Kathleen Pender: How mortgage-rate freezes could go wrong

San Francisco Chronicle ^ | 12/6/7 | Kathleen Pender

[olivia3boys]

Yeah, but I don’t think I’m in a bubble area. I’m in the East Bay of the San Francisco Bay Area, and home prices are still going up and up and up.

I was kinda hoping for a little “correction” so I could buy in the neighboring city with a better school district. This bailout, I think, will prevent that little correction.

So I’ll continue sending my children to private school. It’s a choice between public school and a big mortgage (and bigger house) or private school and a small mortgage (and smaller house).

[HereInTheHeartland]

“I’m in the East Bay of the San Francisco Bay Area”

I lived in SF in the late 80’s.
I’m surprised to hear that prices are still increasing in the East Bay.
My wife and I look back and wish we would have bought something there in the late 80’s.

Housing prices are not going up in many areas, most of the bubble areas have come down.

[jusduat]

This is the really scarry thing for those of us who are older. There’s just so much of that money that could be taxed much MORE! for the people/chilren ya know!

if they let us have it at all.

[Snoopers-868th]

This is the really scarry thing for those of us who are older. There’s just so much of that money that could be taxed much MORE! for the people/chilren ya know!

if they let us have it at all.

With age comes something called wisdom. Even young conservatives misread the power of the pen and proposals that pull the rug out from under working Americans. What is that saying: What goes around--comes around? And it is true!

[Age of Reason]

we just need to need keep something stupid from happening

Two stupids don't make a smart.

[I got the rope]

not here.

[ProtectOurFreedom]

We need men and women that could match the Founding Fathers for intellect and a commitment to small, nonintrusive government. Instead we get pea-brains that pander with huge spending programs.

[JasonC]

Prices are not "already down". Only 20% of the population can afford the mortgage payment on 50% of the houses in the country.

Personally, I was in the market for a new house in Arizona, but fully expected to have to wait a year or two for prices to return to some semblance of reality. Now I am not. My savings will be elsewhere - and mostly abroad...