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Olan Black asked:
What effect would freezing foreclosures have on the economy short and long term? is it a good idea?
What effect would freezing foreclosures have on the economy short and long term? is it a good idea?
Tags: Economy, Foreclosures, Hillary Clinton
March 25th, 2008 |
Tags: Economy, Foreclosures, Hillary Clinton
March 27th, 2008 at 7:07 pm
She will be another Dicky Nixon. Chaos!!!
March 29th, 2008 at 11:38 pm
In every economy, there have to be tops and bottoms. The real estate business had a top that went way beyond a normal business cycle top. Therefore, the bottom is going to be painful until we shake out all the excesses of the over-exuberance of the past.
Forcing a stop to all foreclosures puts a temporary halt on the shake out that is necessary for the real estate and banking markets to self-correct. It won’t correct the problem caused by the banks who made stupid loans. In the long run, stopping foreclosures will prolong the time it would take to recover from this bottom.