Marco Rubio, Who Bragged About Living In "Working Class" West Miami, Is Selling His $675,000 House
Source: Miami New Times
Marco Rubio -- the Tea Party's wunderkind, GOP's great not-too-white hope, and water's most awkward chugger -- had his moment in the national spotlight last night, delivering a rebuttal to President Obama's State of the Union speech in both English and Spanish. The reviews are in, ranging from the Daily Beast's "winsome" to Maureen Dowd's "parched, sweaty and shaky."
But let's talk for a moment about his humbleboast, "I still live in the same working-class neighborhood I grew up in." Yes, that would be West Miami, where Rubio has been trying to sell that house for an un-working-class-like $675,000 so he can up and move his family to GODLESS ELITE DC.
Here's what he said about his hood:
Mr. President, I still live in the same working class neighborhood I grew up in. My neighbors aren't millionaires. They're retirees who depend on Social Security and Medicare. They're workers who have to get up early tomorrow morning and go to work to pay the bills. They're immigrants, who came here because they were stuck in poverty in countries where the government dominated the economy.
West Miami is, in fact, a fairly blue collar town, just west of tonier Coral Gables. But it's pretty brazen to put your residence there in a nationally televised speech when 1) you are actively trying to leave that working-class neighborhood and 2) you stand to make more than a half-million bucks by doing so.
Read more: http://blogs.miaminewtimes.com/riptide/2013/02/marco_rubio_who_bragged_about.php
Here is more information about the "interesting" financing Rubio received to move into his 700,000 dollar working class neighborhood.
Excerpt:
"Rubio's questionable financial judgment re-emerged just two months after his September 2005 ceremony with Jeb Bush. Back then, he owned one home, a small ranch-style place in West Miami on SW 14th Street that he'd purchased in 2003 for $175,000.
In December 2005, he bought a new, larger house a few blocks away on SW 13th Street for $550,000; he took out a $495,000 mortgage.
The fishy part: A month after Rubio purchased the home, U.S. Century Bank reappraised the house at $735,000 and then offered him a new $135,000 home equity loan that the speaker gladly accepted. U.S. Century's board of directors included Sergio Pino -- a megadeveloper who allied with Rubio on a key vote against slot machines -- as well as GOP lobbyist Rodney Barreto and consultant Jose Cancela. Essentially, a bank controlled by supporters printed Rubio $135K out of thin air.
"It's very unusual to get a new equity line so quickly," says Michael Cannon, managing director of Integra Realty Resources in Miami. "The average person would never get a deal like that. He got it, clearly, because of his connections."
Even worse, Rubio never disclosed the line of credit. Confronted about the error, he laughed and told a Herald reporter he couldn't understand why it was a story."
There's more at the link.
n2doc
(47,953 posts)aaaaaa5a
(4,667 posts)Thanks for the help.
http://blogs.miaminewtimes.com/riptide/2013/02/marco_rubio_who_bragged_about.php
n2doc
(47,953 posts)n2doc
(47,953 posts)more at link. Just an average working class house
Raine1967
(11,589 posts)Is this the title of the article?
aaaaaa5a
(4,667 posts)The link in the middle of the post is working. I don't know whats going on with the link at the top of the page but I am working on it.
Here is the link again here.
http://blogs.miaminewtimes.com/riptide/2013/02/marco_rubio_who_bragged_about.php
another_liberal
(8,821 posts)Talk about an "Empty Suit." Am I wrong or is this guy is turning out to be a Cuban-American Dan Quail!
Seriously, if he gives a big speech once a month for the next six months, he should be about ready to kiss the Republican nomination for President in 2016 goodby.
aaaaaa5a
(4,667 posts)I don't think he'll budge the hispanic vote all that much.
Think about it? Would Clarence Thomas move the black vote? Did Sara Palin move the women's vote?
I will enjoy watching Hillary or Joe Biden mop the floor with him in 2016, should he be the nominee.
another_liberal
(8,821 posts)Biden/Clinton would be great!
On the other hand, if Hillary doesn't choose to run, perhaps Elizabeth Warren would be almost as excellent?
hughee99
(16,113 posts)Hillary Clinton will not be running for VICE president in 4 years. She may or may not run for president (I don't believe she will) but I'm 100% sure she won't be at the bottom of the ticket in 2016.
RainDog
(28,784 posts)Cha
(295,512 posts)Nerdy Wonka @NerdyWonka
Thanks aaaaaa5a
Blanks
(4,835 posts)He came across as clueless on 'The Daily Show'.
