What says more about your qualities as a leader than packing up and walking away from your mortgage.
From the great "progressive" city of Detroit, who hasn't had republican leadership since Eli Whitney invented the cotton gin.....
It was their dream home, a two-story, four-bedroom colonial in one of Detroit's nicest and most stable neighborhoods.So?
But then, one day in December, City Councilman Kwame Kenyatta and his wife packed up their belongings, locked the doors, mailed in the keys and walked away - adding another vacant house to the thousands in a city hard hit by the nation's mortgage crisis.
"We're already underwater when it comes to what we're paying on the house versus what the house is worth," Kenyatta said.
Now neither he nor his wife lost a job. Me makes $81,000 as a council member and his wife receives retirement income from a government pension and they couldn't swing a $2,600 a month mortgage payment?
I'm guessing that this bum is residing somewhere. My guess is also that his rent is probably not much less than what he's paying on his mortgage payment.
I'm sure if he called Chris Dodd, he'd be able to get a nice VIP mortgage referral over there at Countrywide.
But the best part of this article isn't this bum walking out on his responsibilities is this little diddy.....
In Detroit, the median sales price for a home is now a pathetic $5,800, down more than $66,000 from seven years ago. An estimated 16,000 foreclosed homes are on the market in the city of about 920,000 residents. Detroit also has one of the highest unemployment rates in the nation, at around 20 percent.
What's so "progressive" about $5,800 house?
It's probably George Bush's fault.