housing crisis, who really caused it?

[Mac_Attack]

Ferm you're always posting things the Democrats did. Why not something the pubs did to correct it. Oh that's right they did not do anything. Billy Mac

[THEFERMANATOR]

They have tried, but have been overridden by the democratic majority. The main point is the biggest ones pointing fingers and screaming for change are in fact actually more of the same.

[Mac_Attack]

I didn't know the dems had the majority for all those years. Whatever, both parties are to blame and we the tax payers are going to pay. Maybe the pubs can succeed with their plan. Billy Mac

[THEFERMANATOR]

I don't truly support either canidate, but BHO SCARES THE SH!T out of me. Of the 2, McCain is my clear choice. I know much of what is out there on the internet is BS, but BHO has crossed SEVERAL lines. And I for one find it hard to stomach all he has done, and to see how many have fallen for his suaveness. I do agree that we need MASSIVE reform ON BOTH sides of the aisle. It seems as though NONE of the dipsticks in WASHINGTON have a grasp on the public or it's needs anymore.

[charlie_the_tuna]

fact is they both stink but mccain is the lesser of two evils in this case.
if this obama guy would just come out and speak the truth for once, he would at least, have my respect.

"i hate whitey".
"i am muslim".
"i am a racist piece of sh!t".
"i tell you what you want to hear so you will elect me".

[Mac_Attack]

I hate whitey - then he hates half of himself
I am Muslim - then don't tell me about his preacher in Chicago
I am a racist - only race we have here is the race for the presidency
He tells you what you want to hear - I think that's what we hear Friday from both sides

Vote November 4th Billy Mac

[bradford]

Say "NO" to McBama!
www.BobBarr2008.com

[Stillrunning]

Originally Posted by Mac_Attack

I didn't know the dems had the majority for all those years. Whatever, both parties are to blame and we the tax payers are going to pay. Maybe the pubs can succeed with their plan. Billy Mac

Well it all really begain back in the 90's when Clinton called for a mandate (spelling) to make getting a home loan much easier. Their were other things put in place in the 90's which was passed by congress (both parties) to help people obtain loans. It all started rolling in the late 90's these people started getting their loans and in a couple of years had trouble paying their house payment. At the time the housing market was taking off so the people had an easy out by selling their homes instaed of forcloser which is now happening in a soft market. This strong housing market masked the problem because it was so easy for people in trouble to sell their home and even make a profit. Now the market is soft and the people in trouble cannot sell their homes and the banks & mortgage co's are taking the hit. More took place but this was the root of the problem.

Also remember back years ago when the only way most people lost their home was because they lost their job or had a family emergency. Today people are loosing their home and still have the same income as they had when they purchased the home a few years back. Allot also took these interest only type loans and took the money they saved and purchased cars and new toys which they are making payments on and the money should have been saved to pay their loans. Plenty of blame to go around.

[Blue_Runner]

Its sad but the consumers are mostly to blame. If I took out an interest only loan to buy a home or an adjustable rate mortgage I would have KNOWN that the interest rate would be subject to rise. Hence why should I be surprised when it actually does rise and I get forclosed?

Once again people blatently living outside thier means.

My wife and I are both 35 years old. I am a successful Systems Analyst for 11 years now with a BS in Computer Info Systems and Mrs Blue graduated with a BS in business and most recently works as High school business teacher.

Neither of us have ever owned a new car.

We built our first home while in college - I was making $10.30 an hour and she was waiting tables.

My point is there are alot of people in this world who use credit waaaayy too much. If you don't have the money now what makes you think you'll have it in the future? It makes no sense to me.

[bradford]

Originally Posted by Blue_Runner

Its sad but the consumers are mostly to blame. If I took out an interest only loan to buy a home or an adjustable rate mortgage I would have KNOWN that the interest rate would be subject to rise. Hence why should I be surprised when it actually does rise and I get forclosed?

Once again people blatently living outside thier means.

My wife and I are both 35 years old. I am a successful Systems Analyst for 11 years now with a BS in Computer Info Systems and Mrs Blue graduated with a BS in business and most recently works as High school business teacher.

Neither of us have ever owned a new car.

We built our first home while in college - I was making $10.30 an hour and she was waiting tables.

My point is there are alot of people in this world who use credit waaaayy too much. If you don't have the money now what makes you think you'll have it in the future? It makes no sense to me.

Fellas, we are in the presence of pure economic genius.