Obama’s plan sounds good, but think it through and look at the BIG picture… Raising taxes on anyone right now is NO GOOD… even big corporations have budgets to meet and they will cut jobs and spending to meet them, just as JOE the Plumber would have to do. McCain’s housing plans to buy bad mortgages makes perfect sense, renegotiate the balance w/banks (short sale) which is what’s largely going on right now in the industry and give them mtg terms they can handle. Without this help, the real estate mkt will remain stagnant. Putting money in the banking system is needed as well, but it’s not a long term fix, only temporary. McCain is getting to the root, not puting a band aid on the problem. Obama wants to give 95% of Americans a $1000 check, even if they don’t pay taxes. This was proven in the beginning of the year w/the rebates we received, IT”S NOT THE ANSWER for the root of the problem. Obama also proposes a 3 month moritorium on foreclosures. Can you say idiot… OK, lets clog up the system even longer. What is that going to solve? Nothing… what are the chances of anyone’s financial circumstances changing in 3 months to where miraculously they can now pay their mortgage? It will simply clog the banking system more, the bank needs to get these houses off their back and provide liquidity to our market. Not hold dead assets for 3 more months hoping homeowners can pay then. Everything in the economy revolves around supply and demand. With a housing inventory of 18mos. we’re going nowhere, but if McCain can put this thing in place, it takes inventory off the market. That’s what we need, until that happens your house and everyone elses is competing with foreclosures and values are tanking… Banks are having fire sales to rid themselves of these dead assets, that’s how imperative it is to them to have liquidity. Nothing Obama has presented makes sense to me. NOTHING… But I must say, he is a great speaker… If all you want is words, then Obama’s the man!! My mom always told me “All that glitters is not Gold…”
