Fifty Years Of Government Intervention Fails To Boost Home Ownership

[Revmitchell]

Despite decades of federal intervention in the housing market, home ownership rates are virtually the same today as they were in 1968, according to an brief released by the Heritage Foundation on Monday.

According to the report, “the rate of U.S. homeownership has remained nearly constant over the past 50 years as government intervention has steadily increased, but the level of residential mortgage debt has increased nearly six fold.” Such policies created market distortions, “leading to artificially higher home prices and lower interest rates.”

The pace of government intervention was especially frenetic in the 1990s, the report says, such that, “from 1990 to 2003, Fannie [Mae] and Freddie [Mac] went from holding 5 percent of the nation’s mortgages ($136 billion) to more than 20 percent ($1.6 trillion),” all with implicit government backing



Read more: http://dailycaller.com/2014/08/11/f...-fails-to-boost-home-ownership/#ixzz3A8sZQmoj

 

[Magnetic Poles]

The real issue is that Republicans in Congress helping the ultrawealthy redistribute wealth to the top and shrinking the middle class, makes it increasingly more difficult for the average American to afford a home.

 

[Revmitchell]

I see someone has been smoking that funny weed up there in CO.

 

[Crabtownboy]

The real issue is that Republicans in Congress helping the ultrawealthy redistribute wealth to the top and shrinking the middle class, makes it increasingly more difficult for the average American to afford a home.

With the policies of the GOP the middle class is shrinking and thus fewer Americans can afford to purchase a home. What is hard to understand is why so many who are being hurt by GOP policies continue to support them. Kind of like, "It hurts so good, hit me again".

 

[Magnetic Poles]

I see someone has been smoking that funny weed up there in CO.

Lacking a logical argument since your beliefs are contrary to the facts? The best you can do is falsely accuse me of being a drug user. Shame on you. Very pathetic for a so-called "Reverend".

 

[InTheLight]

The real issue is that Republicans in Congress helping the ultrawealthy redistribute wealth to the top and shrinking the middle class, makes it increasingly more difficult for the average American to afford a home.

Name something the Republicans have gotten through the House and Senate in the past 7 years that the President has signed that has shifted money away from the middle class and into the wealthy.

C'mon....

 

[Use of Time]

Name something the Republicans have gotten through the House and Senate in the past 7 years that the President has signed that has shifted money away from the middle class and into the wealthy.

C'mon....

They haven't had to. It has pretty much been the status quo has it not?

 

[InTheLight]

They haven't had to. It has pretty much been the status quo has it not?

You'll have to elaborate.

The statement was made that the problem is "Republicans in Congress helping the ultrawealthy redistribute wealth to the top and shrinking the middle class". So I want to know what the Republicans are doing to accomplish this.

 

[Revmitchell]

Lacking a logical argument since your beliefs are contrary to the facts? The best you can do is falsely accuse me of being a drug user. Shame on you. Very pathetic for a so-called "Reverend".

Facts? Show me the so called facts you presented? You made an unfounded claim to be sure but no facts.

Taking a toungue and cheek statement and knowingly trying to capitalize on it is just sad.

 

[InTheLight]

I guess I'd like to know why the government feels a need to provide incentives (government subsidized mortgage programs, mortgage interest expense deduction, etc.) so people can buy houses? Why does the government care if their citizens buy or rent housing?

 

[Magnetic Poles]

Name something the Republicans have gotten through the House and Senate in the past 7 years that the President has signed that has shifted money away from the middle class and into the wealthy.

C'mon....

Your falsely time bounding the problem. It began with Reagan's Voo Doo Economics. Cut taxes on the wealthy, yet nothing trickles down. Enact tax codes that reward the wealthy, allow them to relocate headquarters to a mail drop in the Cayman Islands to avoid paying their fair share of taxes, while adding that burden to the middle class. The last 7 years, we have had a president who has held a barrier against more of this, yet the GOP still fights any effort to fix the problem.

 

[Revmitchell]

Name something the Republicans have gotten through the House and Senate in the past 7 years that the President has signed that has shifted money away from the middle class and into the wealthy.

C'mon....

Will never happen. He can't do it. Nor does he want to try. Like Obama he just wants to make unfounded claims and rest on that.

 

[Magnetic Poles]

Facts? Show me the so called facts you presented? You made an unfounded claim to be sure but no facts.

