Obama mulls rental option for some homeowners-sources

Reuters ^ | 7/14/2009 | Patrick Rucker

[ichabod1]

our glorious leaders can direct a 5 year plan for loyal party members to build us the practical and useful 20 story cinderblock apartments just like our glorious comrades in Soviet Russia and North Korea!!

Da, my Komrade. Thees has been tried in the 1960s but our socialist pioneer predecessors made one mistake - they put the poor people in the cinder blocks and let the bourgeois pigs keep their fine homes. THIS time we will put the bourgeois in the projects and let the oppressed worker stay in THEIR houses.

(and the projects will be neat tidy and organized and the fine neighborhoods reduced to crackhouse slums).

[wmfights]

Here in Sacramento, we have an additional problem with our housing market. Thirty percent of the people in our area work for the State, and the State of California is failing, laying off people in record numbers.

It's a hard time and the new normal will not have that much upside. FWIW, if you can get out even you're way ahead of the game. The CA. mkt is toxic. The state is so poorly run jobs and population are leaving and the schools are declining.

Financially the state is a mess and the govt is run by the unions so don't expect any real reform.

[mjaneangels@aolcom]

“To who? Why Big Brother of course. How many people will freely give up their property to Big Brother in exchange for lower rent payments versus mortgage? Of course, then, when Big Brother becomes your landlord, he is responsible for maintaining your property and putting restrictions on what you can or can’t do there.. and so it goes...”

You forgot to add the bonus. The mortgage company that holds the note, and all associated stockholders will get zip.