The Obama administration failed to release a report today on how Freddie Mac and Fannie Mae could be reformed, despite being required to do so by the Dodd-Frank law passed last summer.
Rep. Jeb Hensarling (R., Texas), who chairs the House Republican Conference, said in a statement that the White House’s failure to meet the deadline made it “crystal clear that the President is not serious about reforming Fannie Mae and Freddie Mac.”
Laws apply to Obama?
I bet he was surprised to learn that.
The US Census showed that 11% of all US homes are sitting vacant.
Why?
Maybe because:
In the fourth quarter of 2010, Americans bought 63 times more iPads than they did homes
Within the next year, 28 percent of all homes will be underwater.
There are 5 million delinquent loans not yet in foreclosure — which are projected to drive foreclosures 20% higher than they were in 2010
Homes still have a long way to fall to be on the 60-year trend line for prices. (We had a bubble)
100 million Americans think buying a home today is a bad investment
14 million more people are unemployed today than at the height of the housing boom (POTENTIAL HOMEBUYERS LOST)
The end of the first-time homebuyer tax credit resulted in a 30 percent decline in applications — despite record low mortgage rates
When we include the shadow inventory, it might take 44 months to get through the glut of homes on the market
Read more: http://www.businessinsider.com/depressing-facts-housing-slump-2011-1#
Meanwhile, Obama and his cohorts in corruption against American Business, Economy, Debt, People…
Passing all kinds of Business (Job/Economy ) killing rules and regulations, shoving Health Care down our throats, Spending Billions on phony ‘Shovel Ready” Jobs, Billions for Cash for Clunkers… and on and on
Yet, the hypocrisy and Arrogance is truly stunning. Obama’s administration didn’t even get a budget together.
We are on the same stupid path that was a huge part of where we are today.
Why, on the rare occasions when Obama’s actions benefit America, does his base get angry? And every time his actions are hurting this nation, his base is happy? Who exactly are these people?
@FAITH7: Well said, Faith. The answer to your question is quite short, really, they just HATE AMERICA and everything it represents. That is the only answer that makes sense .
@FAITH7:
“One” doesn’t need a budget when running a dictatorship.