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5 Bumps

So... the cash for houses didn't work?

Oh right, they knew it wasn't going to work but they wanted the numbers to look good.
Once again money wasted.


Asked by itsmesteph11 at 2:12 PM on Jul. 9, 2010 in Politics & Current Events

Level 39 (113,405 Credits)
This question is closed.
Answers (15)
  • Spending more money never works. Cut taxes, give people the hard earned money now. They will spend it, buy homes, shop more, invest in the stock market.

    Answer by lawmom27 at 2:07 AM on Jul. 10, 2010

  • frustrated  ONE of these spending programs has GOT to work!  ONE of them, just one, to prove him right!  Cause I'm sure that he is on the right track, if only we could get one of them to work, so that everyone could just SEE!   


    (please read with a LIBERAL dose of sarcasm....)


    Answer by 29again at 3:52 PM on Jul. 9, 2010

  • Parris you can point at barney frank and chris dodd etc for that

    Answer by tnmomofive at 5:48 PM on Jul. 9, 2010

  • There was way too much questionable activity prior to this bail out. People should not have been able to get loans for homes they could not afford. The likes or former presidents should have seen this coming and should have stopped the banks long ago. Americans are suffering and losing their homes, homes that were built from greed.

    I don't believe in any bail out if you're wondering.

    Answer by parrishsky at 5:39 PM on Jul. 9, 2010

  • Yes it did gertie and it started with CARTER


    Answer by tnmomofive at 7:58 PM on Jul. 9, 2010

  • The Community Reinvestment Act and Fannie and Freddie contributed a large part to our current housing mess... And now Obama wants to add another housing bubble.... Idiot.


    Answer by grlygrlz2 at 8:31 PM on Jul. 9, 2010

  • It only helped the sellers, not the buyers--just like "Cash for Clunkers" only helped automakers and dealers (assuming they ever got reimbursed?!). Wonder how many of those cars have been repossessed or sold since the promo ended?!

    Those who were the recipients of the $8000 first time home buyer tax credit, likely paid WAY too much for the home than they should have! In true "amateur hour" fashion, the Obama Administration failed to establish safeguards or close "legal loopholes" to prevent realtors (and FSBO sellers) from jacking up the prices in order to absorb the $8000 "cut" in profit.

    Tax sales are looking REALLY good these days!! :o)

    By keeping the housing market propped up, the Obama Administration was actually PREVENTING first timers wanting to buy an AFFORDABLE home, from doing so!

    Once the market is allowed to drop, watch how quickly "starter homes" start selling!!

    Answer by LoriKeet at 2:51 PM on Jul. 9, 2010

  • Buying now in a volatile job market wasn't something I was comfortable with 8000 doesn't buy job security..

    Answer by lovinangels at 3:25 PM on Jul. 9, 2010

  • I can point at a lot of folks for this mess, it doesn't help matters whatsoever. And why the remark about the prayer rug? Do you want this thread like many others to lose credibility too? Seems so.

    Answer by parrishsky at 6:16 PM on Jul. 9, 2010

  • The housing issue began years ago. But they want to blame Democrats. Ha.
    Clinton was a D. He was running things with his D Congress when the regulations for obtaining a mortgage were relaxed to the point that people on welfare, and people with very little income and/or credit...people who had no business entering into such a contract were encouraged to. And yes, the pubs did not get things corrected or do a whole lot about it, but the fact remains that the dems got this ball rolling, and they were the ones who benefited from it the most, to the tune of millions of dollars! So, YES! I blame the dems!

    Answer by 29again at 8:14 PM on Jul. 9, 2010