Kyle and her husband moved to Brookfield in 1986. She became active in local politics and started blogging in 2004. Her focus is primarily on local issues but often includes state and national topics, too. Kyle looks at things from the taxpayers' perspective in a creative, yet down to earth way, addressing them from a practical point of view.
No doubt about it. The stock market is in a mess, and we are finally reaping what we have sown. The years of too easy credit are finally coming to an end.
Last summer the sub-prime mortgage fiasco hit. The housing market went into a slump. It was during this time that we sold my father's Shorewood home.
We decided to use one of those lower commission real estate agents, and so I was more involved in dealing with the buyers. I was shocked that prospective buyers were no longer pre-qualified as we had been 22 years ago, when we moved here in 1986. That was quite a change, I thought. How do you know if the buyer can afford the house?
Well, ability to make payments was not considered. That was the problem with sub-prime mortgages!
The Real Culprits In This Meltdown Obama in a statement yesterday blamed the shocking new round of subprime-related bankruptcies on the free-market system, and specifically the "trickle-down" economics of the Bush administration, which he tried to gig opponent John McCain for wanting to extend.
http://seattletimes.nwsource.com/html/realestate/2003621606_subprime18.html Subprime meltdown
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