it wasn't poor choices on the lenders , it's people who borrowed the money who need to be held accountable.

No body told them to buy that $5k plasma TV at 23% on citicards.

No body told them to buy that Navigator to drive 1 person to work 40miles one way.

No body told them to NOT read the fine print on their ADJUSTABLE rate mortgage.

and no body told them to buy a 2nd 500class Benz to go with the Navigator.

just because their house payment was $500 a month when they started , it clearly said ADJUSTABLE in the wording of the loan.

and if no one saw that coming , shame on them.

but that's what happens when you have millionaire dreams on a working mans salary.

the funny thing is , you don't see them selling the cars to help pay for the house , you see them driving the 300m and not paying their mortgage.

I understand how you feel, but complaining is not the solution. People have made mistakes, but what is the solution. I have seen the value of my house drop because of a foreclosure in the neighborhood and houses that are for sale aren't selling. The big stimulus check (I'm sure many enjoyed and didn't complain about getting them) was a joke. How do you fix an economy with a solution that didn't impact the problem. The problem is real estate. The problem needs to be fixed and then a solution so this doesn't happen again. It does no good to anyone involved when a foreclosure happens. The people lose their homes, the finance company lose their money, the county or city lose their tax base, and those left in neighborhoods lose value in their own properties. So who wins?

I don't purpose that we simply erase people's mistakes, no people need to learn from them. I simply say people who face forclosure should be allowed to refinance their homes to an interest only loan for a period of seven to ten years (something comparable to bankruptcy). Give those home owners the opportunity to clean up their mess, in the mean time their credit reports are flagged in some way, so if they attempt to get additional credit, creditors are aware they are in this "housing program". The idea is once they are able to clean up their mess they should refi to a 30 - 40 year loan.

We need to stop standing around and watching this happen to our neighborhoods and something needs to be done.

We are in a very large downward vacuum cycle right now. You can't pin-point one particular group for responsibility. Face it, lots of folks have contributed to the market's decline. It started with the lenders--getting on phone with their appraisers to boost values--resulting in inflated home prices--homeowners taking all the NEW-FOUND equity out of their property via HELOC's, maxing them out--OR--they got an balloon note that jumps $1000 per month--then they have a crisis and have to sell, but they can't sell for what they owe--they call a Realtor to list it, if they have a hardship, a short sale, if not, just a pre-foreclosure--lots of folks in the same position--1st house sells at $20K less, now market value goes from $150K to $130K. Next one does it, gets a bid for $120K and sells out and so-on--market value keeps dropping. This is how we are now in such as mess.

A big amen to that - I work as a Housing Counselor and see people in this situation often. The word of caution is to put each person in the same box - I've met so many that were in a comfortable situation, affording the home wasn't the issue. Then a job loss or illness hit a family hard and the job market is difficult in this area. I don't believe it is the governments responsibility to bail people out at the expense of the other tax payers. But as previously stated by another commentor - these predetory loan companies have preyed on those who have little and have stripped them of not only their pride of home ownership but of their dignity. Those should be prosecuted to the fullest.

Thank you lady in red-not everyone in foreclosure spent beyond their means-we just lost our home of 13 years to foreclosure do to our mortgage company not paying my homeowners insurance policy which caused a huge issue that cost us $8000 and they took no responsibility and when we tried to refinance with a new company to get away from the poor lender we had -they refused to issue a payoff to the new lender in time-this occurred 4 times-so people get your facts straight before you write in and place everyone in a stereo typed category. We did everything to stop this we have been fighting the lender in court for 2 years-but now the cost to buy back our home is not worth it-we walked away and bought a brand new home-our credit has suffered horribly because our lender isn't trying to help people- that is who the government should target.

trickle up economics, it is like a funnel for money take from the middle class give to the poor have the poor feed the funnel and this will circulation of money limited to the markets, industry, and, investors.
I say poor but now a days, poor is relative to where you live. EKA federal guideline family of 4 is 37000.00. In an area like Los Angeles or NYC this might just cover rent on a studio apartment, while in an area like pikeville NC or Rural Maine it will easily pay a mortgage and living expenses

I disagree with you James - perhaps every decision made wasn't the right one - but to accuse the Chuck's of the world of the foreclosure crisis is pure ignorance on your part

Your cherry picking at scenarios,not everyone did what you say, some people might have lost work do to the slowdown,the housing boom put many people to work in all industries,so when the bottom falls out and people lose their jobs,foreclosures might happen.

