The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: MulhollandDrive who wrote (166934)	11/24/2008 4:57:55 PM
From: Smiling Bob	Read Replies (3) of 306849

That there were probably several million homes that were sold to people who had no business buying a home, they should’ve continued as renters. If that is the case, why does it make sense to say that well, now that they are an owner of that home, we ought to modify their mortgage so that they can stay in it? ---- This is what I've been saying for some time will be the problem that needs to be faced There's little choice but to make these people into renters again. The least tumultuous and least costly path is to allow them to stay in the home and maintain the home and lose x% of future equity gains. It's either that or deal with a glut of abandoned homes, continuous bailouts, and millions of homeless people. It's a big problem that's not going away and needs to be dealt with in big and innovative ways.

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