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Originally posted by Brian Scott That's quite the socialist take on the subject Current homeowners who can afford their mortgages (myself included) do not necessarily need the help.

When you lose 100k in equity on your first purchased home in the first 12 months, and your current job is now in jeopardy because of the shrinking economy, if you are not eligible for assitance then I am not sure who should be.

We cant just go as far as to say they just bought at a bad time in the market because so many others are to blame for ruining the housing market, government officials (barney frank) included.

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Originally posted by R!CH since you keep pressing the issue, i'll bite. it wasn't even a month ago you told us you're a registered republican, so you can quit telling me i came up with that on my own... http://www.tranceaddict.com/forums/...3037&forumid=60 and i'm sure you've said it before in one of the election threads as well...

I already called him out on that a couple pages back and this was his response

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Originally posted by djjoshuaallen yep its true, Im now a registered independant. I was registered as a republican when i voted for Al Gore in 2000, that was the point of the post.

It is all good though, T.A.R.D has come to his rescue.

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Eyad Allayla - drums cubana - di.fm - tribal house channel - twisted_techy_hooks

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Originally posted by T.A.S.D. That's the most hilarious thing I've read. All the Libtards like Starboy, R!ch, Clovis et al will shamelessly defend this pork-laden, losing bill out of their own masturbatory vanity and their pathetic sycophancy they hold for Obama like an 11 year old girl does for the Jonas Brothers. This bill is nothing more than a leap towards socialism and a strive (years in the making) for more power by the leftards who nowadays, seemingly are the masters of fear-mongering, sky is falling alarmists! What is also funny is that the intellectually absent libtards here (R!ch, clovis, starboy...) cluelessly yet sadly hold an improvident world view about this all and most likely will suffer from it the most. You see, big-government libtards who look to it for their happiness prosperity ultimately never realizes it. Thusly, they continue to bemoan over their trogdylitic lives in passive ways. Sad. But true.

whatever josh

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Originally posted by R!CH since you keep pressing the issue, i'll bite. it wasn't even a month ago you told us you're a registered republican, so you can quit telling me i came up with that on my own...

Since your so concerned, I was register republican when i first registered in 2000. And I just never felt the need to change that until the recent election a couple months ago. The theme has been, that shouldnt matter anyway.

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Originally posted by R!CH whatever josh

honestly, i couldnt come up with it if i tried.

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Originally posted by djjoshuaallen When you lose 100k in equity on your first purchased home in the first 12 months, and your current job is now in jeopardy because of the shrinking economy, if you are not eligible for assitance then I am not sure who should be. We cant just go as far as to say they just bought at a bad time in the market because so many others are to blame for ruining the housing market, government officials (barney frank) included.

The job losses will hurt the ability of responsible homeowners, but loss of equity should have nothing to do with it. You can still live in that house, and it's still worth what YOU we're willing to pay for it.
Property as with all other assets or investments is a gamble, and you have to be a fool to think it will always go up.

If you look at a graph of defualts vs. equity percentage, it shows clearly that people who bought houses they could never afford with nothing or very small deposits are in trouble, not the people who who got in to sensible mortgages or had normal deposits.

Go back just 25 years - it was unheard of to buy a house without at least a 15% deposit - most cases 20-25%.

If everyone had done that, they could in a worst case scenario, release the equity up to the value of their deposit to cover their mortgage for a year or so if they fall on hard time. Not great, but better than losing your home,

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Originally posted by Brian Scott This will stem the flooding of available housing on the market, which will in turn keep the pricing floor from dropping. Supply-and-demand comes to mind here.

Just what we need now, even less housing affordability. The one good thing that's coming of this mess is that the housing affordability index is improving, especially in places like California. Once you have affordable housing people won't NEED those ridiculous loans to get a home in the first place.

There's a difference between people not being able to afford their home because of the shrinking economy and those that got a low interest rate loan with the expectation that their home value would continue to decrease. I don't think the taxpayers should be punished for the latter. One of the fundamental investment rules is that gain is proportional to risk, and now that the risk has bit them in the ass they seem to expect the government to fix it.

