September 16, 2008 Finance General 0

Vox Popoli: AMF

Vox day has this one nailed.  This is the failure of the socialcrats and outright greed.  this is not the failure of hte capitalistic market system.  The gov’t should not have stepped into freddie, fanny, indymac, or BS.  They should have all failed and brought risk back into this market.  They have only dealyed the inevitable.  right now our mortage is a 30 year fixed mortgage.  We didn’t pay much ofr the house as it was an estate sale.  I’ll be watching hte housing market value around here though as we have one new development that finished and another one that just getting started.  With the markets the way they are I don’t know if hte developer is realisticlaly going to be able to do much with the land for 10 years if it wants to stay afloat..depending on how leveraged they are it may never get off the ground.