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Trump Already Hurting the Middle Class

Discussion in 'Political Opinions & Beliefs' started by Lesh, Jan 20, 2017.

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  1. Lesh

    Lesh Banned

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    WASHINGTON ― With one of his first orders, President Donald Trump made it more expensive for working- and middle-class Americans to buy their first homes. The move will increase costs for 750,000 to 850,000 Americans in the next year alone, according to the National Association of Realtors.

    The Obama administration had said last week that the Federal Housing Administration would drop the cost of mortgage insurance it sells by almost a third to 0.60 percent. But after Trump took office, the Department of Housing and Urban Development, which oversees the FHA, told lenders the fee cut was off. The reversal of the reduction will mean that homebuyers who borrow $200,000 under the program will see their mortgage insurance fees go up by $500 a year relative to what the Obama administration had ordered, according to figures released by the FHA when the cut was announced.




    This hurts the middle class first time buyers as well as the housing and real estate industries
     
    Lesh, Jan 20, 2017
    #1
  2. Belch

    Belch Well-Known Member

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    Why is the federal government involved with selling insurance?
     
    Belch, Jan 20, 2017
    #2
  3. garyd

    garyd Well-Known Member

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    So Hud is now playing politics with people's lives? Some one needs to be fired...
     
    garyd, Jan 20, 2017
    #3
  4. Kode

    Kode Well-Known Member

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    Yeah, . . . . -trump!
     
    Kode, Jan 21, 2017
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  5. garyd

    garyd Well-Known Member

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    Trump didn't do that. HUD did. Time to fire some self important bureaucrats.
     
    garyd, Jan 21, 2017
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  6. Zorro

    Zorro Well-Known Member

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    Obama put this in place in his final week as President? Must not have been very important!

    Historic Fact: Donald Trump Will Be The First President To Support Gay Marriage From The Beginning.
     
    Zorro, Jan 21, 2017
    #6
  7. robini123

    robini123 Well-Known Member

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    A bit premature until we start seeing the economic numbers over the next year. Trump will likely do many things that may hurt or help the economy over the next year. What I want to see is in a year are the leading economic indicators trending up or down?

    Let us meet back here in a year to discuss that.
     
    robini123, Jan 21, 2017
    #7
  8. doombug

    doombug Well-Known Member

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    So obama said the insurance would drop? You mean like "if you like your doctor you can keep your doctor"? How can you lose something you never had in the first place?
     
    doombug, Jan 21, 2017
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  9. Margot2

    Margot2 Banned

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    Trump ordered Ben Carson to do it an hour after he was inaugurated.

    - - - Updated - - -

    What is net neutrality and why will Trump repeal it?
     
    Margot2, Jan 21, 2017
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  10. Professor Peabody

    Professor Peabody Well-Known Member Past Donor

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    Obama's guys still run the FHA. Looks like they're trying to sabotage Trump and should be fired immediately. Nothing in Government works that fast. Besides Carson hasn't even been confirmed yet.
     
    Professor Peabody, Jan 21, 2017
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  11. TRFjr

    TRFjr Well-Known Member Past Donor

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    Carson hasn't even been confirmed yet
     
    TRFjr, Jan 21, 2017
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  12. Surfer Joe

    Surfer Joe Well-Known Member Past Donor

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    Lol...Lies won't polish turds, son.
    Trump did indeed lay that turd as one of his first decrees.
     
    Surfer Joe, Jan 21, 2017
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  13. Surfer Joe

    Surfer Joe Well-Known Member Past Donor

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    Lol...Historic fact: trump will be the first president to do a reverse flip on gay marriage after some random gay guy insults him in public and he has his usual twitter meltdown.
    trump is obama.
     
    Surfer Joe, Jan 21, 2017
    #13
  14. cerberus

    cerberus Well-Known Member Past Donor

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    Just when we lose one anti-Trump spammer (thanks to me :cool: ) another one turns up! [​IMG]
     
    cerberus, Jan 21, 2017
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  15. Hedgology

    Hedgology Well-Known Member

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    8 years and 1 day later, how quickly we forget history.
     
    Hedgology, Jan 21, 2017
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  16. cerberus

    cerberus Well-Known Member Past Donor

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    And who's to say Clinton wouldn't have done it too?
     
    cerberus, Jan 21, 2017
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  17. Hedgology

    Hedgology Well-Known Member

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    Hmmmmm, it's hard to say. I don't doubt there is a possibility.
     
    Hedgology, Jan 21, 2017
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  18. robini123

    robini123 Well-Known Member

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    The better question is how is the above relevant to what I previously said?
     
    robini123, Jan 21, 2017
    #18
  19. mitchscove

    mitchscove Well-Known Member Donor

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    It would hurt them, us, and the economy more if the capital reserve dropped below the required 2%. Obama shouldn't have dumped this on the next administration in the first place since responsible governance would dictate that Trump's people analyze the current situation before allowing a change on their watch.

    The fiscal picture

    The FHA is required to have a capital reserve ratio of at least 2 percent. At the end of the last fiscal year, that ratio was 2.32 percent. On Jan. 9, the Obama administration said it would cut FHA premiums because of the mortgage insurance fund's financial health. That came as a surprise, because just a few months before, administration officials had said that they weren't planning to reduce FHA fees.

    With the fees now remaining unchanged, the FHA's capital reserves will presumably continue to build.

    Read more: http://www.bankrate.com/financing/mortgages/trump-halts-fha-fee-cut/#ixzz4WOek2oIe
    Follow us: @Bankrate on Twitter | Bankrate on Facebook
     
    mitchscove, Jan 21, 2017
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  20. squidward

    squidward Well-Known Member

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    Why should tax payers pay their insurance?
     
    squidward, Jan 21, 2017
    #20
  21. Eyeswideopen1989

    Eyeswideopen1989 Banned

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    More drivel not at all rooted in fact, but only your own hate.
     
    Eyeswideopen1989, Jan 21, 2017
    #21
  22. Hedgology

    Hedgology Well-Known Member

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    It's almost as if no one remembered the financial crisis…
     
    Hedgology, Jan 21, 2017
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  23. Lesh

    Lesh Banned

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    Yea Trump
     
    Lesh, Jan 21, 2017
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  24. Lesh

    Lesh Banned

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    So you're saying we should remove the mortgage tax break as well then

    If that's a Trump policy it would have been nice to know it BEFORE we elected this POS
     
    Lesh, Jan 21, 2017
    #24
  25. Seth Bullock

    Seth Bullock Well-Known Member Past Donor

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    If you want something you must be willing to pay for it.
     
    Seth Bullock, Jan 21, 2017
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