Quote:
Originally Posted by Bucco
I could be way out of line here but this is one of the major reasons for my objection to Sen Obama. He is without a doubt a socialist and so far left and that is the group that wants the american dream available to more people. Sounds good but just like most socialist programs it does not work...part of what we are going through now is the insistence in the 90's that we make home ownership available to more people. OF COURSE there were those on Wall St who siezed on this chance and made a ton but seems to me the principle was born in the 90's and even in the 70's with President Carter.
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Bucco:
Once again you hit the nail on the head. You are correct with the socialist programs. They believe everyone should be able to own a home regardless of income. I like the fact that in TV most lenders required minimum of 25% down payment. Look at the repo rate compared to other parts of country.
If all the banks had the same regulations we would not be in this mess. I do believe it started with Carter.
