Housing, Iraq Reconstruction Funds

To continue the journey following housing, mortgages, and foreclosures, an article came out today stating that home ownership fell to 1999 level of ~ 67%. This number will grow given the defaults, increased foreclosures, and underwater mortgages. Regardless of who says we are out of the woods, this is the yardstick to use to know we have reached bottom. Loose lending practices forced by congress since the 1990s created the housing bubble and housing will also show when this recession/depression ends.

A startling statistic is that 95%, $8.7B, of the money spent in Iraq for reconstruction is unaccounted for. I am amazed that this amount of money can be spent without any accountability. This clearly shows that our government has no idea how to manage in a businesslike fashion. I either assume this or outright fraud and deception in the use of the funds. I keep shaking my head thinking it is hopeless until I think of my children and grandchildren.

As I keep reiterating, vote out ALL incumbents in November. Lets get some practical business-minded influence into congress.