Monday, August 04, 2008

Wake up, read Pravda

Federal bill may increase Oregon housing supply
Oregon home buyers and renters will have an expanded supply of housing as a result of federal legislation signed by President Bush last week.

It's not new home construction that increases the supply of housing, it's the federal government.

Measure 37 new houses = bad
Government new houses = good

Although attention has focused on the bill's much-debated mortgage relief for 400,000 U.S. homeowners and potential financial rescue of the nation's two largest home-mortgage insurers, Oregon's top housing official said the bill also will enable the state and private investors to pay for additional housing.

"state and private investors to pay" = "taxpayers to pay"

The private investors simply take tax dollars to finance their housing projects. This worked well with the bun cake shop in Portland.

The state credit is used to leverage bank loans for affordable housing at lower interest rates, typically 4 percentage points below market.

I love when the state is able to "leverage" things.

He said though the federal help is welcome, the state still is providing housing to only a fraction of eligible households.

What a way to start my Monday. I swear that I am reading from a state owned newspaper. Every comment in this article was from a government bureaucrat and the focus was on how this bill "benefits the state."

I'm almost positive that myself, as a homeowner who pays my mortgage on time, will not find any benefit here.

7 comments:

Anonymous said...

I thought you cancelled your subscription to "the Fishwrapper?"

Anonymous said...

Just antoher Taxpayer handout to the Illegal Aliens!

If you read FACTS published by Michelle Malkin or watch CNN's "Marketwatch" or read from the Hispanic Realtors assn. site, you will understand the TRUTH...Millions of ILLEGAL Aliens were/are allowed to get a home loan with NO ID or an ITIN and millions can't pay the real Mortgage and millions are being forclosed and YOU, yes YOU, the Sheeples taxpayer are getting it between the eyes again and again and again...But this is Good for the Economy?

Anonymous said...

Чего вы надеетесь когда вы живете в Советском Союзе? Правительственные контроли все. Сделайте по мере того как вы сказаны. Длиной живет СССР.

lol

Anonymous said...

I like Pravda. It is doing the best it can do. I only wish it were the Oregonian!


Wait....


lol

savageanglo said...

People bad, Government good.

Anonymous said...

Anon 141: Anyone interested in actual facts could easily research your assertion that illegals are to blame for the foreclosure debacle. In so doing, they will find that in direct contradiction to your assertion, illegal immigrants are foreclosing in far lesser numbers than other groups of homeowners.

I am no supporter of illegal immigration, but I'm certainly no supporter of liars either, and you are a liar.

Ted Kennedy's Liver said...

"The state credit is used to leverage bank loans for affordable housing at lower interest rates, typically 4 percentage points below market."

Translation:

Government types are going to dole out a bunch of your money and guarantee loans to their friends so that they can engage in the same sort of speculative real estate ventures that got us in the mess we are currently in. Then, when those friends of the govenment types default on their loans after pocketing huge wads of cash as "consulting fees" on their own defvelopment projects, the government types will pay off their loans with your money.