How would you grade President Obama’s handling of the housing crisis in 2009?

Asked by Pete Flint, Noe Valley, San Francisco, CA Fri Jan 15, 2010

Housing has been one of the key focus areas for Obama during his first year in office – he tried to keep homeowners in their homes with the Mortgage Relief plan and tried to spur sales with the First Time Homebuyer Tax Credit, among other things. How would you grade his performance on housing and what do you think needs to be done in 2010?

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Scott Rhineh…, , Mission Viejo, CA
Thu Jan 28, 2010
This question is premature. A professor would not grade a paper intended to be ten pages in length by quickly looking at the first page. It took years to get into this mess and it will take years to correct it. To grade or to judge this President on initial efforts to return our financial markets and the housing markets to order is not realistic. Frankly, no plan can work when it is blocked, marginalized, or stripped down to an ineffective mess by others who would rather see a President fail for their own political, social and economic success.

The asking of this question really goes to the core of the financial mess we put ourselves into over the past eight years. It is not just the housing crisis that must be dealt with by this President and Congress. There is so much more than the housing crisis. It seems many are only focused in on what impacts them immediately and that is a normal response. It is our piece of the dysfunctional pie that most concerns us. That said, this nation, this government and the people face not only a housing crisis, but a plethora of immediate critical issues that need to be addressed. It is no easy task and most assuredly will not be completed in any President's first year in office. It is certainly a task that deserves more than some simplistic, myopic grade from people who still think this President was born in Kenya, is Muslim, or have no idea that the Boston Tea Party was more about the lack of representation than the actual tax.
34 votes
Whoever thinks it is possible to clear all that housing mess in 2 years should stop thinking at all. It is not your forte. Las Vegas ... Paul Francis, agent of course, could you please tell the public what did YOU do to prevent a housing bubble market? I as a programmer knew it was a huge BS, and you did not? Weren't you forcing people to buy buy buy no matter what to make money for yourself? Were you thinking of people you were fooling to? I personally doubt. And now you are probably loosing money? And you blame President, but not a human greediness, the absence of a common sense, an overall stupidity, including yours and your clients ones? No doubt.
To Scott's post, my 100% percent support. First of all, President is not in power to do anything by himself. Second, if it took approx. 5 years (as far as I remember this stupidity with real estate started in 2003), it will probably take twice the time to set everything back to at least 2002.
Flag Thu Sep 6, 2012
Very well put! Two thumbs up! I think bias has affected the otherwise objective and rational thinking of many of our fellow professionals.
Flag Wed Aug 22, 2012
Over two years later and it's certainly ok to give that "F" grade now...
Flag Tue Mar 20, 2012
Debbi(pa), Both Buyer And Seller, 08247
Wed Jan 20, 2010
Let's leave the parties out of it. It's an American tradition that the sitting President "owns" the economy -- good or bad. Be real -- if the economy was good, he'd be taking all the credit! Surely a year is enough time for the Anointed One to make the magic happen. Gosh, that darn Bush -- he must have caused the Haitian Earthquake.

It's all about priorities. Do you really believe that people loosing their jobs, then their homes, have Healthcare foremost in their minds? He has wasted an entire year!! Look for the hidden agenda. He wants a huge bureaucracy, which will give him thousands of new union supporters. Why can we not start with some regulations to cover Tort Reform, Pre-Existing Conditions, and Loss of Coverage? For those who can afford/don't want insurance, a fund that provides for catastrophic coverage. And let's be honest, lots of people with big cars and big TVs claim "poor" when it comes to insurance. I was unhappy with the Bush administration bailouts, but Obama has spent tons more. And no end in sight. As a bank employee, I can tell you first-hand the pressure the government put on us to lend to shaky borrowers. (And we all know what that means.) Frankly, people who can't make simple calculations to know if they can afford the house don't deserve the house! It's a privilege, not a right. We don't all get what we want. And who really pays? Those of us working super hard to maintain our homes and make our payments, only to get burned by the low comps caused by foreclosures. People who have lost their jobs, of course, are blameless and I pray for them. Oh - what IS that Unemployment Rate? Stayed well under 8%, right?

Another point: NO ONE in this country is denied critical care. My sister the E.R. nurse has confirmed that. In many cases the payment plans never happen, so we already pick up that tab. AARP supports ObamaCare? Of course, they sell supplemental insurance. Both parties are in bed with corporations and industries, so please stop acting like it's just the GOP. GE anyone?

The focus in 2010 should be jobs and housing: reasonable appraisals and looser credit for GOOD buyers. It's simple: People who are worried about their income will not buy new houses. And the Home Buyer's Credit needs to be higher to really motivate, and also to mitigate the damage already done to home values.

I say throw all the DC bums out and start fresh. Perhaps the Massachusetts Miracle is the beginning of Common Sense prevailing. I sure hope so, cause it's gonna get a LOT worse before it gets better if he keeps going.
29 votes
your a stupid yatch and from day one posted similar dribble. FU
Flag Fri Jun 22, 2012
Not.. the right answer.. Full of misinformation,Name me any president, or any politician, who hasn't exaggerated his/her accomplishments. Name me any president, or any politician, who has lived up to all his/her campaign promises. You can't!

You can emphasize Obama's drawbacks all you want, but it would be nice if, on occasion, you gave him kudos for what he has accomplished--and against one of the most obstreperous Congresses in history: equal pay for women, the health care initiative, increased funding to NEA (a big one for me), renewable energy partnerships, regaining international respect after it was at its lowest perhaps ever, and much more.

