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View Diary: What President Obama can do for the economy without Congress: Mass mortgage refinancing (93 comments)

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  •  Imagine the outrage from the right. (4+ / 0-)
    Recommended by:
    Alice Olson, TomP, sherlyle, Matt Z

    "Screw those little people, MY McMansion needs a bail out!"

    Popcorn is ready!

    Never confuse kindness and patience with stupidity and weakness!!

    by Joes Steven on Tue Jan 10, 2012 at 08:54:11 AM PST

    •  The outrage... (0+ / 0-)

      ...would be from poor renters for whom this action makes homeownership an ever receding mirage.

      (-5.50,-6.67): Left Libertarian
      Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

      by Sparhawk on Tue Jan 10, 2012 at 10:52:23 AM PST

      [ Parent ]

      •  Not Sure (1+ / 0-)
        Recommended by:
        KenBee

        This is clearly a subsidy to people who already own homes, but ...

        Would this affect house prices in some way? Those are still going to be set by demand and the ability of buyers to borrow what they need to purchase, right?

        "I'll believe that corporations are people when I see Rick Perry execute one."

        by bink on Tue Jan 10, 2012 at 11:04:01 AM PST

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        •  less walkaways, less scam foreclosures (0+ / 0-)

          less worry, more confidence, higher prices paid for housing..all incremental.

          renters won't see a dime of it, maybe even   higher rents if less unoccupied housing means higher rents.

          ..squinting all the while in the glare of a culture that radiates ultraviolet consumerism and infrared celebrity...Russell Brand

          by KenBee on Tue Jan 10, 2012 at 05:45:50 PM PST

          [ Parent ]

      •  A cratered economy does poor renters no favors (1+ / 0-)
        Recommended by:
        billlaurelMD

        The first job is to fix the economy. Rescuing the housing market is part and parcel to that.

        Or would you rather the US go into a lost decade or two like Japan post their real estate bubble? Do you think that's good for poor renters?

        •   'lost decade in Japan' was refuted, lost for 1%rs (0+ / 0-)

          here yesterday as being ' lost' for the big corps who own the media and affect the memes, but not so much for the 99%..can't remember where I saw it, even had numbers with it.

          ..squinting all the while in the glare of a culture that radiates ultraviolet consumerism and infrared celebrity...Russell Brand

          by KenBee on Tue Jan 10, 2012 at 05:48:48 PM PST

          [ Parent ]

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