They’re doing everything they possibly can to avoid widespread panic, riots, revolts, uprising, strikes etc., but they’re not thinking.
It’s impulsive and reckless. The more they shortchange future generations the longer and more painful the recession and housing deflationary periods will be. All they are doing is attempting to save people by spending money we don’t have, to keep them in houses they can’t afford.
Even if it works for every single person facing foreclosure, prices will be artificially high and price out new buyers for even longer. Then when the baby boomers start to retire/pass on a new flood of real estate will hit the markets. If prices are still too high retirees will be screwed too as their nesteggs sit and depreciate.