Perfection is not something I expect or look for in a politician or any leader. I look for integrity--something sorely lacking in any of the Republican presidential candidates (except maybe Ron Paul); I look for someone whose heart is in the right place; I look for someone with high intelligence; I look for someone who is capable of inspir
Flag Sat Apr 28, 2012
"sitting President "owns" the economy -- good or bad" I don't think so! .....Unless it happened on his/her watch, get it?
Flag Sun Mar 25, 2012
Jeffrey, Home Buyer, Leander, TX
Wed Jan 20, 2010
I'd give him an "F-" in damn near everything he touches. It is not my responsibility to pay for someone else's mortgage any more than it is anyone else's responsibility to pay mine. If you took on more than you could handle, or god forbid, lost a job (Thank you crappy socialist Obama policy and Bush policy that started it) that's unfortunate but this is America. America has been so successful because we have the freedom to succeed and the freedom to fail. Liberals and Progressives can't seem to grasp that you can't have one without the other. What needs to be done in 2010 is for the government to get the heck out of our business. If a mortgage company or financial institution fails.... LET IT FAIL. Same goes for people who can't afford to be in a house they bought. If that happens then more of us will have jobs, more of us will have more money, and more of us will be able to actually afford a nice home. Government screws up everything it gets involved with.
29 votes
Tony, Home Buyer, Marion County, FL
Wed Jan 20, 2010
I have to say its about time for the President and his administration to take the blame for the state we are in and stop trying to hold on to the old saying "ITS BUSH'S FAULT" how long are we going to have to hear this? 4 more years? Face it he was a bad choice to run this country and his track record shows it and with the way the election went in Mass just goes to show the the people are now seeing this. The Dems control everything so how can you still say its BUSH's fault for everything? Remember his words when he was running for office, NO MORE TROOPS TO GO OVER SEAS that didnt happen now did it but I guess BUSH made him do that also, his wife has all this staff in the white house costing the TAX PAYERS Hundreds of Thousands of Dollars and only 2 other sitting Presidents wifes had these staff members but I guess BUSH made her do this also and why does she need this staff? Then that great idea of flying Air Force #1 around NYC @ how many thousands of dollars an hour for a PHOTO SHOOT, Oh wait I know BUSH's idea also, plus we wont go into how he tried to get the Olympics here and again spend hundreds of thousands of dollars for WHAT, NOTHING. So what do I give President Obama for a GRADE the 1st year in office an "D" across the board and STOP blaming BUSH for everything or come election year all you DEM's are going to get VOTED OUT.
24 votes
"the old saying "ITS BUSH'S FAULT" how long are we going to have to hear this?
If you neighbor set your house on fire, after 20 years would it be your fault??
Flag Sun Mar 25, 2012
Thomas Johns…, , Houston, TX
Mon Jan 18, 2010
For the citizens and homeowners of America, Obama's handling of the crisis has been a giant failure. He has stuffed the pockets of every campaign contributing Wall St. banker with trillions of taxpayer money. the flow through of AIG bailout money to Goldman Sachs has been a sparticularly stellar example of Obama and Geithner looting America. In addition, Goldman got 13 BIllion of taxpayer money so it could fully fund its bonus pool.

Loan Mods are a huge failure Fannie and Freddie have a blank check from the US Treasury and they pay executives millions in bonuses. There is none of the promised transparency in this administration. It is completly owned by Wall St.
22 votes
really?? lol .... people like u amaze me Thomas, thanks for making me laugh..
Flag Sun Mar 25, 2012
David Hotle, Home Buyer, Herndon, VA
Thu Jan 28, 2010
I give him an F as well.

I'm a young, prospective home buyer that looked for about 6 months, but decided to wait because of the turbulent economy. Great, give me a tax credit (which I would only get about $2k from) and that is really going to inspire me to buy a $350k home. If I lose my job then I'll end up bankrupt and in a box.

Obama needs a serious reality check. He needs to focus on balancing the budget (because we can't have $1.5 trillion dollar yearly deficits forever) and let the private sector fix itself. If certain businesses overextended themselves, let them fail and we'll make the ones that did what is right stronger.

Also, I personally disagree with FHA loans. If a bank isn't going to take a chance on someone putting 3.5% down, then why are we federally subsidizing loans for people who are much more likely to default?

In Summary:
1. Get the government completely out of the housing business.
2. Obama needs to focus on balancing the budget.
3. Let the private sector fix itself.
19 votes
Ellen Hume, Home Buyer, Boston, MA
Wed Jan 20, 2010
He will be one of the greatest presidents ever, becasue he has been handed more problems than most. I am surprised that people think the Republicans--who gave us the housing crisis thanks to their deregulation, think this is "their" moment in history. Not in my book. He is doing better than I expected, in an extremely harsh political environment.
19 votes
Michael Mulv…, Agent, Severna Park, MD
Thu Jan 28, 2010
You tell me what grade he deserves.

The tax credit (in my opinion) did not create many new buyers, but shifted buyers that were going to buy anyway. Some buyers just bought homes a bit earlier than they planned ... the Nov '09 extension and expansion of the program will result in the same thing. We'll know for sure later this year, if/when the number of sales drops off after the program expires.

The Mortgage Relief plan is a joke ... just look at the results. Around 10% of those "eligible", were enrolled (Oct '09). The program had to be modified in November '09 because it was too complicated.

