Economics, Politics, and the Housing Market
July 7th 2008 03:15
Maybe I am optimistic, but I cannot believe that housing prices can go much lower. I have watched them drop for months now. Surely we’ve hit rock bottom.
In the neighborhood I moved from about two months ago, I keep checking and nothing is moving. I am hoping that it will turn around soon…maybe by the fall which is the second best season for real estate. A rebound then can still help a lot of people avoid foreclosure.
With this being an election year, this is absolutely critical also. Both Democrats and Republicans alike need to work together to bring the economy back. With a Democratic controlled Congress, it will look bad for Obama if we can’t get the economy jumpstarted when they are in control of the entire legislative branch of the government.
On the other hand, John McCain needs things turned around since we have a Republican president. Yet somehow, you just don’t see anyone working hard to make turn things around.
I’ve said it before and I will say it again, those politicians in Washington better start thinking fast about how they plan to improve the economy and take credit for it. If we hit election day and neither one has done anything to “fix” the problem, they are going to have issues with voters. Charm can only get you so far before people start asking tough questions and look for real answers.
In the neighborhood I moved from about two months ago, I keep checking and nothing is moving. I am hoping that it will turn around soon…maybe by the fall which is the second best season for real estate. A rebound then can still help a lot of people avoid foreclosure.
With this being an election year, this is absolutely critical also. Both Democrats and Republicans alike need to work together to bring the economy back. With a Democratic controlled Congress, it will look bad for Obama if we can’t get the economy jumpstarted when they are in control of the entire legislative branch of the government.
On the other hand, John McCain needs things turned around since we have a Republican president. Yet somehow, you just don’t see anyone working hard to make turn things around.
I’ve said it before and I will say it again, those politicians in Washington better start thinking fast about how they plan to improve the economy and take credit for it. If we hit election day and neither one has done anything to “fix” the problem, they are going to have issues with voters. Charm can only get you so far before people start asking tough questions and look for real answers.
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Comment by S.L.
The Political Brief
Whichever of the loser candidates wins, he'll probably want to bail out the mortgage companies and a few of the buyers. It will accomplish nothing. The buyers will keep their homes, but be no better off because the market will (quite naturally) adjust and their equity won't mean diddly. The institutions won't mend their ways for long because they'll know that Big Daddy Government will bail them out if they do it again.
What we really need is a candidate who will say "I'm sorry for your losses, but it isn't the federal government's job to rescue you." That would start the mess on a clean up mode and keep it from happening again.
Comment by Jen
Money Baffle
And while there is a mess that was created by banks, oil companies, and speculators...there are things that government can do that would help us. I am talking about things like eliminating the federal gas tax. That would put a lot of money in my pocket (no, I don't drive a gas guzzler but anything helps) or what if we quit spending so much federal money on ethanol production so that grain products could decrease in price. I don't want a bail out, but I do feel that if big government would step back on some of the ways they have been taking money from us...we might see some improvements.
Comment by S.L.
The Political Brief
Unfortunately, we're talking about Obama and McCain, so the rational, reasonable, common sense things won't happen. Oh they both want to look good to the voters and will trip over everything sensible in their unbridled haste to get attention.
Too many people have gotten "sweetheart deals" from lending companies for either of the candidates to be willing to rock the D.C. boat by refusing to bail them out.
We also have the "greenery" thast both candidates promise. They'll find a million new ways to cost the pants off us and no real ways to help anyone.