Also, what happened to credit card company's checking someones credit,and how much they made,if you only make 50,000 a yr, you should not be able to get 10 credit cards with 5000 dollar limits,and same goes for the house lenders,if they gave you a loan that was well above your means,its everybody fault.

Their are plenty of guilty people for this mess, but if you give a heroin addict more heroin, do you think he/she wont use it, the enablers are just as guilty...

You don't get it do you? I'm not sure of your education level but I can guess. I know you probably won't understand but I will try to explain this to you. The banks wanted to sell houses as many homes as they could. So they came up with an adjustable rate because people don't make enough money to afford a $200,000 house and since the statistics show that most people only live in their house for 5 years, it seemed like the way to go. Also the banks told people they can always refinance. Well guess what, now people can't sell their homes. The banks won't refinance because their houses are worth less then what they paid for. The banks are refusing to work with people and keep the rate low. So what are their options?

Also there are people losing their jobs left and right so some people can't afford a home period. Furthermore it's not the people who have a $750,000 home, it's the middle class Americans that are suffering. The million dollar homes are still selling and the rich are getting richer as studies show. Once again you are someone who doesn't really understand the issue so you put the blame on people who are only trying to survive.

PJW, was that reply for joe joe?

Yes it was

Liberals seem to think that the ability to reason has to be connected with education. It would seem as thought the liberal might require us to obtain a license to think. Hmmmmmmmm

Joe-Joe, You hit it dead-on in Cali. I moved there from Wi 3 yrs ago..THAT is exactly what I saw. Hope they like the Benz--they may have to live it. Self-absorbed jerks. I couldn't take it and moved to Houston, Tx. Now this is living..nice people and the average home is about 180K, with good jobs. Easy come, easy go.

Where is the humor in your statement? I think we can spread the blame around to many people including the flippers, the brokers, the people who knew they couldn't afford the homes, Wall Street... What is NOT funny is how this affects us all. Have you taken a look at your 401K lately (if you have one). Have you driven through a neighborhood with many vacant homes? I'm more mad at the people who took the profits and ran back to their nice multi-million dollar homes.

You haven't seen the worst of it yet. These sub-prime loans were packaged as Bonds and sold to investors (ie. retirement funds, long term notes etc.) when these Bonds (which were traditionally stable) start to fail, we wil see the next Domino fall in this chain of events.

This is to Joe-Joe 305925 where do you get this from? you seem like an angry person making up garbage to give you something to complain about with out real facts-to just say people in foreclosure bought a 750,000 home and drive around in outrageous cars is ridiculous. I know several people including myself that have found ourselves in foreclosure-i didn't buy a 750,000 home -it was only 145,000 I drive a used car that is 5 years old now-I do not own a credit card-I pay cash-if I don't have it I don't buy it-so get it straight, there is no stereo type that caused this-there are many factors most people don't consider-they just want to point fingers and complain about something

What are you implying?? Sounds like you are catering your remarks to a specific race. The housing market has impacted everyone, not just minorities. You sound very ignorant.

First of all not all people spent beyond their means, some did not even have adjustable

mortgages.

Things around us like gas caused

food, utilities and transportation to skyrocket.

And a more efficient car is not going to help your utility bill, food or make up for a lost job.

In my town they cut back public transport, trash pickup and other services because of fuel.

And remember a lot of companies

had layoffs and cut hours to make up for energy costs.

What about these people? And there are a lot, the media only mentions one group.

Also how does taking a $400,000 house in forclosure and selling it at an auction

for $100,000 make any sense?

The bank should just convert or freeze the rate work with the owner.

I know of an instance where a $100,000 house sold for $18,000 at an auction.

