They are now saying that next year foreclosures will be at an all time high. And its bush's Fault. What kind of idiocy is that. There are a number of reasons why, #1 we just went through 20 years of a mega housing boom, the last 10 years being phenomenal. It only makes sense that with the rise in home ownership eventually you would have a rise in forecloseurs. 2. Also, too many Americans bought houses they could not afford. Add on top of that all the debt they piled up buying even more stuff they could not afford, and you've got a recipe for a royal financial mess.
2006-12-21 04:59:32 · 7 answers · asked by Anonymous in Politics & Government ➔ Other - Politics & Government
I love you angii!!!
2006-12-21 05:33:01 · update #1
I love you Angi!!!
2006-12-21 05:33:21 · update #2
Right on Ann coulte...
2006-12-21 05:41:56 · update #3
I'm sure you know that President Bush is to blame from everything from global warming to acne..why should this be any different. Of course we can't blame people who buy a home for $500,000 with an income of $70,000/gross yr. After all, they can't calculate the complicated math involved because the school system is so bad. And that's the President's fault too. ;)
2006-12-21 05:13:02 · answer #1 · answered by Anji 4 · 1⤊ 0⤋
I agree. there have also been a lot of "Zero Down" loans and special Internet mortgages. They all basically save you money to begin with, and then make it back after 3 or 4 years into the mortgage. So a lot of people got in over their heads.
I'm not a fan of Bush, but I don't think he has really anything to do with the foreclosing increase.
2006-12-21 13:06:54 · answer #2 · answered by Take it from Toby 7 · 0⤊ 0⤋
Bush to Blame? next thing you know they will be accusing him of being gay. you stated it so correctly, Americans are thousands of dollars in credit card debt. and they are well know for buying things that they clearly cannot afford. sheesh! If you find yourself complaing about taxes and the economy then there is no reason why you should be buying a BMW and eating at the finest restaurants. burger kind and Kia automobiles for you!!!!!!!!
2006-12-21 15:37:37 · answer #3 · answered by Anonymous · 1⤊ 0⤋
Its the same set of brainiacs who don't want the fair tax or the partial privatization of SS. Because they never took the initiative to learn basic economics they have no clue how to handle their finances. The media knows anything they tell them will be taken for truth and guess what...... another problem is because of Bush.. It would be funny but its too scary to laugh at....
2006-12-21 14:35:13 · answer #4 · answered by bereal1 6 · 1⤊ 0⤋
Liberals never want to take any personal responsibility do they? Who but the individual who took on an interest only mortgage in an overinflated housing market should be to blame?
2006-12-21 13:40:07 · answer #5 · answered by MaryCheneysAccessory 6 · 1⤊ 0⤋
reporters like hannity and kudlow have been crediting bush with responsibility for the all time high home ownership in america,so if he is responsible when its going good he is certainly still responsible when its going bad.
2006-12-21 13:55:53 · answer #6 · answered by sasuke 4 · 0⤊ 1⤋
Bush is to blame because he needs to put an end to these foreclosures. If he doesnt we shall all protest even if we dont have a permit. THE HELL WITH BUSH! WE NEED A NEW PRESIDENT! HE IS GETTING TOO OLD TO REALIZE WHAT'S GOING ON!!!!!!!!! LOL=(*
2006-12-21 13:05:28 · answer #7 · answered by makalika i 2 · 0⤊ 3⤋