Lets talk mortgage crisis and homes ? What do you think?

Question

The Democrat mortgage rescue plan passed in congress is intemded to save 400,000 families from losing their homes, which I applaud.

But according to the Democrats Bush has entirely screwed up the housing market.

Is that why there are 17 million new homeowners since Bush took office?

Answer 1

Is there a question in there?

I don't applaud bailing out people who overextended themselves.

Also, I don't see how Bush enabled 17 million homeowners.

Answer 2

The president has no control over the real estate market.  The problem was deregulation and hedge funds.

....all rescue plans that I have seen only prolong the time that people stay in homes that they cannot afford.  The idea of keeping those people in those homes they can't afford doesn't help the homeowner...cause they will likely lose the home anyways.  It helps the banks by mitigating the downward curve and slowing down their losses....while the market sorts itself out.