housing stimulus: Why not just pay off all the mortgages? (Numbers Edited!)
- 02/09/09 01:37 AM
(Note: My first post I had the numbers wrong - Blogging too early again!) When you see news story after news story about the stimulus package being debated right now - a little perspective comes to mind. If Housing was truly the issue here, then why not just pay off a portion of every mortgage in America? According to this site, As of 1999 there was about 6 Trillion in Mortgage debt outstanding in the US. I assume it is around 8-9 Trillion today. If we are considering a $900+ Billion stimulus - why not just pay off a portion of the debt? … (5 comments)
housing stimulus: A 10% solution to the housing market
- 02/05/09 07:44 AM
Today the senate approved an addition to the stimulus package that will give buyers up to $15,000 tax credit if they purchase within one year. This is a very interesting concept and if marketed correctly will help to stabilize housing. The problem we have today is not that there is a lack of buyers - it is there is a lack of confidence. Buyers are asking the age old question - what if the market goes down? But this provision in the stimulus package is the answer to that question. Buy purchasing this year, there will be a built-in 10% price stabilizer. If … (2 comments)
(Note: My first post I had the numbers wrong - Blogging too early again!) When you see news story after news story about the stimulus package being debated right now - a little perspective comes to mind. If Housing was truly the issue here, then why not just pay off a portion of every mortgage in America? According to this site, As of 1999 there was about 6 Trillion in Mortgage debt outstanding in the US. I assume it is around 8-9 Trillion today. If we are considering a $900+ Billion stimulus - why not just pay off a portion of the debt? … (5 comments)
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