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View Diary: Thank You President Obama! I was helped by the $26 Billion Settlement. That's why I'm a Democrat! (280 comments)

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  •  I want to be more specific... (2+ / 0-)
    Recommended by:
    joedemocrat, KenBee
    spectacular historically low mortgage rates in the last 3 years. Whenever people say "but what has he done for us middle class folks?" I'll just tell them- look at your mortgage interest rate.
    I have purchased 6 mortgages all under 4% in the last 3 years which is a extraordinarily positive alternative to the traditional 401k retirement fund. However it's only partially the interest rates creating that positivity. The major factor is the below rock bottom real estate prices of a still high volume of foreclosed properties. Also, the rising needs for rental units. What is a gain for some comes at a loss from others.

    What's driving the settlements is the desperate search for a bottom to real estate prices which is still elusive.

    If you credit Obama with low interest rates (which I do not) then would you also credit him with the continuous flow of foreclosed and severely low priced homes?
     

    Eliminate the Bush tax cuts Eliminate Afghan and Iraq wars Do these things first before considering any cuts

    by kck on Sun Apr 22, 2012 at 11:59:36 AM PDT

    [ Parent ]

    •  I'm not totally understanding your point (0+ / 0-)

      that the high volume of foreclosed properties leads to low interest rates. I don't see why there is such a linkage.

      Also- it is indeed partly Obama's doing that we continue to have this prolonged foreclosure crisis. And yet from another standpoint- the confluence of low interest rates and low housing prices means this is a tremendous time for home buyers and investors.

      •  They're coincident, with some cause & effect (0+ / 0-)

        The residential real estate industry is a key focus of economic malaise...interest rates, and prices, will continue to stay low to spur growth...growth is impeded by the mortgage crisis...

        The rest we're in agreement on.

        Eliminate the Bush tax cuts Eliminate Afghan and Iraq wars Do these things first before considering any cuts

        by kck on Mon Apr 23, 2012 at 08:23:48 AM PDT

        [ Parent ]

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