FAIL on all counts. Gas is much higher, mortgages are harder to come by and we all know obamas record on jobs so far.
LMAO
I guess I was wrong. Obama is going to pay her mortgage.
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Obama Administration To Extend Mortgage-Free Living For America's Unemployed To One Year
zh ^ | 07/07/2011 | Tyler Durden Various big banks are dealing with the Option ARM cliff is by enforcing outright mortgage debt forgiveness, in some cases as large as 50% of the total principal. Which is why it should come as no surprise that the administration, in dealing with the lack of an unemployment cliff, has decided to extend foreclosure-free living for unemployed homeowners from a few months to a year...
The administration today will announce that two programs providing unemployed homeowners a few months' forbearance on their mortgages will be extended to 12 months, said three administration officials speaking anonymously because the program has not been announced. Thousands of homeowners could benefit from the additional time, although not all jobless homeowners will be eligible. The action is being taken as part of the administration's effort to help prevent foreclosures while unemployment remains above 9% and the economy struggles to rebound." What would be great if in addition to such openly socialist policies the administration would enforce the implementation of sinking funds for said unemployed workers, who instead of taking unemployment benefits from the government and converting it into less than edible iPads, would actually set aside money for that eventual mortgage payment.
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when the US consumer no longer has to spend any money on the biggest traditional use of capital, housing, the alternative is everything else.
in Obama-style economics zero sum is no longer relevant.
The revised programs are intended to be a win-win for borrowers and banks, which can avoid having more homes go into foreclosure by giving borrowers more time to pay.
(Excerpt) Read more at zerohedge.com ...
