Two minute video asking the question, and a typical pathetic NAR-style, socialist response from Bruce Marks CEO of NACA.
Don’t know much about Marks (here is his website http://www.naca.com/index.jsp) but he seems to be feigning a fight against subprime by exploiting it:
The incredible NACA mortgage allows NACA Members to purchase or refinance homes with:
– no down payment,
– no closing costs,
– no fees,
– no requirement for perfect credit,
– and at a below-market interest rate.
(You have to pay to be a member, $600 a year for up to 10 years)
Marks responds to the question by avoiding it, then attempts an irrational emotional appeal all based on a false assumption that 99% of the people you know are on the edge of losing their home, and you’re a jerk for holding their head under water by renting.
Someone should let him know only 1% are in foreclosure before he makes such a fool of himself, and get him to actually answer the question.
Then again, his answer would probably be, yes, you should pay for those people to not lose their home.
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