Obama mulls rental option for homeowners

Quote from blackjack007:

it's a creative idea but won't work for this reason...

the people who are at risk of foreclosure probably have no liquid assets, little or no income, and poor credit. if you were a landlord, would you want to rent to someone like that? most likely you'd require a security deposit and first/last month's rent, which would amount to thousands of dollars. the tenant won't have that kind of money, therefore they wouldn't qualify for the rental anyway.
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And, if the tenant can't fork over the house payment, he's going to have trouble coughing up the rental. Further, imagine what the majority of these "intellectuals" are like. They bought a house and couldn't afford to make the payments. As time marches on and they realize they're about to be kicked out of their house anyway, that security deposit'll need to be 10 or 20 large to cover the damage.

But The One can promise the government will pay, so we can tack on another couple hundred billion to our grandkids tab.
 
Quote from Bob111:

http://news.yahoo.com/s/ap/20090715/ap_on_go_pr_wh/us_obama_college

you vote for it....





mark my words..if somebody like ByLo suddenly disappear and stop posting here, on ET-RUN as far as you can..because we all will pay for what we are saying here sooner than later..
they did give us some time to fix passports-so you better use it..
and hey..this guy is saying-i will fix everything in my first term...
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Normally when a country is getting all crazy like that, they shut the borders. Obama cant really do that without the rest of the world seeing him as a dictator. So he does the next best thing. He tries to get all american owned foreign bank accounts.

Thats actually a scary thing if ByLo dissappears one day. Cause that means I would be next.

Of course what would happen really is we disappear in real life and some government agents post under our names their propaganda. So if you see bylo or myself one day yelling "green shoots everywhere" You will know.
 
The idea is practically European state socialism. Why buy when we can be renters of the state.

A genius strike, solve the mortgage problem and lead people to socialism at the same time, producing a whole new generation actually happy about it.

The European example shows that socialism can progress pretty well as long as there are "haves" from whom to take. But the day of reckoning comes when the socialist machinery runs out of barons to rob. It can be a very long time, as European (still up and running) and Soviet Union (collapsed after some 70 yrs) examples show.
 
Quote from bl33p:

The idea is practically European state socialism. Why buy when we can be renters of the state.

A genius strike, solve the mortgage problem and lead people to socialism at the same time, producing a whole new generation actually happy about it.

The European example shows that socialism can progress pretty well as long as there are "haves" from whom to take. But the day of reckoning comes when the socialist machinery runs out of barons to rob. It can be a very long time, as European (still up and running) and Soviet Union (collapsed after some 70 yrs) examples show.
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As a Ducthman, I wouldn't dream of ever moving to the US since taxes are so much higher there. On the whole taxes are lower in Europe and governments more efficient.
 
Quote from FerdinandAlx:

As a Ducthman, I wouldn't dream of ever moving to the US since taxes are so much higher there. On the whole taxes are lower in Europe and governments more efficient.
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As nearly every American knows but somehow completely forgets at the polls: The problem is a VERY deceitful, VERY wasteful Government. A Government that is effectively a large welfare system.. A parasite that is slowly killing it's host like Kudzu. A cancer like an operating system so large programs struggle for resources, therefore our Government is busy buying more RAM instead of trimming itself.

The placidity of Americans is becoming legendary. A paycheck and a six-pack and all is well.
 
Quote from TraderZones:

Watch out for those "Ducts"

but the reality is: http://en.wikipedia.org/wiki/Tax_rates_of_Europe
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Montenegro looks good. who are they ? European-Africans living in mountains? :D

the reality is that after you sum all US taxes-you will be ahead or at least not far away from most European countries. many of them do have something for "free" like health care,education, while in US nothing is for free. on positive side-no taxes on food ..no wonder why most of them are obese..
 
Still have a problem with a small question: What makes it more likely for someone to able to make a rent payment as opposed to a mortgage payment assuming the payment is the same? The pride of paying for the thing is gone. Anyone peeked at rental leases in some states? I hear a huge sucking sound since the only way on earth it can remotely work is much lower payments.
 
Quote from retire45:

Still have a problem with a small question: What makes it more likely for someone to able to make a rent payment as opposed to a mortgage payment assuming the payment is the same? The pride of paying for the thing is gone. Anyone peeked at rental leases in some states? I hear a huge sucking sound since the only way on earth it can remotely work is much lower payments.
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Not to be confrontational, but what makes you assume the rent pmt would be the same as the mtg pymt?
And, you also assume everyone feels pride in paying for a house.
Why?
 
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