My career took off with Obama in the White House. Made more money than I could have dreamed. Was that because of Obama? Not really, though the first time homeowner credit did help me stay employed through some pretty tough times, but mostly because I worked hard and didn't use who was President as an excuse to suck at life.
Actually if right wingers had their way GM would have closed their doors and it would have sent the country into a depression. Yeah that's smart. Lets let one of the largest employers in America close their doors while the country is losing millions of jobs.
I will explain Clinton. This due to my owning the Real Estate firm in a high price area and opening up the full time Appraisal office when he was president. Early Clinton the market suffered so much. Prices under Clinton fell like they were a balloon made of lead. Buyers would not buy in the falling market unless desperate or full of hope. But doing hundreds of appraisals in the SF Bay area made me the expert here this forum, on this market. i was besieged by loan brokers to up the value. I told all of them this message. If the home is exceptional in that market, i will work extra to prove the value is higher and deserves a higher value. If the home is not special, the owner has no chance of a crooked appraisal with a bogus higher price. There will always be special homes that buyers favor and my long years selling real estate will point me to answers. But too often the high price sought by the loan broker was not supported. When the Dotcoms kicked in hard, now we had a rising market. But even then, the lower priced comparables drove loan brokers crazy. I saw some crooked appraisals touting the value much more so lenders called on me to verify the work done by other appraisers. I documented cases of outright fraud. And other times the appraiser was correct on value but his methods to get the price were pure faked. It was a miracle when one of those manage to dial in the correct value, but some got lucky. Clinton did not cause the dotcom boom. So he did not cause prices of homes to start to go up. But I do not know of an act by him to cut down prices. The market does as it wishes.
If the market does what it wishes, then it would be correct to say that Trump had no influence on the housing market boom that started in 2014, right?
The GM bailout was Obama. Bush bailed out the banks that started the mess, though I believe that was necessary as well.
Here is the difference between you and me. I started this career in 1971 so i have been doing this through many presidents. I also studied this field a number of times to work out why markets increase vs stay stable or drop. I might have a different belief had i started when Obama shows up. When my career started to soar, Nixon was the president. Bush did not cause the market decline and Obama did not cause it to go up. I made a huge amount of money by diversifying. I added the appraisal business to the loan business and it worked out wonderful.
I agree the market recovered a bit at the time you specify and by your logic, Obama did not cause it. Why would it happen faster under Trump? Trump rushed out to solve this problem. Trump gave signals to the economy to jump start. How? His tax policy for one thing. His call to make America Great actually did work to a degree. And the general mood of the public got better and they parted with their cash easier. But no president by himself creates such a market. Same reason i lectured that Bush never harmed it either.
Obama agreed with Bush and he did the second bail out. Bush shoveled 25 17.4 billion dollars into GM prior to the election. https://www.newyorker.com/news/john...s-george-w-bush-who-bailed-out-the-automakers
Bush poured billions to the Banks no doubt. But the Banks did not want nor need the money. Bush actually shoved it down their throats to their heated objections. Still they all paid back the Government. Bush said he did it to stoke public confidence. Again you must not know that Bush handed the Auto industry the 17.4 Billion. i said 25 billion but had the wrong number in mind.
Thousands of auto dealerships closed up for business. Obama got his share of bashing but then look back at the bashing Bush endured.
Yeah it was Obama's fault that predatory lenders harmed the loan business. How many ARM's did you push on people who you knew would be screwed?
Banks have thousands of experts employed. Be a cold day in hell that they could collapse the market. Their experts would prevent it. Banks never started the mess. Who did? Well I blame both Fannie Mae and Freddie mac. Why? They made the rules we lenders had to follow. And we followed them over the cliff using their rules and forms and regulations.
Are we supposed to believe that the economy magically improved within a month of Trump taking office? I'd like to know what he did during that first month that turned it all around.
So called predatory lenders (they exist alongside those illegal aliens I suppose) made loans that obeyed the Fannie and Freddie rules. ARMs date all the way back to Nixon. Few Democrats understand the housing lenders business. So they make stuff up bad about us. Supposedly we learned a way to absolutely force solid cash down the throats of protesting buyers or home owners. WE made them borrow. I mean we FORCED them to WANT cash. Name a time when any Bank forced money onto you? When you failed to qualify for said funds.
I can't fix what you don't know, but try looking at this. Stocks started soaring early in the Trump era. Banks saw it and were ready to roar. Then Dodd Frank passed and that slowed things down a lot under Obama. Comes Trump and the remaining lenders took control on their end and started lending again.
ARMs date way way back. Nixon was president when they came out. They later got to be more popular when people trusted them more.
The answer is a little more complicated than a simple "yes" or "no". It's far from a simple "yes". However, this answer is for America, so it may not necessarily apply where you are. I think in the particular case of your country, the job market is still very good.
They struggled up under Clinton, soared under Bush then tumbled and during OBama struggled again. We are soaring under Trump. I have personally sold property since 1971 and saw all kinds of markets in the meanwhile.
I don't know what James could have made under Obama but as a fall College Senior, he currently earns during this summer at Facebook $8,000 wages and $1600 per month living expenses so he is knocking out $9600 per month. But he will graduate in 2019 in the computer field as an engineer.
Robert ... please. Anybody can see that housing prices in California rose 55% between Jan. 2012 and Jan. 2014. And that between Jan. 2006 up to Obama taking office in early 2009, that the Bush bubble had already burst and prices dropped 50%. That's public record. Please, don't try to piss on our backs and convince us it's raining - that's just downright impolite.
