idea for stabilizing the housing market.

[sreeb]

Better yet, the govenment buys forclosures from the banks and demos them:

1) It puts money in the banks hands. They will pay it out in bonuses which will eventually stimulate the economy.

2) It reduces the supply making the remaining inventory more valuable. No more below water loans.

3) It provides demo jobs.

4) You may get a nifty mini park right next door.

All we need is a catchy name like “cash for caves” and we are good to go.

[CA renter]

[quote=sreeb]Better yet, the govenment buys forclosures from the banks and demos them:

1) It puts money in the banks hands. They will pay it out in bonuses which will eventually stimulate the economy.

2) It reduces the supply making the remaining inventory more valuable. No more below water loans.

3) It provides demo jobs.

4) You may get a nifty mini park right next door.

All we need is a catchy name like “cash for caves” and we are good to go.[/quote]

You’re scaring me, sreeb. Please don’t give them any more crazy ideas. 😉

[CA renter]

[quote=sreeb]Better yet, the govenment buys forclosures from the banks and demos them:

1) It puts money in the banks hands. They will pay it out in bonuses which will eventually stimulate the economy.

2) It reduces the supply making the remaining inventory more valuable. No more below water loans.

3) It provides demo jobs.

4) You may get a nifty mini park right next door.

All we need is a catchy name like “cash for caves” and we are good to go.[/quote]

You’re scaring me, sreeb. Please don’t give them any more crazy ideas. 😉

[CA renter]

[quote=sreeb]Better yet, the govenment buys forclosures from the banks and demos them:

1) It puts money in the banks hands. They will pay it out in bonuses which will eventually stimulate the economy.

2) It reduces the supply making the remaining inventory more valuable. No more below water loans.

3) It provides demo jobs.

4) You may get a nifty mini park right next door.

All we need is a catchy name like “cash for caves” and we are good to go.[/quote]

You’re scaring me, sreeb. Please don’t give them any more crazy ideas. 😉

[CA renter]

[quote=sreeb]Better yet, the govenment buys forclosures from the banks and demos them:

1) It puts money in the banks hands. They will pay it out in bonuses which will eventually stimulate the economy.

2) It reduces the supply making the remaining inventory more valuable. No more below water loans.

3) It provides demo jobs.

4) You may get a nifty mini park right next door.

All we need is a catchy name like “cash for caves” and we are good to go.[/quote]

You’re scaring me, sreeb. Please don’t give them any more crazy ideas. 😉

[CA renter]

[quote=sreeb]Better yet, the govenment buys forclosures from the banks and demos them:

1) It puts money in the banks hands. They will pay it out in bonuses which will eventually stimulate the economy.

2) It reduces the supply making the remaining inventory more valuable. No more below water loans.

3) It provides demo jobs.

4) You may get a nifty mini park right next door.

All we need is a catchy name like “cash for caves” and we are good to go.[/quote]

You’re scaring me, sreeb. Please don’t give them any more crazy ideas. 😉

[scaredyclassic]

but it isnt what is happening now. i mean,i hesitate to buy a house because i dont want to be trapped underwater for a long time. take away that fear and id buy the house. would an explicit fdic type guarantee cost less than all these other shenanigans? and, like fdic insurance, would its mere existence make it less likely to be necessary. banks don’t fail as often because people don’t pull their money out because if the bank fails they get paid off, so they leave their money there and th ebanks don’t fail.

im not saying this plan to guarantee home prices is a good idea — just that it might be a better more effective idea than the current roundabout scheme.

[scaredyclassic]

but it isnt what is happening now. i mean,i hesitate to buy a house because i dont want to be trapped underwater for a long time. take away that fear and id buy the house. would an explicit fdic type guarantee cost less than all these other shenanigans? and, like fdic insurance, would its mere existence make it less likely to be necessary. banks don’t fail as often because people don’t pull their money out because if the bank fails they get paid off, so they leave their money there and th ebanks don’t fail.

im not saying this plan to guarantee home prices is a good idea — just that it might be a better more effective idea than the current roundabout scheme.

[scaredyclassic]

but it isnt what is happening now. i mean,i hesitate to buy a house because i dont want to be trapped underwater for a long time. take away that fear and id buy the house. would an explicit fdic type guarantee cost less than all these other shenanigans? and, like fdic insurance, would its mere existence make it less likely to be necessary. banks don’t fail as often because people don’t pull their money out because if the bank fails they get paid off, so they leave their money there and th ebanks don’t fail.

im not saying this plan to guarantee home prices is a good idea — just that it might be a better more effective idea than the current roundabout scheme.

[scaredyclassic]

but it isnt what is happening now. i mean,i hesitate to buy a house because i dont want to be trapped underwater for a long time. take away that fear and id buy the house. would an explicit fdic type guarantee cost less than all these other shenanigans? and, like fdic insurance, would its mere existence make it less likely to be necessary. banks don’t fail as often because people don’t pull their money out because if the bank fails they get paid off, so they leave their money there and th ebanks don’t fail.

im not saying this plan to guarantee home prices is a good idea — just that it might be a better more effective idea than the current roundabout scheme.

[scaredyclassic]

but it isnt what is happening now. i mean,i hesitate to buy a house because i dont want to be trapped underwater for a long time. take away that fear and id buy the house. would an explicit fdic type guarantee cost less than all these other shenanigans? and, like fdic insurance, would its mere existence make it less likely to be necessary. banks don’t fail as often because people don’t pull their money out because if the bank fails they get paid off, so they leave their money there and th ebanks don’t fail.

im not saying this plan to guarantee home prices is a good idea — just that it might be a better more effective idea than the current roundabout scheme.

[kicksavedave]

So I buy a house, turn it into basically a crack house, let it deteriorate into a hot mess, then go fetch my check from the Govt when I want to move up and my resale value is 40% of my loan?

I realize that’s a rare possibility but it happens already today, people let houses go and they need massive repairs/updates to return to comp levels.

Why should we have to pay for that, and/or how would your program exclude that from its coverage?

Utopian idea in theory, not practicable though. Plus Sarah Palin would call you a socialist for even suggesting it.

[kicksavedave]

So I buy a house, turn it into basically a crack house, let it deteriorate into a hot mess, then go fetch my check from the Govt when I want to move up and my resale value is 40% of my loan?

I realize that’s a rare possibility but it happens already today, people let houses go and they need massive repairs/updates to return to comp levels.

Why should we have to pay for that, and/or how would your program exclude that from its coverage?

Utopian idea in theory, not practicable though. Plus Sarah Palin would call you a socialist for even suggesting it.

[kicksavedave]

So I buy a house, turn it into basically a crack house, let it deteriorate into a hot mess, then go fetch my check from the Govt when I want to move up and my resale value is 40% of my loan?

I realize that’s a rare possibility but it happens already today, people let houses go and they need massive repairs/updates to return to comp levels.

Why should we have to pay for that, and/or how would your program exclude that from its coverage?

Utopian idea in theory, not practicable though. Plus Sarah Palin would call you a socialist for even suggesting it.

[kicksavedave]

So I buy a house, turn it into basically a crack house, let it deteriorate into a hot mess, then go fetch my check from the Govt when I want to move up and my resale value is 40% of my loan?

I realize that’s a rare possibility but it happens already today, people let houses go and they need massive repairs/updates to return to comp levels.

Why should we have to pay for that, and/or how would your program exclude that from its coverage?

Utopian idea in theory, not practicable though. Plus Sarah Palin would call you a socialist for even suggesting it.

[Author]

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