So the bank loaned $100,000 an got $18,000 makes a lot of sense to me.

The situation where people have lost jobs and are now in a tight squeeze is different than that of those who over bought. Though here in Texas we see a LOT of 'stay at home Mom's' who have the ability to get a danged job and help the family - and they refuse because 'I need to take care of my children'. Well, though I understand that sentiment, my answer to that is "Sweetie, how much better off are your kids going to be living in a refrigerator box?" We have had layoff issues and because the other spouse was making a good salary, we were able to adjust, tighten the belts and survive (while paying bills on time) on one salary. It wasn't fun or the easiest, but we did it. In fact, we are doing it right now as my husband worked for a company that just folded. If need be, I will get a second job. Do whatever it takes. Even if he ends up working construction for a short time, we will pay our bills and not look for handouts.

who is accountable ?

the person who didn't pay their bills ?

put the blame where the blame belongs.

if you don't get ADJUSTABLE , you shouldn't get a loan.

take a lesson from the great depression. where do you think the 30 year fixed mortgage came from and why ?

$500 a month on a $750,000 home , didn't look fishy to you ?

let me guess , your new home you built for you and your wife , was 10,000 sq feet with 4 levels and a 5 car garage , in-ground pool and 1acre of land., hoping to make $500,000 profit on it as the prices went skyrocketing out of control.

no body saw the bubble ?

Where are you getting 500 dollars for a 750,000 home,was that a interest only loan..

You act like everyone in foreclosure is suffering from the 500 dollar loan scam, why do you keep referring to that ?

When someone has paid 250,000 for a nice 3/2/2 in Florida where I live and now houses are selling for 150,000, should that person who is locked into a 30 year note stay?

Maybe people are dumping them, they don't want to pay on a home that just lost 100,000 dollars in 1 year, so think about all the different possibility's of why someone might do what they do...

jack-300382 said:
"Where are you getting 500 dollars for a 750,000 home,was that a interest only loan..

You act like everyone in foreclosure is suffering from the 500 dollar loan scam, why do you keep referring to that ?

When someone has paid 250,000 for a nice 3/2/2 in Florida where I live and now houses are selling for 150,000, should that person who is locked into a 30 year note stay?

Maybe people are dumping them, they don't want to pay on a home that just lost 100,000 dollars in 1 year, so think about all the different possibility's of why someone might do what they do..."

Jack, if someone owns a home they bought for 250,000 and can afford the payments, why should they dump it? Even if all the other homes in the neighborhood dropped in price, causing the home they paid 250,000 to be worth only 150,000, the purpose of a home is for a roof over their head.

What Joe joe and others are griping about was the mentality of a lot of people during the bubble. No matter if we're talking $250,000 in SW Florida or $750,000 in Sacramento, the mentality was the same and the impact is multi-dimensional:

1. There were the people who bought homes they could not afford
2. There were the flippers who bought with the intention of taking advantage of skyrocketing home prices. Some of whom could afford payments, but many others who could not
3. There were the expanded, well-paying industries that served the bubble: construction, remodeling, pools, spas, landscaping, etc., which suddently earned a lot more money than is typical for their work
4. There were the lenders who saw the increased potential for profit, which is a % of the sale price of the home
5. The realtors, who just like the lenders, also gained increased profit due to their commission also being a % of sale price.
6. The local municipalities who saw a jump in tax revenue due to increase property valuations

There are even more points than this, but just from these points:

