I've come up with a radical scheme that could possibly work to end the housing crisis:
1) People that can't or won't pay their mortgage lose the house.
2) The banks take the house and sell it to people who can afford it.
There are a few flaws:
1) It doesn't require massive amounts of government money.
2) It doesn't protect people from their mistakes.
3) It doesn't punish responsible people who are patiently waiting for houses to become affordable.
4) It could result in the banks that helped create this mess failing.
In spite of these issues, I believe we should give it a try.
That's just crazy talk.
2 comments:
Except that it fails to punish the Democrats who pressured banks into offering mortgages to people who patently could not afford them.
Those are features, not flaws.
Post a Comment