IS THE REDS STATE ECONOMY NOT AS STRONG AS THE YA POSTERS ARE CLAIMING???
2006-12-22 10:51:47 · 15 answers · asked by Anonymous in Politics & Government ➔ Politics
This has been all over the Business News this week.
Nightly Business Forbes WallStreet Week etc.
2006-12-22 10:56:35 · update #1
I constantly hear that all libs are on welfare
So Only Redsters would go into recievership.
2006-12-22 10:59:22 · update #2
I didn't know peoples political affiliation was any where on a mortgage or tax records for that matter. Typical liberal gibberish, making it up as you go along? Perhaps the 20% of homeowners is correct, but aligning it with a political party is crap and you know it. Then again, perhaps you don't.
2006-12-22 10:56:14 · answer #1 · answered by Anonymous · 2⤊ 2⤋
Because the housing prices have gone so high that people are using creative financing to get mortgages. The bankers exploit these people so that their bottom line grows. Additionally, when prices are artificially high, then real estate taxes also increase and when the insurance, taxes, and interest on the loan are all put together, most people are living on the extreme edge of affordability. It won't take more than a small loss of income to put them over the edge. As our income drops and we lose more jobs, there will be no money to pay for mortgages and all the costs. Think about it. The gangsters always held their neighborhoods hostage with rents and jobs and money. Now our government and corporations are the gangsters.
2006-12-22 18:57:27 · answer #2 · answered by MH/Citizens Protecting Rights! 5 · 1⤊ 0⤋
The hidden danger we do not hear about. Our economy is NOT as strong as some people would lead others to believe. Home foreclosures are going up along with personal debt. It is now much harder for an individual to claim bankruptcy thanks to big business. I'm going to venture a guess and say in another year our country will be in big trouble. The average American has been under attack for years now and just like the stock market the lagging indicators are starting to catch us. What's going to happen when interest rates hit ten or twelve percent?
2006-12-22 19:00:03 · answer #3 · answered by Anonymous · 1⤊ 0⤋
because too many people took advantage of the exotic mortgages the banks offered in the past few years with low interest rates and 30 to 40 years amortization of mortgage. The enabled people to buy homes which normally they couldn't afford. Now the economy is slowing down, interest are climbing and so is the mortgage payments. Placing these people in a difficult predicament.
2006-12-22 18:58:05 · answer #4 · answered by Curious 2 · 2⤊ 0⤋
I guess the bumper sticker on the 92 Yugo running on two spare tires and held together with black and gray duck tape would help explain things. Not all Neocons are rich, contrary to popular belief. Your Bush Neos typically fit into two categories, rich or upper middle class: and poor white trash. And that's no offense to either group. The bumper sticker said "Bush-Cheney 04". I have seen many of these on cars that wouldn't pass a safety test in a third world country. He appeals to the poor with his down home country "charm", and to the rich with his handouts and tax breaks at the expense of the rest of the country.
2006-12-22 19:00:10 · answer #5 · answered by Kwan Kong 5 · 1⤊ 0⤋
I haven't heard this. I don't think it has to do with neocons. There was too much speculation in the housing market. People bought homes for hugely inflated prices. Now that the market is levelling out people are stuck with mortgages that are higher than their home is actually worth. The real estate bubble has burst.
2006-12-22 18:58:17 · answer #6 · answered by wyldfyr 7 · 0⤊ 0⤋
Well it is not just neocons, it is anyone who bought more house than they could afford due to the mortgages that were being offered.
Anyone with half a brain knows the economy is not as strong as is being claimed.
2006-12-22 19:00:10 · answer #7 · answered by Perplexed 7 · 1⤊ 0⤋
Our newspaper has an average of 6 and up to 13 sheriff sales a week of homes. This is happening every week while the rich get richer and the cost of living is going out of control.
2006-12-22 18:55:08 · answer #8 · answered by jackie 6 · 1⤊ 0⤋
Of course! Our whole government is based off of lies and deception, The majority of American people will just believe what theyre told. I was watching a documentary on the Net, First they asked random people to point out North Korea Iran or Iraq out on a map and the people had no ofucking clue where it was@! Second they asked people what date 9/11 happened on and quite a few people had no ******* clue how sad is that?
2006-12-22 18:56:53 · answer #9 · answered by Anonymous · 0⤊ 0⤋
then lets see how thet feel about welfare
2006-12-22 18:54:18 · answer #10 · answered by Unfrozen Caveman 6 · 2⤊ 0⤋