His sole issue is immigration. When John Stewart pointed it out (that it was the only issue that he knew anything about) he couldn't even follow the conversation.
He's a handsome young man. I expect he will perform about as well as Governor Perry on the campaign trail and in the debates.
chuckstevens
(1,201 posts)What is it about these elitist jerks that, even when they try to seem like "average Middle Class folks", they laughably fall on their faces? A $600,000 home is Middle Class? He actually used the term "working class neighborhood." I guess must be poorer than I thought.
If I were a Democratic Strategist, I would already be putting the commercial together on Rubio's Bull Shit.
TxVietVet
(1,905 posts)taught_me_patience
(5,477 posts)$675k home is well within middle class range. Many two income households could easily afford this.
onehandle
(51,122 posts)HughBeaumont
(24,461 posts)onehandle
(51,122 posts)Marrah_G
(28,581 posts)Hassin Bin Sober
(26,243 posts)aaaaaa5a
(4,667 posts)And I want to stress, that's "household income" is AKA dual family incomes". Defining middle class is subjective. But if we take the word "middle" and combine it with the word "median" I think that gives us a start.
Therefore the median or middle class household income (2012 numbers) is a little over 44,000 dollars per year. Any discussion talking about the middle class should be using this number number. 44,000 dollars per year is what the American family lives off of each year.
On 44,000 dollars per year in household income, there is no way a family can afford a $675,000 dollar home. Rubio's comments were wrong and not supported by simply math or the country's demographics.
BTW... the median income in Florida (based on 2009 numbers) was 45,468.
alcibiades_mystery
(36,437 posts)Supposing the home is valued at $675,000.
Suppose the buyer can put down an actual 20% down payment ($135,000), reducing the mortgage to $540,000.
If the buyer received a rate of 3.8% on a 30 year fixed mortgage, the mortgage alone would be $2516 per year.
Last year Rubio paid $7738 (roughly) tax on the home, breaking out into a monthly split of about $645. Let's throw in another modest $80 / month for the insurance one would need in Miami.
That's a monthly payment of $3241.
Not completely insane for two high earning, upper middle class people, but well out of reach for a household with a gross income under $100,000 - much less under $50,000. And that's only IF you can scratch together $135,000 to begin with, so you're not paying mortgage insurance and a higher rate and the like. For a 10% down payment (which still requires a fairly imposing $67,500 on hand), the monthly payment balloons to $3555, and that's without the mortgage insurance you'd likely need for the lower down payment.
onehandle
(51,122 posts)...could not buy if they were 'required' to put down 20%.
A $675,000 house is an absolute fantasy for the vast majority of Americans.
Chef
(460 posts)Using rough underwriting Standards, it would take an annual household income of approximately $129,640. to qualify for a loan on this abode. Well within his salary but, nearly three times the median family income. It is one thing to claim you are just like the rest of us when the facts speak otherwise.
alcibiades_mystery
(36,437 posts)I said "...but well out of reach for a household with a gross income under $100,000 - much less under $50,000...."
taught_me_patience
(5,477 posts)probably goes up to 250k in metro cities like Miami. The mortgage on a 675k home with 10% down is less than 3k/mo... easily affordable for a couple making 120k combined income.
Javaman
(62,394 posts)Raster
(20,996 posts)ellenfl
(8,660 posts)Raster
(20,996 posts)ellenfl
(8,660 posts)Raster
(20,996 posts)blkmusclmachine
(16,149 posts)Javaman
(62,394 posts)Sunlei
(22,651 posts)perhaps it was because Rubio quit trying to be a mormon.?
It's just the way republicans are they try to 'create a person for politics' and they always turn out to be, a liar king with no clothes.
marshall
(6,661 posts)House prices are sky rocketing.
elleng
(129,772 posts)Posted about it at DU yesterday.
http://sync.democraticunderground.com/10022371005
yellowcanine
(35,690 posts)tavernier
(12,299 posts)houses go for a lot more money there, as they do in other big cities. You could get that same home in a smaller town in BF Egypt for half the price. That's just the way it is with real estate. Also, I'm betting that the cost of his home is FAR below that of most congress critters, especially the ones who have been milking the system for decades.
My point is that Mr. Zephyr Hills has problems far greater than his house.
PasadenaTrudy
(3,998 posts)Can't buy much house for that much in my neck of the woods...