Msg. 29614 of 47202 (This msg. is a reply to
29586 by
capt_nemo)
Jump:
>> Home owners,,,WTF are they ????????????
Hmmm.
Let me see . . correct me if I'm wrong . .
The gubmint wanted to make more people into homeowners . ..
So they created 'home loans for everybody' . . . But lots of the
folks they was loaning money to the only loans they could get was
'subprime' . . . And then when they could not (or would not) pay
the money back we had the mother of all housing collapses.
President barak obozo 'took advantage of the crisis' to enact more socialism
style reforms and the result was predictable. Not enough good paying
jobs for folks to be able to afford houses.
(This is the short version - let us not forget the housing bubble
which inflated house prices till working folks couldn't really
afford them either.)
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