Fear and Loathing of Washington, D.C. :Equity locks is the solution
Obama and Congree are being criticized by many politicians and pundits for going on vacation during this time of economic hardship, I have the opposite view. I wish they would all go away for a couple of years so that the marketplace can correct itself without further damage from Washington policy makers.
President Obama is promising a new economic plan (maybe an actual written plan, and not just a speech?) next week, and I'm already scared, because I'm confident that it will not be centered on the private sector, but will be more government programs that will increase the debt and further distort the marketplace. There is talk of FNMA becoming the nation's largest landlord by renting out the foreclosed homes they own, instead of continuing to sell them to investors in the private sector. This will continue to distort the housing market, and all the government interference is keeping the market from finding its true bottom. There is also speculation that Obama will propose some new mortgage relief plan that will be ripe with moral hazards and will continue to distort the housing market.
The housing market needs to be allowed to bottom out. Only then will buyers come back with confidence that they will be able to build equity in their home over time. Private companies like EquityLock Solutions have created products to help home buyers hedge against market risk, so the federal government should stay away and let the markets work. They always do. Click on <a href="http://www.bartbusinessgroup.com">equity lock</a>for offers.
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