How about term limits on only those that don't perform?

I can see a big problem with having neophytes in government every few years, and with the way elections overlap..what kind of continuity would we get?

We should kick some of these fossils out... Peter King is a thug...basically a westie who has been in office for more years than he has been useful... He has been known to write editorials vilifying constituents who disagree with him.

Ooops I just went my apolitical bent lol


I guess Strom Thurmond did a good job for the people he representes... as service was glacially long.. was he the only one who could have done that job?

Here's my take on the first two things that need to happen.

Being that people's home is typically their biggest form of investment - I think the following needs to happen.

#1 401k, 403b, whatever your investment vehicle of choice. You should have some ability to remove those funds from a retirement account without being doubly taxed. There needs to be more flexibility there.

#2 both Fannie Mae and Freddie Mac are govt propped up subsidies, right. Well - I agree on Wayne's 20% down process to refinance or buy - Just look at Texas real estate after the S & L debacle.

What I would like to see is a 6 month or 1 year mortgage rate guarantee by the federal govt. From Feb 15th, 2009 to August 15th, 2009, the fed guarantees a 30 year fixed loan (you have to have 20% down or 20% equity in your home, independent appraiser) top 1/2 credit score and you can qualify for a rate of 4.0% Rate. This is for owner occupied property ONLY.

First time homebuyers get a 4.25 fixed 30 year with 10% down.

I think this would stabilize the housing free fall and free up some monthly money to put back into the economy.

I think the first thing that needs to happen is housing to stabilize. Foundation first then we'll worry about the cars and big screen TV's.

I am actually withdrawing the bulk of my 401k to have the 20% for the house I am going to buy. It makes more sense then letting it free fall with stocks and bonds and I get to be a home owner...

:cool:

It depends on the number of years. In VA the governor is a one term deal. It's a 2 year term. I never know who the governor is because it changes so quickly.

There is a benefit to being new, just as there's a benefit to being around to know how to get things done. Politician shouldn't be a lifetime job however, nor should it be a vehicle for setting yourself up for future employment (lobbiest, law firm partner, etc.).

Rates have been below 5%. The problem isn't the financing rate. The problem is oversupply and unwinding of speculative activity. Also, we're still seeing housing prices well above normal median income multiplies. Lastly, demand has curtailed as underwriting has tightened. A 600 score will get you nowhere fast. So, again it's not rates. New home and existing home sales have been very weak despite low (near record low) interest rates. Activity is focused on distressed RE and lower-priced properties. The move-up home market is very weak to dead.

Re.: Fannie Mae & Freddie Mac
 

Watch this video

http://www.youtube.com/watch?v=cMnSp4qEXNM&NR=1

"STAGFLATION".

You heard it here first.

Rates are going to be ZERO or nearly zero for the foreseeable future and we're still going to see jobs shed by the hundreds of thousands. I'm betting we see 15% UE before this thing stabilizes, much less turns around. No joke.

Me too. Anyone here seriously involved enough in politics to get something started?

"self economy" first and last.

You're not going to fix anything and it doesn't affect you one way or the other anyway.
There, I've said it.

Canadians two cents ;)

Ugghh... Come on Wayne. We all have to make some sacrifices to help turn this thing around. I just remodeled a kitchen and paid about 30% more to avoid the world polluting, nuclear proliferating, human right abusing, communist China. There are no publishers in the US?

By they way, is Bursch exhaust still made in the US, I couldn't find an answer on the web? I need some headers :)

Jesse