New York (CNNMoney) - The president's efforts to revive the housing market have largely failed. But is that entirely Obama's fault?
"I don't think anyone could have done anything to stabilize the housing market," said Ed Jacob, executive director of NHS Chicago, which provides homeownership and foreclosure prevention services. "This housing market was in far worse shape than anyone knew."
Hmmm...his major accomplishments in housing legislation, the only items he did not vote 'present' on in illinois legislature was to give millions of $$$ to a slumlord who played a major role in the purchase of the obama's house and more money to Valarie Jarrett so she could operate as a slumlord and destroy affordable housing for lower and middle-class income households. Even obama realized that if he continued to do that on the national level the media might notice.
Even before Obama was sworn in, the housing market was in far worse shape than anyone knew, our GDP was -8.9% instead of -2.9% but no one knew, our national debt under Bush was $12 trillion, not $10.3 trillion but no one knew, our resources were going to pay for a war of lies but no one knew, tax cuts for the wealthy did not create jobs but no one knew, and we were on the edge of a great depression but no one knew.
It's never his fault. Nothing that has happened in the USA has been Obamas fault. It's all someone else fault but never his! I swear I can't wait till November to send this incompetent impostor out of the White House! Obama is the worst president in the history of the USA.
I think Obama's plan helped some, but not enough people were helped out of this mess with his plan. I just hope he keeps trying things until something works.
Housing prices are based on many factors and the President of any country is the smallest factor possible when it comes to housing prices. You are living in la la land if you think Presidents have anything to do with real estate prices.
President Obama did all he could have done with a "do nothing congress" ..
Depends who you ask. If you ask any rational human being, the answer is "of course it failed, along with every other one of his economic policies". If you ask an Obama supporter, the answer is "it's Bush's fault".
Failure? Tough call. It's hard to hit a moving target. What solutions did Republicans offer? Let the homes be foreclosed and put The People and their families out in the street homeless. Republicans wanted to buy up the homes and discounted prices. That's all.