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What does NAR think of the Housing Stabilization bill?

I just received a link on a message from NAR of their evaluation

of the Housing Stabilzation bill. While I am in support of the

concept of rescuing the economy, I have concerns. I have heard

rumors of add-on Legislation, lots of it. The bill that was defeated

yesterday started out at 3 pages and went to vote with 110 pages

(of porky stuff attached?).

pigging out

After a 'Rescue Bill' is passed, and it appears this is the direction our

esteemed gentlemen in Congress will eventually go, I would like

to hear the rationalization of the representatives that tagged

additional bills on the back end of this bill.

Here is the link to the NAR evaluation.

Seems to me, a national election is coming up that will let us tell these

servants of the people whether we think they are doing a good job or not?

What say you?

piggy photo from Flickr Creative Commons

http://www.flickr.com/photos/rikkis_refuge/470509582/

_____________________________________________________________________________________________________

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Posted by Terry Bonnie Westbrook Westbrook Realty Grand Rapids Forest Hills MI Real Estate on 09/30/2008 12:04 PM

Comments (14)

Rescue Bill in the ActiveRain Channel

congress acting like normal, congress leads us to a standstill, where are the leaders

Originally posted at: Grand Rapids Michigan Real Estate Blog: What does NAR think of the Housing Stabilization bill?

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14 Comments on What does NAR think of the Housing Stabilization bill?

SEP

2008

This is the part I find funny, but not amusing...

"If, after five years from the date of enactment (the date the President Recoup What's Still Owed: signs a bill), the program has lost money, the sitting President will be required to present a plan to Congress for ways to recover the funds from the financial institutions that benefited from the TARP relief."

Those institutions will have long since failed and there will be no line of recourse.

It would appear these placatory words are placed in the bill to appease the optimitic few.

As much as I hate to rescue so called Wall Street, I believe we have to have the long view and bite the bullet. As far as Congress is concerned, of course they will add pork barrell projects. I read that ear-marks equal less that 1/2 % of 1 %. Isn't that why we elect our officials...to look out for our local interest.

Please remember me if you learn of anyone moving to "The OC."

Best Regards

Michael Caruso

Haven't you wondered what you get for $700B? I've been wondering that myself and trying to figure out how they arrived at that particular figure.

According to Simon Conway (active rain blogger), it was an arbitrary LARGE number. No other reason.

NOW THAT is scary!

Vickie: Thanks for the comments. I agree everyone is so involved in re election they only have that in mind and oh by the way we need to do something about the financial mess we caused or we might not get back in.

Michael: I guess if it is a worth while project they could get it passed on it's own merit. I know that how they get things done but I don't agree with it.

Ron: Notice how it is never written out $700,000,000,000.00 it might look like a lot of money not just a number then.

Government continues to expand and take our money to fulfill their pet projects. It might be time to remember how the forefathers dealt with these kinds of people in office--vote them out!! Get those who believe in us as being the solution and not the government. Sadly one presidential contender is strongly socialistic in every priniple he stands for and I hope we don't vote him-especially when he is indoctrinating kids!!

Dave: I think we will have quite a voter turnout this November if they did not get the message last time I am guessing the incumbent party will have another chance to listen to the public.

Thank you for the link. It was very interesting. I would like to see legislation enacted to benefit current homeowners who are having trouble right now with their mortgages. Also, how about a plan for buyers, especially the service men who will be returning from Iraq, making affordable loans possible soon.

Judy Factor, Coldwell Banker Distinctive Properties, Simi Valley, California

I keep thinking that this is like the Fox Watching the Hen House and more large government.

Judy: Great idea how ever if it's not their idea it won't fly. I do like the benefit the current loans that the owners are having trouble but I think that might be a big can of worms on who qualifies.

Don:We paid for the fox we paid for the hen house now we need to pay to watch over the fox and help the hens out. Will it never end?

I agree with NAR that we need to pass some kind of bill to relieve the credit crunch on the money markets. This is a world wide credit situation, so the pressure to rescue will be intense.

It is just disheartening to see the political games afoot. In times like these, leaders with vision and

commitment are needed. Sadly, I don't see many leaders rising to the forefront in our Congress.

Bon: I listened to our Representative last night and they both said it has to pass. One was ready to pass anything( he is a lock for reelection) and the other voted against he is in a battle for his election. Funny how that worked out in an election year.

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