Warburton Pr…, Real Estate Pro in Murrieta, CA

Is President Obama a genius? Would the housing market collapse if we stopped the HAFA, HAMP and Tax Credit Programs?

Asked by Warburton Properties, Murrieta, CA Mon Aug 30, 2010

In the 1990s the Federal Government closed down hundreds of Savings and Loans and seized their assets - towns were flooded with foreclosures all over America. 5 years later it was all over and the market started to go up again. Which was better - the 1990s strategy or today's strategy?

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If you think for a minute that President Obama thought up the tax credit, or HAMP or HAFA you are way off base. Two of the three were already in an action plan before Obama came along.
If Obama were a Genius he wouldn't need a teleprompter to do a speech, like no other president who preceded him. This guy worries about his agenda ( like forcing all Americans to purchase health care by 2014 ) more than the economy.

Harold Sharpe - Broker
So Cal Homes Realty
(951) 821-8211
California Department of Real Estate License # 01312992
1 vote Thank Flag Link Mon Aug 30, 2010
The issue we should all be embracing right now is not the tired old debate of Obama or no Obama. The issue in America is confidence. We have the most powerful economic machine in the world but it runs on the fuel of confidence. In California you can buy a home and your payment is invariably less than if you rented it. Confident people are buying right now. The more confidence - the more sales - the more sales - the higher the prices - the higher the prices the more jobs - and so on. Let's get going - sitting around and complaining was what we left behind when we sailed over here from Europe.
0 votes Thank Flag Link Sun Jan 15, 2012
The free market picks itself up one way or another, look at the opportunities present in any type of market. Investors are every where and we are not just talking about amateur investors. Consumer confidence is another matter which needs a boost. What these programs do are temporary stimulation which either encourage transactions that should not happen or bring forward those that are bound to happen over time. With the later, the statistics are artificially inflated and deflated soon after the programs are gone. Long term solution is what we really need.
0 votes Thank Flag Link Mon Aug 30, 2010
Obama is no smarter or dumber than any previous presidents, except for Carter, who set the gold standard for stupid. The flood of foreclosures came from the laws requiring banks to make a certain portion of their mortgage loans to unqualified buyers. Who is to blame for the housing crash? Congress. Look no further. Today's strategy of using government to turn around either the housing market or the economy is once again Cater-like stupid. The best strategy is to leave banks alone to make good loads to good borrowers and let market forces lead the recovery. Continued government involvement will only drive up taxes and the national debt - things even the dumbest president should know leads to recession. The best thing government can do for America is go on a lllllllong vacation.
0 votes Thank Flag Link Mon Aug 30, 2010
There's a thread a few thousand answers long, still going strong, that you can feel free to discuss your personal views on Obama. One thread of this type is more than enough.
0 votes Thank Flag Link Mon Aug 30, 2010
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