As we are watching the rhetoric of the Debates and the campaigning to be the next President of the United States.
One of the key issues and question on many people's mind is what will either candidate do, if elected, to stimulate an ailing real estate market, especially here in Arizona.
Each candidate has expressed strong views on the housing market, sub-prime debacle, and the economy overall as high energy and food prices are cutting into many peoples ability to pay their mortgage.
Senator McCain was originally against strong Federal legislation in a sense bailing out home owners, 
investors and even banks who lent risky loans.
However, he has "joined Senator Obama in supporting the idea of the $700 Biillion Federal Bailout or "Rescue Plan" for the banks to create liquidity in the banking system
Sen. Obama has suggested $10billion in direct government funding to help homeowners sell their homes of modify their loans to avoid bankruptcy or Foreclosure.
Sen. McCain feels struggling homeowner and borrowers should share the responsibility and if helped should share equity (if there is a gain) with the lender and Federal Government.
Obama wants the government to lend money to struggling home owners. Money which usually comes in the form of higher taxes
McCain has pledged to eliminate (AMT ) taxes. A break that many Americans want (and need). However AMT tax cut with other extended tax cuts leaves less money help to home owners. Unless, of course, other government programs are sacrificed. A move, most do not want.
The November election and January inauguration is on the doorstep.
We have to see how the $700 Billion bailout shake out plays out. (kind of rhymes :) ... for the housing and mortgage market to indicate what role and lwhat plan will work better for our 44th President.
Please contribute to a simmering and what is sure to become a boiling discussion and debate (argument ?) in the coming months.
I encourage everyone to chime in and speak your mind!! ... remember ,
$700 billion divided by $100 million is $7 thousand per Taxpayer !!
-----------------------------------
Related Posts
this is a comlicated issue as both candidates are inheriting the storm of the century. I do not envy them. I think the current administration missed the boat. I am ready for someone else having a chance.
After today, down 700+ points (at one time) on wall street after the rescue bailout bill was not passed, I am no longer sure what to think except we need parties to work together for once.
I am not sure I would want to win if I were either guy and get handed a 21st century Great Depression, a failed war and unhappy Americans.
I spoke with a close friend just a few minutes ago, he (has been) is a staunch republican. He said, that after today, the failure of the President to rally his own party to vote yes and support a bill drafted by his own party has convinced him to vote Democrat.