The program relies upon the lenders cooperating with the borrowers. If the lender agrees to modify a loan, they provide a temporary period of time (usually 6-12 months) where the payment is adjusted, after which time the payment goes back to what it was. The borrower now owes more on the mortgage than they did at the beginning of the modifcation, because the lender just shifts the difference not paid, to the mortgage balance, and extends the period of the loan.

The lender still makes their money (if the home owner continues to pay).

The home owner MAY benefit from the temporarily reduced payment, but only if the borrower (who is normally suffering a temporary disability or job loss) can get their income back to a level where they can afford the payment, again.

Many people who receive a modification, still lose their home (thru short sale or foreclosure) ... which is one of the continuing problems in the real estate market.

What makes these plans even worse, is they cost all tax payers. We (the tax payers) pay much more than $8,000 for each $8,000 tax credit paid.

Michael Mulvey -US Army (Retired) Full-Time Realtor Pasadena, MD
16 votes
Not true.. I paid mine off and now my monthly payments are a tad lower.. I got a job back and took out of my saving. Not all modifications go to short sale. One if you want it too.
Flag Sat Apr 28, 2012
Carolyn Bott…, , Anchorage, AK
Thu Jul 15, 2010

Actually, I voted for McCain/Palin and I definitely do not agree with many of the President policies. I can assure you that I will not be voting for him. But, just as I can sense what is a bad policy, I can sense prejudice.

All what you said might have happen, not a historian to check on them or not, but the fact is you took the position to select and pick specifically black racism, accusing a specific race and group is alarming.

You yourself said it "Racism come in all colors"... well, where are the other colors, how about other organizations? You just want to focus strictly on the African American community.

Nobody here is defending these black organizations for what they did. But, the fact is that you decided to bring them out (and they happen to be all African American) shows your bias. You vehemently (and angrily) went after a specific race (regarless if they wrong).

It would be like me pointing out a list of murderers and how mad I am at, but then I only listed persons of African American descent. Did they do yes? Absolutely, that is 100% fact. Well, so did other races as well, no? But the fact that I chose to point out only black murders shows that I see the world from only one color and my anger is focused only at a specific race.

That Debbie, is exactly what you did. You accuse other people of playing the racism card... well you Debbie, are the master of that.
11 votes
Debbie are you aware.. at all.. why on earth would you have voted for Palin.. Or ever say you did. I would not tell anyone of that error in judgement.
Flag Sat Apr 28, 2012
lol @ John
Flag Sun Mar 25, 2012
Seriously vapid answer, look it up in the dictionary.
Flag Sun Mar 18, 2012
Patricia Bro…, Agent, Mount Pleasant, SC
Wed Oct 6, 2010
President Obama threw more money at a bad situation and got a hick-up of activity for it. He threw money at the Banks, and they are not lending. He threw money at a Tax Credit, which sold homes but to first time borrowers. I guarantee we will see these same homes or a great percentage of them back on the short sale list or worse, foreclosure list. I give him a grade of F for Failing.

He should have put more regulation on Fanny and Freddie and not had the dopes Barney Frank or Chris Dodd in charge of anything pertaining to these two failures as Guarantors. That is what cause this entire mess. They encouraged Fanny and Freddie to lend to people who had no business buying a home and then bundled these bad loans and sold them to the Teachers Unions, and other innocent people that "Trusted" these 2 govenment agencies to do the right thing. They sold these loans to Europeans as bonds they would get a good return on. Knowing they were not worth the paper they were written on. Nothing has been fixed.
They have tightened their underwriting guidelines and required higher credit scores. Big deal.

President Obama was more interested in his ObamaCare than in creating Jobs or the Housing Market. Without a Job you cannot get a loan......yet. F = Failure and throw him out in 2012. Better still Impeach Him.

He promised to end the war......he increased troops in Afganistan. Many military families are loosing their homes here as well. The Middle-East Wars have been going on since ancient times. You cannot tame a wild animal. That is what they are and will continue to be. He is throwing good money after bad at the war...just like the housing market. He is NOT a leader to follow.

Chicago has more deaths in a week that in Afganistan. Check the facts on that one. That is Obama's home town. Vote him OUT. We put the lid on Acorn as a result of their own demise. That should limit his votes considerably. Failure as a President.
10 votes
Thom, Both Buyer And Seller, Norfolk, VA
Thu Jul 15, 2010
I'm not going to dignify an answer to your ridiculous statements. You are obviously part of the problem in this country!! NAACP had it right about the tea party.
10 votes
Obama may not be perfect, but he is much better than the alternative.
Flag Sat Apr 28, 2012
Tito, Home Buyer, Bronx, NY
Wed Jan 27, 2010
PROGRESSIVE SOCIALISM: You have two cows. The government takes one of them and gives it to your neighbor
Capitalism - You have two cows. You sell one and buy a bull. Your herd multiplies, and the economy grows. You sell them and retire on the income

Anita Dunn, Van Jones, Bernie Sanders, George Soros, Rev. Wright, Father Fleugher, Bill Ayers, etc., etc.

You folks take a wild guess where the president is headed. If he doesn't reverse course tonight then he will have learned nothing in his first year and reveals himself for the leftist ideolouge that he is. And if he blames Bush tonight again for this mess IM GOING TO GET VIOLENTLY ILL!!!!!!!

Why the American people voted for this and didn't see it coming is beyond me. Wake up, the progressive/socialist with their money and influence have infiltrated both political parties. This has been tried before thoughout history and its a failed and bankrupt system. Don't listen to the ideolouges on both sides. Its like anything else you have to trust but verify and do your own research.

