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?


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.