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June 15th, 2007

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10:46 am - Parental pride
We need a 'Last Chance Mortgage' fund

My dad was a guest commentator on American Public Media's Marketplace yesterday. He has been working on this idea for many months, and finally wrote up an article about it. Marketplace liked it, but... he had to reduce it from two thousand words down to the two hundred in this piece. I think it turned out well. Everyone should mail a link about it to their friends so it gains in popularity. Because, clearly, the 8.1 million regular listeners are not enough.

A nice Father's Day gift, if I could take any credit.
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Date:June 16th, 2007 03:45 pm (UTC)
A neat idea. However, I have to say I agree more with this commenter in the confessional box on the side:
I continually hear stories regarding the weak housing market and questions in regard to what it will take to "turn it around." Instead of focusing so much on what can be done to prop up these incredibly high home prices (by any historical standard), which is what I equate to "turn it around", how about some focus on those of us who have chosen not to buy in to the hysteria, have been patient renters waiting on the sidelines, and want to see the market take its course. In other words, why should the focus be on supporting prices that are out of reach for the vast majority of people in many cities? What is wrong with prices dropping and affordability returning so those of us on the sidelines aren't forced to get the same toxic loans that started this mess? Finally, let me say that the thought of some of my tax dollars, that not once in my life have benefited from the mortgage interest write-off, will go to bail out somebody that bet on appreciation and lost is unacceptable.

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