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Wed Feb 13, 2013, 07:22 PM

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, 5211 views

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Reply Marco Rubio, Who Bragged About Living In "Working Class" West Miami, Is Selling His $675,000 House (Original post)
aaaaaa5a Feb 2013 OP
n2doc Feb 2013 #1
aaaaaa5a Feb 2013 #4
n2doc Feb 2013 #6
n2doc Feb 2013 #11
Raine1967 Feb 2013 #2
aaaaaa5a Feb 2013 #3
another_liberal Feb 2013 #5
aaaaaa5a Feb 2013 #7
another_liberal Feb 2013 #8
hughee99 Feb 2013 #9
RainDog Feb 2013 #10
Cha Feb 2013 #12
Blanks Feb 2013 #13
chuckstevens Feb 2013 #14
TxVietVet Feb 2013 #21
taught_me_patience Feb 2013 #15
onehandle Feb 2013 #16
HughBeaumont Feb 2013 #22
onehandle Feb 2013 #26
Marrah_G Feb 2013 #17
Hassin Bin Sober Feb 2013 #18
aaaaaa5a Feb 2013 #20
alcibiades_mystery Feb 2013 #23
onehandle Feb 2013 #28
Chef Feb 2013 #30
alcibiades_mystery Feb 2013 #31
taught_me_patience Feb 2013 #34
Javaman Feb 2013 #25
Raster Feb 2013 #27
ellenfl Feb 2013 #33
Raster Feb 2013 #37
ellenfl Feb 2013 #38
Raster Feb 2013 #41
blkmusclmachine Feb 2013 #19
Javaman Feb 2013 #24
Sunlei Feb 2013 #29
marshall Feb 2013 #32
elleng Feb 2013 #35
yellowcanine Feb 2013 #36
tavernier Feb 2013 #39
PasadenaTrudy Feb 2013 #40

Response to aaaaaa5a (Original post)

Wed Feb 13, 2013, 07:26 PM

1. linky no worky n/t

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Response to n2doc (Reply #1)

Wed Feb 13, 2013, 07:34 PM

4. Everything should be okay now.

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Response to aaaaaa5a (Reply #4)

Wed Feb 13, 2013, 07:35 PM

6. Thanks for the link and post! n/t

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Response to n2doc (Reply #1)

Wed Feb 13, 2013, 08:11 PM

11. Here are pics of his pad

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Response to aaaaaa5a (Original post)

Wed Feb 13, 2013, 07:28 PM

2. LBN? Link does not work.

Is this the title of the article?

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Response to aaaaaa5a (Original post)

Wed Feb 13, 2013, 07:32 PM

3. Thanks guys for letting me know about the link.

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

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Response to aaaaaa5a (Original post)

Wed Feb 13, 2013, 07:34 PM

5. Talk about an "Empty Suit."

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.

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Response to another_liberal (Reply #5)

Wed Feb 13, 2013, 07:39 PM

7. He has appeared so weak thus far, I almost want him to win the nomination.



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.

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Response to aaaaaa5a (Reply #7)

Wed Feb 13, 2013, 07:45 PM

8. Biden/Clinton would be great!

Biden/Clinton would be great!

On the other hand, if Hillary doesn't choose to run, perhaps Elizabeth Warren would be almost as excellent?

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Response to another_liberal (Reply #8)

Wed Feb 13, 2013, 08:00 PM

9. Here's one thing I can say with absolute certainty...

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.

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Response to aaaaaa5a (Original post)

Wed Feb 13, 2013, 08:01 PM

10. k&r n/t

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Response to aaaaaa5a (Original post)

Wed Feb 13, 2013, 08:13 PM

12. Hypocrite Rubio is ready for his next big moment..



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

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Response to aaaaaa5a (Original post)

Wed Feb 13, 2013, 08:47 PM

13. Rubio's a flash in the pan.

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.

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Response to aaaaaa5a (Original post)

Wed Feb 13, 2013, 09:22 PM

14. Did the GOP Learn Nothing from Romney?

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.

