Posted on 02/21/2009 4:53:06 PM PST by The Big Feed
A new report has surfaced that links the financial crisis to five particular states. The report indicates that mortgage woes are not necessarily a "national problem" as Obama states, but rather, a phenomenon peculiar to these specific states.
What this shows is that the rest of the country is paying for the irresponsibility of a small number of people in very select areas. I'm not condemning the responsible folks of the "foreclosure five", but clearly, there's something in the water of these places.
Here's a foreclosure heat map that details the location of the disproportionate number of foreclosures for all of America.
Note how closely the foreclosure heat map follows the presidential election map. Red being Mccain, blue being Obama.
(Excerpt) Read more at thebigfeedblog.com ...
Before anybody confuses the issue, these five states were known for a while to be the worst for the housing bubble. Do not make the mistake of thinking that Obama’s mortgage plan is to secretly reward those who voted for him, this is just a coincidence, IMO. And that will remain my opinion until any new evidence comes to light.
Who you kidding? The Generational Theft Act is NOTHING BUT a reward for his supporters. And all that mortgage jazz is part of it.
The states are not listed in the excerpt, so let me guess: Florida, Arizona, California, Nevada, and.....
Maybe Colorado?
No one here is confused that the states run by Democrats have the worst housing bubble. Democrat government and 'feel good' nonsense does that.
Do not make the mistake of thinking that Obama’s mortgage plan is to secretly reward those who voted for him.
There is no secret about it!
Michigan, the one state that said “Yes we can’t!” when the question was “Would you like to be part of the economic expansion?”
Michigan, the state that has been in its own perma-recession since the late 90’s.
Pretty darn close.
Thanks to the UAW!
Seriously. You guys leave the house from time to time. Is there anyone here who didn’t see this credit crisis coming?
Good thing you signed up for Free Republic just after The Messiah was elected to stamp out little brushfires like these...
So because I don’t buy a particular conspiracy theory about Obama I’m a troll?
Every time I disagree with the OP on a thread, somebody insinuates I’m a troll and brings up the date I signed up for this account. FYI, I’ve been coming to FR for years, it sustained me through the ‘04 election process. I only felt the need to post recently.
This is about the “mortgage relief” thing, not the “stimulus” bill. Given that those five states were the worst hit, any kind of government handout program for bad mortgages was going to end up concentrating on those areas. Look, the left bought into any, and I mean ANY, anti-Bush conspiracy theory they could and they looked like idiots because of it. Let’s be more skeptical than they are and accept that some things happened for reasons *other* than a conspiracy.
Who’s advancing conspiracy theories? I simply pointed out the similarities. But if you think Obama’s land grab isn’t geared directly towards his supporters and those who the thinks he supports you’re foolish. You seriously think he’s acting for the greater good of most Americans? The next thing you’ll say is he doesn’t play the class-warfare card.
My point was...and only was...that the same deadbeats that aren’t paying their bills are the same people who voted for Obama.
I’m not arguing with you on the stimulus, but your comment about payoffs didn’t apply to the “mortgage relief” plan, that’s what my point was.
Well, the issue not many people are discussing is just how many of these bad mortgages are from non-owner-occupied homes. People wanting to “flip” a house and make a ton of cash, that type of thing. I don’t know what percentage of defaults are “dead beats” simply refusing to pay their bills, I think a larger percentage is people who got adjustable rate mortgages whose rates have sky-rocketed and thus they simply cannot afford to pay their bills. Or they are unemployed.
Without hard data I wouldn’t make assumptions. Neither should you or anybody else.
If I thought you were a troll, I would have posted that you're a troll. Did I say "troll" anywhere in my post?
Do not make the mistake of thinking that Obama’s mortgage plan is to secretly reward those who voted for him, this is just a coincidence, IMO.
He isn't "secretly" rewarding anybody - he's doing it in front of God and everybody.
It's one of our jobs on Free Republic to pull the same cr8p on the National Socialists that they pulled on the country for the last 8 years.
Anything that can stick to the wall, gets thrown at the wall.
At least this accusation doesn't get any of our troops killed...
Yeah, that really worked out for us conservatives, didn't it?
Now, Sarah Palin is running the country, and we own all the national media outlets, and use them to laugh at and make fun of the gibbering Lefty loons and idiots.
Oh, wait...
I don’t know about the four other states, but I can tell you unemployment/job losses are the problem in Michigan. If unemployment continues to rise in other states, we are screwed in terms of foreclosures.
“I think a larger percentage is people who got adjustable rate mortgages whose rates have sky-rocketed and thus they simply cannot afford to pay their bills. Or they are unemployed.”
I have no empathy for anyone who signed an adjustable rate mortgage and can now not pay their mortgage. Why should I? Those people signed those contracts out of pure greed. The same as the lenders who signed them up. I will guess the number of people who can’t pay because they lost their job is the lesser of all the numbers and while I feel sorry for those people, is this the route we wanna go? No. We can’t afford to bail these people out regardless of the circumstances and anyone arguing for such bailouts is just being greedy as they are doing nothing but saddling future generations for our mistakes. Maybe you feel like you can define that as something other than greed, but you’d be wrong if you do.
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