tag:blogger.com,1999:blog-6323554779266663124.post524361811701897294..comments2023-11-03T04:45:26.986-05:00Comments on Proprietor Nation: New York Times Perpetuates Dangerous Politically Correct Narrative on the Mortgage Crisismike volpehttp://www.blogger.com/profile/00858580982582146161noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-6323554779266663124.post-48453285031179973382007-11-19T23:15:00.000-06:002007-11-19T23:15:00.000-06:00My wife and I were offered an ARM rate to buy a ho...My wife and I were offered an ARM rate to buy a house for a very high price. The agent said you can sell it in five years, make a profit, and move on. I told her I wanted a house to live in, not for speculation. We did not purchase a home then. We made the right move. We will wait until prices drop further, if the government doesn't interfere. I am a moderate Democrat, not a Republican. People should be rewarded for making the right decision, rather than bailed out for making the wrong one. The lowering of housing prices will help some home buyers, and hurt others. That's life. Why doesn't Durban sympathize with those of us whose income is not so high and who have been waiting for prices to drop? We made the right not wrong move. This is our chance, don't wreck it!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6323554779266663124.post-66047612276923738602007-11-19T21:50:00.000-06:002007-11-19T21:50:00.000-06:00You're absolutely right. The technically correct t...You're absolutely right. The technically correct term for this situation is "moral hazard" and occurs whenever is a benefit to doing something bad, like declaring bankruptcy so you can renegotiate your home loan.Anonymousnoreply@blogger.com