[quote=briansd1][quote=carlsbadworker]People need to understand: foreclosure is not the problem; foreclosure is the solution.
A housing bust is only devastating because it reflects the huge mis-allocation of capital during the housing boom.[/quote]
I agree.
But the problem is what do you do with the millions of people thrown out onto the streets?
[/quote]
Drama much? Thrown on the streets? What makes you think they’ll be homeless?
These people had places to live before they purchased homes they could not make payments on… they can go back to renting, living with parents, house-shares, etc. My mom’s parents never purchased a house and lived a very comfortable, middle class existence. They were never “thrown out on the streets” just because they didn’t own a home. Home ownership is not a requirement for a roof over your head.
