tag:blogger.com,1999:blog-823719196374898491.post2618277966615735816..comments2023-12-19T07:29:42.437-06:00Comments on Dedicated Tenther: Better Headline: People Who Received Mortgage Mods Still High Mortgage RisksDedicated Tentherhttp://www.blogger.com/profile/02169003228002700000noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-823719196374898491.post-59235818443568886232012-11-06T19:32:36.506-06:002012-11-06T19:32:36.506-06:00"but the point of the program wasn't real..."but the point of the program wasn't really to save anyone from being foreclosed upon as much as it was a way of artificially tinkering with the market to move home prices upwards again" you are right tsrblke. But I don't think that the housing market would likely be in worse shape!mortgage serviceshttp://loantable.posterous.com/services-offered-when-borrowing-money-from-monoreply@blogger.comtag:blogger.com,1999:blog-823719196374898491.post-78101253362231804022012-06-21T16:17:05.514-05:002012-06-21T16:17:05.514-05:00Well I was flippant and short in my reply. "...Well I was flippant and short in my reply. "Worse off" is of course a vague statement. What more properly should have been said was "housing prices would have been lower had they not started this program." That's fairly undeniable. That's probably not "worse off" if you're speaking in terms of "stability" (but I was trying to get to my point in few words and speaking about price.)<br />I agree on the other points.<br />Listen a home is an investment, and like most investments it's subject to ups, downs, and occasionally lefts and rights. However the idiots in politics have sold us a different dream, of ever increasing house prices meaning you don't just own a home "you're creating value." (which, as proven recently, is a total crock of bull.) I remember when I started renting, and my friends said "flushing money down the toliet." Well they just sold a Condo at a 40+K loss (although they weren't underwater) (and I've had 0 maintance, can't say that for them, the 40k was just in price differences.)tsrblkehttp://www.twitter.com/tsrblkenoreply@blogger.comtag:blogger.com,1999:blog-823719196374898491.post-20314651897053575212012-06-21T16:09:20.317-05:002012-06-21T16:09:20.317-05:00You said, "The housing market would likely be...You said, "The housing market would likely be in worse shape they hadn't instituted this program." I respectfully disagree. The news just came out (yesterday? today?) that the housing market has shat itself again- precisely because it wasn't allowed to correct.<br /><br />You're right about the goal, of course- recreate the bubble. But, as with so many Liberal plans, it merely substituted fake relief now for great pain later.<br /><br />As you allude, if the market had been allowed to self-correct, responsible people who'd been saving up for a house would be much better off today.Dedicated Tentherhttps://www.blogger.com/profile/02169003228002700000noreply@blogger.comtag:blogger.com,1999:blog-823719196374898491.post-29735135113650478952012-06-21T15:57:00.312-05:002012-06-21T15:57:00.312-05:00Yeah, but the point of the the program wasn't ...Yeah, but the point of the the program wasn't really to save anyone from being forclosed upon as much as it was a way of artificially tinkering with the market to move home prices updwards again (i.e. effectively create another housing bubble.) The housing market would likely be in worse shape they hadn't instituted this program.<br />Of course that's not a defense of the program either, the market should have been allowed correct itself and housing prices fall. Once again, government chose a favored class (those already in houses) throwing those of us who rented to collect money to buy a house under the bus.tsrblkehttp://www.twitter.com/tsrblkenoreply@blogger.com