In response to:

Housing Recovery, Real or Fake?

Joe 145 Wrote: Feb 09, 2013 8:12 AM
The Fed CANNOT raise rates today. If they did, the interest on our debt will balloon. And they know it. The housing bubble that you describe can easily spread to the entire economy and it has. All we need is a shock to the system. It may still be some time off, but it cannot go on forever like this. Sooner or later we will see a 'correction'.

 

Let’s be clear: The housing industry is one of the most regulated and manipulated sectors of the economy. The seeds of the financial meltdown were planted by social engineering by liberals in the Clinton administration, mandating loans by quota based upon income instead of prudent lending standards.

It became so bad that when the current anti-gun zealot Governor Cuomo of New York as head of HUD under Clinton ordered welfare and unemployment be counted as ‘income’ to qualify for a mortgage. The goal of home ownership by all Americans meant radical changes to prudent lending practices had...