Thursday, February 19, 2009

The housing plan--- I still don't think we get it

Is the government's plan only looking one step ahead? Hoping for Hyper inflation? How do you feel about paying other people's mortgage?


2 comments:

John.....just John said...

I don't like paying other peoples' mortgages. I'm still serious that there could be a legitimate case for a discrimination law suit against the Federal gov't.

Markus Arelius said...

I feel pretty muich the same way about paying someone else's mortgage as I do about playing someone else's gambling debts, or reimbursing them the money they lost because they got their stock bets all wrong, or because they decided not to read a 6th grade reading comprehensive level mortgage contract before they signed it, or because they simply didn't think it was "cool" to pay attention in high school math class.

Yeah. I think that pretty much describes how I "feel" about it.

Politicians and media make it sound like it would be armaggedon if these foreclosures aren't stopped.

I believe there's sufficient evidence (it's called "Japan") to suggest that prolonging the foreclosure process only slows the housing market correction that must, and eventually will, have to happen.