“I think you will find that more than 95% of people that didn’t buy more house than they can afford don’t want to subsidize some other idiots mistake when they still gotta make their OWN house payment. I bet a very high percentage of concious homeowners vote too.”
Be sure to keep the counter argument in mind because it is a very good argument. It has to be addressed and discredited on a national scale by a prominent Republican.
By stabilizing foreclosures, housing prices and the housing market in general stabilizes. This leads to toxic assets held on Wall Street and banks all over the country becoming less toxic. This improves balance sheets and leads to a credit UNfreeze and money moving again. Improved credit = an improved economy. That is the argument. Is it right? I have absolutely no idea. I just know it is the argument.
So I say for the national Republicans to drop the “I paid my mortgage now you pay yours” line and address the REAL political game being played.
If we can’t counter the argument above, we lose.
There isn’t enough money in the world to stabalize this housing market. You can lower these peoples rates to ZERO percent and they STILL couldn’t pay these mortgages. They are going to have to be foreclosed upon, and the banks whose balance sheets are wrecked are going to have to go under. Until the players all face the pain from their decisions the markets won’t recover, because no one knows who to trust. The banks don’t trust consumers or eachother and vice versa because everyone knows the bad actors are still in play. Once they have been eliminated and only people/businesses with good balance sheets are left, people will start to do business with one another again.
It’s the lack of confidence that is killing the economy and that isn’t going to go away.
““I think you will find that more than 95% of people that didn’t buy more house than they can afford don’t want to subsidize some other idiots mistake when they still gotta make their OWN house payment. I bet a very high percentage of concious homeowners vote too.”
Be sure to keep the counter argument in mind because it is a very good argument. It has to be addressed and discredited on a national scale by a prominent Republican.
By stabilizing foreclosures, housing prices and the housing market in general stabilizes. This leads to toxic assets held on Wall Street and banks all over the country becoming less toxic. This improves balance sheets and leads to a credit UNfreeze and money moving again. Improved credit = an improved economy. That is the argument. Is it right? I have absolutely no idea. I just know it is the argument.
So I say for the national Republicans to drop the “I paid my mortgage now you pay yours” line and address the REAL political game being played.
If we can’t counter the argument above, we lose.”
One item the Republicans need to focus on is that for the homeowner bailout, the homeowner apparently gets to keep any future upside when home values go up. That is wrong and is NOT consistent with the adminstration cracking down on executive salaries at banks that receive federal money.
Any future upside should not be realized by the owner until the government has been paid back. Seems to me to be pretty obvious provision. Wonder why it wasn’t included?