Posts Tagged ‘housing mortgage crisis’

Barack Obama Is Bringing Americans Together – As ROOMMATES Because Rent In His Regime Is Too Expensive For People To Live Alone Anymore

May 18, 2012

Barack Obama is bringing America together.

No, he’s not doing it the way he deceitfully promised when he said he would transcend the political divide and that this wasn’t red states and blue states but the United States.  Obama lied like your floor rug on that.  He’s the most polarizing president in American history because he demonizes his opposition like no American president EVER did.  According to Obama, Republicans are people who crave dirty air and dirty water and celebrate every time a child is born with autism or Downs Syndrome.  And of course we should break America up into racial groups and those groups should “punish their enemies.”  No, rather, Obama is bringing Americans together in a very literal way: because Americans can no longer afford to live alone anymore.

This year about 30% of adults, 69.2 million people, are living in doubled-up households, compared with 27.7%, or 61.7 million, in 2007, according to a September report on income, poverty and health insurance from the Census Bureau.

The completely failed Obama presidency has done NOTHING to solve the housing mortgage crisis that actually caused the 2008 collapse.  If anything his failed policies have made that crisis WORSE and certainly stalled any hope that a free market be allowed to self-correct.

Maybe that was Obama’s plan: because he’s brought us together in a unique way.  Because of his failed presidency, more Americans than ever before are forced to live with a roommate because they can’t afford to pay “ObamaRent.”

Rents Keep Rising, Even as Housing Prices Fall
By MOTOKO RICH
Published: February 24, 2012

The housing market remains a potent drag on the economy as home prices continue to slip, foreclosed homes fill some neighborhoods and millions of construction workers scramble for jobs.

But one group is sitting pretty: landlords.

Unlike home prices, rents have been rising, up 2.4 percent in January from a year earlier, according to recent data, not adjusted for inflation, released by the Labor Department.

With few rental buildings erected over the last few years, available units are going fast. Nationwide, the apartment vacancy rate is down to 5.2 percent, its lowest level in more than a decade, according to the research firm Reis Inc.

[…]

“We are more of a renter nation than we have been for a while,” said Christopher J. Mayer, a professor of real estate at the Columbia University Business School.

It’s an interesting state of affairs: home values and prices are plunging because nobody can afford one or will take the risk of buying a home in this economically dying country.  But people – including poor people – have to live somewhere (at least until cardboard boxes and park benches start looking like better prospects): so rents are skyrocketing.

Obama has “fundamentally transformed” America into a nation of renters.  And more Americans are now forced to live with roommates than ever before:

Home Invasion! How Old Is Too Old for Roommates?
With apartments scarce, even settled, married couples are opening up their homes to strange bedfellows.
By Rachel R. White 5/09 10:55am

When Michelle, a writer working on a first novel, tells people her husband, Daniel, is a hedge fund manager, they often remark, “Oh, honey, you did well.” And she did. The recently married pair live in a large dazzling loft in Dumbo. They currently rent, though they’ve started looking at places to buy and are getting serious about a second home upstate.

But Michelle and Daniel’s living situation was dealt a serious blow by the economy when Hannah, Michelle’s friend from Columbia, found herself without a job or home. The couple gave her a place to crash, and Daniel found he had to navigate a new morning routine. He was careful to get dressed in the bedroom before venturing out to make coffee, and he learned to keep especially quiet as he pored over the Wall Street Journal and the Times before work, so as not to wake Hannah, dozing on the guest bed in the corner.

Thanks to stagnant employment rates and rising rent prices, such situations appear to be increasingly common. Browsing Craigslist for single-room listings that include the phrase “we are a couple” brings up 131 posts from the week of April 30–May 7 alone. Stephanie Diamond, founder of The Listings Project, an email resource for renters in New York City, says she’s also seen a rise in couples seeking roommates. So has Jonathan Miller, the president and CEO of Miller Samuel Inc., a real estate consulting firm. “More people are sharing rents—doubling up—whether with family or roommates,” he said.

