tag:blogger.com,1999:blog-848541039913019341.post8612295350493888154..comments2023-10-01T06:34:39.919-06:00Comments on Random Musings of a Tormented Mind: Mortgage changesKGouldhttp://www.blogger.com/profile/05537080163900313558noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-848541039913019341.post-71626481609473536352011-01-19T08:19:58.331-07:002011-01-19T08:19:58.331-07:00Oh totally, it was a disaster waiting to happen ye...Oh totally, it was a disaster waiting to happen yet they kept fiddling with all sorts of measures, supposedly to make it easier for more people to afford a home, but it went the opposite way and drove prices through the roof. The 'affordable housing' units that went up in my city were selling for about $95,000 when they were built It was all over the papers to own your own home for only $600/month. Now those very same homes, only about 4 years later, have been selling for over $200,000!!! How's that for 'affordable housing'?? But I also look to the people who signed the dotted lines without really thinking ahead. People that earn a lower end middle class wage have been buying $300,000 homes. I don't know why they thought they could do that?? The banks and govt can change the rules, but the people don't have to flock blindly along and follow. But they did.KGouldhttps://www.blogger.com/profile/05537080163900313558noreply@blogger.comtag:blogger.com,1999:blog-848541039913019341.post-77202064943392013362011-01-18T08:27:40.225-07:002011-01-18T08:27:40.225-07:00This is one of the problems of a central bank sett...This is one of the problems of a central bank setting interest rates rather than allowing them to fluctuate based on market forces. Intervention always warps the economy, often leading to catastrophe.potatohttp://eatmorepotatoes.comnoreply@blogger.com