1. These people had to foreclose because their payments jumped too high when their ARM, NegAM, and other sub-prime loan types readjusted.
2. Flippers got burnt one of two ways: The ones who could afford the home ended up with a property that they now have negative equity on. The ones who could not afford the home lost them in foreclosure for much the same reasons as those in point 1. Then there was also a third group that were the professional flippers who bought multiple properties with the intention of a quick resell. When the market adjusted, they lost any potential for profit on every home they bought during the bubble, which could and did lead to foreclosure
3. All of the industries that suddendly boomed because of the housing bubble readjusted to pre-2001 levels of work and income. This cut the paycheck from many well-meaning but ultimately unfortunate people who also assumed in one way or another that the market was in a natural upswing. Those who knew it was a bubble had planned for the inevitable downswing and are still doing very well because of that planning.
4. The lenders are now stuck with properties they aren't willing to dump, because of a combination of shock, greed, and an unwillingness to admit that the market bubble and it's associated equity was a fabrication meant to line the pocketbooks of the three parties who could benefit the most from it: Lenders, Realtors, and Local Government.
5. The realtors who were experienced and had years under their belt made a fortune from the upswing of the bubble. However, many, many more inexperienced people entered real-estate during the latter half of the bubble and either lost their jobs, will lose their jobs, or made out like bandits in the small time they could.
6. Local municipalities who saw the huge increase in tax revenue are now having to cut back as the homes go into forclosure and that extra revenue dries up. This does not mean that revenue will be less than what it was pre-bubble, but it could be. Regardless, either a lack of sound understanding of economics, ignorance or pure greed prevented local governments from stepping in and stopping the bubble before it started.

Overall, there are many who are at fault for all of this and many more who temporarily benefitted from it. All of the parties involved directly or indirectly are paying or will pay for it due to natural market forces. Even the "ultra-rich" that some one here have babbled on about with such contention will have to deal with a stock and bond market crash over the next year or five.

So, Jack, to directly answer your question: "When someone has paid 250,000 for a nice 3/2/2 in Florida where I live and now houses are selling for 150,000, should that person who is locked into a 30 year note stay? "

Yes, Jack, those people should stay in their homes. They do no one any good, least of all themselves if they dump it, and the act of dumping it makes them worse than the sharks who sold them the home during the bubble in the first place. It means that instead of taking responsibility for their mistake they're going to dump it onto someone else. Keep the home, live in it and take care of it. Someday they will have equity on that home, but not if they maintain a habit of shurking responsibility.

Of course, blame the media. Never accept responsibility for your own actions.

You are very wise. I'm glad you didn't sell out. Stay put until this housing crisis is over.

I hear you, the south Florida market and Florida market as a whole is terrible,but when the housing boom was going builders were throwing up houses without buyers everywhere,and to think some people I know thought it was going to continue.....

If your business did a 360, then you should be right back where you started...

"Real Estate and Mortgage Lending are no longer "easy" professions." Who said they ever were? Or are supposed to be?

I feel your pain. I deal with this everyday. I'm a Realtor and I have clients in the same position as you. These conditions make it very hard emotionally and financially to stay in my profession. I do have a solution for your credit problems, you can go to my site and read about it at www.icareaboutresults.com and hopefully we can get your credit rating restored in a few months.

That's exactly the problem with the industry right now. I live in Fredericksburg, VA and was recently looking to buy a home. 95% of what was in my price range (under 200,000) was foreclosure/short sale/bank owned. Despite my realtor advising very strongly to avoid those properties altogether, I found a townhouse that was just perfect. Needed some cleaning, but fit everything I wanted. Submitted a contract and the bank countered. We accepted all the financial terms, but refused to allow them to push the closing date to 60 days. Nor would we have accepted the "bank addendum" which would have stripped all of our rights and allowed the bank to continue to push the closing date back as far as they wanted. All so the bank could continue to solicit offers from anyone at any time. That was early May, and the property is still on the market today. I was lucky enough to find an actual home that I am closing on Monday.

Banks need to be held more accountable for the state of affairs right now. I visited another foreclosed property early in my search, only to find that the bank allowed a "group" of mexicans to live there. Not only was the property in disrepair, but the numerous mexicans who were living there made viewing the home impossible.

Homeowners and lenders got into this mess together. But the lenders are the ones right now who are keeping the industry in a stranglehold.

Ditto. Read some of my comments to the same effect.

A country motivated by greed, many have contributed to the decline.

Yes, Yes, everything that ever went wrong is George Bush's fault!

Yes most of the problems are due to him and his brother Jebby who prior to being Governor of Florida was a developer/contractor...oh, how do you explain the price of gas, lol Georgie's best friend Cheney and his secret meeting with energy people. Grow up and see the corruption ok.

