About 20% of homeowners have no home mortgage. And only 5% of all Americans are not current in their mortgage or have severe problems with their payments. Moreover, 33% of Americans rent and have no mortgage concerns.
Thanks to the obliging media and the antics of the Left in government, the problems, however, will only continue to get worse.
Mortgage foreclosures rule headlines, mar public psychology, and tar the overall economy.
Thus the focus persists on a small amount of events, but obviously a very noteworthy amount. That is because of the economic impact produced by such events.
I repeat: It would have been cheaper, early on during the financial meltdown, for taxpayers to have had the government buy and raze homes that were started and never finished, just to get rid of that excess home inventory overhanging the market.
It is something that experts running our government never fully considered. Yet, it has to do with the simple rule of supply and demand.
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