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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I'm a Dem and I love the President, but to answer #2, he should have dealt better and faster with home values. They didn't do so because it cost too much to fix the whole problem but I think they could have addressed the margin much better than they did. That said, I wouldn't trade this President for any money. No one could have predicted how this economy was going to roll out or what things would prove, in hindsight, to be key. I think he's done a better job than pretty much anyone else might have.[/quote]

Why should they address home values at all?  They are over-inflated.  We know that, so what are we supposed to do, re-inflate them?[/quote]

A slower ride down would have been easier for the economy to absorb. The reason to address it is to try and dampen the shock in consumption. [/quote]

The President can't control the price of houses any more than the stock market.  It is what it is.  I know this hurt some people, but there's nothing that can be done.

[img]http://www.csmonitor.com/var/ezflow_site/storage/images/media/content/2012/0529-house-chart/12681023-1-eng-US/0529-house-chart_full_600.jpg[/img]

Take a look at this graph.  The black line is the Case Shiller index of home values.  This graph says that a home in 2006 was worth 2.3 times what it was worth in 2000.  By the end of 2011 it was worth 150% of what it was in 2000.

So how do you decide what is fair?  Can you honestly say that a home SHOULD be worth more than 150% of what it was in 2000?

I think a President should try to encourage renegotiation of loans vs. foreclosure.  But to suggest that he should actually alter the market value of homes is unreasonable.[/quote]

I am the original poster and I don't know how you interpreted my comments that way. I clearly stated that I thought the President could have done something on the margin, which in my understanding points to renegotiation of loans, targeting assistance to especially hard hit communities (e.g., Las Vegas) etc. I don't know how you got where you did but no one asserted the point you seem to want to argue. [/quote]

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