Barney Frank hear this- the housing market will stop collapsing when you quit artificially inflating prices! (Well, maybe not now that your poor poli

Barney Frank hear this- the housing market will stop collapsing when you quit artificially inflating prices! (Well, maybe not now that your poor policies have lead us into a complete economic crisis) Regardless---


If I had unlimited amounts of disposable income, I would do everything in my power to get the following point across. “B Frank- The housing market will stop collapsing when you quit artificially inflating prices!” In fact, there would not even be a collapse if you didn’t push policies that artificially inflated prices to begin with! I would pay for planes to fly over Franks house with banners expressing my point, take out full page spreads in the NY Times, the Washington Post, and the Wall Street Journal. In short I would make it my mission for the jokers in Washington to understand this very simple point. Moreover, that by giving people the ability to purchase they made it irresponsible to purchase for a whole group of American’s that could not; and possibly still cannot responsibly afford a decent home in many areas of the country. Moreover, by passing legislation and promoting policy that “stalls foreclosures” and artificially props up prices they are making another mistake.

First, Mr. Barney Frank along with some of his colleagues thought it would be a good idea if everyone in America owned a home. As a result they put into motion a chain of events that led to the sub-prime melt down, the great housing bubble, and possibly the great depression II. On the surface the idea that everyone should own their home is a great idea, however, one does not have to look too far ahead to see that it is not a good idea to borrow money to people that cannot manage it, to allow someone to take a negative amortization loan, to borrow $500,000 to someone that cannot save $5000 to pay for closing costs. Now, Franks incredible genius thinks that the only way out of the mess is to artificially keep prices high and reward those that made horrible decisions.

Do not get me wrong, as an agent there is no better feeling than helping someone to purchase their dream home. However, the feeling is much better if you know that they can afford it. The best case scenario from these policies that artificially inflate prices is that a new round of buyers will jump in and pay inflated prices , prices that can only be supported artificially. Beyond the fact that if this works it will simply drag this mess on indefinitely, if he is successful, many responsible, hardworking people, that by any standard should be able to purchase, will not be able to and will be left holding the bag. Worse yet, this group will end up subsidizing the people that Mr. Barney Frank’s irrational ideas support.

Mr. Frank a proponent of apparent reckless loan modification proposes principle reduction and other methods meant to artificially keep prices high. Ironic, the purpose of Mr. Barney Frank and his cohorts was to make the dream of homeownership possible; however, it is actually stripping the dream from the most deserving people. Moreover, it is unforgivable that he has failed to take note of his past failures and is asking those that his policies have hurt the worst to pay for his mistakes through their tax dollars. He has essentially caused the dream of responsible homeownership to disappear for this group and he continues to beat them over the head as he fights for the preservation of his failed experiment of homeownership for all, well most, ummm well, at least those that have not earned it.