San Diego Housing Bubble News and Analysis

Thanks for posting. I think its high time the voices on the other side of this issue are heard.

Below is my comment for our congressional leaders;

This will only continue to artificially inflate the bubble markets. I urge our Congress to act RESPONSIBILY. Do not push through legislation that bails out wreckless investors, instead look at the real issues at hand and fix these loopholes in our system that allows the big guy to take advantage of the average citizen; Derivative market that should never have happened, predatory lenders with unscrupulous tactics and programs, loose lending standards, and an entire system of buying and selling real estate where the term 'buyer's agent' has little meaning (conflict of interest is built into our system as agents only are rewarded by pushing buyers to higher prices-thus higher commission). I have heard here in California alot of the foreclosures happening are not in fact true hardship cases. In fact our system of Foreclosure allows people to just simply walk away from their home if they are upside down on their mortgage. These irresponsible homeowners are taking advantage of the many loopholes in the system by simply walking, buying another home at a reduced price (as prices have come down a bit), all this before anything has been noticed by the banks and put on their credit. These are the role model citizens you are proposing to bailout? How about the millions of renting constituants that have played the game the ethical and right way and continue to try and save to afford a home, while that dream just keeps getting pushed further and further away as astronomical home prices continue to be inflated? This is affecting my generation X of being able to afford a decent lifestyle as we start our families. It's time to stand up and be heard, as this bailout helps the few on our hard earned tax paying dollar! Please let this bubble burst and the market dictate the price of a home that is back in line with incomes!

I'm sensing that everyone feels Congress is driving the boat. "Stop the Mortgage Bailout" and "Angry Renter" both focus on the Congress plans, not the White House plan that has lenders write down loans to 90-97% of the home's current value.

That is every bit as much a bailout as what Congress is proposing!

AngryRenter.com is a project of FreedomWorks

http://www.angryrenter.com/about.php

which claims it's not non-partisan, but like all right-wing think tanks, actually is pushing a hard right agenda. FreedomWorks is chaired by none other than Dick Armey, a champion of Reaganomics.

FreedomWorks has a very simple mission:

"FreedomWorks fights for lower taxes, less government and more economic freedom for all Americans."

http://www.freedomworks.org/know/mission...

This by definition is a right-wing libertarian economic point of view.

In conclusion, be sure to focus on the issues that are important to you. Don't blindly follow a perspective that may be biased. If you believe in the right-wing libertarian point of view, no one can stop you. But if you don't, always question the source and the motivation of the party delivering the message.

AngryRenter.com is a project of FreedomWorks Ok so what? I wouldn't care if Angelo Mozilo was sponsor as long as I agreed with the point of view.

I believe your post is oriented towards trying to dissuade people from signing the petition. Jason are you saying that in this instance you are actually for any of the proposals being floated? If so you are probably posting on the wrong site, unless you have facts to back up why.

Being against bailouts is neither right nor left wing. Attempting to use partisan sounding rhetoric won't change that.

Josh

Josh,

I'm only pointing out to people who are not of the economic libertarian persuasion to base their decisions on the issues and not take an agenda-based site for face value.

But you are correct! Being against bailouts is simply that! You have chosen your position on that particular issue! For that, I support you. I am neither in favor of or against any particular bailout without taking the time and effort to review the consequences of any given proposal.

In this case, I believe a lot of the previous market regulation needs to be reinstated to bring stability back to the financial system. I admit, I'm not a guy who believes a free market is good for everything and anything.

So again, I'm only warning people that many of these individual issue web sites have very organized and heavily politically biased agendas behind them. If someone wasn't sure WHO angryrenter.com was about and not just WHAT, that might be helpful.

I for one cannot change someone's mind if he/she doesn't want to entertain an alternate point of view. At the same time we need to continue to analyze information as objectively and critically as we can.

In conclusion, be sure to focus on the issues that are important to you. Don't blindly follow a perspective that may be biased.

Thanks Jason, I agree and I have focused on the issue: The issue is the bailout.  I am against the bailout.  And I don't blindly follow a perspective: like, for example, if someone who is also against the bailout but they are right-wing, I don't try to diminish the validity of their petition just because they are right-wing.  This is blind generalization.

I strongly encourage others to focus on the issue: sign the petition and stop the bailout.  Don't care too much about who is backing a particular petition, if it comes from enough angles it may just make a difference and the least it can do is send a strong message. 

Leave your bipartisanship at home, this issue is greater than that.  Personally I'm on the fence as far as party goes, but if possible please point me to the left-wing anti-bailout petition and I will sign that as well.  Point me to all the anti-bailout petitions, I am focused and will sign them all.

They should have come up with a better name for it. I am not particularly angry at anybody or anything. Not sure what renting has to do with being angry. "Responsible Renter" would sound better, IMHO.

That's true I don't like it either (the lovable poster RatherOpinionated and others like him always called us bitter renters, even though I own). I signed it anyway.

Sign it! Sign it! Sign it!!!!!!!
Sign it! Sign it! Sign it!!!!!!!
Sign it! Sign it! Sign it!!!!!!!
Sign it! Sign it! Sign it!!!!!!!
Sign it! Sign it! Sign it!!!!!!!
Sign it! Sign it! Sign it!!!!!!!

I agree with Daniel, although I AM angry about a bailout and I am a homeowner. How about "Angry Taxpayer"?