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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Crimson Ghost who wrote (31745)5/22/2005 7:35:58 PM
From: Mike JohnstonRead Replies (5) of 306849
 
The 25% drop that you are expecting, would have devastating consequences for the economy and millions of leveraged households.

Do you think that Congress would step in and bail those homeowners out ? A few things come to mind, for example tax credits, 100% loss write offs, 0% interest loans, perhaps grants or maybe even a "homeownership insurance" program with direct payments to homeowners facing foreclosure.

For example here in New Jersey, there is a direct subsidy from the State in the form of $600 property tax rebates for homeowners, it is sent out once a year (retirees get a check for $1200).

The "bailout" mindset is pretty common in this country especially among politicians, some investors and monetary authorities.
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