We deserve better. We the American people have woken up and THIS WILL NOT STAND!!!!!!!
10 votes
Debbi(pa), Both Buyer And Seller, 08247
Wed Jan 27, 2010
JKGoode -

You are right I'm afraid. A year of failing, then blaming, then demonizing, then punishing. And with full control of Congress. Obama IS Chavez Lite - which may appeal to some who opine here, unfortunately. Leadership qualities are absent. He makes the private sector very nervous. Companies do not expand and hire when they are uncertain about how much more the Government will tax and control. Without the jobs, the real estate market will continue to languish -- at best. Hope and change? I hope Congress will change in 2010! This guy needs some checks and balances -- and a whole new set of priorities.
10 votes
Brad Bishop, Home Buyer, Wausau, WI
Thu Jan 28, 2010
Adrian & others ,
Would you rather have trickle down wealth or trickle up poverty? Obama is claiming the mantle of the former but is causing the latter. Then again , we are not to judge a liberal by thier results , only thier intent. That being said, the answer is smaller Government in everyones life.
The Dems and the Repubs are one in the same and are controled by the uber rich. The Federal Reserve System (which is not federal nor has any reserves) needs to be abolished and we need to be put back onto the gold standard instead of being able to print funny money to no apperant end. The Goverment has NO intention of helping Americans or the housing market, they want control of your life. Once everyone is on Goverment health care (welfare) they have just about acomplished this goal.
Unfortunately, to may people will not figure it out soon enough and will be wiped out totally and have no choice but to look to big brother for a hand out. If anyone is interested , there is a CD selling on ebay called THE CREATURE FROM JEYKLL ISLAND and is a synopsis about how and why the Federal Reserve System was created. It opened my eyes to what I already was seeing happen. I wish you all the best of luck and hope you all are taking the proper precations to survive what is comming soon. The best piece of real estate you can invest in is between your ears so educate yourself while you still can. God bless.
9 votes
Jacqueline A…, Agent, Chapel Hill, NC
Thu Jan 21, 2010
I would give President Obama an "A" for trying to do something about situtations that seemingly went unnoticed for the last years. Without the stimulus packages, the stats for real estate would not look as good as they do. We do have some buyers (some of them really uncertain that they were doing the right thing given the job market) making a move toward homeownership or moving up because of the packages. I am really surprised that so many people have forgotten how we got in this position in the first place. If more people would have spoken out when monies were being put into places that did not benefit the masses, we would not be in such a crisis, a crisis that will be with us for the next 5 to 10 years. If the "tea parties" had organized, when millions of dollars were paid to the suppliers (2001-7) that prospered, that help to lead to this crisis, maybe people would have stood up to help prevent the crisis we are now facing. "Tea party people" have criticism and but present no ideas or means to change anything. They just want to stop anything that "might" work. Many people can say what is wrong but few people have given any other solution to problems that had better addressed. How many more people can lose jobs? How many more industries can we lose and still remain viable? How much more of a service nation can we become? I thank the present adminstration for trying to provide solutions to these massive ptoblems. I am pleased that President Obama started with the real estate market. Many people are out there criticizing the efforts but have no other solutions. It would be refreshing to not hear the criticism and hear more solutions. So far his performance has been good. In 2010, there should be emphasis placed on job security by building the USA in unity and loyality.
9 votes
Gabe G. Kubi…, , Salem, OR
Wed Jan 20, 2010
I feel sorry for him. He try to do what is the best for the American people, and the poor man get nothing but negative criticism. Ther are thousand and thousands of people who lost their homes and he tries to help them to stay in their home. He tri to get a health care system established, so everybody could go and see a doctor when they need it. What he gets?
He took over an eight years mess and people expect him to change it in a year. Ifd he could run ten more times I would vote for him ten more times. He is an honest person, he needs the support of the American people not a nehgative attitude.
That's what I think.
9 votes
I agree with you Gabe.. Obama seems to be a good person trying hard.. He is having fun tonight. Good to see them enjoy a fun night
Flag Sat Apr 28, 2012
Jerry, Both Buyer And Seller, Mesa, AZ
Wed Jan 20, 2010
for all those who simply must blame our president for everything, I say this.... please stop ! he has one cabinet member that I disagree with, T. Geihtner. I probably have his name misspelled which is good . he is misspelled all the way around. He would not have been my choice. Yes our present president inherited this seriously bad situation. No... he did not send our troops to Iraq. Yes... Mr. Bush dropped the ball in the first war next to Pakistan in Afgan. . No present guy is not perfect but I do not see anyone else doing to help the situation. while I might give him this grade...."B," I would give the republicans this one.... "D." Republicans do not even have a health care plan, yet want to cry foul because some one is trying. I like the trying part. I have to ask, why doesn't the republican party try? If I drove to Washington and stood before the republican party and asked, why they do not, would get an answer much this way, 'is our duty to blame Obama for everything." I say they need to stop on that and start working with others in congress.
9 votes
Anneb, Home Buyer, San Diego, CA
Wed Jan 20, 2010
Hes a joke ! Hes worse than the people who warned me about him told me he would be. Talk about gone with the with wind ! His presidency is flakey and costing us and our children to live in fear of the future instead of hopefull. Get him out before he bankrupts the whole country and changes everything America has worked for. Thanks for asking!
9 votes
Chris, Home Buyer, New York, NY
Wed Jan 20, 2010
I agreed with Dan. F is a grade too high for him.

If government just stay away and let free market does what it does best. Everything will be corrected by now. Home become more affordable. Bad financial institutions go belly up and we have better many financial institutionals. No more government guarantees loans. (This is one reason why college tuition become unaffordable).

