McCain the elistist NOT Obama
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McCain the elistist NOT Obama
| Thu, 08-21-2008 - 11:13pm |
Obama raps McCain for ignorance of his own houses
WASHINGTON - John McCain may have created his own housing crisis.
Hours after a report that the Republican presidential nominee-in-waiting didn't know how many homes he and his multimillionaire wife own, Democratic rival Barack Obama launched a national TV ad and a series of campaign stops aimed at portraying McCain as wealthy and out of touch.
With the economy the top issue in the race, Obama sought to turn McCain's gaffe into one of those symbolic moments that stick in voters' minds

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The other comes from money, went to the best schools in the country and is worth millions
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It is one thing to have the guy next door tell me he doesn't know much about economics but its another when the guy who is running for President admits this faux pas.
katie, I may be wrong on this, but my understanding is that Obama's grandparents were quite well off, and took care of his upbringing and schooling, at a level well above that of the "man on the street".
I personally purchased three homes between 2004 and 2005 and the interest rates on 30 year loans were, 5.875%, 5.375%, and 6.35%.
I don't believe just anyone can get into the military. They've learned their lessons with lowering standards. They may have loosened up things a bit in some areas but it's very minimal.
Not saying this is the case, but could he have gone on s scholarship?
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LOL,
I disagree with you, but I'm pretty sure
About the arugala comment, my DH knows what it is, he likes eating it, and would probably know how much it costs at the store, to quote my DH, "that just means he eats salad" does that make someone elite all of the sudden?
The truth of the matter is--those who qualify for prime fixed rate loans choose them.
There is no risk of having your payment go up. If they chose to take a slightly lower interest rate to save a few bucks a month at the risk of rates increasing then they weren't very bright. There is just no other explanation. If the couple of bucks a months difference offered by the adjustable rate really made the difference in qualifying for them then they were in NO POSITION to make the purchase. Owning a house and barely making enough to cover the payment is not wise decision making by any stretch. How would they replace a roof or heating system? Pay for a major plumbing repair? Let alone handle the increased interest rate payments that were potentially looming by choosing an "unknow"?
You realize on a loan of $100,000 the .5% lower rate you might have gotten on that adjustable rate would have saved you less than $50 month? If you need that $50 just to qualify or survive--you had no business buying the house....prime loan or not.
On the outside world, that's the equivalent of having parents and grandparents who are senior executives in a large corporation.
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