This Is Getting Ridiculous

Smile… wave… offer some advice:

http://news.yahoo.com/s/ap/20090409/ap_on_re_us/obama_housing

Mr. President, if, in fact, you wanted to change the landscape, please do not offer the same ideas that we have been trying for the last 2 years!

The rates have been this low for at least a year.  They cannot go any lower.  Everyone who affords their home and has good sense about their money has already re-financed.  The problem with the housing market is that there are too many people in houses they can’t afford.  Therefore, they have been getting behind in their other bills, ruining their credit.  They could not refinance if their life depended on it.  Additionally, they are upside down in their home AS IT IS because of the downturn in the market and they can’t show the values it takes to get mortgages approved.  Therefore having money in the banks to refinance can’t HELP!  They are going to have to let them go and let the home values adjust to the mayhem. 

Hey, I don’t like it either.  My own home is suffering in values and that’s the lousy thank-you I get for actually paying my mortgage.  But, it’s the truth and we’re hanging here with a noose around our neck not knowing when the bottom is gonna drop out.  IT WILL!  And the agony is worse than the inevitability.

Stimulate small business so they can give these people a RAISE so they can pay their mortgage!  It’s that simple.

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