banks/mortgage companies giving people mortgages that never should have had them was the first problem in the real estate market, because the market was going up they thought no one would get hurt…but when it stopped going up subprime loans crashed.
Then people that lost jobs or had other setbacks started getting foreclosed on,all of that is to be expected, but people that have the money to pay a mortgage, but don’t for 2 years, then want to know how to ‘get it straight’ should know the answer, pay your mortgage and get it caught up,
If I bought a house for $250k, than later is worth $125k, I don’t think think the government “owes it to me” to pay the difference,and lets face it, it is the government (which means all taxpayers) that really end up getting hurt, because the banks, or many of them, are considered 'too big to fail"
As long as people are quick to walk away from mortgages, then the lenders will be hard to deal with, as they are now,I have many tenants that normally would have been buying a house, but can’t get financing because lenders are so quick to decline people for anything,until that changes, we will have a housing problem.
It makes me money, I buy houses cheap, and rent them out with people “waiting in line” to lease a nice house,but in the long run the bad housing market hurts our country, we have to get the housing market straightened out,it won’t happen overnight, but hopefully at some point it will start happening
Do I trust the big banks,no, if you knew how much money I lost in the S & P 500 (say big banks) in 2008 you would cry,believe me, I wanted to,