How will we get change? Do you think Obama will provide change? I am sure he will. He is hell bent to get into office and finish turning this into European style socialist society!

Hell he threw away his minister of 20 years, and he threw away his church of 20 years and disavowed them as though he didn't know what they stood for.

He says we blue collar worker cling to our guns and religion because we are angry. We actually enjoy shooting sports and teach not to handle a gun when you are angry. And we are true to our faith. We don't abandon it because it is not politically expedient!

It always amazes me that the fingers always point to the president. It is a fact that the only way government money can be spent is if CONGRESS approves it. I am not a Bush fan but put the blame where it belongs- on the homeowners, the banks, and yes --Congress for their always speedy reaction instead of prevention of these kinds of problems...

It might make them look bad,god forbid the truth ever came out of a politicians mouth...

I see, but its okay for the government to swoop in and bail out large company's, company's that are part of the greedy problem....

examples please?

Airlines, saving and loans of the 80s-90s, cost the taxpayer 125billion,chrysler in the 80s,there is many, look them up..

My point is- it's not just the Bush Adm. You just gave me examples from the 80-90's!! Thats all I'm saying! Spread the blame!!!

80's? 90's? I did not realize George Bush was the President then.

Oh well lets blame him anyway. WTF

Yeah, the blame goes far and wide for sure, not sure if people consider bear/stearns a bail out as well, but we have been living in a society of credit to long.

Bush adm. has added a few dollars to the national debt ...

I was not blaming bush, my point was simply government bailing out corporations..

Wow!!! we sure know who you voted for and still are unable to cope with his failure and corruption.

Yes I voted for "W" both times and yes I can deal with his "F" and "C", but unlike you, I have and always will pay my own way, not wait on the Government to bail me out of my credit problems!! Oh sorry, I have no credit issues!!!!!! Just keep standing there with your hand out Spiderman, waitng on that free check!!! I'm sure OBAMA will give you one,after he takes it from my hard earned check!

Again the only way government money can be spent is if the Congress approves the spending.....

You're onto something here.

Your right, that is so true, I wish more people would wake up to the fact this so called democracy we live in is being destroyed on purpose.....

Are you referring to "The New World Order?" I heard about that when George Bush senior was in office, then I heard Willy Clinton mention it several times. I guess that is the UN taking over. I heard Bernese Johnson (Ms. Johnson is a member of the Congressional Black Caucus) speak about allowing the UN to over see our elections. She was one of the members of congress that recommended that. I guess that is preparation of making the U.S. a third world country.

Yes, I know it seems crazy, but bush sr. has said it many times among others, and when you do a little digging into the past of bush/clinton, it is quite amazing what these people are tied to.

Matt, aweome post and right on the money!

To further what you said... If the cost of utilities / basic needs (food, fuel, etc) continues to go up, but the income base to pay for these inflations never increases, how is middle America suppose to continue to support this? Are we going back to "community" living out of basic necessity to survive?

Since 2000, I have seen huge changes. In '00, a younger, single, middle class worker could afford to live independently. Maybe not extravigantly, but at least independently. Now, 8 years later, that same worker is still making the same wage with only $.20 or less annual wage increases, but cost of living has ballooned 300%. The option to live independently is not longer there. Younger, single middle class Americans now either have to move back in with mom and dad, have roommates, or live with their significant other. And this is all assuming this worker did not lose their job, get laid off, or basically have the rug swept out from underneth them.

My husband I and made the mistake of purchasing vacant property in MI late 2005. We got a heck of a deal on it - $15K below appraisal. In 6 months time, we saw the GM town we were now invested into go from a booming community to literally every other house up for sale. The workers were laid off as GM discontinued production lines, cut back on work force, and the trickle down affect hit the whole area. A year later, at least 80% of those for sale homes were foreclosed upon. My property value dropped at least $20K lower than what I owe on the note, and the market is at a dead halt.

