WC Varones

Don't lend your hand to raise no flag atop no ship of fools

Blowing Bubbles to Save the World

Business Insider posts a suggestion that the royal MaObama-ness is going to try to keep home ownership unaffordable for the scum renting class, such as myself, with this:
Options it has examined in the past:
  • helping more underwater borrowers refinance through the HARP program
  • waiving reps and warranties for banks
  • a so-called nuclear option of offering a 4% rate to all qualifying, existing borrowers (a government commitment to offering borrowers a set mortgage rate)
The first is the most likely because the second two are expensive for taxpayers, say Barclays analysts Nicholas Strand and Derek Chen. The upside to the second two is that they would alter refinanceability for borrowers more substantially.
Again let's help those who can't afford so that those that can afford can't buy? Sounds like a plan your heinousness.

But that's ok Chairman, I can wait. As much as you hate renters this still isn't going to get me in the game because when it finally crashes I'll probably be able to buy a home with the cash I have stuffed in my mattress. That or we go all hyperinflation like WC suggests, in which case I'm headed to Brazil anyway and don't have to worry about leaving anything behind.


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