[quote=JohnAlt91941][quote=sdrealtor]However, I think of everyone you would support a program to give the benefits of all these radical gov’t interventions to people on the streets instad of to bailouts of big banks. That is what we are talking about here and what could actually help stimulate this economy.[/quote]
I would NOT “support a program to give the benefits of all these radical gov’t interventions to people on the streets instad of to bailouts of big banks” because I don’t buy into the premise that we should bail out either group.
If we want to “stimulate this economy”, fine. Let’s say the average homeowner gets his mortgage lowered by $300/month through a refinancing. Over 30 years that’s $108,000. As a renter I should receive the same but I’m not greedy and will settle for half that in cash, which I promise to help stimulate the economy like crazy with.[/quote]
John
Yes you are greedy if you want half of that as cash. Present value of $108,000 over a 30 year mortgage is closer to $30,000. The you have to factor in that most of these loans will only be in place an average of around 10 years. You are asking for $54,000 when the value to you as a renter would be closer to $10K, so while not chump change, you are greedy.
This is not about giving people a windfall, its is about changing long term dynamics.
