To who? Why Big Brother of course. How many people will freely give up their property to Big Brother in exchange for lower rent payments versus mortgage? Of course, then, when Big Brother becomes your landlord, he is responsible for maintaining your property and putting restrictions on what you can or can't do there.. and so it goes...
They don’t own their homes, Barry....
If they owned them, they wouldn’t have any payments...
Indeed. Hope nobody wants to smoke in their *own* houses, or keep their firearms there either! And as for that thermostat.....
Oh wait that's no problem they will just do what they always do and raise taxes on the remaining property owners.
Unfortunately, if you are underwater with your mortgage, you are already renting. This would just formalize what is already happening and eventually allow the government to move the property.
Of course, in the short term, we could just foreclose on everyone and have blighted cities and towns with empty crack houses, whilst the population lives in tent cities.
We need econ development, like drilling and manufacturing. But we as long as we dont help the economy we will have this problem.
but maybe i want to rent out that house there and can afford the rent. so i’ll be kpt out to keep the other guy in?
ROTFLOL! Big Brother won't maintain anything.
“To who? Why Big Brother of course. How many people will freely give up their property to Big Brother in exchange for lower rent payments versus mortgage? Of course, then, when Big Brother becomes your landlord, he is responsible for maintaining your property and putting restrictions on what you can or can’t do there.. and so it goes...”
You forgot to add the bonus. The mortgage company that holds the note, and all associated stockholders will get zip.