My first thought is that people and corporations took too much risk and deserve the repercussions. Even as a Real Estate agent, I'd rather let capitalism work out the kinks than the government.
If we lived in a socialist country, it would be ok to take money from the responsible people and give it to the irresponsible. Isn't that what this is?
It was bad when corporations started owning local Real Estate because they have so many rules, it's hard to get a house sold that's been foreclosed on.
If the government owns the foreclosures, might it not take 6 months to get a property to the closing table after we follow all of their regulations? This means they'll have to take less for the property because only investors will be willing to put up with that.
I could be wrong about all of this.... What do you think??
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