alw 0 #1 September 18, 2008 So now the government is talking about buying up bad mortgages. Barry O wants to give the low and middle income earners freebees. Why not just give them the houses? --------------------------------------------- Every day is a bonus - every night is an adventure. Quote Share this post Link to post Share on other sites
akarunway 1 #2 September 18, 2008 QuoteSo now the government is talking about buying up bad mortgages. Barry O wants to give the low and middle income earners freebees. Why not just give them the houses?Hey. They bailed out the rich fuckers. Why not the stupid/poor ones?I hold it true, whate'er befall; I feel it, when I sorrow most; 'Tis better to have loved and lost Than never to have loved at all. Quote Share this post Link to post Share on other sites
billvon 2,427 #3 September 18, 2008 >Hey. They bailed out the rich fuckers. Why not the stupid/poor ones? True. And houses will probably be a lot cheaper than the AIG bailout. Quote Share this post Link to post Share on other sites
Misternatural 0 #4 September 18, 2008 Banks in a way have been "giving away" houses for a long time due to the gross mismanagement of credit. The problem started with nationwide overvaluation of real estate property. I can tell you that this problem germinated in small town and municipality assessors offices across the nation it was and still is a mindset which must be broken. The results are in and clearly now the chickens have come back to roost and no one wants to admit it. Though I feel sorry for people trying to sell their houses at these prices- they MUST be reduced. Thats one solution. I am in a fight with my town right now over this and am undergoing an expensive appeals process to make my point and I am going to continue to do so until someone listens. Property over valuation is the crux of the debt problem! Granted in a truly free market world price is set by what the market will bear-BUT that works ONLY if the buyers are using real money to buy the commodity in question with. THIS has not been the case in this country for a long time. The consumer has been leveraged twoard debt using Play money thus creating false price points that are not based on actual income. Sellers and REALTORS have set the price of properties in the stratosphere because banks were willing to fund the consumer beyond real limits. This process is good, it has to happen -and now the system will be revamped to deal with it through regulation and capitulation. The process will be very painful and some of the banks have to eat it. Pain is a good teacher.Beware of the collateralizing and monetization of your desires. D S #3.1415 Quote Share this post Link to post Share on other sites
Lindsey 0 #5 September 18, 2008 Quote>Hey. They bailed out the rich fuckers. Why not the stupid/poor ones? True. And houses will probably be a lot cheaper than the AIG bailout. Yeah, but didn't this whole thing start (sort of) by trying to help out the stupid/poor ones by giving them home loans to begin with? I guess if we want to bring it full circle, we could give them their houses back and call it a draw or something.... linz-- A conservative is just a liberal who's been mugged. A liberal is just a conservative who's been to jail Quote Share this post Link to post Share on other sites