Yes, it will be painful, but home becomes more affordable. We will go back to where people need to put down a big down payment to get a home.
9 votes
Vicki D'Amore, Agent, Ft Myers, FL
Wed Jan 20, 2010
Poor, just like he made most of the American people.
It's time Americans took America back including our housing.
Assistance should only be given to legal American citizens.
9 votes
Flag Sat Apr 28, 2012
Ben Edsall, Agent, Kansas City, MO
Mon Jul 12, 2010
He sucks, and giving other peoples money away to home buyers and car buyers is pure socialism. His policies and his radical agenda are leading us on a path to destruction, which seems to be his goal.

Government does not create jobs, government does not create wealth, government steals from those who produce and rewards those who do not.

His continual assault on workers, business and employers is destroying jobs, opportunity and the economy.

The new lead based laws added thousands in cost to rehab and repair of existing homes, further decreasing their value.

If he gets his Cap and Tax through we will be telling people in $40,000 homes that they have to invest $20-30,000 in them to meet the new energy efficiency standards in order to be allowed to sell your own damn home!

This guy is the opposite of Midas, everything he touches turns to @#*%!
8 votes
Debbi(pa), Both Buyer And Seller, 08247
Tue Mar 30, 2010

Well said! It's hard to view what is happening as anything other than deliberate and methodical "FUNDAMENTAL CHANGE." Congress is clearly and quickly vesting enormous and unprecedented power in the Government. More even than I worried about.

Some would say "Yes - that's what we need!" Others would say "Oh, no, that's what we feared!" Others would say "Oh, is THAT what he meant?" It's all about the third group in the next election.

I frankly don't think Congress cares a whit about the thousands of lost jobs in the private student loan sector as many more union workers will be a much more reliable voting pool. Same for illegals and same for felons.

The White House and Congress are in full campaign mode. Why else would Obama be darting about to different states trying to convince people about HealthCare when it's already a done deal??? Waste of time, money and focus? You make the call.

I've asked before: is it really far fetched to worry that some day medical procedures, loans, and who knows what else may be meted out according to your political party? Can anyone guarantee that will not happen??

It seems as though the same people that once despised the idea of "Big Brother" are cheering this movement onward without objective thought and it's very sad. Perhaps failing to consider, of course, that these very powers will be inherited by the next majority in charge.

And now CEOs that have identified the negative impact of higher taxes on their corporations are being ordered to DC to turn over work-papers and communications with clients? Are you kidding me??

This Administration has already demonstrated it's willingness to void private sector contracts. Think that's no big deal? Well, someday it may be your contract. And people, mortgages ARE contracts.

I just hope reasonable Americans will begin to consider that while the train may have left the station, it may be in the best interest of the Republic as a whole to try to slow it down before it leaves the tracks. If we're honest, we need to admit that the outcome of all of these initiatives is uncertain -- at best.

God Bless America!

P.S. Please read what Gary has posted and think about it.
8 votes
Robin Coons…, , Phoenix, AZ
Tue Mar 9, 2010
If you are asking us here in Reno NV.. The things Obama has done has damaged the market even farther than ever... Why did the banks get two bailouts? Why not the owners? I would give him an F
8 votes
John Richard…, Agent, Charleston, SC
Thu Jan 28, 2010
Government & unions have caused the unemployment problem.

Without government involvement, where would they be if the government did not extend unemployment? For the most part, the answer is WORKING. We need to provide both small business and industry tax incentives for hiring employees and for keeping jobs in the US instead of just punishing them with excess taxation.

People who work pay taxes & can afford to buy houses. I would vote for a "Fair Tax" (or flat consumption tax) and get rid of most of the IRS.
8 votes
Aaron Greene, , 05602
Thu Jan 28, 2010
The problem in this country is that we are still looking to the government to solve our problems. Only we the people and free markets can solve the country's problems. When government gets involved, as they did with the Community Reinvestment Act under Clinton, that's when these problems start occurring.
8 votes
Debbi(pa), Both Buyer And Seller, 08247
Fri Jan 22, 2010
Bill - I'm missing something here. What bold moves?

Unemployment rates are the highest in decades. Unemployed people don't buy houses. Short sales are NOT a happy thing. Who makes money on them, hmmm? Anyone? Anyone? Bill? And what do they do to comps for homes that are paid on time? Interest rates have been very low for several years -- and still home sales are stagnant at best. (And FYI, the President does not set interest rates.) Also, credit and appraisals are still tight for good buyers. Maybe you were just one of the lucky ones....

Hey, he's the one who made all the promises. None kept, not even "transparency." Forget healthcare - it's the economy, stupid. And let's not forget that the Home Buyer Credit actually started in 2008.

This blog is lots of fun, and I find it interesting that most of those who praise Obama don't provide specific accomplishments - just rhetoric or yet more Bush-bashing, while those against his agenda provide specific examples of where he has failed. Just sayin...
8 votes
Mari Bickmore, , Minneapolis, MN
Wed Jan 20, 2010
For those of you who make light of Fox being fair and balanced, have you taken a look at NBC News - bought and sold by the present administration. I hope you are not suggesting they, and others like them, are fair and balanced.
8 votes
Velma, , Farragut, TN
Wed Jan 20, 2010
Obama has been a phenomenal leader in one year...than "W" Bush was in 8 years. For a 'new kid on the block" (in skin color, lack of privileged upbringing, no political father as former president and role model) Obama earns a score of A+++
8 votes
Well said.
Flag Sat Apr 28, 2012
Royal, Home Buyer, 35046
Wed Jan 20, 2010
He messes up everything he is evolved in. Too much government.
8 votes
Dan Chase, Home Buyer, Texas City, TX
Fri Jan 15, 2010
4th quarter foreclosures 2009 were up 18% compared to 4th quarter 2008.

