is supposed to feel sorry for them and how they’ve been victimized?
Pass.
Amen! And the funny thing is that many of these people are trying to price their homes to attain a huge profit for themselves (I’m house shopping in anticipation of returning to the States). Many places we’re looking at are asking hundreds of thousands more than they paid in late 2004 and early 2005! As if the housing bubble never burst. Yet they are facing the balloon and MUST sell their house. (And in a few cases, they have already moved and are paying TWO mortgages, yet refuse to lower their ask price despite having been on the market without sale for over 6 months….)
So all these single family houses in the DC area are up in the $500k region and higher (even houses that are as old as Mlah) — but the sales in the past three months show that the “real” price is closer to $350k!! Good for me. So sorry you bought a bad mortgage!
And Congress is now going to give me a $7k tax break to buy one of these houses whose owners are in distress. Mlah, I’m conflicted. Should I rejoice at the “windfall” or decry the socialistic government interference?
McCain flip-flopped on this. First he was in agreement with you, but now he’s a “socialist”:
http://www.thecarpetbaggerreport.com/archives/15176.html
Here’s his whole list of flip-flops so far:
http://www.thecarpetbaggerreport.com/archives/15227.html
Gus, “flip-flops” as a voting issue are sooo 2004!