K-State Economist’s Research Suggests Low-Income, Vulnerable Homeowners Need Support After Purchase to Avoid Foreclosure or Having to Sell Their Home

In other words, they say that, because these favored minorities can’t pay the mortgages based on affirmative action lending, we need to start another welfare program to pay their mortgages or parts thereof. Yet, I bet they would want them to keep the entire equity buildup, even as they want the Feds to help make the mortgage payments.

All of this was to assuage the usage of what is stereotypically known as “welfare.” How is this any different?

This seems to have become a problem after the Government’s criminal real estate industry convinced the public that home ownership is “an investment” , rather than an expense. Not surprisingly, “Blacks” wanted to get in on this sure fire “get rich quick” scheme.

Previously, “Blacks” would normally rent, and once the nest was soiled, happily move on. The result was that only the landlord was affected, leaving him with the burden of cleaning up the mess.

As the world has seen, widespread “Black” ownership has resulted in more far reaching problems. The result may be the ushering in of a worldwide business contraction as a result of bundling up the mortgages and trying to stiff foreign Governments and investors with them.

Ronald

The Liberal Democrats want to superimpose a European sense of thrift, hard work and pride onto 3rd Worlders who have little or no understanding of the Protestant work ethic.

In the end, the subprime movement turned into a large Section 8 housing boondoggle…when, in the end, the taxpayer pays either way…the only short-term benefit was a 5-year spending frenzy where people ran from the escrow company and made a beeline to Circuit City to buy flatscreens then a new SUV.

Property values are based on the three L’s…location, location, location…do the math on your neighborhood now…are you near an employment center (white people working)? Are you in a school system that isn’t overrun with minorities (white students)? Are you in a neighborhood that has low crime (white areas)? Then your home will eventually appreciate again.

If you are like me and notice some “others” moving into the neighborhood, you need to sell when you can as when an area goes Black or Mexican, it never, ever recovers, despite Jimmy Carter/Barney Frank/Bill Clinton’s CRA Act or any other Liberal excuse for redevlopment (see Baltimore, Oakland, LA, Detroit).

All is free! (if you are a certain color)
If you are White, forget it. It’s you who pays, sucker!

I have been watching the aftermath of the departure of some Section-8 HUD renters near me; the renters were basically running the 2-bedroom, 2.5-bath unit as a flophouse, probably with most of their housemates living in the basement. Construction crews have been in the townhouse for more than a month. My wife and I have watched them remove the following:

1. All of the carpet.
2. All of the linoleum.
3. All of the bathroom fixtures.
4. All of the kitchen cabinetry.
5. Sheetrock.
6. Broken wall studs.

That place must have been completely destroyed inside. I imagine an “owner” who was making interest-only payments on his house while maxing multiple credit cards out on bling isn’t likely to take care of a home any better than these folks did.

My HOA passed a new rule this autumn which prohibits any individual or corporation from renting out more than two units in the neighborhood. In Colorado, HOA rules like this have the force of law. As a result, the owners are moving into the unit; a win-win situation, as the neighborhood becomes that much more owner-occupied, and a pair of liberal moonbat neighborhood-wreckers learned something about Section-8 HUD renters.

Ronald said the result “may” be the ushering in of a worldwide business contraction. We’re already seeing it, and precisely for the reasons he mentioned; the “non-performing” (bad) mortgage loans were packaged as “tranches” and resold all over the world. We will probably see three hedge funds fail for every bank that does.

BUYING a house is the easy part. MAINTAINING it is hard work!

To properly maintain a house, you must have:

1) Self-discipline to budget money for future maintenance & repairs.
2) Foresight to take care of small problems before they become big.
3) Intelligence to understand how things like tools, plumbing, wiring, roofing, drainage and lawncare work.
4) Energy to spend your free time doing home fix-it jobs instead of sleeping late or partying.
5) Sense of responsibility for your own well-being, not an attitude that bad things just “happen.”

It is much easier to let things break, and then call the landlord.

“Property values are based on the three L’s…location, location, location…do the math on your neighborhood now…are you near an employment center (white people working)? Are you in a school system that isn’t overrun with minorities (white students)? Are you in a neighborhood that has low crime (white areas)? Then your home will eventually appreciate”

I can name a community that is 50 percent MINORITY in which a 3 bedroom home goes for an average of $900,000, schools score in the 90th percentile and above, and crime rates are less than one fifth the national average. Here is why:

http://cupertino.areaconnect.com/statistics.htm

You guessed it; the minorities are Asians!