Remember the new book Going Solo: The Extraordinary Rise and Surprising Appeal of Living Alone by NYU sociology professor Eric Klinenberg? Forget it. Mr. Miller calls the whole idea “bizarre,” pointing out that housing formation has lately fallen—which means that more people are actually living together.

Or – if you’re a college graduate who can’t find a job in Obama’s God damn America – live with your parents in their basement.  That’s what Obama meant when he said “hope and change,” you just didn’t read the fine print:

Survey: 85% of New College Grads Move Back in with Mom and Dad
By Erica Ho | @ericamho | May 10, 2011

The kids are coming home to roost.

Surprise, surprise: Thanks to a high unemployment rate for new grads, many of those with diplomas fresh off the press are making a return to Mom and Dad’s place. In fact, according to a poll conducted by consulting firm Twentysomething Inc., some 85% of graduates will soon remember what Mom’s cooking tastes like.

Times are undeniably tough. Reports have placed the unemployment rate for the under-25 group as high as 54%. Many of these unemployed graduates are choosing to go into higher education in an attempt to wait out the job market, while others are going anywhere — and doing anything — for work. Meanwhile, moving back home helps with expenses and paying off student loans.

The outlook isn’t sunshine and roses: Rick Raymond, of the College Parents of America, notes, “Graduates are not the first to be hired when the job markets begins to improve. We’re seeing shocking numbers of people with undergraduates degrees who can’t get work.”

Guess moving back home isn’t limited to philosophy majors anymore.

By the way, absolutely nothing has changed in the last year: an article that came out May 15, 2012 says the figure is STILL 85%:

Boomerang kids: 85% of college graduates must move back home
By Jessica Dickler | CNNMoney.com – May 15, 2012

Editor’s note: Politifactrecently called into question a survey cited in the 2010 CNNMoney article below. The survey, conducted by a company called Twentysomething Inc., found that 85% of college seniors planned to move back home with their parents after graduation. At the time, CNNMoney interviewed the head of Twentysomething, which today is no longer in business. A survey conducted by the Pew Research Center in December 2011 found that 53% of 18- to 24-year-olds are living with their parents or moved back with them temporarily during the past few years.

Getting a degree used to be a stepping stone to limitless career opportunities. Now it’s more of a hiatus from living under your parents’ roof.

Stubbornly high unemployment — nearly 15% for those ages 20-24 — has made finding a job nearly impossible. And without a job, there’s nowhere for these young adults to go but back to their old bedrooms, curfews and chore charts. Meet the boomerangers.

“This recession has hit young adults particularly hard,” according to Rich Morin, senior editor at the Pew Research Center in DC.

So hard that a whopping 85% of college seniors planned to move back home with their parents after graduation last May, according to a poll by Twentysomething Inc., a marketing and research firm based in Philadelphia. That rate has steadily risen from 67% in 2006.

“It’s peaking at levels we have not seen before,” said David Morrison, managing director and founder of Twentysomething.

Mallory Jaroski, 22 graduated from Penn State University in May but has been living at home with her mother while looking for a job in press relations. “It’s not bad living with my mom, but I feel like a little kid. I have a little bed, a little room,” she says.

Jaroski thought she would stay for summer. But like many others, she’s found her stay becoming significantly longer.

College Students voted for Obama in huge numbers.  And now they’re getting what they voted for: the most wicked and wickedly failing president in American history.

Now a lot more Americans are living the “college lifestyle” thanks to Obama:

This year about 30% of adults, 69.2 million people, are living in doubled-up households, compared with 27.7%, or 61.7 million, in 2007, according to a September report on income, poverty and health insurance from the Census Bureau.

Late last year I wrote, “Housing Under Obama Worst Since Great Depression – With Poor And Minorities Most Screwed By ‘Hope And Change’.”  Last year i wrote, “Obama’s ‘Hope and Change’ In Action: Poverty At Highest Number In 52 Years Census Bureau Has Tracked It.”  It hasn’t got any better since.

