Gosh that is dramatic – it would be nice to think this was the result of prudence, but more likely the tightening of credit. Does household borrowing include mortgage borrowing I wonder.
It would be very interesting to see the graph for household saving.
10 months ago the Obama Administration announced a $75 Billion plan to save 4 million homes from Bankruptcy at an expected cost of $18,750 per mortgage (house). They have now spent $27 Billion saving only 31,000 mortgages at $871,000 per home!!! The national avg home price is $177,900…so we would be better off just buying everyone a new home…it would be $608,000 cheaper per home. — And these same people intend to run our healthcare!!! God save us all.
They are stealing from my children and grandchildren. This money that they are paying isn’t just coming from the money tree…the Federal Reserve Notes are certificates of debt that our descendants will be paying off for the rest of their lives.
I have posted these numbers before, but 1 Billion Dollars would pay of a $100,000 mortgage every day for 365 days a year for the next 27+ years. The average mortgage principle owed is only around $67,000. So, who were these 31,000 people that had their $871,000 mortgages paid off at our expense? Why are folks with $871,000 mortgages getting ANY taxpayer money to bail them out? This is a transfer of money from the middle class to the extremely wealthy pure and simple. It makes my blood boil! And this part of the mess is strictly at the feet of the Obama administration and the Democrats currently in congress. SHAME! Hiss! Boo! Bad show! I loath them for what they are doing. (I also loath the Republicrats for what they did last fall.)
Gosh that is dramatic – it would be nice to think this was the result of prudence, but more likely the tightening of credit. Does household borrowing include mortgage borrowing I wonder.
It would be very interesting to see the graph for household saving.
10 months ago the Obama Administration announced a $75 Billion plan to save 4 million homes from Bankruptcy at an expected cost of $18,750 per mortgage (house). They have now spent $27 Billion saving only 31,000 mortgages at $871,000 per home!!! The national avg home price is $177,900…so we would be better off just buying everyone a new home…it would be $608,000 cheaper per home. — And these same people intend to run our healthcare!!! God save us all.
They are stealing from my children and grandchildren. This money that they are paying isn’t just coming from the money tree…the Federal Reserve Notes are certificates of debt that our descendants will be paying off for the rest of their lives.
I have posted these numbers before, but 1 Billion Dollars would pay of a $100,000 mortgage every day for 365 days a year for the next 27+ years. The average mortgage principle owed is only around $67,000. So, who were these 31,000 people that had their $871,000 mortgages paid off at our expense? Why are folks with $871,000 mortgages getting ANY taxpayer money to bail them out? This is a transfer of money from the middle class to the extremely wealthy pure and simple. It makes my blood boil! And this part of the mess is strictly at the feet of the Obama administration and the Democrats currently in congress. SHAME! Hiss! Boo! Bad show! I loath them for what they are doing. (I also loath the Republicrats for what they did last fall.)