• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Bad Times Ahead for the Republicans

Status
Not open for further replies.

Juan Benavidez

Thread Starter
Member
Joined
Aug 24, 2006
Professional Status
General Public
State
Texas
Did I hear CNN correctly when they said that only 240,000 home owners would qualify for help with the Bush plan? Jim Cramer says that 5 million mortgages have already reset and that another 2 million will adjust in 2008. So 240,000 divided by 7 million, figures out to be 3% of the subprime loans! Hardly, anything. Many of these 7 million are low income families---the Democrat's bread and butter voters. So, I predict the Republican loyalists are in for some more hard times ahead.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
The appearance of doing something, not actually doing something will help an politician. The Republicans have inflicted far more damage upon themselves than the Democrats. Last week I told a guy from California that he should watch Huckabee (aka the Huckster) and he called me today to remind me what I told him. The Democrats will have their Willy Horton moment over a guy named Wayne Dumond. It happened today. CNN was all over him and he lied like a dog. He pressured the parole board to parole Dumond who promptly moved to Missouri and murdered a woman. My brother's best friend, the late Rep. Raili Steele, former Parole board member, oft repeated how Huckabee in an unprecedented move, asked them to parole him. So let the games begin.

The mortgage mess is not going to be cleaned up by action but by the appearance of actions. Restore the confidence in the system and let Wall St. go back to sucking the lifeblood out of everyone...let the poor eat cake as Marie Antionnette said..
 

Brad Ellis

Senior Member
Joined
Feb 7, 2006
Professional Status
Certified Residential Appraiser
State
California
Juan,

Not sure about the number of those who might be hleped with the Bush plan, but am pretty sure Cramer is wrng (nthing at all new there!:new_llying: )

Most Wall St. reports indicate more resets in 2008 than in 2007.

Brad
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Further, I am not convinced that all the resets are related to 100% LTV loans. In other words, a lot of subprime may still have a lot of equity and also there is a lot of speculative purchases that won't be eligible for the program. In other words, not all subprime went to poor folk with bad credit. A lot when to people who bit on teaser rates whose credit is good and a lot went to flippers and speculators.
 

Karl

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Arizona
This crisis is going to be above & beyond WHOEVER becomes president. & I'm not even religous, but we are in deep Shiiiiiii & we need someone more powerful than any of the candidates. Think Appraisers can't take blame, Think we learned it from the Masters IE the government.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks