[cr]

This is not a reply to any of the previous comments, and it’s actually ON TOPIC for housing and concerns Obama. I just don’t want another Obama thread:

Obama: ‘What we need is a floor in the housing market’
[quote=OBAMA]Well, I–you know, I think that part of what we have to recognize is they’ve got $5 trillion worth of, worth of mortgages out there, and we’ve got to make some decisions in terms of whether or not we want to take that — those liabilities onto the federal balance sheet. So there are, there are a host of complicated issues here. It is true that there may be some folks who didn’t make the best decision that will still benefit from the home foreclosure plans that have been put forward. But keep in mind that many of these folks were not so much speculators as they were probably in over their heads. They tried to get more house than they could afford because they were told by these mortgage brokers that they could afford it. We are better off helping them stay in their home if you can fix the mortgage and let them pay it off over time than have them foreclose, in which not only do they lose their home, not only do the lenders lose a lot, but that community suddenly sees its property values going down. And what we need is a floor in the housing market, a, a stop to the decline in housing values, as well as some certainty on the part of lenders in terms of what houses are worth so that we can start restoring confidence in the housing market, but also confidence in the financial markets where credit has been contracting. And that’s affecting a lot of terrific businesses and good sound developments and entrepreneurial opportunities because they just can’t get good credit.[/quote]

Here’s more:
http://latimesblogs.latimes.com/laland/2008/07/obama-what-we-n.html

[cr]

This is not a reply to any of the previous comments, and it’s actually ON TOPIC for housing and concerns Obama. I just don’t want another Obama thread:

Obama: ‘What we need is a floor in the housing market’
[quote=OBAMA]Well, I–you know, I think that part of what we have to recognize is they’ve got $5 trillion worth of, worth of mortgages out there, and we’ve got to make some decisions in terms of whether or not we want to take that — those liabilities onto the federal balance sheet. So there are, there are a host of complicated issues here. It is true that there may be some folks who didn’t make the best decision that will still benefit from the home foreclosure plans that have been put forward. But keep in mind that many of these folks were not so much speculators as they were probably in over their heads. They tried to get more house than they could afford because they were told by these mortgage brokers that they could afford it. We are better off helping them stay in their home if you can fix the mortgage and let them pay it off over time than have them foreclose, in which not only do they lose their home, not only do the lenders lose a lot, but that community suddenly sees its property values going down. And what we need is a floor in the housing market, a, a stop to the decline in housing values, as well as some certainty on the part of lenders in terms of what houses are worth so that we can start restoring confidence in the housing market, but also confidence in the financial markets where credit has been contracting. And that’s affecting a lot of terrific businesses and good sound developments and entrepreneurial opportunities because they just can’t get good credit.[/quote]

Here’s more:
http://latimesblogs.latimes.com/laland/2008/07/obama-what-we-n.html

[cr]

This is not a reply to any of the previous comments, and it’s actually ON TOPIC for housing and concerns Obama. I just don’t want another Obama thread:

Obama: ‘What we need is a floor in the housing market’
[quote=OBAMA]Well, I–you know, I think that part of what we have to recognize is they’ve got $5 trillion worth of, worth of mortgages out there, and we’ve got to make some decisions in terms of whether or not we want to take that — those liabilities onto the federal balance sheet. So there are, there are a host of complicated issues here. It is true that there may be some folks who didn’t make the best decision that will still benefit from the home foreclosure plans that have been put forward. But keep in mind that many of these folks were not so much speculators as they were probably in over their heads. They tried to get more house than they could afford because they were told by these mortgage brokers that they could afford it. We are better off helping them stay in their home if you can fix the mortgage and let them pay it off over time than have them foreclose, in which not only do they lose their home, not only do the lenders lose a lot, but that community suddenly sees its property values going down. And what we need is a floor in the housing market, a, a stop to the decline in housing values, as well as some certainty on the part of lenders in terms of what houses are worth so that we can start restoring confidence in the housing market, but also confidence in the financial markets where credit has been contracting. And that’s affecting a lot of terrific businesses and good sound developments and entrepreneurial opportunities because they just can’t get good credit.[/quote]

Here’s more:
http://latimesblogs.latimes.com/laland/2008/07/obama-what-we-n.html

[cr]

This is not a reply to any of the previous comments, and it’s actually ON TOPIC for housing and concerns Obama. I just don’t want another Obama thread:

