Skip to main content

Bob Corker, mortgages and down payments: I wish the Republicans had won this battle

I think Sen. Bob Corker has the right idea with his proposal to require home buyers to put 5 percent down on the purchase of a new home in order to qualify for a mortgage. And I can honestly say I'm disappointed with Democrats for defeating the proposal.

Opponents of Corker's measure apparently say it disproportionately affected minority communities. Seems to me that it really affects people who simply cannot afford to buy a house. And that's unfortunate: In my perfect socialist world, everybody would have the resources to own their own. That's not the world we live in, though, and it seems Corker's proposal would have gone a little way toward saving potential homebuyers and banks, both, from their own worst practices. The alternative is bailout culture and/or massive rounds of foreclosures. That can't be good for anybody, can it?


Aileen said…
Is this where I tell my own tale of woe? $30,000 to put down on a $140,000 house and still not able to get a mortgage? That I'm a "ghost" to the mortgage system because I have no credit score?

yeah. Probably not. I dug myself into this hole, I'll dig myself out.
Joel said…
Well, and that also seems very weirdly wrong, Aileen. You shouldn't have to use credit for EVERYTHING in order to get credit for anything. Very weird, and I'm sorry.
KhabaLox said…
How odd that it's the Democrats who are defeating Republican attempts to regulate the markets. Did someone dial the clock back 50-75 years?
Joel said…
Heh. I briefly had a similar thought, K. But I thought it might distract from my point if I started talking about Bob Corker's paternalistic nanny state tyranny.

Popular posts from this blog


I've been making some life changes lately — trying to use the time I have, now that I'm back in Kansas, to improve my health and lifestyle. Among the changes: More exercise. 30 minutes a day on the treadmill. Doesn't sound like a lot, but some is more than none, and I know from experience that getting overambitious early leads to failure. So. Thirty minutes a day.

One other thing: Yoga, a couple of times a week. It's nothing huge — a 15-minute flexibility routine downloaded from an iPhone app. But I've noticed that I'm increasingly limber.

Tonight, friends, I noticed a piece of trash on the floor. I bent over at the waist and picked it up, and threw it away.

Then I wept. I literally could not remember the last time I'd tried to pick something off the floor without grunting and bracing myself. I just did it.

Small victories, people. Small victories.

Liberals: We're overthinking this. Hillary didn't lose. This is what it should mean.

Nate Cohn of the New York Times estimates that when every vote is tallied, some 63.4 million Americans will have voted for Clinton and 61.2 million for Trump. That means Clinton will have turned out more supporters than any presidential candidate in history except for Obama in 2008 and 2012. And as David Wasserman of Cook Political Report notes, the total vote count—including third party votes—has already crossed 127 million, and will “easily beat” the 129 million total from 2012. The idea that voters stayed home in 2016 because they hated Donald Trump and Hillary Clinton is a myth. We already know the Electoral College can produce undemocratic results, but what we don't know is why — aside from how it serves entrenched interests — it benefits the American people to have their preference for national executive overturned because of archaic rules designed, in part, to protect the institution of slavery. 

A form of choosing the national leader that — as has happened in …

I'm not cutting off my pro-Trump friends

Here and there on Facebook, I've seen a few of my friends declare they no longer wish the friendship of Trump supporters — and vowing to cut them out of their social media lives entirely.

I'm not going to do that.

To cut ourselves off from people who have made what we think was a grievous error in their vote is to give up on persuading them, to give up on understanding why they voted, to give up on understanding them in any but the most cartoonish stereotypes.

As a matter of idealism, cutting off your pro-Trump friends is to give up on democracy. As a matter of tactics, cutting off your pro-Trump friends is to give up on ever again winning in a democratic process.

And as a long-term issues, confining ourselves to echo chambers is part of our national problem.

Don't get me wrong: I expect a Trumpian presidency is a disaster, particularly for people of color. And in total honesty: My own relationships have been tested by this campaign season. There's probably some damage…