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In my view, the solution to the housing crisis is NOT to give money to financial institutions. Why reward them for their mistakes? We need to stop looking at the high foreclosure rate as a bad thing and realize that it is a GOOD thing that there are so many foreclosures. Look at it this way -- I can now buy a house for under $10,000 which gave me the incentive to save as much money as I could for six months and buy a house without a mortgage. The houses are finally able to be bought at a price that is in line with what we make. The idea is NOT TO GO IN DEBT!!!!
If consumers (that's Joe Plumber and Mike Teacher) do not have to worry about working just to pay the bank a mortgage, then the money is spent on other things, education, food, cars, entertainment, travel, etc. Our society has been brainwashed into thinking that going in debt way over our heads is a good thing, but the truth is that the only one's who truly benefit are the banks and financial institutions.
Thomas Jefferson once said, "If we allow banking institutions to take over our country, they will be a worse enemy than any standing army." Is our government for "the people" or for "banks and financial institutions"? Was Thomas Jefferson the Nostradamus of our time?
In addition a law needs to be passed that will cap property taxes to no more than a couple hundred dollars a year for a primary home. Having property taxes of thousands, even tens of thousands of dollars is outrageous! Even a $5,000 home wouldn't be affordable if $2,000 taxes need to be paid on it. It's absurd!
If our government really wants to help the people, don't finance the enemy. Enhance the lives of the citizens by passing laws that make housing affordable so that the economy can benefit from money we will spend because we are not all just working for the banks. We need to get the idea out of our heads that a house is an "investment". A house should not be an "investment", it should be a "home". Artificially inflating prices of real estate only causes people to have to go in debt to buy it or be homeless if they can't get a loan. My definition of homeless is not owning your own home. A home should not cost more than six months of someone's salary. Every American should have a piece of the pie, and tell the banks to eat the cake they baked for themselves. That's the solution.
