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denverite.
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December 3, 2008 at 11:50 AM #310949December 3, 2008 at 3:24 PM #311025
cr
ParticipantThey want to keep home prices from falling, and keep people out of foreclosure. They are pathetically ignorant as to the true cause of our economic woes.
Falling prices are NOT the cause, they are the EFFECT of people in homes they can’t afford.
It’s still less than 2% of all mortgages that are in foreclsoure, yet over 30% of households rent.
Take the most qualified of that 40% and sell them the foreclosed homes at discounts. Let the lenders take losses on selling to people who CAN afford, not bailing out liars and speculators.
That will teach banks not to lend to people they shouldn’t, teach people not to buy more than they can afford, and reward rather than punish those who save money, not those who lied about how much they make.
December 3, 2008 at 3:24 PM #311385ParticipantThey want to keep home prices from falling, and keep people out of foreclosure. They are pathetically ignorant as to the true cause of our economic woes.
Falling prices are NOT the cause, they are the EFFECT of people in homes they can’t afford.
It’s still less than 2% of all mortgages that are in foreclsoure, yet over 30% of households rent.
Take the most qualified of that 40% and sell them the foreclosed homes at discounts. Let the lenders take losses on selling to people who CAN afford, not bailing out liars and speculators.
That will teach banks not to lend to people they shouldn’t, teach people not to buy more than they can afford, and reward rather than punish those who save money, not those who lied about how much they make.
December 3, 2008 at 3:24 PM #311412ParticipantThey want to keep home prices from falling, and keep people out of foreclosure. They are pathetically ignorant as to the true cause of our economic woes.
Falling prices are NOT the cause, they are the EFFECT of people in homes they can’t afford.
It’s still less than 2% of all mortgages that are in foreclsoure, yet over 30% of households rent.
Take the most qualified of that 40% and sell them the foreclosed homes at discounts. Let the lenders take losses on selling to people who CAN afford, not bailing out liars and speculators.
That will teach banks not to lend to people they shouldn’t, teach people not to buy more than they can afford, and reward rather than punish those who save money, not those who lied about how much they make.
December 3, 2008 at 3:24 PM #311432ParticipantThey want to keep home prices from falling, and keep people out of foreclosure. They are pathetically ignorant as to the true cause of our economic woes.
Falling prices are NOT the cause, they are the EFFECT of people in homes they can’t afford.
It’s still less than 2% of all mortgages that are in foreclsoure, yet over 30% of households rent.
Take the most qualified of that 40% and sell them the foreclosed homes at discounts. Let the lenders take losses on selling to people who CAN afford, not bailing out liars and speculators.
That will teach banks not to lend to people they shouldn’t, teach people not to buy more than they can afford, and reward rather than punish those who save money, not those who lied about how much they make.
December 3, 2008 at 3:24 PM #311498ParticipantThey want to keep home prices from falling, and keep people out of foreclosure. They are pathetically ignorant as to the true cause of our economic woes.
Falling prices are NOT the cause, they are the EFFECT of people in homes they can’t afford.
It’s still less than 2% of all mortgages that are in foreclsoure, yet over 30% of households rent.
Take the most qualified of that 40% and sell them the foreclosed homes at discounts. Let the lenders take losses on selling to people who CAN afford, not bailing out liars and speculators.
That will teach banks not to lend to people they shouldn’t, teach people not to buy more than they can afford, and reward rather than punish those who save money, not those who lied about how much they make.
December 4, 2008 at 12:43 PM #311394denverite
ParticipantCooprider, some good points and ideas. Of course, none will be implemented…much too fair.
On the central point, my theory is that “they” really want to keep housing prices high, through government loan guarantees, low mortage rate, and all the stuff we’ve talked endlessly on.
The banks want to keep housing prices high because they would continue to make large loans and closing fees on overpriced assets that are backed by government guarantees. That way the lending institutions maintain the maximum outstanding loans in perpetuity with almost no risk.
That being said, there is no guarantee that events will unfold in the way the powers-that-be want.
That is my rant for the day.
December 4, 2008 at 12:43 PM #311753ParticipantCooprider, some good points and ideas. Of course, none will be implemented…much too fair.
On the central point, my theory is that “they” really want to keep housing prices high, through government loan guarantees, low mortage rate, and all the stuff we’ve talked endlessly on.
The banks want to keep housing prices high because they would continue to make large loans and closing fees on overpriced assets that are backed by government guarantees. That way the lending institutions maintain the maximum outstanding loans in perpetuity with almost no risk.
That being said, there is no guarantee that events will unfold in the way the powers-that-be want.
That is my rant for the day.
December 4, 2008 at 12:43 PM #311780ParticipantCooprider, some good points and ideas. Of course, none will be implemented…much too fair.
On the central point, my theory is that “they” really want to keep housing prices high, through government loan guarantees, low mortage rate, and all the stuff we’ve talked endlessly on.
The banks want to keep housing prices high because they would continue to make large loans and closing fees on overpriced assets that are backed by government guarantees. That way the lending institutions maintain the maximum outstanding loans in perpetuity with almost no risk.
That being said, there is no guarantee that events will unfold in the way the powers-that-be want.
That is my rant for the day.
December 4, 2008 at 12:43 PM #311803ParticipantCooprider, some good points and ideas. Of course, none will be implemented…much too fair.
On the central point, my theory is that “they” really want to keep housing prices high, through government loan guarantees, low mortage rate, and all the stuff we’ve talked endlessly on.
The banks want to keep housing prices high because they would continue to make large loans and closing fees on overpriced assets that are backed by government guarantees. That way the lending institutions maintain the maximum outstanding loans in perpetuity with almost no risk.
That being said, there is no guarantee that events will unfold in the way the powers-that-be want.
That is my rant for the day.
December 4, 2008 at 12:43 PM #311870ParticipantCooprider, some good points and ideas. Of course, none will be implemented…much too fair.
On the central point, my theory is that “they” really want to keep housing prices high, through government loan guarantees, low mortage rate, and all the stuff we’ve talked endlessly on.
The banks want to keep housing prices high because they would continue to make large loans and closing fees on overpriced assets that are backed by government guarantees. That way the lending institutions maintain the maximum outstanding loans in perpetuity with almost no risk.
That being said, there is no guarantee that events will unfold in the way the powers-that-be want.
That is my rant for the day.
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