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patientrenter
Participant“You can rent something very nice for 2k.” LOL. And you can rent something better than a cardboard box on the street for less than 1K.
There’s almost no recognition out there that the alternative to owning is not homelessness (for 99% of people), it’s called RENTING. Try it, foreclosees, you’ll find it very affordable, and dry, and warm.
Patient renter in OC
Participant“You can rent something very nice for 2k.” LOL. And you can rent something better than a cardboard box on the street for less than 1K.
There’s almost no recognition out there that the alternative to owning is not homelessness (for 99% of people), it’s called RENTING. Try it, foreclosees, you’ll find it very affordable, and dry, and warm.
Patient renter in OC
Participant“You can rent something very nice for 2k.” LOL. And you can rent something better than a cardboard box on the street for less than 1K.
There’s almost no recognition out there that the alternative to owning is not homelessness (for 99% of people), it’s called RENTING. Try it, foreclosees, you’ll find it very affordable, and dry, and warm.
Patient renter in OC
Participantdrunkle, we’ll have to disagree about which is more accurate: that we have the politicians that the voters deserve, or the ones that the CEOs deserve.
“the voters’ opinions may change as things get worse”
I agree and that was my point, except that I’d replace your “may” with “will”. And the polls are not telling the whole story on this. Already I’d say most voters support cuts in interest rates, and many here would say that’s a form of bailout. The word “bailout” has a negative connotation, so most people who support bailouts will deny they support anything that’s actually labeled a “bailout”.“homeowners are not, will not be the beneficiaries of any bailout plan”
Some will benefit, some won’t. For example, if the bailout is accomplished mostly by increasing inflation, then homeowners who are net savers will be hurt, whereas homeowners who are net borrowers (and this is the majority) will indeed benefit, other things being equal.Patient renter in OC
Participantdrunkle, we’ll have to disagree about which is more accurate: that we have the politicians that the voters deserve, or the ones that the CEOs deserve.
“the voters’ opinions may change as things get worse”
I agree and that was my point, except that I’d replace your “may” with “will”. And the polls are not telling the whole story on this. Already I’d say most voters support cuts in interest rates, and many here would say that’s a form of bailout. The word “bailout” has a negative connotation, so most people who support bailouts will deny they support anything that’s actually labeled a “bailout”.“homeowners are not, will not be the beneficiaries of any bailout plan”
Some will benefit, some won’t. For example, if the bailout is accomplished mostly by increasing inflation, then homeowners who are net savers will be hurt, whereas homeowners who are net borrowers (and this is the majority) will indeed benefit, other things being equal.Patient renter in OC
Participantdrunkle, we’ll have to disagree about which is more accurate: that we have the politicians that the voters deserve, or the ones that the CEOs deserve.
“the voters’ opinions may change as things get worse”
I agree and that was my point, except that I’d replace your “may” with “will”. And the polls are not telling the whole story on this. Already I’d say most voters support cuts in interest rates, and many here would say that’s a form of bailout. The word “bailout” has a negative connotation, so most people who support bailouts will deny they support anything that’s actually labeled a “bailout”.“homeowners are not, will not be the beneficiaries of any bailout plan”
Some will benefit, some won’t. For example, if the bailout is accomplished mostly by increasing inflation, then homeowners who are net savers will be hurt, whereas homeowners who are net borrowers (and this is the majority) will indeed benefit, other things being equal.Patient renter in OC
Participantdrunkle, we’ll have to disagree about which is more accurate: that we have the politicians that the voters deserve, or the ones that the CEOs deserve.
“the voters’ opinions may change as things get worse”
I agree and that was my point, except that I’d replace your “may” with “will”. And the polls are not telling the whole story on this. Already I’d say most voters support cuts in interest rates, and many here would say that’s a form of bailout. The word “bailout” has a negative connotation, so most people who support bailouts will deny they support anything that’s actually labeled a “bailout”.“homeowners are not, will not be the beneficiaries of any bailout plan”
Some will benefit, some won’t. For example, if the bailout is accomplished mostly by increasing inflation, then homeowners who are net savers will be hurt, whereas homeowners who are net borrowers (and this is the majority) will indeed benefit, other things being equal.Patient renter in OC
Participantdrunkle, we’ll have to disagree about which is more accurate: that we have the politicians that the voters deserve, or the ones that the CEOs deserve.
“the voters’ opinions may change as things get worse”
I agree and that was my point, except that I’d replace your “may” with “will”. And the polls are not telling the whole story on this. Already I’d say most voters support cuts in interest rates, and many here would say that’s a form of bailout. The word “bailout” has a negative connotation, so most people who support bailouts will deny they support anything that’s actually labeled a “bailout”.“homeowners are not, will not be the beneficiaries of any bailout plan”
Some will benefit, some won’t. For example, if the bailout is accomplished mostly by increasing inflation, then homeowners who are net savers will be hurt, whereas homeowners who are net borrowers (and this is the majority) will indeed benefit, other things being equal.Patient renter in OC
ParticipantNo one here should be surprised if this comes to pass, or some other bailout like it. Most voters own homes, and people who own things much prefer the market prices of what they own to go up, not down, even if it has other consequences down the road. Politicians will do whatever a predominant majority of voters want. It’s as simple as that.
Voters don’t support bailouts because they buy into the economic benefit arguments. Those arguments just provide a justification or cover for what they really want – immediate relief from the consequences of their irresponsibility.
Politicians and the rest of the political community (including people like Greenspan) don’t all buy into the economic benefit arguments of a bailout either. Ultimately, they don’t care about what bank CEOs or other bigwigs want either. They just want to do whatever it takes to remain powerful members of their community, and they will do whatever they think will keep them there. Ultimately, that means getting the support of a majority of voters, or getting support from a pol that gets that.
