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What Would Wake up The Housing Market?
By Andy | January 31, 2009
It’s not a big secrete. The fed has been stimulating the economy for years. If what they are doing is not working right now we need to try something else. The banks have screw up so badly we have to bail them out. If they are getting billions of dollars handed to them by our government and paid for by Joe tax payer. Why isn’t our government requiring a detailed account of where the money is being spent and why isn’t it being spent where it will stimulate the economy? There has to be relief for the tax payers to get the economy moving.
Why don’t we require a 3.5% interest rate max on all new home loans and new credit charges for a 3 year period. People will refinance and consolidate debt. People will start buying homes because more people will qualify. Have stated income loans but restrict the loan to value. If a person has saved $80,000 (20% of $400,000 sales price) to use as a down payment they are vested in their home and are less likely to walk from a property if the value decreases. At the end of the three year period everyone including the banks should be in a much better financial position.
Oh and one more thing. If a company is not run well its CEO should be fired not given a bonus. As a tax payer I am tired of bailing out companies.
Topics: Real Estate |
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January 31st, 2009 at 12:29 am
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