Bush LIE of the day... Home Ownership

[Enrico]

"Home ownership is at an all time high"

The fact is... ever since the U.S. has been recording home ownership in 1965, home ownership climbs. So, every year home ownership is at an all time high.

(From Al Franken today)

[serryjw]

1. Ohhhhhhh Goody.....So are foreclosure rates at a ALL TIME HIGH!

[MidwestTransplant]

2. I guess he's saying, "elect me because I didn't fuck that up too."

[Vickers]

6. lol!

:toast:

[ibegurpard]

3. Yeah

And how many of those home owners have two people working 40+ hours per week and commuting two hours one way in order to spend half their income on an overpriced cracker box they got into because they were afraid housing prices would keep skyrocketing. The picture is MUCH more complex than that.

[elehhhhna]

4. Bankruptcy also at an all time high.

[MountainLaurel]

7. Thank you for that!

There's another thread on DU about programs designed to help teachers, firefighters, and other public servants afford to buy homes in the districts in which they work. Here in the DC area, there are jurisdictions where less than 25 percent of government employees can afford to live where they work. It's a huge problem: How do you recruit teachers if they can't afford to live within 20 miles of the school and aren't willing to leave for work at 5 am?

And then there's the whole issue of people spending half of their monthly take-home pay on housing. . .

[tech3149]

5. The devil is in the details

according to the census bureau home ownership is up little more that 1%
http://www.census.gov/hhes/www/housing/hvs/historic/histt14.html
and by this article forclosures are up 25% since 2000.
http://www.wsws.org/articles/2002/dec2002/fore-d07.shtml
So that means a few more poeple are buying homes, but alot more are losing them. WTG shrub!

[tanyev]

8. Just read an interesting book

The Two-Income Trap by Elizabeth Warren.

http://www.amazon.com/exec/obidos/ASIN/0465090826/qid=1094675450/sr=ka-1/ref=pd_ka_1/103-5026022-8929450

I thought it was going to be about how middle class families need to pinch pennies, save money, get IRAs, etc, etc, but I was pleasantly surprised that she went into great detail about how the deregulation of credit and lending is the main cause of the huge increase in bankruptcy and foreclosures. It was very informative.