That seems like an "F" to me.

I saw something that said it cost $900,000 for each modification. Can I give a "Z" for that score? "F" seems way to high.

What needs to be done is the same thing that has ALWAYS been done. Let the market find its own balance.

If people do not pay their bills they lose the asset. It is that simple. Do not save the people who made bad decisions. Let the houses be foreclosed and be bought by someone who can afford it.

While at it, stop all loans to those who would not meet non-fha financing requirements. Maybe have fha offer lower down payments, but keep the rest of the stricter credit requirements intact.

bad credit rating = renter (simple equation)
8 votes
Paul Francis, Agent, Las Vegas, NV
Sun Oct 3, 2010
Blah, blah, blah about whether we should tax the rich more or not...

The bottom line is that this Administration and Current Congress (and the previous administration / Congress) have wasted hundreds of Billions of Dollars and until the big house gets their house in order, needing more money is not the solution to the problems.

The phony economy of the mid 2000's enabled local, state and the Federal Government to receive hundreds of Billions of dollars and they pissed it away.

That's the bottom line... You guys act like the Government has been starving for the past two decades which just is not the case.

Anybody who can't see / understand that has obviously never built a house on their own or run a budget with projections.

Would you give a GC who promised you everything for $1 Million another $4 Million after doing a crappy job and shoddy work??


When times were good, nobody was keeping tabs on the drunken orgy taking place in capital town U.S.A... now that it's bad people are paying attention and pissed. It's no different then incompetent contractors who are not watched when doing a job.... they'll drag it on and drain your money.

So... stop the whining / lame excuses and crying for more money.

You left wing socialist whiners need to whine more about getting a better return on investment then demanding more money.

I know you don't like to read anything but what is coming out of the Socialist Channels but here you go:…

Obviously enough money was not spent on education for basic Accounting and Finance principles...

The money was there and even more was spent but that's what you get for having people in control that have lived off of other people their whole lives.

7 votes
Scott Godzyk, Agent, Manchester, NH
Tue Jul 13, 2010
Create Jobs
Cut Spending
No more bailouts for big companies
Seal the borders
Address the 14 million or so illegals here and make them tax payers
Stop apologizing for America and promote America
7 votes
Gary De Pury, , Pasco County, FL
Mon Mar 29, 2010
I would be hard pressed to give a grade. First of all, It is unfair to grade a third grader taking a high school class. Obama is so unprepared for the job that it is simply amazing. So on that criteria alone, I just can't justify a simple grade.

Effort: He is trying to do what he thinks is best, but since I don't agree with his policies, I believe that he is trying to do what he thinks is best for the party and not what is best for America. If I had to set the bias aside, I would give a B for effort.

Results: Since he has only achieved one "stated" goal, and I think it will be overturned by the courts, then that is a solid F. Even Carter got more done.

Leadership: A good leader will inspire men (and women) to follow into the fray. Obama has lost all but his most ardent supporters. He would be a dismal Military leader....all talk but no action. Again, he does have some supporters and while the numbers continue to dwindle, they are there...That gets him a D.

Finally on integrity. Ummmmm. F sorry.

All in all, I guess I could give the man a D +, but even that is generous. I disagree with his policies and KNOW them to be poison for the future of our nation, I know him to be a socialist and propagandist, (I read his books) and I KNOW him to be a skilled liar, but beyond that....a really nice guy.

Just the opinion of a Pasco County Realtor,

Gary De Pury
7 votes
Trulia Curio…, , Cleveland, OH
Thu Jan 21, 2010
I am fortunate I escaped relatively unscathed from the housing crisis. Three years ago I was under extreme pressure from peers, co-workers, and real estate agent to purchase a house. And even though, I had a credit rating in the 850's, had a good paying job, and was approved for a large loan, I decided not to purchase, because the math just simply did not add up in my head when I estimated my total cost of owership. Everybody told, but "house prices will rise" so don't worry, but the thing is I wasn't planning to "buy and sell", but rather and "buy and live".

I took my OWN decision and had nobody else to blame for that (not the politicians, not my real estate agent, not my coworkers).

As it turned out, it was the right decision for me personally. I saw many of my friends suffer and stress through the home crisis and beg help from the banks and the government.

My company went through a round of layoffs and many people lost their jobs. I was one of the lucky ones that survived and dedicated myself to work harder (as a way to survive). When the elections came around in 2008, the economy was in the tanks. Since then (whether it is Obama or not), things have turned around for my industry and my company is back growing and profitable. The past few months, business has picked up and morale is higher. As a matter of fact, we are starting to hire. Our stock has risen from the lows and hit new highs, which provided additional income. On top of that, my hard work was rewarded with a promotion and my salary increased!

So, do I personally feel better now than before... the answer is YES! Was this thanks to Obama? I am not going to get into that discussion, some will say yes, some will say no.

