Gerhard Fiedler wrote:
> peter green wrote:
>
>   
>>> Why is this bad? It doesn't matter much for all who have a house and
>>> no or only reasonable debt. It is good for all who want to buy a
>>> house.
>>>       
>> It will be good for them once the market bottoms out but until it does
>> morgage lenders are going to be pretty cautious making life difficult
>> for buyers who don't have a lot of cash one hand (which afaict most
>> buyers don't).
>>     
>
> I know it's kind of a revolutionary approach (at least, so it seems, in
> the USA), but how about saving up some money /before/ buying something?
> That's a real possibility :) Of course the gratification isn't instant
> and takes a while, and even some effort (you need to learn to appreciate
> not owing money), and the neighbors can't see why you feel good, but it
> might be worth a thought or two.
>   

There are a small minority of us over here who'd love to see this idea 
catch on again, someday!  Thanks for reiterating it, Gerard!!

> The way some people put loans on their houses is like gambling, nothing
> different. Bailing out those loans is not much different from having a
> government stand at the exit of major casinos in LV, where people can
> get back what they just lost inside. Most people would find this absurd,
> but it's really not any different.
>   

Amen.  :-)  Don't forget that you can take that one step further... 
since "the government" is really made up of money from everyone, the 
reality is... it's the people who DID NOT GAMBLE on their place of 
residence standing at the casino exit handing the idiots who did... the 
money they saved.

Completely ludicrous when you look at it that way...

Nate
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