Quote:
Originally posted by SlaveNoMore
The more I read about this "bailout" - I don't get it.
The qualifications are so limited, it's only going to affect about 100,000 loans. A drop in the bucket. And most aren't even what is regarded as sub-prime. So why do anything at all?
The whole concept is deplorable. By propping up artificially high RE values - ostensibly so homeowners can continue the "American Dream" of owning a home - it's keeping countless others on the outside of the American Dream of owning a home.
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Well, its not a real plan at all. It's just a photo-op. In my own craven little view, I'd let the market implode. RE is all about location anyway, so none of the people buying wisely would be hurt all that much, which is kind of how a market is supposed to work, no?
