In Which Romney Shows Some Spine
Perhaps I'm just displaying the initial signs of Stockholm Syndrome, but, amidst all the petulance, Mitt Romney had at least one moment in last night's Las Vegas debate that brought some cheer to this perpetual detractor:
As to what to do for the housing industry, specifically, and are there things that you could do to encourage housing: One is, don't try and stop the foreclosure process. Let it run its course and hit the bottom. Allow investors to buy homes, put renters in them, fix the homes up. And let it turn around and come back up.
Of course, that "...and there are things that you could do to encourage housing" festers, but this is strong stuff. For a man who panders as a matter of Pavlovian conditioning to come out with the complex, but economically literate, answer -- that markets have to clear in order to recover -- instead of embracing the populist response (you know, the one that finds home ownership in the Bill of Rights) is somewhat encouraging. At the very least, it's an indicator that there's one area where Romney is John McCain's better.
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Oct '10
Re: In Which Romney Shows Some Spine
Romney-Cain 2012
Edited on Oct 19, 2011 at 10:26pmNov '10
Re: In Which Romney Shows Some Spine
I'm not a fan, but Romney got this one right.
One of the requirements of a true economic recovery is for the uncertainty in the housing market to shake out. We won't really start to recover until the housing market has reached its actual market value. Sorry, everyone here with an underwater mortgage, but it's really true.
Apr '11
Re: In Which Romney Shows Some Spine
Romney is Electable
As much as I would love a pure conservative, I am certain that it is impossible to get one elected President. Romney is a smart guy, with strong executive skills, is already vetted and is more Presidential in stature than the sitting President.
If Obama is reelected, let's face it this country is finished. However, if Romney is elected, and I will echo the recent comments of Bachman, "things would turnaround quickly" There is such a psychological fear on the part of many "makers" to avoid risk, because Obama and his "takers" have created so much uncertainty on taxes, HC, energy, debt etc. If you remove that, millions of individuals start thinking differently and begin to consider risk taking - literally that occurs on the Wednesday, following the Tuesday after the first Monday in November 2012.
So, when your reflex is to pan Romney because he is not the perfect candidate, remember, that he shares a great deal of our views on what we all know works. And beginning January 20, 2013, he has the smarts to choose the right policies that will sustain the bull rush that will likely already be underway.
Jun '10
Re: In Which Romney Shows Some Spine
How many foreclosures are rubber stamp and processed illegally? Banks are taking homes from folks having trouble making ends meet, forcing them to find some place to rent that usually costs more that the mortgage payment. Then the banks rent the places out, collecting money from both the government in the form of bail outs, from the outright theft of some homes, and the folks they rent them out to.
Wrong on all counts? Doesn't look like it to me. A team of lawyers explaining why this is all legal won't change my belief that people are getting shafted by both business and the government and that they are using my money to do it.
To be clear, I'm not talking about willful deadbeats. I'm talking normal people who've run into trouble and found business and government piling on. It's fear and perception that are going to color the voter's action and the candidates would do well to understand that.
Dec '10
Re: In Which Romney Shows Some Spine
This was a great moment to point out, Troy. What I'm still waiting for, from any of these candidates, is the confidence to talk optimistically about the light on the other side of the tunnel. Mitt answered this one correctly, but these he's are still shortchanging himself.
I'm already in agreement with the economic fundamentals that these guys are pushing, but I'm still waiting for someone to give me a convincing argument on it's behalf. These guys better start learning how bring an illustration of prosperity to the table or we're screwed.
Oct '10
Re: In Which Romney Shows Some Spine
Romney is correct, but you know Democrats are going to invoke Hoover's treasury secretary's famous "liquidate everything" remark.
Oct '10
Re: In Which Romney Shows Some Spine
The average time spent in foreclosure is close to two years, if I remember right. That's free rent for two years. It sounds like those people are taking advantage of the banks, to me.
And if the banks rent out the properties, why have rental prices been going up?
Re: In Which Romney Shows Some Spine
Starve the Beast: I'm not a fan, but Romney got this one right.
One of the requirements of a true economic recovery is for the uncertainty in the housing market to shake out. We won't really start to recover until the housing market has reached its actual market value. Sorry, everyone here with an underwater mortgage, but it's really true. · Oct 19 at 11:00pm
Amen.
Re: In Which Romney Shows Some Spine
Robert E. Lee: How many foreclosures are rubber stamp and processed illegally? Banks are taking homes from folks having trouble making ends meet, forcing them to find some place to rent that usually costs more that the mortgage payment. Then the banks rent the places out, collecting money from both the government in the form of bail outs, from the outright theft of some homes, and the folks they rent them out to.
Wrong on all counts? Doesn't look like it to me. A team of lawyers explaining why this is all legal won't change my belief that people are getting shafted by both business and the government and that they are using my money to do it.
To be clear, I'm not talking about willful deadbeats. I'm talking normal people who've run into trouble and found business and government piling on. It's fear and perception that are going to color the voter's action and the candidates would do well to understand that. · Oct 20 at 12:17am
You mean "normal people who bought houses they could not afford." No one shafted anyone. They gambled and lost, and you want us to pay.
Oct '11
Re: In Which Romney Shows Some Spine
Romney is right, but I don't think the American people are ready to swallow their bitter medicine. Though it pains to say, the Republican candidate may have to play more the sophist than the economic prophet in the coming election.
