It is “outright loss for the taxpayer,” said Blinder, an Obama supporter who said he has answered queries from the Obama campaign. “I don’t see why anybody, Republican or Democrat, would want to do that. Ironically, you would be giving the biggest gifts to the lenders who made the worst mortgages.
Vulture investors buying foreclosed homes are likely the key driver of the rise, but sales are sales and they all take inventory off the market,” said Ian Shepherdson, an analyst at High Frequency Economics.
There are a lot of daily challenges that Americans are facing in meeting this full array of housing expenses and incomes just haven’t risen as much to be able to allow people to afford it,” said Maya Brennan, who co-authored the study. “Utilities especially are looking like they’re going to go up since 2006.
They’re just not selling if they have low water,” appraiser Mary Thompson said Tuesday. “People are kind of waiting and watching.
Well, John McCain didn’t waste any time. In response to the first question of the second presidential debate, the Arizonan offered to buy back any mortgage in America that’s worth more than the value of the home. Since maybe as many as 40 percent of the homes in America may be under water—that is, the mortgage is worth more than the home—that’s quite a tall order, one that makes the $700 billion bailout/rescue plan look like bubkes.
