“For the FED and politicians and those people that influence them I don’t think the “fastest way back” is how they are looking at it…”
Of course not. If we thought they were heavily influenced by PACs and lobbyists before… we ain’t seen nothin yet! Yep affordability will come sooner or later, I would rather it be sooner, I think it would be healthier for the country and the economy in the long run if it were sooner.
Basically I am at heart, a libertarian. I really do not feel that our government should be doing much more then protecting our borders. I put tremendous faith in the free markets, unfortunately there is and will always be fraud in free markets and that sucks. However I do feel that the market will for the most part run efficiently and it will weed out inefficiences in the most timely manner if left to itself. That is my hope. My prediction however is more dour. IMO in the next 18 months we will see all sorts of political influence over this depreciating market. It will not stop it, nor do I think it will have much effect on the San Diego market in general which is all I care about. However it is just something I do not agree with.
BSR your analogy doesn’t hold water to my opinion because a blowout of the tire is a more or less random event. I didn’t go out and buy a new 600k car on 100% financing.
Tell me this… I am a bonehead and I buy a home I completely should have never bought. I financed it 100%, I should have never done it and then it was foreclosed on me. Instead of getting the boot, I get to rent it for about 2k less per month then what I was spending. I don’t have to move, my kids get to stay where they are at, everything is exactly the same except my credit is bad but that doesn’t matter as I am renting now anyways.
