Homeownership rates fall to 66% as downturn nears a bottom By Julie Schmit, USA TODAY Updated 11h 53m ago Fewer Americans own homes and many of them are continuing to see values decline.
The U.S. Census Bureau reported Tuesday that the nation's homeownership rate fell to 66% in the fourth quarter, continuing a seven-year drop from a fourth-quarter peak of 69.2% in 2004. At the same time, U.S. home prices fell 1.3% in November from October and were 3.7% below 2010 levels, the Standard & Poor's/Case-Shiller home price index indicates................>>>>...................>>>>...............http://www.usatoday.com/money/.....loc=interstitialskip
"While Foreign Terrorists were plotting to murder and maim using homemade bombs in Boston, Democrap officials in Washington DC, Albany and here were busy watching ME and other law abiding American Citizens who are gun owners and taxpayers, in an effort to blame the nation's lack of security on US so that they could have a political scapegoat."
I saw a CBS new story last night about "foreclosure alley" in Fort Meyers FLA. It featured this woman that lost her job and got foreclosed on. They she had a household income of 50K when she got the mortgage and once she lost her job her household income was 15K. The house she bought cost 325K...what am I missing here? Unless she had half down, what the hell is the bank, a more importantly SHE doing with a mortgage that large with a household income of 50K??? Banks are easy to point at as the fault, but can you not blame the buyer??
"Arguing with liberals is like playing chess with a pigeon; no matter how good I am at chess, the pigeon is just going to knock out the pieces, crap on the board, and strut around like it is victorious." - Author Unknown
I saw a CBS new story last night about "foreclosure alley" in Fort Meyers FLA. It featured this woman that lost her job and got foreclosed on. They she had a household income of 50K when she got the mortgage and once she lost her job her household income was 15K. The house she bought cost 325K...what am I missing here? Unless she had half down, what the hell is the bank, a more importantly SHE doing with a mortgage that large with a household income of 50K??? Banks are easy to point at as the fault, but can you not blame the buyer??
Definitely a question that needs an answer. But just remember, the democraps beginning with Clinton and his then HUD/FHA buddy Prince Andrew, when they started figuring everyone was entitled to homeonwership, they eliminated the need to work hard and save for a downpayment, and here came "government mortgages" and it burst!
It was easy money handouts.
Optimists close their eyes and pretend problems are non existent. Better to have open eyes, see the truths, acknowledge the negatives, and speak up for the people rather than the politicos and their rich cronies.
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