Quote:
Originally Posted by casper
What I think is critical is allowing the mortgages to go out longer. Not stress testing those renewing if they shop their mortgagee around.
Yes, it is going to be a hit. But what is critical is ensuring people can stay in their homes.
It is going to be difficult for many. No question. Less money for discretionary items.
What I think is critical is ensuring people don't get pushed out of their homes.
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Why is it critical to make sure people stay in homes they can’t afford? Sell, move and downsize. So much government intervention has gone towards subverting capitalism that one has to wonder if they’ve broken it. By all means make sure they don’t end up on the street but making sure they have a hundred year mortgage to keep their McMansion isn’t the answer.