Thursday, March 05, 2009

Obama bails out the housing ATM

Diana Olick has an issue with the Obama homeowner bailout plan.


  1. If you are a renter with a huge down payment, like me...

    The best thing you can do right now is to figure out how to invest it offshore in another currency. Obama seems to be doing everything he can to prevent us from buying a home. US money will be completely worthless in the near future. Put it somewhere else, pull it back out when our dollar is worthless and then take the original down payment and then buy 20 houses with it!

  2. For all the complaints from "responsible renters" about morality, &tc, &tc... The "responsible" thing to have done over the last decade is to do whatever the dominant demographic was doing.

    Anyone with half a brain and the slightest grasp of history could have forseen that the great masses of middle-class voters are not going to be allowed to fail. As for the "morality" of it all, tell it to the native Americans...

    Oh, noes! Life is not fair!


  3. "are not going to be allowed to fail."

    not going to be allowed??? Whats going to prevent the failure? The bailouts? HA!

    Again, best put your money in a currency that is not quickly becoming the next banana republic.

  4. ibc,

    How many more times you gunna copy and past the same innate drivel?

  5. @Anon 9:51

    I'd type up a more nuanced response, but I'm on the phone with my lender working on rolling all my HELOC and credit card debt into a 2% 30-year-fixed mortgage.

    Knew I shoulda bought a bigger place!

  6. Yeah I dont have that problem being on the phone....I owe $0 on my credit card and have $80K sitting ready to buy up a REO property next year.

  7. Cool! Keep on working hard and paying those taxes. We appreciate it!

  8. "Keep on working hard and paying those taxes."

    Another reason to go offshore.

  9. Where are you going to put your money? The GLOBAL economy is slowing down, not just the U.S. economy. The front page of today's NYT even says that the dollar has risen against the basket of other currencies. Collapsing home prices are hurting Europe, too, ya know.