Do you think there should be bailout for genuine first time homebuyers who bought their houses at peak?
Because globally some will probably lose their homes as companies cut payrolls and due to mortgage stress.
Best Answer
4085 points
EthanR answered 2 months ago …
There are two aspects to this question, the prgamatic and the moral. Morally, people who bought their houses at the price peak are owed NOTHING. Does anyone give you a rebate because you bought a HDTV when it was new and it's now cheaper? Does anyone bail you out becuase you bought gasoline on the day it was the most expensive? No. So why with a house?
Pragmatically, the government feels they have to do something for these people, but I don't see all their efforts really helping the situation all that much. We had a bubble, and now it just all needs to unwind, and then let the chips fall where they will. A new generation will come along and buy homes and start the cycle anew.