Its not just the banks, its not just the fine print on the mortgage papers, its not just the lavish spending done on credit, its not just the irresponsible spender. It is every aspect - the banks trying to make a buck, the American household with the "keeping up with the Jones" mentality, the credit card companies giving out more than what is realistically possible to payback, the spike in energy expenses vs. lack of wage increases, and overall poor, POOR job situation with layoffs left and right.

Kudo's Matt! Right on! Sad to think that when one looks at the totality of all that is dragging this once great country down to the depths that it will sink,(and make no mistake........it will sink further and further), that our once great country will no longer be what it was. Economics will dictate the world order according to some. The middle class is disappearing and I just don't know how the lower classes can even survive anymore. While at a party recently, those "boomers" that were in attendance all agreed that we haven't seen the worst. Most agreed that we will never be the same. And, at least half said that they believed that there will be a "revolution". Wow! I haven't heard that said since the mid and late sixties! Is everyone wrong? Most think that we have all seen our best days and it will only get worse. These were very middle class people all with good jobs. Gosh........we are really getting from all side now aren't we? It is the housing problems, the medical insurance issues, the natural disasters driving prices up, the gas companies and investors making record profits. Wow, wow, wow...........*sigh*

Greenspan was the one that helped Billy Clinton out of financial difficulties. I believe we have another chairman now. And for most of GW Bush's administration.

I can't say I disagree with most of your assessment but need to review a couple of things.

"During the great depression we had similar problems where people couldn't afford to pay their mortgage and banks couldn't sell the properties. The government stepped in to provide assistance and keep people in their homes." The government did not help people stay in their homes. The homes and land got auctioned off to big corps - thus the midwest became the corporate agro farms of today. The people who lost their homes and could not find work got housing subsidies for their families and the men went to work for the CCC staying in dorms or tents while they completed the work requirements.

As for holding the government responsible or CEO or other high ranking executives - for what? This country is not a democracy - it is a capitalist republic. The reason this country works is due to capitalism - and to make capitalism work you need to show profit. The government officials and CEO are doing what they are getting paid for - showing profit. The term that no one is saying is BUYER BEWARE. I have been saying for years that the rich can only get richer if the poor get poorer. So in order to do that the public as a whole has been convinced that you must have the most up to date of everything. Clothes, music, cars, shoes and hair styles come and go in less time then it takes to pay off the bill. This is the REAL PROBLEM! Children need to be taught in school and at home that money is math. Maybe before the algebra, calc, and other advanced classes needed to pass the federal no school left behind testing our children should be taught to balance a checkbook and budget.

As for who is caught up in this mess - I have a older brother who makes 5X what I do - single - children all grown and out - is trying to live in a 5 bed, 3 bath, 3000ft house that he affords by maxing out one credit card after another and playing the refinance game every chance he gets. He sees appearances as the make or break of his life. I live in a modest home (been criticized for being cheap) and have no credit debt. Income and education have little to do with this whole mess.

I do believe that this mess will not end until the public stops letting others them what they should want, think, need, do, etc.

Of course under new school regs - children are drugged (get more money if you have a lot of ADHD students), told to follow rules blindly, receive class instruction based on test content, and are definitely not allowed independent thought - that would cause disruption in the class rooms. Thus we are now into the second or third generation that believes that other people will think for me! Good luck America.

Matt, I disagree. I recently sold my home, then purchased a home and the buyer of my home was fully aware of his A.R.M. He was explained when it would go up and everything. When I bought my second home, the bank offered me all different types of loans and I CHOSE a fixed loan. People, come on, self control and responsibility for financial decisions belong to each of us. Step up and take responsibility, citizens. The federal government didn't sign on the line, each homeowner did. BEFORE we invest, we investigate!

It's my understanding that some foreign vehicles are at least to some degree assembled in America. Why stop at the vehicles? What about your TV? What about your cell phone? What about your computer? What about your clothing? What about your furniture and carpeting?

My foreign-name vehicle gets 30MPG, thank you very much.

