If you’re like me, you chose to sit out the tail end of the real estate boom while fools rushed in. Now today, as the fools wait for their bad loans to come home to roost, our elected leadership continues to meddle in markets which they are in part responsible for fouling up. Rep. Maxine Waters (D-CA) and Rep. Elijah Cummings (D-MD) spent hours on the phone trying to help constituents renegotiate the mortgages which they signed for and now can't afford.
I'll sum that for you, like this ... As tax payers, your paying the salary of these Representatives so that they can try and enact bills like the one sponsored by Illinois Senator Dick Durban that would continue to artificially prop up home prices that use your tax dollars against you, while at the same time, they pretend to be mother hen to undeserving home owners on your dime.
If your an aspiring home owner, these types of actions and legislation only prolongs the time in which you can achieve your American dream. If you’re a responsible home owner who would like to sell a home at a reasonable profit, this meddling in the markets will only put off the time in which you can sell your home at decent and historically typical profit.
So, I urge you to use the links on your right to find the contact information for your Senators and Representative. Call them, write them and email them to tell them that you want them to stop using your tax dollars against you. Tell them to stop meddling in markets which are in dire need of a natural correction, not more artificial fixes. Artificial fixes got us in this mess in the first place. If you want to tell them why they need to stop meddling in the real estate markets, direct them here, read my past posts, they explain the rationale for not tinkering with the real estate markets very plainly. I even used a lot of pictures so that they will be able to understand why proping up home prices at even the presently depressed levels is still unsustainable.