The real looser here is the renter. He is completely forgotten by both the media and Washington. Poor renter, especially if you have been responsible, saving because housing was insane and you wanted to live within your means. All the while your peers were lying/cheating, and financing 103% of their overpriced homes, making 100k per year in appreciation alone. You sat by observing the madness and when things went bad, you weren’t surprised.. until…
The entire country, government, and wall street did everything in their power to save that lying irresponsible prick next door who bought his house with 0 dollars down. All of a sudden that sorry ass prick became a victim. A victim who would be exploited over and over again by numerous politicians and so called economic experts. This victim is now facing foreclosure and the world just can’t sit by and let that happen. The government MUST STEP IN! The victim now receives constant sympathy from media and politicians, CNBC, etc… but poor renter what did responsibility get you… not even a mention. You are the forgotten man. You could have been living in an excessively large home all this time, and now you could have refinanced at a lower rate, and a smaller loan so you can stay in it, God forbid the alternative.