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Listen to my Rainy Nights (TL)

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Originally posted by DJ RANN The job losses will hurt the ability of responsible homeowners, but loss of equity should have nothing to do with it. You can still live in that house, and it's still worth what YOU we're willing to pay for it.

The house market bubble is a large part of the problem, people were under the assumption they were building their retirement in their equity on their home over the past decade, now its gone and there jobs are in jepeordy largely because congress released restrictions on loans and inflated home prices enormously now that anybody could get a home.

And you are so wrong, houses are not worth what YOU were willing to pay for it, When the value drops 100k in value in 12 months. Yea you can wait it out, and hope for the value to rise, if you still have your job.

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Originally posted by starboy I already called him out on that a couple pages back and this was his response

Nitpicking (a true and typical libtard trait) over what the hell Josh's registration is has no relevance (libtards have no relevance) in the matter that this bill will FAIL and is simply Obama's way of vying for re-election already by "paying back" his supporters since he himself is realizing this early that his term will be singular.

The bill has in it, a tax cut for Hollywood studios. Blatant. Pelosi gets to protect her rat. Reid gets a rail to Vegas, although Vegas isn't too fond of Obama these days. Minnesota gets an ATV park. Brilliant.

Massive spending didn't work for Japan in the 90's; never worked in the past; won't work for us. Was it that old geezer McCain who called the bill "Generational Theft?" Free market Capitalism, fiscal conservatism, individual liberty to pursue and create opportunities unhindered by big and socialistic government is the answer.

No worries, DJ Rann and R!ch will continue to longingly showcase their libtardism with their incessant defense of this preposterousness. This is evident in the belief system held by R!ch that one should have the constitutional right to commit suicide, irresponsibly take drugs and have an abortion, and grandma shouldn't have a right to vote. The same R!ch who can't afford $30 dinners in Vegas and who even doesn't have a girlfriend. Or maybe no boyfriend either. So I've heard...

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Originally posted by djjoshuaallen The house market bubble is a large part of the problem, people were under the assumption they were building their retirement in their equity on their home over the past decade, now its gone and there jobs are in jepeordy largely because congress released restrictions on loans and inflated home prices enormously now that anybody could get a home.

Firstly, BUSH deregulated the finance sector. Secondly, you have to be fucking stupid not to factor risk on the equation with the single biggest purchase of you life. Those that have, will ride it out and in 5-10 years be back where they were (or better) when they bought it, but they will have paid off a decent chunk of their mortgage and therefore get more money back of they sell or decide to release equity.

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Originally posted by djjoshuaallen And you are so wrong, houses are not worth what YOU were willing to pay for it, When the value drops 100k in value in 12 months. Yea you can wait it out, and hope for the value to rise, if you still have your job.

No, the house is worth what YOU were willing to pay for it - it's only if you try to sell it after the price has gone down that it's worth less to you - get what I mean?

If you stay in it, with the terms of the mortgage YOU chose, well then that's what it's worth to YOU.

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Originally posted by T.A.S.D. Or maybe no boyfriend either.

keep dreaming. even if i was gay i wouldn't go for a guy in his 30s that still goes to raves (lol). i am flattered by your attempts to court me, but you're barking up the wrong tree. don't give up on love though, it's probably just one light show away!

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Originally posted by DJ RANN No, the house is worth what YOU were willing to pay for it - it's only if you try to sell it after the price has gone down that it's worth less to you - get what I mean? If you stay in it, with the terms of the mortgage YOU chose, well then that's what it's worth to YOU.

You just dont get it do you. If your job is now in jepeordy because of the failing economy, how do you ride it out for 5-10 years? This is why they need help, in order to do that. They cant sell, because they are all upside down 100k.

Its like unemployment benifits, but for those who actually pay taxes and own a home, get it?