Angry Renters

[Cronus Protagonist]

http://www.angryrenter.com/

Finally someone is paying attention to those of us who DID NOT sign sub-prime loans, those of us who are NOT greedy capitalists, those of us who made the smart choice in this hyperinflated housing market.

Enjoy :P

All we hear these days is whining from reckless home borrowers and their banks.

But did you know that renters are 32 percent of American households? And that homes in foreclosure are less than 2 percent?

So why is Congress rushing to bailout high-flying borrowers and their lenders with our tax dollars?

Unfortunately, renters aren't as good at politics as the small minority of homeowners (and their bankers) who are in trouble. We don't have lobbyists in Washington, DC. We don't get a tax deduction for our rent and we don't get sweetheart government loans.

Quite simply, we are just Angry Renters. And now it is our time to be heard: no government bailouts!

[Lars39]

1. Shortsighted...I rent and live in fear that my landlord

did some very creative financing. Just because you rent does not mean that you are immune from this mess.

[Cronus Protagonist]

5. True, and that will mean higher and higher rents for you and I

Bu the big question is, will our government bail YOU and I out, or your landlord? I think we all know the answer.

[varkam]

2. Except that it's backed by financial interests who oppose bailouts of homeowners...

More info here: http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=389&topic_id=3268696

[Fresh_Start]

3. renters are also losing homes from the subprime failures

because lots of the subprime failures are investment properties (i.e., rental properties)

[HiFructosePronSyrup]

4. That's true.

I know a couple who's had to move twice in the last 5 months because their landlords sold their homes out from under them.

[LSparkle]

6. AMEN! I was ridiculed by some of my peers for NOT buying

when I knew in my heart I couldn't afford it, despite all the
tempting offers of "no money down" and "low interest rates."
My friends reminded me of all the tax write-offs I could take.
At every turn, I was taunted by government stats showing how,
as a renter, I was in the *minority* of the country, not to
mention RatBastard's speeches about the "ownership society" ...

Now I feel vindicated but also, I must admit, angry. Where
are the tax breaks for RENTERS like me who played by the rules
and did the right thing?

:shrug:

[Cronus Protagonist]

7. I've said much the same thing before on here and got attacked for not being compassionate

As if I should be compassionate over someone who tried to make thousands in a volatile market, signed some sub-prime notes in order to feed their greed, and now complains about not being able to make the payments!

The sheer audacity is stunning.

Meanwhile, we renters are getting our asses kicked with higher rents to fund these financial megadisasters and ain't no one in congress caring one iota about us folks. Honestly, if you don't "own" a house in this country, you might as well not exist.

[LSparkle]

9. EXACTLY -- if you don't own a home, you don't exist to them ...

My sister bought a place (she makes scads more money than I do and could
realistically afford it) and she confessed that once you're a homeowner
EVERYTHING gets easier ... Credit is easy to come by, you have the write-
offs so you can bring home more money every paycheck (and she STILL got
a return at the end of the year, whereas I had to PAY ... ). It's just
amazing to me the extent to which our government subsidizes home ownership.
I'm not AGAINST that (please, don't flame me!) -- I just wish there were
more tax breaks for renters to enable us to reach the point of home
ownership LEGITIMATELY (not just through crazy teaser rates or no
down payments or having to wait until an inheritance or some gigantic
windfall in order to finally make it across that threshold).

[Fumesucker]

8. Unless your mortagage interest payment is high enough..

Owning a home does not automatically confer a tax advantage.

We own our quite modest home and it has been more advantageous to take the standard deduction for some years now.