Yes they are. But the genie is out of the bottle. It's great that Santelli said what he said on air but whether he did or not, it's the people who get it. They are spending trillions of dollars and there is nothing in it for the people who make this country work. Give us some incentive otherwise, why should we invest? The least they can do is offer ALL mortgage holders the opportunity to refinance at 4.5%. Lose the capital gains tax. Do something for us or there won't be anyone left to collect taxes from. On the local news last night, they had a story on a property tax revolt in one of the towns in NJ. People stormed the townhall and were screaming at the mayor. Their property taxes went up another 20% after a 24% hike last year.
the problem is Obama’s programs are HINDERING not helping.
We need FACILITATION not INTERVENTION.
How about a tax credit over and above for being good about keeping your home.
Even make it a formula. 1-5% tax deduction bonus for keeping your mortgage current at the end of the year.
Government , specifically OBAMA, is making matters worse because they are depressing values even more.
When a house is forclosed, the bank buys the hosue for the value of the judgement. They have to bid the inflated loan value. This means the house that should be going for 1/2 the price is going for the inflated price of the loan.
Just wait, Obama will come out with INvoluntary bankruptcy for home owners.
bank stocks are going to be ugly.
it seems the obamacrats have exposed their plan to nationalize the banks no matter what.
Obama is causing a really really ugly market today.
can we now admit the problem with the ecconomy right now IS obama?