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aaaaaa5a

(4,667 posts)
Wed Feb 13, 2013, 08:22 PM Feb 2013

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.
41 replies = new reply since forum marked as read
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Marco Rubio, Who Bragged About Living In "Working Class" West Miami, Is Selling His $675,000 House (Original Post) aaaaaa5a Feb 2013 OP
linky no worky n/t n2doc Feb 2013 #1
Everything should be okay now. aaaaaa5a Feb 2013 #4
Thanks for the link and post! n/t n2doc Feb 2013 #6
Here are pics of his pad n2doc Feb 2013 #11
LBN? Link does not work. Raine1967 Feb 2013 #2
Thanks guys for letting me know about the link. aaaaaa5a Feb 2013 #3
Talk about an "Empty Suit." another_liberal Feb 2013 #5
He has appeared so weak thus far, I almost want him to win the nomination. aaaaaa5a Feb 2013 #7
Biden/Clinton would be great! another_liberal Feb 2013 #8
Here's one thing I can say with absolute certainty... hughee99 Feb 2013 #9
k&r n/t RainDog Feb 2013 #10
Hypocrite Rubio is ready for his next big moment.. Cha Feb 2013 #12
Rubio's a flash in the pan. Blanks Feb 2013 #13
Did the GOP Learn Nothing from Romney? chuckstevens Feb 2013 #14
Obviously not. TxVietVet Feb 2013 #21
Honestly not a big deal at all taught_me_patience Feb 2013 #15
You forgot the sarcasm tag. nt onehandle Feb 2013 #16
Trust me, he didn't. HughBeaumont Feb 2013 #22
Heh. I know. I 'forgot' my sarcasm tag. onehandle Feb 2013 #26
I guess that depends on what you consider middle class. Marrah_G Feb 2013 #17
"working class" not middle class Hassin Bin Sober Feb 2013 #18
In 2012 the median household income in the USA was $44,389 aaaaaa5a Feb 2013 #20
$3240 per month alcibiades_mystery Feb 2013 #23
Few home buyers put down 20%. I read a study that said that 75% of buyers... onehandle Feb 2013 #28
Not Middle Class Chef Feb 2013 #30
My point exactly alcibiades_mystery Feb 2013 #31
Middle class is a range taught_me_patience Feb 2013 #34
On what planet? nt Javaman Feb 2013 #25
Yes it is a big deal and NO, $675,000 is NOT "...well within middle class range" Raster Feb 2013 #27
what job/career did rubio hold before going into politics that he could afford that house? eom ellenfl Feb 2013 #33
same job he holds now: Brown Republiclan. Raster Feb 2013 #37
i ask because i don't think he spent much time in the private sector. eom ellenfl Feb 2013 #38
he hasn't to my knowledge. His job: Brown republiclan. Raster Feb 2013 #41
Another Rubio McMansion. blkmusclmachine Feb 2013 #19
The price of his garage probably costs more than my own house. nt Javaman Feb 2013 #24
not middle class anymore when republicans pay him the big bucks. wonder why romney rejected him? Sunlei Feb 2013 #29
That shows how much house prices have inflated marshall Feb 2013 #32
Glad this is in the local paper. elleng Feb 2013 #35
Just a humble little $675,000 cottage..... yellowcanine Feb 2013 #36
Well... living close to Miami I do know that tavernier Feb 2013 #39
Ha! PasadenaTrudy Feb 2013 #40

aaaaaa5a

(4,667 posts)
3. Thanks guys for letting me know about the link.
Wed Feb 13, 2013, 08:32 PM
Feb 2013

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)
5. Talk about an "Empty Suit."
Wed Feb 13, 2013, 08:34 PM
Feb 2013

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)
7. He has appeared so weak thus far, I almost want him to win the nomination.
Wed Feb 13, 2013, 08:39 PM
Feb 2013


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)
8. Biden/Clinton would be great!
Wed Feb 13, 2013, 08:45 PM
Feb 2013

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)
9. Here's one thing I can say with absolute certainty...
Wed Feb 13, 2013, 09:00 PM
Feb 2013

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.

Cha

(295,512 posts)
12. Hypocrite Rubio is ready for his next big moment..
Wed Feb 13, 2013, 09:13 PM
Feb 2013


Nerdy Wonka @NerdyWonka

@MarcoRubio claimed to be from a working class neighborhood. I guess $675K homes are "working class." #Hypocrite http://www.tampabay.com/blogs/the-buzz-florida-politics/content/tour-marco-rubio-675000-working-class-home


Thanks aaaaaa5a

Blanks

(4,835 posts)
13. Rubio's a flash in the pan.
Wed Feb 13, 2013, 09:47 PM
Feb 2013

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)
14. Did the GOP Learn Nothing from Romney?
Wed Feb 13, 2013, 10:22 PM
Feb 2013

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.

 

taught_me_patience

(5,477 posts)
15. Honestly not a big deal at all
Thu Feb 14, 2013, 12:06 AM
Feb 2013

$675k home is well within middle class range. Many two income households could easily afford this.

aaaaaa5a

(4,667 posts)
20. In 2012 the median household income in the USA was $44,389
Thu Feb 14, 2013, 07:44 AM
Feb 2013

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)
23. $3240 per month
Thu Feb 14, 2013, 09:36 AM
Feb 2013

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)
28. Few home buyers put down 20%. I read a study that said that 75% of buyers...
Thu Feb 14, 2013, 10:55 AM
Feb 2013

...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)
30. Not Middle Class
Thu Feb 14, 2013, 11:20 AM
Feb 2013

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)
31. My point exactly
Thu Feb 14, 2013, 11:46 AM
Feb 2013

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)
34. Middle class is a range
Thu Feb 14, 2013, 03:28 PM
Feb 2013

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.

Sunlei

(22,651 posts)
29. not middle class anymore when republicans pay him the big bucks. wonder why romney rejected him?
Thu Feb 14, 2013, 11:04 AM
Feb 2013

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.

tavernier

(12,299 posts)
39. Well... living close to Miami I do know that
Thu Feb 14, 2013, 09:05 PM
Feb 2013

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.

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