I am really getting fed up with this idea that I am going to have to subsidize someone’s mortgage. Why should I be forced to help defray the cost of someone elses property that is more expensive than mine? Let the normal market conditions correct itself without Government interference. It is absolutely not right that we should prop up the prices of real estate artificially. If you can’t pay for what you bought, give it up. Besides, the “bailout” is NOT going to work anyway. It’s all a sham and a lie anyway. I say we go ahead and rip the bandage off, and get the pain over with ASAP. We don’t have the money to fund this bailout anymore than we have the money for the bank bailouts and the automotive bailouts. What the hell happened to personal responsibility for one’s actions?
Below is a great video that illustrates just what is happening. What do you think is fair?
How can anyone assume that falling real estate prices is bad for all? I have known that the market was over-inflated and have been saving and waiting for a correction, and now the government wants to steal my money to allow another person who hasn’t worked as hard as I have (2-3 jobs over the past 10 years), or saved as much (~50% after tax) to have a better home than I do. Where is the justice? This country’s continuing subsidization of bad choices and penalization of hard work will lead to its destruction.