Mark it down now, April 2, 2013 is when the second housing bubble began. Why? The Obama Administration is pushing banks to issue new home loans to people with poor credit. President Obama is using community organizing tactics to try and manipulate a fragile market that could burst AGAIN because of bad loans to people who have not demonstrated they can take on a mortgage.
Unfortunately, we have seen this movie before during the Clinton Administration in the 1990s. President Clinton sowed the seeds of the first housing bubble by pushing the same type of policies President Obama and his team are now advocating for. History is repeating itself right before our very eyes.
Banks should only loan money to people who qualify – plain and simple. Knowing how President Obama and his team operate, I suspect people within the White House want everybody in America to own a home. The economic realities are that allowing people to buy who should not own a home in the first place will no doubt hurt the overall market in the long run as we saw with the house bust in the late 2000s. America needs real leadership right now, not an Administration that will start the next housing bubble. Will the media follow up with any questions?
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