[Artifact]

So people who have been fiscally responsible and not mortgaged themselves over their means, will now pay to bail out those who were not responsible…and in the process help keep prices higher than they can responsibly afford.

Great!

Granted, Ohio’s prices are not as overinflated as San Diego, but the trend is not a good one to start – I consider myself a Democrat politically, but this is going too far for me. For every actual bad luck story (someone who might actually warrant some help), there are at least one, and probably more around here, stories of someone who got caught trying to work the system.

[Artifact]

meadandale –

I did not mean that as if it was not being proposed by democrats – The democrats are generally more inclined to propose welfare-like ideas when it includes individuals – while the republicans generally propose equally welfare-like ideas when it invloves business, farmers, fisherman, etc., – Both parties provide “welfare” at the expense of the average taxpayer, just to different groups depending on who your voter base is. If the Republicans were in power this would be a “we have to save the lenders” proposal instead.

In the context of this proposal, I agree that it is a “Democrat” proposal – but I think that the “poor homebuyer” bit is just window dressing for the politicians to hide behind while they try to prop up the businesses who have given them money. I am guessing there will be a number of Democrats opposed to the idea, just as there will be a number of Republicans in favor of it.

Personally, I think it is a horrible idea for the reasons I posted and while I generally consider myself a democrat, I am not a huge proponent of much of the way we go about welfare in this country. I am all for helping people, I just don’t think we always do it in a very prudent way.

[Artifact]

I hate that this seems to pan out as a “democrat” – “republican” issue since I am somewhat on the liberal side myself. To me it just pans out as the usual political stupidity that Washington manages to churn out once in a while regardless of party.

I am one of those renters who has been somewhat careful, not taken a stupid mortgage, etc.

They are proposing quite a double-edged sword:

First, bail out the people who were not careful – and more importantly in a political sense, some of the finanical institutions and investors.

This of course will then help keep the housing bubble inflated, in essence keeping people like myself, now paying for the idiots who used the sub-prime mortgages to keep their homes while I will not be able to afford one myself as long as we artificially prop up the prices.

So I get the privelege of paying to bail out the lenders and borrowers so that they can keep the homes I should be able to afford but can’t –

Nice –

[Artifact]

I had just finished reading this story this morning when my phone rang. It was a RE agent calling to see how my home search is going – I have given my phone number to a few new home developers, agents, etc. , including zip realty – I don’t really care if they call. I will buy a home someday – I make enough money and will have 20% down (assuming the market adjusts back to something that resembles normal). It is not easy waiting and paying rent – it has been beaten into me since birth that you grow up, get married, buy a home, have children – but I am observant enough, or at least like to think I am, to see that waiting out this year can do nothing but help my cause.

Anyway, the point is that this agent told me that sales were picking up and if I really wanted to get into the market here I really needed to try and do it this spring, before the summer gets here and it is hard to find a home I want! This following on the heels of reading this article – I am not sure where the interpretation error was, but clearly one of the two of us was not understanding something!

Edit: I had not read the second article which was posted above – evidence of selective reading – me really wanting prices to drop reading only the first article and the RE Agent really want to sell homes and only reading the second.

[Author]

Posts