Honestly, I don’t have rage at this.
It seems like a dumb idea but not so much it actually angers me.
I do actually believe in government intervention in the economy.
I think the success of China in the last 15 years is an example of how beneficial government interference can be when coupled with capitalist initiative.
And I don’t think it is mutually exclusive with democracy.
Further, if the $15k measure succeeds, while being a dumb idea, it is in my material self interest.
I care more about putting food on the table than making a point.
Oh, and thats part of why I am still a member of NAR.
It really is a practical necessity.[/quote]
i believe if the prices were allowed to hit their equilibrium level,
the market would suck up these houses.
They are selling REO’s in DC and everytime one hits for under 100K/Bedroom
it sells in a week,
the problem is the overhang of excess inventory needs to be worked out.
If the feds would stop underwriting jumbo mortgages, stop insuring
high risk mortgages, insist people buy for 20% down, then we would
have real substantial house sales.
And fast nickels are as good as slow dimes.
China is a real mess, looks good on the surface like this.
The chinese are wrecking their environment, poisoning their people
and building crap.
Now a muscular regulatory environemnt would help, as well
as public sector investment in long term programs.
if the feds would invest into renewable energy, that would help,
have energy standards so you could have zero energy homes,
that would help and tax credits for this,
I would replace all mortgage credits with energy credits.
if youpaid people for solar panels on rooftops, you could
power america in under 3 ears.
