Article Tools

President Barack Obama thinks it is a good idea to give $75 billion handout to homeowners, that is millions of Americans on the brink of foreclosure Wednesday. The problem with that is allot of people are outraged over that move, because they will not benefit because they did everything right or because they do not qualify although they pay higher taxes.

“All of us are paying a price for this home mortgage crisis, and all of us will pay an even steeper price if we allow this crisis to continue to deepen,” Obama said. Is our government promoting bad behavior? Some are suggesting that is exactly what is going on in America.

Some are angry, not just because of the $75 billion handout, but also for the reason that the President continues to talk down the economy. President Barack Obama basically said Wednesday, forget about buying a house as an investment anytime soon.

President Barack Obama mention the word crisis over twenty times Wednesday, that does not instill confidences in the economy.

The unemployment rate is creeping up and home prices keep falling: Is that not two great reasons why it might be best to let the banks foreclose on your home? On top of all of that, Obama continues to talk down the economy.

Read more in Opinions
« The Definition of a Hypocrite
Bristol Palin, Bill Bennett, and An Artificial Market Economy »

Keep in mind, your own job could be the next one on the chopping block. And would it not be better to wait until home prices have reached their bottom? Keep in mind also that there are some who are saying not to invest in the United States for it will be impossible for the United States to recover, because of all of the social programs that are being put in place which it cannot afford.

If those who are rich decide to leave this county before of high taxes, who will pay for all of those social programs? The Social Security Trust Fund is gone and needs to be funded but no ones is talking about that.

Some may just let their homes go if it continues to lose it’s value, and President Barack Obama seem to suggest that, that is exactly what is going to happen.

So before you decide to keep your house from being foreclosed on keep the following in mind:

(1) Prices are still dropping (2) This sale will be on for a while (3) You may not stay put (4) Your job could be the next to go (5) Your cash reserves (if you have any) will be eaten up  

Question: How many of those homes that are being foreclosed on right now, are homes that people do not want, because they know they are not worth it?