Housing May be Soon out of Reach for Many

from IBD:

Housing Crisis May Be Inevitable, Thanks To Government Meddling

With home prices soaring in most markets, this is the best time to be a homeowner since 2005. But there’s a downside: Thanks to continued government meddling, the housing market has rarely been more fragile. Is another housing crunch brewing?

We’ve talked before about the strength of the U.S. economy, particularly after tax cuts kicked in. And that’s still true. Unfortunately, 10 years after the 2008 financial crisis, there’s one exception: The housing market, which, despite superficial signs of health, remains dysfunctional. read more

Buckle Up for Housing Bubble Part Deux

by: the Common Constitutionalist:

It’s déjà vu all over again! Reports are coming in that the federal government is once again relaxing the rules regarding mortgages. The new rules being adopted by both Fannie Mae and Freddie Mac, the quasi-government mortgage insurers, decreased the down payment requirements from 5% to 3%.

Mel Watt, director of the Federal Housing Finance Agency said, “Through these revised guidelines, we believe that the enterprises will be able to responsibly serve a targeted segment of credit worthy borrowers with lower down payment mortgages by taking into account compensating factors. It is yet another much-needed piece to the broader access-to-credit puzzle.”

You may have noticed that Watt used the code words, “targeted segment”, which of course means minorities.

So who is Mel Watt? Well back in January, IBD warned us all of who he is. They wrote: “We warned that Watts swearing in as head of the Federal Housing Finance Agency would mark the start of the next housing bubble. We pointed out the Congressional Black Caucus former head has a soft spot for those who can’t afford homes and that as a Democrat lawmaker he pressed Freddie to lend even to ‘welfare recipients’ in his district.”

In other words, Mel Watt is a Social Justice Racialist. read more

Malkin Beats Me to the Punch

I am a Santorum supporter. Rather than just explaining why I don’t support the other schmoes, I’ve had a request to write an article explaining my support for him.

Well, it appears, I don’t have to. Michelle Malkin has expressed her support for Santorum as well as I ever could.

From Michelle Malkin:

Rick Santorum opposed TARP.

He didn’t cave when Chicken Littles in Washington invoked a manufactured crisis in 2008. He didn’t follow the pro-bailout GOP crowd — including Mitt Romney and Newt Gingrich — and he didn’t have to obfuscate or rationalize his position then or now, like Rick Perry and Herman Cain did. He also opposed the auto bailout, Freddie and Fannie bailout, and porkulus bills.

Santorum opposed individual health care mandates — clearly and forcefully — as far back as his 1994 U.S. Senate run. He has launched the most cogent, forceful fusillade against both Romney and Gingrich for their muddied, pro-individual U.S. Senate waters.

He voted against cap and trade in 2003, voted yes to drilling in ANWR, and unlike Romney and Gingrich, Santorum
has never dabbled with eco-radicals like John Holdren, Al Gore and Nancy Pelosi. He hasn’t written any “Contracts with the Earth”, as Newt did.

Santorum is strong on border security, national security, and defense. Mitt the Flip-Flopper and Open Borders-Pandering Newt have been far less trustworthy on immigration enforcement.

Santorum is an eloquent spokesperson for the culture of life. He has been savaged and ridiculed by leftist elites for upholding traditional family values — not just in word, but in deed.

He won Iowa through hard work and competent campaign management. Santorum has improved in every GOP debate and gave his strongest performance last week in Florida, wherein he both dismantled Romneycare and popped the Newt bubble by directly challenging the front-runners’ character and candor without resorting to their petty tactics.

He rose above the fray by sticking to issues.

Most commendably, he refused to join Gingrich and Perry in indulging in the contemptible Occupier rhetoric against Romney. Character and honor matter. Santorum has it.

Of course, Santorum is not perfect. As I’ve said all along, every election cycle is a Pageant of the Imperfects. He lost his Senate re-election bid in 2006, an abysmal year for conservatives. He was a go-along, get-along Big Government Republican in the Bush era. He supported No Child Left Behind, the prescription drug benefit entitlement, steel tariffs, and earmarks and outraged us movement conservatives by endorsing RINO Arlen Specter over stalwart conservative Pat Toomey.

I have no illusions about Rick Santorum. I wish he were as rock-solid on core economic issues as Ron Paul.

And I wish Ron Paul was not the far-out, Alex Jones-panderer on foreign policy, defense, and national security that he is.

If Ron Paul talked more like his son, Rand Paul, about the need for common-sense profiling of jihadists
at our State Department consular offices overseas and if he talked more about the need for strengthened visa screening and airport security scrutiny of international flight manifests, I might have more than a kernel of confidence that he would take post-9/11 precautions to guard against jihadi threats and protect us from our enemies foreign and domestic. But he doesn’t, so I can’t support Ron Paul.

Mitt Romney has the backing of many solid conservatives whom I will always hold in high esteem — including Kansas Secretary of State and immigration enforcement stalwart Kris Kobach, former U.N. ambassador John Bolton, and GOP Govs. Nikki Haley and Bob McDonnell. With such conservative advisers in his camp, Romney would be better than Obama. And a GOP Congress with a staunch Tea Party-backed contingent of fresh-blood leaders in the House and Senate will help keep any GOP president in line. Romney’s private-sector experience and achievements are the best things he’s got going. Only recently has he risen to defend himself effectively. But between his health care debacle, eco-nitwittery, and expedient and unconvincing political metamorphosis, Mitt Romney had way too much ideological baggage for me in 2008 to earn an endorsement — and it still hasn’t

changed for me in 2012.

Lest we forget, this election is not about choosing a showboat candidate to run against John King or Juan Williams or Wolf Blitzer.

It’s not about “raging against” some arbitrarily defined GOP “machine.”

For many grass-roots conservatives across the country, Romney and Gingrich are the machine.

And at this point in the game, Rick Santorum represents the most conservative candidate still standing who can articulate both fiscal and social conservative values — and live them.