Tuesday, March 25, 2008
How does this help??
Why is it helpful to put people into homes they cannot afford? How does it help end discrimination to collect racial data and base decisions on lending policies on that data? People are being foreclosed on all over the country because they are in homes they never could have afforded in the first place. The market value of homes is plummeting because these foreclosed homes are bringing those prices down. Our neighbors had their home on the market for a week before they were forced to change their mind; they could not get the profit they sought for a home they only recently purchased.
It is another case of the government adversely affecting the economy by placing market controls on the free market. This is not a ladder out of poverty, it is a trapdoor into worse poverty.