As a result of Obama’s demonic demagogic class warfare policies that punish workers by forcing employers to cut their workforces, black people have been set back DECADES. And women are losing ground. Obama is HURTING the poor while falsely and cynically claiming to be helping them.  Here are four headlines about the very base that makes up the Obama constituency that I wrote about last year:

After decades of hard-fought progress, black economic gains were reversed in Great Recession

Hispanics’ Unemployment Rate Soars

Women Losing Ground as Jobs Crisis Rages

U.S. Youth Unemployment At Arab Spring Levels

And let me add one about the young people that Obama’s damn-fool policies have failed JUST AS CONSERVATIVES TOLD ANYBODY WHO WOULD LISTEN THEY WOULD:

Teen Unemployment Another Proof Of How Desperately Wrong Obama, Democrat Policies Are And How Much They Hurt Little People

I can CONTINUE to document that the “Democrats’ War On Poverty Has Been A War On America That Has Done NOTHING To Help The Poor.”  I can continue to document that thanks to Obama “Inflation Is Back On The Table As Part Of Obama’s ‘Hope and Change’ Misery Buffet.”

The ONLY reason the unemployment rate is going down is because three people continue to abandon any chance of ever getting a job for every ONE person who is able to actually get a job.

It is a fact that “Real Unemployment Is Skyrocketing With A Record 88 Million Working-Age Americans Out Of Labor Force In Obama’s God Damn America.”

It is a FACT that the “Rapidly Worsening Labor Participation Rate Is Now Lowest In More Than THIRTY YEARS Under Obama’s Failed Regime. PLEASE LOOK AT HISTORY!!!.”

So let me simply ask: “Where Are The Jobs, Obama You Liar???

Who’s Fearmongering The Economy? Obama Speaks, And 30-Year Bond Is ‘Dragged To The Slaughterhouse’

July 19, 2011

The mainstream media would never make this connection (at least, not until a Republican is president again), but let it be known that the slaughter of the 30-year long bond was the DIRECT RESULT of Barack Obama saying he will veto any bill that seeks to balance the federal budget.

Obama wants reckless spending until America financially implodes.  Investors are going to get wise to the fact that there won’t BE a 30-year Treasury bond in thirty years.  Because there won’t be a viable United States to make good on it.

As Obama Says He Will Veto Any Republican “Cut, Cap” Deficit Bill, Long Bond “Dragged To Slaughter House”
Submitted by Tyler Durden on 07/18/2011 12:38 -0400

Just because someone is dead set on making Apple the only flight to safety in the world (and Gold of course, but unlike the iPad one can’t really eat this particular tradition), around the time (10 minutes ago) Obama threatened he would veto the Republican proposed vote to raise the debt ceiling coupled with a cap on spending and balanced budget amendment to the constitution, the selling off spilled over to Treasurys, which as the chart below demonstrates are broadly lower across the curve, but most emphasized at the 30 Year spot, which as Russ Certo says (see below) is being “dragged to the slaughter house.” Alas, judging by bank trading today the 2s30s steepening is completely irrelevant for bank stocks, for the simple reason that i) nobody needs any new mortgages and ii) nobody actually pays their mortgages. This is the second day since last week in which there is coordinated selling in stocks and bonds. Expect much more bond weakness with each day there is no bond deal.

Commenting on the move, Gleacher’s Russ Certo told Bloomberg that “vigilantes make a symbolic statement” about debt ceiling negotiations. “It’s the issue most sensitive to government ineptitude” Certo says of 30-yr bond “It’s all about the long bond as the 10-yr is being dragged to the slaughter house.” We couldn’t have said it better.

It’s long past time to realize that Barack Obama is an enemy to business, he is an enemy to the U.S. economy.  And either Obama goes or America goes.

I’ve been pointing out that business leaders have predicted that Barack Obama would destroy the U.S. economy.  I can literally quote myself quoting myself quoting those business leaders on that.  From my February 13, 2009 article titled, As Economy Tanks Under Obama, CEOs, Investors Say, “We TOLD You So”:

And what is causing this incredible momentum to the economic meltdown under Obama’s watch?

