4 ms·
> Why would a homeowner send 1-2 paychecks... Can't the asset holder - the homeowner in this case - get rid of the asset which stopped performing? Why such a s
by avmich 1y ago
> Why would a homeowner send 1-2 paychecks...
Can't the asset holder - the homeowner in this case - get rid of the asset which stopped performing? Why such a strange financial behavior? If the houses are financials - why not to deal with them as such?
- indymike 1y agoThat would be rational for the home owner, but for many losing money on the biggest investment they have is not really practical. Losing value on a percentage taxed asset is not really practical for govenrment. Also - the mortgage lender may not allow a sale at a lower than loan value price. The result is foreclosure, and even more loss in value.
- aprilthird2021 1y agoAllowing our cities to become unlivable, inhospitable, and overall crazy places to accommodate letting people have enormous gains on an asset they do barely any work to improve was not practical but we did it for many years and it's time to stop.
- indymike 1y ago> letting people have enormous gains on an asset they do barely any work to improve was not practical but we did it for many years and it's time to stop This makes little sense. In a democracy, it will be hard to get people to vote against their own best interest.