[quote=The author of the article]
It’s not too crazy, no? I mean, if you’re of the opinion that these borrowers should in fact be saved and given back home equity that perhaps they gambled on in the first place. The cost, NCRC estimates, $50-$100 billion.”
[/quote]
And what if you’re not of that opinion?
What a terrible idea. And what’s the banks say in all this? And who will these private equity buyers be? And what about current housing inventory sitting at unaffordable prices?
This is just another thing the Gov’t (and short sighted commentators) fails to understand. Forcing reductions in the value of assets discourages future lending for the purchase of those assets.
Everyone wonders why banks won’t lend the bailout money…What do you expect when their own money they lent is being written down on a daily basis.
