The insanity continues. Now I just keep checking to see what else they have up their sleeves.
Really, when you think about it, the real estate market has just been perpetually and continually government sponsored, from when Clinton did away w/the capital gains tax of 250k for individuals to 500k for couples on 2 years of owning, then came the low rates, then came the zero down, then came the I/O, then came the Option ARMs.
Now we’ve got whatever government Hope program to keep you enslaved to your house, the 8k loan to lure people in, the 8k credit to bribe some more, next the 15k credit and well, it only makes sense that they’re going to do the 125% loan-to-value. How else can they float this thing? We’re going on 15 years of propping this market. Maybe down the road we’ll see 150% and 20k credit. I mean 2 years ago, would you have thought 15k credit and 125% loan-to-value. I don’t think any Pigg predicted that, just that the government will continue to throw money at this.
I’d like to say, when will it end, but we already know who runs this country and it’s not anyone we voted for, as they are owned.
