“repeating old tired rhetoric”.
This is exactly what you are repeating. As you were not taught in Socialism 101 for a transaction to occur, there must be a buyer and seller.
If you paid 100K for your home and the value went down to 85K you have not lost anything. You would only lose if you sold the house for less than you paid for it.
Fear mongering is what the Dems do to get votes. It won’t work here on FR.....
I could care less about people who bought overpriced homes with loans they never should have qualified for. Let that isolated part of the housing marketplace play out as it should.
The over inflated housing prices in those limited areas need to crash back down to earth. It isn't a nation wide "crisis" however. And no way does it effect the entire finacial marketplace, other than those who are trying to scam something.
Those that didn't get in over their head, but overpaid, well too bad. They are going to have to wait a good 25 years to break even if they don't wize up and pay off the place as fast as possible to mitigate their circumstances.
As I said,
Everything is getting wrapped up in a big ball and called "bail out".
It has to be unraveled and each issue dealt with separately.