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To: John McCarthy who wrote (68377)8/31/2007 5:36:01 PM
From: John McCarthy  Read Replies (2) | Respond to of 116555
 
A follow-up MATH question ....

Note:I STINK in algebra, calculus, etc ....

But - prior to the MELT-DOWN and in the ABSTRACT

(a) If there was Universe N of total US Home Buyers
in the United States

(b) And - from 2005 and 2006 - we already sold-in
to MARGINAL BUYERS a total 6,000,000 homes
(use your own number)

(c) WHOSE LEFT in Univere N - to buy these 30% off
discounted homes ....

(1) Qualified buyers CAN'T buy (I assume) because they
are already in THEIR homes and would take a drubbing
if they tried to sell THEIR house to get one of
these 30% discount houses

(2) They could be sold to the remaining EVEN LESS QUAILIFED
marginal buyer - but that just seems to MOVE the problem
around

(3) So - whose gonna buy these homes?

regards,
John McCarthy



To: John McCarthy who wrote (68377)8/31/2007 7:20:32 PM
From: Incitatus  Read Replies (2) | Respond to of 116555
 
My point is that it's possible to create bailouts where the homeowner benefits but the lender still gets porked. Those are the only kinds of bailouts that I would support. Although I've been renting since 2004, waiting to repurchase, and I'd be "hurt" by a homeowner bailout, I'd support it as long as ONLY the little guy is helped.

But no, it will never happen. Bush, Congress and Wall Street only care about the uber-rich.


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