Obama and his “rent to own” plan. Hey, it works for TVs and sofas

John Carney has a good discussion dissing Obama’s latest plan to turn mortgage holders into landlords. What scares me is not so much that this plan is totally unworkable and unconstitutional, but the president of the United States actually put this forth as a serious proposal. Does he run these brainstorms past any adults in the White House before issuing his decrees? And I don’t mean Joe Biden.

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6 responses to “Obama and his “rent to own” plan. Hey, it works for TVs and sofas

  1. anonymous

    One doesn’t learn basic economics or finance as a community organizer

    And academic economist advisors have never had a real job or run a real business in their lives either

  2. Anonymous

    But one does learn a hell of a lot at Columbia and Harvard Law.

    And I don’t know if you remember that the current occupant of the Oval Office successfully oversaw a campaign with an operating budget of $600 million, staff of several thousand and offices in 50 states. Managerial amateur? He did better than the last-and-only MBA president.

  3. Peg

    When the government starts to control everything…… why should real estate be exempt?

    I am so looking forward to kicking back and collecting my checks – along with the free health care, Christopher! 🙂

  4. Retired IB'er

    Let the former owners rent for a couple of years and then kick them out.

    This is just another stall tactic to keep more homes off the market and allow the banks to avoid writing down assets on their books. It simply is an attempt to delay further correction to when the economy will hopefully be in a better position to take the losses.

    More of the same from a US government that puts off until tomorrow everything they can get away with…

  5. Towny

    Retired has it right. Everything coming out of DC is to avert panic. Uncle Sam cant cover forever, though they are trying.

    Does anyone conclude that Goldman is running the Plunge Protection Team?