Bush Drops Opposition to Housing Bill

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[quote=PadreBrian]LOL! Don’t be so naive. Those congressmen aren’t paid by you, they are paid by lobbyists! They also don’t care where your money goes, whether it be Iraq…or fraudulent home loans, whatever. They are paid by wall-street to look the other way.

Bush is caving for the very same reasons. [/quote]

Right. So what, we should all look the other way too?

If not, then short of posting comics what do you suggest? And actually the taxes from your paycheck pay their salaries.

[LAAFTERHOURS]

Man Im angry.

Hypothetically, lets say a home that sold for 650K in 2006 is selling for 450K in 2009. So lets say I jump on that home and buy it at 450k. A bunch of my neighbors bought in 2006 and were bailed out due to a program like the one mentioned above. Because of a bailout like this, how does it work? Does my neighbor have equity if he sells at anything above his bailout price point (Say he bailed out when the comps hit 450K)? Or is he on the hook for the balance that was “bailed out” by the govt? I would hate to think that people in my neighborhood have equity or no obligation for their stupidity, especially when my tax dollars are bailing them out.

Im angry because Im not exactly sure what this does to the San Diego market I have been patiently waiting out for two years. I want to see another 15% or more and feel its possible in selective areas but am unclear on the effects of programs like these.

PS Padre great comic and Thrifty great comments.

[LAAFTERHOURS]

Man Im angry.

Hypothetically, lets say a home that sold for 650K in 2006 is selling for 450K in 2009. So lets say I jump on that home and buy it at 450k. A bunch of my neighbors bought in 2006 and were bailed out due to a program like the one mentioned above. Because of a bailout like this, how does it work? Does my neighbor have equity if he sells at anything above his bailout price point (Say he bailed out when the comps hit 450K)? Or is he on the hook for the balance that was “bailed out” by the govt? I would hate to think that people in my neighborhood have equity or no obligation for their stupidity, especially when my tax dollars are bailing them out.

Im angry because Im not exactly sure what this does to the San Diego market I have been patiently waiting out for two years. I want to see another 15% or more and feel its possible in selective areas but am unclear on the effects of programs like these.

PS Padre great comic and Thrifty great comments.

[LAAFTERHOURS]

Man Im angry.

Hypothetically, lets say a home that sold for 650K in 2006 is selling for 450K in 2009. So lets say I jump on that home and buy it at 450k. A bunch of my neighbors bought in 2006 and were bailed out due to a program like the one mentioned above. Because of a bailout like this, how does it work? Does my neighbor have equity if he sells at anything above his bailout price point (Say he bailed out when the comps hit 450K)? Or is he on the hook for the balance that was “bailed out” by the govt? I would hate to think that people in my neighborhood have equity or no obligation for their stupidity, especially when my tax dollars are bailing them out.

Im angry because Im not exactly sure what this does to the San Diego market I have been patiently waiting out for two years. I want to see another 15% or more and feel its possible in selective areas but am unclear on the effects of programs like these.

PS Padre great comic and Thrifty great comments.

[LAAFTERHOURS]

Man Im angry.

Hypothetically, lets say a home that sold for 650K in 2006 is selling for 450K in 2009. So lets say I jump on that home and buy it at 450k. A bunch of my neighbors bought in 2006 and were bailed out due to a program like the one mentioned above. Because of a bailout like this, how does it work? Does my neighbor have equity if he sells at anything above his bailout price point (Say he bailed out when the comps hit 450K)? Or is he on the hook for the balance that was “bailed out” by the govt? I would hate to think that people in my neighborhood have equity or no obligation for their stupidity, especially when my tax dollars are bailing them out.

Im angry because Im not exactly sure what this does to the San Diego market I have been patiently waiting out for two years. I want to see another 15% or more and feel its possible in selective areas but am unclear on the effects of programs like these.

PS Padre great comic and Thrifty great comments.

[LAAFTERHOURS]

Man Im angry.

Hypothetically, lets say a home that sold for 650K in 2006 is selling for 450K in 2009. So lets say I jump on that home and buy it at 450k. A bunch of my neighbors bought in 2006 and were bailed out due to a program like the one mentioned above. Because of a bailout like this, how does it work? Does my neighbor have equity if he sells at anything above his bailout price point (Say he bailed out when the comps hit 450K)? Or is he on the hook for the balance that was “bailed out” by the govt? I would hate to think that people in my neighborhood have equity or no obligation for their stupidity, especially when my tax dollars are bailing them out.

Im angry because Im not exactly sure what this does to the San Diego market I have been patiently waiting out for two years. I want to see another 15% or more and feel its possible in selective areas but am unclear on the effects of programs like these.

PS Padre great comic and Thrifty great comments.

[PadreBrian]

Laughing now is better than the alternative…to blow blood vessel about something we have very little control over. It’s way out of out hands.

Most of us here have been warning friends that this meltdown would come. A House worth 200k back in 2001, is worth 800k 4 years later? REALLY?!! BUT, factor in that dubya has ran the virtual dollar printing press for the last 7 years… the US dollar to be only worth HALF as much as it did when Clinton left office….so your 200k house is now worth 400k in 2008 dollars. Welcome to the new world order. The rich get richer and us poor slobs pick up the bill.

[PadreBrian]

Laughing now is better than the alternative…to blow blood vessel about something we have very little control over. It’s way out of out hands.

Most of us here have been warning friends that this meltdown would come. A House worth 200k back in 2001, is worth 800k 4 years later? REALLY?!! BUT, factor in that dubya has ran the virtual dollar printing press for the last 7 years… the US dollar to be only worth HALF as much as it did when Clinton left office….so your 200k house is now worth 400k in 2008 dollars. Welcome to the new world order. The rich get richer and us poor slobs pick up the bill.

[PadreBrian]

Laughing now is better than the alternative…to blow blood vessel about something we have very little control over. It’s way out of out hands.

Most of us here have been warning friends that this meltdown would come. A House worth 200k back in 2001, is worth 800k 4 years later? REALLY?!! BUT, factor in that dubya has ran the virtual dollar printing press for the last 7 years… the US dollar to be only worth HALF as much as it did when Clinton left office….so your 200k house is now worth 400k in 2008 dollars. Welcome to the new world order. The rich get richer and us poor slobs pick up the bill.

[PadreBrian]

Laughing now is better than the alternative…to blow blood vessel about something we have very little control over. It’s way out of out hands.

Most of us here have been warning friends that this meltdown would come. A House worth 200k back in 2001, is worth 800k 4 years later? REALLY?!! BUT, factor in that dubya has ran the virtual dollar printing press for the last 7 years… the US dollar to be only worth HALF as much as it did when Clinton left office….so your 200k house is now worth 400k in 2008 dollars. Welcome to the new world order. The rich get richer and us poor slobs pick up the bill.

[PadreBrian]

Laughing now is better than the alternative…to blow blood vessel about something we have very little control over. It’s way out of out hands.

Most of us here have been warning friends that this meltdown would come. A House worth 200k back in 2001, is worth 800k 4 years later? REALLY?!! BUT, factor in that dubya has ran the virtual dollar printing press for the last 7 years… the US dollar to be only worth HALF as much as it did when Clinton left office….so your 200k house is now worth 400k in 2008 dollars. Welcome to the new world order. The rich get richer and us poor slobs pick up the bill.

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