But what I am going to tell you is that I TOOK MY OWN DECISIONS and DID WHAT WAS BEST FOR #1 (MYSELF). I did not hear about Politicians telling me to do one thing or the other, I did not give in to the pressure to purchase a house, I managed everthing that I could control around me, I watched my own pocket, I worked hard... and as I result in 2010, I am better off than I was in 2009 and 2008.
7 votes
Jed Lane, Agent, Petaluma, CA
Wed Jan 20, 2010
Wow Bitterness and anger! He should be impeached! Realtors are the cause of all the mess! Give him an F?
Give him a break - He inherited this situation and he is working on changing course of the country.
He's a tool of the uber-rich. GW was a tool of the uber-rich. Sometimes I think we Americans could be convinced that up is down and down is up.
How did Realtors cause Wall Street to experience this little liguididty hiccup, which is the cause of this whole mess. The uber-rich decided to not lend anymore because suddenly their assets looked shakey. Remember it was the money folks chasing profit that created the mortgage backed security and then figured out a way to slice and dice them into various risk factors.
Also remember that somebody on Wall Street thought up the brilliant concept of betting that the extended creditor would default. So I can lend my money to a person that doesn't qualify and buy a policy that will pay me my principal and maybe a profit too. In fact I don't even have to have any money lent to buy a policy that will pay me if a debtor defaults. Sweet!
And here we have fools (I have to be blunt) that think the President or Realtors caused this or hold the keys to turning it around as quickly as it crashed. Fools!
PT Barnum's quote is rumbling through my brain! "Never under estimate the stupidity of the American public"
7 votes
Doggfather69, Home Buyer, North Irwin, PA
Wed Jan 20, 2010
He has failed, he hasn't done anything he said he would. I didnt vote for him because I knew this was the case. Like some have said, hes a puppet to the dem machine. That party has gone off the deep end with huge cort take overs and taxes. Everyone buy a Gm car or truck because we own them. Terrible..
7 votes
Donna Westg…, Agent, Hermosa Beach, CA
Wed Oct 6, 2010
I think Obama has ignored the whole housing issue. So many jobs are effected by the housing market. I don't think he has a clue.
6 votes
rjfre, Landlord, Middle Island, NY
Tue Sep 28, 2010
Hiring in significant numbers will not occur as long as the rules of the game are up in the air. The Dems have the power to pass whatever they want as demonstrated with the most un-popular health care bill.

What the heck are they waiting for on taxes?

Business is waiting for the rules to be established before they hire in numbers.
6 votes
Scott Godzyk, Agent, Manchester, NH
Sat Jul 24, 2010
This woman applying for a job in a Florida Lemon Grove seemed too quailified for the job. The foreman frowned and said "i have to ask you this, have you had any expereince in picking lemons?"

She replied "As a matter of fact, i have! i have been divorced 3 times, owned 2 Chryslers, i voted for Obama and now i drive a Toyota."
6 votes
Mack McCoy, Agent, Seattle, WA
Sun Jul 18, 2010
- Without him where would they be? WINK WINK

Really, Gabriel? This is like saying, without arsonists, where would fire departments be?

The Republicans have the thinnest bench in the National League; when your leading candidates are Newt "ethics violations" Gingrich and Sarah "Grizzly" Palin, maybe it's time to go Yankee and see if John Edwards or Hillary Clinton are free agents.
6 votes
Jeanne Feeni…, Agent, Basking Ridge, NJ
Tue Mar 30, 2010
In response to "....the president can only do so much no matter who it is", I think this cuts to the core of my concern. I would like to see the president not do so much just to do SO much. The nation's "just do something and then the chips fall as they will" mentality - without testing the outcome or fully understanding the potential consequences - scares me. I feel a collective sadness and despair in the air and the tie to the housing market is that a crisis of the country's confidence will not help the housing market.

I think we'd all be a lot better off if the government would stop doing anything - they are mucking things up so badly and it will take us years to undo, if ever we can. What a huge mess.
Web Reference:
6 votes
Michael Mulv…, Agent, Severna Park, MD
Thu Jan 28, 2010
To Scott (Mision Viejo)

Stop drinking the DNC kool-aid!

1. There were 54 consecutive months of growth during the 2 terms of GW Bush, although household incomes didn’t grow as much as they could have.
2. Democrats had the majority in both houses of congress during the last 2 years of the Bush administration.
3. The republicans could not block anything this president has tried to do, or wants to do (until the new Massachusetts Senator is sworn in)… the dems have a large majority in the house and have/had a super majority in the senate. The president couldn’t get his own party to agree.

Last … look at the facts, not the democrat talking points. I’d like to think the president would do what is best for all Americans. If he would really do that, he’d have the support he needs. But he’s a just another politician.

Michael Mulvey – Pasadena, MD
6 votes
Patricia Sar…, Agent, Pensacola, FL
Thu Jan 21, 2010
In my opinion, Obama is doing as well as can be expected while dealing with the problems left from the previous administration. Has everyone forgotten that the bail-out was initiated by the Bush Administration? Don't blame Obama for having to finish out a plan that was not created by his administration. Don't blame either President for the fact the many people bought homes with loans they either didn't understand and couldn't afford. Absolutely blame lenders who granted those loans out of greed (not all lenders- there's a lot of good ones out there too). Don't forget that Obama was voted into office by a majority of the American voters who were sick of watching the previous administration do whatever they wanted with no accountability. At least Obama is trying to be bi-partisan and trying to get consensus on health care reform- too bad too many Congressman and Senators live in the pockets of the helath care lobbyists. True health care reform will not be able to pass because we do not live in a true democracy. Our lives are guided by the media and the lobbyists. I give Obama a B+, and only because if he had forced the issue of health care reform before the Massachuseetes elections, it may have had half a chance of passing. As to the Economy, it will get better in time- one year is not long enough to fix 8 years of bad policy and over-spending. Does anyone remember the balanced budget under the Clinton Administration???
6 votes
Mark Despain, Agent, Seattle, WA
Tue Jan 19, 2010
I would give him a C+ and I don't think there is anyone geiven the problems he inherited that could do a better job. Dubya's successor was left to try to pick-up and put the pieces back together. Sure there's alot wrong and some things could have been done differently. But IMHO letting the entire house of cards implode without doing anything but further cut taxes (free marketeers take note) is the same recipe that let the Great Depression take a firm grip on the economy.

