More welfare for housing price speculators
Congress has decided to leave no house price speculator behind: “Homebuilders get breaks from Congress.”
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Congress has decided to leave no house price speculator behind: “Homebuilders get breaks from Congress.”
Pat Gannon
April 3, 2008 @ 7:57 pm
What a mess this is. If it’s not bad enough that they’re spending $15B to avoid a market correction, they’re not even helping dumb consumers like me that got talked into a crappy loan to lock in a supposedly great deal near the beginning of the housing bust. Surprise, surprise – big corporate wins again and the average Joe picks up the tab.
Todd
April 4, 2008 @ 12:28 am
Phil,
How does this bill actually help the average John Doe who speculated on a home and lost?
I don’t see how it does.
The way it reads, only companies that bought, built and sold homes would be able to use their losses to offset any gains they realized over the last four years.
I don’t see how this would help Mr. Doe.
philg
April 5, 2008 @ 5:58 pm
Todd: Helping the average John Doe has been the subject of a lot of discussion and government initiatives recently. This is a new thing where the Feds want to help big home builders (another kind of house price speculator).