OK…so there’s always been this theory that there are many different planes of existence along the space time continuum. I now know this to be a fact!
What’s that? How do I know? Well…I’ve lived all my life in a world where the Democrat Party was the party of government expansion and socialist engineering of everything from our social lives to the economy. In that other plane of existence it was the Republican Party that is the party of limited government. It’s the Republican Party that opposes big government solutions for every social and economic ill.Well, now I’m on a totally different plane. In the debates the other night, John Sydney McCain came out in favor of the Federal Government coming in and buying up homeowner mortgages, renegotiating the terms of the mortgage and selling the homes back to the mortgage holder at the lower property value that exists in that Market. As a commercial Real Estate agent…I can tell you what a nut brained idea that really is. Let’s say the property values in a certain price range have fallen say 5% in value…You’re a homeowner who has done every thing right…you’ve paid your bills you didn’t over extend on your mortgage…you’ve been investing in your home and you’ve built up equity in this home. As things are…if nothing is done…in the short term, you will lose 5% of your equity and all will be well in a few short years after the market’s have sorted themselves out. Then let’s suppose the neighbors on either side of you are in danger of being foreclosed…so after the “Republican” candidate passes this idiocy, these neighbors go to the government and ask this new agency to bail them out and renegotiate their mortgage. So…along comes Billy Bureaucrat riding in on his white horse to save the day. Billy Bureaucrat does a study on the neighborhood and decides the market in your neighborhood hasn’t fallen 5%…but has actually fallen 20%…Now…as I understand this…Billy Bureaucrat turns in a report and the government buys up the mortgages of your irresponsible neighbors. Then these homes are sold back to your neighbors at the new value…of course these mortgages are closed as any other sale is closed and the new bank liens are recorded with the appraisals and mortgage liens included. Guess what that does for the comparable sales of the homes in that neighborhood? Guess what just happened to the equity in your home…instead of the market sorting this out…and you losing 5% of the equity in your home…now you lose an additional 15% equity!
In this new plane of existence, it is Barack Obama, the Democrat candidate that opposes this socialist scheme! It is the Democrat that is taking the conservative position in this foolishness. In the old plane of existence, Obama is known as the most liberal Senator in the United States Senate. He is the Golden Child, The One, The Messiah to all those Socailist/Communist left wing fanatics who live to increase government intervention in our markets. In the other plane of existence, Barry, (as he’s derisively called by the Republican Party) is the candidate of the left.
Well…here I am…in the new plane…McCain is for this crazy scheme, and Barry is against it. In this plane, the Democrat politician is taking the most popular, (conservative) position in the polls against this scheme…and it is the Republican candidate that is pushing for a socialist takeover of the mortgage market against the will of the American electorate according to all the polls on this subject. It is John Sydney McCain who want’s to put the Washington Bureaucracy in charge of choosing winners and losers in the real estate market!
You know what…maybe in this plane of existence, Congressman James Trafficant is still in the Congress in stead of cooling his heels in the federal pen…In that case…”BEAM ME UP SCOTTY!”.