That's a train coming down the tunnel ... not a 'good' light. The govt helped put people into homes they couldn't afford and drive the price of homes up ... now the govt is artificially keeping the prices of hies high by bailing out the banks who made these bad loans .... and are also keeping loan interests way below what they should be.
Lack of reasonable regulation let to a BANKERS GONE WILD era on Wall Street that loaded up toxic assets while no one was minding the store.
It is painful to have spend all this money to get the banks healthy again, but don't blame the firefighter for the fire here.
All those toxic assets have been building up for years, and if they blow up, Main Street blows up with them. We have to bail their irresponsible asses out, not that they would ever cut us a break if the situation was reversed.
Kindly direct your anger at this situation to those who are directly responsible for it. #1 the reckless and predatory lending of the past several years, and #2, the federal government asleep at the regulatory switch under You-Know-Who.
SoR_AWC
She further cited an $8,000 tax allowance for first-time home buyers -- a view echoed by others. ***
so how many are buying for the tax credit then selling next year and pocketing the 8k?