Politics | 08/22/2008 11:05 am

The Obama, McCain Housing Crisis: It's Not the One You Think (Videos)

By The Staff at wowOwow.com

For the past week, a viral battle has been brewing between Democratic presidential candidate Barack Obama and his Republican rival John McCain over housing. No, not the housing crisis that you think — not the one we hear about every night, the one that has caused the greatest home price decline since the Great Depression. Not that one that might cause Fannie Mae and Freddie Mac to collapse as early as this afternoon, according to CNBC’s Jim Cramer. No, what ignited this back-and-forth campaign has to do with the houses owned by the two candidates, as in how many they have and how they got them. This particularly silly series of video attacks began after John McCain admitted to Politico.com that he has no clue how many homes he owns — and Barack Obama immediately bounced on the blunder as proof that McCain is too out of touch with American voters.

Whether Obama owns one home and McCain owns seven or eight, both of them are worth a hefty fortune, according to CBS News and the New York Post. Watch these two YouTube videos below to witness some of the "housing war" campaign attacks.

Read more about: Barack Obama, Election, Housing, John McCain, News, Politics, president, Video

120 Reader Comments (so far…) Sign In or Register to comment

I guess working in the business I work in and knowing the cost of homes in Chicago areas Obama’s house is expensive and DO NOT ever say I got it from that Rush guy…I will take that as an insult that you would think I belive anything that woman hater has to say…….that is a low blow. You are from Chicago right? You also know the price of homes and its nuts! Just b/c McCain has money or his wife has money does not mean he cant feel for the one’s who dont. I dont care that he has shoes that cost $500…I mean if I had the money I may even own a pair or two as you would…If my husband had the money & wanted to invest in homes and not tell me, oh well…its his money. As long as I had a great pre-nup! and again the foreclosure crises is not all our governments fault and this again comes from working in the mtg industry & seeing it first hand…banks and lenders were doing just as much wrong as the people buying homes. Yes people were taken advantage of but people also took advantage of…it went both ways. alot of these people knew they couldnt afford most of the homes they were buying but did it anyway…lenders gave loans knowing they couldnt afford it…how is that the President’s fault? Congress has also been Democratic for how long now…and they didnt know or do anything about it…they sat back and watched. Oh but wait again thats ok……

By C Hardy on 08/22/2008 9:40 pm

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obama owns one home, worth probably less than $2 million. mccain, in his marriage, owns at least seven homes, whose maintainance costs hundreds of thousands of dollars a year.

By mary lou s on 08/24/2008 1:31 am

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I also dont see Obama shopping at wal-mart to buy his clothes or target…I am sure he gets his clothes from the expensive guys just like his wife and kids clothes…I am sure they dont wear walmart brand clothes to school…and i am sure he and his wife own a couple of pairs of shoes that cost over $500…but we wont know b/c who REALLY CARES?

By C Hardy on 08/22/2008 9:42 pm

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Co How can you make statements Like “I am sure” about repeated things. You can’t possibly be SURE as you state about any of that. When you make statements like that……… it takes your credibility away when you try to make statements about improtant things. It’s no more a discussion but just nit picking with absurd statements.

By Dona Howlett on 08/24/2008 4:49 am

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I was trying to make the point that for me I dont really care what shoes he wears, either one of them, or how many homes either one of them have…I dont feel either one of them can relate to what I am going through right now for me and my family…Even if Obama grew up this way he can’t relate to me right now b/c he isnt walking a mile in my shoes…that was my point…and if I am sure gets thrown in there from me it does by lots and I dont take it away from their credibility b/c you can see then in pictures or even on vacation their clothes are nice…I mean Obama’s wife is now being labeled one of the best dressed and you can bet her clothes dont come from walmart where most of mine do….

By C Hardy on 08/24/2008 8:06 pm

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Co, Mo Obama is not walking a mile in your shoes…………. What ever that means………… Yes his wife is beautifully dressed. I would hope any woman married to a man that was running for President of my Country could afford good clothes. I don’t think her clothes came from Wal Mart………..but I’m not SURE. You say most of yours come from Wal Mart…………if McCain wins the White house and our economy continues on it’s downward slide those people who are buying their clothes at Wal Mart might have to start buying them at the GoodWill stores. I hope each and every person who runs for President of the USA makes a good living…………..lives in a nice house and has plentry of money in the bank. I sure wouldn’t want an uneducated poor man to be President……. The person who holds that office needs a lot of intelligence and knowledge of how to make money. Plus so many other talents that an uneducated poor person could not possibly have. McCain has always lived in wealth…………Obama was not wealthy as a child and I believe he can better relate to me than Mc Cain.

By Dona Howlett on 08/25/2008 3:46 am

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C O, I am curious….do you resent everyone who has worked really hard and been able to improve their lot in life, or is this something that only bothers you about Barack and Michelle Obama?

By ~ countrywoman ~ on 08/25/2008 6:01 am

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Countrywoman…HECK NO! I have respect for people who do that but when they get to the point where Obama is, dont look back and down on those that aren’t to your level and whenever I see Obama speak to someone that is look I FEEL he gives…There is no resentment and if my words came across as such, take it as you will b/c I will not apologize. I dont feel that any Presidental canidate can relate to any of us under their wealth. I don’t care how you were raised or how much money you had growing up… So it ok for Obama’s wife to dress nice & look like wealth but not the McCains?

