Tag: 'housing'
Sentiment on gov't forcing loan adjustment
"We can all sympathize with good folks who can't pay their bills. But as I've said repeatedly in my criticism of the mortgage entitlement mentality embraced by both parties in Washington, home ownership is not a civil right -- and neither is home retention. Artificially propping up the housing market will only result in more of the same costly borrow-spend-panic-repeat cycles that got us into this mess in the first place. Failing corporations need to fail. So do failing home borrowers. This is borrowing from frugal renter Peter to pay profligate Paul's home loan." -- Michelle Malkin, from article "ACORN and Obama -- together again"
Rewarding bad behavior will just breed more bad behavior. I have a hard time seeing how this will be helpful to anyone. Some say that it's a short-term unfairness that will stabilize us long term. I personally doubt this, as people will remember those that would have fallen but were then artificially propped up. And as in rock climbing, you can make a lot more risky moves knowing your on belay rather than free-climbing.

