The Republicans have got to get their $h*t together! That’s all there is to it.

The Republicans have got to get their $h*t together! That’s all there is to it.

word; the rich will get richer, the nanny state will grow, and those in the middle who work hard and play by the rules will fall further and further behind. i’m afraid however that many here have accepted “trickle-down” reaganomics as the solution, which will never work.

if we give corporations their way, they will move all their factories to mexico and bangladesh and pay a fraction of american wages, while selling their products here in america at full-scale american prices. that’s not good for america.

The bank takes the compound interest first so, if you lose your house (as a friend of mine to whom the bank sold a bill of goods – adjustable interest – which increased her monthly payment from $1500 to $2500 in five years….)you lose the house and everything you paid into it )my friend lost $158,000.If you are lucky and you pay for that house three times its worth (add bank rent payments, real estate taxes, insurance – so the bank does not lose any money if it burns down…..) and you will get what that house really cost you. Then, if you fall on hard times and you cannot pay real restate taxes, the government takes it. Does that sound like a “homeowner”? The whole “home ownership” stinks. For the so-called right to be a “homeowner”, you pay through your teeth to the bank, real estate taxes to the government and insure the property against all risks so that those that really own the property are safe.

the catch-22 is that the areas with “good” jobs also have ridiculously high housing costs. if you lived where i live you could easily buy a house on 52K/year, but good luck finding a job that pays that much here (western SD).

you won’t find much sympathy on this website, though; it seems to be comprised mainly of people who think “the rich deserve to be rich, the poor deserve to be poor.”

With any increase in supply not met by an equal increase in demand those prices are going down.

While the change in this deduction does not go into effect until 2011, the market will price it in almost immediately.

You are right, the areas with higher home prices, primarily the coasts will be more impacted by this change.

Larry can you explain what will happen if everyone who has a mortgage tries to sell their houses at the same time before the deduction expires?

I am glad the Rs are gone. With help from the Ds during the last 2 yrs they destroyed this economy and so much more.

But the Ds seem like they are trying social engineering at exactly the wrong time with the precarious economy. I am really scared.

And their whole approach isn’t realistic toward those of us who live on both coasts where the cost of living is so high. In my neighborhood in Marin County, CA many of the houses were bought by professional couples probably earning about $250,000 together but here they really are upper middle class and will lose their homes if they have no mortgage deduction and if their taxes go up.

I “hope” all these upper middle class liberals who have 2 BO bumper stickers on their cars are happy now.

The Great Depression of the Aughties, otherwise known as the Obama Depression.