po_folks

Ten Comments on Housing

One type of homeowner assistance I can be enthusiastic about would be extra federal tax rebates for real estate taxes paid...everyone eligible.

Housing Market Tracker - Homebuilders Criticized for Benefitting From Foreclosure Bill

One type of homeowner assistance I might be enthusiastic about would be extra federal tax rebates (credits) for real estate taxes paid. For everybody.

Chinese Credit Crunch Could End Commodities Run

Darn. Just when people thought it might be a good thing to sell the copper plumbing and replace it with PVC to make the next house payment...now this!

Bill Gross: If Housing Prices Decline Further, So Does the Economy

I do not understand how one "supports" home prices that are economically unsupportable. (Some local markets where housing price/income are way above trendline, I call unsupportable.)

Nor do I see any direct connection between diminished money market yields and bailout of the home loan industry. However, I do accept that in the end, in an interconnected economy, we all take a haircut (indirectly) when speculative bubbles pop. Which is why there needs to be re-regulation and sanctions for those who fueled it and profited.

Self interest is OK, incentives are OK, but blatant greed is antisocial and like insurance fraud, is not a "victimless crime".

Foreclosure-Proof Homeowners

To eventually get out of this mess intact and put this behind us, requires frugality, judgment, and good values on the part of all.

The delinquents mentioned here (both sides; lender/borrower) who seem incapable of such behavior should be considered antisocial enemies. Nevertheless, our courts should also be able to discern whether there are special circumstances that warrant leniency.

I am dismayed at the apparent inability of our justice system to unravel this mess and clear the way for the reckoning that must happen. The article also makes me less optimistic that we will avoid the "Japanese Disease" that has been their ruin for over a decade.

Please everyone, run, do not walk, away from a politician who promises "fairness, restitution, assistance, protection..." from this crisis.

People screwed up and overleveraged the system from top to bottom. Time to clear away the rubble and fix what's left standing.