By C Hardy on 08/25/2008 6:40 am

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C O…..You weren’t commenting on Cindy McCain, so that is why I only asked about the Obamas. To answer your question, I think Mrs. McCain is a beautiful and classy lady who looks as comfortable in a fancy designer dress as she does in jeans and a tee shirt. I think it is more than okay for anyone to wear whatever makes them happy. Of course I wasn’t looking for an apology…..we all see things through our own experience. I am so sorry that you see Senator Obama as looking down on anyone. When I see him speak, I see confidence, and a man who has worked really hard to get where he is. I can only imagine how difficult it was for him to be raised by his white grandparents in a mostly white world. I respect that he was able to realize his potential in spite of humble beginnings. When I notice his posture, I can almost hear his grandmother (or maybe his mom?) whispering in his ear telling him to stand up straight and carry himself with pride. And as far as the candidates go, I bet being born rich makes it way more difficult to relate to us regular folks than someone who has struggled to earn his way. I am quite aware that you and I see things very differently about politics, C O, but I read what you wrote on the thread about the elderly lady who made the bad guy call 911, and we are in COMPLETE agreement about what helps us feel safe. I too have a big, beautiful, and very protective dog (German Shepherd) and some fine fire-power for backup! (I used to work in law enforcement) Have you noticed that the bad guys tend to leave us well-protected ladies alone? Works for me!
:-)

By ~ countrywoman ~ on 08/25/2008 7:43 am

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It also helps with me that I have a state trooper car parked in front of my house as that is what my fiance’ does! :) I think both potetial first ladies are very elegant and classy. Yes we do see Obama very differently…when I was watching him with his Saddleback Church interview I didnt like the smurks he got on his face when he would hear the question or when he would go to answer…Hence me saying he looks down on others bc if I was being looked at that way, that is how I would take it but others don’t see it that way.

By C Hardy on 08/25/2008 12:15 pm

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Hey C O Like I said, we all see things through our own filters. I know exactly what you mean about perceptions of body language, I feel the same way about the other contender….he doesn’t make me feel like he is looking down on me, as you feel about Obama, but there is just something that scares me about the man. Eyes, speech patterns, expressions?…..like you , I can’t exactly put it into words. So while we don’t agree, I do understand where you are coming from. When you mention the patrol car parked in the driveway, it reminds me of a true story from my own life experience. A married couple, (the hubby is a State Trooper, and his wife is a piano teacher) long time friends of mine, moved into a neighborhood and were a bit concerned that one of their new neighbors seemed to be very unfriendly. It seems that the concerned neighbors thought my friends were running a drug house…..after all, they noticed a lot of cars coming and going, (students being dropped off for piano lessons) and there was often a POLICE CAR parked out front! (State Trooper coming home for lunch whenever possible.) Those worried neighbors were sure happy to find out the real story, and this situation goes to show that things aren’t always what they seem. At the end of the day, all any of us can do is to learn everything we can, keep an open mind, and trust our instincts? Best wishes to you and your fiancé as you begin your lives together. Marriage to someone in law enforcement can have its own special set of challenges and blessings……but I’m sure you already knew that??
:-)

By ~ countrywoman ~ on 08/25/2008 7:42 pm

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Yes Countrywoman it has its ups and down but more ups than downs…he has a great schedule so he is home more than he isnt so that is great for us and our 2 year old… Hey I also agree about McCain and his body language…I really dont like either canidate…I like Obama’s VP choice and waiting to see who McCain picks…

By C Hardy on 08/25/2008 8:41 pm

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There is no comparison as to who has the most money. Imagine Obama having two “servants” houses! McCains “servants” payroll of $270,000 puts them in a class unknown to 99% of Americans. What is really mean spirited is that he voted to filibuster a minimum wage increase that was supported by 75% of Americans. McCain voted with the Republicans in 2007 to stall a clean minimum wage increase for working families—before bowing to public pressure and voting to pass the final bill that included tax breaks for businesses. He even voted to completely repeal the minimum wage laws in 45 states and allow the other five states to opt out of any future minimum wage increases above $5.15 an hour. [H.R. 2, Vote #23, 1/24/07; Vote #24, 1/24/07; Vote #25, 1/25/07; Vote #37, 1/31/07; Vote #39, 1/31/07; Vote #42, 1/31/07; S. 2766, Vote #179, 6/21/06; S. 256, Vote #26, 3/7/05] * But McCain Supported Tax Cuts for the Wealthiest Americans. McCain voted for a budget reconciliation bill in 2005 that included a $60 billion tax cut for the wealthiest Americans, with more than three-quarters of the benefits going to families with $100,000 or more in annual income. [S. 2020, Vote #26, 11/18/05] * * data source - http://www.aflcio.org/issues/politics/mccain_jobs.cfm

By Fran Greene on 08/22/2008 11:11 pm

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Obama can’t play footsies with these guys like he did with Hillary. The mud he slings better be better than that, especially when he lives in a glass house. “Seven, seven houses.” Petty ad.

By Buh- Bye on 08/23/2008 2:01 am

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my alias, talk about petty when you realize that the maintainance alone on mccain’s houses costs over $270,000 a year, and the total value of obama’s one house is less than $2,000,000.

By mary lou s on 08/24/2008 1:37 am