Favoring Home Financers
Why should people who rent and people who thought that no down payment neg-amortization liar loans were not for them, subsidize people who bought real estate through iffy loans? Why is the government jumping in to favor one group at the expense of others?
Calling them “homeowners” is nice and wells up a reserve of emotion, but many purchasers were real estate speculators hoping to make a big return, others were buying more house than they needed or wanted because they thought that appreciation would give them out sized returns, others were foolish.
Should the non-foolish pay for the mistakes of the foolish? Should the renter pay for the loss of a real estate speculator? Should the prudent pay for the loss of the imprudent?