I will add that I'm glad it's not my job or the job of any of the contributors here to make the decisions that Obama has had to make.
6 votes
Jed Lane, Agent, Petaluma, CA
Sat Jan 16, 2010
I don't think anyone knew what they were doing. They knew they had to act and it seems to have worked out OK as far as can be seen. It is only because we don't know how bad it could have been if they didn't takle the actions they took. Unemployement is too high, the banks are making too much money, the concentration of wealth is continuing.

When Alan Greenspan admitted that he had no idea that what happened could happen and that the economy was acting in a way that was not in the textbooks, all bets were off and obviouls Bush was lost. It seems that the money people just decided that they were taking all thier marbles and going home. With out access to credit the whole system tripped. Who benefited from the credit default swaps that AIG held? Who got paid when Wall Street failed?

Going forward the banks need to lend under realistic criteria. By creating and supporting the too-large-to-fail banks we are faced with too little competition, in my opinion. When the government stops buying mortgage backed securities the interest rates will be set by the large banks. As we are seeing now, they still only care for their profits not anything else. The consumer credit reforms going into effect in February has shown us that the banks will get their pound of flesh before regulation kicks in. Jacking up interest rates from 8 to 10 percent to 20 and 30 percent for people with outstanding balances. These few banks have become a vortex siphoning money out of the consumer.

The banks need better regulation and money needs to be decentralized. Chase had profits of 11 Billion in one of the worst years in America's history. 11 Billion while people all over the country are losing jobs and houses.

Maybe it’s time to go back to regional banks. Lend local money to local people and keep the collected interest in the local economy.

Also pass a 95% tax on any bonus over one million dollars. If a five star general like Petraeus can be paid $200,000 with a Phd. from Princeton why does a banker deserve hundreds of millions of dollars in pay and bonuses. There’s a cost to our society for allowing the brightest amongst us to be sucked into one industry that pays such large salaries for accomplishing short sighted goals.
6 votes
Carl Ben Wit…, Agent, Upper Montclair, NJ
Mon Feb 28, 2011
I believe Mack has written the truth of the current situation in politics, as clearly as can be said, and we all agree, don't we. Clarity is a virtue and he certainly has it. Fading unionism after decades of gutting by republican administrations has brought us only a few remaining industrys that are more in need. But the movement has kept all of us in a better position than we otherwisw would be in. History has shown that union pressure on livable wages, benefits and work conditions has rubbed off on the non-union industries and companys. But certainly workers rights to bargaining should not be taken away as we adjust to realities. Common sense dictates that negotiation and give-backs by union members are a normal reaction to tough times. Unilateral destruction of collective bargaining is not acceptable to any fair minded American. And we are fair minded aren't we?
5 votes
John Orfao, Agent, Olympia, WA
Mon Nov 22, 2010
I love liberals. They taste like chicken.
5 votes
gabriel palo…, Agent, Pompano Beach, FL
Sun Nov 21, 2010
Mr Mack the illusionist extraordinaire is herding the sheep off the cliff. He has the facts the numbers an of course the experience ( in what?) To sell you a bill of goods. It all sounds so nice it all sounds so good.
He feels your pain. He cries for you at night. He fights for your rights so you get that unemployment check.
He knows how it feels to be out of a job. He knows how it feels to loose his house .He knows what it is like sleeping on the streets. He knows what it is like going hungry. He is there with the poor lining with the food stamps getting his free meal. He does not pay taxes because he claims he is not making any. He does not have insurance for like you he cannot afford it. He knows that getting medical attention is better if it is free than paying for it. He knows that getting paid by the government and staying home and sharing his grief with you and get paid should continue for eternity and beyond.
He is angry at the wealthy. He is angry at the military. He is angry and jealous of anyone making a good living. He finds fault with government. He belongs nowhere. He incites and ignores people that do not agree with him. But when you take a real look at him he is just a real nice guy. The one you like to avoid. The one that talks on both side of his lips . The one that finds fault with everyone yet has not sliver of originality or back bone to stand on. He is the slippery slope the one that makes most everything look like a piece of cake long as he takes the first slice.
5 votes
rjfre, Landlord, Middle Island, NY
Sun Oct 10, 2010

It doesn't really matter whether "over-regulation" will lead to the extinction of chickens, but it does matter if under-regulation presents a danger to the public - to the people.

If there aren't enough chickens to produce enough eggs to eat, nearly everyone goes hungry, and all of society is in danger.

No suggestion was made that folks in true need should be cut off from goverment funding. We need a safety net. A much smaller targeted fraud free one.
5 votes
Shawn Furges, Both Buyer And Seller, Dublin, CA
Wed Aug 25, 2010
Debbie, where are you getting your unemployment data? Making data up doesn't count as fact.

According to the US Bureau of Statistics.

Start: (February 2001): 4.6%
End (January 2009): 8.5%

Start: (February 2009): 8.9%
To date (June 2010): 9.6%
5 votes
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