Getting back to the little guys:
I don’t really get bothered by homeowner bailout too much.There are more people I will be happy or relieved for than not. Not that I think it’s “fair” but I don’t care. Lots of them have cut down on spending, are working very hard and weren’t really bingeing they just paid too damn much for a house going into this recession.
I would probably like to see homeowner bailouts be limited, at the very least, to people who only got themselves upside down on one owner occupied house in the last decade.I think that would cut out a lot of the most irresponsible…and those working the system.
I don’t agree with any implications against average bubble sellers or even people who divested themselves of a collection of properties… or flipped.The flippers had to deal with acquisition costs going up too. I think they earned a living like any other merchant. I am just saying this based on the real world we live in. It’s competitive and full of risks.
I don’t see why one party, the sellers, should live with one hand tied behind their backs. Nothing wrong with cashing in on the risk, work and sacrifices one has made towards becoming more self-reliant… even if it is a little more than one would normally expect.
I bought in 2004 and am not upside down or looking for a bailout.
