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Wednesday, May 18, 2011

postheadericon Obamaâs housing snake oil

I spent this past week outside the Washington, D.C., Beltway.

The stark contrast between the federal government-fueled affluence in our nation’s capital and the economic situation facing those who pay for that affluence is almost startling.

In “real America,” the house across the street is foreclosed and the bank is offering it at a distressed price.

In “real America,” the neighbor next door is a renter who walked away from his mortgage because his wife lost her job, and he couldn’t afford the mortgage.

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