Fred writes: >> 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".
Seems awfully unfair to the working class young couple who have been renting, saving money for a downpayment, and waiting for the bubble to burst so they can afford to buy a house. Why benefit the speculators who put no money down and took out adjustable mortgages in the hope they could flip before the market ran out of greater fools? David Shemano _______________________________________________ pen-l mailing list pen-l@lists.csuchico.edu https://lists.csuchico.edu/mailman/listinfo/pen-l
