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Maybe the government can raise rates and offer some kind of refund to people who bought their first house in the last year? Otherwise, the number of people in
by jbay808 6y ago
Maybe the government can raise rates and offer some kind of refund to people who bought their first house in the last year?
Otherwise, the number of people in that "put their life savings as a downpayment on an overpriced house" category is only going to grow, making the problem worse when the collapse eventually happens.
- harambae 6y ago>offer some kind of refund to people who bought their first house in the last year I think we run into real problems in America trying to protect people from the consequences of their own bad decision making. In addition to being deeply patronising, it eliminates so many of the normal incentives to be responsible and pushes up risk appetite across the board. If individuals make poor investments (whether on a house or gamestop otm call options) they'll learn their lesson and move on. There's enough of a safety net in America to ensure no one truly goes hungry from bad luck (and before you point to homelessness- that's a complicated issue intertwined with drug addiction, mental illness and in some cases a free lifestyle choice)
- jbay808 6y agoI agree, but at the moment, it seems that same desire to protect them results in preferring a policy that drives prices ever upward. This would be a less destructive compromise.