2007-09-16 04:18:47 · 28 answers · asked by Darth Vader 6 in Politics & Government ➔ Politics
What's really sad is how many Bush supporters have lost their jobs and their homes and their futures and STILL think Bush is great!
So very, very sad,
so very, very unnecessary.
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2007-09-16 04:32:01 · answer #1 · answered by easy_game_101 2 · 2⤊ 5⤋
Government has NOTHING to do with this. Greed on the part of mortgage brokers and the buyers is the reason for the foreclosure rates today.
When a person who makes 12.00 per hour lies on an application and purchases a 400,000.00 home. What do you think is gong to happen. They make interest only payments for 3 to 5 years, hoping that the housing boom will continue. When the bottom began to fall, and their monthly payments went from $1800 per month to $4500 per month, they call foul. Stating they didn't know what they were signing when they took the loan. Then guess what, you should not have signed. They took the gamble to make some money and they lost. Both are to blame and I have no pity for any of them.........
As much as I disagree with many things Bush has done, he had NOTHING to do with this what so ever...........
2007-09-16 04:41:01 · answer #2 · answered by tallerfella 7 · 0⤊ 1⤋
Don't start counting just yet. The numbers will easily reach the hundreds of thousands soon enough. But don't just blame Bush. Blame Congress and the Fed and your local state government who allows these scams to prosper.
I did a quick "Goggle" search and found that over one hundred thousand properties were in a state of foreclosure during the month of August (check the link). That's just the beginning.
2007-09-16 04:33:36 · answer #3 · answered by Anonymous · 0⤊ 0⤋
There is no direct connection. The problem for homeowners is the variable rates that have been rising. Higher interest rates have been a part of the economic policies of the Bush Administration, which like the former Reagan Bush administrations have stretched borrowing to very high limits.
2007-09-16 04:26:15 · answer #4 · answered by fangtaiyang 7 · 2⤊ 1⤋
None!
He has nothing to do with it.
He retained Greenspan for 80% of his presidency , remember , the Clinton guy?
He also cut federal tax's twice that allowed the economy to boom and recover after the Clinton depression and 9-11 attack.
Any problems with housing is due to unscrupulious lenders who loaned mony to un-qualified buyers who are now defaulting on those loans in record numbers.
Two reasons, bad lending practices, and an over abundance of new houses on the market because the housing industry has been so robust and productive for the last 6 years. Simple supply and demand. The supply of new homes is way up so the pool of buyers is low and housing sales has come down.
Simple economics...absolutely nothing to do with George Bush!
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2007-09-16 04:22:16 · answer #5 · answered by Anonymous · 4⤊ 1⤋
None. People have or are losing their homes because of irresponsible lending and deceptive practices by mortgage companies. Ultimately, the people themselves are responsible. If you go into a deal of any kind, there needs to be adequate research to make sure that you can hold up your end of the deal. Buying a home is a serious decision and commitment which has to be handled that way.
Only a Liberal would blame a foreclosure on someone else!
2007-09-16 04:29:52 · answer #6 · answered by Anonymous · 3⤊ 1⤋
You have to put the blame for this one on the people who took a bigger bite than they can chew, If you can't afford the house don't buy the house, it's really as simple as that,
And this is coming from someone who dislikes bush more than just about anyone.
2007-09-16 04:36:06 · answer #7 · answered by crushinator01 5 · 1⤊ 0⤋
RealtyTrac™ (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released year-end data from its 2006 U.S. Foreclosure Market Report, which shows more than 1.2 million foreclosure filings were reported nationwide during the year, up 42 percent from 2005 and a foreclosure rate of one foreclosure filing for every 92 U.S. households.
This is a great money making opportunity guys! Turn those homes into rentals! Invest in the home rentership society.
2007-09-16 04:26:02 · answer #8 · answered by Anonymous · 1⤊ 1⤋
None. The subprime mortgage game has been around for a long time there's just a larger portion of people who are too stupid to read a contract and understand what they are signing.
Sort of like how on YA there's a lot of people who are too dumb to understand what they are asking huh?
2007-09-16 04:41:18 · answer #9 · answered by Anonymous · 1⤊ 0⤋
No presidential candidate is responsible for the mortgage foreclosures!
Republicans HATE industry regulation - and dupe voters to believe corporations and individuals who scammed homeowners are honest.
More voters are now realizing we're not safer with Republicans in Congress or the White House.
Want more tainted items from China? Vote Republican!
2007-09-16 04:34:05 · answer #10 · answered by Anonymous · 0⤊ 1⤋
LOL! Another example of someone trying to fault GW for citizens over-extending themselves.
The answer is none.
The question is why do people like yourself think GW is to blame for literally everything?
Have you ever heard of personal responsibility?
Home ownership in the US is the highest it's been in history, therefore, it is obvious that foreclosures will increase as well.
No one forced these people to sign their lives away.
2007-09-16 04:39:06 · answer #11 · answered by dave b 6 · 0⤊ 0⤋