Information Overload
I don’t know about you all, but my head is spinning. Good bailout, bad bailout, your fault, my fault, their fault…
Status of the financial markets is important to real estate. Clearly if there is no credit, then there are no loans, which means no buyers, and sellers can’t sell. As such, I have been watching and reading, and reading and watching about all of the happenings in the mortgage world.
Enough. My head hurts.
So…I decided that I have to wait until my brain catches up with the information being thrown at me left and right before I blog about the status of the mortgage markets.
I just want to leave you with a link to Matt Heaton’s post “Who could have seen this coming?”
(c) Copyright, 2008. Melina Tomson, All Rights Reserved (ie…be nice and create your own content. Don’t steal mine…)
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September 25th, 2008 at 12:27 am
My question about the bailout is this. What’s the plan to pay for it? My children have no credit and I don’t believe that they should have to pay one red cent for ours. Our politicians need to grow up and stop thinking that they are playing with monopoly money. Give me that federal budget for one afternoon and I bet I could find tens of billions of dollars to cut.
September 25th, 2008 at 9:31 am
Salem Man, that is at the heart of the debate. If there were only a one time bailout of $700B, and there were $200M taxpayers, then it would $3500 per tax payer. The problem is, it is going to cost more than $700B, and many people file, but don’t pay any taxes.
There have been massive campaigns to call congress and encourage them to not accept this bailout plan. As of yesterday it was 10-1 AGAINST the bailout plan. American’s are not happy about it and are letting Congress know.
$3500 is a nice vacation for someone. Not sure that I want to give up my vacation and work more so that someone else can buy a house they can’t afford.