Angry Renter isn't sponsored by any independent bloggers, but by FreedomWorks, a "grassroots advocacy organization" headed up by former U.S. House Majority Leader Dick Armey.
Thursday, May 1, 2008
Angry Renters Take Action
Posted by Harriet at 3:33 PM
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16 comments:
TRUE THAT!
I'm a Sally. SCREW BOBs
Yes, life is always 'fair'.
Sally really should have known better ... For how many decades now has the government favored and protected homeowners? Really, Sally has no one to blame but herself for not thinking ahead.
Maybe the bailout won't help Bob, he loses his home, the bank loses a ton of money, and Sally can buy the home for a song? :)
Sally gets one vote. Bob cannot afford to take time off to vote, or afford the gas to get there. Sally gets heard.
JOhn said...
"Sally gets one vote. Bob cannot afford to take time off to vote, or afford the gas to get there. Sally gets heard."
Actually, that's probably a big part of what's happening. Sally is afraid to commit to a particular house/neighborhood/city and never ends up voting. Bob, the homeowner, goes to neighborhood/city meeting and HE votes ... and the politicians know that.
So maybe we can't blame the politicians ... Just Sally for being so non-commital. What goes around comes around.
I rent and I vote. Throws that theory out.
"I rent and I vote. Throws that theory out."
You assume facts have something to do with Lance's theories... big mistake.
""When (elected officials) study voter rolls, they conclude that renters don't vote much," Szymanski said. "And then they make their policy decisions and cast their votes based on that."
http://tinyurl.com/46qvuf
Lance said...
“Sally really should have known better ... For how many decades now has the government favored and protected homeowners? Really, Sally has no one to blame but herself for not thinking ahead.”
Well looky there. Lance hit the nail on the head. It’s called Moral Hazard. The next time, Sally will probably look ahead and think “Humm, questionable investment? No worries, bet it all and the government will bail me out”. Case in point, why would anyone continue to pay a mortgage, especially when your neighbor is getting bailed out? Financially, it makes more sense to stop making payments, pocket the monies, and cry to the government/bank for a handout.
"Sally really should have known better ... For how many decades now has the government favored and protected homeowners? Really, Sally has no one to blame but herself for not thinking ahead."
Come on, Lance, I'm sure this comes as a great comfort to everyone getting their heads handed to them in CA, NV and FL (along with a bunch of other areas).
Many of them are *wishing* they had been Sally. Too late for them now.
As for voting, yeah ownership may make a difference for regional voting, but I really doubt it matters for national votes -- which is what this would be. Also, since it would *directly* impact people's wallets, I think any such attempt would bring renters out of the woodwork (as it seems to be doing).
Politics is local.
I have to agree with Lance here and say that I totally agree that as a rule renters do not participate in their community decisions as much as homeowners. I don't think that' a reason to buy overinflated houses. Renters in the back of their minds realize they can move out of bad neighborhoods or other problems. Homeoweners are inveted in their neighborhoods and their property values. I hear it everyday at my job. So do the politicians.
Look, I agree with the (basic) politics is local claim. But to rework mortgages, etc would I'd think have to be made at a congressional (national) level.
Do you really think Wachovia, Wells Fargo, et al really give a da*n about what any local jurisdiction thinks?
And let's not even get into on how an overseas holder would view things.
I'm a home owner. No bailouts!!!!
It will just take longer for the market to correct.
Brilliant video. Thanks, Harriet.
Lance, I really hesitate to engage you, but I had to take personal offense at your characterization of renters as being temperamentally "non-committal" and uninvolved politically.
Since you apparently live in D.C., you should know about a very large population of MILITARY who live and work here. Because military obligations require frequent moves, buying is rarely, if ever, a good financial option. Further, military housing allowances are created around RENTAL costs, not buying costs.
One of the greatest sacrifices the all-volunteer force makes is the inability to settle down anywhere, to have any control over where you live or in what you live. Your self-serving characterization of the renting population is quite callous towards that fact. And if you are making out very well from your recent home purchase, it is because hundreds of thousands of Americans are sacrificing their ability to live the dream of homeownership to keep you safe so you can.
So please show a little sensitivity and gratitude.
Tabitha,
I'm not charcterizing anyone. I'm simply stating why politicians will bend over backwards for homeowners and not for renters ... unless of course you are in the District where a good proportion of the population are renters and the reverse tends to occur. On the national level though, it's clear that homeowners are favored as evidenced through federal tax rules etc.
Your personal attack on me is misplaced. You're misinterpreting my good advice that people should look out for themselves and not expect for life to be 'fair'. It isn't.
Bottom line in regards to the "Bubble" is that a crash in values can only happen if the environment surrounding home purchases changes drastically (i.e., the feds, the banks, etc. stop protecting homeowners.) I don't believe that will happen.
P.S. I've said over and over that there are many good reasons for people not being in a position to buy including not planning to stay in an area at least 5 years. That reason would certainly apply to many of our servicemembers and their families.
The "non-committal" comment is certainly not aimed at those very people who I said shouldn't be considering buying in the first place.
""When (elected officials) study voter rolls, they conclude that renters don't vote much," Szymanski said. "And then they make their policy decisions and cast their votes based on that."
LOL - Leroy owned by the facts! Again!
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