With all the housing mess making the news it seems that most anything that can be said has already been said. The problem is that the Federal Government keeps making the news with their take on how Big Brother can fix things so more in fact keeps getting written.
But here's my take. I say it took the Government too long to step in: they shoulda stopped all this nonsense years ago. How's that? They let home prices get too high. That's right: too high.
Both the Senate and the House have versions whereby you and me pitch in to buy foreclosed houses that aren't selling, paint them or whatever and then magically sell them to the public. I guess Big Brother has a better Listing Agent. What our elected officials are attempting to do is stop home prices from falling further by buying them from troubled lenders who want some of their money back. Let's swoop in with $400 billion and buy all these homes to prop up the prices. Artificially, of course, but propped up nonetheless. But the cows left the barn a few years ago. Big Brother shoulda stopped housing prices from going up so high in the first place, that way they wouldn't have fallen so far. Doesn't that make sense?