Obama Housing Bailout Blues

This is, again, the moral hazard writ large.

If you have a mortgage you can’t afford, you’re going to get relief. To every renter who has been responsible and waited and saved, you get nothing but more of your dream deferred. By artificially attempting to prop up housing prices, the market will not reset to it’s true value.

Waiting for home prices to become affordable again? Waiting for all the air to come out of the real estate bubble?

Obama’s got two words for you. T.S.

There is no incentive to do the right thing, and plenty to do wrong. That is the lesson of our time.

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One Response to Obama Housing Bailout Blues

  1. JD64 says:

    “Yes, there are other fundamental issues with our economy, but the housing market led us into this recession and the housing market will lead us out. It just won’t be solely at the hands of the government, it will be to some degree at the hands of the American people,” said TheGreatAmericanHousingRecovery.com. “Simply put, the issue is fundamental supply and demand. There are just too many homes for sale on the market. If we can get Americans to pull their homes for sale off the market then we immediately alter the supply side of the model.”

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