Laboring toward the weekend

Darrel In Edinboro, PA — Fri, 31 Aug 2007 17:06:11 GMT

It's nice to know that a "moderately-priced" home is in the lower $400,000's. Maybe if I save my entire gross salary for the next 11 years, I can afford to live with the "moderately-paid" folks in this country........

Laboring toward the weekend

Jackie Rawlings Riverside California — Fri, 31 Aug 2007 18:09:41 GMT

Chris Ben Bernanke is just following orders as Paulson does his thing. The so called loan program will be like the Katrina money. Yes a few friends will be saved but buyers of big business will take over. Remember George W. Bush failed at the three businesses he's Daddy gave him it's all three strikes and your out. Now who would follow a business man who all losers and no winners. Bernanke was appointed to do just what he's doing following orders of big business. More companies are closing and people are losing their job yet Ben paints a rosey picture that is more like the Twilight Zone.
This all started in 2000. Big Business gave to the Republican election and then was given open door to do as they wanted. Cheney had the policy to listen to calls read mail and there by allow big business friends to eat up smaller ones. The spying system set up for not for terrorist as much as it was for big sharks to eat little sharks. Yes things got out of hand as every crook came out and got as much as he/she could while Bush left the door open. Laws changed under the Republican controlled Congress as we noticed favors were given for a fee. Don't think Senator Craig's problem is only the men's bathroom, he was involved in the Duke " Top Gun" Cunningham scandal too. Connecticut Senator Deluca has also plead guilty to a case involving organized crime businessman. Chris we're in this mess because the rats got in the kitchen and now we need to clear them out. Countries don't trust the US anymore and even Americans are afraid they wont have jobs. The US debt is so high right now each man/woman/child in American would have to pay in taxes about 29,000 dollars to put this economy right. Bush is still spending as he ask for 50 billion dollars no questions asked and for reasons that are none of our business. The 109th Congress gave a blank check and everyone took advantage of the open door.

Laboring toward the weekend

David, Fairfax, VA — Mon, 03 Sep 2007 04:45:49 GMT

Over the course of the next year there should be an extraordinary opportunity for home buyers to take advantage of the mortgage ARMs established during the height of the housing boom. All of the 3-yr ARMs implemented during the peak of the boom (late summer of 2005) will be adjusting throughout '08, and if the Fed doesn't step in, there will be a ton of defaults driving home prices down. Since many buyers got into the market with 100% I/O loans, they won't be able to handle the rate adjustments unless they put down tens of thousands of dollars and refinance. Homes won't appraise for what they did for in '05, and if lenders aren't willing to work with their customers, then short sales and foreclosures will continue to rise creating a great opportunity for buyers who couldn't afford to purchase during the previous 5 years. Creative financing needs to be implemented by some of the larger lender institutions in order to thwart the rise of defaults.