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Why should the govt come in and help people that bought houses with no money down that they knew they couldnt afford? Housing prices have been artificially high , and now that they are starting to come down to an affordable range Bush is helping the people that kept prices to high.

2007-12-12 12:38:58 · 7 answers · asked by Anonymous in Business & Finance Renting & Real Estate

7 answers

No I am not furious I am only angry that it took this long for him to step in and do something. You cannot just blame consumers. They were in some cases LIED to by these mortgage companies to get them to take out these outrageous loans. The biggest problem is the ARM loans coming due and now no banks will refinance them. My hope is Bush will enact the 5 year freeze on arms and stop all these foreclosures.

Remember our entire economy revolves around housing and real estate. If we go into another recission because of the housing market it will affect EVERYONE.

2007-12-12 13:22:07 · answer #1 · answered by Kay 3 · 1 0

These people were also taken advantage of by the companies that made the loans. Under the circumstances, I don't object to the government helping certain people (less than 15%?) affected by this situation.

2007-12-12 12:44:47 · answer #2 · answered by Anonymous · 1 1

The reason he is helping is because he has an intrest in our whole economy. When people lose houses the whole economy is affected not just the people themselves.

BTW...I'm not a fan of Bush, but if you are going to be angry with him then you should find something else to be angry about.

2007-12-12 12:42:31 · answer #3 · answered by paganmom 6 · 1 2

I'm not furious about it. I do not like it, but I DO understand the reasons for which it was put into place. Unchecked, the continuation of mass amounts of foreclosures may well have sent the national economy into a full recession.

2007-12-12 12:50:44 · answer #4 · answered by acermill 7 · 1 2

Well I agree with you about the unfairness, but it may be whats best for the overall economy of our country. Remember its not his fault the country is in this position, he didn't write the loans. He is just trying to help. And if you think he is the one who came up with this idea, or the only one backing it think again. I am sure a panel of "experts" thought of this.

2007-12-12 12:46:50 · answer #5 · answered by frankie b 5 · 1 2

*sigh* I've grown tired of questioning Bush.

2007-12-12 12:42:06 · answer #6 · answered by Anonymous · 0 1

No.Your the only one.

2007-12-12 12:42:42 · answer #7 · answered by Anonymous · 1 0

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