Bottom line: We as a country will get the quality of government reaction to this problem that the majority of voters want and deserve. So far, that’s even more depressing than I’d expected.
If and when price drops bite homeowners more deeply, the bailout plans will become stronger and, to many posters here, more outrageous. We can raise righteous anger at the obvious inequity, and possible economic inefficiency, but
we can’t really be surprised./end rant
Patient renter in OC
ParticipantNo one here should be surprised if this comes to pass, or some other bailout like it. Most voters own homes, and people who own things much prefer the market prices of what they own to go up, not down, even if it has other consequences down the road. Politicians will do whatever a predominant majority of voters want. It’s as simple as that.
Voters don’t support bailouts because they buy into the economic benefit arguments. Those arguments just provide a justification or cover for what they really want – immediate relief from the consequences of their irresponsibility.
Politicians and the rest of the political community (including people like Greenspan) don’t all buy into the economic benefit arguments of a bailout either. Ultimately, they don’t care about what bank CEOs or other bigwigs want either. They just want to do whatever it takes to remain powerful members of their community, and they will do whatever they think will keep them there. Ultimately, that means getting the support of a majority of voters, or getting support from a pol that gets that.
Bottom line: We as a country will get the quality of government reaction to this problem that the majority of voters want and deserve. So far, that’s even more depressing than I’d expected.
If and when price drops bite homeowners more deeply, the bailout plans will become stronger and, to many posters here, more outrageous. We can raise righteous anger at the obvious inequity, and possible economic inefficiency, but
we can’t really be surprised./end rant
Patient renter in OC
ParticipantNo one here should be surprised if this comes to pass, or some other bailout like it. Most voters own homes, and people who own things much prefer the market prices of what they own to go up, not down, even if it has other consequences down the road. Politicians will do whatever a predominant majority of voters want. It’s as simple as that.
Voters don’t support bailouts because they buy into the economic benefit arguments. Those arguments just provide a justification or cover for what they really want – immediate relief from the consequences of their irresponsibility.
Politicians and the rest of the political community (including people like Greenspan) don’t all buy into the economic benefit arguments of a bailout either. Ultimately, they don’t care about what bank CEOs or other bigwigs want either. They just want to do whatever it takes to remain powerful members of their community, and they will do whatever they think will keep them there. Ultimately, that means getting the support of a majority of voters, or getting support from a pol that gets that.
Bottom line: We as a country will get the quality of government reaction to this problem that the majority of voters want and deserve. So far, that’s even more depressing than I’d expected.
If and when price drops bite homeowners more deeply, the bailout plans will become stronger and, to many posters here, more outrageous. We can raise righteous anger at the obvious inequity, and possible economic inefficiency, but
we can’t really be surprised./end rant
Patient renter in OC
ParticipantNo one here should be surprised if this comes to pass, or some other bailout like it. Most voters own homes, and people who own things much prefer the market prices of what they own to go up, not down, even if it has other consequences down the road. Politicians will do whatever a predominant majority of voters want. It’s as simple as that.
Voters don’t support bailouts because they buy into the economic benefit arguments. Those arguments just provide a justification or cover for what they really want – immediate relief from the consequences of their irresponsibility.
Politicians and the rest of the political community (including people like Greenspan) don’t all buy into the economic benefit arguments of a bailout either. Ultimately, they don’t care about what bank CEOs or other bigwigs want either. They just want to do whatever it takes to remain powerful members of their community, and they will do whatever they think will keep them there. Ultimately, that means getting the support of a majority of voters, or getting support from a pol that gets that.
Bottom line: We as a country will get the quality of government reaction to this problem that the majority of voters want and deserve. So far, that’s even more depressing than I’d expected.
If and when price drops bite homeowners more deeply, the bailout plans will become stronger and, to many posters here, more outrageous. We can raise righteous anger at the obvious inequity, and possible economic inefficiency, but
we can’t really be surprised./end rant
Patient renter in OC
ParticipantNo one here should be surprised if this comes to pass, or some other bailout like it. Most voters own homes, and people who own things much prefer the market prices of what they own to go up, not down, even if it has other consequences down the road. Politicians will do whatever a predominant majority of voters want. It’s as simple as that.
Voters don’t support bailouts because they buy into the economic benefit arguments. Those arguments just provide a justification or cover for what they really want – immediate relief from the consequences of their irresponsibility.
Politicians and the rest of the political community (including people like Greenspan) don’t all buy into the economic benefit arguments of a bailout either. Ultimately, they don’t care about what bank CEOs or other bigwigs want either. They just want to do whatever it takes to remain powerful members of their community, and they will do whatever they think will keep them there. Ultimately, that means getting the support of a majority of voters, or getting support from a pol that gets that.
Bottom line: We as a country will get the quality of government reaction to this problem that the majority of voters want and deserve. So far, that’s even more depressing than I’d expected.
If and when price drops bite homeowners more deeply, the bailout plans will become stronger and, to many posters here, more outrageous. We can raise righteous anger at the obvious inequity, and possible economic inefficiency, but
we can’t really be surprised./end rant
Patient renter in OC
Participanthipmatt: “There are currently very minimal consequences for walking away from the home (home owner), and many of them can now be resolved easily (i hear) through a lawyer or other credit repair agency.”
I agree. If we’re both right, and the lenders learn the lesson from that which is now staring them in the face, won’t mortgage rates go through the roof unless the government guarantees repayment? I see very broad govt guarantees of repayment as the next really big step in this saga. That might stop price declines, as the market gets fed nearly unlimited amounts of risky new loans.
Patient renter in OC
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