Taking a toungue and cheek statement and knowingly trying to capitalize on it is just sad.

Not capitalizing on anything. You made a personal attack, as is typical of your M.O.

I won't do your research for you. The facts are that the middle class is shrinking, and it's the GOP's pro wealthy / anti-worker stance is largely to blame. Can you or I afford to put unlimited resources into buying elections? Citizens United made that a reality for the super rich.

Just use Google and you'll find plenty of statistics showing the redistribution of wealth from an ever shrinking middle class to the top 1% of the nation's population.

 

[Crabtownboy]

Name something the Republicans have gotten through the House and Senate in the past 7 years that the President has signed that has shifted money away from the middle class and into the wealthy.

C'mon....

Note the OP says 50 years. Seven years does not count in this sense of history. Beginning with Regan's "Trickle-Down" to this day the GOP has pushed policies that have aided the super-rich and hurt the middle class.

[QUOTE]While the wealthiest Americans are outpacing many of their global peers, a New York Times analysis shows that across the lower- and middle-income tiers, citizens of other advanced countries have received considerably larger raises over the last three decades.

http://www.nytimes.com/2014/04/23/u...ass-is-no-longer-the-worlds-richest.html?_r=0[/QUOTE]

The Bush years really hurt:

 

[Use of Time]

Note the OP says 50 years. Seven years does not count in this sense of history. Beginning with Regan's "Trickle-Down" to this day the GOP has pushed policies that have aided the super-rich and hurt the middle class.

[QUOTE]While the wealthiest Americans are outpacing many of their global peers, a New York Times analysis shows that across the lower- and middle-income tiers, citizens of other advanced countries have received considerably larger raises over the last three decades.

http://www.nytimes.com/2014/04/23/u...ass-is-no-longer-the-worlds-richest.html?_r=0

The Bush years really hurt:

[/QUOTE]

Yep and it isn't that the Republicans have pushed policy the last seven years, it is that they have stonewalled any attempt to correct this.

 

[Salty]

Your falsely time bounding the problem. It began with Reagan's Voo Doo Economics. Cut taxes on the wealthy, yet nothing trickles down. Enact tax codes that reward the wealthy, allow them to relocate headquarters to a mail drop in the Cayman Islands to avoid paying their fair share of taxes, while adding that burden to the middle class. The last 7 years, we have had a president who has held a barrier against more of this, yet the GOP still fights any effort to fix the problem.

Question # 1 - what is % of Federal Income Tax that is FAIR for a business to pay

Question # 2 what is the % of ALL taxes that is FAIR for a business to pay.

Question # 3 - is it FAIR that 40-50% of all working Americans NOT to pay ANY federal tax at all?

 

[Revmitchell]

Not capitalizing on anything. You made a personal attack, as is typical of your M.O.

Uh yea you did.

I won't do your research for you.

Translation: I have none so I will obsfucate. You made the claim the onus of research is on you to support your claim.

The facts are that the middle class is shrinking, and it's the GOP's pro wealthy / anti-worker stance is largely to blame. Can you or I afford to put unlimited resources into buying elections? Citizens United made that a reality for the super rich.



Just use Google and you'll find plenty of statistics showing the redistribution of wealth from an ever shrinking middle class to the top 1% of the nation's population.

And still nothing.

 

[Bro. Curtis]

The real issue is that Republicans in Congress helping the ultrawealthy redistribute wealth to the top and shrinking the middle class, makes it increasingly more difficult for the average American to afford a home.

Please. Republicans been blocking home ownership for fifty years ?

 

[Bro. Curtis]

Name something the Republicans have gotten through the House and Senate in the past 7 years that the President has signed that has shifted money away from the middle class and into the wealthy.

C'mon....

I'd like to see this, as well.

 

[InTheLight]

OK, look at those charts.

Middle Tier Median Income
Shows slight decline in early George W. years then peaks at highest level ever in 2007 before Great Recession drags it down.

Median Net Worth Plummets
Rises 18% during George W. years then sharply declines during Great Recession as housing prices--the largest component of middle class net worth--plummet.

Middle Class Lifestyle Harder to Maintain now than 10 years ago.
Hmmm...so after 7 years of Democratic rule it's harder for the middle class to maintain their lifestyle with Obama than it was with Bush.