Suze Orman on Real Estate

February 20th, 2009 | Tags: , ,

I’ve been meaning to write about my feelings on the current real estate “crisis” for a while, but I think what I have to say is better summed up by Suze Orman in her 2009 Action Plan (which I downloaded free a while back):

I have a moral problem with bailing out homeowners and lenders who had no right to do the deals they did. I certainly do not support a bailout of people who bought a home that was never affordable under any rational assessment, but I do feel we are obliged to help those who, with moderate assistance today, can afford to stay in their home.

We should help those in a “bad” loan today who should have gotten a good loan back then, or are qualified today. We got in this problem because the banks were making loans willy-nilly. We shouldn’t start forcing them to lend to the unqualified again.

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