This is supposed to be about housing cost and its looming economic disaster. We can all smell it. There are eight or ten well-priced houses for sale in my neighborhood, just sitting there not getting sold. I would love to move into one as I bought a small two bedroom home, one I knew would be affordable, before I knew my third child would enter my life. I need more room! But more than that I need to be able to keep my house, pay my bills, feed my family. My husband works in the construction industry, so with the reality of the future of the building industry darkening the horizon, we are staying put. The kids can share a small room. I can feed them. We drive our affordable, energy-conserving vehicle only where we need to go.

Still, with all the choices we've made, we may still fall to the mercy of the economy - no matter how willing we are to work. We sit back, play it safe, do the best we can with what we have, help out our family and neighbors when we can, and most importantly, teach our children to make wise choices. Those choices aren't always the ones with the loudest commercial on the TV made in China.

Check your facts..

More AMERICAN auto producers are producing OUTSIDE OF AMERICA! Cheaper labor, lack of tax to import back to the US, etc.

Doesn't matter if we "foreign" buyers were to purchase from the big 3.... the cars aren't being made in the US anymore; people would still be laid off, people would still be hurting. At least, as a Toyota (and former Honda) owner, my fuel expense is lower, resale value stays higher, and I get 200-300K miles to each vehicle before retiring it. Without having to basically replace every major component, anyway. The overall "value" is much better, more economincal. AND... my auto brand EMPLOYS AMERICANS!

MAKE/MODEL ASSEMBLY PARTS STATUS Jeep Liberty USA 74% IMPORT Dodge Ram USA 74% IMPORT Jeep Grand Cherokee USA 73% IMPORT Lincoln Navigator USA 70% IMPORT Dodge Caliber USA 70% IMPORT Toyota Tacoma USA 70% IMPORT Honda Accord USA 70% IMPORT Honda Civic USA 70% IMPORT Honda Odyssey USA 70% IMPORT Chevy Impala CANADA 92% IMPORT

Check your facts..

More AMERICAN auto producers are producing OUTSIDE OF AMERICA! Cheaper labor, lack of tax to import back to the US, etc.

Doesn't matter if we "foreign" buyers were to purchase from the big 3.... the cars aren't being made in the US anymore; people would still be laid off, people would still be hurting. At least, as a Toyota (and former Honda) owner, my fuel expense is lower, resale value stays higher, and I get 200-300K miles to each vehicle before retiring it. Without having to basically replace every major component, anyway. The overall "value" is much better, more economincal. AND... my auto brand EMPLOYS AMERICANS!

MAKE/MODEL ASSEMBLY PARTS STATUS Jeep Liberty USA 74% IMPORT Dodge Ram USA 74% IMPORT Jeep Grand Cherokee USA 73% IMPORT Lincoln Navigator USA 70% IMPORT Dodge Caliber USA 70% IMPORT Toyota Tacoma USA 70% IMPORT Honda Accord USA 70% IMPORT Honda Civic USA 70% IMPORT Honda Odyssey USA 70% IMPORT Chevy Impala CANADA 92% IMPORT

Check your facts.. More AMERICAN auto producers are producing OUTSIDE OF AMERICA! Cheaper labor, lack of tax to import back to the US, etc. Doesn't matter if we "foreign" buyers were to purchase from the big 3.... the cars aren't being made in the US anymore; people would still be laid off, people would still be hurting. At least, as a Toyota (and former Honda) owner, my fuel expense is lower, resale value stays higher, and I get 200-300K miles to each vehicle before retiring it. Without having to basically replace every major component, anyway. However, my US made pickups have been nothing but money pits the minute it reads 100K. Go figure. The overall "value" is much better, more economincal. AND... they still EMPLOY AMERICANS!

MAKE/MODEL ASSEMBLY PARTS STATUS Jeep Liberty USA 74% IMPORT Dodge Ram USA 74% IMPORT Jeep Grand Cherokee USA 73% IMPORT Lincoln Navigator USA 70% IMPORT Dodge Caliber USA 70% IMPORT Toyota Tacoma USA 70% IMPORT Honda Accord USA 70% IMPORT Honda Civic USA 70% IMPORT Honda Odyssey USA 70% IMPORT Chevy Impala CANADA 92% IMPORT