[quote=briansd1]CA renter, its not about propping up banks and prices. It’s about keeping economic activity from falling off. By economic activity I mean the number of cars sold, the number of meals served at restaurants, etc…[/quote]
Letting it correct is what restarts the economic activity.
Everyone is forced to move on. Instead we have everyone, from business people to home owners just ‘hanging on’ waiting for it to return to what it was and it won’t.
We could have bottomed out 2 years ago. Home construction would have restarted, rehabbing the foreclosures would have been a two year boom, lots of people working, prices would be way down (probably another 20% from peak, maybe more).
Wages, probably would have gone up.
Rents would go down.
But instead, we have a stall that they keep pumping trying to keep in th stratosphere.
