http://blog.heritage.org/2008/04/02/common-sense-on-housing/ Fri, 10 Feb 2012 22:29:33 +0000 hourly 1 http://wordpress.org/?v=3.3 http://blog.heritage.org/2008/04/02/common-sense-on-housing/#comment-7273 Conservative Research Sites : American Objective Mon, 20 Oct 2008 19:30:49 +0000 http://www.foundry.org/2008/04/02/common-sense-on-housing/#comment-7273 [...] Heritage Institute [...] [...] Heritage Institute [...]

]]> http://blog.heritage.org/2008/04/02/common-sense-on-housing/#comment-7272 Research Links : American Objective Mon, 20 Oct 2008 18:55:47 +0000 http://www.foundry.org/2008/04/02/common-sense-on-housing/#comment-7272 [...] Heritage Institute [...] [...] Heritage Institute [...]

]]> http://blog.heritage.org/2008/04/02/common-sense-on-housing/#comment-2603 Angel Sanchez, State Wed, 16 Jul 2008 12:51:25 +0000 http://www.foundry.org/2008/04/02/common-sense-on-housing/#comment-2603 I think a solution to the housing crisis is the exact opposite of how we got here in the first place. Prices went up way to quickly; well to make the market more solvent here is my proposal. Right now the median price for a home in Brooklyn, NY is 525,000. What we need is someone who would be willing to take the plunge and sell it instead for 325,000 instead. The banks will be more apt to give a mortage of that amount. The mortage process is now more strigent since, (I just got a mortgage and it took about 4mths to close.) so people who are getting mortgages now have the funds to pay the note. Yes people will gripe how the value of their house will drop but they have to stop being "penny smart and dollar foolish". Prices will go back up but at least this time if it can be managed with responsible practices this situation can be avoided again. Ultimately we are in this situation just for two reasons, first of all GREED; secondly a lack of common sense not just in everyday thinking but also in business practices all due to the first reason I stated. I think a solution to the housing crisis is the exact opposite of how we got here in the first place. Prices went up way to quickly; well to make the market more solvent here is my proposal. Right now the median price for a home in Brooklyn, NY is 525,000. What we need is someone who would be willing to take the plunge and sell it instead for 325,000 instead. The banks will be more apt to give a mortage of that amount. The mortage process is now more strigent since, (I just got a mortgage and it took about 4mths to close.) so people who are getting mortgages now have the funds to pay the note. Yes people will gripe how the value of their house will drop but they have to stop being "penny smart and dollar foolish". Prices will go back up but at least this time if it can be managed with responsible practices this situation can be avoided again. Ultimately we are in this situation just for two reasons, first of all GREED; secondly a lack of common sense not just in everyday thinking but also in business practices all due to the first reason I stated.

]]> http://blog.heritage.org/2008/04/02/common-sense-on-housing/#comment-1621 Jeff Leeds, Pace Fl Fri, 20 Jun 2008 23:15:15 +0000 http://www.foundry.org/2008/04/02/common-sense-on-housing/#comment-1621 The credit crisis goes alot further than mortgages,credit card debt is rediculous, all tax returns for the prior 3 to 4 years should be added to all credit reports, this way the banks and credit card companies that approve credit to individuals would know how much an individual earns, that would make these financial institutions liable for giving credit to people that cant repay their debt. simple math, If you earn $30,000 annually, you should not have $30,000 worth of revolving credit available! The credit crisis goes alot further than mortgages,credit card debt is rediculous, all tax returns for the prior 3 to 4 years should be added to all credit reports, this way the banks and credit card companies that approve credit to individuals would know how much an individual earns, that would make these financial institutions liable for giving credit to people that cant repay their debt. simple math, If you earn $30,000 annually, you should not have $30,000 worth of revolving credit available!

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