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When thinking about the actions of our country’s politicians, disgusting, sickening, repugnant, and demoralizing are just some of the words that spring to mind. Together with Wall Street bankers and assorted other miscreants, they caused the economic and real estate collapse, yet show no ability or inclination to fix it.
There are a couple of glaring examples of their ineptitude that presented themselves this week. Before getting into them, be aware that I am not making political statements toward or against either party,Cheap NFL Jerseys, as both Republicans and Democrats share much of the blame.
According to HotAir, the president on Wednesday said that his administration failed to provide enough support to struggling homeowners. Really,Wholesale NFL Jerseys, is that the problem? The Feds have accomplished zippo with any of their programs yet want to spew forth a few more! This president, like the previous few, has no concept of the realities of economics and real estate. He and his advisors erroneously believe that the government should try to be the savior, even though the evidence shows over and over again that their programs are making no headway.
Thus far, the debt reduction talks are a joke. Common sense tells us that there will need to be a combination of spending cuts and revenue enhancements (raising taxes and/or closing loopholes), as neither by itself will suffice. That does not mean that they should be equal, as spending cuts will need to be the bigger piece of that. The Republicans cannot insist on tax cuts to offset the closing of loopholes, and the far left side of the Democratic Party cannot keep entitlement programs off of the table.
As stated in previous articles, the U.S. and its citizens will need to endure much pain to get the country to firm footing. The U.S. has had years – actually decades – of frivolous spending and inflated housing prices, so we need to establish a solid base from which to build.
For real estate, that means completely ridding the financial system of such financial exotica as option ARMS, and tightly regulating derivatives and other Wall Street-created financing schemes. Banks need to require decent down payments (10% on houses; more on other property types) from property buyers, and offer basic financing programs to most of them. Owner financing needs to play a bigger part in the real estate market, so that mortgage notes are created in transparent transactions that never put taxpayer money at risk. If someone wants to sell a mortgage note to note buyers, then that is an option for them.
It’s time to shut down recently-launched government housing programs now. The current debt discussions reflect savings of $400 billion per year over the next decade, which does not come close to attacking yearly deficits that are 3-4 times that amount. Somehow, some way,Wholesale Jerseys, and some day, the politicians will have to pull their collective heads out of the ground and do the right thing for the country.

Alan Noblitt is the owner of Seascape Capital Inc., which buys real estate notes from individuals and provides business factoring and medical receivables factoring to businesses. Seascape Capital is an accredited member of the Better Business Bureau, with the highest score possible of A+. Mr. Noblitt may be reached at (858) 672-4678 or toll-free at 1-800-634-4697. If you would like to learn more about these areas and read informational articles, visit Mortgage Note Or seascapecapital.