Obama: ‘What we need is a floor in the housing market’
[quote=OBAMA]Well, I–you know, I think that part of what we have to recognize is they’ve got $5 trillion worth of, worth of mortgages out there, and we’ve got to make some decisions in terms of whether or not we want to take that — those liabilities onto the federal balance sheet. So there are, there are a host of complicated issues here. It is true that there may be some folks who didn’t make the best decision that will still benefit from the home foreclosure plans that have been put forward. But keep in mind that many of these folks were not so much speculators as they were probably in over their heads. They tried to get more house than they could afford because they were told by these mortgage brokers that they could afford it. We are better off helping them stay in their home if you can fix the mortgage and let them pay it off over time than have them foreclose, in which not only do they lose their home, not only do the lenders lose a lot, but that community suddenly sees its property values going down. And what we need is a floor in the housing market, a, a stop to the decline in housing values, as well as some certainty on the part of lenders in terms of what houses are worth so that we can start restoring confidence in the housing market, but also confidence in the financial markets where credit has been contracting. And that’s affecting a lot of terrific businesses and good sound developments and entrepreneurial opportunities because they just can’t get good credit.[/quote]

Here’s more:
http://latimesblogs.latimes.com/laland/2008/07/obama-what-we-n.html

[cr]

[quote=gandalf]In traditional discussions of foreign policy, Obama’s positions are what we would term ‘conservative’. [/quote]

I didn’t revisit the now 6 pages of posts to see if this is where I originally found the link so don’t slam me if I’m reposting it.

Obama a conservative? Only if Marx was a catholic priest.

http://www.ibdeditorials.com/IBDArticles.aspx?id=302137342405551

[cr]

[quote=gandalf]In traditional discussions of foreign policy, Obama’s positions are what we would term ‘conservative’. [/quote]

I didn’t revisit the now 6 pages of posts to see if this is where I originally found the link so don’t slam me if I’m reposting it.

Obama a conservative? Only if Marx was a catholic priest.

http://www.ibdeditorials.com/IBDArticles.aspx?id=302137342405551

[cr]

[quote=gandalf]In traditional discussions of foreign policy, Obama’s positions are what we would term ‘conservative’. [/quote]

I didn’t revisit the now 6 pages of posts to see if this is where I originally found the link so don’t slam me if I’m reposting it.

Obama a conservative? Only if Marx was a catholic priest.

http://www.ibdeditorials.com/IBDArticles.aspx?id=302137342405551

[cr]

[quote=gandalf]In traditional discussions of foreign policy, Obama’s positions are what we would term ‘conservative’. [/quote]

I didn’t revisit the now 6 pages of posts to see if this is where I originally found the link so don’t slam me if I’m reposting it.

Obama a conservative? Only if Marx was a catholic priest.

http://www.ibdeditorials.com/IBDArticles.aspx?id=302137342405551

[cr]

[quote=gandalf]In traditional discussions of foreign policy, Obama’s positions are what we would term ‘conservative’. [/quote]

I didn’t revisit the now 6 pages of posts to see if this is where I originally found the link so don’t slam me if I’m reposting it.

Obama a conservative? Only if Marx was a catholic priest.

http://www.ibdeditorials.com/IBDArticles.aspx?id=302137342405551

[cr]

You’re forgetting one thing, Obama is young and fresh. That will make everything work out just fine.

/sarcasm

[cr]

You’re forgetting one thing, Obama is young and fresh. That will make everything work out just fine.

/sarcasm

[cr]

You’re forgetting one thing, Obama is young and fresh. That will make everything work out just fine.

/sarcasm

[cr]

You’re forgetting one thing, Obama is young and fresh. That will make everything work out just fine.

/sarcasm

[cr]

You’re forgetting one thing, Obama is young and fresh. That will make everything work out just fine.

/sarcasm

[cr]

[quote=esmith]18 million number includes all second homes and vacation homes in the U.S. It’s above average (it’s been in 14-15m range during the boom) but it’s not going to zero.[/quote]

15 million? I’m just speculating, but the majority of that number must be new or foreclosed homes, i.e. not vacation homes.

Sure they account for some of that #, but 10% of that, say 1.5 Million vacation homes would be one for every 200 people in the country (including children). Apartment complexes with 200+ units are common and my guess is if you’re living in an apt, you probably don’t have a vacation home.
I’d be surprised if even 5% of that number is vacation homes.

[Author]

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