Please vote in this poll using the sidebar.
McCain / Obama: Does it really matter vis-Ã -vis the housing meltdown?
- Absolutely, it matters a lot. (26%, 49 Votes)
- It probably matters some. (18%, 34 Votes)
- Not really. (48%, 93 Votes)
- Who the heck knows? (8%, 16 Votes)
Total Voters: 192
This poll will be active and displayed on the sidebar through 09.07.2008.
Obama or McCain will say something you like to hear to phish your vote. They cannot solve the housing meltdown.
National debt is over $9.66 trillion and is ticking up $1.92 billion per day or $2.22 million per second. This means that every American, old or young, rich or poor, able or disable owes additional $31,700 to Chinese, Arabs, Venezuelan, Japanese, Russian, German and British through Treasury bills, notes, bonds and Fannie Mac, Freddie Mac’s mortgage-back securities which are de facto guaranteed by Uncle Sam. My question to Obama or McCain’s campaign motto is simple: Where is the beef?
Many foreigners have gobble up prime US real estate and corporations. Like it or not, one day we may all work for a foreign boss and pay rent for a foreign landlord.
I don’t think it will matter one jot as to whether McCain or Obama is elected. There are no easy fixes that will help prevent the great credit unwind from proceeding, regardless of which leader is in place.
Moreover, political expediency will lead ALL politicians to opening the socialist spending floodgates in a vain attempt to prevent a crash. Just look at how Bush wound up signing on to GSE bail-outs and stiumulus spending, and he talks a far more conservative game than either Obama or McCain.
Heck, back in the ’30s even Hoover (a Republican) was bending over backward to try and prove that he could blow tax-payer money faster than the democrats could with any number of pea-brained stimulus schemes. Things won’t be any different this time around.
IMO, it all comes down to debt.
Neither of them can fix it. I really hope that people don’t base their vote solely on who promises to help home”own”ers out more.
Obama and a Democrat-controlled Congress will probably do slightly more to implement policies to reduce the chance of it happening again anytime soon (i.e. add some regulation back into the banking/finance industry). Day late, dollar short there.
It is not possible for the cost of ownership to be higher than the cost of renting in the long run. That’s all there is to it.
The only way to keep house prices from falling is to bring rents up, and the only way to do that is to bring wages up.
Real wages have been stagnant or falling for a generation (since you know who became president). To turn this trend around would be the greatest challenge since WWII, and it’s not going to happen any time soon.