Quoting [EMAIL PROTECTED]:
Dean is an asset deflationist.
I am too, as long as they're not my assets.
I like own-to-rent, though I wonder about practicalities --
the legal issue of dealing with contract/property/uniform commercial code
law, and the administrative one of how everything gets set up.
One important angle is the need to minimize the time houses are vacant as
a result of foreclosure. You get bad neighborhood ripple effects, further
problems.
I think the way to solve that problem is simply to stop foreclosures
altogether. Have a moratorium on foreclosures, like in 26 states in
the Great Depression (and upheld by the Supreme Court), and figure out
some way to write down the value of the mortgages to "non-bubble"
prices. In the meantime, no "bad neighborhood ripple effects".
Fred
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