Posted by
A.C. Swiger on Thursday, October 09, 2008 5:00:00 PM
OK...so there's always been this theory that there are many
different planes of existence along the space time continuum. I now
know this to be a fact!
What's that? How do I know? Well...I've lived all my life in a
world where the Democrat Party was the party of government
expansion and socialist engineering of everything from our social
lives to the economy. In that other plane of existence it was the
Republican Party that is the party of limited government. It's the
Republican Party that opposes big government solutions for every
social and economic ill.
Well, now I'm on a totally different plane. In the debates the
other night, John Sydney McCain came out in favor of the Federal
Government coming in and buying up homeowner mortgages,
renegotiating the terms of the mortgage and selling the homes back
to the mortgage holder at the lower property value that exists in
that Market. As a commercial Real Estate agent...I can tell you
what a nut brained idea that really is. Let's say the property
values in a certain price range have fallen say 5% in
value...You're a homeowner who has done every thing right...you've
paid your bills you didn't over extend on your mortgage...you've
been investing in your home and you've built up equity in this
home. As things are...if nothing is done...in the short term, you
will lose 5% of your equity and all will be well in a few short
years after the market's have sorted themselves out. Then let's
suppose the neighbors on either side of you are in danger of being
foreclosed...so after the "Republican" candidate passes this
idiocy, these neighbors go to the government and ask this new
agency to bail them out and renegotiate their mortgage. So...along
comes Billy Bureaucrat riding in on his white horse to save the
day. Billy Bureaucrat does a study on the neighborhood and decides
the market in your neighborhood hasn't fallen 5%...but has actually
fallen 20%...Now...as I understand this...Billy Bureaucrat turns in
a report and the government buys up the mortgages of your
irresponsible neighbors. Then these homes are sold back to your
neighbors at the new value...of course these mortgages are closed
as any other sale is closed and the new bank liens are recorded
with the appraisals and mortgage liens included. Guess what that
does for the comparable sales of the homes in that neighborhood?
Guess what just happened to the equity in your home...instead of
the market sorting this out...and you losing 5% of the equity in
your home...now you lose an additional 15% equity!
In this new plane of existence, it is Barack Obama, the Democrat
candidate that opposes this socialist scheme! It is the Democrat
that is taking the conservative position in this foolishness. In
the old plane of existence, Obama is known as the most liberal
Senator in the United States Senate. He is the Golden Child, The
One, The Messiah to all those Socailist/Communist left wing
fanatics who live to increase government intervention in our
markets. In the other plane of existence, Barry, (as he's
derisively called by the Republican Party) is the candidate of the
left.
Well...here I am...in the new plane...McCain is for this crazy
scheme, and Barry is against it. In this plane, the Democrat
politician is taking the most popular, (conservative) position in
the polls against this scheme...and it is the Republican candidate
that is pushing for a socialist takeover of the mortgage market
against the will of the American electorate according to all the
polls on this subject. It is John Sydney McCain who want's to put
the Washington Bureaucracy in charge of choosing winners and losers
in the real estate market!
You know what...maybe in this plane of existence, Congressman
James Trafficant is still in the Congress in stead of cooling his
heels in the federal pen...In that case..."BEAM ME UP SCOTTY!".