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Response to chuckstevens (Reply #14)

Thu Feb 14, 2013, 07:42 AM

21. Obviously not.

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Response to aaaaaa5a (Original post)

Wed Feb 13, 2013, 11:06 PM

15. Honestly not a big deal at all

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

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Response to taught_me_patience (Reply #15)

Wed Feb 13, 2013, 11:25 PM

16. You forgot the sarcasm tag. nt

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Response to onehandle (Reply #16)

Thu Feb 14, 2013, 08:15 AM

22. Trust me, he didn't.

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Response to HughBeaumont (Reply #22)

Thu Feb 14, 2013, 09:49 AM

26. Heh. I know. I 'forgot' my sarcasm tag.

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Response to taught_me_patience (Reply #15)

Thu Feb 14, 2013, 12:19 AM

17. I guess that depends on what you consider middle class.

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Response to taught_me_patience (Reply #15)

Thu Feb 14, 2013, 12:22 AM

18. "working class" not middle class

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Response to taught_me_patience (Reply #15)

Thu Feb 14, 2013, 06:44 AM

20. In 2012 the median household income in the USA was $44,389


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.

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Response to aaaaaa5a (Reply #20)

Thu Feb 14, 2013, 08:36 AM

23. $3240 per month

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.

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Response to alcibiades_mystery (Reply #23)

Thu Feb 14, 2013, 09:55 AM

28. Few home buyers put down 20%. I read a study that said that 75% of buyers...

...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.

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Response to alcibiades_mystery (Reply #23)

Thu Feb 14, 2013, 10:20 AM

30. Not Middle Class

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.

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Response to Chef (Reply #30)

Thu Feb 14, 2013, 10:46 AM

31. My point exactly

I said "...but well out of reach for a household with a gross income under $100,000 - much less under $50,000...."

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Response to aaaaaa5a (Reply #20)

Thu Feb 14, 2013, 02:28 PM

34. Middle class is a range

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.

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Response to taught_me_patience (Reply #15)

Thu Feb 14, 2013, 08:40 AM

25. On what planet? nt

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Response to taught_me_patience (Reply #15)

Thu Feb 14, 2013, 09:51 AM

27. Yes it is a big deal and NO, $675,000 is NOT "...well within middle class range"

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Response to taught_me_patience (Reply #15)

Thu Feb 14, 2013, 01:56 PM

33. what job/career did rubio hold before going into politics that he could afford that house? eom

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Response to ellenfl (Reply #33)

Thu Feb 14, 2013, 06:45 PM

37. same job he holds now: Brown Republiclan.

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Response to Raster (Reply #37)

Thu Feb 14, 2013, 07:44 PM

38. i ask because i don't think he spent much time in the private sector. eom

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Response to ellenfl (Reply #38)

Fri Feb 15, 2013, 01:21 PM

41. he hasn't to my knowledge. His job: Brown republiclan.

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Response to aaaaaa5a (Original post)

Thu Feb 14, 2013, 01:09 AM

19. Another Rubio McMansion.

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Response to aaaaaa5a (Original post)

Thu Feb 14, 2013, 08:39 AM

24. The price of his garage probably costs more than my own house. nt

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Response to aaaaaa5a (Original post)

Thu Feb 14, 2013, 10:04 AM

29. not middle class anymore when republicans pay him the big bucks. wonder why romney rejected him?

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.

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Response to aaaaaa5a (Original post)

Thu Feb 14, 2013, 11:57 AM

32. That shows how much house prices have inflated

House prices are sky rocketing.

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Response to aaaaaa5a (Original post)

Thu Feb 14, 2013, 02:30 PM

35. Glad this is in the local paper.

Posted about it at DU yesterday.
http://sync.democraticunderground.com/10022371005

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Response to aaaaaa5a (Original post)

Thu Feb 14, 2013, 03:43 PM

36. Just a humble little $675,000 cottage.....

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Response to aaaaaa5a (Original post)

Thu Feb 14, 2013, 08:05 PM

39. Well... living close to Miami I do know that

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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Response to aaaaaa5a (Original post)

Thu Feb 14, 2013, 08:35 PM

40. Ha!

Can't buy much house for that much in my neck of the woods...

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