Manonthestreet
Diamond Member
- May 20, 2014
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And Condos and apts are going up all over.....makes ya go ...hhhmmmmmmBush's government down payments created a sudden 22,000+ annual increase in housing demand & price that got everyone drinking the Kool-Aid. Bankers & investors now saw the house as a value increasing asset backing the loan instead of focusing on the debt quality of the borrower, so they jumped into subprime lending. Bush's 2003 skyrocketing 700% increase in subprime lending it the proof! Again unsustainable Republican government market manipulation created an enormous feeding frenzy home loan bubble!More lies & denial from you covering for your party!
There was a sub prime problem the day the Clinton admin and Congress started passing "Homes for Everyone". It just took till 2003 before it could no longer be hidden.
There was nothing to hide until 2003! Only 2% of loans were made to barely subprime borrowers until then & less than 1% of them defaulted. Then along came Bush & the Repubtards who changed the scheme handing out down payments for mortgages to 10's of thousands of irresponsible idiots who couldn't afford the home.
Then along came Bush & the Repubtards who changed the scheme handing out down payments for mortgages to 10's of thousands of irresponsible idiots who couldn't afford the home.
Tens of thousands? That's hardly the difference between 2% subprime and 14% subprime.
Your theory needs a little work.
Bush's government down payments created a sudden 22,000+ annual increase in housing demand
22,000 out of how many?
There are more empty houses today that ever before.
It is estimated there are 30% more vacant homes in America now then before 2008