In a broader piece on why we should allow the foreclosure process to continue unimpeded for the benefit of all involved, Barry hits on something that I’ve thought about myself: People who don’t belong in the home they’re hanging onto in the first place aren’t doing their local economies any favors:
From The Big Picture:
• Increasing Economic Activity: The areas of the country with the greatest foreclosure rates have seen a big increase in real estate activity. Look at California and Florida — they have seen enormous upticks in RE activity versus the lower foreclosure states.
When someone purchases a home they actually can afford, they end up spending quite a bit of money on additional goods and services. They do renovations, hire contractors, make durable goods purchases, they paint and repair, they buy cars, they spend money in the local community.
The people who are hanging on by their fingernails, however, do none of these things. They end up paying a vastly disproportionate amount of their incomes to service their mortgages. This is not productive economic activity.
There is a legitimate case to be made here and it is, of course, a Free Market argument. Click over to TBP for some other reasons why extend and pretend is not helping anyone but the banks.
Source:
hulu prepaid
[…]Here are some of the web pages we advise for our visitors[…]
Individual Coaching
[…]The info talked about inside the post are a number of the ideal offered […]
denver limo service
[…]just beneath, are various completely not related web-sites to ours, even so, they are certainly worth going over[…]
تبلیغ در گوگل ادوردز
Hey there! I just lately observed your site and I undoubtedly appreciate it. I really like to converse about omega xl sometimes. Great to be around, thanks a great deal!
FS 19 mods
[…]we came across a cool web site that you may well love. Take a look if you want[…]
http://jerseycity-exterminator.com
[…]that is the end of this report. Here youll locate some websites that we feel you will value, just click the links over[…]
renovations
[…]we prefer to honor a lot of other web web pages around the internet, even if they arent linked to us, by linking to them. Beneath are some webpages worth checking out[…]
Arcade game
[…]usually posts some incredibly fascinating stuff like this. If youre new to this site[…]
thrusting rabbit sex toy
[…]check beneath, are some entirely unrelated internet websites to ours, even so, they’re most trustworthy sources that we use[…]
digital music
[…]we like to honor lots of other world-wide-web websites around the web, even when they arent linked to us, by linking to them. Below are some webpages really worth checking out[…]
cheap hotel
[…]we came across a cool web-site that you just could possibly appreciate. Take a appear when you want[…]
Malaysian peruvian indian remy Brazilian Hair wigs extensions wholesale quick delivery discount price
[…]very few websites that happen to become detailed below, from our point of view are undoubtedly properly really worth checking out[…]
Serbian husky dog expert
[…]usually posts some pretty intriguing stuff like this. If you are new to this site[…]
IT Support
[…]check below, are some completely unrelated internet sites to ours, however, they may be most trustworthy sources that we use[…]
mp3
[…]here are some links to web-sites that we link to mainly because we believe they may be worth visiting[…]