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Discussion Starter · #1 ·
"Housing Market Setback Forecast," the newspaper headline said. A recently released report on housing says that home sales are down more than 25 percent and the inventory of unsold homes is about 50 percent higher than it was the same time last year.

This is just one of innumerable stories about the woes of the housing market. We all understand about human beings having woes. But how can a housing market have either setbacks or woes? Moreover, why should politicians be riding to the rescue of the housing market with the taxpayers' money?

We hear all sorts of sad stories about people whose homes are "under water" or who are facing foreclosure. But why should our attention be arbitrarily focused on these particular people, rather than on the many other people who would benefit from being able to buy those same houses, if the prices came down? The government is artificially keeping the prices up with subsidies and with pressures on lenders to accommodate the current occupants.

Can we not walk and chew gum at the same time? Is our attention span so limited that we can only think about one set of people that the media and the politicians have chosen to highlight?

Do other people count for less just because the media don't put their pictures in the paper or on the TV screen? Or because politicians are ignoring them?

Sometimes we are more concerned about some people because they are especially deserving. But this cannot be said about those who borrowed money to buy homes that they could not afford, or who borrowed against the equity in their homes, and now find that what they owe is more than the home is worth.

If anyone is especially deserving, it is those who had the common sense to avoid taking on bigger financial obligations than they could handle, but who are now expected to pay as taxpayers for other people's irresponsibility.

No doubt some people who are facing foreclosures might have been able to continue making their mortgage payments if they had not lost their jobs. But since when were we all guaranteed never to lose our jobs? People used to put money aside "for a rainy day." But now people who have spent like there are no rainy days are supposed to have the taxpayers pay to give them an umbrella.

What about the people who saved and put their money in a bank? Those who blithely say that the banks ought to modify the mortgage terms to accommodate people who are behind in making their monthly payments forget that, however "rich" a bank may be, most of its money actually belongs to vast numbers of depositors, most of whom are not rich.

Those depositors deserve to get the best return on their money that supply and demand can offer. Why should people who save be sacrificed for the benefit of those who spent more than they could afford?

Why are politicians so focused on one set of people, at the expense of other people? Because "saving" one set of people increases the chances of getting those people's votes. Letting supply and demand determine what happens in the housing market gets nobody's votes.

If current occupants are put out of their homes and the prices come down to a level where others can afford to buy those homes, nobody will give politicians credit-- or, more to the point, their votes. Nor should they.

Rescuing particular people at the expense of other people-- whether the others are taxpayers, savers or prospective home buyers-- produces votes. It also produces dependency on government, which is good for politicians, but bad for society.

That is why politicians give what Adam Smith called "a most unnecessary attention" to things that would sort themselves out better and faster without heavy-handed government intervention.

Why do the media fall in with this arbitrary focus on particular people who are having trouble holding on to homes they cannot afford? Partly because it makes a good story and partly because too many people in the media simply go with the politicians' talking points. That is a lot easier than thinking.

But the rest of us have no excuse for not thinking-- or for letting ourselves be stampeded by rhetoric about "saving" the housing market.

http://townhall.com/columnists/ThomasSowell/2011/01/05/saving_the_housing_market/page/full/
 

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I hate that whenever I face a financial imposition, others will say to me, "Well, you're made of money," or "you can afford it."

Our government expects me to "afford it" like it's the only reason they need. Yes I have been fortunate, but I have also worked very hard to get where I am.

Nobody handed me an inheritance, paid for my college, or did me any favors. I enjoy what I have now because of the years of sacrifices I made, and waiting until I could afford something before I would buy it.

I'm sure there are some people who just had a run of very bad luck, that threw them into their current economic disaster. However, I agree with you in that many dug the hole they are in, and I am not inclined to help them since they will probably just do it again.

I would consider helping their kids with food and clothes because they are innocent. In fact I regularly donate to charities.
 

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For every rich bastard who exploits a tax loophole, or every thug mutherfucker who refuses to get a job (or go to school to get a real job) there needs to be a LOT of us middle income earners to pick up the slack. We make too much to get the breaks and too little to afford the shelters.

We get screwed!
 

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I keep saying, you cannot drag a poor class up, you gotta drag the middle class down, to achieve the unicorn known as "equality".

But, the middle class will hold on, trying to retain some semblance of middle-classness until it's too late to change, and they wake up poor in a 3rd world country. Apathy.. the great destroyer.
 

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I keep saying, you cannot drag a poor class up, you gotta drag the middle class down, to achieve the unicorn known as "equality".

But, the middle class will hold on, trying to retain some semblance of middle-classness until it's too late to change, and they wake up poor in a 3rd world country. Apathy.. the great destroyer.
All that is required for evil to prevail is for good men to do nothing.
 

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Discussion Starter · #7 ·

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I don't know what this means.
Meaning that I can give a pass to helping people thru a rough patch if they are trying to improve themselves and not planning on being a habitual tax tit sucker.
 

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Meaning that I can give a pass to helping people thru a rough patch if they are trying to improve themselves and not planning on being a habitual tax tit sucker.
:laughing: Too late, the democrats have already created a class of voters who are eternal (well, at least until the **** hits the fan) teet suckers.. took them 40 years to get it done.

What cracks me up, is the way their leaders come out and blatantly lie (Harry Ried) and the zombie leftist with no brain, eat it up like it's fact.. :crazy::laughing:

Idiocracy.. welcome to the future.
 

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Discussion Starter · #10 ·
Meaning that I can give a pass to helping people thru a rough patch if they are trying to improve themselves and not planning on being a habitual tax tit sucker.
That is exactly the same thought process that got us in to this mess. It is expanded on repeatedly... until we are where we are today. You want to better yourself... do it on your own time and dime. Meantime... do not be too proud or believe you are above doing certain jobs to earn a living. They are out there. But, because most have paid in to the system... they have been coerced in to feeling they are owed and do not wish to work for less then what they perceive they are worth. Can you guess what government run program is responsible for this ? I'll give you a hint... it's the one they just extend by 19 months.

Welfare and medicare recipients... should be made to work for their entitlements... so should the unemployed.
 

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That is exactly the same thought process that got us in to this mess. It is expanded on repeatedly... until we are where we are today. You want to better yourself... do it on your own time and dime. Meantime... do not be too proud or believe you are above doing certain jobs to earn a living. They are out there. But, because most have paid in to the system... they are owed and do not wish to work for what they perceive they are worth. Can you guess what government run program is responsible for this ? I'll give you a hint... it's the one they just extend by 19 months.

Welfare and medicare recipients... should be made to work for their entitlements... so should the unemployed.
I bet if you gave every welfare recipient a shovel and had them widen the strets in thie home town, most would have a job within 2 weeks.

They just need proper incentive.

Before there was welfare, we had the CCC & WCA. Result? Skilled laborers and beautiful parks. Now we have slow union city workers barely keeping up with grafitti removal, let alone improvements.
 

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Discussion Starter · #12 ·
YES! Outstanding, -understanding and answer, brother! Bravo!
 

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I bet if you gave every welfare recipient a shovel and had them widen the strets in thie home town, most would have a job within 2 weeks.QUOTE]


I believe Reagan tried to do something like that when he was governor, but the courts shot the idea down.

Just imagine, welfare recipients going out to the fields, hotels & slaughter houses while other welfare recipients work as daycare workers caring for the children when mom or dad is out working for the welfare check.:thumbsup:

Peace on earth man......peace on earth :laughing:
 
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