Government Doing Too Much

Real Estate Broker/Owner with Real Living GreatWest

There’s a lot of talk nowadays about how much the government should be intervening with our economy and housing market. Many believe Washington is simply throwing money at a problem and will never solve it. Many also believe that without the government’s help, we would be in a far worse situation than we currently are.

I personally feel that it is time to let everything take its natural course. Let the foreclosures happen and stop of the bailout, tax credits and subsidized mortgages. Clearly, what our government has been doing is not working and spending more money on the same programs won’t work either.

I think the best way to get out of the mess we are in, at least in terms of the housing market is to get rid of the ridiculous lending qualifications to allow able home buyers to find a loan, but continue to keep strict guidelines in lending practices. Meaning, lenders need to be willing to accept applications from less than perfect borrowers, but do their due diligence to ensure the lowest risk.

What do you all think? Leave a comment and let me know.

Comments (2)

Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Sami - As much as I hated the bailouts, and stimulus programs, I can only imagine where we would now be without them.  Economically, we were at the edge of a cliff two years ago. 

I also agree with you about lending qualifications, and the current tight lending practices.  Much will also depend on putting folks back to work, and getting them confident enough to consume once again. 

Sep 08, 2010 02:55 PM
Alyce Martin
The Realty Group, LLC - Albuquerque, NM
Albuquerque - THE Place To Be!

Here's a thought:  why don't we stop funding those stupid wars, bring our boys home, get them into housing with VA loans to sop up the exogenous inventory and use the billions we waste overseas in conflicts we cannot possibly win to underwrite loans for  small businesses to get people working again?   

Sep 08, 2010 03:23 PM