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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: Kenneth E. Phillipps who wrote (59904)2/23/2009 1:34:59 PM
From: TimF3 Recommendations  Read Replies (1) of 224749
 
Which means you’re spending $1,000 in taxes to head of the loss of $20,000 on the value of your house. These days, that doesn’t seem like such a bad investment.

Its not an investment, its price manipulation. And its only short term manipulation, since many of the restructured loans will fail anyway.

To the extent you succeed in artificially inflating the price, you just keep the market from clearing. We need to get the real estate market functioning again, to do that you have to let prices fall to the point where people will want to buy.
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