Posted on 11/16/2021 6:56:37 AM PST by karpov
I’ve come me to oppose Gov’t backed mortgages, that subsidize people who shouldn’t be enslaved by debt, nor those who can afford to get a regular mortgage.
The US residential real estate market floats on a deep Red Sea of debt.
Some countries prohibit debt for mortgages. Families work together, people save. Arc loading, they pay cash and own their home.
In a recession and even a depression, they own their home and can’t lose it to foreclosure.
2008, here we go again!
Housing bubble - and with this new insanity the federal government can assist with taking out more upscale neighborhoods..
Sell houses to people who can’t afford to keep up payments.
Use ‘equity’ excuese caused by rising inflation to encouraged owners to ‘take money out of house’...(borrow more than they can afford)
Lose house because payments can’t be made... Destroy the owners credit, destroy communities, and stick taxpayers with the losses.
We’ll need new stickers with Biden’s picture on it saying ‘I did this’... on homes with ‘Foreclosure’ signs on them.
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