Quote:
Originally Posted by AGDee
My point about bailing out society is the repercussions on the rest of us when all these houses end up abandoned. Blight is not a good thing for a neighborhood and only makes your own home value continue to decrease at an alarming rate. If my neighbor's house is auctioned off for $20,000, that completely kills my own property value. The more people who lose their houses, the worse it's going to be. It seems like a neverending downward spiral. I'm concerned about where "bottom" is. As I've said, I don't know what the answer is. Maybe a depression is inevitable.
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But how do you restore or maintain property values if they were based on a bubble created by bad lending practices, as well as short-sighted self-interested behavior by buyers?
I'm worried about where the bottom is too, but I'm not sure that trying to cushion the bottom with tax money is where it's at.
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