Jun '10
Re: In Which Romney Shows Some Spine
Joseph Eagar
The average time spent in foreclosure is close to two years, if I remember right. That's free rent for two years. It sounds like those people are taking advantage of the banks, to me.
And if the banks rent out the properties, why have rental prices been going up? · Oct 20 at 1:44am
Like I said, I'm not talking about the dead beats, I'm talking about those who keep paying right up to the end.
I don't know why the rent goes up. My three bed-room costs $657, the identical one next door (which we were trying to rent for my sister once upon a time) ran $790 plus utilities.
Jun '10
Re: In Which Romney Shows Some Spine
Paul A. Rahe
You mean "normal people who bought houses they could not afford." No one shafted anyone. They gambled and lost, and you want us to pay. · Oct 20 at 4:27am
In a word, "NO".
I didn't know anything about housing when I retired from the Air Force (just before I retired, actually) but my wife and I tried to anticipate our needs and income. We had to argue with the Realtor to buy this place because she insisted we could get a much bigger house. My wife and I set our maximum based on half of my retired pay, in case something happened and we both were out of work, we wouldn't lose our house. A 30-fixed at $550.
That "fixed" is now $657 because taxes and fees went up even if the basic mortgage didn't. And everything else went up, like medicine, food, gas and so on. Meanwhile I'm totally disabled and my wife's job went away.
I'm not talking about wannabe royalty living in McMansions, I'm talking about people who made an earnest effort to live within their means and couldn't keep up with the economy.
Jun '10
Re: In Which Romney Shows Some Spine
Paul A. Rahe
You mean "normal people who bought houses they could not afford." No one shafted anyone. They gambled and lost, and you want us to pay. · Oct 20 at 4:27am
Those thousands of people who's homes were foreclosed by illegal robostamping? They got shafted by anyone's definition. And that "...you want us to pay?" I'm part of that "us". I pay for government waste and bank bailouts too.
Aug '10
Re: In Which Romney Shows Some Spine
John Marzan: Romney-Cain 2012 · Oct 19 at 10:25pm
Edited on Oct 19 at 10:26 pm
I hadn't thought of this match-up, but it's perfect. Cain would help in the South, with the Tea Party, and with the black vote. Romney would keep the moderates from running away. Their combined experience in business and government would make the current occupant of the White House look like a poser. It's a bleemin' dream team.
And could you imagine a Cain-Biden debate? Now that would be entertaining.
Nov '10
Re: In Which Romney Shows Some Spine
He could recite the opening lines of Capitalism and Freedom for all I care. He's a fake.
May '10
Re: In Which Romney Shows Some Spine
There is so much defaulted housing stock out there right now that banks don't hurry at all to finish the process, unless the property is being defaced and degraded. My next-door neighbors of 24 years (we built our houses at the same time) moved out, no hints or advance notice, on a Saturday morning a month ago, so I looked up their address, and found that the place had changed hands via repossession in early March. That was a shock, given that he is an IT guy who makes around $100K working for a huge company, and they drove away in their Caddy and new Nissan.
I have very serious doubts that any solid, well-meaning citizens who made any kind of effort to pay on their debts would be tossed out fast. And the "robostamp" issue is a sloppy accounting/management issue, not fraud. In many cases, the biggest problem is the backlog of title recording during the height of the rapid turnover period.
May '10
Re: In Which Romney Shows Some Spine
I am left to conclude that many, if not most peolple dislike Romney because he's not exciting and/or unlike most politicians, he's actually smarter than you, and you find that threatening.
Whatever, I'm tired of your need for conservative political porn; a father figure; a cowboy figure. Onward to the nomination!
Romney/DeMint 2012!
Edited on Oct 20, 2011 at 1:58pmMar '11
Re: In Which Romney Shows Some Spine
Sometimes I feel better about Romeny when I remember the context I found him in 3 yrs ago. Versus this year's crop he's a Rockefeller. But he was probably outmaneuvered on his left side in 2008 by both Giuliani and McCain.
Oct '10
Re: In Which Romney Shows Some Spine
Robert E. Lee
Paul A. Rahe
You mean "normal people who bought houses they could not afford." No one shafted anyone. They gambled and lost, and you want us to pay. · Oct 20 at 4:27am
Those thousands of people who's homes were foreclosed by illegal robostamping? They got shafted by anyone's definition. And that "...you want us to pay?" I'm part of that "us". I pay for government waste and bank bailouts too. · Oct 20 at 6:22am
Those people are in the minority, though. People genuinely screwed by the foreclosure process do exist, but they aren't the majority. That's why it's not a good idea to bring up foreclosures; much better to go with a "we had to pay for banks/AIG bailout while unable to pay our mortgages" tack.
Jul '10
Re: In Which Romney Shows Some Spine
Robert E. Lee
Paul A. Rahe
You mean "normal people who bought houses they could not afford." No one shafted anyone. They gambled and lost, and you want us to pay. · Oct 20 at 4:27am
Those thousands of people who's homes were foreclosed by illegal robostamping? They got shafted by anyone's definition. And that "...you want us to pay?" I'm part of that "us". I pay for government waste and bank bailouts too. · Oct 20 at 6:22am
Here's my favorite story about banks, robo-stamping, and foreclosures.
Big institutions, governmental and corporate, are often clumsy, lazy, and unresponsive.