[EconProf]

gdcox: I agree with your slam on President Bush to not put reins on mortgage brokers some years back. Might have avoided some, but not all, of our current problems.
But note that for economic principles (and capitalism) to work, we don’t need perfect information. We act with what we know, we seek better info, and we USUALLY avoid doing stupid things that hurt us. The sad thing about the bailout is that it would remove market incentives to do the right thing in the future.

[EconProf]

gdcox: I agree with your slam on President Bush to not put reins on mortgage brokers some years back. Might have avoided some, but not all, of our current problems.
But note that for economic principles (and capitalism) to work, we don’t need perfect information. We act with what we know, we seek better info, and we USUALLY avoid doing stupid things that hurt us. The sad thing about the bailout is that it would remove market incentives to do the right thing in the future.

[EconProf]

gdcox: I agree with your slam on President Bush to not put reins on mortgage brokers some years back. Might have avoided some, but not all, of our current problems.
But note that for economic principles (and capitalism) to work, we don’t need perfect information. We act with what we know, we seek better info, and we USUALLY avoid doing stupid things that hurt us. The sad thing about the bailout is that it would remove market incentives to do the right thing in the future.

[EconProf]

gdcox: I agree with your slam on President Bush to not put reins on mortgage brokers some years back. Might have avoided some, but not all, of our current problems.
But note that for economic principles (and capitalism) to work, we don’t need perfect information. We act with what we know, we seek better info, and we USUALLY avoid doing stupid things that hurt us. The sad thing about the bailout is that it would remove market incentives to do the right thing in the future.

[EconProf]

gdcox: I agree with your slam on President Bush to not put reins on mortgage brokers some years back. Might have avoided some, but not all, of our current problems.
But note that for economic principles (and capitalism) to work, we don’t need perfect information. We act with what we know, we seek better info, and we USUALLY avoid doing stupid things that hurt us. The sad thing about the bailout is that it would remove market incentives to do the right thing in the future.

[EconProf]

Good gosh, how can people be so stupid? The people now underwater on their foolish loans seem to have two things in common: inability to control their spending appetites as fueled by advertising, and a mind-boggling economic illiteracy. Add in short-term instant gratification mentality and a failure to plan for the long term.
Where are the public schools in teaching these people the financial facts of life.
About the only positive element of the proposed housing bailout bill is a small part that would teach the bailee how to not get into trouble again. Better late than never.

[EconProf]

Good gosh, how can people be so stupid? The people now underwater on their foolish loans seem to have two things in common: inability to control their spending appetites as fueled by advertising, and a mind-boggling economic illiteracy. Add in short-term instant gratification mentality and a failure to plan for the long term.
Where are the public schools in teaching these people the financial facts of life.
About the only positive element of the proposed housing bailout bill is a small part that would teach the bailee how to not get into trouble again. Better late than never.

[EconProf]

Good gosh, how can people be so stupid? The people now underwater on their foolish loans seem to have two things in common: inability to control their spending appetites as fueled by advertising, and a mind-boggling economic illiteracy. Add in short-term instant gratification mentality and a failure to plan for the long term.
Where are the public schools in teaching these people the financial facts of life.
About the only positive element of the proposed housing bailout bill is a small part that would teach the bailee how to not get into trouble again. Better late than never.

[EconProf]

Good gosh, how can people be so stupid? The people now underwater on their foolish loans seem to have two things in common: inability to control their spending appetites as fueled by advertising, and a mind-boggling economic illiteracy. Add in short-term instant gratification mentality and a failure to plan for the long term.
Where are the public schools in teaching these people the financial facts of life.
About the only positive element of the proposed housing bailout bill is a small part that would teach the bailee how to not get into trouble again. Better late than never.

[EconProf]

Good gosh, how can people be so stupid? The people now underwater on their foolish loans seem to have two things in common: inability to control their spending appetites as fueled by advertising, and a mind-boggling economic illiteracy. Add in short-term instant gratification mentality and a failure to plan for the long term.
Where are the public schools in teaching these people the financial facts of life.
About the only positive element of the proposed housing bailout bill is a small part that would teach the bailee how to not get into trouble again. Better late than never.

[EconProf]

You are quite right Noob. # & quality of bathrooms plays a big part, as does size and quality of kitchen. Accordingly, fewer bedrooms in a house warrant higher P/Sq.ft.
Other considerations: Size of lot–small house on big lot raises P/Sq.ft. Single-story worth more than two story. This is a big factor in “bargain” prices P/Sq.ft. Temecula McMonster houses.

[EconProf]

You are quite right Noob. # & quality of bathrooms plays a big part, as does size and quality of kitchen. Accordingly, fewer bedrooms in a house warrant higher P/Sq.ft.
Other considerations: Size of lot–small house on big lot raises P/Sq.ft. Single-story worth more than two story. This is a big factor in “bargain” prices P/Sq.ft. Temecula McMonster houses.

[EconProf]

You are quite right Noob. # & quality of bathrooms plays a big part, as does size and quality of kitchen. Accordingly, fewer bedrooms in a house warrant higher P/Sq.ft.
Other considerations: Size of lot–small house on big lot raises P/Sq.ft. Single-story worth more than two story. This is a big factor in “bargain” prices P/Sq.ft. Temecula McMonster houses.

[EconProf]

You are quite right Noob. # & quality of bathrooms plays a big part, as does size and quality of kitchen. Accordingly, fewer bedrooms in a house warrant higher P/Sq.ft.
Other considerations: Size of lot–small house on big lot raises P/Sq.ft. Single-story worth more than two story. This is a big factor in “bargain” prices P/Sq.ft. Temecula McMonster houses.

[EconProf]

You are quite right Noob. # & quality of bathrooms plays a big part, as does size and quality of kitchen. Accordingly, fewer bedrooms in a house warrant higher P/Sq.ft.
Other considerations: Size of lot–small house on big lot raises P/Sq.ft. Single-story worth more than two story. This is a big factor in “bargain” prices P/Sq.ft. Temecula McMonster houses.

[Author]

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