New York Post, March 16, 2024 Joe Biden is once again taking a ‘wrecking ball’ to America’s housing market by James Bovard Would you be willing to save a few hundred dollars on a car purchase if the seller seemed squirrely and didn’t have the title to the car? Unfortunately, you will be on the […]
Banks are sticking to green pledges that will see thousands turned down for mortgages if they don't spend a small fortune making their homes more energy efficient, despite Rishi Sunak's climbdown on Net Zero.
The post Thousands Face Being Unable to Get a Mortgage Under Bank Net Zero Rules appeared first on The Daily Sceptic.
Biden’s Wrecking Ball Benevolence for Homebuyers by James Bovard When did being creditworthy become a federal crime? The Biden administration is intentionally punishing homebuyers with good credit scores to subsidize people with shaky histories of paying their debts. But the latest salvation scheme ignores the sordid history of federal policymakers ravaging homeowners they promised to […]
I was on WMAL Washington radio yesterday with Larry O’Connor to pummel Biden’s mortgage mandate madness. He liked my line: “The easiest way to ruin somebody’s life is to give them a mortgage they can’t afford.” The furor over this policy is spurring House Republicans to seek to block the Biden administration’s boneheaded “reform.” Here’s […]
77 WABC‘s Rita Cosby had me on her New York radio show to talk about my New York Post oped on Biden’s bizarre scheme to punish creditworthy homebuyers to subsidize bad credit risks. Giving people mortgages they can’t afford can ruin their lives. Biden could repeat the 2008+ housing crash that devastated Blacks & Hispanics. […]
Guess what, renters? You no longer have to pay rent! Guess what, owners? You still have to pay your mortgages and taxes. What will that do to you? You know: It will strip you of the property you own (unless you own it outright), but even then, the lack of income from rents will drive you […]
source / The Money GPS The subprime mortgage crisis was contained they said. Nothing to worry about. No chance of a financial crisis. No chance of a collapse. But what happened? Exactly what they said would never happen. All through the entire crisis, they downplayed it. Today, there are still millions who have never really […]
source / The Money GPS A crisis has not been cancelled. It has only been delayed. More stimulus and quantitative easing has only exacerbated the issue of way too much debt. This is a fundamental understanding of the central bankers and technocrats which is why it must be an intentional action. But does anyone realize […]
The bill would establish a fund for mortgage holders to cover losses from the canceled payments. Bank losses would be transferred to taxpayers. It would also fund the purchase of private rental properties by non-profits, transferring hard assets from private hands to governments and so-called non-profit institutions.
Fannie Mae on Wisconsin Avenue, in northwest Washington. (AP/Manuel Balce Ceneta)
So what do you do when a massive student loan bubble results in crippling leverage for an entire generation of your population rendering them financially unqualified to obtain mortgage financing and their ‘God-given right’ to a slice of the ‘American Dream’? Well, you simply change the rules to allow mortgage lenders to ignore all that pesky student debt…anything less would simply be evil and potentially racist, sexist and all sorts of other -ist words.
