Best quote in this, ‘what’s unthinkable today may be seen the best of bad alternatives tomorrow’. Doesn’t that summerize the situation!
I think this is the biggest unknown in housing today; what is the government going to do and how will it impact the market? They will do everything they can to intervene in bank collapse or total market collapse (like the piggs on here are all predicting is possible). They have many more tools than they did in the depression era…so depression, just don’t see it…recession definitely. Implementing these type of bailout programs seems to be even trickier than inventing them. All I know is this type of rhetoric came too late for many many homeowners who have already been kicked out or are in the process…just doesn’t seem like they can implement anything fast enough (gov. isn’t known for it speed and agility to react).
