re: #883 jaunte

Going home yesterday I listened to Sheila Bair, the head of the FDIC talking on the radio about how important it was to the economy that we all help support home prices, whatever that meant. I don’t yell at the radio very often, but I started last night.
[Link: articles.latimes.com…]

Support home prices? What the hell does that mean? Support inflated housing prices that inflate the worth of people so that they can use their homes to take out still more money from the piggy bank that isn’t worth as much as it really is via lines of credit and home equity loans?

I support home prices that are rationally tied to the actual values of the communities where the homes are located. That means homes that are in desirable locations are worth more than those that aren’t. That means homes where there is strong demand and limited supply have increased values that areas where there is weaker demand and/or greater supply.

I was listening to the tv this morning and they were talking about how we’ve apparently not invested in cities for the past eight years and that Obama is signaling that we’ll be spending more money on inner cities. Really? Looking at NYC and even Newark and Camden, there’s more investment going on as a result of the reduction in crime and making the areas safer for development than during the years when Democrats were in office. Instead, we’re going to take the time machine and warp back to the Great Society years when throwing billions at the inner cities resulted in the Bronx burning and inner cities and urban areas turning into blighted messes - all in the name of improving them. [deleted]