This just makes me sick. All these people act like infants and demand that “Mommy fix their Boo-boo!”
The moral of the story is, “Buy stuff you can’t afford and then whine to the government when the real owners try to take it back.”
They should lose their homes. But, I guess the bond holders will lose their money instead. Maybe that loss will force at least some people in the market to act like adults.
Maybe owning a house can become an economic right? Just like in the Soviet Union when everyone was given an apartment and a job for life. We’ll have socialized medicine in this country before long and probably socialized housing.
Force people to pay cash for their houses and housing would not be overpriced. Get rid of the mortgage deduction.
