How in the world can we Americans "buy" the current correction in the Real Estate industry, or the banking industry? This is not a trickle down philosophy; it is funnel up.
Millions of good American families are losing their homes...their homes, with all that they have hold dear. Children are missing out on their school activities and education because of the necessity to move out of the district.
Our government's solution is to create a false interest rate for NEW HOME BUYERS. While the original homeowners are saddled with enormous debt and 11% mortgages; these new buyers will have an advantage at 4% of buying their homes.
We have it all wrong! Interest rates do not need to be lowered. They need to be raised so that those who have saved and have money will have the incentive to buy and invest. Give the money to those already in debt and it will not spur the economy. These are historically people who cannot handle money. Why give them more?
When I buy, I pay cash. If I run out of cash; I don't buy. What a unique idea! Our government feels as if the ones who charge everything get a break on interest rates and taxes it will stimulate the economy! Say what?? They will charge more and our country will go deeper into debt and depression. Our country is in serious dementia. How can we save it?
We have elected a man who promised change and is now doing business the old way. How did this happen? I supported and voted for President Obama. Now I hear and read about business as usual in Washington. We have a crook running the treasury department. That is, if I were to do what he did with my taxes it would be called a crime and I would be fined. Of course, we NEED him. Sure we do he knows what to look for...someone like himself! I suspect putting the crooks in charge has a certain intelligence to it ...."It is the trickle up theory."
Realtor/Author and angry American citizen. My book "Realtors Are Real People" is a preamble to our present unhealthy situation.