April 28, 2008
Housing Bailout Backlash Grows Stronger
Housing Bailout Backlash Grows Stronger
Many Americans want no part of a government-funded bailout for troubled mortgage borrowers, and many are being heard saying things like, "why should American taxpayers have to pay to bailout reckless lenders and borrowers?"
The website Angryrenter.com, launched just recently, has a vitiation demanding that Congress not pass any bailout programs that reward risky borrowing and lending. The petition is gathering 40 to 50 signatures per hour, according to spokesman Adam Brandon, who adds that the site is already getting 15,000 visitors a day.
Many people would prefer the government do nothing at all to prop up the housing market — especially those hoping to buy in a more affordable market.
Tell us what you think. Use the comment link below to give us your feedback. And if you'd like to sign the petition, go to http://angryrenter.com to sign up.
Comments on Housing Bailout Backlash Grows Stronger
Aaron @ 3:36 pm
Well some of us were working and had two incomes coming in and lived within our means but lost our jobs,so how about us that have but our mortgage payements or our credit cards to just try and to keep our house and to strugle just like you all out there that don't want the goverement bailout…..some of us have kids and wives that we are going to be out in the street and trying to save our houses???? I wish there were people out there that are in my situation,we have worked hard to keep our house out of foreclosure and have run out of money,and we cant help we lost our jobs.
aj @ 3:18 pm
the mortgage problem wasn't created by wall street it was created by house flippers and speculators and lax lending practices that lured people inot overpriced homes. people making 60 thousand can't afford a 1200 sq ft house costing 500,000 dollars in a normal mortgage market.
Clarance @ 8:42 am
500,000 dollars for 1200 sqft house? what market are you looking at? where I am (northern ga) 500k will buy you a lot more than 1200 feet. Is that what prices are like now in Myrtle? Haven't been there since about 1998, but don't remember prices being that high there.