When will they learn? The government should quit tampering with the real estate market. Foreclosure moratoriums, home buyer credits, mortgage renegotiation … all have little benefit and huge taxpayer costs.
I said long ago that the government should just cut chase and let deadbeat homeowners live in their homes mortgage-free! Well, with the latest government ‘deed for lease’ program, the government has for all intents, fulfilled my prediction.
httpv://www.youtube.com/watch?v=rrRBYm1F9LM
Homes will always be unaffordable to the average person in high priced CA as long as government subsidize home owners in the form of mortgage tax deductions, and Fannie Mae bailouts. Remove the interest tax deduction and watch the prices correct 50%. This place a bottom on home prices and increase home ownership than further government meddling. The issue is affordability, not unemployment. Prices are still too high due to government tax policies and bad lending practices.
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Did we make the right choice last election? Did we make the right choice in passing these laws and motions?
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