This looks like a lot of fun, especially for those who can’t afford a real Cessna or a private pilot’s license.
Video from Top Flite.
Looks like they retail for about $400.
When you’ve put taxpayers on the hook to back up all the bad debt in our country, there is no incentive to be responsible in mortgage lending.
In their latest effort to artificially inflate the price of housing the government has approved new regulations that allow borrowers who are refinancing their homes to borrow up to 125% of the value of the home.
Homeowners refinancing their mortgages through loans backed by government agencies will be able to borrow up to 125 percent of their homes’ value under new regulations enacted Wednesday.
The rule changes, part of the government’s attempts to restore housing affordability and stem the foreclosure crisis, apply to loans backed up by Fannie Mae and Freddie Mac.
Previously, homeowners could borrow up to 105 percent of their home’s value. The new loan-to-value ratio is set up at 125 percent in a further effort to address those mortgage holders who owe more than their homes are worth.
If housing prices continue to decline as expected, there will be a big incentive for the borrowers to walk away from the loans. Think about it: they are underwater on the day they sign the loan papers. Knowing that prices are being kept artificially high, there is little incentive for smart, responsible investors to buy.
I wonder when people are going to realize that you don’t fix a problem by doing the same things that created the problem in the first place. You don’t get over an addiction to heroin by taking more heroin. You don’t get a healthy housing market by continuing to perpetuate the same fraud that caused it to collapse in the first place just so that banks can make more money.
Have you heard that reality TV stars Jon and Kate Gosselin have filed for divorce? If this is news you might want to check your pulse to see if you’ve still got one.
The announcement was hardly a surprise. Viewers of the 2-year-old series had seen the couple’s relationship deteriorate recently, and even people who don’t watch have been exposed to their problems through an endless stream of headlines — “Caught With Other Woman” and “Inside Jon’s Prison” — in the tabloid and celebrity media.
Those who enjoy watching Jon and Kate Plus 8, the TV drama of a miserably unhappy heterosexual marriage and the trauma it causes for eight little children, need not worry, however. As they say in show biz, the show must go on.
The divorced couple will keep their meal ticket–I mean the 8 children–and the big house, which they will trade off living in. Jon and Kate will each have a separate residence elsewhere.
But the TV show is going to be renamed “Jon and Kate After Proposition 8.”
Do you hate life when it isn’t the way you think it should be?
Do you try to control others when your life leaves you feeling out of control?
Do you dislike people who ask annoying questions?
