If the housing market had as much attention as the auto industry, wouldn't everything else fall into place?
I'm just curious to YOUR OPINION on how the government prioritizes.
People need a place to call home. They need job security. Then they need their own vehicle. After all there are buses and taxi's and other means of transportation.
Everyone is looking for a "bail out," however, the root cause of the debacle we are experiencing stems from the real estate frenzie and the ability to get mortgages whether one could afford a home or not. There were loans for everyone, and people took advantage of them...Did most people understand what would occur once their mortgage "ballooned" into a payment that was probably going to be double of what their current income could maintain? Probably not. After all, if the standard 3% raise was calculated into the equation, that 3% for most people was not going to compensate for a mortgage payment that was possibly going to double. C'est la vie...the past is over, so how to deal with it? I'm not even going to attempt, however, I do have a few thoughts.
1. People need homes and a place to live. It's unbelievable to me that banks would rather place people in a foreclosure situation and lose millions of dollars letting all the people that were duped into a situation where they were going to default in their payments than to work with them and at least try and adjust their rates so that they could continue to live in their homes and the banks would still get paid. Let's see, cost the banks money or continue to get revenue [the banks]. After all, most of the homes that the banks took over instead of working with the owners are without most of the contents.
2. If families don't have a home, have lost their jobs due to this sad state of Economy...need I say more?
3. The auto industry. If people don't have jobs as a result of this sad state of affairs, why do they need a NEW vehicle? There are plenty of used cars around. Never the less, how can they afford one. No job, no home, no need for a car. We're bailing out the auto industry, how about mandating the banks to work with the home owners? Wouldn't that make more sense?
Where do the priorities lie for American citizens. Why not go back to the root cause? Why not make an educated change to help not only families and home owners, keep the banks in some semblance of maintaining mortgages, alleviate the plethora of homes that are no longer with electric or maintenance, than to allow the consumers to end up living in this utter American debacle?
Where is the common sense? Right. Those that run this country are making tons of money and they personally (for the most part) are not affected.
Without all walks of education and all types of skills, the USA as we know it will sink into a big hole (or perhaps its close to being there). It's a shame that those we voted into office to protect our best interests have lost site on the various individuals who make our "world go round".
In my opinion, we have lost the site that makes us proud to be United States citizens. We have lost site on making America a place for the working family. We have lost site on what is important in America which is those of us who live here, pay taxes here, raise families here, the troops who fight to save us and keep us free.
WHAT SAY YOU?
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