Let me quote myself – even as I quote from the September/October issue of Chief Executive Magazine:

People are most concerned about jobs right now; maybe they should stop listening to mainstream media ideologues and start listening to the people who actually create jobs:

Chief Executive Magazine’s most recent polling of 751 CEOs shows that GOP presidential candidate John McCain is the preferred choice for CEOs. According to the poll, which is featured on the cover of Chief Executive’s most recent issue, by a four-to-one margin, CEOs support Senator John McCain over Senator Barack Obama. Moreover, 74 percent of the executives say they fear that an Obama presidency would be disastrous for the country.

“The stakes for this presidential election are higher than they’ve ever been in recent memory,” said Edward M. Kopko, CEO and Publisher of Chief Executive magazine. “We’ve been experiencing consecutive job losses for nine months now. There’s no doubt that reviving the job market will be a top priority for the incoming president. And job creating CEOs repeatedly tell us that McCain’s policies are far more conducive to a more positive employment environment than Obama’s.”

Disastrous for the country.” That doesn’t sound good.  And that’s about as optimistic as the CEO’s get about Barack Obama:

“I’m not terribly excited about McCain being president, but I’m sure that Obama, if elected, will have a negative impact on business and the economy,” said one CEO voicing his lack of enthusiasm for either candidate, but particularly Obama.

In expressing their rejection of Senator Obama, some CEOs who responded to the survey went as far as to say that “some of his programs would bankrupt the country within three years, if implemented.” In fact, the poll highlights that Obama’s tax policies, which scored the lowest grade in the poll, are particularly unpopular among CEOs.

Bankrupt the country within three years.” There.  You want socialism, you can have it.  “Spread the wealth around” so that country itself ultimately becomes as broke as the defaulting homeowners and the defaulting mortgage houses we keep hearing about.

The Chief Executive Officers were very clear in their assessment: an election of Barack Obama would result in an economic disaster.  And don’t think that a significant part right now of the terrible climate for the economy, and for business and jobs, is who is running the show.

Obama’s disastrous economic policies would “bankrupt the country within three years.”  And here we are, two years and seven months later, facing default.  We’re right on schedule.  And the CEOs had the economic understanding to recognize that it would ALL be Obama’s fault.

Now, the only thing that Democrats are skilled in (to put it the other way, they are incompetent at everything else), is demonization.  Democrats know how to demonize, demagogue, fearmonger and backstab better than anyone on the planet, bar none.

But business experts PREDICTED we would be in this situation; and they well understood and continue to understand who is causing this crisis: Barack Hussein Obama.

I also wrote an article earlier this year titled Instability, Food Riots And A Heaping Dose Of ‘I Told You So’ which referenced my November 24, 2008 article titled Renowned Economic Forecaster Says US Headed For Total Collapse.  The 2008 article contained a prediction by Gerald Celente that under Obama, we would have revolution, food riots and tax rebellions by 2012.  And we’re right on schedule.

This is why I have been so angry.  When I heard those Jeremiah Wright tapes (the racist, Marxist, anti-American “reverend” whom Obama called his “spiritual mentor” for over 20 years), I knew that Barack Obama was a truly evil man. You don’t sit in a toxic, poisonous, hateful environement like that for that long if you aren’t genuinely evil yourself.  And I knew that we were headed for “God damn America.”  It was as though I had had a vivid vision of the future – culminating in the implosion and collapse of the country that I have loved and served.

We’ve got a top very-recently former SEIU official caught on tape talking about deliberately imploding America by deliberately destabilizing the already destabilized housing mortgage crisis.  And I point to Obama’s words regarding SEIU: “Your agenda is my agenda (3:15 in the video below).”  He promised SEIU “to make your agenda a reality” (1:22 into the video below).

And prior to the SEIU (whose agenda is Obama’s agenda) official describing the agenda to financially implode America, I was writing about the liberal goal of the destruction of America by means of the “Cloward and Piven” approach to implode America through the sheer massive weight of its welfare system.

Things are bad.  And they’re certainly going to get worse.  Not that the man we foolishly and despicably elected to be our president gives a damn.