entitlements
Actually President Bush did boast about the high percentage of home ownership in the country. The FEDs did relax some of the underwriting regulations that some in the industry took advantage of. As we all learned from the ''Great Society'' programs (another Texan LBJ) when you make these programs too easy then it attracts those that take advantage of that system and they soon become looked upon as an entitlement. These programs did give the new homes builders a big advantage in the home sales market over existing home sellers. As this starts to sort itself out we will all suffer in higher interest rates and huge subsidies of these government loans systems and the FDIC system that backs most banks. I know other areas around Central Ohio are in more trouble than Pickerington.
These lenders that made the bad or questionable loans will be under the scrutiny of the FEDs for years to come. They also may lose investors thus reducing the amount of their customer base. I look to see some of the big central Ohio homes builders go out of business in the next 12 months or so.
I guess we will call this an adjustment in the home building industry.
Actually President Bush did boast about the high percentage of home ownership in the country. The FEDs did relax some of the underwriting regulations that some in the industry took advantage of. As we all learned from the ''Great Society'' programs (another Texan LBJ) when you make these programs too easy then it attracts those that take advantage of that system and they soon become looked upon as an entitlement. These programs did give the new homes builders a big advantage in the home sales market over existing home sellers. As this starts to sort itself out we will all suffer in higher interest rates and huge subsidies of these government loans systems and the FDIC system that backs most banks. I know other areas around Central Ohio are in more trouble than Pickerington.
These lenders that made the bad or questionable loans will be under the scrutiny of the FEDs for years to come. They also may lose investors thus reducing the amount of their customer base. I look to see some of the big central Ohio homes builders go out of business in the next 12 months or so.
I guess we will call this an adjustment in the home building industry.
